The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1913-11-01
FIGHT ON RAILROADS
OF GRAVE CONCERN
TO BUSINESS MAN
First National Banks Re-
view Deplores Attitude
Toward Corporations
ENTITLED TO FAIR
RETURN ON MONEY
Transportation Lines in Alabama
Have Held Up All improvements
Since Lower Rates Went
Into Effect

The First National banks financial and
commercial review of November 1 is as
follows:
Crop moving in this section has pro-
ceeded during the month with unusual
rapidity, so that the banks are now about
as well advanced with the collection of
loans based on farming operations as they
usually are on December 1. Our own cur
rency shipments this season from Sep
TENDER l to date are about twice as great
as for the same period last year-s4, 551 5S5,
against s2,2S4,SO0.
During the past 10 days, however,
there has been a market falling off in cur
rency shipments, indicating a slackening
of the cotton movement, as well as an
abundance of funds in the country banks.
Our correspondents at all points through
out the state report better collections and
larger retail trade than last year.
Our own city receives only compare
lively small amount of local cotton, but
our merchants report up to this time good
business due to the large pay rolls Incl
dent to the steady operation of the mines,
furnaces and mills in this immediate vi
cinity, as well as to shipments by jobbers
to smaller towns. The cotton mills, de-
spite the high price of raw cotton. have
a comparatively favorable outlook ahead
of them because of the satisfactory de-
mand for textile products, but in other
lines the situation is not as encouraging.
Coal and Iron
THE coal trade shows some improve
ment, but there are occasional complaints
from operators of car shortage. The pig
iron marekt is dull and weak and the
marked recession in the price of steel
products during the past 80 days has
failed to stimulate the demand Much
talk Is heard of the curtaiment of the
production of pig iron, and it is thought
that the rail mill at Ensley has only small
orders in sight 1t is reported that some
men at this mill have been laid off and
the rumor has been current that the mill
would shut down after this week, but it
is understood that an order for 5000 tons
of rails from the Atlantic Coast Line will
insure the operation of the mill for two
weeks more, during which time it is
hoped that additional orders may be re-
ceived.
1.-The lumber trade is still dull owing
partly to restriction of new building oper-
atoms and partly to lack of orders from
railroads, which are normally large con-
sumers of lumber, as well as of iron and
steel products.
Railroad Situation
1.-THE railroad situation is a source of
grave concern to thoughtful business
men. During the past 10 years our great
transportation lines have been ground be-
tween the upper and neither millstones
of federal and state regulation, and sub
ject to constant demands for wage in
crease. Like other corporations the taxes
levied upon them have grown heavier
year by year. The cost of material used
by them has advanced, and as investors
no longer regard railroad securities as
favorably as they formerly did, bonds is
sued for extensions or betterments If sala-
BILE at all have been subject to steadily
increasing rates of interest.
1.-THE demand of the public for better
transportation facilities is insistent and
1t is estimated that for the single item
of steel cars. the railroads will have to
eXpend within the next few years at lea st
5000, 000, 600. With heavier rolling stock
more substantial roadway and stronger
bridges and trestles become necessary.
All these improvements in most cases
must be made long before there is re-
sulting increase in the density of traffic.
so that the only resource for the rail-
roads appears to lie in severe economies
and in a revision of freight and passenger
rates.
Small Increase Asked For
"The northern and eastern lines have
united in a petition TO the interstate COM
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