Evening star. [volume] (Washington, D.C.) 1854-1972, 1911-02-26
$50 Interest

fully reconciled to the idea of an extra
session bf Congress, but will be In
state of mind to stand for the infection
IL there is no escape from 1t. 1t has
taken only mild interest in the reciproc-
ity contest, and does not as vet ruliy
realize the dangers incident to the tarin
agitation which will be an inevitable fea-
ture of a special session /.
The statement that the production or
steel rails for 1910 footed up 3,6OOOOO
tons was great surprise. Even those
who had kept close watch over the sta
tude of the output Very little new con-
struction was undertaken last year. and
the rails that were put down were al
most wholly in the way Of replacement
of heavy rails for light ones and of
making good the regular wear and tear.
The full capacity of the steel mills is
now about 6,OOOOOO tons a year. 1t
looks as though at least half of that
would be needed in routine replacement
A marked development of recent mar
ket making and market management is
the substitution Of the banking syndicates
for great individual personalities. The
individual titan will hereafter shine in
the council meetings of the groups of
Of one railroad, but Of many railroads
and groups of industrials. The change
does not, as many have said, mean the
passing of the truly big man, but rather
the shifting of his position from the d.
rect glare OF the spotlight into place
of greater privacy. He will dominate in
the future just as he has dominated in
the past, but his personality will not so
startlingly, impress the general public.
The Day Of Organization.
He will operate not single-handed. but
Through IAN organization The value
and meaning Of organization is being bet
ter appreciated every day. and the truly
great man is very well satisfied to make
his influence felt there instead Of being
obliged to adopt the old method of plac-
ing himself in the foreground and leading
spectacular charges against the enemy.
He accomplishes his ends now by quieter
methods and quite as effectively II not
more so than in former days He repre-
sents now the organized power OF the
aggregate dollar. The more dollars q mar
ket general can assemble tn esreater his in
f1uence, and the wider his range Of power,
both at home and abroad. Organization,
as it is now being understood, represents
the down to date science Of business and
of high finance. Presently it will con-
troll the International politics Of the world
as 1t is now working into control Of Its
commerce. This development is in itself
the visible evidence of a peaceful revo-
luton to which every civilized nation is
contributing and none to a greater ex-
tent than America.
The fiscal reports Of the Lackawanna
railroad are astounding revelations as to
what a railroad can do conservatively
and honestly handled through a long
period. For its mileage 1t is the richest
railroad in the country today, and its
stockholders are fully entitled to what
ever distribution of assets or expansion
Of capitalization it's management may
grant. It seems we'll content to hold its
position, and stories OF its probable alb
sorption of the Wabash or any other pow
erty-stricken line may be accepted with
doubt.