The Birmingham age-herald., 1913-02-03
Reach Birmingham After a
Visit to Gadsden, Annis-
ton and Sylacauga
TO BE SHOWN OVER
DISTRICT TO-DAY
Party Will Be rendered Luncheon at
Southern Club Today and Will Be
Entertained By W. P. G.
Harding-Alabam Well
Known in London

several north Alabama cities and wonder
fully enthusiastic over the possibilities
here for English capital, the party Of
prominent British subjects arrived last
night to inspect water power develop
ments ard other properties financed by
Sperling & Co. of London.
The party is headed by G. Mackay Ed
ear active head of Sperling & Co., inter-
netional bankers; Sir George Prescott,
Bart. and James Mitchell of Sperling 4
Co, who is head of the holding COM
panies operating in this state. The visit
ols reached here two hours late over tie
Louisville and Nashville from Calera
they were operated special to Birming-
ham, occupying the private cars Rocket
and Pilot They remained in the cars
last night.
The visitors passed through this city
yesterday morning over the Alabama
Great Southern railroad and were Joined
by several local officials. Charles ~.
Moffett of the Southern Irons and Steel
company also Joined the visitors yester-
day morning and escorted them through
the Gadsden plant. Inasmuch as English
money started that operation several
ears ago, and is widely known among
London brokers, the Inspection OF that
Industrial plant was of unusual interest.
In Admission the party looked over the
street railway owned by the English in
terests. At Gadsden the same character
Of properties were inspected, while in Syl-
acauga the properties controlled by the
| company were given careful scrutiny.
To Be Entertained Today
The visitors will remain here today.
during which time they will be SHOWN over
the district in automobiles, will be gvea
luncheon at the Southern club and Will
also be entertained by ". 2. G. Harding
at his home.
| In reference to their visit to Birming
ham Mr.. Edgar and Mr.. Mitchell and Sir
George Prescott were uncommonly en-
| thusiastic.
| I'VE are here to see what Mr.. Mitchell
has been doing,' said Mr.. Edgar with a
most engaging smile. He has been tell
ing us of the greatness of Alabama, and
while looking over some of our other
properties / we decided to drop in here
for few hours. We are interested finan-
oially and as brokers in the securities.
and more than deeply interested in what
| has been going on here. There cannot lie
ary question but what a great develop
nient is possible in Alabama. We have
every reason to see a great future for
our Investment As the state continues
! to develop our properties will develop.
A cooperative spirit makes us interested
/ N bo A1a1, bas
been heard of great deal In England
By reason of your natural resources with
which financially operators in England are
somewhat familiar | believe there are
few states in the United States that can
reasonably claim a greater future than
Alabama. / am aware that you news
raper chaps are continually up against
this boosting dope: at the same time I
believe that Alabama is a great place,
and Mr. Mitchell and Mr. Freeman have
mapped out a great development here.
As our interests develop we intend 70
bring industries here and interest them in
our power. However, that is a matter for
the future. Just now we are interested
In seeing some revenue come back TO
us from the money placed in this state.
Sir George Prescott, who is a distin-
guished member OF the party, was in
terested in some mail from home at
the same time he found a moment to
say that the trip of yesterday had
opened his eyes, so to speak, to the
greatness of one of the states and that
he also believed the water power de-
velopments here would be great thing
not only for the investors but for this
state and district
Birmingham Has Good Reputation
birmingham has very fine repu-
tation among brokers in England" he
said. FOR many Of your Industries here
and elsewhere in the state have been
financed at least partially there"
President Mitchell of the holding
company, who has been here before,
said that the trip over the state had
been arranged for the visitors on ac-
count of their financial interest in the
Developments here.
you know, we have placed several
million dollars in Alabama buying up
small operations said Mr. Mitchell.
I'VE propose to spend many times the
amount of money that the government
engineers confessed was too much for
the government. Naturally, the men
who are putting up this money desire
first hand information.
There Is nothing new in reference
to our development here. We propose
to develop lock 1s when the govern
ment gives up the rights there and
if not we will develop Little river.
We launched this work upon broad
plane and hope to get lock IS. The
fertilizer plant, 20 which | referred
when last here, is being held up pend :
ing the action CT Congress on that lock.
IF we fail to ee, that we may be
forced to send that plant to Canada.
We are hoping that the Alabama dele
cation Will be successful in gettin q
that bill passed over the veto of the
President
'''rhe developments OF our interests
in this state II given the proper en-
couragement, as | believe they will
when concluded, represent a gigantic
amount of money, In that work We
will make rivers navigable without
cost to/the government; Will build wa
ter power plants. and will also locate
industries here. We are not phiIan- :
thropists; at the same time we will
contribute somewhat to the general
progress when everything has been
done"
The party will conclude their visit
to Alabama with an inspection of
Ocampo Tuesday and will return to
New York from Montgomery the same
night
W. Winans Freeman, vice president
of the company. who has been east
since the holidays. returned home with
the party. He did not make the circle