New Britain herald., 1919-04-12

Needless to say, merchants and nanu- facturers in the Agricultural dis tricts will enjoy unusual prosperity which in turn will be reflected in all parts of the country. Our rail roads will therefore experience a much larger traffic than usual dur ing the latter half of the current year. Incidentally this should aid in adjusting railroad losses. which must be offsea either by advanced rates or considerably larger traffic.
 Stock market activity continued upon a liberal scale. Although there has been considerable realizing, the undertone of the market continues strong and confidence in the future has not been seriously disturbed. Alp narent1y the large decreases in ln- duStrial dividends and the adVanc- ing tendency of interest rates have been discounted No little confidence is based upon the stimulus of profitable harvest: upon the resump- tion of some lines of industry. ana the reviving tendencies Of building, railroads and shipping; also the probability that the heavy burden or taxation will be moderated by the next Congress. A special session IS inevitable, probably in the latter part of May. to deal with the most pressing problems of railroads. taxa tion and reconstruction. Some of the specialties were particularly active; and the supply of stocks generally is scarce, the advance thus far hay ing brought out little or no invest ment holdings. One clement of strength is the new buying demand on the part of those having made for tunes during the war. There is still a large amount of funds thus de- rived awaiting investment, and in this connection not a little foreign capital of the same sort has lately come into this market. Slowly but surely business is getting back to more normal conditions. Price fix ing is gradually waning in popularity and power. The experiences of the last few years have given believers in government control of industry some very serious shocks; the radl- calls are declining in power, and the number who desire to see trade ana industry go back into establlshed natural operations is steadily 1n- creasing. Of course. we are still Tn the midst Of a very unsettled recon struction period. which is likely to continue indefinitely for months to. come. But in spite of this, the drift is toward more hopeful and more settled conditions and better things are expected from the incoming con- gress.
 The local money market Is fairly supplied with funds; and the forth coning government loan will have slight effect, having been anticipated by issue of treasury notes to almost the full amount of the loan. The chief problem in financing the Vic tory bond issue will be in transferring the loan from banks to invest ors This must be accomplished and will have to be done through an appeal to reason rather than to patriotism which did it's full share in previous drives. The new loan will prove a really attractive investment and should be absorbed by the public with confidence If the public fails to do it's share. the banks will be unable to give that same public the accommodate it usually requires. It will, therefore. be good business to relieve the banks of a load which does not legitifnately belong to them
 HENRY CLEwS.