The Bridgeport evening farmer., 1913-10-31
GENERAL TRADE CONDITIONS
 AND BUSINESS FOREOAS
For November, 1913.

OOAAAAONSANS~S
 Bank.)
 At this date in 1911, business had just reached a fairly satisfactory basis after a two-year period of ups and downs Business then was practically averaging in all lines for twelve months and in NoveInb Der, 1913, the only considerable worry of the busi- ness man was the prospect Of tar1ff legislation under the new adninistra- ton. For the past year. prospective tariff revision downward has been the argunene used to offset all hopeful signs The revision has come, is in effect and, after the first shock is over, business will probably proceed in the usual manner. On the whole, it IS generally believed that the re- suits will be beneficial if for no other reason than that tariff discussion is ended for some years to come.
 The greatest concern about the new Income Tax seems to be the difficult ties in it's application. Bankers, cor porations, firms and individuals will find no trouble I'll following out the provisions of this act in all it's rami- fcations and complications. The best legal counsel will be necessary in many eases and lawyers at least will enjoy a considerable increase in busi- ness, both in the giving of counsel and in the conduct of the litigation which is bound to result. The cost to the
 
 probably be greater than the percent age of cost of collection of any other part of the National revenue. Under the law, a tremendous amount of money will be collected but it remains to be seen how large a percentage of this amount will be consumed in it's collection. It is fair to assume that not m ore than one-salf of the cost to the individual will be added to the Goyernmen actual net revenue.
 Currency legislation is now the all- absorbing topic at Washington and for that matter throughout the country. Numerous amendments have been made to the Glass bill which has pass ed the House and is now in the hands of the Senate. Other amendment have been urged by associations of business men and bankers and some further changes will no doubt be made before the bill can pass the Senate. It is the Presidents s desire that the bill pass at this session. Tn case it is amended in three or four important particulars, it will probably receive the general support of both parties. Otherwise, it will pass, if at all, strict ly as an administration measure. The 1 plan will be amended after it is in operation, if not before, and it would | seem vastly better to make the meas ure as perfect as possible before en- acting it into law. even if~that means It up the regular SSSS1On l in December.
 The financial interests of the coun- try as related to the purchase and sale of stocks and bonds are puzzled. It has proved impossible to get "bulP' started with any sort of good news. The best of stocks and bonds are going begging at prices which are ridiculous1y low and capi tai, generally, is as timid as a deer. It is ompissible to approach it from any angle without giving it an added fright. This situation applies fortu- nately only to the purchase and sale of securities and is affecting the busi- ness forld only slightly. if at all, as evidenced by the following figures sh owing actual business conditions.
 The clearance of banks for Septen- Der exceeded any previous total for the month except in 1909. Clearing outside of New York City set an en- tirely new record for the month, the increase over the best previous Sep tember being more than 300 million dollars.
 Building operations for September totaled TO million dollars for 16O cities compared with Q millions last year and CT millions for September 1911. These figures do not include New York City. in which September permits were only Il millions as com pared to lore than 4 millions for the same month last year. For the year to date, building permits in 16O cities outside of New York have been mill lion dollars greater than last year and 15 million dollars greater than the year before.
 During September, there occurred 1,203 business failures with total 1ia- bilities of 21 million dollars compared with l, ,124 failures in September, 1912, with liabilities amounting to over 16 million dollars. These reports on the total number and amount of business failures would prove misleading to business men were it not explained that each year the facilities for the of this information are inn proved and failures are included in this years report which might have been wholly overlooked a. year ago or five years ago. It is probable that the actual number of failures this year has been little, if any, greater than for the same period of 1912, although the figures compiled show a larger number of business casualties.
 Our foreign trade situation is so satisfactory that it needs no comment. We are pfling up handsome credit balance abroad every month through E our trenn end ous exports and, has been indicated in these reports, the flow of gold has started in our direc- ton and the movement of gold should be in our favor for the remainder of the year.
 The production of gold in the Transvaal has not yet returned to nor nal, the result of the July labor -trou- b1es being still apparent and the num- Der of men at work being much small CT than usual. Unless there is re- sumption of full operations this month, the gold production for the entire world will be less this year than last which will tend toward a decrease in commodity. prices.
 The average, price of all comm odi- ties is the highest since May, ., frac- ton lower than a year ago, although higher than for any previous October. Tho present high level was reached for the first time in April, 1912, and except for slight Up and down move nent, has been maintained since.
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