New Britain Herald Newspaper, December 30, 1916, Page 9

b NEW BRITAIN' DAILY HERALD, SATURDAY, DECEMBER 30, 1916. operation and helongs to private -isk. Government-owned railroads in ’ Europe, where social, political and { I geographical conditions are so differ- ol . . ent from the United States, are no % criterion for us, particularly as none ’ . of them approach American roads in l‘?‘"GAS‘ILU"'\ T. efficiency, low rates or comfort HARTFORD, Rcsult Perplexing Business Situation. . War inflation has carried prices o . SIS . MACKINAW SALE o om ol It is somewhat hazardous to assume EMBERS NEW YORX STOCK EXCHANGE That is what every prudent man that this inflation has reached its Sizes 18 to 46. Were | ll is looking for and expects to Himit. Still higher prices may be $8.50 to 510 00 7 Represented by E. W. EDDY achieve reached, and if so the adjustment M S : City Hall iadi 31 West Main Street, ity Hall Bauilding following later on will be all the more Now - - An account with us is just [l |severe. Suffice it to say that for the A E what is needed, because it gives average business man the future is Telephone 1840 I ; full of extraordinary perplexities for | their possibility must be recognized > 1 centive for prompt L ) recognized, the right incentive for promp which there is no parallel asd through | and doubtless they have much to do : deposits. which no sure trail can be easily | With the present cautionary policy of Dlazed. Caution and conserva- | the reserve board whose control of the 47 interest paid on Savings tism must be the guiding | money market is becoming more and accounts, policy in all industrial and finan- | moro complete. - Briefly then, any ¥ cial activities for the next two years. | bromounced enlargement in the de- INCLL’DES STEIN-BLOCH This does not mean an early ending | mand- for loans would be followed by ’ THE L!gl“ of present prosperity; on the con- (firmer rates for mioney, a fact that M[RCM trary, home conditions are so satis- | Will have to be taken into considera- factory in many respects that under | tion in all future business transac- AND SHUMAN TRUST CU skilful guidance such prosperity may | tions. continue indefinitely with slight in- A Complicated Stock Marks 7 terruption. One source of confidence Stock market probabilities are more | is the banking situation in the United | difficult of measurement than any SU! S AND OVERCOA S States, which is exceptionally sound. | other business operations. Eliminate l l Comptroller Williams tells us that | the war stocks which I think have the growth of national bank resources | passed their zenith, and we have left last two years was three times greater | for consideration the regular indus- and trusts. Railroads, however, suf- [than any other two vear period, and | trials and railroads. The steel issues fered more severely than any other [that the gain in resources was $4,- | still have a future, though 1917 prof- | class of business organizations, prob- | 000,000,000 There was no monetary | its will fall helow 1916. Speculation , ably because of their intimate rela- |inflation and no dangerous expansion [ in coppers has certainly been over- tions with the public at large. Be- |of credit. Our Federal reserve sys- | done. In the petroleum industry there {ween the upper millstone of op-|tem is working very satisfactorily | is remarkable development in prog- pressive Federal and State legislation |And possesses banking power which | ress because of the automobile, and and the lower millstone of labor de- | Will prove hly advantageous in | these shares are accGitionally strength- mands and increased expenses, | event of a crisis. The policy of the | ened by the hope of a revival in‘ex- ierican railroads only escaped se- | reserve board in seeking to influence | ports when the war ends. In _the Jious financial difficulties, if not bank- | Other banks will also prove beneficial, | chemical industry there hasy been Krnp[cx», through the timely revival of |if isely exercised; and the dis- | phenomenal expansion owing to p‘hu?- business which brought them general | COuragement recently given to Amer- | ting off German imports; but this is prosperity and averted an Imminent | €2 investment in British treasury | an infant industry that will probply anie Last year their total income |Notes. though rather awkwardly done. | be unable to meet forelgn competj- 320“0'“03;:;“2?,‘”_31",'3;’3“,“;,‘.““‘n‘f,‘,.@(_m,pmd of caution. The action of the Ted- | movement for higher duties is start- e e e e eral Reserve Board also in making | ed in congress, its most plausible ex “ $1.088. | Struck a prudent and necessary note | tion without a favoring tariff. If a \ I - |l\|m"h $1,098, m\\ |.| h g ) increase : ! ; “onnections wi 3ank D) cuse will be found in this direction. It natl is| largeq but inkviews of latgel| connectionshwithithe SEanIGiofEIing & & C land is another step of great signi- | The better outlook for raflroads has B e e il onas oy Hiabor | blel proot ihatithelUnited\Btateshhas |Dartlof! this irevicw, Minfconsidering T < “;’(‘]’"a ‘,'"'::f"‘:,"“p“‘mr"‘( e ety il oo | gained a new position as a world fin- | the capital market it should mot be 1 ; (i _Re’)lew For L Jasie. fonte A e | ancial power, and that while London | overlooked that the fotal new security ear 0 191 | creased, while § unfortunately state |, . ‘1. over its former prestige, New | issues in the country for the last 0 and federal commissions Imposed Te- | yori has advanced in rank as a | twelve months was about $2,174,000,- straints and burdens Which impaired |}, ing power more than any other | 000, compared with $1.435,351,400 in (Special to the Herald.) 000,000 of horses and mules, $25,000,- | neir Profits until resources and credit | ;jyy in the world as a result of the | 1915 and $1.436,517.900 in EhosAvar. 000" of boots and shoes $32,000,000 or | Vere SO crippled as to make it im- | .,; 1t will also greatly facilitate | that we have absorbed about | York, Dec. 30— The year 1017 | Woolen manufactures, $50,000,000 of | POSSiPle »fm'] e lranfvorm“_fi_"d“""“ business between New York and Lon- | 000,000 of “foreign owned An;\or\_(“n\? with the mind of the world | 2Utomobiles and $14,000,000 of barbed | (0 secure the capital =~ required 10| gon; render less necessary the clumsy | securities since the war hoa—n—n.nof&j](n%.’ g for peace. A year ago it was | Wire. besides millions in a variety of provide ne l:mf’r‘fl(_ or Improve- | oxpedient of shipping gold and tend [ loaning Furope abouf §1,750. 000, | bent upon war; now it is more [ other articles intended for war pur-| MeNS- . In 1909 the railread capital | (o make New York the central re- | These figures display an astonnding | ore devoted to seeking ways | POSes. Much as the demand for war iDPlications were estimated at a little | cerve institutions of the country, free | ability to supply new mmml.”m i | heans of bringing the ghastly | Mg “ials stimulated our exports, the| 0Ver $300,000,000 -“;""}\“ and $700,- 1 o¢ the political. objections to a cen- | ity that places us at once in the ront | e to @ close. There are those | inclease in legitimate export trade was | 000,000 bonds. In 1915 such applica- | tral bank. This country now has an | rank as an international =monetnr, formed who believe that peace | far more important in value. In | tions had sunk to $22.000,000 stocks | enormous stock of gold on hand, es- | power. They will also profoundly af- rer than commonly supposed, | Products having no relation to the war | PUt risen to $757,000,000 bonds. This | timated at $2.700,000,000 and it will | fect our foreign exchanges. Ie‘sspn our e Germany is prepared to make | OUr exports were valued at $3,170,- | tendency toward shrinkage has been ) je easier to protect this supply if | annual payments abroad anc x.;rvh'.’n - concessions | than | expected; | 000,000, compared with $2,175,000,000 | 80Ing ol for a series of vears, reflect- | necessary when foreign ftrade re- | towards changing us fiem a debtor bthers as confidently claim that | in 1914, This was an increase of one | INE the distrust of investors in this | sumes its normal flow: that is when | to a creditor nation. Events ny<\"(‘»n‘“_ ny will at present propose no | billion dollars or nearly 50 per cent.| 1258 of securities arising almost en- |imports rise and exports fall to more | pelling us to fhink and act interna- that the Allies are willing to | in our legitimate trade. About half | ti'ely from the political conditions | natural proportions. Further it will | tionally more and more. s The Jlatter class of believers | Of this vast increase went to belliger- | JUSt referred to. Tn the eleven |tend to remove the arritation pro- HENRY CLEWS ¢linc to the opinion that if | ent Furope, the remainder being scat- | Months of 1916, stock issues have |voked in London by our refusal to t peace movements fail, in |tered all over the globe. These figures | "¢en $109,000,000, bonds $348,000,000 | take more British treasury notes. In f their strong support by neu- ! Prove that the war gave our exports a | @0d notes $300.000,000, indicating a |all probability similar relations will Ltions, the war with-be resumed | (Femendous push forward, and the | PATHal revivaj of interest of investors | be established with the other great | Set Sail for Florida IFrom Iere— i sides with increased vigor and | Vital question now is, will this rate of | in railroad shares. Thefe has been |banks of Kurop Pates Announced. B ess. An inconclusive ending | progress continue There is no sound | !ittle new addition to mileage or facil- Do itions. ; e itle i Financial Conditions. 2 B e war would be disastrous.to civ- | reason for anticipating any disastrous | itles for several vears. and the prob- | o0 F 0 B0 T BT L Philadelphia, SC S0 = snring n, inasmuch as it would not un-. | reaction. Readjustments and loss at 1_em of securing adequate new, capital 3 twith 3 z training of the Philadelphia National precipitate a second war as soon [some points must be expected when | IS the most formidable problem at |encouraging, notwithstanding nnum- |, . o0 ojup will begin March 9 at St. most aggressive helligerents | the war ends. But the war fs not| Present confronting railroad man- |erable perplexities arising from the “887 8 F 07 G DR LT ntly recovered, hence an abso- | ended and a long period must elapse, Increased facilities are need- ['war. As peace draws near extensive | ;oo (Cqac The team will leave nding, copper-fastened settle- | even if negotiations are soan opened,| ¢d. The government certainly ‘can- | ..qjustments will become necessary, | New York by sctamer for the training nust be attained, including all | before 4 peace treaty will he signed, | N0t provide them and private capital | " g O et e g ) B ilizcrents. and the millions of men now in the | Will not so long as the government | Which may |m,( neos ‘;‘m".m‘n“ incon- \*é PG BeRT B e e trenches return to profitable industry, | foces increased expenses and dimin- | Yenience and loss. It can be taken S Lt b B Furthermore, the energies of the war- | ished revenue at the same time, Pres. | [0F granted that the war industrials | the Florida grounds, but several will | coming vear will be Tree of one | ring nations will be fully oecupied | ent trafic is abnormally good, hut | Will not revel in the big profits of the | be plaved on the homeward trip. On| \ ‘ See 1h at th ; > of o1 ) | dot S s S Tl 2 Phillies will play at | uncertainty, the presidential | when peace comes with reconstruction | When normal condifions return the | PASt vear .or so; increased costs in | April 2 the Phillies will b | e1m e | V'e iti 3 i - vag raw ials ' L bus, Avpril , Charlotte, h. - We mow have four years | of cities, mills, railroads, mines, ete, | situation will again become critical | WAEeS and raw materials preventing | Colum 1 ini ion w il ; ¢ such re < as fostere: i \. (': April 4, Raleigh, N. C.; April 5, 1‘ I under an administration whose a & ‘i | § = any such returns as fostered the wild | N. C.: April 4 B i h &ir hose Jon a vast scale. There wil be a big | unless relief is meanwhile afforded. speculation of 1916, s Durham, N. C.; April 6, and 9. eS. € cs Domestic Politics. s are as well defined -as it is | demand for labor in Europe, and our | Fortunately, there has lately been a Qpexations for t to have them. President |fear of an invasion of cheap foreign | change for the hetter in public opin. | (M€ Fise in ‘°'"d"'°d"_'es wiiL .a,]“' Do IRl ::Rf"f,\?(,",,',.\. o e et was able to carry out in the |labor will prove largely groundless for|ion towards the railroads. and the lat- | S°™M¢ "“?Té‘vqnn v]n“:}(;‘ ha “\_‘ ‘j""-‘] '?1 e s Mfi_h'fl Tastmeah | “\‘ T 7 l b Dromises’ of Mg first term; | the reason that wages there will lhave | ter how have a much better prospect | PERCe Araivs nizh. for as veual hieh | Sttipish Who, M Ind (b el (o ,N}hm L }mm“ \ )mdv,[}/ [4“} ether his successes are liked or | to be adjusted to the higl vost of securi jus: 4 - | REces 2 z a £ = i &Y & SO bl '{a Yiifoea] 5 iahogast Jor ecuring Just treatment than at| ;. ijate production, not. to speak of | league. would seem the part of politi- | jiving, plus the huge et e, ol the temptation to discount the ap- | —_— burden of new | any time during the past decade sdom: not to attempt any fur- 2 ; e flosnar o SHenmt o w7 | taxation under which all Burope will | Nothing occurred more effective in | tho temPralen fo gucoutt Lo eh = : cperiments until general condi- | have to str i B S F ot ! ; Seb din| e T 3 D ey Soneral domdi~ | have to strugsle. The fear of dump- | bringing about this change of opinion | Paciel T ere Giture . uncertaintios | F-YVOR INCREASE OF OFFICIALS. NOTICE It You Want Good Bottled B W2 et by the upheav ing of foreign goods on American mar- | than the unreasonable demands of will be greatest. If we differentiate New Haven, Dec. 30.—Contrary to Beer, Wine or Liqu TS, Bl biuxcat for-severall years B ooy oo also beep vastly exageerated, | rairoad emploves, “followed: by thel|the situation ang venture into fields} expectations there was mo objection | ; in Wet Wash havl 4 sl sk i eans ot now aaritioar capett, | And there is no doubt but that the | threat to tie up the railroads of the | jesss sffocied byl the war, the pros. Offered by business men or taxpayers | [The New Britaln Wet Wash having Order Same from not o few of which will be | ored States will be able to hold af country If not complied with. This | C5. "Vl he found more assuring, | In this city, (o a proposition now he- [ MAve? inte ther mewly SOWMINE | Ly rp RARDECK L6 when tricd out. Wi need |.18#8¢ portion of its newly gained ad- | hold-up awakened the public to the |imis is consptenously irue in home | fore the aldermanic board to in- | Pullding ave prepared to do M= &ins = vantages and probably make still | seriousness of the situation, and the | Ll .S CONSI . 4 {crease salarles of many of the city | "ok We sollelc your paicags 5 Arch St. ‘Ph 482. rest, and there are cnough st e s . 5 ik affairs, where there are yet no con & @ @ Satisfaction guarantced. 30 Union 185 Arc one D, [uestions ahead to fully tax all | STCAEr progress during the next|latent spirit of fair play which fortu- | apjeunons indications of the present | office holders, which was the subject 2 lity and strength of the present | (020 .”r‘f'“’,“‘"‘““ there will be|nately existy in the Amerlean publie | uve of prosperity . recedin Our | Of @ hearing last night. On the oth- s wihout multiplying trouble »(““_"H'”” \!:!‘fd\m ‘\::a‘l Rc?tmfwemm”l. (};flmn to the rescue. It is premature, | ygricultural classes are enjoying ex- | er hand endorsement was given to jeoti & : Rl Glerms ar irea ritain = w owever, to assume that tr S il 3 3 i T lan of 'y g ¢ s jecting a new set of nostrums. | o at the roads |{mordinary prosperity owing to high : the plan of increasing compensation p e - strenuously. endeavor to regain mar-| will o - e : rao ary [ 4 : dministration might with ad- A il henceforth have clear sailing. | prices for all far roducts which ( by several promMment husiness men [lVl e am al n ecatur lg ad- | 1ets lost during tr e ; . | prices for all farm products h : o turn its attention to checking | mtis ":’”“;‘:‘h‘_v“‘t“”w”‘(v“‘f"f;d ‘Q‘Y:“‘»‘:fl_fii The action of the brotherhoods in in- | afford a large margin for deprecia- | One argument advanced was that pri- ’ il extravagance. During the | IS THeAnS that the United states will | sisting upon operation of the Adam- | {jon. The same is {rue of many in. | Vate concerns pay much better sal- year 1t 18 estimated that the | (000 0 Thuropean goods canmot s | son law before announcement of the | qustrials not dependent directly or|aries for the samc duties as per- al wa,y ]g t 0 's expenses will be from $300,- : annot be | gecision of the supreme court creat- | indirectly the war. The buying | formed by city officials in questi E marketed at ante-bellum S For At- | indirectly upon the war. g question. b %o 400,000,000 n' excass of | Arketed at ante-bellum prices. Tor|ed an unfavorable Impression, mas: | ewms o i misses Wi heen Breat: i rhi eficit may 1 B @ st, this Y tween railroads a N e : : ~ JEr = ihe deficl gy be oR- [ will export ‘large uuantities of steslllranen as it techers tnaior: The iy enhanced byl ndvances in wages, MAYOR RICE IMPROVED. Consolidated & Refunding Collateral Jaiitced ' paviior fgovh| D SXDOM TACRE Auaniiies of steal as pens the breach be- |while extraordinary profits accumu- Int emploves, as well as by ex- L tween railroads and labor. The roads . et o selimercantile New Haven. Dec. 30.—The tnorning ust due 19028 I il struction purposes in Europe. In |, : ads | lated by owners of la nerca 2 ! ; ] g Trus 5s 93 appropriations i blice] AEcons are also still gravely e i N A p bulletin on the condition of Mayor appropriations for pu all probability the war will be followed gravely embarassed by | and industrial plants created a huge 0 o layor s, rivers and harbors. These y & dual state and federal re Sl Wi g iting in~ | I'rank Rice, who was operated upon e iiow the hoavy inbréases for | PV 'a period of ‘warldwide ‘expansion | al regulations, by | reservoir of new capital awaiting in ur E | ; q S ! and activity, which will al T | frequent municipal requirements, by | vostment for intestinal trouble carlier in the The Company controls electric, gas, street railway _and, my and navy, necessitated by ;‘a“r‘g;x‘_“ ‘;;)Ilgr“"“v“i"'io“‘ fora "‘\’m:":m(: high wages and dearer materials, | In all probability 1917 will witness | WWeek. indicated that his condition was public heating systems in the Illinois cities of Danville, fire % and will impress American | whion w S 2 g At By Ces | casier. Yesterday an : - ~ . 7 “;“_"('_!o“:m‘w u:: fflc““‘ha(‘i‘;“;ff: manufacturers, It is not to be sup-| L Ll When traffic settles down to | the launching of many fresh ventures d the day hefore Champaign, Decatur and Urbana heavy inerease in taxation that | Posed that the ablest bankers and normal volume may prove seriously ! that will keep labor well emploved, sinking spells made the attending ove more hurdensome when | manufactyrers in the country would inconvenient: for it must be remem- | and scarce also, for no large immigra- | Physicians doubtful of the outcome These public utilities have been in successful operation for i mburansoms aheny) e AR e e bered that the roads have not always | tion from Furope can he expected for | at ‘,,.:l:];\m(]:, ::::4‘vl-=r-mm]w . Mayor many years and are under the efficient management EoDo ’zvh- ‘lrr Already under con. | securing foreign markets unless they Deen able to compensate themselves | some time to come. As for mercan- ibhtedltts hm*um‘nm“xm”l“"(l‘“ ]r\ of the Illinois Traction Company gt O ‘}; 'd issue. an |had the strongest reasons for antici- for increased expenses by raising the | tile distributors, in the majority of Hl phne 2 eumon!s which fol- ; . OR, .the‘ ‘"' % ] ‘l’_“‘ Sand to. | pating suecess A moment’s reflec. | CNAT8e for their srvices, as has been | cases these are carrying light sup- a\\m‘ he use of anaesthetics for the The value of the physical property, according to an. ap- rease it ax on liquo o- ss. A ; = i o Rt : : . ation . 2 % :: :I\l -i“.‘m“: i:‘ rhlol mrhermn” ilon witbidaode Uikt 5l lonc pract done in every other industry. Pl | plies, fearing to stock uy ;n ‘!\ILh "‘P‘ ) . praisal by Messrs. Stone & Webster, is more than 1% - extension of the income tax | industrial and financial leaders are ":”‘?“.1 will not have been .done to | prices; and bankers generally sl times the bonded debt miallor incomes ,and the raising | deeply impressed with the oppor- | [nC railroads until they have been re- [adopted a cautious poliey W EVAN | o \yrip 10 CLEAR SIDEWALK e tariff on imports, including tea | tunities for export trade, and the next | 16Ved of hostile resulation py ingi. | ing commercial credits. Thus the nerl- | D, Y ¢ SWALK. o orts, inc i Z vidual states, or until they gz cultural, industrial and mercantile | John Sloan of Liberty street, coffee. There is also a strong | decade promises to see great progress 5 ~ 1 v are al- & : L gl iy R HLEETes ment for a protective tariff on | on the part of the United States in the lowed to recoup themselves, hen | classes are generally in sound and | Herman Vogel of 124 Rockwell ave- 2y 6 @ o " celds b 0 o7 ement T i ates i i rosperous condition. Finally comes | nue and Michael Girsburg of 420 rice 90 and wnlerest yielding about 5.327% Piicais, and in all jrobability there | foreign field. Succe: is inevitable, | DeCessary, for inevitable increased e DIOSHETOUSRS L i e Bé b strong agitation ere long for | provided capital secures the hearty ! PeNSes by better rates; in other words, | the financlal outlook, the least salis-| Church street appeared at police eral tariff revision: though ad. | co-operation of government and labor, { UNtll regulation beconies in telligent | factory and most perplexing of any | headquarters hefore court foday to o BReclivacds Wil bo less unset-|'both .of Which hitherto have been so | R0 just. The question of govern. | fivision In our economic machinery. |pay & 32 assessnient each for failure Mel’l’l dham & Com an B e b tho reverse. A | untriendly - Horelgn ‘trade, as T havel| Ment ownership crops' up withi in- || Tiemendous activity of business _at o clear off sidewalks in & manner sat- E L T * ol high prices led to a huge increasc in | isfactory (o the patrolman on the | | gIE6 {fiat should not he over- | remarked bofore, Is purely o matter of | SEe3SIAS Lreduency, but this country in | o 50 R Gha “loans, entimated In the | beat 35 Congress Street Boston i ? " e e wi not yet prepared or able to s sly SDOS IS g i ¥ e the Mexican prcblem, which | international barter, and If we wish to ofserlonslvl IS8R e statementiatiover jom being solved and may in- | sell we must stand ready to buy; re- ¢onsider such a tremendous expan- [ % 1000000, for (he twelve months, n outbreak when least expected. | membering that all impediments| Sion of government activities. Our “;i‘lp Rl e reaervel during the | Forcign Trade Markets, placed upon such interchange cause | railroad development, if granted rea- | Whi' ‘N CRCUSE FERATVE (UL | gding progress has.been made { loss somewhere, and usually upon | ®onable opportunity, will provide the | {{o Hisdeclinel indrescr bes nacessinl chi v infli i necessary new facilities ar e 3 = reign trade, which during the | those who inflict them. American yanewis facilitles Bl rarsimorel] 0 e e Pttt lide | especlally Connecticut Trust and Safe Deposit Co. ar ending January 30th e industry passed the infantile stage | Promptly than government, which 4 as the reserves will be exposed to still SCRONG, RELIABLE CORP i that of any other country in |seme vears ago and is now in a stage | COUld not afford o assume the risk. | oy the; Ganteion on the tarme efteet | 4 ARSTRON GIStE &£ CORPORATIOX Net earnings exceed three times the bond interest fld, Before the war this nation | of vigorous vouthfulness, quite ready| Government ownership may work in , ool & = L 3 3 v 3 f new legislation mext November o thro third amang exporters, now it | and eager to meet the older nations | smaller countries where transporta- | mye. aree sum . made available for organized and qualified ugh years of cfficient, Our total exports in the|of Europe on equal terms. tlon facilities are practically com- [pani credits by the federal reserve | trustworthy service, to act as Conservator, Guardml fyentioned were $4,333.000,000. B Hidter Matiriut Gadibon. pleted and where political conditions | system has been entirely absorbed, so | A CA'PSULES ; Executor or Admimsrrator. with $2,768,000,000 the year are more favorable than in the Unit- | {00 have the huge gold imports of A L Biore than half or 2,646,000 Very significant changes have taken | ed States. The growth and develop- | tne last two years, Tt is quite evident, | | CAPITAL $750,000. SURPLUS $Z our exports ‘went to the bel- | place in the railroad outlook during |ment of Australia has been distinctly [ therefore, that a further expansion of nations alone. Of this lask|the past twelve months. Corporation | retarded by her government-owned | Joans on a large scale will be inad- c t_ t ,i. t d S f p i A g ans a large scale wi be inac 07,000,000 represented ex-\baiting is no longer as politically | system of railroads, which for lack ) visable, particularly should a deci- - onneciicyl st an afe ) and flrca_rms, while we |profitable as it formerly was, a state- | of private enterprise has always been | sive change in our foreign trade bal- ) P M. I, WUAPLES, Prest. the warring nations $272,- | jyent that applies to railroads quite | behind requirements. Building of [ ance force gold exports. These con- brass and copper, $79,-|ad freely as to big industrial concerns | new lines is essentially a speculative | tineencies are not imminent, but e e,