The age-herald., 1899-11-14
". ?. PINCKARD
 TALKS OF BUSINESS
An Era of UnexampIed Prosper
 ity to All Classes.
BlRMINGHAM'S POSITION
Destined to Take Her Place Among the Great Cities of the Union-Full Dinner Fails and Hap-
 py Homes

W. P. Pinckard returned yesterday from New York. where he has been spending the past three weeks in the interest of great enterprises in the direction of the material development of the Birmingham district
 "Business is good in every direction,' Mir. Plnekard said "The whole of America is prosperous. and there is promise that this prosperity will go on increasing. And there is one somewhat anomalous feature about the business situation. The county at large was never so prosperous as now, but the speculative element in Wall street is greatly hampered by dear money. The cash sent into the interior to move the crops has not been returned to the New York banks quickly as in former years, and the speculators on the exchanges are consequently embarrassed because of a lack of cheap money. The fact is that the vol ume of business and the degree of pros perity in the country are so great that an extraordinary amount of money is required. Vast sums are locked up in cotton, wheat, corn and other products. Farmers are holding for higher prices, and they can af- ford to do so; they are not hard pushed now as they have been for so many years.
 Hopeful Situation
 'The sentiment in New York regarding the general business situation is something moro than hopeful-it is absolutely conf- dent. There is do doubtng, no questioning. Every sort of industry in the country is forging ahead at full speed, and nearly all factories have sold their products for months to come. The southern cotton mills, most of them, have contracted to sell their output for the next year on a basis of r to 19 sents a pound for cotton. and they are making a clear profit of cents q pound.
 'The southern pig iron furnaces have sold at most remunerative prices their en- tire output for about twelve months And this fact applies, though in less degree, to all industries Our export trade is larger than it eNer has been and is making won- delrful increases. The day I left New York it was given out that the Russian govern ment had placed orders for 600 American railroad locomotives and for some 6O,OOO tons of American steel rails for the Trans-Siber- ian railway. The New York Central rail- road has begun the expenditure of GOO
 
 road has placed one order for 100000 tons of steel rails And so the great story of busi- ness activity runs.
 An Era of Prosperity
 Men are making money now, from the farm hand to the millionaire. All the la borers of America have full dinner pails and homes of peace and plenty. The great mass of the people are leaving politics to the politicians.
 .'"There is this to be said for Birmingham, over and above all other cities or districts of the United tSates: The laborer, the clerk the carter, the merchant, the bank er all men in all occupations know just what to count on for year. To them pros perity is positively assured. No harm can come. The pig iron is all sold at big prices, the bar iron is all sold, the steel is all sold.
 "Carping cries about expansion, imperil- ism and the like are swallowed up in the roar of vastly expanding business. Ameri- ca is about to enter into chief possession of the worlds markets"