The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1903-01-04
Tremendous Increase Over
1901 in Cotton Receipts.
THE MASONIC TEMPLE IS A REALITY
Some Splendid New Buildings That Have Been
Completed or Contracted for---Unpar-
all led Deposits in the Banks at
the Close Of the Year Show
Prosperity.

Prosperity.
OF the tremendous, far-reaching ana al
most unprecedented industrial growth OF
North Carolina during the past twelve
years. her capital city has had a far
snare. and the year 1902 has not been the
least of those twelve years by very
great deal.
Raleigh has grown in the past year.
She has done large volume OF business,
larger than in any other year. She has
taken several long steps toward bril-
liant Industrial future, and taken them
firmly so that no danger of slipping back
can be apprehended
There have long been felt two or three
immediate and pressing needs for Rail
eigh. The year 1902 has been marked
by the capitalization of plans to supply
these needs in the most practicable and
best way and with the cooperation of
the city's leading business and profess
sional men.
Besides the wants Just touched upon,
there was for several years among bust
ness men a deep regret that Raleigh had
1902 has seen that regret chased away
before wagon-load after wagon-load of
the bright golden weed being driven in
to Raleigh Two big warehouses have been
profitably conducted all the season, and
arrangements have been completed for
the erection of other warehouses, prize
house and storage house. So in 1902
Raleigh again became a tobacco market.
And the tobacco was not a single
blessing. The bringing of tobacco here
became an incentive to the bringing of
cotton to the same market, and so the
cotton business, which for several years
had been on the wane in Raleigh, took
a wonderful start this last year. and
things almost began to look like old
times again, when our city was a good
cotton market.
The bank statements for 1902 show
an enormous amount of money changing
hands, and unequalled deposits now on
hand as we'll as greatly increased sur
plus. Moreover, the establishment of
new trust company has added 500 900 to
the capital invested in the city, and put
something like 100000 circulation more
than before.
All lines of trade, wholesale and re-
tail show vast volume of business trans
acted, and stock in splendid condition, as
we'll as markedly few assignments Sew
eral new firms have commenced business,
with every prospect of great success.
Last year was great year for build
ing in Raleigh. Notable among the new
structures completed or commenced are
the splendid five story modern office
building of the Carolina Trust Company,
the new building at the A. and NJ College
including the completion of the Textile
Building, or model cotton MILL the CEN
trail building of the Methodist Orphan
age, church and various other build
ings at the Catholic Orphanage, a new
knitting mill, many large additions to
the various cotton mills of the city. and
several fine houses on North Boylan
avenue.
Just completed a few weeks ago was
the splendid block of five brick stores put
up by Mr.. Ed. Chambers Smith on the
corner of Martin and Blount streets. This
is substantial addition to Raleigh-s
commercial growth, and makes decided
advance in that particular section of tho
city
Still another great improvement during
the year was the renovation and extensive
Improvement of the old Branson House
block, known as the Hogg property.
This has added very greatly to the at
Effectiveness of that part of the city and
has done a great deal to improve the
surroundings of the Capitol square.
The Auditorium Company completed
the purchase of the Academy of Music
building and as soon as the present lease
expires, which will be this spring, WORT
viii be commenced on the construction OF
modern. we'll arranged auditorium.
Some other buildings contracted for dur
ing the year are the new church of the
Good Shepherd, the Epworth church, the
Masonic Temple. new tobacco warehouse
prize house and storage house, new build
lngs at Soldiers Home, handsome new
nome OF Mrs. Lee on Blount street, resi-
dence of Mr.. w. w. Smith at Halifax and
North streets. In all, no less than 12t
permits for building were granted by the
city during the year.
Besides all this a number of gentlemen
are organizing for the purpose of erect
Ing additional buildings for the accom-
notation of winter visitors to Raleigh
and all the plans may be completed be-
lore another season opens.
The past year also saw established in
halelgh an institution which doubtless
means much for the city as a centre OF
scientific learning. This is no other than
the Medical Department of the Univer-
sity of North Carolina, and comprises the
two years final course in medicine. sup.
Elementary to the two years at the Uni
Versity proper. Thus the students are
given the benefit of practice and clinics
IN the various hospitals of the city. The
department opened last fall, and so fal
all is suspicious for a splendid career Of
usefulness.
Perhaps one of the most significant
Facts so Tar as mechanical industry i: