The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1911-10-29
.GOULD'S VIE WIS
OF OLD VIRGINIA
The Big Investor Tells OF Rich
mond's Advantages Liberal
and Progressive People.
SOUTH THE PLACE TO INVEST
Virginia's Magnificent Water
Front and Its Great Future.
Richmond in the Lead.

Richard H. Edmonds. the editor Of
the Manufacturers Record, of Balti-
more. was in New York the other day
and had long talk with Frank Jay
Gould. In the last issue OF the Re
cord Mr.. Edmonds prints in full his
interview with Mr.. Gould.
Il would rather invest in the
Southern part OF our country than else
where. for. in my opinion. that is the
section that is 10 share more than tho
North, East or West in the future en-
hanccment OF values
That is what the fnancier said TO
the veteran industrial editor. and the
editor adds that Mr.. Gould has already
proven his faith by his works. as he
has OF late years put some millions Of
dollars into Southern development en-
terprises. In the days when the hnan-
cial world had but little faith in the
South, Jay Gould Invested heavily in
timber properties in the Southwest, as
we'll as in the building OF railroads
and so there may perchance be an in
herited tendency in the family which
found expression in the great street
railway and electric power develop
ment work in Norfolk and Richmond
and in hydro-electric operations in the
neighborhood. by the son..
Foundation for His Faith.
In discussing the outlook Tor the
South. Mr. Could expressed to MIR
Edmonds his enthusiastic belief in the
future OF this section in the statement
that he would rather invest money
mere under present conditions than any :
where else in the United States.
Il have great faith,1 said Mr. Gould
in the broadest development of the
whole South. and. of course. am deeply
lmnrpGGaG hn Ia, al Of ~.
Richmond Norfolk section as illus
tratinG what will take place in growth
throughout the Eastern and Central
South. In the enlargement OF the
operations OF the Virginia Hallway
and Power Company. controlling
the street railways OF Richmond ami
Norfolk, that company is planning 10
spend much money during the next
three years, ana, in fact. its board OF
directors has just authorized the con-
struction of new power plant in
Richmond to cost about 100000 to
meet the growing demands for electric
current.
Hichmond In the Lend.
Both of these cities have. in m.
Judgment. very great future. PEI
haps Richmond Is growing more rap,c-
ly just now than Norfolk. but the LAT
ter city has wonderful possibilities. It's
hdrpor is superior even TO new oTk >,
and with the opening OF the Panama
Canal great quickening in the COM
merce of the whole Hampton Roads
basin should take place. Both Rich
mond ana Norfolk must inevitably be-
come cities of the first magnitude.
Richmond has shown an aStonishir :;
growth as an industrial centre. and It's
financial people have for years taken q
very aggressive part in the develop
ment of the railroads and business in
terests of the whole Central South II
is thus a place of strong financial
leaders as we'll as great manufnc.
turing point
Only Hint of the Future.
The Hampton Roads basin is even
now one of the largest coal-shippina
pbnts In the world Connected as II
is by the Chesapeake and Ohio the
Norfolk and Western and the yirg.niar
Railway with what has been termed
the heart of the bituminous coal
field of America, that Is, the great
central coal region of West Virginia
Southwestern Virginia and Eastern
kentucky. the present coal trade of tho