New Britain herald., 1919-09-06

pav would simply mean an increased and unnecessary burden upon the peo- ple. On these points there are no possible differences of opinion among those at all familiar with the rail- road problem; but as to future or ganization and operation, there are very widely different opinions.
 Stock Market Outlook.
 . A decidedly better feeling prevails in the financial district. Probably the most important aid in this direction has been the more reasonable atti- tude of labor. Disturbances of this chara cter have evidently reached their climax Strikes may still occur; but workngmen have already very materially improved their position, and, as lower wages are not in sight, any ameloratiOn in the high cost Of living will confer a still further bene- fit General business is satisfactory, and the usual autumn activity is close at hand; the outlook being promising, despite the fact that the agricultural yield will fall below early expecta- tions and only reach about an aver age result In any event, growers of grain, cotton, etc, will secure good profits. Proftcering, both among producers and distributors, has re- ceived a pronounced check, and this will tend to allay public unrest. Banking and credit positions are sound. Building is still 50 per cent. below normal, owing to high costs of materials and labor. Reasonable concessions in these directions would promptly stimulate this department of industry. Tn the export trade there are signs of unusual activity. Europe needs not only our staple products, such as food, oil, cotton, copper, etc, but will also need large quantities of American steel manufac ctures. To q very considerable extent we shall supply much of the materials ordi- narily furnished by Great Britain, which is seriously handicapped in it's foreign trade by the great disadvan- tages in abor and coal, the latter having trebled in cost We should, therefore, export much larger quan- titles of locomotives, cars, oil, ma Chinery, pipe, etc, for which there is a brisk demand throughout Europe to replenish after-War requirements. There is also every prospect of a big nome demand TOT steel, oil, cOpp6-' and many luNuries, such as automo- piles, for months to come. Railroad shares, though neglected, are firmly held, in the belief that the govern ment will fulfill it's pledge of return ing them to owners in as good con- dition as when taken over; also in hope that new legislation will prove both fair and intelligent. There has been some improvement in the money situation. funds being more abundant
 while industrials as collateral are ac- Cepted with less discrimination than formerly. Exchange continues very low, but must be scratching bottom. There is every prospect of an active but very irregular stock market, with a prevalent upward trend. Values in some cases however, are exceedingly cratic, and all transa ctions should be conducted with much discrimination and conservatism. All things cOnSid- cred. the general outlook is promis- ing. It should be remembered that the worst of many disturbing ele- ments has been experienced, and that the entire world has faced about from destructive to constructive activities, and that many of our present trou- bles are temporary and sociological.
 HENRY CLEWS.