The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1914-07-15
Business Has Bright
Hopes for Future

nationwide Inquiry us to business
conditions. conducted by the New York
Times and the Philadelphia Public
Ledger. results in interesting compar-
isons between the condition of bust
ness Tor the six months ending June,
80 and tho corresponding period of
1913 Bankers, leading manufacturers,
heads of leading railroads. merchants
and correspondents In all sections OF
tho State furnish the information from
which the Times deduces tho fact
that there is apparent. running
through the entire mass of reports. a
feeling Of confidence In the immediate
future"
This is not the pcrfunctory OPP
timism that is easily tapped" it says.
but rings true and is supported by
the conditions cited in the replies
Busincrs Men Confident.
Beginning with tho record breaking
crops now an old story. the Times's
resume COOS on to state that the gen
eral feeling of confidence is most
marked among the business men. who
Will first feel the effects of these en-
penditures." reference being to the
expenditures of the farmer Except in
spots the business men report no fall
ing Oft in the business of this year as
compared with 1913 "and in some cases
they report an Improvement. go that
they are in no slough of despond out
of which to be dragged"
Increase in Traffic Expected.
The railroads. as a rule, also expect
a big increase over last years bust
ness when the crops begin to move.
They. with the steel trade. have suf-
fered most of all those who havo less
business to report for tho last six
months than In 1913. Traffic showed
falling off owing to the slowing down
in some lines OF business. They are
ityNu 1,n re
farmer. as we'll as the handling Of his
crops. to cause a considerable increase
In traffic.
las 10 their own reports of results
for the half year. they are generally
down for causes that arc we'll known.
and have been perpleXinG them for
long, such as constantly growing
taxes, higher wages. and the cost OF
changes imposed by Legislation. Con-
struction work has been kept TO a
minimum and the number OF employees
has dropped materially.
The railroad men themselves say
nothing about the hoped for increase
in Eastern freight rates but this is
matter frequently mentioned by mer-
chants and manufacturers as needed
10 give added impetus to the better
mcnt they forescc.
The pig iron industry has dropped
off with the steel business, and as
yet shows no signs Of Improvement,
but the steel trade took Il turn for the
better just as ii entered the new half
year. The Steel Corporation showed
n gain IN untitled tonnage on June
so 10: the first time since February.
and the conservative Iron Age re-
marked that the corner in the steel
industry had apparently been turned
ut last. This change is reflected In
the optimism of the equipment con
Germs and the car builders, who look
INN cd ut irnp
business"
In Virginia.
The following letter from President
Morgan. of the Virginia Carolina
Chemical Company, gives one source
of the Timcs's information concerning
business in Virginia:
Our business for the first six months
OF 1914 was materially better than in
the same period for 1918. The com
paratively large crops of cotton and
tobacco grown in the territory be-
tween the Potomac and the Mississippi
and the high prices at which these
! farm products sold. stimulated a good.
active, hut conservative business The
conditions of credit were materially
I improved. money more PLENTIFUL and
| the bankers exercised careful discre-
| tion In extending credits. However,
very few new business enterprises
were undertaken in the territory.
4 w q ptS IN inc lOSl nan Oh 1919 unueT
very favorable crop conditions with
| prospects good, both to the con-
| dition of the growing crops and the
| prospects for reasonably remunerative
prices. This will naturally stimulate
| n more active business: but, in my
| opinion. we cannot look for many new
enterprises or expansion and rapid
| growth of trade until tn" country
! gets more nearly settled down and un-
| derstands just how the now laws al
| ready passed by our national legisla-
| ture, and the prospective laws that
are Tow being considered, will affect
general business. Early settlement Of
! these matters would let the business
| public understand where they are and
! encourage them to enl bark. in my
i~opinion In new enterprises. and slim
ulate activity all along the business
! horizon.
| "S. T. MORGAN.
President Virginia Carolina Chem
icai Company. Richmond. Va"