The Waterbury Democrat., 1939-12-27
Outlook Cheerful for 1940

Business men have habit, at the end of each year, of taking inventory or thelr prospects for the new year as well as ol their tangible goods on hand. Insofar as it is possible, they like to know what to expect. Looking at statistics, politics ana the war, all in one broad squint, business men are reasonably confident that the wear ahead will be a happy one They are particularly treasured by the general state of affairs at the years end
 According to the Alexander Hamilton Institute, 2,000,000 persons have found employment during the past year, Although the ranks of the unemployed were not reduced in the same degree Ge- cause of the addition of new employableS, the number of jobless dropped about l,500,000 in @ year, In October, accord ing to the institute there were 9'S2Too0 unemployed a figure which agrees pretty well with other recent estimates
 Similar optimism toward l940 Is re- flected in set of concise predictions made bv the National Association Of Credit Men, spokesman for large numbers or manufacturers, bankers and WholeSalefS. Generally, the credit association sees enough favorable factors on the horizon to offset any unEavoraole elements when l940 may produce. It believes the caIn' oaign will be too short to have any malor effect on business; and 1t is convinced That the efforts of both principal parties will make the possibility of participation in the European wars even dinner.
 In broad way, the credit men sweep the entire realm of American institutions Eo come up with these specific forecasts
 Horticulture: Income should increase at least 10 per cent despite present sur buses. War activity may increase 1t even more. Generally, the farmer may expect better year In l940.
 Industry; Even the normal seasonal Hull in January may not be as acute as usual. The automobile industry, in par ticular, will have sprint In l040. While there may be slight drop in steel early 'n the year, it will not be serious. Rail- roads and building industries are stand Ing up notably and may be expected to continue to do so.
 Labor: There will be higher payro!ls generally. In some cases, workers Will receive pay increases; in others, payroll gains will be reflected in more Jobs for persons currently unemployed. The credit men also believe new efforts to con- solidate the c. 1. c. and the A. F. of l.. will be made during the ensuing year but they do not think any of the efforts will be successful
 Securities; It Is expected that securl- ties will generally reach healthy condi- ton because of their present lag behind earnings. Only the 1940 campaign can seriously interfere with consistent ad- vanceS.
 Credit. There will be an abundance ot credit during the year, with abnormally low rates The tendency will be to make use of the credit possibilities and to Tee vitalize business generally.
 All of the predictions offer America a nice way of ending the year 1889. For the most part, business men are realistic; and, If the picture is dark. they will not enter another decade, that the graphs misforecast it. They are hopeful as they will look better in 1040. It is e kind of confidence that spreads quickly