The Birmingham age-herald., 1920-12-14

depreciation of exposed and unfin- ished parts an dexpense involved in the reassemblage of men and mate rial.
 Waterway development should be conducted in the same efficient man. ner as any other business. Extensive Purchase
 of Rails Is Forecast 6N HERE is no more encouraging ll project in the steel trade than that held out by the best informed au- thorities of large demand for steel rails during the coming year. The Wall Street Journal, a very conserva- tive exponent of business, goes so far as to express confidence in the unpre- cedented" business in rails. This pa per says:
 It is believed that 1921 will witness an unprecedented demand for steel rails. The head of ono steel company says the mills will not have sufficient capacity to supply the demand. United States Steel, Bethlehem Steel, Lacka- wanna Steel and Midvale Steel, as the largest producers of steel rails, will be the companies to benefit from the revival of the rail indus try A brisk demand for rails means good buying of cars and To- comotives.
 It is the consensus of opinion in steel circles that by the spring of next year the steel industry will be flourishing.
 This district will share fully in the activity in rails through the mills at Ensley and Birmingham machine shops and foundries will come in for a lot of work for the railroads in- cident to the general programme of replacement that seems just ahead. The railroads have done without equipment about as long as was possi- ble. They have already gone exten- sively into the building of new cars and repair of old ones. New rails and locomotives must follow.
 With the increased earnings due to the higher freight rates, the railroads are about to find themselves in posi- tion to purchase the needed equip ment. The first quarter returns un- der the higher rates are about to be realized and, if as good as is generally expected, the large purchase of rails and locomotives expected by experts is bound to result.
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 According to contemporary, the Prince of Wales is poor. Still, we ven- ture to predict that he will not be any worse off after the period of read justment is over than he is now.
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 Having tried to read Green Man sions" without succeeding. we'd like to know what John Galsworthy meant by writing such corking introduc- ton to MT. Hudson's book.
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 Rents have been reduced in four large apartment houses in Springfield, Mass. The harassed flat dweIler dis cerns faint, but unmistakable rain- bow in the sky.
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 The rain yesterday prevented tho Shriners from parading. a form of ex- ercise dear to their hearts, but there were plenty of red fezzes bobbfng about indoors.
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 The international reform bureau plans to spend s1,00o,ooo within the next three years to make America virtuous. The appropriation is entire ly inadequate.
 Constantine returns to Greece with more than 200 trunks. The number of trips his representatives made to the pawnbrokers must have been exag- gerated.
 In the last 10 months 1,060 New York restaurants have been convicted of using dirty dishes. Probably places where the walters baw orders to the chef.
 As league advocates filter into Ma rion, the "irreconcilables" are once more viewing with alarm.
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 Major legislation" may be like major operations, followed by a long period of convalescence.
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 That eight-year-old chess marvel plays like a normal boy except when