The Birmingham age-herald., 1911-01-01
will prevail and make good and in- creasing demand for our products

will prevail and make a good and in- creasing demand for our products. Check to Extravagnnce W. H. Bucholz, vice president Omaha National bank, Omaha, Neb.: Viewing the situation from a more or less local viewpoint, I believe de- cided check to extravaganza and a con- clusion to curtail speculation are en- couraging the view for the present outlook, which will be of benefit dur ing the coming year. Money has been in standing demand during the year, but the country is rich in the products of the farm and when these are mar keted, liquidation of obligations Q banks for various purposes should be | rapid and large.s The farmer Is in an independent position, owing on account | of his crops and high prices of the year. He is not compelled to sell at | the present lower prices offered and | is in fair position to hold and-and | will probably do so for a time unless | he becomes convinced that the present | level will prevail for some time to come.
 | q would not pretend to predict what | the dominant influences of next year will be. It seems to me that much depends upon the action of the present Congress l and the incoming one, and what effect sentiment expressed, measures proposed | | roads and large industries of the coun- try, also with us, somewhat upon the l prospect of next years crops, and the probable prices to be realized; and, gen. orally, upon conditions throughout the
 country yet to be developed by the new year. T think it safe to say, though,
 that business will proceed with caution and along conservative lines." 1 Among the railroad men the sentiment
 Is not so hopeful. Here Is what some of | them say:
 1 Roswell Miller, chairman Chicago, Mill waukee and St. Paul:
 "In my opinion the gross and net earn
 ings of the railways during the year 1911
 will show a decrease from last year" Economies Must Re Made Charles M. Hays, president of the Grand Trunk:
 "The indications are that gross earn ings for 1911 will not exceed to any ex- | tent the gross earnings of the previous
 year. and since the pay-rolls of all roads
 have been largely increased by advanced rates of pay given to nearly all em-
 ployes during 1910, it follows that unless economies are made in the direction of
 expenditures in maintenance of way and
 structures and maintenance of equipment
 net earnings will show a decrease" | l.. E. Johnson, president of the Norfolk l
 | 'I do not anticipate any material change | either in gross or net earnings during
 the fiscal year commencing June 1,
 1910, and ending June 30 1911, from the
 preceding fiscal year."
 | Prosperous Outlook
 S. M. Felton, president of the Chicago, 1 Great Western:
 "The country generally harvested the
 past year one of the largest grain crops | in its history, which should make for prosperity and augmented railroad earn
 ings at least during the first half of 1911' | but on the other hand, there can be no doubt that the present business situation | is not what 1t ought to be, due to too much agitation and anxiety respecting the outcome of certain important questions
 now before government tribunals for set | clement. Recent political developments would encourage the belief that the com ing year will be comparatively free from | harmful legislation. and if the interstate commerce commission will recognize in a substantial way the railroads right to | raise their rates to some extent 1t will. | in my opinion, go a long way toward re- storing that confidence which is now lackfnP.D