The Washington herald., 1908-07-26

Thomas II. BoHles, who was recently
elected president OF the Baltimore Trust
and Guarantee Company, takes & hope
fuI view cf the financial condition OF the
South he is quoted IN the current nun
Der OF the BianufactuTers' Record as be-
ing confidently expecta1t that the fnza-
ciGI and Industrial progress Of the South
VIII go on until Il becomes not enly the
subject Of comment throughout the ccua-
try, but the wonder. q TIE financial
world
Referring t6 Tire recent panic through--
out the country. he remarked that ths
South. owing 10 its magnificent agri-
cultural strength, would be able 70 re-
cover from the effects OF the business
disturbances more rapidly than the resi-
Of the country; that the cotton crop,
based or the present condition as given
in the government report. promises %
be 10000 bales larger than last years
crop. Or total OF 10000 bales, a Yield
which. considered IN It's entire poszibIIi-
ties, including seed and other by-products.
would return TO he South n money about
leo 5000. Moreover. the country gen
orally would benefit because, as % per
cent of the crop Is exported. q great
amount Of fresh foreign capital would Be-
brought n. averaging OF late years -ss
/ high as 100000 a year from Europe
/ for raw cotton alone.
south Making Investments.
| Continuing. 8Ir. BOwles said:
The South IS investing more and moro
| n gIlt-edge securities and less n TIE
/ speculative character CT investments. The
pging up f. New York and other centers
of vast sums of Idle money is certain oc
one result. and that IS. 70 advance the
I price OF all good securities, particularly
bonds. and this result VIII come very-
soon. as the man with money VIII not let
/ Il remain Idle very long when ne has the
Opportunity 70 put II into well-securet
bonds 70 net him from 10 per cent
With the Ultra-co1servErIre investor.
who has not fully recovered from the
financial shock through which he has
passed. there IS danger that he VIII not
get his courage back until the best bond
securities have so far advanced IN prfcs
as 70 materially reduce his returns on his
Investment
The question OF inactivity IN business
generally should Cffsr 10 discOuragemenr
70 investing in a gilt-edge bond. IN fact
the opposite effect should prevail. as IL
activity IN business always makes for the
accumulation OF cheap money and always
/
better class One need lot b 2 prophet
; 10 be assured that q security which can.
De bought to-day on a OF : Per cent
basis VIII in a very short time be forced
70 q Q or per cent basis
Attitude sane and wholesome.
1t is gratifying TO observe the sans
. and wholesome attitude OF the South's
substantial interests toward capital SEEK
/ ing investment in this section As ths
- best business centers OF the Southern
E States appreciate more and more the
? need Of outside money 70 assist in de-
: veIoping their resources. the advance os
! this spirit Will make for decided in
crease y the volume Of capital from otheT-
5 sections seeking investment IL this greaE
= country
5 Commenting further upon the resources
- OF the South. President BowEes said:
We must remember the wide develops
! nent OF the lumber business here. because
OF the magnificent timber tracts through
E out this part Of the country Not only
? have timber lands greatly advanced oc
e late years. but agricultural lands as Well
: OF course. the rfse in value in irons
! coal. and a great variety of other min
= eraI lands has been large. but such prop-
South until they are on q parity with
: similar properties III tHs North and West,
2 and this means an enormous inc sase Ia
: the SOUth's wealth. We can be assured
> that when business IS again n full swi1S
= I the Southern States, with their great ana
= varied resources. so many Of which havS
r yet been but little exploited viii obtain
a far more prominent position than they
K have reached in the past Investors have
: their attention directed toward the South
. as never before. and IL would be a difd-
z cult task TO even approximate what
p would be the results OF their renewed
and greater interest IN the future Ot
u this section
n I'VE may be assured that the develop
L raent 10 come IN the region south Of
e Mason ard Dixon's line and the Ohio
n River viii he tremendous. and those who
: are prepared 10 take advantage OF the
& opportunities before them will reap grea5
q ards