The Bridgeport times and evening farmer., 1919-03-24

4AOL NIoCOAil al ONs <1liu "4I4lG CdulAOuS are generally optimistic. Industry is slack in spots; but, given steady prices on a lower basis, as well. as fairly stable labor conditions. it would quickly revive. Big distributing mer- chants are in a similar position. Gen orally they are carrying small stocks of finished goods, and are prepared to buy freely when satisfied that prices are upon a more stable basis. Some large producers, such as the copper men and some of the leading textile manufacturers, have recognized this factor and deliberately made heavy sales at a loss in order to start things moving and stabilize prices. Over a million pieces of print cloths were sold during the last ten days at the new prices. Steel manufacturers have made concessions of 10 to II per cent. in prices to meet the situa- ton. As for agrtculturists, they are in a class by themselves. Their prosperity for another year at" least is positively assured. We must feed Europe at all hazards, and that means high prices and big crops. Our farmers should produce to the very utmost for their own individual good as well as for the starving millions
 
 food growing sections of Europe, which ordinarily produce large sur pluses for export, will only have food enough to keep them alive this year: hence in foodstuffs there will be little decline in prices this year, if any, and higher prices need cause no sur prise.
 Something should be done for the railroads before the failure of Con gress to meet their financial needs creates a serious situation. Our gov ernment seized control of the roads as a. war measure, at the same time advancing wages over s800,000,0 ,000 a year. In spite of higher rates and various economies intended to offset this enormously increased obligation. the roads find themselves faced with a bad situation, which only Congress can overcome. In January the de- felt from operation was about $55,- 100000 and it Is estimated that the net losses for the present year will be nearly $500, 100000. The best way out is for Congress to provide the $750,00 900 revolving fund which experts assert is absolutely necessary if the roads are to maintain improve ments and preserve their credit. Some relief was afforded by the decision of the War Finance Corporation to ad- vance S7O,0O0,00O to meet necessary payments on April 1. The roads were taken over as a measure of na- t1onaI self protection, and simply as a matter of good faith the government must help the roads out of the slough into which it was compelled to throw them.
 The event of the week in financial circles was abandonment of the peg in sterling exchange. Such a move was not entirely unexpected. Following the unsettled conditions in French exchange it showed that return to the normal is proceeding in the inan- -cial world as elsewhere, though it re- mains to be seen whether exchange can be left to itself or whether some measure of control may again be re- sorted to. If the present rate of ex- cess in exports over imports con tinues gold imports would follow were 1t not for present restrictions which will probably be continued for a period. It is announced that Great Britain will discourage imports and stimulate exports hoping to restore equilibrium in her foreign trade. It is not expected that these develop ments in sterling will have any ad- verse effect beyond 1nhlcung some losses upon American products stored abroad and still owned here. From the broad point of view the step was welcome as indicating a return to normal.
 On the Stock Exchange there was Iessened activity and slight check in the advancing tendency so pro nounced during the last few weeks. Investment buying was less conspic- uous and the advances were confined to few of the industrials which were benef1ting from special circumstances Railroad shares were affected, by the unfavora,ble relations which exist be- tween them and the government. as well as by the fact that tnear nnancial condition was such as to suspend all improvements and betterments. Steel saaras declined on n e1Deetaaion of