The Newberry herald and news. (Newberry, S.C.) 1884-1903, 1901-03-19
ENTHUSIASTIC
OVER THE SOUTH,
TRAVELLERS SrARTLED BY REvELA.
TIONS OF INOUsTRY TH2Hs .EEN.
The Farm. 70 Proap-r"us. Ranke Tive
Moro sn' plus Than for onR Time, and
are Inclined to Il duce Rates for
Loans-Opportunitirsf for bafs In.
$kHNy. V9Dtm-nt.

$f are Inclined to duco Ratrs for
Loano-OppOrtunitiss for Bnfs In.
.sEEdy vestm~nt.
8( SPECIAL to Richmond Va. Times.
Baltimore, Md Feb 28.-Recent
travellers in the South, men who oc.
cupied prominent positions in mann
faotures or finance are in position
to formulate the results Of their oh
R servations in practical Judgment, are
! enthusiastic over the South's indust
rial and commercial prospects. The
Manufacturers Record publishes THO
week quite number Of views thus
obtained which combined present II
lair survey of accomplishments aud
possibilities.
!g3s&% Condition Of the farm"rs ia pref
ty good index to the situation in
other human activities. Generally,
the farmers are enjoying degree Of
prosperity seldom equalled in past
years. They have money i'll bank,
and the effect Of this, as aeen by
close observers, is tendency ON the
part of local banks to reduce con
siderably their rate Of interest to bor
rowers. This manifestation ia quite
marked in Texas, where in tho won
derful and rapid development OF the
resources Of the State the people ar
accumulating wealth. Money re-
ceived from the cotton crop during
the past year or eighteen months
has made many man independent for
the first time in his life. HIS hank
account is in his favor. AMI banks IT,
many of the principal cities have
such an abundance of funds that the,
are able to lend up to all local and
neighborhood demands.
SURPLUS MONEY.
A>ol Ao'o Iuo Dhuhb Ill VI" But p1l-
money, for thousands Of farmers iu
Texas and elsewhere after paying
their indebtedness and providing for
coming crops on cash basis have
money still in their pockets, and
there is enough now iale, il is esti.
mated, to handle the cotton crop in
Texas without looking to New York
or other financial centres Local
capital, too, is absorbing securities
and is going in large amounts into
various enterprises, a desire to en-.
courage Investments from outsid'
also growing. Much local inves'-
ment goes into municipal improve.
ments of the constrnction of modern
buildings in the cities, while such
developments as that at Beaum 'n'
in the past month are impressing the
people moro and NOR. with the id.
of wealth to be had in the uncover
ing and working of other under
ground riches.
From Texas to the Carolinas, how
ever, it is found that prevailing high
prices for cotton are tempting to M,
increase of acreage, though agains'
this is the strep ythenad habit, ac.
quired in adverslty, of raising hom.
supplies and devot,pg more attention
to diversity OF crops.
COTTON MILLING.
Phases OF cotton milling in tie
Piedmont region have been revela.
tion to persons who have for the
first time been brought INTO clos
touch with them. The character and
the volume Of mill products have
been, of course, we'll known, but the
visitor passing from ono centre Of
industry to another, with visions Of
almost continual banners OF sm' k.
along the route, is astonished at the
size, the number and tho capacity Of
the mills, their great advantages in
location, command OF aterial labor,
and ability to meet rapi1l, increasing
necessities in the power line. At
Columbus and Augusta, Ca, at Char
lesion, s. O., at Charlotte, and at
many other points, he is impressed
with the cotton oil mills, where cake
and meal are made for cattle and
where even the last refuse OF wha,
was once practically all waste be