New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1910-08-02

President StiIlWelI Says Market
abroad Reflects Unrest Here.
But HE SOLD $1,000, 900
Crop Conditions IN Europe Are
Good-Developing Lines
Into Mexico.

Arthur L. SiE~e.I. president OF the Kan
ur CIV Mexico & Orient Railway Com
,a-,- returned here yesterday on che steam
e- Rotterdam, cf The Eolland-Ar'2erica
Sape. tenn q t-Fo months "trip ABROAD, cur
.,r which be succeeded in placing IN Lon
6ca sseJoa1 OF tie conpanys first mort
gage afty-yes- 4 Per cent gold bonds
spaaking O. tie attitude of London and
Paris bankers toward American railroad
securtties. Mr.. StilIweu said:
"A general unen!n1ity Of opinion pTeVal!s
euoug them that for some time 10 come
TO more American railroad securities can
be placed abroad. for Che reason that those
already underwritten have not been taken
Up by investors as readily as 1t was eS-
,7octed they would be. Little enthusiasm IS
displayed ever these securities. a0o panh-
srs are not inclined TO take up any more
while a part of the earlier underwritten is
sues are as yet undisposed Of.
Business conditions In England, Mr. Still
we'll said. as reflected by the trade balances
were excellent. but crops were likely to
suffer a bit OF account Of the prolonged
end hesyy rains during tie last month
or five weeks. Crop conditions on the
Continent particularly in Germany, France
end Switzerland, he added. appeared TO be
good.
In regard TO the outlook for the railroads
In this country, President Stillwell said:
THE railroads here ought to be given
encouragement to go ahead. They ought
&c be allowed TO share in the prosperity
of the country 20 greater extent than
they do at present. because they are the
greatest general contributors toward that
prosperity They should be put in a posi-
zion where they could cxpend $500, 1000
That Is a sum that could be most judictous-
IL expended by them in the next eight or
ten years in bringing better operating con-
o:tions and increased facilities
THE conditions Of unrest that prevail
here In consequence of legislation that Is
founded Oh agitation rather than on good
sound law are doing this country harm
abroad. This is evidenced by the general
closing of the markets there against Amer
fcan securities, and the giving admission
20 South American securities
Referring 10 the placing OF $5.Gon,oo0 Of his
company's bonds abroad Mr.. stillweH said:
The sale was made to a syndicate of
prominent English bankers. The proceeds
received from the sale Of these bonds will
be applied on construction work on the
line from San Angelo 10 Del Rio, Tex.
This line will be completed so as TO es-
tabIish q connection with the Mexican Ma
tional Railway, thus giving the Orient line
direct entrance into Mexico City and max
ing possible the transportation Of through
freight between that city and Kansas City.
Work will also be pushed on the line
running southwestward from san Angelo.
to connect with the tracks east of the
Conchos River in Mexico, So as 10 bring
the main line into chihuahua, where it
will tap the north and SOU lines Of the
Mexican Central. Present indications are
that the road, as projected, Will be COM
pleted in about two and q half years
Mr.. Stllwer will spend a short time in
New York before leaving for an inspection
of the latest work done on his line in
this country and Mexico. The Kansas City
Mexican & Orient Railway, when COM
s8leted, Will run from Kansas City to Topo-
Ioaampo. Mexico CT the Guif of California.
r distance of 1863 miles, of which SIS miles
ere already in operation