The Bridgeport evening farmer., 1909-04-17
1 IMPORTANT DEVELOPMENTS OF WEEK IN STOCK MARKET

New York. April 1.-The improve nent in general business is undoubt- ed1y going on in a satisfactory man. ner. The big men of the country, the bankers and merchants recognize this. The improvement is more substantial than at any time since the panic of 1907. Bank clearingS show this to be true conclusive1y. There is a moder- ately confident tone prevailing busi- ness affairs generally, partly based up- on a spring demand for goods. The building trade stands out as the most active line of business so far this year. The explanation for this exceptional condition will be found in the low cost of materials, brought about through an increased efficiency of labor due to the christening effect of depression on the employed. It is estimated by BradStreet's that these two factors in the building trade are responsible for saving of from 20 per cent. to 25 per cent. in the cost of building opera t1onS this year as compared with years of general prosperity. In addition to the demand for structural steel which these building operations bring into the markeS. the railroads have been plac- ing orders much more freely. partlcu- larly for bridge work, and a number of orders for rails have been placed. Tho production of pig iron for a long time past has been excessive in view of the consumptive demand. but the figures of March production indicate
  cline. Consequently. consumption may soon catch up with production. Mean time, of course. the price of pig iron is very weak.
 during the week by the wheat and cot ton markets. The wheat corner start ed talk of Government action to pre- vent speculation in futures. Such ac- tion would be the worst possible. It would restrict business and would re- suit here as it did in Germany. where the anti-option laws and ant1-future laws hurt the farmer so that now eff forts are being made to repeal the laws. This has happened in the cotton states of this country, eight of which have anti-option laws. These laws ac- cording to one of the men who worked hardest to have them passed has cost the cotton planter $500, 100000 and this man is now trying to have the laws repealed.
 A wheat corner is a bad thing and works temporarily harm. If it is mere gamble, a speculative manipula- ton of prices. it is of only slight inn portance. It cannot be permanent, and will pass away leaving no trace. But if it is based upon knowledge and fore sight it will convert the deficiency of to-day into the abundance of the har- vest time. Farmers and dealers in both hemispheres are taking note and guiding themselves accordingly. Mil lions of acres will raise wheat which otherwise might have raised unwant- ed oats or rye. 1ho uedrlISSS Ol lO- day is the assurance of abundance hereafter Whoever would peg" prices by law would make as great a mistake as has been proved by Ger many, the Southern cotton states and in innumerab ble other instances fami- liar to the student of wealth.
 Wheat in April advanced from $1.19 a bushel on the first to s1.29 on the fifteenth. The highest price for many years was reached during the week on No contract wheat for export. This class closed on Thursday at $1.4O bushel free on board at New York.
 Cotton had a sensational rise and sold up S1 50 bale on Thursday. The trading was heavy The cause of the rise was the drought in the cotton belt and the fear of a short crop. The re- suit of the high prices for both cotton and corn will be increased acreage and a larger crop than expected even if conditions are bad later on.
 In the stock market prices advanced but slightly an average although some individual issues made gains. On Monday the average price was 2296 and on Thursday 122.46 Read ing was strong on the story that plans have been worked out for the separa- ton of the coal properties irrespective