The Bridgeport evening farmer., 1917-06-12
of Finance finance

ting out many passenger trains and introducing other economies, and this movement must necessarily go much farther, unless the railroads receive early relief. In some quarters there is much confidence that the request ed 15 per cent. will be granted. It certainly should be granted, and granted without delay.
 A noticeable feature in business is the transference of activity from the unnecessary to the necessary com1 modities. This is especially true of industries affected by war, such as steel, copper, coal, petroleum, tex tiles, food, transportation, etc. It is in these directions that the prosper ity so freely predicted and reasonably expected is likely to develop. Unr doubtedly there will be intense activ- ity in these lines throughout the country, as long as we continue to be the banker, the arn1ory and the com missary for the Allies. Our steel in- dustry is again surpassing all records for intense activity, and prices con- tinue to soar. Within a year pig iron has advanced from $22 to nearly $51, plates from to 8.16 cents, sheets from 2.90 to 7.50 cents and coke from $2.75 to S7.50. In the rough, prices doubled during the past twelve months. The leading concerns have already pledged themselves to the government to degree that makes it impossible to place important out side orders with any chance of early fulfilment- Railroads are ordering necessary equipment more freely than for many months, but deliver ies will be long postponed for the reason just specified. Evidently the steel n iS i1 ad of strenuous activity, large profits and consequent prosperity. The same , is true of the mineral industries, and all other establishments concerned directly or indirectly in the produc- tion of munitions These expecta tions are based upon the remote con tingency of peace. Intense activity prevails in the petroleum industry, and May was the record month for new enterprises, the number of new | oil concerns reported in the United
 States being 68, with total capital
 of $70,0O0,0O0; while since the war
 began, the number of new concerns
 reported was 699, with a combined
 capital of 82O,000,000. This shows extraordinary development. A simi-
 lar state of affairs exists in shipping
 Twenty-four new enterprises were
 announced during the month, with a capital of over $47,O00,OOO, making
 a total since the war began of $232,- | 100000. In the chemical industry,
 concerns with an aggregated capital
 of $2O0,000,000. have been announced
 since the outbreak. of the war. There
 has been also a tremendous expan- sion in the steel industry, probably greater than any other, although I these figures are not attainable. The 1 new interpretations reported last
 month aggregated $484,OO0,OOO the
 largest total on record and 60 per
 cent. greater than a year ago. Since January list, the aggregate incorpora-
 tions reported of not less than $1,-
 000,000 capital were $1,559, 100000,
 or $450, 100000 more than at the same time last year. It is true that
 a smaller amount of new capital is
 going into new enterprises owing to
 the enormous absorption of savings
 necessitated by the government loan;
 but these figures, nevertheless, prove
 the extraordinary and continuous prosperity of the United States in these directions. Such conditions
 mean continued activity in the stock
 market, especially in shares affected | by the war. The consequent infla-
 tion in values has by no means run
 it's course, and a period of sharp fluc-
 tuations accompanied with broaden ing activity seems imminent