New Britain herald., 1917-06-09
EE r(1a
H. 0. P. Suits and Coats for Ladies and Misses Greatly Reduced.

introducing other economies. and this movement must necessarily 20 much further, unless the railrQads receive carly relief. In some Quarters there is much confidence that the reuuasted l6 per cent. will be granted. It cer- tainly should be granted. and granted without delay.
 A noticeable feature in business is the transference of activity from tho unnecessary to the necessary com modities. This is especially true of industries affected by war. such as fteel, copper, coal, petroleum, textiles. food transportation etc. It Is id directions that the prosperity 50 freely predicted and reasonably expected is likely to develop. Undoubtedly there will be intense activity in these lines throughout tho country as long as VIC continue to be the banker. the armory and the commissary for the Allies. Our steel industry Is again surpassing ell records for intense activity, and prices continue to. soar. Within . year pig iron has advanced from $22 to nearly $61, plates from 1 to 8.16 cents. sheets from 2.s0 to 7.50 cents and coke from $2.75 to $7.50. In the rough, prices doubled during the past twelve months. The leading concerns have already pledged them- selves to the government to a degree that makes it impossible to place irn- portant outside orders with any chance of early fulflment. Railroads are ordering necessary equipment more freely than for many months, but deliveries will be long postponed fot the reason just speciAed. Evi- dently the steel industry isN in for . long period of strenuous activity, large profits and consequent pros perity. The same is true of tho min- eral industries, and all other estab- lishments concerned directly or in- directly in the production of munl- tions. These expectations are based upon the remote contingency of peace. Intense activity prevails in the pe- troleum industry, and May was the record month for new enterprises, the number of new oil concerns reported in the United States being ss, with a total capital of $7o,0o0.0o0; while since the war began, the number of new concerns reported was s99.> with a combined capital of $S20,000, GOO. This shows extraordinary develop- ment. A similar state of affairs ex- ists in shipping. Twenty-four new cuICEpTlScS were the month, with a capital of over $47, 900, making a total since the war began of S2s2.0O0, 900. In the chemical industry, concerns with an aggregated capital of over $2O0. .000.- 900 have been announced since the outbreak of the war. There has been also tremendous expansion in the steel industry. probably greater than any other. although these figures are tions reported last month aggregated $484 100000, the largest total on rec- ord and 60 per cent. greater than a year ago. Since January 1st, the aggregate interpretations reported of not less than $1,o00.000 capital were $1,559, ,OOo, ,o00, or $45o,00o,0oo more than at the same time last year. 1t Is true that smaller amount of new capital Is going into such enterprises owing to the enormous absorption of savings necessitated by the govern ment loan; but these figures never theless, prove the extraordinary and continuous prosperity of the United States in these directions. Such con- 6itions mean continued activity in the stock market, especially in shares affected by the war The consequent imitation in values has by no means run its course, and a period of sha4p fluctuations accompanied with broad ening activity seems imminent.
 HENRY CLEwS.