The Birmingham age-herald., 1923-12-17
RAILROADS TO PUT BILLION IN EQU|PM ENT
Most Prosperous Times In History Of Freight Trans portation, Records Show. V0Yhme Increases
GREAT ORDERS FOR CARS BAROMETER OF CONDITION
Over 2,500 New Engines
 Bought-Americian Railway
 Association Says 1923 Re-
 cords 5O,O0O,OOO Loads

Reports published during the past week to the effect that railroads were laying off men in the Bir- mingham district due to poor busi- ness," were responsible for a number of inquiries made to The Age-Herald by persons who had been under the impression that the condition of the carriers was prosperous.
 While no executives of the various railroads entering Birmingham have headquarters in this city, and it was not possible to secure an authorative statement to this effect. it has been admitted locally that there has been some curtailment ordered, with the implication passed out that the rail- roads are not enjoying, or do not ex- pect to continue to enjoy. good busi- ness.
 If there is any suffering in rail- road circles due to lack of business, a survey of the general field fails to find it.
 The American Railway asso citation estimates that the total car loading for the year 1923 will exceed 50. .000.000--the largest number in the history of railroading in the United States. The gigantic total exceeds
 
 year that was made early last spring For the 3s weeks beginning March 10, and ending November 24, the American Railway association re- ports that the average has been one million cars per week. For 21 weeks the million mark was passed.
 The National City Bank of New York, in it's current bulletin on husi- ness conditions. points to these fig ures as highly significant of the condition of industry throughout the United States.
 Billion Expenditure.
 The American Railway association also Is sponsor for the statement that the railr@ds of the country are con- templating or have started the ex penditure of more than one billion dollars for new facilities for the pur- pose of keying up the nations transportation machine to handle a larger volume of traffic than was possible prior to 1922.
 The Southern Railway, one of the carriers mentioned in the poor busi- ness" reports, is engaged In expend- ing $5.000.000 at present, this fund being made available by the recent Notation of bond issue. The issue was subscribed during one forenoon, through a syndicate of New York
 
 which this transaction was con sumated is not taken in industrial circles to indicate that there is tre- pidation in Wall street regarding the future business outlook for the Southern. This line recently placed and Railroad company for 10000 tons of steel rail to be used in pur-. suance of the railroads double track ing program. Orders placed by the Louisville & Nashville railroad for rail to be rolled at Birmingham to- tailed 60,000 tons.
 The department of commerce at Washington announces that three times as many locomotives were pur- chased by American railroads during 1923 than during 1922, comparing the 11-month period ending November 30, with the same period last year. The total shipments of locomotives from American manufacturing plants during the II months of 1923 were 2.s60, of which 2.6s0 were for Amer ican railroads and 1900 for foreign roads. During the corresponding pe- rtod in 1922 the total was S62 loco motives for American use and 2o2 for export
 Call For Equipment.
 Recent inquiries reported by manu- lacturers have indicated an increase m the demand for railroad equipment at the present time. Thirty heavy engines of the Santa Fe type are be- ing built by the Baldwin Locomotive Works for the Grea. Northern. The Mobile Ohio Is inquiring for five engines The Wabash has placed an order for 1,750 cars. The Southern railway has ordered 1000 box cars from the American Car and Foundry company--a fact, however, which was disappointing to Birmingham indus trial interests, which had hoped that the business might be placed in the south, in accordance with the South ern's announced policy of making it's purchases in the territory which 1t serves.
 A still heavier program of railroad equipment buying has been indicated by recent inquiries, though it is ex- pected that caution will be displayed by the railroads because of the fear of possible unfavorable legislation during the forthcoming political year of 1924
 Secretary of the Treasury Mellon, in his annual report, expresses the belief that expansion will go forward as contemplated, if conditions remain stable. The chief unpleasant note which he finds in the railroad situa- tion is that the railroads are operat- ing on borrowed money. He says:
 'It may be that the country will not
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