The Bridgeport times and evening farmer., 1920-05-06

ed in supply or in rate continuing to I be offered in limited quantity at to l g per cent. The banking situation shows a shifting of the points of pressure as might reasonably be ex- pected at this season of the year, but the fact that it does not show the re- suits of an increase of such pressure is very noteworthy and encouraging. With moderation and care from now onward throughout the season there should be at least 8 reasonable sup ply of funds for legitimate needs. In fact, the danger now to be looked for is not in connection with the banking situation, to which so much unintelligent attention is being given, but is rather to be found in public finance in connection with the pros poets of excessive taxation or over issues of bonds. There is every req son to expect considerable accretions in our gold stock, the announcement being made with authority during the week that large new shipments from l Great Britain might be expected in : the near future. This in line with l the statements made some time ago when the $5O,000,00o shipped to the | United States as a first instalment was on it's way. Withdrawals of gold | have been made within the past ten days amounting to about $11, ,000, 900, | and these, with previous shipments have taken from us most of the $50,- l 900, 900, thus leaving our previous stock intact The new gold ship ments will be likely to remain here in larger degree than those already sent us.
 1 An Important Decision
 The decision of the Supreme Court l in the Reading case, handed down on Monday last is another in the series of significant actions taken at this session of the court. It practically reafffrms the older meaning of the l so-caIled commodities clause, and thus compels the road to seperate it. self from its coal land properties Present corporate relationships, ac- cording to the court, are a plain vio- Iation of antitrust law principles This decision is naturally a surprise and source of regret to those who approved the steel decision, but it is strictly in line with the older findings of the court. The fact that it was handed down by closely divided vote indicates the existence of con- siderable doubt on the part of the court itself in choosing between the old and the new views of the anti
 
 a fact, and goes far to confirm the , belief that henceforward railroad dina will be a ''stabi1ized' occupation, de. voted solely to transportation anG F with its earnings, as we'll as it's busi- . l ness transactions, closely controlled through Government supervision The
 process of separating the road iron
 it's coal holdings will, however, in. volve a good deal of redistribution o1
 stock, and holds out the prospect o1
 profits to holders of present shares, z
 situation reflected in the prompt re-
 sponse made by Reading bonds an6
 stocks to the announcement of the courts position. Othere rails have
 naturally gained some advantage
 from the Reading decision as a mat ter of sympathy with the advance ir , that roads stock, although there wa, , no obvious reason why they should , do so. On the other hand, the tend , ency to sell industrials and buy rail.
 which was noted during the read
 justments growing out of the decision : was likewise purely temporary
 speculative market phase for whicE
 no good explanation could be assign , ed from any broad standpoint.
 Business Strong and Active
 Reports from all parts of the coun =
 with pessimistic stories largely dis
 counted. The Steel Corporation - showing is a case in point The re n currence of labor unrest in som v conspicuous ways, such as the ma e tional railroad strike, does not repre- V sent a general condition in labor a e a whole, which continues to be broad t 1ye employed at good wages. Manu - featuring was never more active q many plants approaching 100 pc r cent capacity, and prosperity bein n widespread. The fact that goods ar t nowhere accumulated in any con - siderable amount is the answer to tn h suggestions that a setback is likel - to come at an early date. Difficulr = in getting supplies of raw material l. is more likely to be the cause 0 V trouble and the shortage of labor e particularly on the farm, tends t r. cause well grounded fear of furthe t advances in prices. The genera d price level, however, is toierab1y sta t ble, but little advance being show s during the past month either by tn fipures ofs inc Bureau of Is3haT- ar h