The Birmingham age-herald., 1908-10-04

does not attempt to conceal his opinion that the return of prosperity will be greatly accelerated by the election of Taft.
 In this connection it may mentioned that a report is rife in Wall street that at it's last meeting in October the direc- tors of the Steel Corporation will increase the dividend on the common stock from per cent per annum to per cent per annum This report comes from sources which carry weight and 1t has not yet met with official denial. Such increase is not warranted by existing trade condi- tions and will be construed by un- friendly people as a s5,O00,o00 bet by the Steel Corporation management on the election.
 The 1 per cent dividend increase would call for an additional outlay of that amount out of it's earnings or surplus. Such rise in the dividend rate would be an almost startling departure from the
 conservative methods which have here tofore governed the great corporation and would be almost certain to invite harsh est criticism The management strenu-
 ously resisted all attempts to force an increase in dividends when earnings were at the rate of s165 100000 year. There is an apparent glaring inconsistency in the proposition to make the raise now, when earnings are at the rate of about s90,
 900 a year. or hardly more than enough to pay fixed charges and allow for req sonable depreciation.
 They are having all sorts of fun these days over MT. Harrmans stiff back.
 Comment on that vertebral peculiarity had been remarked many times before. but it had never been supposed that the services of surgeon would be neces-
 sary. MT. Hartman has been afflicted
 with a stiff back for the last 15 or 20
 years It has enabled him time and again to stand up under loads that would
 have crushed the ordinary man. Seri-
 ously MT. Harrmans ailment, from a,
 physical standpoint, is not threatening
 to his health. His real ailment is a bad stomach.
 A feature of the times is the heavy and increasing withdrawal of funds from sav- ings banks. The withdrawals in the New York banks alone are at the rate of nearly half a million dollars a day in excess of deposits. Savings banks ,depos- | it's are so large however, in the aggre- | gate that they can stand a drain three l or four times as great for a year or two
 without anywhere near approaching ex- | haustion. At last accounts the S700, GOO l depositors had with the savings banks
 $3, ,Gs0 O0O.O00 an average of a little less 1 than $430 per capita.
 l Statistics of our international trade I show that in the first seven months of I the calendar year imports from Europe l fell off $154, 100000. compared with the corresponding seven months Of 1907, while | export figures showed reduction of only | s44O00,OOO. It is in the power of the | American population to cut down on its | expenditures for luxuries whenever times I l.. kz II R<x | our foreign customers to make important l reductions in their purchases of Ameri- l can food stuffs. cotton, oil. lumber and l other essentials of life. Here Is where | the United States has the bulge on the | rest of the world. It is the great pro- | wider for Eurote and storehouse upor 1 which every consuming country in the l world has to draw for necessary supply. l Railroads complain that the bulk of the increased tonnage is confined to the movement of crops. and that there is nc