The times. [volume] (Richmond, Va.) 1890-1903, 1899-08-03
RECENT INVESTMENTS.
Northern aud Western Capital in
Southern Enterprises.

/ Mr.. Richard IT, Edmunds. editor Of the
Manufacturers Record Of Baltimore,
spent yesterday in Norfolk, his native
place. and an an interview with The
Landmark said that never before was
there such general prosperity throughout
the whole industrial life of the South as
al present. Southern cotton-mill husi-
ness is expanding rapidly. and over LOO
on spindies. representing upwards OF SO
600. 90 Of new capital. are now being add
ed to the number already operating I'm
the South I'm the development of iron
and coal properties and the building of
steel works and kindred enterprises 49,
600 oO0 of new money from the North is
NOW going into the South. The building
of now steam railroads and the improve
ment OF old ones and the purchase and
DEVELOPMENT OF street railway systems
represent over 800 10000 Of new pr0duc-
tive capital for the South, s. 10000 is
being spent on new cOttOnseed-Oil mills.
vast tracts Of timber land. costing I'm tine
aggregate some millions of dollars. are
being purchased. while minor industries
are nearly all sharing in this general adj
vance.
Al least s2l0000 600 OF new money most
Of IL from the North and West. are now
being added 20 the SOuths employment
creating and matchmaking capital ln
thes various railroad. cotton. iron. ium-
Der and smaller industrial interests.
Moreover. the South itself it steadily iu-
cr-asing its own surplus capital. which is
being turned into productive enterprises.
These vast investments are worthy ~
our careful study. They indicate the con-
hdence q the moneyed people of the
world IN the South's vast natural PEE
sources. but II We OF the South are wise
the magnitude OF these investments Wall
be vastly exceeded in the future. IL is an
easily demonstrated fact that wherever
corporations and manufactures are most
numerous there the prosperitysof agri-
cultural interests and Of all classes Of
the people f. tho greatest. II we OF the
South would reap the fun harvest OF our
natural advantages. turn our villages iu-
to prosperous towns and our towns into
great cities ana create employment for
everybody. we must give every possible
ENCOURAGEMENT % capital and 10 the
great corporations which are rapidly
pushing America 10 the front On the
worlds struggle for commercial. indus
trial and financial supremacy.
our country IS fast becoming tho |
power I'm the worlds bust |
ness affairs. but how great a share the |
South shall win in this cOntcsf-fhe most
stupendous and wide-reaching in rs in |
nuence which the human race has ever /
known since modern civilization began |
must depend upon whether we join forces |
With the leaders I'm this great work. or
whether We continue. as so often In the |
past. 20 ally ourselves with the forces /
that tend to retard development through |
The work Of political demagogues seek
ng their own profit For two years we
have been on rising tide OF prosperity. |
and unless political agitation against
sound money AMI business interests be-
come acute, We may look for continu-
lace OF this great activity which IS fast
living the South position Of worldwide
influence IN iron. steel and cotton manu-
Na.) Landmark.