New Britain herald., 1921-04-23
WEEKS REVIEW AND IMMEDIATE OUTLOOK,
Henry CleWS, New York Financial
 Expert, Gives His Opinions
Especial to The Herald)

Especial to The Herald)
 New York April 23.-Final col lapse of the general ''walkout" which had been planned by British labor unions has decidedly improved the general aspect of foreign economic affairs during the past few days. The coal strike still remains to be set tied. but what appears to be a fairly feasible program of compromise is announced. Another encouraging foreign feature ss the appeal of Berlin to Washington to act as med .iator in bringing about settle ment of the separations matter. The forceful reply of Secretary Hughes, it is believed, will result in a speedy renewal Of negotiations with the AL lies and that an agreement will then shortly be reached. There is of course, no other road open for Ger many to follow. A settlement of this vexatious question will undoubtedly do much to revive international trade and cannot fail to be of bene- fit to the United States.
 Tho Railroad situation.
 Railroad conditions have con- tinued to occupy a place of primary importance in investment and specu- lative circles during the past week. The announcement that the labor agreements Of the war period had been abrogated or terminated was a first step which laid the foundation for some settlement of present rail- road controversies but which to be really effective requires much fur ther work. Revision of the wage scales in effect on the principal roads ia a matter that will take a good deal of time before it is completed. Such revision, however. is evidently in sight. Statements on the part of leading members O. the administra- ton that revision of rates is like wise demanded in the interest of farmers and other clements in the community represent n general feel ing that present rates arc in many cases too high. There is. however. no disposition SO far as can be learned to attempt any general slashing Of rates while in the opin- ion Of many traffic experts a reason able readjustment of some rate clas- siications would result in actually increasing the revenues of the car riers. The force of public demand is evidently quite fully concentrated upon restoring the railroads to a self supporting basis rather than further undermining them in the interest either of farmers of manu- facturers.
 Foreign Trade
 Foreign trade figures for the month Of March show a general de- crease of about 50 per cent in im- ports as compared with March 1920. and rather more than the proportion in exports. As against February of this year there is shown an advance of about IS per cent in imports and a falling off of about 22 1-2 per cent. in exports. Meanwhile gold has continued to come into the United States In iarg quantities and has tended to strengthen the reserves of the federal reserve system in an i'm portant degree. The net amount re- ceived since the beginning of the year Is estimated at about s175 o0o,- 900. It should be remembered that whereas in 1913 it was estimated that we owed to foreign countries some 6.o0o. .o00. 900 in securities and probably s1.o00. 100000 on open ac- count we have turned the scales and as a result of our war advances we are today creditors to the extent of not less than 2.0o0. 100000 or s14.- 900, ,oO0,0 ,000 on funded and st.o00,- 900. 900 on open account--a shift of at least s25.ooo. 100000 as com