Goldsboro semi-weekly argus., 1909-10-16
VAST RAILROAD NEEDS
Not Yet Prepared For Meet.
ina Demands of Busi-
ness Revival.
;,uu Il
Editor EdmOnds Estimates Ihat
Transportation Expenditures or
$1,000, 100000 Year Will
Re REQUIRED.
Be Required.

Be Required.
Richard Edmonds, editor OF tne
Manufacturers Record of Baltimore
while in New York this week, III al
interview with a reporter OF the NE"
York News Bureau, said:
Though general business through
out the country has not yet joined
ful1y in the remarkable activity pre-
vailing in iron and steel, rallfoaos
are already becoming congested win
traffic and many complaints OF scar
city of cars are heard in Alabama anu
West Virginia and other other iron
and coal centres.
I'VE are now producing iron at the
rate of nearly 3O,OOO,O00 tons a year
or over 5000, 900 tons above the rec
ord output of 1907. If other indus
tries were as active as iron and steer
land they must inevitably become so),
railroads would be as much over
whelmed with business as they were
when the railroad system OF the coun-
try practically collapsed in the sum-
mer and fall of 1907. Moreover, the
steel is as yet without the benefit Oh
heavy railroad purchases of materials
When railroad buying attalns the
heavy totals which their necessities
will force in the near future, the dan
ger to the country will be scramble
for iron and steel products, with the
possibility of runaway market
III
a speculative iron market as in wild
stock speculation. If prices go too
high consumption is checked, Dut
while consumption is absorbing such
a vast amount of iron as at present,
the iron trade must of necessity be
crowded at high pressure. What Will
nappen when all business revives it is
hard to say, but it is quite certain that
the outlook indicates a very great ex-
pansjon in every leading Industry TO
keep in touch with the remarkable eX-
ransion of iron and steel. The rail-
roads seem to be at last waking up TO
tie situation, but they have been so
slow in doing this that traffic is al
ready growing far more rapidly than
ahead of us is collapse in railroads
from inability to handle freight.
livery day is simply emphasizing the
fact that railroad expansion has not
kept up with the growth of the coun-
try, and that at least $4,000, ,O00,OOo TO
$6.uCU,0pJ coo would be required to
push railroad building and enlarglng
OF railroad operations to a point
where facilities for handling freight
would equal the demands OF the next
two or three years. Ii $l,OOO,OOo,ooo
a year for the next ten years could pc
expended upon railroad construction
the facilities at that time would not
equal the certainty of the demand.
Any legislative action that delays the
investment needed for abroad con-
struction simply intensifies the sltua-
ton and really makes all present rail-
roads a greater monopoly than ii rail-
road construction could be broadly
pushed in all directions.
''In connection with this marvellous
expansion in iron and steel, it is evil
dent that the great steel operators
are endeavoring to safeguard the fu-
t:Ire by the purchase or control by
lease of the sources of ore supplies
The announcement that the eBthlehen
Steel Corporation has secured one O
the large ore properties OF Norther1
Rev York follows very quickly aftel
the report that it has arranged 10
heavy investments in Texas, where
according to reports made by the San
Ia Fe Railroad to the State Railroad
Commission, contracts have peel
made for opening up ore propertie
with view to furnishing the Bethle
hem people 1,0OO,O0O tons of Texas or
year.
Similar efforts are being made i
many directions as to coking Goa
properties, as well as ore propertie:
showing that the far-seeing men of to
day are recognizing the tremendou
future through the ownership OF tn
raw materials for iron and steel mai
ing.
"It is hardly to be expected that th
rate of iron production which has PR
vailed during the last forty years WI
continue for the next ten, but II 1t dl
SO continue it would, as shown in
recent paper by Professor Porter
the University of Cincinnati, carl
p:g-iron production in 1920 to 85,Ool
900 tons. It is, however, entire
within reason to estimate that ire
production will double by 1920, al
give us at that time between SO, ,0O0,O
and 10000, 900 tons, which would me;
a. practical doubling of the enti
iron, coke and steel industries OF I