The Birmingham age-herald., 1911-04-23
PROSPERITY ALL
 OVER COUNTRY Travelling Men of Affairs
 Say So ELECTRIC RAILROADS. Are Gradually Coming to Be Used More and More-How Lists
 of Suckers" Are
 Obtained


 may be thought I dwell too much on the generally prosperous condition of the country in these letters But it Is pretty big question which interests us all and then prosperity is a right good ! thing to think about. So I'll risk an- other paragraph or so on conditions. Every man of big affairs who travels with his eyes open through the west and south comes back with the same story of sound business conditions nothing in the way of a boom be it understood, but a good steady con sumption demand, people with money for it, bright crop outlook and alto gether a pleasant story to hear. President Frank A. Vanderlip of the National City bank for instance after trip covering nearly every state in the south and west comes home a pro- nounced optimst. President B. F. Yoakum of the Frisco lines tells the same tale and so it goes down tn line,
 The only discordant note comes the pur1iens of Wall street. The common people are either too busy, too wise or both to go in for gambling, so the stock or cotton brokers are compelled to play among. themselves and every body knows there is no. money in any game where the players are all profess | ionals. The lamb Is especially essen tial for pleasant and profitable gam ble on stocks. cotton or grain.
 Taking it by and large it Is doubtful | if the country as whole ever was much better off than 1t is now.
 One of the interesting developments in American transportation is the slow but steady electrification of the steam railroads. All the big systems which enter New York are now using electric . ity so far as their terminal divisions are concerned and are gradually ex- tending the zone of electrically run trains.
 The electrifcation of steam roads is as yet somewhat in the experimental stage,' a New Haven official is quoted as saying. but within year you will see the New Haven electrically equipp- ed as far as New Haven, and possibly work started on the Boston end. Our engineers are now working on the question of transportation of freight hy electricity, with very good results hile the New Haven may not be showing. any substantial reduction in operating costs between New York and Stamford by the use of electricity as compared with steam, the general re- suits to date have more than Justified the expenditure. I think there will be a wonderful progress made in the ap- plication of electricity to steam roads within the next few years, and this will show some rapid changes in the conduct of the railroad business of the country.
 When the Federal authorities raid questionable concerns engaged in the selling of mining and other stocks they frequently find lists containing thou sands upon thousands of names and addresses. Surprise is sometimes ex- pressed that such collections of possi- ble dupes could have been gathered. Those familiar with the workings of 'he financial districts know fairly we'll how these lists come into being There are men who make a regular business of supplying. these sucker" lists at so much per thousand. The names are collected in devious ways. Those who are ever induced to reply to any of the glaring advertisement S | of promoters are forever after regis tered as possible easy marks and con- | tinue to receive the most amazing off, CTS from swindlers.
 | One of the best lists In existence has been enriched by names supplied by | q paper which makes a speciality of giving advice to investors. These | names are vended, it is said, at 10 cents each, and the sellers derive nice little income therefrom. When one concern is forced out of business there is usually keen competition for it's mail list Thus the more energetic promoters can In course of time compile lists as long as their customers are | short of sense.
 | Tn five years s1,620 00O,000 bonds. notes and equipment obligations have matured in this country. Of this huge total short term notes have contribut- cd fully half-$S70, 000, ,000--to be exact Bonds have been responsible for some what under $54o,000,O0O. A feature of the 1909-1910 financing was the exten- sive installments that had to be paid on stock Issues, whereas scarcely one company Is now receiving funds under | such a scheme. The absorption of new stock issues has been so indifferent that borrowers have either contrived | to place bonds or have resorted to short term notes. As compared with former years, 1911 and 1912 brings few matur- l ing obligations.
 | The production of gold in South Af- rlca last month broke all records. The yield of 676,065 ounces is comfortably above the previous high figures ssO.- GAS, recorded in December, 1908. when the total was swelled by the customary cleaning up at the end of the year.
 In January of this year the yield amounted to 651-Aa7, easily high rec ord for that month, while February elso contributed the largest total | CHOOSES ounces) for that short month. For the first quarter of 1911, therefore. | the production has totaled 1,937. .920 ounces. against 1,7s1109 In 1910. 1,7S7.- Ss1 in 1909 and 1,677,16O In 1908. If this rate be maintained the grand total for 1911 will easily eclipse that for any previous twelve months. The value on this occasion approach $175, 1000. The whole of the Rand's output Is regular | y consigned to London by the weekly
 mail steamer from Cape Town and is offered each Monday in the open mar lSet, from whence 1t goes to reinforce the bank reserves of England or France
 or Germany, or the United States, or other countries.
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