New Britain herald., 1915-02-06
STEADY IMPROVEMENT
 IN BUSINESS AFFAIRS
Barring Unforeseen Disaster, Pre-
 dCttd by Henry CIewS.
Especial to the Hcrald.)

New ork, Feb. 6.-ln spite of | worldwide uncertainty, business af- | fairs in the United States display con- | tlnued recuperative tendencies. The l improvement is slow, too slow to sat isfy American optimism, but each week shows a distinct gain both of sentiment and in the volume of trade. It is well perhaps that the gain is slow, inasmuch as it will thus prove more permanent, while premature conValescenCe would surely invite un- pleasant setbac11s. The SOundnesS of the present for ward movement is beyond question. It IS based chiefly upon the abun- dance of lonable funds at reasonable rates and a good demand for our agri- cultural products at generally satis- factory prices. Undoubtedly the farmers of this country are prosper ous, and this gratifying condition, coupled with the sound banking sit uation, is the prime source of our present national strength These are the factors enabling us to overcome ! heterogeneous which followed the war and to enduce the industrial paralysis 1 brought on by a prolonged era of 1 public unrest and hostility to big 1 business. They have, as vet by no
 
 i dition there are other factors scrv- 1 Ing to strengthen recuperative ten 1 dencies Chief of these is the po- i utlcal situation. Both congress and l the administration are now retlecting i the more reasonable attitude of the 1 public toward large corporations. 1 The abuses of the latter which so 1 aroused public opinion no longer exist. Our great industrial leaders are doing l their utmost to satisfy the public and | to give others besides themselves l fair chance. The fourth of March is l close at hand. Congress will then ad- 1 iOurn and the country will have a rest of at least nine months from new 1 legislation. The new congress which assemblies next December will be less hostile to business interests than the 1 one about to expire. The adminis- tratiOn shows a most welcome desire i to build up and not tear down big 1 business. Moreover, the political outlook for the next two years is for comparatively little new legislation, for the reason that the administra- 1 ton has practically completed it's | program of election promises. | The war of course is still a dominant factor in the financial situation on this side of the Atlantic It shows itself chiefly in the extraordinary ex- cess of exports over imports. Our | imports are declining sharply because l foreign sources of supply have been cut off by war, while our own de- mands are somewhat restricted by | business depression. The effect Of declining imports is shown in the | large losses of national revenue, to remedy which some temporary ac- ton on the part of the government may be necessary.
 Railroad Situation Improving.
 The American railroad situation shows improvement from various | sources. Traffic is increasing mod erately particularly at the west. Some roads are already feeling the benefit of the Interstate Commerce decision, and managers generally have been more hopeful since the latter event Better traffic and better rates, even to small extent, will materially eff feet railroad policy and result in their placing orders more freely for rails and other equipment, all of which must benefit the much de- pressed steel industry, which at | least seems to have turned from the ebb tide. The financial situation in New York | is eminently satisfactory, considering the strain through which it has l passed and the worldwide demorali- zation resulting from the war. More | and more foreign nations are turning l to this side for financial aid now | that the British government has re- | fused to permit new capital applica- | tions until its own requirements are amply satisfied. Other foreign gov l ernments have already placed very | unusual credits in this market which will be used for the purpose of fnan- l cing the extensive orders for war ma | terials coming to this country. An l other form of financing is presenting l itself to Americans, that is the float 1 ing of new enterprises in other parts | of the world which have until recent | ly been placed in London and other | European markets. It must be re- l membered that with such financing l comes the much needed orders for 1 goods. Our manufacturers will be eX- | ceedingly eager to secure the orders | for merchandise. Here is another sign 1 of the times--that the United States must take it's proper place in the | worlds markets.
 Setback Is Unexpected.
 So far as the local stock market