The times. [volume] (Richmond, Va.) 1890-1903, 1900-08-24
GOOD YEAR FOR
SOUTHERN ROADS.
Mileage increased and Interest on
Indebtedness Reduced.
CONDITIONS GREATLY IMPROVED
Greatest Activity Manifested in Tex
tile Development-NIany New
Spindies Are Buzzing and
Plans Made for New Ones.
CONDITIONS GREATLY IMPROVED
Especial Dispatch to The Times

lSpecial DlSpItCu 10 LIE llLItS-J
BALTIMORE, August 223.-The fiscal year
of lS99-I900 was the most profitable in the
history of Southern transportation com
panes, if deductions which have been
made from statements thus far made pub
lie are correct. Although this assertion
may seem q very broad one, it is justified
by compilations of the earnings, etc, OF
representative Southern railway lines tor
several years past the railroads IN ule
South, as we'll as in other parts OF Inc
country, have been undergoing a process
Of transformation physically as well as
financially. Some of the companies nave
followed out the policy of considerably
adding to their mileage, others nave taken
advantage of the ease OF the money mar
ket to reduce the interest on their. lnoeol-
edness while all of the more prominent
corporations have been making extensive
improvements in the way Of new build
ings heavier rails and rolling stock and
the substitution of metal for wooden
bridges.
The last few years have also been no
table for the number of reorSanlzal tons
which have been carried out, in Wnlcn
several Southern systems have played
prominent part. The reorsanlzations nave
been attended by the floating OF large
amounts of new securities, ana IN se"eral
instances the pTactlcal reDuliuiiiS VI 'i4e
lines involved.
This process of transformation has oc-
c,pied a period OF several years, and the
wear ending June so last was really the
first in which the earning capacity OF the
lines under the new conditions could De
fairly demonstrated, as prior to this pc
Rod the plans for reorganization ana gen
eral Improvement We're still uncompleted.
WONDERFULLY IMPROVED
In viewing the developments Of four
great Southern railroad systems the Manu-
facturers Record says:
1T is not too much to believe that
Southern railway companies IN general
have experienced the prosperity which has
attended these companies, as SHOWN by
their reports, to a greater or less extent
In each instance the figures show, be-
y7onG a doubt, that the condition of the
companies has wonderfully improved dur
ing the period selected for comparison
and that the policy adopted in their ad-
nnistration has been conservative as well
as progressive
The week in Southern industry has been
rather notable for activity in plans Tor
textile development. 1t IS announcer that
definite arrangements have been completed
for the ecuiDment of the Neuse River
Mills of Raleigh \. C. The company
controlling them was Incorporated last
September to develop the water power
at the Falls OF the Neuse for manutactur-
ing cotton goods. 1t is now stated tnat
the company is about TO install o,o'o SPIN
dies and $50 looms in a granite building
for the production of brown sheetnSS,
the mill 10 be Completed by October 1st,
and the original investment TO be 100000.
1t is also announced t;lat the ide Cotton
Mills have been organized to build q 100000
spindle cotton factory and large bleiich-
cry at jacksonville, Ala. The company
has purchased a site of 100 acres, lnclud-
ing the Gernlania Springs which VIII fur-
nish. every a hours, 100000 gallons OF
water, which has been pronounced the
finest quality for bleaching and colorinS.
The mill will produce special lines OF
bleached and colored yarns.
Two textile industries are to be added
to Chattanooga enterprises. One IS the
Chickamauga Knitting Mills, with a cap
ital stock of So 000 to build and equip
a plant to manufacture ribbed underwear.
with a capacity of from 200 to 800 dozen
! garments daily. The other is the Goose
| knitting Mills, with $4,000 capital to make
| 500 dozen pairs of nose daily. The Rhopiss
Manufacturing Company, of Lenoir, n.
c., is preparing to develop the water power
at Double Shoals and to erect cotton
mill of 10000 spindles and 200 looms The
Blue Springs Mills, of oxford, Ala, which
has 2.49S spindles and so looms for the pro-
duction of converters' goods and yarns,
will double its capacity The RoNboro,
n. c., Cotton Mills. one of the new plants
of the past year, has purchased the fac
tory of the NOEL Brothers Pants Co., and
will enlarge it to an equipment OF loo
machines, installing as additional power
either steam engine. gasoline engine, or
electrical motor. Bids have been asked for
the erection Of the building required for
5000 spindles for the AIargrove Cotton
Mills, of Shreveport, La. 1t is stated that
contract has been made for the develop
uent of two water powers near Henrietta.
n c., to operate a 1000 spindle cotton
mill.