The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1902-11-22
The Week in Business.

Four eastern railroads came into line
during the week, proclaiming their SYM
pathy with the movement towards a gen.
era1 advance in wages, thereby follow
ing the lead of the Pennsylvania road in
lthe week previous. Two roads actually
made advances, and two signif1ed their
willingness to revise the wage scale and
grant increases after a short time The
disposition spread beyond the railroads
and several large Industrial companies
followed this plan of anticipating the de-
mands of labor by voluntary advances.
In all very close to 100000 men have
found themselves thus benefited within
a fortnight This last advance is impor-
tant in so far as it increases the pur-
chasing power Of these men and enables
them to save more or to raise the stand
ard Of living, but it is vastly more i'm
portant if. as would appear, it means
the extension of a more liberal policy to-
wards labor through the entire industrial
field
The business world has viewed this ex-
hibition of amity between employer and
ernploye with great pleasure Not only
does 1t preclude the probability Of con-
troversies ending in disastrous strikes,
but it means the greater sharing of the
people in the prosperity of the country.
The pessimists have asserted that even
the fact that any willing man may now
obtain employment and usually at better
remuneration than for years. is offset by
the increased cost of living, and during
the recent campaign the administra-
ton demagogue has told the people that
we are having prosperity only for the
rich. That this is false is patent to any
thinking man, and the events Of the past
week but serve to prove that the working
people are sharing and will continue to
share the advantages of period of
progress and development In just one
corner Of the country the new tendency
strikes an unresponsive chord. Wall
street, already blue over the heavy de-
lclines in stocks, sees this departure only
: rs creative of a new burden to be borne
by holders of securities. The importance
of a revision of the railway wage scale
may be judged from the fact that 60 Der
cent fall the money paid out for expense
3pf railway operation goes in the form
OF wages. Last year the men employed
by the railroads of the United States
drew about O,000, 900 as COMPENSATION
for services rendered. Supposing this
more liberal sentiment On, the part of
railway management towards the en-
'ployes to spread, until a uniform advance
OF 10 per cent on all roads is effected.
this would mean an increase OF per
cent expense of operation and ia CORE
spending decrease I'm net. earnings. I'M
less some means Of increasing revenue
were found as an offset. An advance in
freight rates would accomplish this, and
9lt is q striking coincidence that within
ethe week traffic men representing west
ern roads and eastern trunk lines were
IN conference for the purpose of agreeing
upon a IA te of advance In the tariff on
eastbound grain and flour. But there Is
nothing so. far to indicate that the move
ment for an advance in rates had its
origin with the roads granting the adj
vances in wages. ST. +. ~..\
The congestion Of freight at princi-
~ pal industrial points throughout the
country has reached a stage more serious
6 than ever before. A year ago at this time
there was car famine, and loud com.
plants were heard Of the quantities O,
merchandise piled at commercial center.
awaiting opportunity for forwarding. The
roads meanwhile have Increased theil
X rolling stock by the addition of man,
I, thousands Of pieces but the expenditure
hac ia.
. capacity than to increase in motive power