The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1910-06-27
MALLORY SPEAKS OF
WORTH OF DISTRICT
Financier Is Making an Inves-
tigation for Capitalists
OPPORTUNITY is GREAT
Says Development to Date Has Been
Marvellous and Greater Things
ProbubIe-Is n Brother of
ii. S. ID. Mallory
OPPORTUNITY rs GREAT

Birmingham is the hub OF the greatest
Industrial development In America To-
day"
The sneaker was T. S. Mallory, prom
inent flnancier of New York city lie
has been in Birmingham and the district
for several days making special lnVesu-
CATION of iron. coal, railroad and otner
industrial possibilities for the information
of associated financial interests IN the
United States and Europe.
Mr.. Mallory is a southern man. He was
born and reared in this state, and Is
brother of II. S. D. Mallory of Selma.
Though l left Alabama and went to
Wall street % years ago, l have never
lost interest in the development Oh my
native state" continued Mr.. Mallory
Pride in Development
81 have made frequent visits to Alabama
during the % years OF my ABSENCE anu
II is with great pride that l note the
steady Improvement of business and IN
dustrial conditions. / passed through the
state three years ago on a special investl-
CATION of some railroad development Inc
Improvement in the Birmingham district
since that time has been wonderful.
Though these three years were years OF
much uncertainty in the financial worlo'
the Birmingham district seems to nave
been but little affected.
THE people of this district do not seem
to realize the great possibilities OF this
section. You have passed all experiment
al stations in the course of yopr deVel-
opment and nothing now remains but the
substantial development of your known
resources l know of no better section
for the investment of money seeking O
steady and sure return.
There are millions of capital in Amer
lea and in Europe seeking just such in
vestment as is offered by the ied~re-
sources of this district. 1t is for the in
formation Of such capital that l and
others have come to this district
Capital Is Coming
There will be no lack of capital in this
section when those who have money to
invest are familiar with the true condi-
lions.
II have taken occasion to investigate
the gas and oil fields in Fayette and adj
joining counties. l must say that I
am surprised at this new feature of Ala
bamas greatness. The indications are
very promising. / am not an expert In
oil and gas, but I am assured by those,
who are that the indications are as prom
Using here as they ever were in Penn
sylvania or any of the other fields in
the United States for both gas and oil.
manner in which these gas and oil pres
poets are being financed. The money for
small means, who can Ill afford to finance
by the little fellows, clerks and men of
small means, who can il lafford to finance
such great enterprises The big men OF
the district are not taking hold of the
financing as it seems to me they might,
but this is the case in almost all prospec-
tive developments. The big man usually
waits to see what the little man will do
before he is willing to put much money
into the work. sr..A-s. 49,
Small Investors
Much credit is due those daring men
who have taken the lead in the develop
ment of this new field of industry. but
more credit is due the man of small
means who has faith and is putting his
small savings into the work. They should,
and. hope they WILL be vel Rewarded
financially
II am here for the purpose of making
special investigation Of railroad tonnage,
iron and coal developments and other con-
ditions affecting the investment of capt.
tai in industrial enterprises. 1 am seek
ing this information for American and
European capitalists who have been at
tracted by the unusual combination of
natural resources in this district.
These men with capital to invest want
to know the facts. They are interested.
They want to put money where it will
bring ready and sure returns. They are
not investing for the future or for pos
terity. They want present benefits. They
want to see something
II am certain that / can commend this
district. ] am thoroughly satisfied with
the Investigations that 1 have already
made. but will remain in the district for
few days longer. I shall make my work
thorough"
South Cardinals Enterprise
Speaking incidentally of the souths
enterprise and ability to take care of its
own affairs, Mr.. Mallory told an interest
ing story of the floating a s1.0O0.000 bond
issue by the state of North Carolina. He
| said: ut was during the administration
of Governor Lee. I was called to North
Carolina to undertake the placing of the
Issue. I went down with the idea of
placing the bonds with some foreign inter-
ests l represented. After the contract
had been closed Governor Lee said: Now
Mr.. Mallory. we want these bonds placed
in North Carolina with North Carolina
| people, was astonished. | hesitated
to undertake the job, but the governor as
sured me that his state would take the
| bonds.
| IT went at the task, half-hearted at
first, but soon discovered that the gov
| ernor was right In comparatively short
time i was successful In placing every dol
lar of the issue with North Carolina peo-
pie.
Now, every state in the south could
do this If the people would only wake up
to their true possibilities. 1t shows not
only fine patriotism, but faith and enter
prise as well. The day is coming. and that
not far distant, when the south will be
able to take care of itself in every emer-
gency and on all occasions. but now you
want foreign capital and all you can get
for the primary development of your i'm
mense resources
1pANT0R NpEAKC tn