Mohave County miner and our mineral wealth., 1921-01-08
MONTHLY REVIEW OF
 BUSINESS CONDITIONS

of 1920 was F per cent greater than during the corresponding period in 1919. Nevertheless, the net operat- ing income of the roads has suffered a continuous decline since 1917 on ac- count of heavier maintenance costs in which war taxation figured.
 Sufficient time has not yet been given to reasonably establish the op- erating merits of the Transportation Act, particularly in view of the bus mess readjustments that are now go- ing on, and the further fact that dur ing the framing of this legislation, two thousand railroads had to be con sidered, the condition of which varied more or less one from another. The best that the framers of the Bill could hope for was thate the we'll being of the railroads as a whole and the transportation interests of the coun- try might be properly safeguarded, and we believe that this has been ac-  complished.
 MOTORS AND TIRES-The value and importance of motor transporta- tion is clearly demonstrated in con- nection with the consolidation of the rural schools of California, which has been fostened by motor busses to such an extent that this class of equipment hase become the logical means for school conveyance throughout rural districts, and leads up to Statewide movement of consolidation, among the advantages of which may be enumerated the availability of more competent instructors, larger and more regular attendance, and the wid- CT range of studies. This opens up wide field for the use of the motor bus, which will result in materially in- creasing the demand for motor cars.
 Manufacturers and dealers are look ing for renewed activity in the auto motive industry, directly following the National Automobile Shows, to be held this winter in New York and Chicago, and are confident that the 1921 Shows will turn the tide for the industry, as they did in 1919, when a prosperous period followed, such as we had never witnessed before.
 It is estimated that the tire com- panies of the United States are now producing at the rate of six million tires per annum, or less than 20 per cent of the normal consumption de- mand of the country, the minimum consumption being estimated at thirty million tires year. The supply now on hand-that is to say, in transit and 1 in branches or factories-is mt over twelve million tires, and it is doubtful if another cut is made in the prices before next summer, when manufac- turing costs can be based on present low material prices, as both banking and trade influences will be- directed to the stabilization of prices, and it will be suicidal to inaugurate price cutting campaign.
 Manufacturers calculate that by next August the present surplus of tires will have been greatly reduced.
 GRAIN TRADE REVIEW-Severe breaks in Wheat prices the past month went hand in hand with adverse eco homie developments, while occasional reports of a good export business at the Seaboard and Gulf gave consider able strength at times to the Wheat Market, England, Italy and Spain being the largest buyers. A strong feature in Wheat toward the close of of the month was the purchase of g. OOO,OOO bushels by the British Con- mission and 100000 bushels for the Continent. Seaboard houses also bought Rye freely and the export de- mand for this grain was good.
 The main factor in connection with recent advances in grain values was the passage by Congress of the emer- gency tariff bill restricting imports of grain for ten, months, and the Farm Loan bill. Wheat was, of course, af- fected most by the tariff bill, and Corn and Oats in a lesser degree, as they are essentially domestic propo- sition; very small quantities of either are ever shipped into this country, and last years crop of each was an unus- ually large one.
 The Farm Loan Bill may cause