The gold leaf. [volume] (Henderson, N.C.) 1881-1911, 1899-03-09
.SOUTHIS BOOnING.


Says He Does Not Believe That Any
Other Section of the World Has 50
Many Wealth. Creating Advantages.
Mr. John E. Searles, the well-known
New York financier, returning from
a five weeks trip through the South
ern States, stopped over short while
in Baltimore and was interviewed by
a reporter of the Baltimore Sun.
The South said Mr.. Searles, .shas
for ten Years been passing through
| an experimental period, in which the
mettle of the people and the inherent
strength Of its position have been
undergoing a test. Both have stood
| the ordeal and demonstrated to the
business world the soundness of the
whole Southern situation. The South
is country of such remarkable
natural advantages that it would
seem to offer the broadcast oppOr-
tunities for extensive operations in
the development of its mineral and
timber wealth and the extension OF
| its railroad facilities.
when the very remarkable COM
| bination of advantages possessed by
| the South in coal, iron. timber and
| cotton, without counting all the less
| striking resources of phosphates,
marbles, GRANTEES, &c, is taken into
| account, | can readily believe, as Mr..
Edmonds has often said to me, that
there is no other country in the world
| ;oh
| Other countries have some of these
| advantages; some have iron and coal,
| some have timber, some have marbles
and GRANTEES, but | believe it is fair
to say that no other region of the
world has them all concentrated in
such wealth-creating magnitude as
the South
NO LIMIT TO DEVELOPMENT.
| .sGiven these resources, and with a
favorable climate and productive
| soil, both of which the South enjoys,
there ought not to be any limit to the
possible profitable development of
that country. If England could
create its enormous industrial inter-
ests, based largely on imported cot
ton and iron ore, and spending, as
she does, about $3.50, 100000 a year
for foodstutfs; if New Endland, with
but few natural advantages, could,
by the great energy of its people and
the force of circumstances, build up
its marvellous industrial prosperity,
based upon imported coal, imported
iron and imported cotton, what may
we not expect of the South now that
it has fairly entered upon the broad
development of its mineral wealth
and its cotton and lumber manu-
facture?
SPLENDID BUSINESS CONDITIONS.
ga careful study of the business
conditions of that whole section, of
the spirit of the people, of the
splendid progress already made in
cotton manufacturing, of the truly
marvellous iron and steel-making adj
vantages, as illustrated in Birming-
ham-and remembering that while
birmingham is necessarily destined
to be one of the worlds leading metal
lurgical centres, there are many other
points where iron and steel can be
proftably manufactured, thus giving
assurance of the upbuilding of many
opment goes on-remem boring all
these facts, the thoughtful student
of business conditions must see that
the South has an exceedingly bright
future.
STEEL AND COTTON MILLS.
! The progress of that section seems
to be well rounded, with steady up
building in cotton and iron manufac-
turing, and now Birmingham is pre-
pairing to take dominant position in
steel-making. The two great steel
plants now under construction at Bir-
: mingham will, l understand, cost
about 81, 500, 900 to $3,O00,00O. AS a
factor in building up that city and in
creating diversity of manufacturing
interests, these steel works will prob.
, | ably be of more value than every.
thing that Birmingham has up to the
present time accomplished in iron
matters. We found very marked
, activity in cotton mill building, and
, in Alabama learned of the closing Of
, | a contract by the Merrimac Manufac
: turing Company, of Lowell, Mass, te
, build at Huntsville one of the largest
cotton mills in the world This
| plant, SO l was informed, will have
| 100000 spindles, a bleachery and
print works. and will, 1 believe, be
5 the first print works in the South
8 1t will probably cost over $4,000 900
e '.In all parts of the South the cot
$ ton mills were reported as profitable
and crowded with orders. The splen
did cotton duck mill at Columbia, S
g c., is one of the finest mill plants
, have ever seen, and it's electrical
q equipment is superior to that of an,
h mill with which am familiar in New
, England. Its general manager stated
that it could sell double its presen
output, the demand for its good
coming from all parts of the world
h In North Carolina l found that on,
county had twenty-five cotton mill
in operation, with five more pro
jected. In that county the farmer
are said to be so prosperous, OWNS
e to the local demand for diversified
+ agricultural products, as to be fire.
from debt. with a good supply o
cash to their credit. their barns filled
with corn and their meat houses Will
+ provisions.
u GREAT TERMINAL FACILITIES.
: added to the general industrial
d advance everywhere noticeable is tn
e very striking progress that is bein,
: made in the development of South
= ern ports. At Galveston, New Or
leans, Pensacola, Mobile, Savannah
5 Norfolk, Newport News and othe
It ports extensive enlargements of ter
minal facilities, involving a goo
many millions of dollars, are bein
y made. And at Newport News, MI
e Huntington's great shipyard, EN-
e ploying about 5000 hands, has,
V learn, about $40. 200, 900 of work unde
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