New Britain herald., 1919-10-25
Henry Czews
 Weekly Letter

New York, Oct. 25.-The approach of ratification of the treaty with Ger many has been hailed during tho past week i'll practically all countries as the most important financial and commercial event for a good while past. That such formal ratification will take place at an early date, possibly October 30, is the current forecast i'll some quarters. The ad- heslon of the United States to the treaty is still in doubt, and the pre- d1ctlons of some political leaders that we shall so modify the treaty by res ervations as to eliminate much of it's value has undoubtedly caused anxiety Should we practically precipitate our- selves into a situation in which we had no definite connections with for elgn countries, and could not share in the benefits obtained under the formal agreement with Germany our trade and finance would undoubtedly suffer seriously in it's foreign aspects From this danger it will be the first duty of public men to protect the nation.
 Labor and Financial Situation
 The labor and trade situation has for some time past been curiously mixed. The gradual collapse of the steel strike and the strong hand shown by the United States govern ment in controlling the port strike at New York; but the most encouraging element in the case has been the cir cumstance that public opinion, when enlightened upon the real motives of the "red" agitators who are behind the disturbances has turned against them. Industrially the reports from all over the country are encouraging, ref1ecting, as they do, good demand for goods and a great ability to pur- chase and pay for them. An abun- dance of means in the hands of the public throughout the country has re- |, suited in 8 steady investment demand for the more solid kinds of securities as well as in a tendency on the part of the public generally to purchase and carry stocks of the sounder va rieties. This disposition has been we'll maintained in spite of an ad- verse money situation which during the early part of the week showed high rates for call funds; and during the latter part of the week, although easier rates were reported, indicated a short supply of cash for market purposes. The investment demand of the country has been stimulated by the actual evidence before the eyes of the public everywhere as to indus trial activity and prosperity. Hopeful in this connection has been the re- port of the Bureau of Labor that comm odity prices representing the cost of living have been on the de- cline during the past month and show shrinkage of two per cent or more in most cases
 As against this investment strength, the speculative situation has been perturbed and dangerous. During the latter part of the week there was a sharp collapse among some of the favorite shares, including oils and a variety of industrial shares, which had been advanced to levels which left them in an evidently ''topheavy" condition. With call money in rela- lively scant supply and likely to ex- hibit f1rmer rates a number of stocks which were in a technically weak po- stion should be looked upon with great caution and can be purchased only when the buyer is in position amply to protect himself.
 Financial Legislation.
 After being held up for a long time in committee it now seems as If the Edge Bill, which provides for the formation of corporations to engage in the furtherance of foreign trade. would be adopted at an early date, It seems also likely that congress may adopt at an early date some pre- liminary commercial or tariff enact ments which should have their effect in advancing the price of industrial shares by assuring the home producer of a. greater degree of protection