The times. [volume] (Richmond, Va.) 1890-1903, 1900-11-02
FRIDAY. NOVEMBER ., 1900.
Much Apo ABOUT NOTHING.


,,rnns Mr. join X. Gowen. president Of the
been denounced for saying in q public
speech TO a gathering Of railroad men
and steel workers that lie had let con-
trac, for 5000 steel ears. the construction
of which was contingent upon the cleo
ton of Mckinley, with the exception OF
l,tyD, work on which would be We'll under
way before election Mr.. Cowen explains
that these cars if constructed, are TO be
paid for out of the proceeds of securities
provided under the various plans OF the
Baltimore & Ohios reorganization Tor
such purposes. He points out that these
securities are necessarily tloated by bank
ers. and that If Bryan should be elected
and there should follow doubt and hesita-
ton in The financial markets of the world,
bankers would not take the securities at
the price which the managers OF the COM
l,anr regarded as proper. The company
would not be willing to sell its securities
at a reduced price and hence would not
sell them at all Moreover, he said that
in the event of Bryan's election he feared
that the business OF the railroad would
fall off to such an extent as that the extra
cars would not be needed.
1T is more than probable that Mr.. Cowen
made this statement for political effect.
but re have no idea that it was Intended
10 be a bluff as the Baltimore Sun and
Others have claimed. Mr. Cowen was
talking to men wha are interested in rail-
road work and the work of steel plants,
and we cannot see wherein was The I'M
nropriety in his telling them what he hon
estly believed would be The effect OF a
ti,anse in the Administrations This was
not ncccssariis reflection upon Mr.
Bryan. But everybody knows that If Mr.
Bryan should BE- elected there would be
doubt and hesitation. certainly until after
his Inauguration. until after his policy
should be made clear. No man can foresee
what would t,e the effect on the financial
world OF the election of free silver Presi-
dent, and If Mr.. Bryan should be elected
next Tuesday cautious would be slow
10 make new engagements.
II is a well known fact that Presi-
densial year is a bad year for business,
for the simple reason. as above stated.
that when there is uncertainty as to the
outcome of the election and the effect of
a change in The administration. prudent
business men keep close 10 the shore.
In 1896 the president of the Chesapeake
and Ohio Railway Company was de-
,,o,1necd, Just as Mr.. Cowen has been de-
nouncsd for saying that in the event of
Rryan.s election that company would be
unable 10 make its contemplated improve
a,cnts in tais city. Mr.. ingalls, explained.
Just as Mr.. Cowen has explained. that in
,rJc; 10 build his elevated tracks and new
ecpo. ii would be necessary 10 float Sc
carities, and tina: he could rot hope TO
feat these securities TO advantage, If the
gold standard Should be ovcftfrown But
MIR BRYAN was not elected and the gold
standard was not overthrow and uacsa-
peakc and Ohio Al ? per cent. bonds IN
creased gradually in price until they
reached Par. And SO The company found
- difficulty III negotiating lis securities
aad raising tile money. and the work IS
now we'll under way.
That Is ali ,hcrc IS in the Cowen state
r,,oat. and We see no sufficient reason for
Democrats 10 so into mysteries about il.
Nc do moi hsteye in bnidezing and Init
,niaation bai we car see nothing repre-
hensibie in a business mans making a
plain business statement 10 men employed
BY him. or to men employed by others. as
10 What, IN his opinion. will be the result
On the business world of The election of
Mr.. Bryan. a citizen of Richmond was in
this Office several days ago taking abou,
al, enterprise tina; he had in View. and hc
Incidentally remarked. as he looked ose,
the New York Journal and saw pre-.
dscsion in that paper that Bryan would
Is be elected. ihat Il the journal WAS RICH,
his enterprise Mould come q nausht. OF
course he had no thouEhtssaf making 9
political speec., TO the editor. and he would
have scen mortified beyond expression 81
his remarks aaad been printed. lie mean
simply 70 say that II there should be 1
chs ,1ee In the adrninistratio of publ,