Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1915-02-27

| should not be taken seriously. After a
careful review OF general trade condi-
uation is decidedly no carnival. and is
| iar from boom. AS our wisest men
see II we are experiencing a steady and
| dependable Improvement in conditions.
ana the end of the year should find us
enjoying normal times and reasonable
| prosperity"
COTTON EXPORTS ARE
LARGER THAN LAST YEAR
| The letter says:
Cotton exports in January were
l,3t2.uO0 bales, compared with 1862 900
paleS n year ago, and imports of cotton
were $4,000 bales, compared with 10000
DalcS year ago. Domestic consume
tioh OF cotton was only $4,000 bales
compared with 5l7 900 bales q wear ago
and stocks of cotton in manufacturing
establishments on February were only
i.olo,o00 bales. against .765. 600 bales
= year ago. Active cotton spindles dur
| ing January numbered 30,565. 900 COM
pared with Sl.u9S.000 n year ago. We
are not using the usual amount OF our
! own cotton. but our cotton exports are
ut present. above average
Inc heavier interstate movement Of
goods. coupled with record exports OF
wheat, cotton and manufactured goods
| is helping the railroads. The last com
plcte statement available. being that OF
December. shows gross earnings of
FZ"l ,ouo,noo, compared with S257 900 OOc
I year ago decrease of nearly S26-
100000. or almost 10 per cent This
makes the total decline of gross earn
inSs Tor the year 1914 about S22O. 900. :
"oo. In 1908, we made :, gain In rail
road gross earnings over the preyjous
year OF SRS2, 900; in 1910 of s24O .
ooe,9ee; in 1912 over 1911, OF S22OOOO :
600 in 1913. OF $4,000. 900. In con
siderlnE these returns. we must remcm-
per that in less than ten years our
railroad mileage has Increased 20 per
cent, and equipment per mile has In
creased in even larger proportion Oper-
atihS expenses. taxes, etc. have con-
tinued TO increase. the wage item show
hlS notable advance. When the full
chtcts OF the Eastern freight rate ad-
vance have been felt. the railroads ar-
Iectcd will show an improved nositiop
IN the matter of earnings. both gross
! ana net, but the general prosperity of
"Ii the railroads hinges very largely
upon the action taken following the
r ne"FInE winch begins on March at
chicago by the Interstate Commerce
commission in the matter of proposed
freight rate increases on lines west OF
! Chicago.
NEED OF SOtrriWEST'ERN
RAILWAYS IS ACUTE
Hearings will continue at least until
! April and further time may be ncces-
sarN II is believed that, in View Of
conditions, the commission will make
every effort 10 render an early decision
| in order that the Western and South
western roads may be placed in "a no.
sitlon TO finance improvements and to
refund, on favorable terms. maturing
obligations. The needs OF the South
western roads arc particularly acute
seven OF the nine principal Southwest
crn lines being sadly in need of addi-
tional revenues. That the Interstate
commerce Commission fully realizes
the gravity OF the present situation
may be taken foT' granted and this Will
assure an early decision in the freight
rate matter.
while in the tremendous increase in
! exports of manufactured goods, we find
! the greatest reason for business en-
enlargement, there have appeared
within month many factors evil
! dancing Il steadily but surely improv-
! ing situation. Taking out of Sour De-
! ccmber exports Of manufactured goods
! almost ut random 100000. 900 worth
of articles we find that i'm that $50.
600. we exported nearly 100000 600 worth
| of American labor. When we export in
Il finished article Il certain percentage
of American labor. we are losing moth
| ing and gaining everything. This ex-
port item OF sG.o00.000 In labor is worth
more TO us than the export Of 100000
| 900 worth Of wheat, as we have in the
| manufactured export. exported the fac
| tory labor on the finished article, as
we'll as the labor Of the mine. the field
| or the forest in the raw material, which
| entered into the manufactured article.
! 1t is not in the volume of business hut
in the nature OF the business we are
! doing that we should find great COM
| fort and satisfaction. In bur domestic
and foreign sales of the past sixty days,
we find an absolute assurance that con-
| diticns have been steadily improving
| since December | with good pros
pcct of the Improvement continuing
throughout the year.