The Birmingham age-herald., 1912-08-25
Alabama Project Will Be Second Only to Niagara ; Falls in Huge Electri-
 cal Development
| CONTRACT PLACED
 FOR FIRST BIG DAM
 ON THE CO0SA RIVER
President James Mitchell of Alabama Interstate Power Company Talks of Plans. for Enormous De- yelopment Contemplated
 fer Alabama

Baltimore, August s4.-tspeeial1--- The Manufacturers Record publishes the following dispatch from New York, written by Albert Phenis, member of the Record staff:
 On top of the vast investment by French, English. Americans and others in southern properties. enterprises ands propositions. with $55,oo0.o0o of Eng fish money going into one southern de- 1lopment enterprise, and with many millions additional available through the same sources for further undertak ings, an almost startling degree of world recognition is given to the com- manding position the south occupies as field for large investment and broadest industrial activity. It would seem difficult if not impossible to eN- aggregate the significance of this, for it means that the world now sees what we of the south have known and preached so many years, 1t means that the day of fulhllment is al hand, and that the south. potentially the richest region on the globe, Is now to become the busiest and the most prosperous.
 First Contract Awarded
 Announcement was made last week that a contract ilad been placed by the Ala bama Interstate Power company for A dam on the Coosa river near Birmingham for a hydro-electric development of 50,o00 kiowatts In a talk | have had here with James Mitchell president of the company the great significance of the Mitchell companies presence in the south was made striSingly apparent. It is known that practically unlimited resources are at the command of these interests in this enterprise, and that a many sided deyel- opment is to follow so great in it's pos sible extent and ,rlety az to be we'll nigh bewild,ring For not only Is there to be an ultimate development of sex- era hundred thousand horse power on lhs Coosa, Tallapoosa and Tennessee rivers and their tributaries, within what may be termed th> Birmingham district but those interested in the several Mitchell com panics will in their individual capacity work for the establishment of new ndts- tries as users Of power, until the whole distrlct becomes vast workshop
 We will have around our develop ments second Niagara Falls" said MT. Mitchell "Engllsh-American cap italists who are interested with us have raised $2000, 00o for an electro chemical fertilizer factory. one-half to be expended fin the enlargement of | plant now operating at Niaraga Falls and one-half to build a new plant in
 
 electro-chemical concern abroad for d block of 10000 horsepower for the manufacture of line that has never yet been undertaken in this country. We have other enterprises in contem- plation, factories, mills. etc, and will foster the location of industries gen- orally.
 Large Investments Already
 This same group of capitalists has .I4 Ia tf,tr country and Canada. They had q fourth interest in tue Mississippi river devel- opment at Keokuk, and have invested heavily in plants in Louisiana and Mis- sissippi for utilizing the waste from sawmills for the manufacture of wood alcohol, etc.
 f'All of us are mitch impressed with the situation in the Birmingham district. and believe here will be q duplication of the Pennsylvania development. When I first knew Pittsburg 20 years ago, it was not so much bigger than the isirming- ham district is today. and conditions hera are entirely favorable for a tremendous expansion. When the government makes the Alabama and the Tomhigtee rivers navigable fl should give an outlet to the Gulf for heavy materials, Iron, steel. ce- Iuent and clay products, etc., and the opening of the Panama canal will enable the products Of the Birmingham district | ca and all Pacific ocean ports on a de- cdedly favorable basis"
 On the question of waterway improve ments MT Mitchell expressed sone posi- tive opinions A native of Boston, he has lived and engaged in enterprises in Eu- rope, South America and other places over the world.
 "While other countries have been in- proving their waterways,H said he 'Amer- lea has been the most backward country in the world The individual American has enormous enterprise, but we have a great. unwieldy government, too big for activity and too busy building federal buildings and political fences to look after anything else. Under these circumstances, individuals should be given a chance to develop the waterways.''
 Takes Over Six Companies
 Under the name of the Alabama Power company. the Mitchell group of capitalists organized to take over five or SIX compa-s nies which had been organized, but not financed, and which har found conditions nimical to their being financed in thIs country. The properties waret brought to tbe attention of the English capitalists last October Six months were spent in investigation. when the company was formed and the properties bought the be- ginning of March.
 Work of development will proceed as rapidly as may be. the nrSt unit to bo completed by the end of 1913. Other plants will come later. one on the Tallapoosa. 8 miles from Montgomery and 70 miles from Birmingham, and the largest one at Muscle shoals. on the Tennessee river. Power will be supplied to all north Ala bama towns and cities within 20O milen of the sitSs
 "tltimately | have no doubt we shan employ all the s55,000.o00 of capital which our bonds and shares represents Mir. Mitchell said We expect to make de- velopments as rapidly as conditions war rant. for We are operating. with a free hand. We are not tied up with gentle mems agreements or any other ohlisa- tions. The people of Alabama have given US, cordial welcome. for they recognixo the great advantage of having big blooHf of foreign capital, without ties. free an unfettesed. and they are very glad 0 have such interests with them M