The Bridgeport times and evening farmer., 1919-06-03
Finance, Real EStatea and Insurance

dulum must swing backward as vii
 olently as it previously swung for
 ward accelerated by economic starva-
 ton following war. We are already
 in period of unreasoning optimism
 q perfectly natural sequence of the
 terrible depression of the last few
 years. The world is consequently
 threatened with an era of speculation
 and expansion that later on may
 strain banking resources to the very
 limit unless restraint is wisIey and
 courageously applied to prevent dan
 GerouS eXcesses. Fortunately Ameri-
 can bankers are much alive to such
 cooperation Of the business com
 munity they cannot be entirely avert
 ed. The present inflationary temper
 is the sequence of past events; a sort
 of fever in the blood of our eco
 homie system. which must run it's
 course to the point of exhaustion, result not yet in sight. Despite in flation of credit, modities and wages, the business situation in the United States is still strong; much
 stronger than that of any other na- tion in the world because for the next twelve months at least we stand to lose less and gain more than any
 of the other nations involved There
 are unusual danger spots ahead and great risks of an imitation that will bring unpleasant consequences later on, unless checked in time. The inn l mediate outlook, however, as a whole warrants discriminating confidence 1 and a steady belief in all sound and
 well established enterprises
 Stock Market Influences.
 Stock Exchange activity has con tinued upon an extraordinary scale, nr1x- Sh 6ail al though intervention of Decoration Day caused some slowing down. Values as a rule continue to advance, the exceptions being few and unin- portant. Considering the enormous transactions, profit taking was very moderate; in fact, moderate Hquida- ton is desirable in some quarters where the pace has been too fast and the rise too uneven. The greatest advances were among the industrials. not a few of which are making very | large earnings. Thus far, however, the rise has been simply a natural re-
 sponse to unprecedented conditions. the prime factor being the great wave of agricultural prosperity which is sweeping the country. Even should the weather not prove all that might be desired during the next few weeks, we are assured a wheat crop of 900,- 000,0 bushels, or more, at exceed ingly profitable prices. The buying power of the interior for another year will consequently by simply tre mendous, and the only impedim ent to widening mercantile activity at this moment is a prudent hesitation of distributors to stock up freely at cur rent high prices. But a great con- sumptive demand is in prospect nevertheless, the only check upon which will be frequent scant supplies and inordinately high prices that are already acting es an important re- straint upon buyers.
 The Railroads and Congress.
 The agricultural situation is also a very important factor in the railroad outlook, which otherwise would De very discourging. It is credibly stated that the railroads will run behind to
 the amount of 1,750,00o, 900 before
 return to their owners; a sum which Congress may be asked to appro- priate in fulfilment of its promise to restore the roads to their owners in
 ms good condition as when taken over. This promise alone saved the roads from financial disaster; and.
 when to this is added the prospect of
 good business next fall. it is seen that their future is much better than ap-
 pears on the surface; hence their re- cent strength. The next important consideration in connection with se- curtty velues in the attitude of the new Congress towards business. The necessary appropriations will certain lv be made; the railtoad problem will of course be tackled, and some im-