The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1910-07-25
SAMUEL MORGAN
. BIG o. 0PT|M|ST
Can'tlSee How Calamity Howlers
Can Talk About De-
preston.
COUNTRY is PROSPEROUS
President Virginia Carolina
Chemical Gives Views on
Cz.1:.,c,
COUNTRY is PROSPEROUS

Discussing the other day the efforts
h.Irr made by bear traders to depress
American securities, Samuel T. Morgan.
nresident of the Virginia-C Car lina
Chemical company, who has been called
"a Europe on important business, de-
ella rcd that he is a big 90 optimlst
because conditions justify that view.
Mr. Morgan does not believe that the
country is facing any financial Crisis
during the period of summer dullness
on the market. On the other hand, he
takes the ground that the outlook was
never SO bright and that prosperity
among the agricultural people points
to a still greater era of prosperity In
all lines.
No Cause for Alarm
Asked for his opinion, Mr.. Morgan
said:
Our companies last year paid for
cottonseed the highest price IT has
commanded in it's history, Our output
was enormous. astonishing even to the
directors of this company, especially IN
America. where has been the least of
our trade. Our fertilizer business
showed It's greatest and most crafty
ing year of prosperity, ending the last
day of May. Since then 1t has enor-
mously increased and is the greatest
business in that line ever done in the
history of America, and that means the
world.
Show me something that comes
nearer to being representative of the
financial condition of a great mass OF
producing members of the American
Commonwealth. and l will admit thai
| am mistaken: but until / find COM
modities that go closer in their pros
perity to the heart of the agricultural
! prosperity of this country than cot
tonseed and fertilizer I am going tc
keep right on believing that America
is now the most astoundingly prosper
Gus country the world has ever seen.
THE use of cottonseed oil products
which was largely confined to Europe
until a few years ago, is advancing
with tremendous strides in this coun
| try. We can see. of course, that som.
1 people will argue right away from thi!
| that large class of Americans ar,
| too poor to buy dairy products. fol
| which cottonseed products are in par
! a substitute. That's not true, and any
one can figure out its falsity in al
| instant.
Forced to Pny Dearly.
4 People who are buying any produc
in overwhelming quantities of a con
Germ as large AS ours and are making
us crack our back to meet their de
! mand, forcing us TO pay almost wha
is asked for the raw material. cotton
seed, are not beggars seeking bargains
but business men bidding for neces
sity of their trade.
But eliminate the dairy product sub
/ stitutes and consider only that par
of our trade in the cottonseed produc
which goes to the agriculturist for hi
business purposes, and we find that tn
farmer is working hand and foot. no
4 from necessity, but to meet the de
mand upon him for his products. Ayr!
|, cultural products are still the force tina
keeps the balance of trade with III
IN spite of the great development c
American machine making. When ou
farmers are all crowded with prottabl
occupation. getting for their produc,
the highest prices in the peace time
history Of the world. there must he
! very fat and prosperous general con
J, munity to supply such purchasers, an
general business must be in a most de-
lectable condition to produce and cor
!. serve such a community.
II have just oeen called to Euror
. by cablegram which makes peremI
tory demand for my presence Their
and have had the satisfaction of sent
ing to our stockholders a statemel
showing that our joint business In co
> tonseed products and fertilizers. whic
J, had an increase of s5.144, 900 in 100
y '09, has shown an increase of $5,640,0
| above the previous year for 1901
9 1t will be pretty hard work to make
; pessimist of me.
Why He's An Optimist.
81 am an optimist because in all II
;, life and all my reading l never y
4 heard of country whose agricultur
classes were so rich as ours are no
getting splendid prices for everythii
q they produce, that was not fundame
:, tally and positively prosperous. O
: fertilizer output adds to this argumel
for that trade is In most healthy co
:, dition, and for the year ending M
: 80 was the greatest in our histol
In the usual course of events tt
would be our slack season. but 1t h
been a very busy one because the fari
iers are affluent with capital and a
), planning and ordering ahead for the
: fall and winter work. Our advance c
!, ders are far beyond anything we ev
= have known.
This means all over the Unit
:, States, every word of it. and 1t is
= :. fact, substantial thing that no me
: fluctuations of market quotations c
! controvert."
e. n ~