The progress-itemizer., 1920-09-03
downward PRICE IS e.
i Il NOW THE PREDICTION

WASHINGTON. Aug. 31.--Busi-
ness and industrial conditions during
the remainder of the calendar year
will be marked by general trend
20 a somewhat lower level of prices,
according to semiannuaI, report
upon crops and business given out
by the United States Chamber of
Commerce. The Committe which pre-
pared the report added the general
financial opinion in the country was
that the readjustment would be ac-
complished, without financial DIS
order CIR any sudden economic cal
amity."
Tight money, unrest OF labor, TIE
lloosened bonds in some phases OF So
cial life, the Russian-Poland war
and the high cost of necessities arr
enumerated as disturbing busine 50
factors but in the opinion of the com
mittee there is no need for the coun
| try to become panicky over any OF
hese matters.
Amid all the cross currents anc
eddies of the industrial situation, q
iefinite trend seems to be slowl,
developing toward a gradually in
creased gain of supply upon demand
and a somewhat lower level of pric-
les, the committee reported.
Here and there mills ave shut
down. Here and there they are run
lining on reduced time 1t is a scat
tered and local matter rather thar
a general proposition.
fThe autom obile industry seems
to be headed toward somewhat les
sened output. Also the jewelry busi.
ness in New England is slowing
down. Contrawise, paS- ills are
busy and full Of orders. Equally is
his true of the metal lines.
whether mining is busy and
prosperous, or the reverse, depends
upon the nature of the metal. Colo
mining still suffers from high cost
Of production 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 pos.
sibilities of supply. Lead is high be
cause of increased demand. Copper
Is dull because of supply not dis.
lposed- of. Iron mining is good. Phos,
lphate mines in the south are doing
well after many lean years. "a
Contraction in financial credits
has put Wild eating in the oil re.
gion out Of business. which rnaifes
business there dull because suppiys
for drilling oil wells are no Tongei
cared for.
Construction and building have
| slowed down because of hlgh prices
and scarcity of both building mater
| is and labor.
| Goal mining as usual has It's
flock of troubles strikes and lack
of cars being the principal ones.
"The promise now, and it is almost
fulfilled, is for three billion bushels
of corn, eight hundred million bush
els of wheat, both winter and spring
and for a cotton yield Of about Il
and half million bales Cotton, how
ever, is not a safe reckoning as yet
There will be more oats than last
year, and more tobacco, which is ev-
cry where good, more potatoes--and
more rice. about the largest crop on
record. More sugar both cane and
beet, and especially a hay crop of
such proportions as should have a
marked effect in reducing the cost
Of live stock and Of dairy and poul-
try products.
From every state and everv sec
ton comes the complaint of the lack
of cars as the greatest of all handi-
caps to the transaction of business,
and one of the moving causes of the
continuance cf high prices.