Evening star. [volume] (Washington, D.C.) 1854-1972, 1909-11-21

American sugar trust, an attempt 10 be-
ing made to throw the blame Of the
frauds on a dead man. Henry O. Have
meyer. for many years autocrat OF the
big refining company. While loudly and
ostentatiously regretting that the finger
Of suspicion should point TO the Have
meyer grave. the big and little fellows
cuiiarities Of the deceased "a show that
frauds and corruption on the scale that
has been proved against the company
would not have been carried on without
his knowledge and announcement.
piece Of business from any angle you
wish to view It. The market effect Of
the recent disclosures has not been any
where near as decided as might have
distributed. and the belief prevails that
the honest earnings Of the corporation
will insure q continuance Of dividends
indefinitely. The trust has q splendid
manufacturing and selling organization,
and 10 practical monopoly
Schemes for Huge Financing.
In the shadow Of schemes for huge
financing by railroad systems, the PROPOSE.
ton by the Big Four to put out $780,
100000 bond issue almost escaped atten-
ton. The Missouri Pacific 10 launching
plan for $17B,Oo0.00O in bonds. the At
lantic Coast Line 500, 900. 900. and the
New York Central and Pennsylvania are
candidates for new capital running up
road in the country but what Is or
will be having It's hand out for more
money. Fortunately it will not all be
wanted at once. The drag upon the
public purse will extend all through next
year and the year following Enormous
track. new rails and new cars. and 1t
must be provided before 1t can be ex
pended.
incidentally. it may be remarked that
ployed in the manner described. will buy
something of full par value. We are
in an era of greater honesty in the adj
ministration of railroad affairs than ever
less graft in construction and the pur-
chase OF supplies and equipment. The
banking interests, which have the ham
ding Of railroad securities. arc still hog
gish, but less 80 than in the past when
the urgent needs of railroads was great
er possibly than now. The days Of
pioneering are over In that field Of activ-
ity.
One explanation for the underlying
strength in stocks Of many Of the south
ern railroads is found in the official re-
ports of the movement Of cotton. Ac-
cording to the government figures, ex-
ports of cotton for October were record
breaking in value, amounting to nearly
$S9.COOO0O. which is better by $1,000 900
than that of any previous month. EX-
ports Of cotton for the first ten months
Of, the year. s32S, OOO,O 900. represents i'm
mense tonnage, not only in the staple it.
self, but in collateral lines and in gen.
eraI commerce. The south is most GER
tainiy entering upon a period OF ex-
traordinary development and prosperity.
The southern stock to which attention
seems to be most definitely directed
at this time is Southern railway, which
is being industriously tipped for sub
stantial advance.
Considerable gold continues to dribble
out Of the country. 1t will not be MISS
ed, and the movement excites no COM
ment. 1t is merely. routine develop
ment in the adjustment Of the delicate
machinery of international exchange.
The worlds production of gold for the
calendar year 1909. will approximate
$3.50 600, 600. W. G. NICHOLAS.