The New York herald., 1921-06-21
CANADA BECOMING
MORE OPTIMISTIC
Outlook Is Clearing and Turn
Is i'm Sight. Business Men in
Dominion Assert.

spec.oI Despatch 10 TIE New YosK HyrAIp D.
MONTREAL. June 20.--Although 4 large
number of people who possess one way
judgment are still bowling calamity and
blue ruin, their numbers gradually are
dwindlng in Canada. As a rule they
are those who. eighteen months ago.
could not see anything in the future but
continued prosperity and imitation. 1t is
presumed that their opinion or the pres
ent situation is about as accurate as has
been the case i'm the past.
Sound economic opinion CLEANED from
business men and bankers reveals the
reverse. Those men. who were largely
instrumental in putting a quick stop TO
imitation in this country more than a
year ago, now maintain that the turn
is in sight They make the statement
that the outlook is clearing visibly and
by autumn will be about as good as
general world conditions will permit.
Canada must realize. they contend. that
she is part and parce! Of the rest OF the
world in readjustment and must bear
her share Of that burden To be sure.
economic collapse in this country was
minimized largely by the foresight of the
Canadian bankers. Although :hey were
severely scored in their stringent action
of several months ago. as it tended to
force the situation, now they arc COM
mended for their foresight and deter
mination to make situation easier by
getting a step ahead OF II.
Canadian iOduSfrv rCgfipC on an
economically sound structure. To be
sure it is not active industrially as
measured by war time standards. but is
not altogether stagnant. Business or
fair proportions Is passing and the ten
dency seems to be on the increase. Re-
habilitations. however. will be SLOW
Boom times have passed, and no price
ignoring munitions buying nations are
lavish with their credits and contracts,
but progress is being made and results
are tangible.
The que stion as to whether or not
Canada will harvest this year a bumper
wheat and .;iain crop is uppermost in
the minds OF business men. The proba-
bility is that. barring unforeseen hap
penings, the 1921 grain crop will
be one of tae largest ever harvested in
the country. Although that prospect Is
appalling TO some inasmuch as a large
balance of last years crop is yet to be
moved, and the financing OF the new
crop will be a heavy financial strain on
eastern moner markets and banks. eco
nomic students do not fear the ultimate
result. In fact they regard the prospect
of a large crop with cheerfulness.
Some reports are encouraging. 1t is
thought that June will be the best month
of 1921 to date In building throughout the
country. The sugar industry in Canada
is showing signs of recurring activity.
while the steel companies are making
a valiant effort to keep things going.
The pulp and paper industry has not
shown a great deal of change in the
last week. The steel companies are be-
coming more active and general industry
is showing betterment. IT is stated that
orders for steel rails placed with the
British Empire Steel Corporation aggre-
gate 4o. 900 tons and these and other less
important business will keep the COM
pany's rail plant employed for the next
three Of four months.
The coal business up the st. Lawrence
Is showing much activity. as was ex-
pected, and ships owned and operated
in conjunction with Nova Scotia mines
are doing a very satisfactory business.
Substantial shipments of coal have been
other export markets.
Shipping companies operating on the
great lakes report passenger and
freight traffic as most satisfactory.
Most passenger boats are fully booked
for the season. Freight business is ac-
tive. major attention being given to NOV
ing the grain crop. Iron ore traffic
has not been brisk.
Following the action of the Ontario
Government in establishing provincial
cement plant. action Is being taken TO
do the same thing in Quebec province
and supply necessary road making ma
terials at cost and whenever required.
which would tend to expedite the pro-
vincial good roads operations, now In
full progress Sponsors of the plan con-
tend that private cement companies are
selling cement in Canada at 20 per cent.
more than its prevailing price In the
United States.
The Atlantic Sugar Refineries plant at
st. J ohm, n. b.. is operating at full cepac-
ity at the present time, mostly on export
sugar orders. The capacity OF the plant
is ] 100000 pounds day. In the last
week another shipment of 100000
pounds went forward to the British mar
ket. In May its shipments amounted to
100000 pounds. Internal refineries
however. are mostly inactive. During
the last week the price OF granulated
sugar in Montreal was reduced u cent
to ga, cents a pound.
The fact that Wall Street has not
given representatives of the province OF
Ontario much announcement to enter
the market there for s20.00o.o00 OF new
money Is readily appreciated here. New
York has worries of her own at the
present time. The progress OF the prov
ince in rounding out her extensive
financing plan IL being followed here
with interest. as II Is rather unusual for
Canadian province TO adopt az broad
financial policy as was the case with
Ontario. Ontario certainly needs the
money IL her hydroelectric development
plans are to be carried out. but Montreal
has little use for publicly owned enter
IL. Ii IL