The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1904-03-05

former State Senator ]. Sloat Fassett, of
Elmira, n. Y. To him he unfolded the
scheme. Mr.. Hunt frankly said he had
not the money with which to develop the
project. Mr.. Fassett was an attentive
listener. Mr.. Hunt needed the money. 1t
was within the power of Mr.. Fassett TO
supply ii. Together they went to Korea,
and in year small ten-stamp mill had
been conveyed up the mountain and put
into operation.
The quartz was prolific in gold The out
put of the mill showed that there was a
golden opportunity. The result of this
was that a company was organized, with
many millions of capital, and Mr.. Fassett
found himself much weather. than he was
before, and Mr.. Hunt was once more sew
eral times millionaire.
This is the man who had twice won sue
cess and once had lost 1t through a panic
and who went to Egypt and the Soudan
for his health, spending the winters of
1902 and 1908 there. He became interested
in the great projects OF the British for
studied the railroad to the Upper Cataract
and the great dam at Assuan. But more
than anything else. he was interested in
Berber TO the Red Sea at Saukin.
He felt sure that the country lying south
of Berber was capable of exactly the agri-
cultural development that was attained in
the valley of the Nile nearer its mouth.
These studies in time resulted in a PROPOSE
ton from Mr.. Hunt to the Egyptian gov
eminent, which was entertained, and the
plantation in the very heart of what was
the Desert of the Dervishes q few years
ago is in a fair way of accomplishment.
Mr.. Hunt has written to friends in this
country that he will make S25,00O,O0 in the
valley of the Nile.
ANXIETY IN ENGLAND.
The phenomenal rise in the price Of cot
ton which has taken place in the last year
has aroused the cotton spinning interests
of England to a very lively realization of
their dependence upon the United States
for the raw materials of their industry. OF
all the manufactured exports of the United
Kingdom cotton goods are chief in impor-
tance.
For the last fifteen years the cotton man.
ufacturing industry of England has been
almost at a standstiIl, while rival interests
have been developing in the United States
and elsewhere. Eighty per cent. of the raw
cotton produced in the world is grown in
the United States, and the cotton spinners
Of the United States are requiring a con-
stantly increasing share OF IL.
Cotton spinners of England have been
watching the growing consumption Of raw
material by their American competitors
until they can anticipate a time in the
not distant future when this countrys en-
tire crop will be wanted by the mills at
home.
The significant growth of the new Sim
perial sentiment among the British peO-
Pile has fostered the desire to produce with
in the empire as much as possible the things
the empire consumes. There Is now wide
spread and profound belief among the Brit
ssh cotton spinners that the only salvation
of their trade is British-grown cotton.
HOPES REST IN AFRICA.
The most important results are hoped for
in Africa. by an increase of the Egyptian
crop and the development OF the industry
in the Soudan. The wonderful system of
water storage and irrigation recently es-
tablished on the Nile under British aus
pices has greatly increased the acreage OF
cotton cultivation. James Boyle. United
States consul at Liverpool, in a recent re-