Harrisburg telegraph. [volume] (Harrisburg, Pa.) 1879-1948, 1914-07-31
BY LOUIS
Editor The Financial World

Editor The Financial World
1t is h unexpected happenings
which usually turn awry all human
calculations. Over on the continent
industrial conditions were on the mend
and in we'll informed circles the belief
WAS expanding that a period of better
business was in the process of deVel-
opment. The constant rise in English
Consols until last week was considered
a direct and convincing reflection of
steady improvement. Now all these
prospects have darkened by the threat
ening cloud of a far-reaching war in
which all the great empires in Europe
may become involved. Var is hell, but
hell would be nothing like what we
have mentally pictured, compared to
the holocaust and the misery which "a
conflict between Austria. Servia, Ger
many, France. Russia, Italy and Eng
land would bring to the people of
those nations, and indirectly to the en-
tire world.
Racial aspirations more than poll
tics is n train of powder which now
endanger's the worlds peace. For
years Austria has beer trying to de-
velop her empire toward the Adriatic
and the Mediterranean Seas, but has
found an unsurmountable obstacle in
the little Balkan States. Russian, bot
tiled up as she is, has also fondly look
ed in the direction of the Mediter-
ranean, as a logical egress for her I'M
c~ontrollable ambition for expansion.
The two giants, bending their efforts
in the n direction, seem now to he on
the brink of fighting for this suprem-
acy, be the cost what it may. Servia
is but the pawn and the preteXt. Only
Germany n England, if they agree
and stamp their foot dow upon an
open conflict, can prevent the clash in
arms. the echo of which would reVer-
berate throughout the civilized world.
If the inevitable must come, and war
does actually ensue, the United States
would be the least affected. Tenn
porarily, as a result of the conflict, we
might prosper, for our country would
become the bread basket of the war
ring nations; we would have to supply
the nations involved, their armies and
people with the bulk of their food
stuffs. This would occasion consider
able stimulus to our industrial and
agricultural conditions, keep the looms
of u mills working busily, and as for
the steel trade, war, is wal it must be,
would bring large orders for new ar
maments. SO the present, as usual, is
a case where there arises no i'll Wind
but which does not blow some good
for some one.
\ heated trade war among oil com
panies has proven a blessing for own
crs automobiles. Where gasoline but
a year ago was selling around 20 and
20 cents a gallon, the price has been
cut and cut again. until now in some
places gasoline can be bought as low
at II cents. and | have seen places in
Jersey where it is advertised for as low
at II cents per gallon. Burt by the
owners of oil stocks the price war be-
tween the rival companies is not view
ed with the same equanimity, as it has
cut profits in twain and for the time
being has reduced to nil all prospects
of increased dividends. In fact, with
the stockholders of some of the COM
panies these difficulties. has caused
fears for the present dividends if the
price war continues very much longer.
AS | predicted some weeks ago in these
columns, the proposed reorganization
plan for the Rock Island Company,