The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1910-06-26

be generally adopted is that the country
will not suffer any very great backset.
even though the Standard Oil company
be put entirely out of business. Texas
furnishes an object lesson in this field.
The commonwealth appears to have been
able to worry along without the Waters
Pierce Oil company; and in other states
where corporations have been forced to
obey the law, business proceeds without
loss or interruption.
The July disbursements of interest and
dividends railroads. industrials, ira
lions and bank stocks foot up to s204,-
100000, an increase of more than SlS,O00,o0o
over the July disbursements of year
ago. This stupendous exhibit OF money
earned Is fiat and infallible contradiction
of the gloomy talk which has been IN.
dulged in so largely in and about Wall
street during the last eight months. The
country as a whole has been making
Roadway and organized business as
whole has been making more money than
ever before. This could not be the case
+, the general situation were anywhere
near as bad as represented by the, Wall
street bears and their agencies for the
dissemination of misleading so-called
news.
The action of the Lehigh Valley rail-
road in making what is virtually a 90
per cent extra dividend to the stock
holders by letting them In on an increase
In capital stock will be urged as a reason
why the railroads are not justified in
asking for permission to levy higher
fl eight rates on shippers. 1t will bs
pointed out that wherever railroads have
kept their capitalization down within rea-
sonable limits they are making big earn
ings, and that this would be the case
everywhere II the several -sAgtems were
obliged to make a fair statement OF act
ual property valuation This is G. feature
oe the problem which will be brought d.
rectly before the interstate commerce
commission during the summer months
while the rate problem Is being threshed
out 1t may have an important bearing
on the ANAL verdict.
Two OF the great capitalists Of the
western hemisphere left New York this
week, going in opposite directions-Thom-
as F. Ryan heading for the Congo region
| In Africa and Jacob H. Schiff, with an
extensive encourage, proceeding to Alas
ka Both of these old men are heavily
interested in the development of the re-
sources In these remote sections, and
while they are away they will doubtless
make very ambitious plans In connection
herewith
the Morgan Guggenheim syndicate foe
| the exploitation u copper, coal and pre-
cious metals in Alaska and in the build
| ing of railroads. while Ryans mind Is
concentrating on rubber and on the uplift
OF the colored race IN the Congo valley.
IS .'ot ueil4eel, however, that he will
be able to replace TIE lore I'D e'''-7T
cut off Of thousands Of poor slaves under
| the humane direction oi ms foriLef part
ner, the late King Leopold. He may,
however, establish factories for the man.
ufacture of artificial limbs and confer
upon the mutilated population new legs
| and arms at cost. or at least, cost plus
reasonable manufacturing profit.
| Mr. Ryan has said that he is very
much interested In the moral condition O.
the Congo people. and he probably real.
| ICES that the physical uplift goes hand
IT, .-and and leg in leg with the moral.
| The other interesting disclosure made
! BIZ Mr. Ryan was that in his opinion
| some of the old veterans OF high finance
might die and the country still be safe
in the hands Of seven youngster (seven
| count 'em, seven). namely, j. Pterponl
Morgan, Jr., Henry p. Davidson Otto
| II. Kahn, Mortimer l.. schiff. John y
! Dennis, George F. Baker, Jr.s and Thorn