The Bridgeport times and evening farmer. (Bridgeport, Conn.) 1918-1924, 1918-05-27
ENRY CLEWS
WEEKLY LETTER

.WEENEg AEI1HU
10 abatement can be detected In
time activities, which grow more
more intense as the struggle pro-
sses. At this writing the expected
ewal of Germany's great drive has
materialized, presumably because
incomplete preparations. Mean
lie the strength and morale of the
es is steadily rising, largely owing
he rapid influx of American troops
France. This movement is now
crossing at a. rate of probably TO-
per day, which is highly satisfac-
to American expectations and de-
ed1y threatening to those of Ger
ny. The longer the enemy's Of
sive is delayed the more complete
be its defeat. Time works more
bctively than ever against the Cen
powers, which find the pacifca-
Sof Russia increasingly difficult,
new supply of food and raw ma
ials below expectations, and dis
sions in Austria constantly in
asing. By contrast, the Allies are
rking together more tremendously
In at any period of the war; their
ength is rising as American prepa-
ions approach their maximum, and
eh day strengthens confidence in
innate German defeat. The one
bat hindrance to peace is Germany's
ndness to the real Allied situation.
ped as they are by military leaders,
ose all is at stake, there seems to
no way out except fighting to the
ter end until we have completely
ashed the cruel autocracy which
-eatens the freedom of the civilized
rid. 1t is our determination as a
ton to deliver that final blow; and
cry particle Of strength that We
ssess should be spen. for speeding
war and Fastening the decisive
bment.
As repeatedly in mated in these
vices, government control of indus
must logically go on until COM
ete in all instrumentalities necessary
prosecution of the war. Adequate
iciency can only be attained
rough highly centralized or single
ntrol; half way methods being in
equate and confusing. Hence
arly all our great Industrial activi-
are rapidly coming under a series
relationships, which in turn fall
o the hands of President Wilson,
40 today is the greatest dictator the
brld has ever seen; albeit he for
nately happens to be a benevolent
e. AS a war measure these steps
necessary, and have met with uni
rsal public approval. When peace
mes many will be retraced, and
any will not. The most important
bparture ln this direction this week
as the decision of Secretary Nc
loo to remove certain railroad man.
;ers and to reduce unnecessarily
gh salaries. In some instances such
tion will doubtless improve the ser
ce and secure better management
the advantage of public and owners
ike. With present concentration
Id simplifcation of railroad system:
any superfluous officials could un
iestionably be advantageous!
Popped; for, as the various system!
ecome more fully developed, rivalr!
sappears, and the necessity for skill
finance or enterprise in construction
scomes less urgent. Today new
roblems are far more easily solved
ian formerly; management is sim
ified and administration is usual!
IS difficult than in the pioneer stag
American railroading, when gian
bilities were needed and could onl,
had through handsome rewards
hose days have passed into history
nd a type of manager is now requir
/ quite different from the Wander
Its, the Huntingtons, the Harrimans
to-; all of which were the product o
pecial circumstances. Just as the oil
me merchant-sea-capta has beef
bliged to give way to the moder1
aptain who simply navigates, so tn
Id type of railroad president VIII
vas pioneer, builder, operator an,
nancier all in one, must give wa
! the skilled operator or engineer.
desirable, however, that the chang
vould be made gradually and wit
ne discretion. Transportation on
arge scale calls for exceptional abil
ty, and many Of our great railroad
re finding problems that it would b
extremely hazardous to leave to mex
berienced hands For some years t
ONE American railroads will requir
xpert administration of the higheS
rider; and to drive such men out c
he service for sake Of economy ma
prove unwise. Mr.. McAdoo, however
has had some experience with rail
oading, and must have learned tn
yalue of good management. Sufic
t to say that his moves in this direc
ion will be scrutiniDed with intens
Interest," and in view of the fact ths
he administration is now friendly
he railroads and recognizes the in
portance of placing them upon
sound, self-supporting basis, thel
seems to be no reason for approher
don; especially as government actio
.hus far has been in the direction I
-ailroad sterilization.
On the Stock Exchange there hs
oeen fair activity, though none
market conditions imposed restrain
upon speculative transactions PRO-
,aking induced considerable sales ar
reaction, but as prices declined a.
tivity lessened, showing that the
was no real weakness of underton
In fact, confidence among investo
md large holders in future valu'
seems .undisturbed, and values reco'
cred readily after all sharp decline
AS a natural result of higher mont
rates there is a steady demand for 6
the high dividend payers, since OWL