The Birmingham age-herald., 1910-10-04
GREAT FUTURE FOR
 IRRIGATION WORK
Australia Is Setting the Pace
 for America
PROFIT IN CHEAP GAS
As FARMERS REGISTERING
Company in Chicago Feared Bank ruptcy When City Forced Prices Down But Has Been Making
 Money Ever Since

Down But Has Been Maktng Money Ever Since
 Chicago. October 3.-(Special.)-Th weak or defective titles to water for irri- gation and similar purposes, which have given rise to endless litigation of water rights in the United States, plainly as- founded H. Mckenzie, minister for lands of Australia, when he arrived in Chicago to investigate the financial phase of irri- gation. The great projects undertaken in western states to reclaim arid lands had impressed him greatly. The basic weak ness of irrigation securities-an inade- quate title to the water necessary to transform arid to productive land and thus provide the absolute value of the securties-has caused the ultra-conserva- tive banks to decline to purchase them. Some ss00, ,00O000 of irrigation bonds have been issued, it is estimated, but their fu- tnre is now very gloomy unless water becomes property to which there is un- assailable title, as in Canada and Aus tralia. This will require an amendment to the constitution of the United States. Irrigation has done more than any other one thing to bring Australia to a pros porous condition Minister Mckenzie said. 'andsf am here to study the meth ods used in the United States to be ap- piled in our process. We believe In ownership of small tracts of land farmer can handle few acres better than a larger tract. Our government owns all inland streams, and in that manner controls their use. I saw Presi- dent Taft at Beverly last week and he assured me irrigation would become a still greater feature of American lands in the future"
 Larger revenues for the 'gas trust of Chicago as a result of the cheapening of gas, which it bitterly opposed, have be- come the company's boast now, indicat- ing how managers of big corporations make shortsighted mistakes. Nothing less than progressive bankruptcy for the company was predicted when a reduc- tion in the price was proposed a few years ago. As compared with those of three years ago the gross receipts Of the Peoples Gas company show an in crease of S1, ,415,22 and the surplus earp- ings available for the stockholders are larger by S594.322 Figures are presented by the company showing that its gross receipts for 1909 were s14,561, 5SS and the operating expenses S, S,504,596 leaving net earnings above operation of s6,056, ssA After writing of s1.034,5SS for deprecia- tion and paying bond interest of $1 ,90s, 300. the surplus earnings available for stock dividends were $3,113,1O4, or s.s per cent on the outstanding shares The dividend rate is per cent These figures are cer- titled to in offerings of an additional s2,000.000 of new bonds. The reduction in price increased the consumption of gas and intrenched the company securely in the good will of the public. fact which figures prominently in the reasons ad- vanced for its stability when the com pany wants more money for expansion. The two-cent passenger fares also in creased travel and passenger earnings in Illinois and other populous states.
 The change of season from summer to autumn brought about the shattering of the time-honored theory about equinoctial storms. The autumnal equinox was passed at 4:31 D. m. on September B, which took away that distinction from the Fist. But Professor Cuthbertson. fore caster at Chicago for the United States weather bureau, declared: "The old theories about equinoctial storms have been exploded. Years ago people used to believe that a severe storm of some sort had to be expected at such a time. I have been studying weather conditions for many ears and as yet have never been able to discover any phenomena which could be attributed to the change of sea- sons at just the time when the sun crosses the equator.'
 What share did Chicagos neglect of lake commerce have in reducing the rate of population growth from 54i1 to 2S per cent?
 This Is a concrete problem now being worked out. The rate of growth of Mill waukee, where lake commerce has in creased yearly, was greater than Chi cago's, so was Detroit's. What relation do these facts bear one to the other? Chicago's greatest growth in a decade was during the years when lake com merce was increasing by leaps and bounds Between 1860 and 1870 Chicago grew at the rate of IFS per cent, and during three years the lake commerce -eaceed proportions that were fl per cent as great as 1t was in 09-approximately 6O00,000 million tons in and out instead of 14,500,0O0 tons. The city in 1870 was a city of ooo0O-one-seventh as large as today, but with nearly half as much lake commerce. Since 1898 there has been decline rather than gain in shipping to and from Chicago, due to poor har- bor facilities. During the same time New York's maritime commerce has grown continually. likewise its population. The census total of 2,1s5.2s3 for Chicago put the harbor question into concrete figures and it also put the Three Million club into a fine predicament for 1t has issued rosy estimates of growth which promised that the 3,00o, 900 figure would be passed in | a walk and that the census would show | 3. 3.333, ,333. or whereabouts. The biggest | cities of the world now are these: New York, 7ss,ss3; Chicago. 21s5.2s3; Tokio, D. 040, ,14s; St. Petersburg, 1.67S,00o; Canton, l. 6Oo, GOO; Philadelphia, 1,549,00S; Moscow. l. s5a, ,254; Buenos Ayres. 1,125,o0o; Constanti-
 nople, 1.1os,ooo.
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