The Birmingham age-herald., 1915-05-04

however, Is not accurate Those who instituted and who have carried on the brass industry in that section so that 1t is now the greatest brass manufactur ing community in the United States never relied upon Connecticut copper They went at first to Baltimore. where the largest copper smelting plants in the United States were at one time estab- lished. They were probably the first American manufacturers to make use of the pool. They were also the first to unite in agreement upon the price they would pay for copper, and they did this.- although they were already in intense competition. At that time 1t was not unlawful so to act and if it had been in all probability the Connecticut brass in- dustry, which is now one of the greatest in the United States, would not have been developed to it's present great pro- portions.
 A Great Investment Capacity
 Ex-Senator Depew, who has been fa- miliar with the details of all of the great financing transactions with which the Vanderbilt railroad systems have been as sociated and who probably Is the only one now living who can speak from personal knowledge of that sensational transaction by means of which William H. Vanderbilt by the aid of J. P. Morgan. sold nearly $30000,000 of New York stocks to men of capital of London, now speaks of the recent transaction by means of which the Vanderbilts have been able to secure authority for an issue of bonds aggregating 100000 and the speedy marketing of these bonds as being from many points of view the most important, as it certainly was the greatest single financial transaction with which the New York Central company has in the past been identified.
 Others have spoken as Senator Depew had done respecting this transaction. Not withstanding it's magnitude it was all most instantly absorbed so that there re- mained only per cent of the entire is- sue for distribution among members of the syndicate The success of the trans action is in no small measure due to the labor and skill which characterized the relation of Thomas ". Lamont to it. He was obliged to explain to the public service commissioners not only of New York but of Ohio, the purpose which was behind the proposed issue. His ex- plantations were followed by critical ques- tioning of him. Then there came the ap- proval of these public service bodies.
 But in addition to this really monu- mental piece of financing it was found not only possible but easy at the same time to market an issue of SAC, GOO of notes of the Baltimore and Ohio Railroad company at an interest rate of Az per cent. These two transactions are spoken of as visible demonstrations of the fact that these are better days for the rail- road corporations than were those in any recent calendar year. Furthermore, the success of these transactions indirectly, but none the less effectively, empha sizes the gradual but certain return to busi- ness confidence, and. therefore, business prosperity.
 A Fifty Million Dollar Exhibition
 Dr. Eben K. Olcott formerly president of the American Association of Civil Engineers, in which profession he achieved greatly not only in the United States, but in South America. returned yesterday from a visit to the Pacific coast and to the San Francisco exposi- tion Dr. Olcott is familiar with great expositions. He was chief among the or ganizers of the Hudson Fulton ceremony in New York city and he has visited every national exposition since the Philadelphia centennial, sometimes in his professional character.
 He is persuaded that the San Fran cisco exposition will, unlike some of the others that have been held, react instantly and favorably upon the com mercial and industrial development of the Pacific coast Philadelphia, Buffalo and Chicago were long time recovering great expositions. But the San Francisco exposition, Dr. Olcott says, is already stimulating commerce and industry upon