Birmingham age-herald., 1895-09-27
PRESIDENT BAXTER TALKS The TenneSSee'S Executive on the
 Situation. THOSE SHIPMENTS OF GOLD Should Worry Only Extremely Nervous. People Looks for Higher Prices for Pig Iron.
 Country All Right.
JOSE SHIPMENTS OF GOLD

President Nat Baxter of the Tennessee Coal, Iron and Railroad company arrived in the city yesterday from the metropolis and will remain several days looking over the many plants of the company.
 Yesterday afternoon he made a brief visit to Oxmoor. to look over the im- provements going on at the companys furnaces at that place. To an Age-Her- aid reporter last night he expressed him. self as we'll pleased with the work going on there and said when completed il would be one of the finest furnace plants in the country.
 MT. Baxter was in his usual pleasant humor and spoke freely. Referring to mohey matters he said: T have just re- turned from New York, where l spent three weeks. 1 heard and saw considera- ble; in fact, l think there is much un- necessary talk regarding
 The Monetary Question.
 The most important thing, if such 1t may be called, that has occurred recently was the gold shipment which took place week before last. 1 had a splendid op- portunity of getting the opinion of those recognized as being authority on such matters and without exception they agreed that the gold shipments would not retard the progress of the improvements that had set in, but with a freer move ment of cotton and wheat, which was about on, there would be an amount of bills offered against them that would re- duce the present rate of exchange to such an extent as to make it unprofitable to ship gold. Money is so abundant and easy in New York, and the rates of inter- est are so low that there is no demand for foreign money. The higher rate of in terest in the metropolis for money, which they believe will take place. will be quite as effective as a freer move ment of cotton and wheat.
 London Waiting.
 London has not as yet become, as it is expected she will become later, = heavy purchaser of American railway securi- ties, but they are waiting to be a little better assured that silver is dead and at rest. Once convinced of that it is be- lieved the moneyed men of that city will again, as formerly invest in American railway securities, and that will contrib ute much toward the stopping of gold shipments. However. in any event, this will close the present year with more gold than at the beginning of ft Last year this country produced by mining $35 900 of gold. The present rate of production justifies the expectation that it will be no less than $i5,000, ,000. Up to date this year we have shipped abroad about $23,00 900 of gold, so that the proba abilities are that, though we y metal this year. and even though we should have further shipments abroad, we shall have an income of the stock from $10,0O0,000 to $20000, 900, therefore, I do not think there is anything to be ap- prehended from present shipments except the temporary effect it will produce on extremely nervous persons.
 Few Words on Pig Iron. "As to pig iron, we are taking orders in large amounts and quite as fast as we cage to at the recent advance. The situation respecting iron is very strong one and will, l think continue, and we will have higher prices next year than this. My reason for making the asser- tion is that the present productive ca pacity is being consumed with but little aid from railroads. They will come into the market, I think, in the spring or early summer. Should they do so it will at least give an assurance of mainte- nance of the present prices and in all probability cause higher prices.
 The General Situation.
 As to the general situation, it is one of continued improvement in almost every line of business. The country has faced in exactly opposite direction from thing faced downward, and while the downward movement might have been checked for short time it could not be done permanently. Now, however, the trend of everything is toward improve ment and upward, and while there may be occasional set-backs they will be only temporary and of short duration, and the general trend will be in the direction of better prices and greater improvement. Bulls of the Situation.
 "So far as the Tennesse Coal, Iron and Railway company is concerned, l am pleased to say we are enjoying an era of prosperity and feel that we are bulls of the situation so far as pig iron is con- cerned."