The Bridgeport times and evening farmer., 1919-09-02
I. |. WATSON'S
 WEEKLY LETTER

trading sffalr within a limited range, We expect to see considerable activ= ity, owing 10 the uncertainties on all sides, With a clearing away of some of the difficulties in labor, for eign exchange, high cost Of living and the railroads, greater optimism will be Justified. But for the pres ent we think traders should restrict purchases to reactions with intention Co take profits on subsequent asd- vances, The technical position oS taA market Is improving with a division of sentiment, and q great deal of weakness has been removed by read Justuent in tho loan accounts The California courts have handed down an oil land decision beneficial to Southern Pacific, which we favorably mentioned last week and which we stlli thiTlkawcIl Of,
 The railway labor situation con tlnues unsettled, with workers in some cases over-ruilTTy conservative lead- CTS,
 The New York State BNs6eration of Labor Convention voted for nation al1zatlon of the railways and wire systems. Ono of the most favora ble Iactors In the present outlook would 6e n just conclusion as to what the railroads of thls country deserve. Chairman Gary of the U- S Steel Corporation refused to receive a committee of union labor with regard to considering wage demands. He holds that s majority Of C~ s Steel workers arc not members of the untOn and that II would therefore not be right to take up the matter with the AueraCan Federation of Labor, aiding that the corporation stands for the principle of the open saaop, Thls attitude Is considered dsgn1fad, practical and Iorcefua. Md vale Steoi employees voted against a demand for higher wages, urging that production be increased and holding shorter hours Hneoonoulio, We arc of MT. Bshsoa's belief, vsz-s What Is wanted "ts not larger earnings aud higher wages. but earnings and wages which will buy more things"
 Following the Presidents state monr that the apex of high prices Is no time 10 make 8 further gen eral advance In wages, warning that national disaster might ensue, the New York Sun says editorially: 'In order to cheek the appalling econom- ir peril of a further waTe-and-price rise. the National Administration will have to make good the stand that | has announced IL may have to face strikes and political lnanoeuvres, So long as II carries out faithfully and intsuivently the policy laid down in MT. Wilson's recent statement to the public on railway wages 1t will have Ill the friends 1t needs to see il i through"
 President Stone of the Brother hood of Iocornotive Engineers, in a statemsnt given to the press, adopts a more sensible view than some oi those advanced by other union labor radicals He says '@The solution of the wsxe problem lies in reduction l of living costs not In increased ! wages" President Gompers of the American Federation of Labor or ! his return from Europe warned enl- 2 ployers that "the white heat of ths ] world WAT has changed old methods ! and concepts,' and declares that they I rnTSt m ndars1aua that labor Is to have \ q vOsce in the conditions under which \ 1t win render service
 Beginning next week. Presl { dent Wilson Is 10 visit 50 cities of ths 4 nation to spaak for the ratification O. ! the Peace Treaty and League of Ma I Hons Covenant without reservations { Senators opposing him will appeal tt l inc country at the same time. I'm \ foreign exchange situation continue '; 10 be unsettled- and may not be sta I bilized until the Treaty is ratified l Some progress is being made in tn, ! campaign by the Government agains the high cost of living, but the stop
 
 ] duc1ion are essential tD material bene | fits in this respect Former Chair i man Anderson of the Interstat l Commerce Commission advocates uni | hcat5on of the railroads into a singl < great system with the public and tn I workers represented
 Theodore N Vail Is of the opinion | that America is entering the greates 1 period of business prosperity it ha l ever seen The worlds shelves, h says, ara bare of goods Replie from 1879 business men to a Ques | tionnaire sent out by Aessrs. Harris Y Winthrop lS- Co., agree that prosper
 ity will continue in this country fo Il at least two and one half years Ex
 ports Of oil from Mexico in the las } few months have been at the rat
 of. so million barrels a year. DireCto General of Railroad Hines has signe
 contracts with the New Haven an Texas t& Pacific On the basis ex , ecuted New Haven shows S1.S0
 share for 1918 The worlds stear l shipping tonnage is now estimate
 at A7,S97,DOO against 45,4O4, 900 i 1914 The copper metal market l unsettled American troops have bee T recalled from Mexico Saving ban l! deposits show large gain in the frs