New Britain herald., 1916-02-26
SLIGHT ABATEMENT
 OF BIG BUSINESS
A CleWs Sees Bright Outlook, How.
 eVer-CropS May Be Small
Especial to tho Herald,

New York, Feb. 26-In spite of ex- ceedlngly stimulating home conditions, the stock market exhibited a depressed undertone which at times developed Into general weakness. The chief req son for renewed selling was the unsat- 1sfactory drift of our relations with Germany; the fear of a split between congress and President Wilson, and the steady pressure of foreign liquida- ton of American securities in this market
 In home trade there is slight abate- ment of the remarkable activity which has been going on for several months. Western business continues active, and railroad earnings although somewhat affected by the congestion of traffic are making exceedingly satisfactory reports. Bank clearings also reflect general activity, the total for the third week in February showing an increase of over fifty per cent. compared with a year ago and the gain being we'll dis tributed over all sections of the coun- try. Our steel industry is phenomenaIly active. Prices continue to soar and manufacturers and buyers alike ap- pear perplexed over an extra ordin-
 
 ahead to the end of the year at high .ly profitable prices and indications point to continued pressure of or ders. Railroads are in a position to buy more freely, and are placing 1ib- eral orders for equipment of all kinds. In some cases the delay in traffic has been owing to inadequate rolling stock, and this deficiency will soon be rectified. It is quite within the range of probability also that the railroads will put into effect long contemplate 1 improvem ents. What with improved l earnings, and a more reasonable at 1 titude of the public towards our great ! transportation companies, the chief l restraint upon railroad development has been somewhat dissipated, and the outlook is really better than it has been for several years. The chief cloud now overhanging railroad man. agers is the labor problem. The de- mands of the employees are now being more or less discussd in the open, and there is a fair chance of a satisfactory being reached without any se- rious conflict as at one time feared. l The labor situation in the coal regions ] also appears less threatening, the inn pression being that by means of arbi-
  3verted Less War Work. i There has been falling off in new I foreign orders for war munitions and i few repeat orders are s aei4ae- received. Tf1isz was not unex- t oerted for the reason that the Allies c nave already provided themselves with n facilities for producing munitions up- f. sla an enormous scale at much lower o cost than in the United States. Hence IT orth our manufacturers must expect t. ewer foreign orders, though it is not r ikely that they will altogether cease. 1 t ;teeI manufacturers anticipate a con- i inued supply of orders from the rail- r pads, from ship builders and from t 'ur forthcoming preparedness move l rrent. which it is probable will require C Iberal expenditures. The home build S lg trade has also revived in a remark t ble degree and this means a large V consumption of iron and steel in con- C tructiOn work. In many of the sub- 1 i idiary steel industries there is also a harp trade revival. Other branches f the metal trade are having a gener- us share in the boom, notably copper, l i he demand for which continues upon z n unexampled scale in spite of the | aet that prices are the highest on rec I'd in modern times. AS result, the ] o ecurities of the steel, copper, other :, netallc and the chemical industries - ave shown more strength than other T. ections of the security markets. :,
 Foreign Trade Changes. IT Our foreign trade reflects changing |