The Bridgeport times and evening farmer., 1919-03-04
HENRY CLEWS'
 WEEKLY LETTER

Apparently the financial district has been busy discounting better conditions. which seem to be ap- preaching though not yet actually in sight. Beyond doubt, a more hopeful feeling has been slowly developing throughout the month of February expressing itself in an enlarged recov- cry of confidence in banking circles and in a moderate revival of enter prise. Men at the head of large in dustriaI undertakings are growing more and more optimistic, despite present slackness and a disturbing labor outlook. Many new bufluIug projects are likely to be soon launched should nothing prevent: commodity prices are falling; eco- homie law Is gradually resuming it's sway, the opposition to Federal own ership of railroads, telegraphs and telephones is increasing; in short, while many serious problems and more or less consequent disturbance are still ahead of us it is a well sub- stantiated opinion that the worst is sufficiently known to be fairly meas ured, and that ere long conditions must improve rather than retrograde. Such beliefs seem to be the basis of the improvement noted during the last few weeks. Actually, there has been little positive change for the better; and 1t would be easy for the pessimist to point out where matters may grow worse before tney grow better, notably in the matter of labor But fortunately for the country's s progress Wall Street always tncIines to make the best of things, and to be T1 fgff 1s opportunity; and undoubtedly 1t has been discounting the better times to come as far as circumstances will allow. Whether we are moving too fast in this direction or not remains to be seen.
 Congress is now about to adjourn, and there is no prospect of an extra session until possibly May or June next.
 What the new Congress will do cannot be forecast. The House ma jority is politically opposed to the President; but MT. Wilson has so enormously enhanced his prestige through his meritorious Ia bors for the League of Nations that he may be able to continue his remarkable sway over the course of affairs at Washing ton during the remainder Of his term. Whatever criticisms are showered upon some of MT. Wilson's policies and actions, he has certainly placed the United States among the very first of great nations; and this is a work of incaIculabIe value in the great future that Is before us. It is 10 be hoped that partisanshtp vii not be allowed to weaken the wonderful influence which America has gained amongst other nations under MT. Wilson's shLfu1 leadership in foreign affairs.
 Security values arc steadily hard entng, many of the spec1alties having shown decided advances during the month of February. Indu trial issues were we'll sustained, owing to the be- lief in business recovery, and the fact that taxation, which often cut profits to the bone, will be less oppressive in 1919 than in 1913. The iron trade is in a more hopeful temper, based on expectations that If prices are reason ably stabilized at the present level there will be an abundance of build ing and railroad orders to take the place of war contracts which have permanently disappeared. It must be remembered that new buildings and new railroad work have been practically held up since the war be gan. There is. therefore, a great scarcity of apartments and housing facilities, which must be made good and whiC1 higher rents will justify. Our railroads have been at 8, standstilI as regards new facilities or improve ments, and much work will have to be done to bring equipment, terminal facilities, roadbed, etc, up to stan dard after prolonged neglect and hard wear. Even If export demands do not immediately come up to expec- tatons, home orders promise to keep this great industry quite busy during the interval. Railroad shares were well maintained, and COT ,ence in this class of investments has been partially restored.