The times. [volume] (Richmond, Va.) 1890-1903, 1899-08-11
SOUTH A FACTOR
IN WALL STREET
Her Financial Affairs Taking a Fore
most Place There.
THERE is NO END OF RUM0RS,
The Trend OF Investigation and In
ycstmeut is Southwark ana the
Long Expected Era of Prosper
ity Is Near at Hand.

BALTIMORE. August 1o-specisl.-Dis-
cussng the comb andins position which
the South is beginning 10 hold In New
York. as illustrated by the attention
given In an the New York financial pa
pers to facts and rumors about Southern
railroad and Industrial affairs, the Man
ufacturers Record says:
EVERY day the Southern situation In
one phase or another is discussed by near
IS every financial paper. and around Wall
street Southern matters are taking a fore
most place. There are enough facts
coming out % show how the great hnan-
clers are turning their attention south
ward without taking account Of rumors
though many Of these rumors have a
degree Of plausibility which makes them
interesting. 1t is known that such men
as Morgan. Belmont Searles. Hewitt and
others have become investors In Southern
iron properties, giving promise that
honcoforth an really meritorious iron
propositions from that section will re-
ceive greater consideration than ever be
fore: it Is known that this great develop
ment of iron and steel interests Is be-
ing matched 10y equal activity in cotton
manufacturing In cotton of, In phosphate
mining and I'm numbering operations.
RAILROAD EXTENSIONS.
Coming I'm connection with this unpro-
cedented advance of industrial affairs IS
a very rapid extension of railroad lines
and combinations. Short links % connect
important systems. 90 omen up mineral
and timber lands. are being built in every
state. while the leading systems such
as the Southern, the SeabOard. the Plant
the Mobile and Ohio, the Louisville and
Nashville. and others. are strengthening
their positions by important extensions
and at tho same time are steadily inn
proving their physical condition and
building new and better depots.
"Of rum0rs there is no end. The
Southern Railway Is reported as seeking
90 gain control of the Louisville and
Nashville the Seaboard is said 90 be ar
ranging for a connection I'm the future
with the Baltimore and Ohio. the Kansas
City Pittsburg and Gulf Is evidently
judging from the rapid rise I'm its socuri-
ties. nearing new period in frs history
with strong influences at its back The
Norfolk and Western does not fan short
In furnishing a supply of rumors about
extensions and consultations, and from
West Virginia comes reports Of prob
able consolidation of all the Elkins-Dayis
coal and railroad interests with some inn
portant extensions 90 the Soaboard as am
outcome while Wall street finds much 90
talk about in the rumors of "a combina-
ton of AN the leading iron companies of
the South. which. ii effected, would Doe
one Of the greatest Industrial enterprises
in the world.
ALL LOOKING SOUTHWARK.
Scarcely less significant than the
known facts are these rum0rs indicating
AS they DO. that rhe South Is now claim
Ing "a larger share of attention in Wall
street circles and is being more generally
discussed than any other section The
travel of thought of Investigation, OF in-
vestmeut is southwark and the long
Iooked-for day of activity and prosperity
of which 1850 and 1880 were bur slight .n-
dicat.ons. IS near 40 hand. IT heho0yes
the South. therefore while pressing with
vgor for the upbui'ding of It's business
interests and for the fullest utilization Of
the present propitious condition of finance
and trade. 90 beware OF AN speculation
and booms'
SOME RESULTS.
In the meantime definite facts are be-
ing announced daily The Louisville and
Nashville's Improvements az Pensacola
Will permit the loading OF eighteen YES
sells al once. The same road is making
extensive additions 90 fac.uts for the eX-
port trade 40 Mobile The Southern
Railway is likewise planning for cub
tivauou of the grain export trade at
Charleston while work is being pushed
upon railroad extensions 20 mineral fields
in southwestern Virginia and eastern
Tennessee. and promoters OF a new line
20 connect The Birmingham district with
deep water az Mobile are actively az work
IN the counties along the line. The
early completion of the Choc,aw and
Memphis road bringing Memphis into
close touch with the Trans-Alsslssipp
coal fields and a rapidly developing terri
tory. seems guaranteed by the contract
between the city and the railroad for its
terminals at Memphis Little Rock Ark.
has set vigorously 20 work 20 insure the
Of the Arkansas Northern.
tapping The rich mineral fields of Ar
kansas; and az many points In Texas con-
necti0us and extensions are under con-
structlOn. Considerable activity IN con-
struct0n IS also shown iu West Virginia.
notably in The case of the Greenbr.er
River Railroad while the work of COM
plctiOn of the road from Richmond Va
90 Ridgeway. y. c.. Is Fastening and this
and other connecting links VIII soon unite
the Seahoard the Georgia and Alabama
and the Florida Central and Peninsular
d..