The Birmingham age-herald., 1912-04-07

of more moderate ones and that it thus has cut out for it th~ definite task of filling up the channels of distribution and consumption that were so obvious ly restricted by the high prices of pre- ceeding seasons. 1t Is encouraging to know that we have one section of the country al least that is enjoying pros perity from new wealth taken from the ground. An additional advantage pos sessed by the railroads of the south Is, of course, the fact that they are not subjec to the losses fin traffic and the damage to roadbeds and equipment so
 intimately associated with cold wealth CT and blizzards of the west.
 But while the south may be regarded as being peculiarly fortunate this year, an inquiry as to the extent other sec
 tions of the country are suffering real depression does not receive an altogeth
 CT discoura ging reply It. is true that our grain crops did nc- come up to eX- pectations in 1911 They were not bumper" ones. Nevertheless, the crops were by no means failures nor were the prices obtainable for them unprofit- able. Therefore, from the agricultural standpoint the entire situation through out the country is certainly not unfa vorab1e and there is nothing the matter with the fundamental basis of pros perity known as the crops" All that
 has happened is that new records has been made. But to the American busi- ness man of today this q business fa- tality as he feels that if his business is
 not day by day or month by month
 achieving new records he is going back
 ward He Is not willing to do moder-
 ate business.
 R. s. Lovett. who completed an inspec- ton of Hartman lines says:
 There Is a general feeling of pros
 perity in the air out west just now.
 This probably is induced by the rains and snow, which are sufficiently heavy to insure first class crops from New Orleans to San Francisco. As for rail-
 road building this year, the Hartman system will keep up with the general development of the territory 1t serves,
 Double tracking the entire stretch from Missouri river to the coast at San Fran cisco in time for the exposition In 1915 Is our aim"
 It will undoubtedly surprise the many who entertain the popular belief that everybody has a snap in Wall street to learn that in some cases working hours ir this district are considerably longer than those of the hardest toiling la borer Long before Old Sol gets around the New York representatives of the London brokerage house gives his last yawn and jumps for subway train, arriving at his office in time to start trading in the London market which opens at 10 a. m., London time, or a n.. New York time. He Is then on the job until the little hand of the clock gets well around to again.
 The London exchange closes at D. m, or II a. m. our time, but the close by no means interferes with busi- ness among the members: for trading continues until the dust of tho sweepers becomes intolerable when those mem bers of the exchange interested in American securities adjourn 10 Shorter's Court and buy and sell Americans up to 1 s D. m. which is D. m., In New York,
 or the closing time of the New York l stock exchange Thus from in the morning until in the afternoon the
 New York representative of the London
 CIV York representative of the London
 house is doing business m Americ!*an
 securities. and by the time he puts his machinery in shape for the following day at least 12 hours have elapsed since
 ho emerged from the arms of Morpheus.