Financial and commercial review
The First National Bank of Birmingham comments on the recent Governors and Commissioners of Agriculture conference investigating the decrease in cotton sales price despite increased production. The Bank reports on the discouraging situation surrounding the government’s dissolution of the United States Steel Corporation. It is “simply absurd” to think that the Panic of 1907 was deliberately caused to acquire the Tennessee Coal, Iron, and Railroad Company. Birmingham citizens knew that before its acquisition, the Company’s stock did not have loanable value, and its credit was impaired. Since its acquisition, the Company aided in developing the local district, improvements which have been delayed due to the dissolution. Overall economic conditions in the district are favorable, although the upcoming presidential election could alter commercial and manufacturing activity.
Collection
Library of Congress Manuscript Division
Creation Date
1911-11-01