The Newberry herald and news. (Newberry, S.C.) 1884-1903, 1899-09-01
to length of timo and character of SO

Governor Johnston of Alabama:
"The sections of the State that are
now prospering are confined to the
mineral and timber regions; tho low
price of cotton, even with large
crop, offers little return to the
most industrious and capable cul-
tivation. The coal, iron and lum-
Der industries arc making money
ana prospering; wages have ad-
vanced in these, and the market value
Of the product has increased consid
erably.
"The general conditions are better
than year ago. The general inter
est rate is 8 per cent. III the State,
though lower rates are had in few
localities. There is little money in
the hands Of the people, and especial
ly is this the case of the agricultural
sections.
"The 6 reatest gain that has been
made has been in the iron industries,
the price Of pig iron having about
doubled within IL months. Money
is coming into the mineral region in
large quantities, and all values
there are no unhealthy boom symp.
TOMS"
Mr.. S. T. Bruncr, of the North
Carolina agricultural departments:
"First, excellent business condi.
tons prevail in this State, fair prices
arc paid for products aud labor
There is much building going on in
all parts of the State.
"The farming boom at the West is
not, however, felt here. But special
Misunderstanding and fruit growing
is increasing the profits of many
Southern farmers. The industries
that show the greatest gains arc cot
ton mills, tobacco and furniture fac
tories.
"Crops are promising to the ex-
tent that the tobacco crop is above
normal, and growers are curing
we'll.
"The prospective corn crop is 49,
100000 to 40,000,O00 bushels; wheat
is not SO good, but amounts to d..
100000 bushels; oats, 100000
bushels; sweet potatoes, 100000
bushels. The tobacco crop this year
will approximate 12,500,O00 pounds,
and cotton will approximate $50, ,0O0,-
600 bales.
"There are no less than 205 mills
of all kinds now operating in the
State, and ten more are under con-
structon. The tendency is to place
the mills where the raw material for
manufacturing can be got This ten
dency is working great change
throughout the South.
"Laborers' wages remain good.
The general conditions Of things az
compared with a year ago are better.
The purchasing value of money
now is better. The rate of in
terest for ordinary paper is 6 per
cent"
Governor Mcmillan of Tennessee:
"In some lines Of industry and of
traffic there is improvement over the
condition that prevailed two years
or one year ago. The improvement
is not found either in the production
or sale of farm products that there is
in the price of these things which are
owned or controlled by the trusts.
Those things the trnsts can raise at
will and to as high a price as
they please, therefore the com modi-
tics which the farmer has to sell
have not improved in value as have
those things which he has to buy.
"The improvement in the coal and
iron industries in the South has been
worry marked. Pig iron is being sold
in many places in the South at moro
than double what it costs to pro-
duce. Corn and wheat still romans
low, but with little prospect of i'm.
provement, and in this State with a
very short crop in sight.
"In reply to the inquiry as to what
is tho interest rate prevailing for or
dinary commercial paper, it is from 6
to 8 per cent, and money is more
plentiful in the banks than among
the people.
"a new industry has in tho past
few years sprung up in Tennessee
.-I~