The farmer and mechanic. [volume] (Raleigh, N.C.) 18??-19??, 1907-07-23
Money Saved in Building
Associations.
BETTER HON S BUILT
Bank-Iarec Number II Hail
roads Projected In tlAe south
crn Statc-I1cScu in
North Carolina.
Especial to News and Observer

tSpeclal II News a1d e~b>erAeF
Baltimore. july ls-In his WeeA+
issue the Manufacturers Record SAYS
Evidence or the Sout1.s ~aeeuwuIat-
ing wealth j. seen in every direct one
No one can make "a trip through that
section "!th his eyes and ears ogea
without being impressed with the
many ways in which its financial iul-
proyement finds expression IN mate
rial things IL North Carolina, where
the building association idea As .
means for saving money n uo-oper4-
ton is very popular. the growth
Of building associations IN the last
FIVE years has been remarkable. These
associations are strictly local. Five
years ago there were IN North Carolina
in force 1850 shares in the local
building and Dan associations. TINS
represented a capitalization OF ST.
10000 at par. which at that time was
in process OF being saved There
were then - local associations Now
there are in that State over 100 local
associations With 10000 shares in
force, representing a capitalization OF
$1l,6o0.00O which is being paid for
by the weekly savings of North caro-
lima people. Thus In five years the
gain in the work OF the building asso-
Citations has been multiplied seven
times. While the deposits IN savings
banks in that State have materially IN
creased. There Is a growing tendency
throughout the South for the estab-
llshment of savings banks as separate
Institutions. and for the establishment
Of savings departments in connection
with state or national banks. a great
many national banks are opening say
ings departments which are proving
exceedingly popular with the people.
Another evidence of his prospect
" is everywhere seen in the building
of better homes. Increasing wealth is
finding expression not only in costly
dwellings,, but in the beautifying OF
private grounds. as we'll as in improve
ments looking TO the beautlfying OF
towns and cities. There is a great
demand throughout the South for
landscape gardeners and engineers.
and many from the North. where long
accumulated wealth has developed his
business into a Widely-eXtended pro-
f~ession, are finding profitable employ
ment in the South
The same tendency toward i'm
p~rovement is equally marked In the
mill villages, where newly painted
houses, flower gardens and shade
trees are the order of the day. Many
mill owners when they first COM
menCed the improvement Of mill VIII
lage life in this way. ten or fifteen
years ago, found comparatively little
encouragement among the people
themselves but year after year there
has gradually been developed in many
of the villages a local pride which is
now resulting in great advance in the
beautify ing Of the villages"
New Railway Projects.
During the first six months Of the
present year the Manufacturers Re
cord received repor of either the
formation or incorporation of 106 new
railway enterprises-that is, compa-
MES not connected with existing trunk
lnes-in the different Southern States.
Including Missouri. Indian Territory
and oklahoma. the total was 1873.
Some OF these companies represent
projects of several hundred miles in
extent, and while as yet comparatively
little has been done in h way of
construction, the incorporators and
promoters Of these various plans are
taking time by the forelOck, making
surveys, securing rights Of way or
bonuses. as the case may be, SO as to
be in readiness to push construction
when the financial market shall have
witnessed the restoration of its
equilibrium which will permit the nn-
dertaking of such work.
Texas has the greatest number Of
these new railway projects, her total
f. the six months being %. Next
4 comes Oklahoma with 16, then North
Carolina and West Virginia with II
each, Followed by Georgia and Mis-
sour WITH ~ edcn. Inc clIltI SldAtH
next in order and their numbe OF new
railway companies. respectively. are
as follows: Virginia, 9; Arkansas, z;
Tennessee Z; Alabama, s: Kentucky,
5: Louisiana, ); Mississippi. 4. Florida.
3: Maryland. 3; South Carolina, 8; In
dian Territory. 1.
There are many Of these proposed
railroads for the r Of develop
in timber or mining regions. but a
large number of others are designed to
n ffarJ roccarCer and freight f9riljfjGG
ever long distances, this being particu-
larry the case with transportation
plans in Texas. Indian Territory and
Oklahoma. where railroads of con-
H. -AAt