The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1903-03-29

part of the west farmers are crowding
deliveries of grain. The season opens au-
spiciously for them, and as they have
plenty and look for another good year
they seem universally impressed to real
ize on part of the goods in stock This
impulse is Selling upon them at the same
time and In consequence railroads are
complaining of inability to supply the re-
quisite equipment to move the stuff that
is being forced upon them at every sta
ton and at every point.
This prodigious activity has resulted in
a drain upon the banking resources which
jars unpleasantly the stock market situa-
ton. Its effect Is to prolong the period
of high money and to emphasize the scare
ity of funds available for speculative pur-
poses.
Aside from the discomfort occasioned
by the demands upon the banks. legiti-
mate business conditions tend in every
way to advancement of values There
is surely nothing in the fact that the
country is tremendously prosperous in
every department of activity to induce
the selling of securities or to strengthen
the faith in lower prices.
The plans of the steel trust are more
far-reaching than the public conceives.
The controlling spirit of the great COR
poration is to branch out and monopolize
the iron and steel industry. The plans
embrace a monopoly of the production
of raw material and virtual monopoly
Of production. There are a number OF
strong independent concerns which are
in various stages of growth and devel-
opment, and these as they become forz
midable, are to be taken In. The gem
eral policy which has made the Standard
Oil the greatest corporation on earth as
well as the greatest monopoly is to be
followed as closely as trade conditions
and circumstances will permit. The ex-
ports of the steel trust claim to have
title to IS per cent of the iron ore de-
posits of the country and the gigantic
corporation is reaching out after more.
1t is barely possible that these ambitious
plans may never be carried out, but
those in command feel confident of sue
cess. 1t may that broad public policy
will intervene to prevent the schemes
OF aggrandizement. but this Is for the
future to determine.
These plans of expansion are not being
publicly advertised by the men who are
giving their time, energy and money to
the work of bringing about the CONSOLE
dation of the purchases in view. They
are too wise to invite criticism or slim
ulate adverse political agitation. They
have no desire to become the great Issue
in state or presidential campaigns and
seek retirement rather than display. They
are proceeding on what they believe to
be a grand plan for the greatest good
to the greatest number and as sound
business. proposition, not hostile to public
veal. They hope TO eventually command
the markets not only of the United
States but of the world, and to do so
they must arm themselves with the
weapons to compel commercial victory.
They are equipping themselves with re-
sources in every direction-raw material
without limit, mills and factories and
furnaces in which iron and steel pro-
ducts of every variety can be manufac-
tured at a minimum cost and cash in the
strong box sufficient to force the output
into every market on earth on terms to
overcome competition. From the very in
ception of the trust campaign has been
under way looking to a monopoly of the
markets in both hemispheres These
plans are in very advanced stage to-
day. When hard times come, II they
do. the steel trust will be found equipped
to scatter its surplus production to the
furthermost corners Of the world Ready
TO undersell the mills of Great Britain
and Europe right at their doors. They
expect TO be able to neutralze political
anita gonism at home by keeping every
establishment open and giving full en-
ployment to hundreds Of thousands of
men who would be idle or only on half
paw if old conditions prevailed and cut
throating would be INDUCED in between
rival manufacturers.
The one thing they expect to protect
themselves and the American working
man against Is production, and the
only way they can do that when the