Pine Bluff daily graphic., 1915-01-31
F'estus J. Wade of St. Louis Speaks Optimistically of
 Conditions.
NO STARTLING CHANGE
Having Reached Low Point, Business Had to Improve or Calamity Would Have Resulted, Says Widely
 kncWn Banker and Financier.

Hot Springs, Ark. Jan. 3O.-Festns J. Wade, president of the Merchants National bank, as we'll as being promi- nently identified with the Mercantile Trust company, two of St. LoIlS strong banking institutions, and the man who organized the S135 5,000,O0O pool tc relieve the cotton situation, in the course of an interview stated that genuine prosperity will only come to Missouri, Arkansas and all other states when railroads are granted higher freight rate and given the op- portunity to make a living.
 "The railroads represent 70 per cent of the commerce of the country declared Mr. Wade, who is sojournlng at the Arlington hotel, 'fand when there is no railroad development there is no prosperity. The state that rec cgnizes the fact that railroads should be encouraged and given an opportun- ity to make money is the state that will prosper, and the statesmen Who can also recognize these things IS the man the people will go to.
 Cotton has now about reached its staple price, bringing eight and nine cents, and that is very gratifying. Tn December, 1914, there were exported something like 100000, and in De- cember, 1913, 1,960O00, which, consid- ering the great war now raging Ill Europe, is not bad showing. But what the Southwest and especially the Mississippi valley most needs is m creased freight rates. Until that comes, we must expect to move for ward slowly, if at all. There will be no prosperity until the rallroads have 8 chance They employ the un- employed. More men and women are given employment, and then, too, the railroads, when making money, begln their purchases, and that is a mi saty big factor. I3ately railroads have been hampered by triangular opposl- ton in the form of congressional legls- lation, laws by state legislatures and decisions from state railroad commits sions, and the result has been that all railroad development has practically stopped.
 "The trouble with Arkansas is that people residing in the other states do not realize the fertility of the Arkan- sas soil. They believe or imagine Ithis is a hilly and barren country, and railroads should be encouraged Ill such a way that they will go into the north and bring the farmer there to this delightful climate and rich soil. 1 MT. Wade was asked if he shared the opinion of other men who had predicted a great wave of prosperity would sweep the country in the very linear future. While he believed times would get better, he did not anticipate any startling change in conditions.
 "We have reached the low point, he explained, "where we either had to have E. calamity or go upwards. The country is recovering from the de- pression. l believe it will be constant and slow. The close of the European war will not make any material differ ence. The purchasing of supplies IS as great now as it will be after the war closes, and l look to see Europe recover quickly
 And, in your opinion, how long will the war last?' MT. Wade was asked.
 The reply was given with smile
 Until it ends," he said. q cannot see any daylight until July or August
 It is a mere guess. Nobody can tell
 Then, as matte" of emphasis, ht added:
 "But let me reiterate and make il strong, that if the United States de- sires to see real prosperity let those who have control over railroads give