The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1910-05-08

age by the recent April blizzard in the
west and couth has been greatly overes-
timated. While 1t is admitted that the
fruit may have been wiped out In many
sections, is is not believed that irrepar-
able damage has been done to grain and
cotton, though these crops doubtless have
been cut down and hope of a bumper
cotton crop, which would relieve the
present shortage have disappeared 1t
is feared the losses caused by the blizzard
though not as great as at first es-
tifated. will be sufficient to have a bad
eject on business.
| Sir Edward Morris. X. c. NJ. -, pre-
rnfer for two years of Newfoundland, and
one of the most progressive officials ever
sent to that colony, stopped in New York
on this way to The Hague.
rs there any feeling in Newfoundland
over the fisheries question:" he wss
asked
No the people do not lay any blame
at the door of the people of the United
States, feeling that they are merely fol-
lowing the path marked by their gov
ernment. Now. what Newfoundland Is
soing to ask The Hague tribunal is to
give an Interpretation of the treaty, not
| according to our reading, but according
to the reading placed upon it by the Brit
ism government and officers of the crown
in England who made the treaty nearly
100 years ago
The deliberations will last from June
to July l and the tribunal will have
two months in which to consider and
rerder judgment
1T is a matter for congratulation that
two great countries like the United
States and England should be able 10
| submit to arbitration large questions such
as this. Fifty years ago, or even less
such a dispute probably would have re-
suited in war, but we are getting more
| sensible
| Sir Edward would like to see reciproc-
| ity between the United States and New
| fcundland and said that the treaties of
1890 and 1902 had been killed in the
| United States Senate through the in
| fluence of the Gloucester fisheries
| owners.
They thought fish coming from New
foundland might interfere with their
| trade he said. "They were mistaken
We never expected to sell in the same
markets. There are millions of people
in the United States today beyond the
reach of the Gloucester fishery trade
who never get a taste of a fresh cod
fisil who might have Goldfish every day
for four or five cents pound if we had
reciprocity e
Ec also referred to Newfoundland S
minerals and paper pulp for which it is
also looking for market in the United
States and said the feeling there was
for reciprocity on certain lines.
the Journal of Commerce recently
| printed communication signed a
'Southepor for Fair Play" and dated
New Orleans, which speaks right out in
meeting on the government investigation
of the cotton market. 1t says: THE
| action of the United States government
| in lending its assistance to a set of bear
| operators who have sold that which they
| do not possess. in order to make "a turn
at the farmers expense, is the most out
rageous action against the south one
| could imagine, and if persisted in will
surely be resented by that section, and,
| If | am not greatly mistaken, by all fair
minded men In this country
the government wishes to do any
investigating it had better begin in the
| bear camp. To the writer's positive
| knowledge the bears are now trying to
gee certain mills to consgn cotton to
| New York to be rendered on May con-
| tracts. explaining to them this would oe
| greatly TO their advantage, as it would
result in their being able to rebuy July
and August contracts at greatly reduced
prices. Neither is it anything new for
irrf9 rIa how coll o1a ut a4f,,
| ally borrow cotton for tender expecting
| 20 break the market by so doing and
| replace for less. Such methods were
pursued the last time southern bulls ell
tered the New York market Therefore,
| being forewarned, they have naturally
| been fo~earmed for such emergencies and
| have conducted their business according
| ly. 1t is a well known fact the banks OF
| New I'm, the last time, lent every as
sis lance possible to the bear operators,
| and virtually entered into conspiracy
| net to lend money on cotton as collat-
| erai--the hest in the world as same is
universally used-and | am told that the
banks are lending their assistance at the
| present time IN the same manner; pei
hars such an understanding between the
banks might also bear Investigating.
High priced cotton would help in
crease the value of our exports more than
ything else. The outside world take
nearly two-thirds of what we produce,
and the balance of trade, which is sc
necessary for the prosperity of any coun-
try would be greatly increased in oui
favor. The price of raw cotton affects
thu consumer less than anything else. A
suit of clothes that sells at retail for $1s
to $l4, contains about two pounds of cot
ton and two pounds of wool; and advance
Of five cents a pound in the cotton would
nef less than one per cent increase Oh
such clothes to the consumer. Ninety
per cent of our wearing apparel today Is
retailing at the same prices as when
cotton was five cents less: the greai
cost comes in the manufacture-makina
up the ready made garments and Their
tho jobbers and retailers profits. Al
advance of one-half cent a pound on but.
ter, meat and sugar two cents pei
bushel on wheat would be much great
ar burden for the consumer to bear thai
IN advance of five cents pound on raw
eotton.'
Wallace T. Atterbury, vice-president o
he Pennsylvania in charge oil opesxkions
and T. Dewitt Cuyler. a director Of bots
the Pennsylvania and the Santa Fe, ar,
OIL tour over the latter system
| This fact has caused much speculative,
gossip as to the future relations of thes,
two big systems, and revives the ole
story of their being united to form a con
tiuuous line of railroad from the Atlantic