New Britain herald. [microfilm reel] (New Britain, Conn.) 1890-1976, 1918-12-09

c1es men discharged from the army
end munition plants are in the ma
jority Of cases readily finding employ
ment in other lines, thanks to the gem
eral activity in business. Those find
ing the greatest difficulties in replace
ment are men in the higher positions.
also former office employees. Cans
cellationS are often making trouble,
and losses are being incurred by i'm
dustrial concerns having war con-
tracts, especially those caught with
Dig stocks OF raw materials bought al
high prices to fill contracts. Liduida-
ton In many such instances will UNI
doubtedly be necessary; but colIective4
ly this factor is not of serious i'm
portance, and often it is offset by the
revival of long-suspended enterprises.
NOBODY preSumeS to instruct the cow
eminent with it's superior Sources gof
information as to what 1t should do
In such a situation; but the interests
OF commerce. industry and labor will
be greatly prospered by as rapid a re-
turn to the peace basis as possible II
the government wishes to avoid popu-
lar discomfort as it probably does, it
Will reduce the army as rapidly as
leaSlDie, keeping no more men in F1u-
rope than are absolutely necessary for
doing our share in establishing a last
ing peace. 1t will also make an even
more strenuous effort at lowering bur
densome taxes than it has hitherto
done, If it wishes to avoid embarrass-
Ing criticism. Not few business con-
Germs are feeling the injurious effects
or excessive war taxes, which cripple
enterprise, delay needed improve
ments and curtail the rewards of Ia
Dor The country will welcome the
presidents early return, if only that
he may give much-needed attention to
these particularly urgent problems.
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Activities in the financial district
continue somewhat impeded by the
conditions referred to. Time money
is relatively scarce, although some re-
lief was furnished by action of the
bankers money committee in re-
storing the former marginal basis Of
Stock Exchange loans. This action
Will tend to increase the supply of
funds i'll the financial district. At the
same time no very positive relief can
be expected either here or abroad as
long as war requirements continue so
heavy. There is no doubt that con-
this center if war funds were raised
by regular weekly issues of Treasury
certificates instead of the more vio-
lent method of bond issues, which
strain and derange our entire none
tary system, not to speak of the
wasteful excitement which accom-
panies campaign methods. If such g.
plan were introduced the demand for
money would be steady and met as
a matter of course with little or no
arrangement A similar system has
been in use in England for some time
past, where 100000 a week has
been raised with scarcely a ripple.
Values on the Stock Exchange
f1uctuated within narrow limits. The
security market is in sound condition,
and a confident undertone prevails in
spite of many uncertainties and
monetary restrictions. At present the
better class of railroad shares and
bonds are in most favor; next come
the peace induStrialS; public utilities
and munition shares being. compare
lively neglected, the latter owing to
declining dividend prospects and
heavy war taxation. Some of the in
dustrials are also affected by the
prospective fall in commodities, which
naturally affects the placing of future
contracts. Any decline in prices will,
however, aid in bringing down the
cost of living and SO tend to anchor
ate the labor situation. The outlook
for the stock market though favorable
is for considerable irreguIarity, and
purchases ought\ to be made with
continued discrimination. Investors
will find the present a good opportun-
ity to pick we'll selected properties.
Government bonds were quite active
and touched new low levels, owing to
high rates for money, which led many
subscribers to part with a portion of
their holdings
HENRY CLEWS.