New Britain herald., 1915-06-19
FINANCIAL NEWS


 from being seriously strained. cannot be said of some of th< contestants; and if the war A one of exhaustion, which seera@ probable. these are fActorH wti1 play an important and perhap< cisiye part.
 An Importnt Fnctor.
 For some time to come sterli& change must continue an irnp@ factor in this market, It's cour<< have either a depressing or e q lating effect, according to ci< stances. The beiligerents. esp1| Great Britain, are buying enorI quantities of war material in country for which they cannot p&| selling us our usual quota Of pean products. mainly because have not such to sell, except tn sened quantities. Payment to u| what is due is therefore irnpoasihI| present. except by sending gold securities. The former we 6o want, because our supply is but@ some, and Imports since Januarx have been burdensome, and iuu have been about sfl1,DO0, 1000, cluding the entire $80,O00, GOO mxn| Canada since the war began. enormous gold supply must eventf. have a pronounced infationarv &< upon values in this country. f!t is already remarkably cheap f0 x borrowers Our barking poalti61 exceptionally sound, ana under new Federal Reserve System Wa in an excellent position to lend gfn there being no reason whatevcr we should not extend ffberal rt1 to Europe if necessary. on tft 0t hand, further imports or gold prove an embarrassment Of ffr' snd no little pressure is being brou to bear to induce foreign hoIdnrf sell a portion of their securities ir 4 market. 1t is understood that ls. amounts of such are on deposit h fer foreign owners who cannot he duced to sell. Nevertheless. with expectation of enormous riotafion> foreign loans. it would seem an t| further distribution Of theee ho}f{, was inevitable. If British capital should desire to take their own , tfonal loans when offered they wo find ready purchasers for tt American investments in this mari or they could costly be utilized collateral. There is an abundancr funds here awaiting just such m portunity. Shrewd American inv tors will doubtless prefer the cha of buying the securities of well abolished domestic Corporations making new ventures at this tin Hence while there is possibility further sales for foreign account. situation is such that they wo, probably be quickly absorbed. pecially in view of the infiatiou. tendencies above referred to. Un< present conditions the best stockr p carry themselves and pay a handed profit on borrowed capital.
 Home Conditions Tmprovfnx.
 Commercial conditions at hn1 show limiteds but steady improvsm~ Our crops are somewhat bncirwx. but the outlook is satisractory. r
 
 steel industry shows a decided 8t and is now estimated to be wcrkinR about 80 per cent of capacity, asAx1 7s per cent. a month ago. this lArxI on account of foreign orders for n' nitions and railroad eQufpmsntl a mestic orders are also coming rather more freely. Prices ere kti ening, and the building trade ( hibits symptoms of recovery. Fafiv1 are few and collections fairly fo< The scarcity of skilled labor se q veloping in certain lines, and no lief is to be expected from innnses ton, which is practically suspend for obvious reasons. Railroad ear ings show rather discouragfng retur, Bank clearfnss for the first haif June were likewise discourarfnF. as much as they show a material smaller volume of trade than m | same period fast year. Nevarxhmlo the general situation may be no sidered reasonably hopeful; esnanisl in view of the worldwide derant merits.
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