New Britain herald. [microfilm reel] (New Britain, Conn.) 1890-1976, 1915-06-05

likely to invest very freely in foreign
loans when many safer and more
profitable opportunities are to be
found at home. Even South Ameri-
ca at this time is a more inviting field
for investments than Europe. The
United States is the only important
country in the world at present ac-
cumulating savings. Nearly all the
other civilized nations of the earth are
destroying as much, il nor more, than
they are producing. American in
vestors should be able to secure good
returns on their investments for
some time to come.
Home Conditions Improve.
Home conditions continue to i'm
prove. Confidence, like most senti-
1nents, is infectious and its spread has
much to do with recuperation. Crops
are late owing to the backward season,
but the country is sure to have an
abundance of grain and cotton; much
OF which Europe will certainly want
at good prices war Or no war. In
dustrial conditions are improving.
The whole country has been economi-
zing severely for lengthy period,
more severely perhaps than the con-
traction in business justified. Our
cotton mills are steadily increasing
their output at slightly better prices,
and the great distributors of the West
all report growing confidence and ex-
pectations of a good trade next
autumn. Unless all signs fail Ameri-
can railroads will soon be obliged to
spend large sums for maintenance
and equipment. Every railroad in the
United States has practiced rigid
econ omies for several years, some
/ Dads having run up against the star
Tation point. Rolling stock is known
to be in poor condition. Heavy re-
pairs and replenishments are impera-
tive. Fortunately better rates and
better traffic prospects saved the rail-
roads from a serious crisis and put
them in better position to meet
such demands than for some time
K asst. The Pennsylvania awarded con-
tracts last month for s20,0Oo,o00 of
i'm portant railroads are known to be !
negotiating for large contracts. |
American railroads are estimated to |!
have spent about s500,000,000 for
equipment last year and nearly as
much more for general maintenance !
hence their importance as buyers of !
steel products can be appreciated. 1t !
is this improved outlook. plus foreign
OF cIers for munitions of war, which
has been at the bottom of recent
strength in most of the steel shars
Steel decision was a
further and highly important factor
in the advance. The wants of our
railroads are urgent and steel manu-
facturers are now looking forward to
more normal conditions.
No Weak Spots.
The stock market now had con-
siderable rest after the activity which
developed in April. During this
period no weak spots have developed .
and liquidation applied a good test to
he new level. In view of easy money
and the rising tendency OF confidence,
4 more active market seems proba BILE
with the trend towards price re-
'overies. 1t must be empnatically re-
eated however, that this is essen
tally war market: hence sharp
are inevita BILE. governed
very largely by events from day to
lay. For the time being the Steel
1ecision and the more hopeful out
ook in our relations with Germany
nave infused new strength into the
market.
HENRY CLEwS.