The Birmingham age-herald., 1913-09-24

roadbed has been washed out and torn
up in many places.
Jim Kendall, a popular local travelling
salesman was married to Miss Rose
Monaghan at New orleans few days
since.
An automobile party. composed of RAJ
Lasseter and Willie Lampley, and Miss
Marjorie Long of Eufaua and Miss Mary
Allen of Tampa, Fla. visitor here, had
a narrow escape from fatal injury, when
their machine stidded into a ditch on the
| national highway last night, turned tur-
tie and threw it's occupants to the ground.
Members of the Barbour Medical asso-
citation are heartily indorsing the move
ment for the establishment of a public
hospital in Enfaula.
An automobile, owned by Tom Fryer.
who operate a line between Eufaula and
Clayton, was destroyed by fire last night
on the street. The origin of the fire is
mystery.
A larger crowd than ever is expected to
go from Eufaula and Barbour county to
attend the state expostions TO be held at
MONTGOMERY and birmingham this month
and next.
the slightest reason for any apprehension
respecting the condition of the money
market. The sale of these commodities
in Europe. the heavy loans made to BANKS
and to individuals in the crop sections
and the distribution by the Secretary of
the Treasury, M. McAdoo, of a large
body Of funds to be utilized in the crop
sections, funds which would otherwise
have remained idle in the treasury te-
partment are regarded as having COM
pletely averted any money strain unless
there should of sudden arise unexpected
Fand difficult conditions
= What Are the Commodities?
1t would be of interest just at this time
if there could be detailed report which
would show exactly what the commodi-
ties are against which these foreign Sc
curities are drawn. The first impression
naturally is that these bills represent the
early movement of American agricultural
products to the markets across the seas
Undoubtedly to a considerable extent they
do. But a new factor has been injected
into the trade conditions which are rem
resented by foreign exchanges That is
! the very large balance in favor of the
| Emitted States which has been for two or
| three years and is this year created ny
| the magnitude of our expectations ct
! manufactured products There have come
to New York recently intimations from
\ Russia, from South America and from
| Canada of a rapidly increasing demand
for American manufactures. Within the
J past week word has come from Russia
that our expectation OF manufactured
commodities to that country is likely to
be within the next two years even greater
than at any time in the past Against
these shipments this summer and fall af
manufactured products undoubtedly "A
good many bills have been drawn.
But whatever the detailed items may
be. the fact remains that the disclosure
which has just been made by one of the
great trust companies of New York of
the amount of foreign exchange it is
carrying as part of it's resources is suf-
ficient proof that ? are marketing Amer
ican products in foreign lands upon
vast scale this fan.
The Three Masters of Exchange
There are in New York city three ac-
lnowlcdged masters of the very difficult
science of foreign exchange These arr
John A. Gardin. Fred l. Kent and Max
May. They are true captains of one of
the greatest departments of financial IN
a in,