Evening star. [volume] (Washington, D.C.) 1854-1972, 1909-11-14

the Steel Corporation. whose Meet OF Ia
ships average 1000 tons capacity each.
the cost OF transportation was not above
20 cents on the average. On the largest
craft OF 1900 tons the cost did not ex-
coed Is cents. The average time OF load
ing was I hour and 10 minutes: Of ur-
loading. IL hours and 20 minutes. The
distance from Duluth TO some OF the lower
ports is about 1000 miles. and the round
trip. including loading and unloading. Is
often made In seven days. The cheapest
transportation In the world Is on the
fresh water lakes. In no other part of
the world Is the handling OF freight car
ried on with as great efficiency.
Against the attack of the GOmpers con-
vention, the management OF the steel Cor
poration presents its record OF Dement'S
them a chance to buy stock at low figures
and participate I'm the profits. IL SHOWS
that since 1908 II has sold to G'.OOo en-
ployes 1913 900 shares Of preferred STOCK
which there is profit at current quota
tions totaling $S.545.OOO. The corporation
now has g. 600 shareholders of record In
America and 1900 foreigners. making IN
all 10000 shareholders. The New fcrk
Central railroad has also entered the
ranks Of implacable foes of organized Ia
Dor. II has adopted a pension scheme
under the operation Of which employees OF
long service will be retired after reaching
a certain age and will receive enough 10
live on, the amounts depending on con-
tinuous time Of service. Central employees
whose pensions depend on sticking 10
their jobs. will not be good material Tor
tho walking delegate to work on. Ma
tional Biscuit is another one Of those
deadly enemies of labor which has LOT
several years let its workingmen IN on
a proflt-sharing arrangement. Old age
pensions and profit-sharing are likely TO
prove the undoing OF trades union tyran-
ny. They make for industrial peace in
every direction.
Change in Car Wheels.
A great revolution is going on in the
construction and use of car wheels. The
old cast iron wheel which has been in
use on freight cars from the beginning
is making way for the rolled and forged
steel car wheel. The cast iron article is
found to be unequal to the carrying OF
heavy freight cars on rigid tracks. With
the steel wheel IL following the building
Of 10000 pound freight cars. less than
"a generation ago a 10000 pound car was
the steel for the cast iron wheel is go
ing on at the rate OF about 10 per cent
per annum.
Latest statistics show that copper is
being produced in the United Uni ted States at
year against about 1000 100000 pounds
two years ago. Consumption is increas-
ing also at q prodigious rate. but 1t
seems not quite equal to the increased
speed Of production. Hence the need of
a combination among producers to keep
down the output
The reaction in the stock market from
the high point in early october to the
low point this week In railroad stocks
has been less than ~ points on an aver
age The loss in industrials Is not more
than half that.
Trust companies have about 500. ZOO. 900
tied I'D In reserves. Under tho old order
Of things they could have loaned out the
biggest part Of this reserve. They may
not be quite so gay as formerly, but
they are very much safer, and the re-
strictions under which they now operate
conduce to a feeling Of security In the
general market. which more than COM
pensates for the reduced volume of loan
able funds. w. G. NICHOLAS.