The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1910-05-15
ANIMAL PAYROLL
OF THE RAILROADS
Reaches the Enormous Total OF
1927 ,233,Oo0
FROST DAMAGES COTTON
II 7. Charged That the Meat Trust IL
Getting Control of the Egg Sup
blythe Prices Are Be-
ing Held Up
BY PRESTON c. ADAMS

New York May 14.-(Sjec1al).-Ihe an
nual payroll of the railroads Of the Unit
eG States reaches the enormous total OF
81, 227, 233, 900. In less than three years time
the entire money supply of the country,
gold, silver, paper, nickel and copper, is
paid to the railroad men in wages, and
the railway wage advances, already made
OF to be made before the end of the year,
are now estimated at $100.000.00 for the en-
tire country This is the figure given by
President Brown Of the New York Cen
trail. 1t includes, of course. many adj
varces, the details of which have not yet
been settled $40
1t would be hard to find a statement of
fact which would show more clearly the
place the railroads hold in the business
of the country.
We will be figuring for some time yet
on the damage done by the recent freeze
which covered the producing sections of
the country almost from the Gulf to the
Canadian border. 1t seems now that the
reports of crop damage was greatly over
estimated at first and the disposition
seems to be now to go to the other ex-
treme and minimize the damage done.
This seems particularly true in the mat
ter of cotton. That considerable por-
ton of the crop has had to be replanted
is certain but the optimists now say this
will make little or no difference and
full crop may be looked for.
Cotton planted In May may make as big
a crop as cotton planted a month or six
weeks earlier il frost holds off month
later for cotton will continue to make
until frost. Tile chances are therefore
that the cotton crop will be short. I am
glad to hear that the Georgia peach crop
is not seriously hurt.
With receipts of eggs at this season re-
ported as largely in excess Of last year
dealers throughout the city are puzzled
over the fact that prices are being kept
at higher fig Ire than during the cores
ponding period one year ago. A report
IS general among the large wholesale
dealers in eggs that the meat trust had
gone into the egg business, wishing to
control this commodity as well as poultry
and fish SO as to prevent any cheap sub
stitutes for meat being in the market.
Its a mistake to suppose that the
railroads are opposed to any or the
deep waterway plans that are being
agitated In this country" declares G
II. Carter, an official of the st. Louis
and San Francisco railroad. "Oppon-
ents of deep waterways have tried 10
create the impression on the public for
long time that objections to deep wa
terway plans are being fought by the
railroads. but this is not so gener-
ally
"Of course, there have been a few
short sighted railway men, who, when
the agitation for deeper waterways be-
gan, opposed the movement. but after
they became better acquainted with the
subject their opinions were changed
Deep waterways, especially In the
Mississippi valley, would be of great
advantage to trunk line railways. Some
business now hauled by the railways
would, of course, be diverted to water
transportation, but the loss suffered
from this would be more than over
come by an increased traffic on i'm
ports from foreign countries, princi-
pally from South and Central America.
This business would come by the deep
or waterways into the interior OF the
Mississippi valley and at different pointe
would be there transshipped on the
railways all over the country. Think
ing railway men believe, therefore, thst
deeper waterways would be a good
thing"
From January to May ! sales, OF
stock on the New York stock exchange
reached $500. 000, 900 against $780,
900, 900 in 1909. Bond sales for the
same time last year aggregated $780,
060. 900, whereas this year they have
lust exceeded 100000. 900. decrease OF
$3.50, 900, 900, which leads to the inquiry:
Has capital in the United States be.
come worth per cent?
The great international banking
houses and the leading investment
firms in New York complain, in course
of interviews this week, that they can
not afford important blocks of straight
bonds on terms that 10th borrowers
end buyers regard as reasonable. a
semi deadlock has arisen. A per
cent bond is today less attractive than
. per cent issue was not so long
ago. Unles an investment contains q
speculative feature of one kind or an
other or unless It yields nearly pei
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