The Birmingham age-herald., 1910-11-06
MARKED CHANGE
 OF ATTITUDE Railroads Will Abandon Politi- cal Policies
CHANGE OF HEART
Railroads Claim That They Expect Wholesome Concessions in Freight Rates From Interstate Com
 merce Commission
By PRESTON c. ADAMS

our captains of industry towards the
 public has been commented on in these
 letters more than once. Evidences of
 this change of heart are constantly
 cropping out For instance, President
 Mellen of the Boston and Maine Rail
 road company, which with the New
 York. New Haven and Hartford, of
 which Mr Mellen also Is president, has
 been credited with practically running
 the politics of New England announces
 that hereafter his roads are out of pol
 itics
 l Corporations bent upon treating the
 public fairly are painfully learning that
 they were leaning on broken reeds when
 they depended upon corruptible politi-
 clans.
 I Under polite names practices have been | in vogue in many parts of the country
 which really amounted to blackmail, and | 1t is notorious that to give blackmailer
 dollar and he will want hundred.
 Various railroads have spent enormous
 sums to "accelerate' legislative senti-
 ment to use the beautiful euphemism 1 of a New York traction gentleman. But railroads and other corporations have | found that for every bill they managed | to kill a dozen came to life. Tne whole | business became impossible. And now,
 through necessity, perhaps. as much as
 through virtue, new and better policy is being adopted.
 Corporations hereafter mean to place
 their affairs fairly and sauarely in front
 of the public and appeal to them for protection from rapacious politicians.
 Relieved of the free-pass nuisance of the
 canker of rebates and now of yellow dog contributions, the railroads may be
 able to do better by both shippers and
 stockholders Blood-money has proved a poor investment. Honesty may once | again prove not a bad policy.
 | The railroads are not in any hurry to
 place large orders for steel and equip
 ment Nor are they making special eff
 forts to raise new capital at this june lture. They are content to go along as quietly as possible, pending the Inter state Commerce Commissions decisions
 on the applications to advance freight charges. Moderate, but not wholesale concessions are expected,
 1 Thereafter, on the better sentiment
 such concessions are counted upon to
 create, applications for new loans will be
 issued, and if investors supply the need
 ed funds. contracts will be placed in
 large volumes. The huge crops cannot
 be transported without wearing out rails cars. engines, etc., and, in order to cope
 with this traffic facilities must be kept in order. This will mean generous amount of business for the Steel Cor
 poration, the equipment companies and other organizations dependent largely upon the purchases of the railroads note In recent dispatches that the New England cotton mill men, convinced | I11 fsnf much cheaper than it Is today, have ad-
 iusted their business to conditions, and are working practically on full time. It is estimated by mill authorities that ap- proximately 95 per cent of the total snindles of the United States are again producing.
 1 The most encouraging feature of the
 situation in the advancing goods market. After several months. during which the mills were unable to get sufficiently
 high prices for their product to guaran-
 tee a new dollar for an old one, goods have advanced to level at least approx imately corresponding to 131a cent cot | ton
 | Mills recently have stocked up rather heavily with cotton. Some, indeed. have taken on as much as eight months SUD- ply. which would carry them over to June next.
 | The English mills also are buying cot
 ton The exports to England since Sep temberN1 have been unusually heavy
 The continent, however, seems to be holding off the exports to European countries outside of England being away
 below last seasons figures. Stocks there are light and the continental spinners will have to get in the game soon- The early moving cotton this year has
 been of exceptionally good character. It has been just the sort of cotton England wants. Some English cotton men have
 written that the character of the cotton is so good that they cannot believe the crop Is short one, because they do not understand how conditions which could
 produce such excellent cotton could fail to produce a large crop. There are many things England does not under stand about cotton-but that is another story.
 There are many things England does
 not understand about cotton, and 1t has realized that the cotton that has been
 moving so far this year Is very good
 stuff.
 It can be said with truth that at the
 beginning of this season Great Britain
 had very little cotton. It was in a. worse shape in this respect. perhaps, than was the continent of Europe.
 A grimly amusing incident which
 shows how easily Wall street Is fright eped occurred when the late David B.
 Hill died.
 The word was passed around the board
 room of the stock exchange shortly after
 the opening that Hill is dead'' There
 upon several operators jumped to the CT
 roneous conclusion that James J. Hill. and not David B. Hil was the deceased
 person referred to. They therefore lost no time in starting drive against Great Northern preferred, which carried it's price down 1H points and less severe attack on Northern Pacific. Both stocks recovered the losses thus sustained, however, as soon as the mistake was un- derstood and corrected.
 In local railroad circles and especially among men identified with the Harri- man lines, the Chicago story that R. $. !
 Lovett will be made president of the H. Illinois Central when J. T. Harahan re- tires next January, on account of age, is received with doubt.
 As the choice of the late E. H. Harri- man for his successor. 1t is declared that so long as Mrs Hartman lives there is | no Likelihood that any change will occur in the present state of Jndge Lovetts of f1cial relations The most logical selec- ton for the Illinois Central presidency lis !. l.. Park. vice president in charge or operation. who is really the active - er,tr mud fr1-1