The Richmond palladium and sun-telegram. [volume] (Richmond, Ind.) 1907-1939, 1920-09-01
PRICES DECLINING
SLOWLY But SURELY,
SAYS US. CHAMBER

WASHINGTON. Sept. business
and Industrial conditions during the re-
mainder OF the calendar year will be
marked by definite trend to a some
what lower level of prices" according
to semi-annual report upon crops and
business given out here by the United
States Chamber of Commerce.
The committee which prepared the
report added that the general financial
opinion in the country was that the
readjustment would be accomplished
without financial disorder or any
sudden financial calamity"
Tight money, unrest of labor, the
loosened bonds in some phases of so
cial life. the Russian-Polan war and
the high cost OF necessities are emu
merated as disturbing business fac
tors, but, In the opinion OF the commit
to become panicky over any OF these
matters.
Amid all the cross-currents and ed
dies Of the industrial situation def
Unite trend SENS to be slowly devel-
oping toward gradually increasing
gain of supply upon demand and a
somewhat lower level Of prices" the
committee reported. Here and there
mills have shut down. Here and there
they are running on reduced time. 1t
Is scattered and local matter rather
than a general proposition.
THE automobile industry seems to
be headed toward somewhat ,lessened
output. Also the jewelry business in
New England is slowing down. Con-
trariwise, paper mills are busy and full
of orders. Equally is this true Of the
metal lines.
Mines Are at Variance.
Whether mining is busy and pros
porous or the reverse, depends upon
the nature Of the metal. Gold mining
still suffers from high cost of produc-
ton and the stationary price of gold.
Silver mining feels the effect Of the
decline in the price of silver. The price
OF zinc is low and the demand not
equal to the possibilities Of supply.
Lead is higher because of increased
demand. Copper is dull because Of a
supply not yet disposed Of Iron
mining is good. Phosphate mines in
the South are doing well after many
lean years.
"Contraction in financial credits has
put wild eating in the oil regions out
of business, which makes business
there dull because supplies for drilling
oil wells are no longer called for.
Construction and Dulldlng nave
slowed down because of high prices
and scarcity of both labor and mater
ials.
Coal mining as usual has its flock
of troubles-strikes and lack of cars
being the principal ones.
Big Crops Promised.
"The promise now, and it is almost
fulfilled, is for 3,000,000.000 bushels of
corn 500, 100000 bushels Of wheat, both
winter and spring and for cotton
yield of about 12,500,000 bales. Cot
ton, however, is not safe reckoning
as yet. There will be more oats than
last year, and more tobacco which Is
everywhere good-more potatoes
more rice about the largest crop on
record More sugar, both cane and
beet and especially hay crop OF such
proportions as should have marked
effect in reducing the cost Of livestock,
and of dairy and poultry products.
From evry state and every section
comes the complaint of the lack OF
cars as the greatest of all handicaps
to the transaction of business and one
of the moving causes of the continu-
ance of high prices"