The Birmingham age-herald., 1911-04-25
The Cotton situation

The Cotton Situation
 Concerning the cotton situation Henry Clews & Co.'S recent circular says in part:
 ''Domestc trade conditions show no change for the better: there is little or no inquiry from spinners for spots, while trade, which gave some slight hope last week of improving, has met with anothe- setback owing to the continued backward ness of spring which. naturally, has held in check the seasons normal de- mand for cotton goods, especially sheer goods and novelties.
 "The new crop continues its splendid promise. In southern Texas the plant is six to ten inches high. and in excel lent condition, while in Alabama 80 per cent of the crop Is in the ground, 25 per cent of the acreage planted being up. In some isolated sections of the belt planting may have been delayed by ex cessive rains, but, in the long run. this heavy precipitation will without doub, increase the productive qualities of the land, admittedly deficient in sub-soil moisture for two years past In this con- nection the Commercial and Financial Chronicle says: Unless the plant meets with a serious setback the next crop may possibly be the largest ever raised by the south, and mark the opening of Q new epoch in cotton culture In this hem isphere' This very forcibly describes the situation and if the crop should pan out as now promised any cotton carried over into next season would necessarily have to be sold at the quotations then ruling for the new crop options. In the meantime the actual supply. and tho actual demand must be the determining factors in finally regulating the price. The bull leaders have shown their abil- ity to jamb quotations up and can doubtless put them higher, but to an un- biased person they look very high" The Railroads and Legislation
 President James McCrea, in the annual report of the Pittsburg, Cincinnati, Chi cago and St. Louis Railway company, just issued, makes the following comment on recent legislation affecting railroads:
 Tt seems proper to note in this con- nection the increasing number of items of tAPGuScS WllACn dlc cutiICly UCyOhu tilc control of your management, and the general tendency in this direction which is being brought about by regulation through legislation, and which, though difficult to detect in the ordinary year to year comparisons of results of operations, must, nevertheless, be the subject of grave concern.
 "The various state and federal laws en- acted during the past ten years have added heavy burdens to the annual cost of operation, and while many of them are intended to provide for safer operation, and are supposed, therefore, to be in the interest of safety. it is becoming increas- ingly difficult to meet this burden and also adhere to the high standard of main- tenance and operation which your com pany has provided for the public.
 During a recent session of the legisla- ture of one of the states in which your lines operate, some 90 additional laws were ! passed affecting railroads, nearly all of which will add either directly or indirect l ly to the cost of operation, and some of which, while purporting to be in the inter- est of safety, will result in radical and expensive changes in the character of your equipment without accomplishing any definite results. Similar legislation Is also being considered in adjoining states
 "The recently enacted federal legisla- ton which requires the changing of lad. ders and brakeshafts on freight cars will
 cost the Freight Car pool lines of the Pennsylvania system, in which your com. pany participates to the extent of about 1;
 per cent. nearly 100000 during the next
 five years. with practically no benen
 whatever to the lines thus affected.