The morning news. [volume] (Savannah, Ga.) 1887-1900, 1900-02-02
CAPITAL SEEKS INVESTMENT.
NEW WORKERS WHO MAY BUILD
MILLS IN GEORGIA.

Representative in the state Seeking
y Information ns TO the Milling In
tercsts-Surprised That He Gould
Not Get II From Secretary of state
His Employers Are Ready to Put
Millions Into cotton Mills at Salts
factory Points.
Atlanta, Feb More outside capital
will he invested in Georgia this year in
the cotton mill industry than in any other
Southern state.
For the past few years South Carolina
has taken the lead in This respect, and
recently North Carolina has forged to the
front.
Inquiries have been made at the Secre-
tary of States office by representative
of the New York capitalists who a few
months ago invested 100000 in the mill
business in North Carolina, for data con-
corning the mil interests in Georgia and
the future outlook. The representative
in question is quietly visiting the mills IN
the state with view to thoroughly be-
coming acquainted with the conditions
here. and if such are favorable these cap
italists will invest any amount of money
necessary 10 develop the industry even
10 the extent OF 100000
1t is the purpose of these gentlemen to
buy stock in other mills when it is a safe
investment and such can be done. Should
any of the mills conclude that they have
sufficient capital upon which 20 operate
it, it is not the purpose Of the investors
to build news mills in that particular To-
-, Of ri Ia
existing mills, hut TO establish new fac
tories in those localities where the field
is an inviting one.
Secrecy Enjoined.
This representative has enjoined the
strictest secrecy on his movements for the
reason that the promoters of the new en-
terprise did not wish to be harassed with
real estate, material and other men, nor
with delegations from this or that locality
TO locate in their immediate vicinity. They
want to quietly survey the field and pace
their investments where they win bring
the best results.
The representative In question came d-
rect to Georgia from North Carolina,
where a recent deal was cOnsummated,
and he Is now making tour of the Geor-
gia mills. He applied to Secretary of
State Cook for information as to the To-
cation of the several mills in the state,
and the amount of The capital invested
in each and the relative value of the
stock of each mill as compared with its
bonded Indebtedness. and was surprised
to learn that this informant ton could not
be supplied by the Secretary of State.
He said all this Information could be
found in the Secretary of States office
in North Carolina.
Information Bureau Needed.
In this connection, the fact is recalled
that Secretary Cook recommended to the
last general assembly that all charters of
this kind of manufacturers be grant
ed by the Secretary of State offices where
such would be open at all times to the
public Right on the heels of the failure
of the legislature TO provide for such an
emergency comes a large slice of capital
knocking at the door for investment and
there is no one able to properly set forth
the great advantages of the state for such
industries. OF course, this capital is GO
ing to be invested anyway, but who
knows how much has been lost to the state
because of this lack of information. The
information sought by this advance agent
fabrics, but includes also hemp and cord
as well as the finest stamped products
In addition to the recent announcement
the George w. Scott Investment Company
of its intention to build a new factory at
Ingleside it is reliably reported by Mil
Engineer Walker of this city that three
other large factories are to be built soon
contiguous to Atlanta Many men who
have looked carefully into the situation
believe that a year hence, the capital in
vested in cotton mia enterprises in Georgia
will be double what it is now an era which
all will hail with delight.