The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1911-06-10
Northern Capital Sc e IS
Great Fiel d for
Investment.
INSPECT STREET
CARLINES TODAY
New York Capitalist Predicts
Wonderful Period of Develop
ment in South During Next
Ten Years Calls Rich
mond Gateway to
Prosperity.

~ . t.
Looking to Richmond as a field for
I further investment, about Atty repre-
sentatives OF large banking houses OF
New York. Philadelphia. Baltimore and
other Northern cities. arrived in Rich
mond last night. The party comes here
under the auspices OF N. W. Halsey 4
CO.. bankers. Of New York and Phil
adelphia who have recently placed
a about 100000 of the bonds OF the
Virginia Railway and Power Company,
and who propose 10 deal even more
largely In the future In high grade
Southern securities. A. G. Hoyt and j.
$, Auchincioss. members OF that firm,
4 nre personally conducting" the party.
with r. Lancaster Williams and w.
X berkley Williams, formerly OF Rich
mond, now members OF the Arm OF
Middendorf. WiIliams &: Co, or Ba,ti-
more. 5
Tho Baltimore party, led by r. Ian
caster Williams, came by way OF Nor
folk. inspecting the street car lines
there which It is proposed TO merge
Into the Virginia Railway and Pow er
CoMpany's system, and arriving in
Richmond about : O'clock ovor the
Norfolk and Western. The larger mum
Der OF the party came In special cars
from New York and Philadelphia. ar
Z riving at Main Street Station about 10
o'clock last night.
TO Inspect Local Linen.
The visitors plan 10 leave the Jcrrer-
son Hotel this morning at o'clock in
special trolley cars for a run to Peters
burg; then back to the Twelfth street
morning 70 be spent In riding through
the Eastern manufacturing, shipping
and railway sections OF the city
Al noon President Northrop, OF the
Virginia Railway and Power Company
VIII entertaih at lunch at the West
= moreland Club. In the afternoon the
car ride VIII be resumed touring the
Western part OF the city. and reaching
4 the Country Clublof Virginia late In
theAafternoon.7 A dinner will be given
:. tonight nsfithe Jefferson H otel Spe-
cihl cars VIII be attached TO the i.50
q N. Atlantic Coast Line train to-
morrow morning for the return trip.
When the social features for tonight
are over the visiting party VIII go at
once TO Its private cars in Byrd Street
Station.
h An Educational Tour.
w. Berkeley Williams said last night
that the trip was largely educational
that Northern bankers realized the
enormous future before the Southern
States and cities. and had expressed a
desire to see something OF Richmond
Mr.. Williams said he believed the visit
here and tour OF inspection OF such a
party TO be OF the greatest Importance.
as Richmond had already every ad-
vantage In location and public i'm
provement, needing only capital for
enormous manufacturing development,
and that capital the firms represented
stand ready TO supply. While much
L time Will be taken in travelling over
the lines of the street railway system,
the meaning of the trip, he thought
was much deeper than the mere float
Ing OF an Issue of street railroad bonds.
Mr.. Hoyt leader of the party, aid
that he was deeply impressed with the
opportunity for Southern investment
and develop mont: that from the strides
which Richmond is making. he BELIEF
ed 1t was the gateway to a section Of
the country which in the next ten
years Will lead the world in progress
and development.
Predicts Prosperity
i am delighted" said Mr. Hoyt -'at
the opportunity OF coming down myself
and OF bringing with me number OF
friends, who, feel. Will become more
and more closely identified with this
, prosperity for the mutual benefit of
all parties. With the trust decisions
out OF the way. with definite principles
and policies laid down eliminating all
uncertainty SO that corporations and
investors know just where they stand.
feel that the energy and thought OF
press and people will now be given to
the discussion Of business conditions
A and how to improve them Any doubt
Z OF pessimism that may have been felt
VIII give way to optimism, and in my
/ View great era OF industrial prosper
ity is just about 10 lie ushered in.''
Mr.. Auchincloss was enthusiastic
over his first view of the main lobby
IJnta On, ~. nj rol : CT
night, saying that first Impressions
were always lasting, and that the en-
tire party had been most favora bly,
\ impressed by the hotel and the
4 glimpses of the city by moonlight in
driving uptown AS to business con,
ditions Mr.. Auchincloss said;
The mercantile and financial struc-
ture|rests upon a more solid founda-
ton to-day than ever before, and with
( proper encouragement there is no rea.
son why this country should not be
Il realizing real prosperity before the
close of the current year.
j&"Corporations are raising new cap
ttal an operation they find compare
lively easy If they enjoy credit. and
with the money they are borrowing
|. they are charging plants and other
! wise extending facilities that they
may be in position to reap their share
OF the expanding trade,
Members of Party. 3f
Guests of the N. w Halsey Com.
1 pany on the trip are r.. T.. Bigelow,
+ representing Bigelow & Company. New
!, York; Carrall l.. Carmine. represents
4, Ing Crouch & Carmine. Baltimore;
7 George A. Colston, representing Coll
4 ston. Boyce & Company, Baltimore:
q William u Devon. representing Owen
DAILY & Company, Baltimore; Henry
I. L. Duer, REPRESENTING Whelan. Duer &
Lannahan. Baltimore; r. r. Hamilton,
4 representing Crouch & Carmine Bal.
timore; G. Ransome Hartman, repre-
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