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Show I No Boom, but Steady Consumption Consump-tion and Demand Create Prosperity All Over. ELECTRIFICATION OF RAILROADS NEXT STEP South African Gold Production Produc-tion Breaks Record; How "Easy Marks" Are Listed. BY PRESTON C. ADAMS. By Leased Wire to Tlio Tribune. NEW YORK, Anrll 22 It may be thought I dwell too much on tlio Keuorally prosperous condition of Iho country In these letters. But It Is si pretty Mx question ques-tion which interests us alii and then prosperity Is a rlhl nood thine to think about. So I'll risk another paragraph or so on conditions. Every man of big affairs who travels with his eyes open through the west and south comes back with the same story of sound bijslness conditions, nothing in the wav of a boom, be It understood, but a good steady consumption demand, people peo-ple with money enough to buy what they need and pay for It. brlsht crop outlook and altogether a nlcnsant story to hear. President Frank A. Vundorlip of the National City bank, for Instance, after a ' trip covering nearly every state in the south and west, comes home a pronounced optimist. , President B. F. Yoakum of the Frisco lines tells the same tale, and so It goes right down the line. The only discordant note comes from the purl Ions of Wall street. The common people arc cither too busy, too wise, or both, to go in for gambling, so the stock and cotton brokers arc compelled to play among themselves, ami everybody knows there Is no money In any game where the plavers are all professionals. The lamb is especially essential for a pleasant and profitable gamble In stock, cotton or grain. . , , , . , , Taking It by and largo, it Is doubtful if the country as a whole ever was much better off than it is now. Railroad Improvements. One of the interesting developments in American transportation Is the slow but i steady electrification of I he steam rail roads. All the big systems which enter w York are now using electricity so far as their terminal divisions arc concerned, and arc gradually extending the zono of electrically-run trains. "The electrification of steam roads is vet somewhat In the experimental .stage." a New Haven official is quoted saying, I I "but within a year you will see the New Haven electrically equipped as far as Tfew Haven and possibly work started on the Boston end. Our engineers are now working on the question of the transportation transpor-tation of freight by electricity, with very good results. "While the . New Haven may not be showing any substantial reduction In operating op-erating costs between New York and Stamford by use of electricity as compared com-pared with steam, the general results to date have more than justified the expenditure. expen-diture. I think there will bo a wonderful wonder-ful progress made In tne application of electricity to steam roads within the next few years, and thfs will show some rapid changes In the conduct of the railroad rail-road business of the country." Lists' of "Easy Marks." When the fodera'l authorities raid questionable ques-tionable concerns engaged In the selling of mining and other stocks they frequently fre-quently find Hats containing thousands upon thousands of names and addresses. Surprise is sometimes expressed that such collections of possible dupes could have been gathered. Those familiar with the workings of the financial districts know fairly well how these lists como into being. There arc men who make a regular business of supplying sup-plying these "sucker" lists at so much - per thousand. The names are collected lh devious waj's. Those who are ever Induced to reply to any of the glaring advertisements of promoters pro-moters are forever after registered as possible easy marks and continue to receive re-ceive the most amazing offers from swind-, swind-, lers. One of the best lists in existence has been enriched by names supplied by a paper which makes a specialty of giving giv-ing advice to investors. These names are vended, it is said, at 10 cents each, and the seller derives a nice little Income In-come therefrom. When one concern Is forced out of business there is usually keen competition for its mall list. Thus the more energetic promoters can In course of time compile lists as long as their customers are short of sense. Gold Production Heavy. In five years 51.C20.000.000 bonds, notes and equipment obligations have matured In this country, Of this huge total short term notes have contributed fully half 5S70.000.000 to be exact. Bonds have been responsible for somewhat under un-der J540.000.000.- A feature of the 11)09-1910 11)09-1910 financing was the extensive Installments Install-ments that had to be paid on stock Issues, Is-sues, whereas scarcely one company Is now receiving funds under such a scheme. The absorption of new stock issues lias been so Indifferent that borrowers have cither contrived to place bonds or have resorted to short term notes. As compared com-pared with former years, 1911 and 1912 bring few maturing obligations. The production of gold In South Africa last month broke all records. The yield of 676,065 ounces is comfortably abovo the previous high figure. 660,6-13, recorded re-corded In December, 190S. when the total was swelled by the customary cleaning up at the end of the year. In January 91" this year the yield amounted to 651,027 ounces, easilv a high record for that month, while Fcbrunry also contributed the largest total (610,-828 (610,-828 ounces) for that short month. For the .first, quarter of 1911. therefore, the production has totaled 1.937.920 ounces, against 1.781,109 In 1910, 1.7S7.S31 In 1909 and .1.677,160 in 190S. If, this rate be maintained the grand total for 1911 will easily eclipse that for any previous twelve months. The value may on this occasion approach $1,75,000,000. The whole of the Hand's output, is regularly consigned to Txndon by the weekly mall steamer from . Cape Town and Is offered each Monday in the open market, from whence It goes to reinforce tho bank reserves of England Eng-land or France, or Germany, or the 1 United Slates, or other countries. |