The Birmingham age-herald., 1920-05-14
Daily Wall Street Gossip
BY HOLLAND.

New York, May 13.-( Special )-In
 none of the explanations which at
 tempt to set forth the reasons why
 business is meeting with some diffi-
 cuities is it asserted that the pre-
 presidential campaign now in progress
 mas had any influence one way or the
 other on business. Tais seems all the
 more surprising because in some parts
 or the country this pre-convenJion
 campaign has become the chief, almost
 the only topic of interest. After the
 presidential campaigns are made and
 the campaign begins, there is likeli-
 hood of some hall;ng effect upon
 business, although the impression here
 seems to be that it will not be so seri-
 ous as has been the case in some of
 the earlier presidential campaigns.
 Among the explanations given or
 suggested for the alleged somewhat strained business conditions is the con-
 gestion upon the railroads. That this
 Congestion is interfering with the
 transportation of food and coal is not
 questioned. But it is almost a para
 dox that in spite of transportation ob-
 staeles trade conditions generally con-
 tinue good Reports came to this city l. is time that some industries have been compelled to slow down on ac- count of difficulty in securing coal In some parts of New England house. holders are informed that there is almost a famine in coal, and small amounts not exceeding quarter of a ton are doled out to regular GUS toner's
 Nevertheless, trade conditions con- tinue to be good. There is no over production and in some industries the improvement has been very great. For instance, the steel industry was able to make the largest record of output n fc in h.n oD,,t1 Nf rrh
 This reflects not only domestic but worldwide demand for American steel products
 When the war was in progress the remark was sometimes made that the steel industry as well as some other industries would find after peace came | that the new plants which were made necessary by the demand of the gov ernment for products needed in the l war might be found idle and perhaps | the construction would necessarily be charged off to profit and loss. But I |. now appears that the steel indus try may have built better than it knew because the enormous output of steel 1 in March was in great measure due | to the utilization of the enlarged and | new plants which were constructed during the war days.
 I FIFTY MILLION TONS 1 It may be that the prediction of | Charles M. Schwab which was made I several years ago that the United | States Steel industry will be able to 1 produce each year 50,000000 tons, all | os which would find ready market, | is speedily to be justified
 | What is known of the steel industry
 as that has been operated during the early spring is also true of the tex ] tile industries There is very large I demand for textile goods and espe- cia1ly of silk. In view of the high pressure to which the steel and textile l industries are now put and especially l in view of the enormous money value | of our exports, there does seem to be | some confusion, somewhat something 1 like a paradox, in the statement that | American business has had hard condi- tions to contend with due in part tc bao weather and pars to the so-called ! outlaw" strike and to the lack or raii- | way equipment.
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