Semi-weekly herald., 1908-10-19
TELEGRAPHIC NEWS


tleship fleet. under the command OF
Admiral Sperry. which left Manila FOR
Yokohama October 10. has been
sighted.
TOXIC. Oct. 15.-All Japan IL astir
In anticipation of the arrival OF the
American battieship fleet. Yokohama
and Toxic In particular are given over
to an enthusiastic preparation. The
decorations In these cities are so ex-
tcnsive and general as to be remark
able, not only In Japan, but In any
country OF the world that awaited a
naval call by fleet of another power
All Japanese newspapers of promt
nence are printing editorials In Eng
lish assuring American officers and
sailors OF hearty welcome by the
nation.
NEW YORK. Oct. 14.-Business men
who have been observing keenly the
economic developments of the last few
months, said today that the country.
one year after the financial stringency
In Wall street, was entering upon an
era that would eclipse the prosperity
o. the administrations of Mckinley
and Roosevelt a few striking facts
drove them to that prediction. De
spite the panic OF last fall practically
one-half billion dollars of securities
had been sold by railroads. industrial
and manufacturing concerns. and the
proceeds were being devoted to en-
largements OF plants and the building
OF more factories and railroads. In
September the total building expendi
ture throughout the country was NOSE
than sal 100000. which exceeded the
expenditures OF September year ago
by $4,000. 900. The harvesting OF crops.
valued at almost seven billion dollars,
and the wages paid to contractors and
laborers meant the pouring of millions
OF dollars OF savings into banks
throughout the country. Furthermore.
manufacturers were preparing for a
large output A report OF lne depart
ment of commerce and labor showed
that the imports for August exceeded
those OF any previous month this year
and were greater than those of the
preceding August. All these things
showed. experts said, tha, the manu-
featuring. mining and other interests
were lining up for year that prom
ised 10 increase the wealth OF the ma
ton enormously.
Business men said that they could
see no other trend TO the development
OF the resources of the country pro
vided the voters OF the country con.
unued the administration which had
made possible in the last twelve years
the tremendous Increase OF the ma
lions wealth That after the panic
which had shaken the confidence oi
bank depositors and OF business mer
who must necessarily transact much
business on credit factories. mer
chants and workmen should have had
such assurance about the future was
considered as a tribute TO the Repub
lean administration. Students of the
political and business conditions said
that. in view OF the history of the las:
the prosperity OF the country would in
crease provided William Il. Tafr was
elected president Only the election OF
William Jennings Bryan. they said
could give the country q shock that
would chill the optimism of business
men and Queneh the fires in the fur
naees of mills throughout the country
and put down the prices OF farmers
products.
A cursory review OF the manner In
which hnanciers, manufacturers and
business men generally pulled the
country through the panic of 1907 and
plunged anew into plans for the ere
alton OF more wealth and a continu
anee OF the prosperity of the country
under Republican administration
shows that the last year has been a
remarkable one. The Union Pacific
railroad early In the year issued $50.
100000 in bonds TO be devoted TO the
extension Of its lines and the makins
Of fmproymeuts. The Pennsylvanis
railroad issued $4,000. 900 in bonds tc
continue its Improvements. The New
York Central railroad got sSo, zoe. .0OC
to put into Improvements. The Cen
tral Pacific sold $ls.eeo. 900 worth o,
bonds and utilized the money in a
way that gave work to many men
There was the Tidewa,er company
with as issue Of $1,000. 600; the Chica
SO, Burlington & Quincy with $4,000.
Gee. and many other roads Gas com.
panies electric light. traction, indus.
trial and other companies issued bonds
tor Improvements amounting in all 10
half billion dollars. New comps,
nses. with capital amounting to many
million dollars, also were formed.
In July the effect Of thsi outlay of
new capital became apparent The
building trades began to show i'm
pruvement. and by September the