The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1896-01-03
IN THE RAILWAY WORLD.
Predictions Of Railway Officials on
This Years Outlook.
NOT LIGHT FOR FIRST SIX MONTHS.
Indications Of Increased Track Laying,
With Trafiic Quiet for tho Present.
Dependent on the Crops.

financial panic of two years ago, railroad
affairs have gradually assumed their nor
nal conditions. although capital has beer
somewhat slow In advancing railroad
building. While the amount of new track
laiG for the past twelve months aggre-
gated only about $500 miles. the lowest
point In twenty years. Texas headed the
list with 224 miles of new railroad to her
credit. While the past year has not been
a very prosperous one with the Texas
roads, owing to the short cotton crop
Tn the first place., and then again the
numerous rate wars and continual disturb
ance of tariffs, railroad construction has
progressed steadily and the prospects for
continuance OF the work In this line
for the coming year are very favorable.
Already nearly 600 miles OF new track
anI ne sas ma og9 niles so
railway will be Increased nearly another
thousand before the expiration of the
the outlook for freight and passenger
traffic during the first six months OF lsD6
Is anything but encouraging, Yet It must
pend largely the revenue eo Of the railroads
and 1t is yet too early to advance a pre-
dtction of the results of this years plant
OF the country be good. the summer and
fall business OF the roads will show a
corresponding Increase and the earnings
loom up on the proper side of the ledger
A representative of The Post called upon
a few of the local railway officials yes
terday In quest Of an expression from
each as to his opinion of the outlook for
the present year. The interviews obtained
were substantially as follows:
Mr.. J. NJ. Lee, superintendent and en-
gineer of the Houston and Texas Central:
1t Is hard to state with any degree of
accuracy at this early date just what the
present year will bring. The political
status of the State at the present time
was not conducive TO the promotion of ex-
tensive railroad building. The manifest
hostility of the last legislature against
foreign capital invested in Texas had
tendency to materially check the build
ing of new railroads and the extension of
old lines in the State. However. con-
sdering the condition of affairs today,
believe we have a bright year before
us. The farmers are better Oft today than
they were this time last year notwith-
Standing the short cotton crop of the
good and the price of the feecy article
enabled the farmer to carr. a larger sur
Plus with less expense and less labor than
former crops. Last years crop was not
only a heavy one that flooded the market
ana Kept the price down to bottom fig
ufes, but IT was ~ slow crop and required
IL
ness seems 20 be Frightening up at least
IN our line. and already our lumber traffic
mas SHOWN a marked increase. The lum-
Der traffic is true forerunner of revival
Of trade, and increased shipments In this
line clearly mark improved conditions,
new buildings and busy season for me-
TWO weeks ago In financial centers has
subsidized ana reaction set in, restoring
oonfldence, and times are now better. 1t
clearly demonstrated, however. that the
United States were well able 10 take care
OF ms country and our finance, and thut
there Is more than enough gold in this
bond issue that our government may
choose to make; Why, take here In the
Sotton States alone, there is gold buried
asgregating many million dollars that the
United States might have by the issue
of small UNCONVENTIONAL bonds, bearing,
say, per cent interest Everybody that
can save dollar wants to put away gold.
Take; Tor Instance, at Waco, Brenham
one asks for at least half of the price
neney to be paid in gold. The disturb
between the United States and Great Brit
ain over the Venezuelan bounday question,
the Cuban war. etc, only affect the specu-
great to be seriously affected by any such
conditions. War between two such ma
tons as America ana England is very
Serious question. 1t would be cheaper for
either nation to buy thc whole Vene-
zuelan Republic outright and present 1T
70 the other than to 90 to war. The
United States demands it's rights, based
on liked principle embodied in the Mon
roe doctrine, and England viii certainly
concede the justice of this country's de-
niands and abide by the findings of the
commission. Coming back to the outlook
FOR the present year ~ the railroad world,
earnestly believe there are good pros
poets, especially In Texas. This State,
With It's illimitable resources and vast
ness for many more railroads. AS for
Houston, 1t Is without doubt the CONNER
cial and railroad center of the State and
the metropolis of the Southwest. predict
u TO outgrow, by large maJorities, any
city In Texas and Its location at the head
OF deep water navigation and natural adj
results from the settlement and improve
ment OF any and all parts of the gulf
seotion. Deep water at any of the several
points on the gulf coast must necessarily
rebound beneficially to the Magnolia City.
peep water at Houston, In the event of
US securement AT Galveston. is not
ponding of a sufficient sum of money to
widen Buffalo BAYOU. Houston has the
business, and every railroad entering the
State Is aware OF that fact. Roads build
ing In THIS direction VIII not have to be
coaAed 10 come to Houston. 1t Is as much,
II not more. to the welfare OF the roads TO
seek entrance hero as II Is to the city,
NEile. as ! mentioned before. II Is yet
somewhat early TO predict the results OF
tiis year Work among the railroauS,
trade conditions, the planting and har-
yesIins OF crops IN Texas. have "A great
deal to do with the business and earnings
OF the, railroads, but all things and the
general condition OF the country would
irdicate prosperous year.
l." j. Parks. assistant gere ral PASSENGER
agent. of the Southern Pacific: The out
look Is somewhat gloomy for passenger
traffic. The cotton crop this season was
SO small that the farmers have no money
to spend for travelling The moaey IN
CIRCULATION depends largely upon the re-
suits OF the crops. Until another good
crop has been harvested we must ex-
pect harder times this year than ever
before. The railroads that Themselves
circulate great deal of money in maxi
Ing improvements renewals. etc. evident
~ VIII not expend any large sums OF
money this year on accornt of the nnan-
cial stringency making it difficult to ob-
tain morey on their securities that Just
row. go begging in New York and the
East. II is very likely that our railroads
VIII cut down expenses to n lower point
than eyer before. or course | speal. nm
officially, as | am not engaged ia the
operating department and not posted as
10 details In Its management From
general observations my opinion is that
1896 will be hard year
q Nn u