The Washington herald., 1909-01-24
MONEY INVESTED IN SOUTH
Large Amounts Placed in Projects by
Baltimore Capitalists.
Much Revenue Derived from Stocks
and Bonds of the Railroads
in Dixie.

Baltimore. Jan. Z3-There are probably
more people in Baltimore who derive the
bulk Of their income. or a considerable
part OF il, from investments in high
grade stocks and bonds than in any other
city IN the country, pcpulauss considered.
This is a broad statement, but is borne
out BY persons familiar with investments,
also by files OF the register Of wills,
which show = large percentage Of estates
represented by stocks and bonds.
Baltimore ranks as one Of the leading
investment centers IN the United States,
and more than one Southern community
is indebted to local capitalists for their
present commanding positions. Millions
upon millions Of dollars have been poured
into enterprises in Dixie by Baltimoreans,
who stood by them when men Of wealth
in other sections OF the country consid-
cred the field not sufficiently promising
10 interest them II is estimated there
are more than 100 men and women in this
city whose fortunes range from s.. 0O0. 900
to S50.OO0,OO0, the bulk OF which is in
vested in income bearing stocks and
bonds
Baltimore capital played a leading part
in developing the electric lines Of Rich
mond, Norfolk, Portsmouth, Newport
News. Petersburg, Roanoke. Va; Atlanta
and Augusta Ca; Tampa. Fla; Lexing
ton. KY; Nashville, Memphis. and Knox
vile. Tenn. Formerly the policies of
those properties were dominated by Bal
timoreans. and they still are influential in
them, but control is Low held elsewhere
Likewise local capitai was conspicuous
in the development Of water-pOweT plants
in Virginia, the CaTOlinas. and Florida
and they were powerful aids in develop
ing the manufacturing enterprises in Ala
hama, Georgia, the Carolinas, Florida,
the Virginias, Mississippi Tennessee, and
Texas.
Railroads were built and equipped in
the South by Baltimore capitalists, some
Of the more important systems in that
section which owe their existence TO res
idents OF this city being the Atlantic
Coast Line. the Seaboard Air Line, the
Georgia and Florida, the Georgia, South
ern and Florida, and many smaller roads
The Southern Railway was materially
aided in its early stages by local finan-
tons OF the Atlantic Coast Line and the
Georgia and Florida, control Of the fore
going systems IS held in New York. but
Baltimoreans have extensive holdings OF
their stocks and bonds.
Baltimoreans have been described as
ultra conservative investors. They are
conservative in that they give schemes
OF adventures and wildcat promotions a
wide berth, but they viii take a chance
in propositions which show reasonable
feasibility. whether they be railroad,
public utility. industrial. or mining. This
city has always been partial TO the
South, owing 70 the traditional friend
ship existing between the metropolis Of
the South and the inhabitants Of the
great stretch Of country on the other
side Of the Potomac. As a result of this
feeling Southerners naturally regard Bal
tiTnore as the chief distributing point for
goods manufactured in the South and
consumed in that section Other cities
have for years endeavOred to displace
Baltimore from its commanding position,
only TO find that If Is too firmly IN
trenched even TO be weakened.