El Paso daily herald. (El Paso, Tex.) 1881-1901, 1900-04-21
CAPITAL COMING.

Texas at present possesses but four
cotton mills, and these. 1t is claimed,
are making profit Of so per cent on
the value of the investment. Do the
people of the state need greater in
centive to CONT ine effort and ind ustry
for the establishments OF addition al fac
tories? Waco, Bonham. Calvert, Long
view, Tyler, Texarkana, Hend erson,
McGregor, Cuero, Beevile, San An
tonic, Westherford, Denison, Cald we'll,
Corsicsna, Navasoto, Morgan, Honey
Grove, Denton, .Greenville, Wsxa-
hachie, Decatur, Ferris, Mckinney,
Paris and Sherman have each srrang-
ed for the necessary capital and will in
the course of few months commence
the erection OF CO, ton mills with vary
ing capacities, and begin an era OF
commercial activity comme nsurate
with the industrial possibilities along
that line.
This awakening of Texas is being
watched In the financial centers of the
country and such friep dly nter est is Low
taken by eastern capitalists in PROPOSE
tons to invest their money in Texas
that some represer tative Texans in
New York have outlined plan
by which they hope to fully inform
capitalists upon the changed condl-
tions.
Since the defeat of the
new tax bill by the special ses-
sion of the legislature and the manifest
opposition Of the great body Of the
people to its drastic provisions, became
known in eastern money centers. it has
been far easier for business men from
Texas with safe and practical PROPOSE
lions to present to secure a hear
ing and gain respectful consideration.
This change in the attitude of
capitalists toward Texas has been
pleasantly impressed upon some Texas
promoters who went to New York be-
fore definite action had been taken up
On the tax bill and had met with q
chilly reception and listened to dis
couraging and disparagipg criti-
cisms upon the public policy OF their |
state. Now th ey find doors, hith erto clos |
d,open to them and they are invited to |
discuss and unfold their projects for
the forwarding of which they seek the |
aid of eastern capital. Bankers aud |
investors In New York are outspokea |
in praise of improved conditions in |
Texas and do not hesitate to let it be
known that If there is any assurance
that the improvement Ia stable and |
permanent In character an abundance
OF money will be found moving toward
Texas to help in the development of |
her resources.
One Texan who has been in New
York q few days engineering big
street railway deal for one of the
largest cities in north Texas, had mat
tsrs closed up and details all settled
within a week after his arrival He
was one of those who went to New
York a few months ago and when his
business became known found it almost
1 m possible to gain he airing from the
6nanciers with whom he sought to do
business. They coldIy told him they
were not hunting investments in Tex
as and did not care to give time 10 dis
cussing such ventures. He comes back
home this time with his deal closed,
involving spot cash payment Of near
ly $1,000 and the assurance that
there is plenty of money in New York
TO aid legitim ate and practic al schemes
for the betterment of Texas ss long as
the people show a Willingness to take
care of the investments.
He says that he will submit at an
early day TO the board of trade and
other commercial bodies of his city
to launch an educational
campaign in Texas by securing the SER
vices Of veil known representative
business men, whose jud gment and
standing fare above question, in telling
the people the plain truth as to tie ex-
periences OF those who have visited
CT Il aid for Texas enterprises. He be-
Ii ives. the people are now alive to their
st interests in this respect and when
fully informed: as to the sentiment of
outsiders, he thinks there will be no
more heed paid to the walls of calamt-
~ shriekers. He argues that 1t Is hard t
to convince farmer with well filed g
crib and small bank account that 1
Wall street barous are rushing them t
% poverty and destruction. The plan
Jug gested will be presented in prac.i- I