The Birmingham age-herald., 1911-01-01
LONG LOOK AHEAD
 BY BUSINESS MEN Quiet Year Is Expected in the
 World of Finance OPTIMISM IS KEYNOTE While No Big Boom Is Looked for It Is the General Opinion That the
 Coming Year Will Be One
 of Solid Profit
OPTIMISM IS KEYNOTE

New York, December 31.-(Special J. What does the year 1911 hold in the way of business development in the United States?
 This question has been asked of lead ing bankers, railroad men and business men whose opinions carry weight and are entitled to consideration.
 While some of them are inclined to take rosy view of the outlook, the weight of opinion is that there is not likely to be a business boom during the year just beginning.
 Here are some of the opinions:
 Darwin P. Kingsley, president of the New York Life Insurance company: "1 do not consider that the business outlook Is good. Broadly speaking, I attribute this to the following causes: Yellow journalism. a, bad currency system, the inevitable cost of extravagance, the bus mess menace of criminal statutes which no one understands, histeria in politics and legislation, the growing conflict be- twen the two parts of our dual system of government, resulting from the fact that business once local, has grown and taken on interstate relations.
 "The ability of our natural optimism and energy, together with the unfailing output of the soil. has hitherto enabled us to overcome all these adverse condi- tions and to make great progress We shall probably overcome them in 1911. but our ability to do this will constantly decrease hereafter if proper remedies are not applied"
 A. B. Stickney, former president of the Chicago Great Western railroad:
 'In few months Congress will take long vacation, the soil will continue to produce an abundant harvest. Hope. imagination and prophecy will regain their positions. returning extravagance will sustain increased production, and boom will go the market"
 Factor of Encouragement
 w. R. Ingalls, editor Engineering and Mining News:
 ''The factor of chief announcement in the financial outlook, it sems to me. may be generalized as the tendency among people once more to accumulate savings, or perhaps should say. the recognition of the economic necessity of so doing This means the reduction of extravaganza aad the incidental increased economies in pro- duction. A more or less liquidation of labor is implied and that Is desirable, but in some strongly unionized indus tries, as. for example, railway transpor- tation. the freedom of liquidation is im- peded. In Shose, the great remedy Is improvement and efficiency"
 David R. Forgan. president of the Bank of Chicago: sas.ss
 "The helpful feature in the present banking situation Is that we have sky weathered the crop moving period and the resulting easy tone will sooner or later lead to renewed activity both in business"
 Revival Not Expected
 c. H. Huttig, president of the Third National bank of St. Louis:
 "I don't look for a business revival during 1911. I believe trade will be stationary, inclining toward a little further contraction in thoso large in. dustries which are dependent on the purchases of railroads. The tendency of the year will no doubt be for the practice of greater economy in the con- duct of business
 '"The money market prospect is for an absence of loanable funds, with slightly easier money rates. Interest too xuiI1 hn owhnf nm dov the average for the major portion of the year."
 Graham G. Lacy. banker, St. Joseph, Mo-:
 q believe there will be a gradual revival of business during 1911. II will be necessarily very slow at first but gradually increasing in volume, SC that possibly toward the end of the year business may again have reached somewhere near normal conditions. believe that the dominant influences of the. next year will be political condi- tions as affecting corporation admin istration or revenue laws.
 "I believe that the demands on cap- ital will be such as to keep money at relatively high point during the year. There Is an immense amount of financing to be done which has been proposed from time to time and if we u c will be a gradual revival of business next year much of this financing will be done and the demands on capital will. be such as to keep the surplus funds of the country pretty well em- ployed."
 Nashville Mans Views
 F. o. Watts. president of the First National bank. Nashville, Tenn:
 "The most helpful feature of the out look appears to me to be the fact that thoughtful bankers, business men and public officials are applying themselves toward proper solution of our bank ing. currency and political problems.
 "The business In the agriculture sec tions should be above the average dur ing the year 1911. though manufac- turing may be below normal. The dis position of the railways seems to re- trench and to cease extensions and bet terments, taken with the general slow ing down in manufacturing will prob ably cause the early months to sec little improvement, but as the causes disappear (real and imaginary. flnan- cial and political) the full effect of American production and good sense