The Bridgeport evening farmer. [volume] (Bridgeport, Conn.) 1866-1917, 1917-01-08
REVIEW OF BUSINESS YEAR IN
new ENGLAND SHOWS IMPROVED
CONDITIONS AREN'T TEMPORARY
Peep Into 1917 by Experienced Observers Leads to Con-
clusion That Prosperity Is Lasting - Labor's
Status Bothered by Demands.

| Boston, Jan. 5.-Looking back a
year or more we realize that in this
| part of the country, and in others
| American industry began in the last
| half of 1915 to recover from the great
depression occasioned by the out
break Of the war, and during the last
quarter of the year the recovery was
so strong as to occasion the live!icsts
feelings regarding 1915. year ago
tnerc was great hopefulness; temper
ed, however, with a large measure OF
caution 1t was felt, on the whole,
that the times would continue excep-
tionally good so long as the war last
ed, but that when the end of the
conflict came all would be uncertain
ty.
1T Us interesting to note as we stand
On the verge Of 1917, that, while the
feeling regarding the war period is
unchanged, there is less doubt re-
garding post-bellum conditions. The
reason for this change of opinion can
best be shown by a. survey of the
events of 1916. What I have to say
is based primarily upon glance at
the industry and finance of New Eng
land; but the situation in this section
$1SOAASN~~ON~
in comparison with that in certain
other sections, is on the whole typ1-
cal of what has happened through
out the country. The West, and par
ticularly the Pacific Coast, has been
slower to feel the effect of the war
prosperity, but during the last half
of 1916 the improvement in the re-
moter parts of the country has been
pronounced. New England, by rea-
son of the wide distribution of her in
vestments, and of her ar-reaching in
dustrial relations, has had peculiar OPP
portunities to note this fact.
When the Year Began.
The year 1916 opened in this sec
ton with strong rising tide Of COM
mercial activity and industrial pros
perity, characterized by two features
Of special importance-the inadequacy
Of transportation facilities and the ap-
pearance of a strong demand on the
part of labor for higher wages and
better conditions, the last mentioned
phenomenon being particularly notice
able in connection with the munitions
industries. The contingencies raised
by these two sets Of facts were not
ignored. but their effect. on the whole,
was not depressing. Lack of trans
portation facilities and increasing la
Dor demands have characterized the
whole Of the last twelve months. but
in that period New England, together
with the United States as whole, has
done the largest business on record.
Even when a, large allowance is
made in the figures representing bank
clearings for the great rise in prices
the showing is exceedingly satisfac-
tory. Such centres of industry as Bos-
ton, Providence, Hartford, New Haven,
Worcester, Springfield, Portland, Fall
River, New Bedford, Lowell Holyoke,
Bangor Waterbury, to go no further,
have hummed with industry.
The Trade of 1915
All Of the leading New England in
dustries have been at top-notch
throughout the year, seasonal reac-
tons being far less marked than usual,
and in many cases practically absent.
The cotton manufacturing industry
began the. year with great strength,
the only exception being the print
cloth manufacturers. The COM
plants of the latter, however, had
that time the cotton mills felt fairly
esay regarding the raw material.
Though the consumption of the staple
was very much larger than twelve
months previously, it was believed that
the stock of cotton in this country
would be large enough to supply all
domestic and export requirements. es-
pecially in view of the reported in
crease in the cotton acreage. Contrary
to expectation, however, the 1916
crop was small, and the mills are
somewhat perplexed over the outlook
for 1917. While those on fine goods
and specialties are still getting excel
lent results, those on print-clOths are
not so profitable, the prices for their
products not being in proper relation
to the recent high quotations on the
raw material This is to-day the
weakest spot in the whole New Eng
land industrial situation.
The good results to the wool in
dustry here were cumulative. The
year opened exceedingly well, both for
the wool merchant and the wool man
ufacturer, the latter, to be sure, being
hampered by the dye-stuff problem
and the labor question. The uncon-
sumed stocks of wool in manufacture
ers hands were smaller than at the
corresponding period of 1915, and les
sened imports were looked for during
1916. After the turn of the year
there was . considerable advance in
the price o. wool all over the world
Boston, however, being the cheapest of
all markets. One effect, of this was
an earlier invasion than usual Of the
ern wool houses, and earlier buying
of wool on the sleeps back. Con-
sumption of wool in this country, in
short, was on an enormous scale,
though there had been very consid-
cradle diminution in the foreign mill
tary contracts in this country, the loss,
however, being made good by the larg-
est domestic buying in our history.
Briey, it was felt that 1916 would
break all records in the American wool
and wool manufacturing industries.
Though there have been some season.
al diminutions in activity, this expec-
tation appears to have been realized in
the fact of rising prices and increas-
ing difficulty of securing adequate sup
plies for manufacturing purposes.
Various Industries
Somewhat similar conditions have
characterized the boot and shoe indus
try At the beginning of the year
this industry was rapidly being re-
stored to normal conditions as re-