Newspaper Page Text
Ifl (40) ,;
Survey c
SOLTHERN BANKING GROWTH.
More than $10,000,000 w38 added to
the hanking capital of ten Southern
States by 303 new institutions formed
during 1912, according to figures compiled
by the Southern Banker. Reports
from State banking departments and
the Comptroller of the Currency at
Washington show that during the year
forty-eight banks were liquidated,
which, including consolidations and
failures, wiped out S3,635,000 hanking
capital, and four banks reduced capital
for an additional loss of $2S7,500. This
was partially offset by an increase in
the capital of twenty-eight existing institutions,
making the net gain for the
year $14,905,600. The distribution of
new banks and capital by States was as
follows:
No. New
State. Banks. Capital.
Alabama 21 $ 468,200
Florida, 46 2,503,000
Georgia 54 2,640,000
Kentucky 14 500.000
Louisiana 1G 850,000
Mississippi 8 193,650
North Carolina, ... 25 965,250
South Carolina, ... 46 1,114,000
Tennessee 46 3,440,000
Virginia 27 3,245,000
"The past year, as compared with
1911, showed a decided improvement in
the strength and character of the new
banking institutions," says the Southern
Banker, "due to improved banking
laws and more effective supervision."
During the past year eighteen State
banks In the South passed into the
national system without change of
capital stock.
BIG OIL SUIT.
One billion dollars' worth of Call
fornla oll-bearlng lands, It was said
probably would eventually te Involved
ln tho government's recov-jj lltlgat on
vl Ich wiia the filing of ilio $250,GC 5.COO
actio i In equity against the Southcm
Pac'flc Railway and Its subsidiary
corporation* The Standi ii* Oil Cc n
pany, through Its subsldarles, is expected
by Fodern! ofllcers fii.ally to be
Involved, as well as the McKcnzle-Msnr
Interests, the Rritlsh Columbia OH
ft/ndlcate, which Is said to Le also Inrested
extensively dn California
Three or more years probably will
eTapse before It Is determined whethci
the Southern Pacific and other Interest!
wrongfully obtained the mineral lands
specified In tho action. The suit already
Involves the largest amount evei
sought In an equity action in the history
of the United States. The presen'
suit was prepared by B. D. Townsend
and T. J. Butler, special assistants tc
Attorney-General Wickersham.
SOUTHERN E>TERPRISE.
The more prominent new industries
in the South as reported in the "Manu
racturers necora or last weeK are:
Tho Southwestern Steel Development
Co., St. Louis, is being organized for
developments to include establishing
Industrial city on Houston ship channel
near Houston. Texas, constructing
Iron and steel plants, developing iron
ore deposits in northeast Texas, developing
10,000 acres coal tract on Warrior
River in Alabama, etc. Morgan
Engineering Co, Memphis, Tenn., submitted
preliminary reports or complete
aiiPtrAn fA* ^rolnnPb nf maro than K1A _
000 acres of lands In Arkansas, Louisiana.
Mississippi, Missouri and Tennessee,
involving estimated expenditure of
more than $4,000,000.- Jacksonville
and St. Augustine Tubllc Service Corporation,
St Augustine, Fla., will incorporate
with capital stock of $2,000,000,
THE PRESBYTERIj
>/ Curren
to build plant fo>- light, power, etc..
proposes to manufacture by-proJncts
from the use of yellow pine as fuel?
Williams & McKelthan Lumber Co.
Lynchburg, Va., incorporated with
capital stock of $360,000?Delta Slate
Corporation, Washington. D. C., lnc:or-r
poratcd with capital stock of $250,000?
Port St. Joe Dock ind Terminal Railway
Co., Port St. Joe, Fla., incorporated
with capital stock cf .*1,01*0,000, to take
over and extend doc\s jnd wharve3.?
Tennessee Cellulose anu Manufacturing
Co., Memphis, Tena., organized w'/.n
?500,000 capital sto:k to iinstruct plant
for manufacturing Kraft book, magazine
and printing pr.pcr.?E. L Galther,
Mocksvllle. X. C., and associates plan
organization of $300,000 company to
build cotton mill.?West Virginia Gascoloil
Co., Huntington, W. Va.. incorporated
with capital stock of $200,000;
will erect coal tipple and develop 700
acres of land adjoining Griffith oil
fields, POO acres of which is underlaid
with nine-fcot workable coal.?During
1012 additions to the textile equipment
/*# ? ? ?
vi me oLrui.ii uiuiuuuL-ea in uie .Manufacturers'
Record, Included 628,252
spindles and 11,221 looms, representing
an Investment of about $15,700,000. Of
the total, 549,824 spindles and 10.62S
looms represent additions to plants that
have been successfully operated for
some years.
RiriWOXR COLLEGE.
Contractts aggregating $225,000 will
be place! early in ,fi.nuary for the construction
of the administration buildIns.
the science bnlldlne. and a r?
fectory for the new "Richmond College,
plant at Westhampton. The cost of the
refectorv will be $25,000, leaving $200,000
to he divided evenly between the
' other buildings. When work on the
three Is started, the total value of the
' buildings under construction for the
college will reach $650,000. The administration
building: and the science building
will be three stories high, and will
be constructed of brick with trimmings
of concrete and stone. The refectory
will be of the same material. The gens
eral architectural lines will be colle,
elate-gothlc, In keeping with the design
I for the buildings already under way.
The $225,000 building for the woman's
vunrgr ?" mc wKsiern sine or cne inne,
I 1b nenrlng completion. The two dor
mitories for which contracts were let
i late in the fall, have reached the height
j of one Btory, and the Btadium is ap.
proaching the final stage of work. The
* two dormitories are costing about $100,
000 each, and the stadium $30,000. As
r soon as the contracts for the admlnlsI
tratlon and science buildings are out
> of the way, the matter of erecting a
chapel and a central heating and power
plant will be taken up. It is thought
that the contracts for those structures
will be let early In the spring.
COTTON MILL EXTENSION.
President Flnloy, of the Southern
Railway Company, commenting upon
the record of cotton mill construction
during the calendar year 1912, said:
"The Southeastern States led all
other sections of the country in cotton
mil! development In 1912. Ther#?
37 new mills built In the United States
during the year. Of these 20 were In
the Southeastern States. Out of 533,100
new spindles 427,000, or 80 per cent,
were in the southeastern mills, and out
of 9,774 new looms 6,450, or 66 per
cent, were In southeastern mills.
These figures refer only to new mills
and take no account of the large additions
made during the year to existing
plants by which the manufacturing capacity
of the section was largely in
& N OP THE SOUTH
it Events
creased. The aggregate increase has
Deen so great as practically to Insure
the maintenance of the record made by
the cotton-producing States in the year
ended August 31, 1912, when the mills
of the South consumed more cotton
than those of all other sections of the
United States."
RUSSIAN TREATY EXPIRES.
After 80 years, the commercial treaty
between the United States and Russia
terminated December 31, and the relations
of the two countries will rest
solely on the principles of international
law. While the abrogation of the treaty
leaves this country at the mercy of
Russia's excessive tariff duties?about
25 per cent, higher than the rate under
the abrogated agreement?It is tacitly
admitted that there will be no tariff contest
and until a sub-treaty is made, both
countries will adhere to the letter of
(he 1812 agreement. State department
officials have expressed the belief that
the maximum und minimum provision
of the Payne-Aldrloh tariff law, which
gives the United States a weapon
against her. was largely responsible for
Russia's friendly overtures toward the
fulfilment of another treatv. Amerlmn
Interests In Russia are valued at $225,000,000,
and there are about 400 of her
citizens residing there?far less thar.
the number of Russians In this country.
The bureau statistics estimates that
this country sells to Russia each year
about $250,000,000 worth of manufactured
products, or about two-thirds
more than Russia sells to this country.
Because of the difference In the volume
of marketable products of each country,
however, experts declare that Russia's
loss through a tariff contest woultf
be as great or greater than that of the
lTTi5fe/1 too
WEALTH IN MINERALS.
Mr. George Otis Smith, director of the
United States Geological Survey, has
furnished valuable statistics as to mineral
deposits and production within the
boundaries of the republic. As stated by
Mr. Smith the twelve most Important
minerals in the order of the value of
annual output are coal. Iron, clay products,
copper, petroleum, gold, stone,
uaiuiai rub, cement, ieaa, Silver and
zinc. The supply of all these minerals
is abundant and of many of them it is
Inexhaustible. Of nearly equal Importance
with the factor of abundance of
ihese mineral resources is that of distribution.
In the first place, the widespread
distribution of the raw materal
makes possible an industrial nation
in which every state has some
share in the mineral production. Only
four states had a mineral output last
year valued at less than $1,000,000, and
10 states had a production valued at
over $50,000,000 each. Again, no state
or section appears to have a monopoly
of the mineral Indnstrv WhllA Ponn.
sylvanla, with Its total mineral product
more than one-fourth that of the whole
country, leads in coal, cement and stone
by large margins; another state, Minnesota,
leads in Iron ore; another, Arizona.
In copper; another, Ohio, In clay
products; California In petrolenm; California
in gold; Missouri In both lead
and zinc, and Nevada In sliver. Furthermore,
the centers of Droductlon are
ever shifting. For Instance, up to 1894
Pennsylvania was the leading state In
MAMMOfHBL
S3. L. (layer, Wallbnrir. Dav
f from us that dreax-d ?78 pounds,
" pounds, or you can let them grow
S of this stork. Prtro reduced. Klj
/ JOHN A. YOUNG * SONS,
>
[January 15, 1913
the production of petroleum. In 1895 it
was succeeded by Ohio. Ohio grave way
to California in 1903. California gave
way to Oklahoma in 1907 and resumed
premiership in 1909, retaining It since
that time. Both (Illinois and Oklahoma
exceeded the production of any of the
eastern states in 1907 and have continued
to do so. For many years up to
1906 Montana was the prlcipal producer
of copper. In 1907 It gave way to Arizona,
and In 1909 Arizona gave place to
Montane. In 1910 and 1911 Arizona
again held first place. In 1906 Idaho
was the chief producer of lead. It gave
way to Missouri In 1907, and the latter
state now contributes 45 per cent, of
the country's total. Nevada, in the glory
days of the Comstock Jode, from 1973
to 1X78, was the greatest silver producer
In the world. When the Comstock declined.
In the latter part of the last
century, Nevada gave way as a silver
producer, first to Colorado, and then to
Montana, but became again the prln/ Inol
nrn/li.fK,. I- rnirt T>
. j/.vmuvvi ui QUVCI All JU1V. 1CII
years ago Colorado, the leading goldproducing
state, produced over 60 per
cent, more than California, then second
in rank. California's proportion has
hecn steadily Increasing for 10 years,
and In 1911 the largest production of
gold waB from that state.
There Is In the swiftest whe^l that
revolves upon Its axis a place in the
very center where there Is no movement
at all; and so In the busiest life
there may be a place where we dwell
alone with God in eternal stillness.
This Is the only way to know God.
"God is in his holy temple; let all the
earth keep silence before hlmk"
1VE WILL PAY YOU $120.00
iii *119111''iiit* iriimuus literature in your
community. Sixty days work. Experience
not required. Man or woman. Opportunity
for promotion. Snare time may
be used. luternntlonnl Itlble Prriw.
10SS Arch St.. Plilln.
planters Rational
fBanfc
RICHMOND, VA.
Capital $ 300.000.00
Surplus profits 1,450,000,00
Deposits 6,500,000.00
Your Business Solicited
I ?I
Rubber Patches "ve0""
and money
by using the "Crown Rubber Patch", the
greatest thing on earth to fix rubber
goods, hot water bottles, syringes, garden
hose, rubber boots, bicycle Inner
tubes, automobile Inner tubes, etc. Send
15 cents for sample containing two
patches worth 50c and Instructions how
to save money by mending your own
rubber goods, which are bound to spring
a leak. Satisfaction guaranteed, or
money refunded.
CnoWN Itt'IIIIKit hatch CO.,
Ilooin 78, l'nltersmi Itldg.
I) A 1 TON, OHIO.
HUHabAhT
Make $75 to $200 Monthly
NO EXPERIENCE NECESSARY
'I HATS what ; position with McOonnoa't li worth to Yd*
1 Most isbibla term* and best profits. *s hare position*
open now (or the right men who aresmbitioustoharea hnslearn
of their own. Mo metier where son lire, write for our plea to
start pen In business. Free Coarse In salesmanship worth
tnanp dollars to ens man. This edssrtisstnont will pros* the
foundation of poor fortune If poo answer It and take edrentage
of the opportnnitp It will biin* poo. Pur full particulars srrtta
to UsCeaaen A Os., Mlsssa Mine. Mention Ibis paper.
1
? ?!?% Irf Inn of Ihr South.
A pi/ 978 POUND HOG
tt U !\ Largest and BestHog on Earth
Idaon county, N.C., killed a pis that ho boo eh t
. Ka-lly ftttt'-ncri whi-n plan. Youoan drew them at 100
to 1*00 pound boss. W? have the original pure brred
[ht to iwalre Wi elu old tlt.00 earh. 115.00 par pair.
, - MPNIIOIIO, N. C.
/ 7