The Fairmont West Virginian. (Fairmont, W. Va.) 1904-1914, 1906-07-05
coNsJLss REPORT pEscRl 49,
ItaE COMMERCIAL
ZION REsp LING EsRotl
PRESIDENTS PoEIcIEs.

PRESIDENTS no PIES.
Washing tor. D! e une II.
the eve OF the othetally announced
triumphant return OF Ptesid snt Cas-
ltrosto Caracas. July s. the Depart
ment OF Commerce and Labor issues
d report from the United states Con-
sui at Ia Guayra giving an account OF
| the depressed conditions to which
venezuela has been reduced by the
IRestaurador's policy. This otticial
statement confirms the most alarm
ing reports from; private sources.
Consul Afotfat says:
'tEar duties in exports continue
provisions OF all kinds. even such
staples assrlce, beans, sailed fish, etc.,
forming the principal food articles
consumed by the laborlng classes
have advanced from 25 to- 100 per
cent. IN price, while at the same time
the opportunities for employment
are rapidly decreasing.
2 GOLD DISAPPEARS.
mo public works are being con-
structed or contemplated with the ex-
ception Of floating dock
which is being built at
Puerto Cabello. Since the an
nouncement of the contract organ
fling a government bank has been,
made public. gold has entirely dis
appeared from circulation, and even.
an exorbftant premium offered for 1t
fails to bring it forth from boarding,
which is the method generally re-
sorted to by those possessing it
"The cigarette trust recently form
ed has taken from many, who sought
through their manufacture ina small.
or local way to obtain livelihood,
their only means of earning G sup
mort. The Hamburg Line of steam
ers, which has regularly scheduled
two steamers monthly for Venezue-
Ian ports; has Withdrawn one steam
er. owing to the smallness OF the car,
goes obtainable. "A
GIVEN those Of the weather. class,
whose investments consist primarily
In Improved real estate, are feeling
the effects Of the commercial prostta-
ton. The cities give ample evidence
of this fact by the extraordinary NUM-
her OF vacant houses. Rents in con-
sequence are generally cut in half
in order to obtain satisfactory ten
ants.
BUSINESS MEN NOT VENTURING..
''The opportunity to keep in touch
with the foreign market for cocoa
and cofree, the principal articles ex-
ported. has been prevented through
the severance of direct cable COM
munication, which is of the utmost
Importance to those who must keep
informed as to market conditions in
order to ship to the best advantage.
The extended uncertainty as to the
adjustment Of foreign matters is re-
Estraining trade in other quarters and
compelling those who largely control
the financial situation, commission
and banking houses. to be very pru-
dent in commitments involving any
ventures beyond actual and present
requirements.
"The railroads and harbor corpora
tions with grave apprehension note
the decided falling of In earnings IN.
mistakable evidence Of the declining
conditions. Several Of the conces,
sfons recently granted have been
abandoned through misgivings as to
the future, and the options paid there
on forfeited. That underlying condi-
lions are prejudfctal to prosperity at
least for the present, is SO apparent
as to cause anxiety on the part OF all
commercial interests" \
Notwithstanding the dfreful results;
sPoi1lATIoN CONTINUES ON OLD
LINES.
Of the policy of monopolIzing for htm+
self and his friends all the Industries
and resources Of the country, the &C.
oulsittye operations Of the govern
ment ring continue to branch out in
ali directions. Exactly the same line
Of action followed in the case OF the
New York and Bermudez (Asphalt
Co. has now been adopted in the case
OF the Orinoco Corporation. This Is
a west Virginia company formed to
exploit, a concession granted by Pres
ident Blanco in 1888. The govern
ment is now preparing to bring a
suit in the High Federal Court for the
purpose OF annulling the property
in the American company
| The same judicial travesty played
| in the case Of the asphalt company
will doubtless follow. The "High