The Richmond Virginian. (Richmond, Va.) 1910-1920, 1911-07-15
COTTON CROP Is
WORRY TO STREET
FEAR IT'S GREAT SIZE WILD HURT
INTERNATIONAL TRADE
POSITION.
RUMORS IN RAILROADS
HaWLEA. THROUGH NEW MExI.
CAN LINE. MAY BE FIRST TO
JOIN ATLANTIC TO THE
PACIFIC.


NEW YORK, July I4.~--In 81 ses-
sieh mat made new record for three
eafs IN Guinness the stock market
''osea without any change worth
houhg. At one time Southern Pact
he acted as though il was going TO
move. but after advancing a point
II Tell hack to where it started. Sfocks
OF the fertilizer companies were strong
throughout the session, particularly
American Cotton Oil. This strength
Was Que 10 the promise Of cheap cot
ton seed for next years operations.
Nall Street Is becoming much
worried over the prospects OF 81 cot
ton crop that viii be So large as to
n9ft the International trade position.
Gather III the cotton belt is pro-
NokingiN favorable and the promise
grows daily OF record crop in point
OF size, Corn, however, seems to be
losing for private reports state that
the drought area Is becoming NOR,
extensive. This is in accordance with
the government weather reports ana
the record high price OF corn In Chi
cago Verifies IL.
RMS high price OF corn In Chi
cago is a cheerful feature of the stock
market situation for II indicates that
the farmers VIII get more money fer
their smaller crop of this year than
fney Old for the record breaking one
of last year This is consoling TO tho
railroads because It insures a heavy
tonnage Of materials purchased by
farmers. The railroads also say that
the shortage OF about 20. 600. 900 tons
In hay Is not so much II calamity US
the general public supp0ses Hay
ts crop that is usually consumee
In. the neighborhood where IL is
grown. The only tonnage it usually
produces for railroads Is in the trans
portation Of the animals that X feeds
This year large sections of the coun-
try having no hay crop are compelled
To purchase their hay from distant
laecs where the crop is a record
rreakcr. Therefore, this year the
railroads will carry millions OF tons
Of hay as freight IN addition to carry
tog the animals fed by IL.
Everything Works For Railroads.
Thus everything works for the
railroads. even the weather Before
long they will be bile To convert the
Interstate commerce commission into
hull argument, When they finally
abandon hope OF getting freight rates
advanced and dry their cry baby eyes
they viii be able TO see tha- ii la a
TIL argument to have the govern
tnont If The United States make 81
Official llomise to let them earn
enough money 10 pay re8souahie divf-
dends.
Ellie WAS sold again to-day-this
Zine to the Burlington. Burlington
has not arehased Erie for several
wears and the reasons for its pur-
chase this time are even stronger than
they Mere when Wall Street sold
tie property to Mr.. Hill several Years
ago by anneXing the Erie, RurlinR
ton would have through route from
the Atlantic to the Pacific. 1t Is true
James J. flH has put himself Ia
reccrd pton,r times as ridiculing the
drear, of an ocean to ocean railroad.
Hut reciprocity makes difference for
Il very great quantity of Canada :,
multiplied business VIII find mar
ket borough the United States and
erie Is an ideal freight railroad. Wsll
Street ~ overlooking the fact that
everything that has happened in Erie
stock in the market can be fully ac-
counted for by the improved eondl-
ton 70 the property and the increas-
ed earning. power it has developed
In the last year.
Ha~psey's Transeontinenial Dream,
Election of Edwin HaWley and Theo-
dore z. Shonts TO the board Of the Kan
sas CITY. Mexico and Orient Railroad
gives the Orient Railroad and outlet
on the Atlantic over the Hawley lines
and gives the Hawley lines an outlet
TO the Pacific over the Orient. The
Orient road is not finished bat when
Will extend from Kansas
CITY to Topolombampo, Mexico. II may
be tnat Hawley will get the first trans
railroad after all. His
operations have been something OF
mystery for several years
Threat OF another congressional ist-
vestigation of the steel business at
traeted attention because the new In
uuirS ~ to he directed against some
thing that is really bigger than amy
trust The international institute OF
Steel reeentiv organized at Brussels
with l.. II, Gary as emperor and the
Golden Rule as his badge of office.
This new steel organization Is bigger
than any nation and its object is to
protect the business against unfair
and the politicians In all
nations. The attorney general of the
United States is going to try to COM
pei the steel people to do what the
district attorney Of the county or New
York is trying compel the ice com
napteS Df New York not to do Thus