New Britain herald., 1919-03-08

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 times
 1 It is nH should
 in order LIT
 and to rena&
 ] President W
 1 Europe to h44
 League of Na1A
 1 essential amendn1
 l go far toward prevs5 In merchandise cirS3 more or less hesitatio7fM certainty regarding the fQ&,, prices and wages. Commodif1 erally are weak and decIinine als and textiles, which include a vervs large proportion of domestic industry. are conspicuously lower, but as yet there is no evidence of their having reached a stable basis, and there has been no little uneasiness as to the large stocks of metals and raw and mnufactured flores held by the gov ernment and others which must eventually come on the market at a heavy depreciation from war prices. It is true that shelves are bare, that buying power is large, but with such
 
 ally hold aloof until satisfied that bot tom has been reached for the season at least. Manufacturers are also held back pending adjustment of wage dis putes. Now that the cost of living has begun to decline, it is hoped such difficulties will become less acute. Not a lew industrial concerns have re- duced prices of their products to a level that eliminates all profit; while others are running upon exceedingly narrow margins and a god many div ldendS have been reduced or passed with others to follow. In some in stances strong concerns will be oblig- ed to pay their taxes out of borrowed money. Such developments are part of the inevitable readjustment of bus mess to a peace basis. Capital has thus far made heavy sacrifices and is doing it's full share in aiding adjust ment to the new. It remains to be seen what labor will do towards help ing the situation, either through con- sessions in wages or increases in the product; or whether it will stand pat and impede the attempt to reduce prices, from which it will be the greatest beneficiary. Unfortunately labor is deceiving itself by standing In the way of natural developments, since very moderate concessionss would give industry a fresh start, from which jobs to the unemployed would quickly follow.
 Not a little disappointment is felt in the business world at delay in Washington of adjustment of many important problems. This is especial 1y true regarding the railroads, con- gress having failed to provide the
 
 ments and current expenses. The eff feet of this upon the market was slight, because of the expectation that the war finance corporation, the treasury department and the railroad administration, working together. would provide a plan for financing the roads until an extra session of congress settles the difficulties. The announcement that q committee of bankers stood ready to advance loan of $500, 100000 to the railroads to meet urgent necessities afforded de- cided encouragement Knowledge of this movement probably had much to do with the recent firmness of rail- road shares in spite of the failure of congress. The government may have preferred to do this financing itself, but had it's hands full with the ap- preaching Liberty loan. Most of the roads are doing better, now that the Arrangements incidental to war have passed, and the same is true of many public service corporations, particu- larly street railways, which have had similar handicaps to overcome.
 Our foreign trade is fairly satisfac- tory, the total exports in January be- ing S623, 900, ,O0O an increase of $118,- 900, ,00O compared with a year ago. Imports aggregated 13,000,000, decrease of $21, 100000. The decline of imports was not entirely satisfac- tory. Our exports to France showed a decrease of $40, 100000, to Italy an increase of $9,000,000 to the United Kingdom an expansion of $9,OOO,O 900, to Japan an increase of $8,OO0,OO0, to Argentina an increase of $l6,0OO,OOO and to Canada a gain of $5,OOO, 900. As to imports, we received $4,OOO,0O0 less from the United Kingdom, $4, 900, 900 more from Canada and $19, 000,000 less from Argentina. The largest increase in exports was i'll foodstuffs, amounting to $84, 900. There was also an increase of s52,- 100000 in a&lde raw material exports and a decline of 22,000,OO0 in raw materials imported for home manu- factureS.
 The rise in stock exchange values reached a point inviting temporary profit taking, which somewhat mod1- fled a previously strong technlcaI slt- uation. Influences affecting security nrices are emphatic and conflicting. On the favorable side we ma pro- gress at the neace table, the adjourn ment of congress, the approach Of enrino ,oe1,,,,n ntion of outdoor &C.,