Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1899-01-01
RAILROADS 10 WELL.
THE YEAR A GOOD ONE WITH ALL
THE GREAT SYSTEMS.
The COuHTRY's BUSINESS GOOD
Great improvements shown In 1893,
and the Prospects Bright for the
New year-what the southern
Lines Have Done.

prepared by Mr.. II. Lancaster Williams,
OF the clearinghouse ~ John L. VIII
Hams & Sons)
A yesr ago there were stlll to be heard
occasional cries OF. where is the Nc
Kiniey boom?" "where Is the wave of
Prosperity?" and certain remaining
spirit OF dissatisfaction and discomfort
was seeking relief Of feelings by occa-
sionai filings az the administration. and
ut the general condition OF things. be-
cause wealth was not being distributed on
silver waiter freely 20 everybody every
where.
Gradually and almost imperceptibly the
tide did turn, and has been gathering
strength, until at the present time there
is sweeping over this broad land wave
OF industrial and commercial activity, the
like OF which has scarcely ever been seen.
Whatever II may be attributed to, here
Il Is. and the evidences of IT are not all
from one locality, or one line Of business,
but the testimony is borne down upon us
from all sections ana all lines Of industry.
almost every town end hamlet seeming 10
feel its beneficent results.
The calamity bowler has at last found
chance for a holiday. because people
haven't time 10 listen. and only few stin
md heart 10 rail against capital and con-
denim all that stands for successful bust
ness saSacity and enterprise, and .bemoan
hard times while around their very doors
labor can scarcely be found, so great is
the demand for IL TO prosecute the great
development actually In progress.
IMPROVEMENT WAS INEVITABLE
There has probably never been a time
In the history of this country when so
many men have been employed at so high
rate OF wages as at the present time.
During the past few years all kinds of
storms and troubles have disturbed our
financial and commercial system, and at
one time the future looked gloomy, indeed,
but the great natural resources of the
country made improvement Inevitable,
and when IL did start, irresistible 1t
nnaliy took foreign war 10 clear the
atmosphere and weld together the sections
OF the country, In order that we all might
work shoulder TO shoulder for a great
destiny.
The new year is opening with brilliant
prospects; everything indicates 1t and all
sections feel 1t.
wall street being a principal nerve
centre. We naturally look there as to a
kind OF barometer. We find the trans
actions on the stock exchanges i'm re-
cent weeks have been almost without
parallel. and continuing day after day
with almost ceaseess regularity and a
steady upward tendency. A "seat" In the
Stock Exchange is now quoted at $4,000
being within $1,000 of the highest price
on record
Clearings through the Clearing House
Association are the highest ever reached,
and the deposits OF clearinghouse banks
aggregate over ss0O,OOo0Oo. the next high
est being s6OO.OOOOOo in July. 1897
The United States gold reserve,
amounting TO $4,000 600, is the highest
ever attained.
The balance OF trade in favor of the
United States for the present year reach
es the enormous sum OF 5000 100000 Bank
clearings for the third week in December
reached slS66S3,S Sc the next highest on
record being $l59.000.0O0 in 1881.
In the iron business we also find great
activity and books fun of orders, one
order being recently placed for 10000
tons Of rails; and SO we might continue
for column after column.
THE soUTHs OPPORTUNITY
While activity seems to be the order
of the day all over the United States,
sim this has been said to be distinctly
the South's opportunity. Here, too, we
find so much to prove it that II is inn
railroad reports that during the year
So new Industrial establishments have
located on its lines; extensive improve
ments have been made on many other
roads, to take care OF business offered it.
The Manufacturers Record reports that
over 5000 new industries OF various kinds
have been projected or founded in the
South I'm the past year. In the same
period there have been over 5000 spindles
and 5000 looms added to our textile-mills.
But one of the best barometers of trade
IS the great railway system, reaching
out its arteries into all sections and
feeling, as IL does, OF every branch OF
business The Importance OF this great
system, and the mutual dependence upon
the welfare of the public is appreciated,
when II is known that II gives employ
ment 10 over $4,000 men. distributing TO
them annually nearly $5OO,0OO00O on pay
rolls OF the total mileage Of the world
of 10000 miles, America is credited with
25s,vv0 miles.
BUILT DURING THE YEAR.
AS will be seen by the following figures
furnished by the Railroad Gazette, the
mileage constructed In 1898 has not been
phenomenally large. It, however, is the
largest since 1892, and is well distributed
throughout the country Minnesota leads
with 253 miles. followed by Texas, Louis.
Jana. and Alabama in the order named
or the total OF 2S67 miles, l,065 miles
are credited 10 the thirteen Southern
States. the largest being Texas and the
smallest Kentucky.
Ths following is table OF miles con-
structed each year since 1881:
Year. Miles.
1k9l s...ssss.'. s'ssss..ss'sss IL 300
IsSS ..... .............. ............ T. lO5
1Ss9 ........ ........... ............ 2S0
1880 ........ ............ ................ $3.50
1S9I .,....... ........... ............... PSI
1892 ........ ......... ........ ......... 1872
1870 ........... ..-........ s............... 2,6f
isst .......... ........ .................. 9l9
1896 ...s........ ..........- .'............. 1913
vSos ....s....s .......,........ 1 NtS