The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1910-12-04
ARE FEW EXCEPTIONS TO
RULE OF EXTRAVAGANZA
Farmers Withhold Corn From
Market and Use Crop to
Fatten Cattle.
BY PRESTON G. ADAMS.

|ing before the Interstate commerce com
mission to the effect that the railroads
OF the country lost AN average Of q mil
'1ion dollars day or more through cX-
|travagant and inefficient management
.munity and has given rise to "A most
|intcrestug discussion Of tho question.
.'Arc The American corporations ably
manaecd" and ii may be said that the
answers have by no means been unani-
.mously in the affirmative The public
|hcars OF salaries of $4,000. $4,000. $780,
'D0o, and. in one Instance. S250.o00 being
pnid officers OF these aSgrceations OF
IA pitai and industry, and The conclusion
oftcn formed is that the business must
be carried on with transcendent skill
But what are the sober facts? One Of
|thc very abest Of Americas hnanclcrs,
member OF one OF the three largest inter-
.patoual banking firms In the United
Siatos director in corpora tious OF The
FIRST magnitude. keen inquirer into
.fhings us they arc and as they ought
10 be. u man not yet grown old In the
scrvlce. and who, therefore. does not
'accepl the axiom that what is is best,
ImnJc The following remark in private the
1otllor dav:
"Thc average American corporation is
.nismanagcd II we were 10 permit as
much waste and cXtrava Sancc in our
0ppn business as runs riot in corpora tons,
tnhy We would not be able TO pay the
.accmcnt has not been reduced TO
|friencc by any means. as | have learned
from experience
Exceptions could bc named The
|SIandsrd OH company and the Sreat
Backing establishments Of Chicago have
illuminated waste In a truly rcmarkahlc
'drgrcc II is now AN axiom that The oil
trust pays its 80 pcr cent dividends
Through utilizing bv-products AT one time
'coHsidcred ALMOST valueless. The pack
<rrs. too are credited with turning every
|thing that cnlc?s their doors into cash.
Steel Trust Saves.
The steel trust in it's Gary plant has
greatly reduced the cost Of manufac-
|turc; in fact the saving is far greater
'tlau Inc public comprehends But The
'nrdinarv factory. 1t is claimed. Is indif-
'fcreutly designed and managed with only
|rsediocrc ability. there being too slight
'aitcntion paid to saving the pennies and
'thc minutes. The late Edward II. Jlarri-
''nan did much 10 iuauguratc standardiza-
tion ia running railroads, and James j.
|jgiIl more than amy other individual, has
Improved the method OF getting a dol
|lsrs worth Of results from every dollar
scent IN sending train along the tracks
F3ui most dis arc stIl spending many
dollars in o0cCbnE repairs
.rlich. under better system, could have
|beon carried out without delaying traffic
ilelf ~ much.
Adversity inspires economy. Perhaps
.tbe Interstate commerce commissions
'resrchiug iuvesiis isstious viii reveal TO
'1nlroad managers opportunities for saw
ing money Al many points. The claims
made by shippers may not all be iusti-
He'd. yet when they allege that money has
been frequently spent to poor advantage
|thcv no doubt within the mark. The
authority already mentioned holds an
Important place In one Of the principal
|failroad systems in the country and is
certainly not Swaycd by antagorism 10
'rorporat ions in passing The structures
|uuotcd.
rp.si,. n i'm
'crcsseS he allowed greater diligence viii
'be exercised I'm instltuting economies i'm
mana cement. In the days when conrod
labor was cheap and plentiful the Trans
'rgal mine owners used IL laViShlN, but
after tho Bocr war the supply diminished
'Rnd wages advanced 10 such an cNcint
That something drastic had 10 he done.
With what result? II WAS quickly dis
'covered that men could be spared here
|aDd there at every turn that machinery
could take the place of manual labor
'ln many directions. and that costs could
be materially reduced without curtail-
|Ing output. Is it, too much 10 hope that
lthc railroad mana gers of the United
States will learn from adversely what
they failed 10 learn from prosperity
f'Cone easy. go easy. is often true oi
lmoney.
Finances in the West.
Banking CYCLES. at this center are
much Interested III reports from the west
that farmers are holding back their corn
~
(thc market price. This is one OF the
.cs uses of the recent insisten, demands
,bf the western banks for currency and
,of the comparative slowness with which
Crop money is being released. \ promi-
|nent bank officer OF this city. who has
been AT considerable pains TO obtain
FIRST -llsnd data on this subject, says:
n REPORTS from the cattle and sheep
Growing regions and the far west indi-
Ecatc a decidedly easier siiuation. This
rs due directly 10 the conversion of their
.-~..x I..s..
far interior merchants and bankers I'm
the crop producing region OF the middle
INest have been disappointed in their
Icolleciions, because OF the reluctance OF
<fArmers 10 market coru and grain al
,'present prices. The opportunity seemed
10 the producers 10, he better for market
Ing their large surplus crop oi corn by
Wedding il 10 cattle because OF the high
price OF livestock rather than TO sell the
Icommodly directly. The result is that
VAST numbers OF cattle and sheep have
lpcen brought from southwestern aud far
western breeding ranges and purchased
by farmers i'm the crop growing sections
54cr feeding purposes, Interior banks
'LnHve been called upon TO furnish money
for the purchase OF these cattle. and as
ia result the position of the country banks
'In The cattle breeding and grazing sec
tlon has been made easier. while that OF
stthc middle western hanks has been kept
ltighi. not only for lack of ability to col
Icct outstanding louns. but owing 10 the
= lecessity they were thus placed under
10 Increase their discounts,
j. n This situation VIII right Itself as soon
A. ~ me cattle which are now under feed
Z nave been made ready for the market.
Nj ~ all probability, the widespread feed
ping during this season VIII bring u re-
lresEiop In the prices OF cattle. sheep and
DOGS. and this in turn viii open up the
ppsslbiiity for large export trade In
tHprlng, with advantageous results upon
[pur Trade balances. II VIII also have a
nenstieiai effect In the liquidation of
issins Que TO interior banks by their local
u tptr,o~crs. az we'll as in giving those
nnhnks nhnks ihc means TO discharge their own
|''S,u,tiee Tor the money borrowed.
al, lhesc circumstances must sooner rr
'.,'r ne reflected i'll this market and pro-
70 trade"
.'tclllVeStiupDt uf uuuary Jish,re,.-