The Richmond Virginian. (Richmond, Va.) 1910-1920, 1911-06-10

Realizing the advantages anu iHA"
portance Of the South as Il safe ana
profitable field for investment about
fifty northern capitalists are on tour
of inspection Of several Virginia cit
les. The party arrived in Richmond
Friday night some coming from Nor
ftlk, others from Philadelphia and
New York. Those arriving mere from
Norfolk were Baltinorians who spent
Thursday night and Friday IN the city
by the sea.
These financiers are looking tor
good investment of their money and
realizing the Advantages the South has
10 offer for manufacturing enterprises
are looking over the big Virginia CIT
les and express themselves as ready
and willing to furnish all the capital
necessary fer good business purposes
Visit Big Merger Scene.
The. prime cause for the visit Of the
millionaires at this particular time is
the recent merger of the electric rail-
way properties OF Norfolk and Rich
mend, which becomes effective July
next. Bonds In the sum of Sa,ove,ooo
Will be issued by the combined COM
panies and il is understood that lively
bidding will be made fer the entire
issue.
Saturday morning the rich men were
president OF the Virginia Railway and
Power Company. and proposed head OF
the big combine and also Frank Gould
personal representative In Virginia.
Special cars were used TO take the party
10 Petersburg over the interburcan
line. betw een Richmond and the Cock
AIDE City.
| Returning from Petersburg the Wis
| itors were taken to the giant power
| Al ha sk1f az
Street and then taken by trolley
through the eastern part OF the city,
| where are located many of the manu-
featuring and railroad properties.
Midday Lunen.
| A mid day lunch was served at the
! Westmoreland Club with MIR. Northrup
| as host, after which the nnanciers
We're taken through the western sec
ton OF this city and thence to the
country club over the esthamptor
/ route.
| Saturday night a dinner Will be CIV
en- at the Jefferson hotel when the
visiting capitalists will be introduced
to some of the prominent business men
of hiehmond.
In Private Cars.
The bankers all travelling in private
cars when are at BYRD Street Depot
After the entertainment OF the evening
is over, the party Will go to theii
| cars and spend the night. SUNDAY
| morning these cars vii be attached t.
the 100 "A. M. tram over the II. r, d
! +. X. II. for home.
Much more Importance Is attached
/ TO the visit of the rich men tnan the
floating OF a. paitry three million dol
lar electric railway bond issue. Ii Is
generally believed that it Is the era
OF industrial prosperity. which will be
spread over the entire Southland. i
New Workers Pleased.
Mr.. Hoyt, leader OF the New York
party. said that he was deeply i'm
pressed with the opportunity for
Southern investment anu develop.
ment, that from the strides which
Richmond is making, he believed il
was the gateway to a section of the
country which in the next ten years
will lead the world in progress and
development.
Il am delighted" said MIR. Hoyt, "a,
the opportunity OF coming down my.
self and OF bringing with me mum.
Der of friends. who, feel. will be-
come more and more closely identified
with this prosperity for the mutua
benefit of all parties. With the trus
decisions out of the way. with def
mite principles and policies laid down
eliminating all uncertainty. SO thai
corporations and investors know. jns
where they stand, I feel that the en-,
] ergy ana Thought 81 press and PEG ,,
pie Will now be given to the discus
sion of business conditions and how Il
improve them. Any doubt of pessi
n1ism that may have been felt vii
give way to optimism. and in my view
a great era of industrial prosperity /.
just about to be ushered in"
Lancaster Williams Leads.
n. Lancaster Williams. of Balti-
more. formerly OF this city and mem
Der OF the firm of John l.. William.
a Sons. bankers, piloted the men ol
the Monumental City over the Nor.
folk trip. Mr.. Williams he, of course
enthusiastic over Richmond's possi-
bilities, and says the Baltimore people
are delighted at the conditions a!
found to exist in the Virginia cities,
MIR. Auchincloss, Of New York, was
enthusiastic over his first view Of this
main hobby OF the Jefferson hotel on
larriyal last night. saying that first