New Britain herald., 1915-05-08

invested In foreign securities and
continuance Of this movement must
be anticipated. Our own home invest
1nents have also been very consider
able of late including as they do large
borrowings or extensions, such as
those by New York state, New York
Central New York, New Haven and
Hartford, Missouri, Kansas & Texas,
Baltimore e. Ohio.~and other issues
THE Pennsylvania has Just announced
o. new issue of s65. 900. 600. largely for
the purpose Of taking UP rhSturing
obligations These developmcnts are
proof of very satisfactory Investment
conditions in the United states; for
in addition to the great activity in
bonds last month, this market alb
So rbed with astonishing ease a large
amount of American securities re-
turned from abroad; all of which
means that the United States is get
ting out of debt at very favorable
opportunity.
Home Trade Improving.
Home trade improves verN slowly.
Confidence is we'll maintained and, IL
anything, shows a further strengthen
ing. Industries stimulated by war
contracts are of course exceedingly
active, and prosperity of this charac-
ter, though temporary, is welcome
while it lasts It's chief danger is that
it may be the basis of excessive spec
lation. The steel trade is in much
better condition than at the opening
of the year, though new orders are
coming in more slowly than expected.
Our textile trades are in fair condi-
ton. Demand for cotton goods has
improved somewhat, and prices are
steady to firm. Wooden goods have
been aided materially by war con-
tracts. The importation of textiles
has been checked by war; conse-
ouently the reduction i'm the tariff has
not had it's anticipated effect. A
movement, however, is already under
way for revision of the textiles sched-
ules, particularly those which were
most severely cut. I'm the building
trades there has been a partial re-
vival of activity, although this di-
vision of industry is still running be-
low normal. Business is at its best
in the Western grain belt. In the
South there is still more or less
sluggishness owing to the unsatisfac-
tory position of cotton. American
railroads appear to be doing fairly
1T roads being SAT. 100000. against
$4S,500.O 900 the year before. Attention
is now being turned to crop prospects. |
The season is a late one but indica-
lions point to a full acreage for all |
crops except cotton. 1t is practically |
certain that the war will cause A
large demand for American food pro-
ducts for some time to come. To that |
Axfapt oI1r farmers car, Diamond r,,ata 4
a liberal export demand at profitable |
prices. The deficiency in cotton in |
the South will be more than COM |
pensated for by the variety of other !
products grown. The wheat outlook |
estimating that this country will pro-
duce crop approaching a billion
bushels. compared with sol, 900, 900 |
bushels last year. The agricultural I
outlook in this country is all that |
could be reasonably desired So. too, |
is the mineral outlook. There is an |
enormous demand for copper. The |
demand for iron is bound to increase, |
and so also is that Of coal. and many |
of the minor minerals. The general |
export trade has been slowing down !
somewhat, owing to the close OF the !
season in grain and cotton, and our
imports have been showing partial
revival. The excess Of exports will.
therefore, run upon a small scale. de-
spite of war shipments, until the
autumn revives the demand for
wheat and cotton
Money situation> Satisfactory.
The money situation is as satisfao-