New Britain herald., 1917-11-03

$2o,ooo. Ooo.ooo; and their takink oyer by the government is transaction al- together too hugo to receive serious consideration in times like the pres- ent.
 The Irregularities in the stock mar-t ket were only such as must be exe pected in these troublous times. Se- were declines occurred in many of tlaoy' leading issues, which in addition t1S the uncertainties referred to ab0vns were aggravated by the disturbancosl in Canada, arising from temporarya interruption of gold shipments an6H heavy selling attributed to GermaMff ff sources. The setback in Italy also de.E pressed the market on the theory. thN1s it will prolong the war. Trade an44 industry are still more or less cons fused by the expansion of gov6EMN3 ment control, which has aireak4XY reached 8 vast extent. The goverlAS ment is rapidly applying its price fix-f ing policy, which meets with generAal public approval. Even merchAnt
 and manufacturers are in favor 094 the present policy of stabilizing priceof and stopping profiteering. The gOy~A ernment is also succeeding in it's O4sA forts to regulate the distribution 0eE food products and certain other stapl
 industries, while the food con1ervAS3 tion campaign is bringing importan
 economies. Needless to say, 'busines
 men arc facing and solving manyI highly perplexing questions, though. not without considerable anxiety.l Nevertheless, the volume of trAd0ti generally speaking, continues exceed N ingly active. The tremendous de.a mands created by the war and whtclt will continue with the vast expendi1; lures of the Liberty Loan, prevents any decline in the grand total of int dustry. A few of the less necessar3.a lines of work are feeling the divert 1 sion, but the country as a whole Ns still enjoying prosperity, with occas, ] sional depression in spots It shoul Ni be remembered that not all of thA ] vast amounts now expended becausls of the war will be wasted.
 The outlay for ships over $500, O00.- 900, will be a good investment Ex-@ penditures for new shipyards and mu-s I 1ition factories will have considerabl6s permanent value and the enormouA sums spent for feeding and clothing armies Is simply shifting of expendi- lures and is not entire loss as most of the food and clothing would be- purchased anyhow. v
 An active and fluctuating market must be anticipated for some time to- come. Liquidation has been severe and has apparently not yet run lt4a course, though rallies must occur from time to time. In many case6 prices have declined to & level entirc- ly disproportionate to dividend prOs4 poets, which have not been seriously impaired except in 8 few instances. The Stock Exchange has taken pru-E dent precautions against aggravatinf the situation by artificial selling, and there is no doubt that the situation has been improved by the liquidations; of the last few weeks. On the other hand, the end of the war is not in5 sight and it's terrific wastage. accom-s panied by the issue of such enormoIsN obligations, is depressing factor. Thus fan the credits which we have i. granted the Allies aggregate over $8,- < 5OO,0OO,0OO, of which $1,86O. .OOO.OOV z went to Great Britain. Practically aitsr of these vast sums will be expenoed in this country for munitions.
 HENRY CLEWS.