Atlanta semi-weekly journal. (Atlanta, Ga.) 1898-1920, 1910-03-29
GEORGIA LEADING UNION
Says This MILL EXPERT
Declares that the South Will
Wrest Cotton Manufacturing
Supremacy From North

"Financiers, economists and manu-
| faturerers have aIaIyzed the situation
very thoughtfully and appear convinced
that the south has barely scratched the
surface of the economic possibilities.
says w. Irving Bullard, mayor OF Dan
| ielson, Conn, who is registered at the
! Piedmont. He. has been spending the
past three weeks in the manufacturing
cities of Georgia, and believes that the
southern group of states are on the
verge of a broad economic expansion OF
| industrial activity. ft "a
Mr.. Billiard, who is vice president of
! the E H. Jacobs Manufacturing COM
pany, manufacturers of cotton mill sup
plies, a director of New England cot
( ton mill and a member of the Nationa!
Association of Cotton Manufacturers.
has made thorough study of industrial
| economy, particularly the textile branch
and his editorials appear In Cotton"
which lis one of the leading textile pub
| locations in the United States. In con-
Versation with a Journal reporter, Mon
day Mr.. Billiard Said:s p
Il find ample justification for the
active interest displayed in southern in
dustries by northern financiers and ia
vestors, and am of the firm conviction
that this state will witness broader
/ development of it's natural resources
during the next five years. than any pc
Rod since the great industrial awaken
ing Nature has endowed your state
very bountifully with fertile lands and
climate that cannot be excelled for ag-
ricultural purposes, and / am convinced
that there are greater opportunities for
profitable investment of capital in the
state of Georgia than any other state in
the union.
RIVALS NEW ENGLAND
New England has held the suprema-
cy of industrial activity for many years,
and she still holds it; but I can see In
the near future. competition that will
make New Englanders waver in their
opinion of industrial supremacy.
The New England and middle Atlantic
group OF states represent the major part
of the investing wealth of the country.
and it is from these states that finan-
cal backing is gradually but permanent
ly being directed toward the south for
profitable investment. The textile indus
try as a solid fundamental investment is
undisputed. In an address I delivered be-
fore the National Association of Cotton
Manufacturers at Boston 1 gave a list
of cotton mills in the New England states
that are paying from to 20 per cent an
nual dividends with large extra dividends
every few years and with dividends rec
ords of half a century. Since calling the
investing public's attention to the value
of cotton mill stocks as safe investments
there has been a gradual absorption of
such issues until today the leading New
England cotton mill stocks are selling on
basis of from to per cent investment
return. or slightly in excess of savings
bank interest.
HIGHT COST OF LIVING.
THE high cost of living demands that
the investing public secure a better rate
of investment return on securities than
a mere per cent, consequently investors
have looked toward other sources for the
profitable employment of surplus funds.
The highly erratic stock markets in Bos.
ton and New York do not appeal to the
old school investors. From this condition
there has developed demand for south
ern cotton mill stocks for New England
and New York investors. tr
4 From this recent influence there is
developing a broad current of northern
capital sweeping toward the southern
states for investment Southern cotton
mill stocks pay greater return on mon
ey invested than northern and their COM
handing position as regards raw material
gives theoretically greater stability to the
industry.
PART ATLANTA PLAYS
Now, then, the result of this inter-
est in southern mill stocks has been
Exceedingly broad. Many Boston banking
houses have sent their managers of tex
tile securities departments to Atlanta to
secure general information regarding
southern issues. From such missions there
has developed a general interest in in
dustrial Georgia.
Atlanta is considered the logical dis
tributing point of northern investing
capital not only because of it's geograph-
ical location, but because of the large
banking and manufacturing interests al
ready esta blished by northern interests
in this city.
Northern capital has been used to pro-
mote industrial and commercial activity
til recently has the individual investor
and the banking house sought southern
sources of investing funds for more sat-
isfactory income return than could be
secured at home.
1.-The scientific culture of agricultural
pursuits is broadening the products from
the soil of Georgia. In one of the coun-
ties in lower Georgia 1 was told by
responsible farmer that he had planted
cotton, corn and wheat on the same
farm and reaped very satisfactory crops
of all three commodities. The native Geor-
gian has been slow to accept scientific
farming; but the experience of the past
year when the cotton crop was entirely
inadequate to supply the manufacturers
will stimulate farmers to greater interest
in modern and scientific farming.
81 believe that the outlook for indus
try commerce and agriculture in the
southern states, and particularly in Geor-
gia, is more encouraging than ever be-
fore. These industries are on the verge
of great development and will vastly in
crease the wealth of this state