New Britain herald., 1923-12-29

New York. Dec. .9.-~Tiusincss in the United States during 1928 Was good in most lines. with the outlook for 1924 regarded us encouraging lay many business ana banking leaders. While opinion is divided as to the eX- tent which domestic business has suf- fered by the unsettled economic con dition of Europe. there is d unauimity of opinion among industrial executives that satisfactory solution of the troublesome rcparations problem would stimulate business and increase industrial activity in this country.
 Freed from the heavy expenses en- tailed hy the prolonged shopmcns strike and the loss Of revenue from the miners strike. which caused enormous losses in l929. the railroads generally enjoyed a prosperous year, Net income of Class One roads for the first ten months of 1923. the latest figures available, totaied approximate iy SS2o, o,Gao.ooo. an increase Of $e06.- 9o0,000 over the corresponding period of 1898. with indications that the wears total net income would reach 1000. .G00uoU.
 Freight Records
 Freight traffic reached record breaking proportions. the weekly ear ca iirgs exceeding the milton mark more than en times. The increased efficiency in loading and moving cars was shown by an increase of approxi- mutely go per cent in net lon miles over 1929. Huge sums were spent for new equipment trnsts The Baiti- more S Ohio railroad resumed diri- icnds on its commou stock during 'he ycar. the New York Central in- .Teasad its annual diNidr nd from , to per cent and the Guif. Mobile x Northern dec' arcd an initial stock. The Lou.sviil" X Nashville. railroad declared a stock dividend of G2la per rent.
 For the first time since 1917 the railroads showed an increase in the rorstructiou ot main line mileage. important construction developments "udrr way iucIud, the linking up ot tho Southern Iarrt,r with NrNlro city. mrr duubDp trar!,irc ur th, >notr F". th" rut-oT ortrHtiouo of th, New York Central at Albany and ot the Illinois Central on is main line.
 T.! Hour Day Eliminated
 Elimiration of the l@ hour day al the suggestion of the late President Harding was one of Inc outstanding developem.nts ur th" st""l industry iu 1928. F.. II. Gary. chairman Of the 'pitnd StatoS Steel Cornoratiou.. csti- mated. when the announcement Was madc, that the change in working hours would incrrasc the tost or pro- ductien hy l5 percent, RnrJd- break . ing building construction, 'much of which was delayed by the war. and larg railroad orders help sd 10 offset thc loss ot export business thr economic disturbances of . Europe. Material for reconstruction work in Japan was an important fpr- tor in the closing months of the year. Tho declaration Of an oSarH dividend 1f l-i of p"r cent hy thr I'. x Stnol or Oct g. WAS g"noralis construed as an expression or con. idrncr in the immediate bu-tuuss fu. urc.
 Heavy n,nr-produ,tina nf crude oil n California followed lr thr disco,. ny or n big productive Held iu crr- ral Texas una itl"d tn" oil market. 'orriug rrudr prices in 'try low l-s. 'ls and bringing ahou1 2 EHsulmr ,t'c' -rui'iug war in tuiious sections ,f tb. rounils. Iuspit Joe fact thff aas Rrn.f-r than eyer 'eforc. Ths .Ucir8st "a riomusti,' pro- lurtion mor" than oftet tflr loss ir Mexico, where many Nfil. ut Into alt water oari'r iu ths yter Ju ur- lrr Co rons.r,r their tstsa c"snlir.rs md finance hnua quaHitiis.z of oil and .asolino ir storage, .e tral uf iha mailer ronipauirs wor.. tnrrB to uspcnd or rrJ.lro their .lisid.Hds.
 amto industry i.opi
 Thr automobile industry had the 'rst year iu its history. nearly 4.npp.. no ears and trucks being manuiar- nrrd durinE fhr year. This brought he total rars iH us,, iu his couutrr n approximately i4.pao. .nnn. or aO por , rnt or tnr worlds supply. produr. [ lon gcFrdulez recently anuouured hy ic larger companies ndiratr that [ hr output iu tho iir-i trrr,- months [ f i92f win rAc'ad that or thr cor I ospoudiug period tn fa9a.
 rroduttiBu Of railroa equipment I lso rrarb"d wv high records as | asIit ot rxttusitr rcpi4.. nnrnts mad. y alt the leading rai.rpaI =tstrms. V g cstimafpd that tb, ratiaoaas or thu g uiied Sistrs sp,uf apbrne imat'iy 2, fo", ,nho .noa for oqnipnt .u. tt 1923