The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1912-09-08
DR.. GRASTY ON THE
BUSINESS OUTLOOK
Says Presidential Year Is
Having No Retarding
Effect on Trade
............s...s........

DR.. j. S. Grasty, mining and economic
geoogist, and professor in the depart-
ment of geology In the University of Vir-
gnia, who isstoppng at the Morris while
examining some ore properties in the DIS
trct, is very enthusiastic over the busi-
ness outlook and the future of Birming-
ham.
'1n previous presidential years" said
DR.. Grasty, during the few months prior
to the election, business has slowed down
and the Inauguration OF new enterprises
has been about nil The coming election,
however. seems TO be an exception, and
apparently there is no retarding effect
whatever. In spite of promises of the
political platforms to reduce the high cost
OF living, prices of various commodities
continue to rise. SO long, though. as this
is uniform no one seems to care. The
pinch Is like the tariff the bad feature
of which is the discrimination that con-
sists in taking the peoples money for the
benefit and the profit of a few.
However, since iron Is the barometer
of trade and as its selling price increases,
It forecasts the coming of better times,
renewed and augmented industrial activ-
ity, and those that appreciate its slgniti-
canoe gain the necessary confidence to
get ready for bigger business.
with the price of pig iron on the IN
crease, the Birmingham district is not
only fortunate in having its leading in
dustry profit as n result. but the whole
district win be the beneficiary. The time
Is coming here. however, when though the
price of iron may continue to Indicate
general Industrial conditions, the effect
locally of depression of the iron mar
yet will not be so marked as it is now.
This is because new industries are being
established here every year with an ac-
c,r, ,vta ar dfNFercifpa I'm
doubtedly Birmingham is destined to be-
come the richest and most populous city
of the south.
with regard to the effect of the govern
ments suit to sever the Tennessee Coal,
Iron and Railroad company from the
United States Steel corporation, my opin-
ion IL that whether the government wins
or loses Birmingham will continue to forse
ahead. Personally, believe that it would
be best for the district II the government
won, and all Of the companies OF the dis
trict we're organized into a great southern
iron and steel company, which in raw ma
terial resources would be richer even than
the Steel corporation. But holding this
opinion, 1t may sound paradoxieal to add
that I regard Il as a most fortunate thing
for the district and the south in general
that Roosevelt permitted the Tennessee
Coal, Iron and Railroad company absorp-
ton. He may have believed then. as many
northern capitalists did at that time that
the Tennessee company was little
southern steel company OF no great inn
portance, and It's acquisition by the Steel
corporation would be merely an Incident.
The noise and fuss that the zeal has sub
sequenty created is wherein the good OF
It lies for now the whole country knows
that the iron reserve of Alabama and adj
Joining states Is greater than that of the
great Superior district