The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1922-11-12

from the defeat of two years ago; in the in
dependent press tendency to take philo-
sophical, and, on the whole, pleasant view
of the returns; in the republican press there
is an attempt to explain what, even before
the elections, must have been regarded as in
evitable. The republican press has for long
been in the main out of sympathy with the
party program, particularly the tariff, and
deserves whatever credit is due for that good
judgment.
BIRMINGHAM FOR INVESTMENT
Far-seeing eastern capital is regarding the
south with more and more of the idea of in
vestment in this uncrowded, richly-endowed
and growing section. The southern textile
industry is admitted in the east to be most
advantageously situated with respect to labor
and climate as well as proximity to raw
terial. 1t is conceded in the textile world that
the greatest development hereafter will be in
the southern field of that industry
In like manner, eastern capital interested
in iron and steel senses the advantages of
the south, and particularly Of northern Ala
bama as a section that must be considered in
the future of the metal industry. This ac-
counts for the growing tendency Of eastern
capital to merge Alabama furnace and mining
properties In that quest the men at the head
of the various plans, from time to time worked
on, have become appraised Of the real value Of
these southern properties and have been brought
to realize that, If they to be acquired, it
is not to be on shoe string of securities to
be issued, but that real money must pass hands
based ON actual as well potential values.
The roominess of the south, the growing
demands of the south for mine and mill prod
ucts, the certainty of the south's development
along all lines, coupled with a reliable and
steady supply of common labor, assuring un-
interrupted operations and the strategic situa-
ton for exports, compel attention of capital
looking for stability of investment
The adoption of the seaport amendment
virtually completes the potential development
of the Birmingham district. The basic fact
of raw materials proximity afforded the start.
Then the ores and Goals were successfully
proved to be of merit. Alabama pig iron fol-
lowed by winning its way into foundry prac-
tice over the nation, having quality of due
tility that makes it necessary in many lines Of
foundry production. Next the iron was proved
unusually suitable for conversion into basic
STEEL which is more and more replacing steel
made under the Bessemer process. There fol-
lowed rail mills and wire-drawing mills and,
in the past few years Birmingham has de-
veloped fabricating steel industry which
builds bridges hotels, office structures and
large business plants throughout the south
east.
The by-product coke oven came early, but
its greatest development is comparatively mod
ern, the largest additions to that industry hav-
ing been made since the World war. Additions
La;x IL - rraI
by-products has been achieved. In the past 10
years Alabama has developed substantial
water power supply and it is being doubled at
this time, and later it will be trebled Electric
fluid and by-product gas are operating indus
tries in manner far superior to results from
raw coal.
Next to the final touch was the opening of
the Warrior river to navigation from Mobile
to the heart Of the mineral district Of Alabama
In this recent car shortage the waterway has
been given capacity tonnage and has enabled
the operation of more than one industry stu
ated on or near its banks when dependence on
cars would have shut them down.
The seaport amendment completes the
scheme for transportation which required only
the element of a properly equipped port for its
rounding out. In its present state, even the
Port Of Mobile has served Alabama well. Biz
mingham owes to that port the export trade
which kept plants going at 80 per cent here
in 1921 when other steel centers were at 25
per cent, and Birminghams best interest coun-
sells the use of her own seaport.
Birmingham's strategic situation for dis
tribution of her products in the southeast is
strong. Such industries as those of cement,
brick, hollow tile, cast-iron pipe, pig iron and
wire-mill products, stoves, radiators, rails,
steel cars, welded steel products and fabri-
Gated steel have markets co-extensive with the
southeast, formed by low freight rates that are
incapable of successful invasion to any large
extent by eastern competitors. What is true
of these larger industries is also true OF d.
versifed industries that have ranged them
selves about the basic ones.
The greatest of markets is the world. That
is what Mobile will afford Alabamians at the
lowest cost of reaching that market. The
east is appreciatve of the inducements to in
vest in this section and that accounts for the
continuous effort to purchase Alabama prop
critics. Birmingham is fully conscious that her
tonnage is yet small as compared with that of
Pittsburg, but the groundwork here has been
laid solidly, there is room for profitable in
yestment and The Age-Herald believes that
the opportunities for investment in this district
are unequaled and that those with capital to
invest are fully aware of the fact and are al
ready acting accordingly.