Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1921-04-13

necessarily encourage further pcSsimism
than already exists. but il does demon
Stratc beyond all dieputc tho fact that
the market adjustment. dcspit" the
continuous shakrdown Of security val
ucs. has not run it's course.
Some of the very shrCwdcst of mar
bet observers. after the closing ycstcr-
day. unhcSitatingly asserted no major
forward movement in the general Nsi
could be accomplished with the steer
shares weak. That group was the buli
IN the china shop and the softncss ni
the entire division was very dIscohc"rt' .
ing as well rs depressing.
Reduction in the dividend Of SioHS
Sheffield Republic Iron aud steel ana
Lackawnnna Steel is quite generally rX-
I nCctcd. The recent advance in prices
mndr by the independents Is looked upon
MS a cold bluff. pure and simple. IN
the opinion of many observers, yestcr
days sinking spell in the stccls fore
shadows both n wage and price reduc-
tiOn. When it really occurs the mar.
kct very likely will 60 up
II. and q. HuStling TO Get Business
Signs that the turn in the tide of
business depression is near Mt hnnd il
the belief Of Baltimore and Ohio Of
ficinlS. This belief is based not on re-
cent car loadings nor the showings of
gross and net revenue. but upon the
llcrcnsc IN the number Of orders taken.
For instance, according 10 these traffic
officers. February was greater 'ordrr-
taking month than January and likr-
wise March CXcellcd February. This
they declare. while not indicating mn
immediate increase in traffic. does por.
tend gradual return TO normally.
Because of this tho officers nrc cv-
tending tn" business getting campnign
which has been carried on by tho ncm-
hcrs Of the Veterans Association Of the
Baltimore and Ohio Railroad. following
President Wizards suggestion tn the
Baltimore lodge of that organization
Inst December that they become traffic
solicitors to offset tho slump in hnsi d.
moss. In this connection. Archibald
Fries. traffic vicc president. has ar
ranged employees mass meetings Mt
some of the principal traffic Cent"rs
through which the railroad operates.
So fruitful have been tho efforts put
forth by the veterans during IN" last
few months that II. q. IInrt2cll. man
agcr Of the commercial development
department. is now directing the cam
IUlEn ntlu IUUPT MIN Tue 'blUull'I ~
| forts of all employees toward securing
traffic for their rnilrond will he CO.
ordinatcd Employees Of every depart
mcnt besides the traffic divisiOn--op"r-
atinG, maintenance. accounting, safety
welfare, ctc.-arc being enlisted in the
movement. through tho impetus given
| It by the 10000 veterans and their
nuXiliarics. under whose auspices thc
| meetings are arranged.
Cotton Manufacturing in China
During the ycnr 1921 il is estimated
thnt China's cotton spindlcs will have
increased to 2,225 ,0O0. The cottoi
spinning and weaving industry for tho
most part ccntcrCd nbout Shanghai
but it is also developing in substantial
way in IInnkow and Ticntsin. MiIl'
Inst year earned dividends as high n
! 100 per cent. One of IN" prominent
Chinese mills have averaged n"arly M
per cent in dividends for tho last ter
years. and one of the largest mills
British owned and operated. shows M
average of 2G.J per cent dividends ov"
period of twclv" years.
As for cotton growing. it is Cstimatct
that the country now produces undc
normnl condition about G,OOO, 600 bale
Cof 800 pounds Ca"h) n y"at. Th" l!l2'
production was pruhah,y 30 por cen
normal. Chnn is improving - cottol
not only in quality but also adding Yer,
materially 10 tn" quantity produced
They are greatly Interested now in tn
improvement Of III" nntiv" cotton whirI
j. 50 different from foreign "nttons tina
il will not hyhridilr. forming prnCticnll,
II distinct species. Thus. white thpr" /
considerable interest in III" develop
ufcnt of American cotton in China. th"r
is q movement on foot 10 improv" th
native CottOnS by the method of Sclcc
tiOn.
Restoring French Silk Culture
The number of silk growers in Franc,
increased by 10000. or - per cent
and the production Of silk Cocoons in
creased by almost 1000. 900 pounds
or 3S per cent. in the yCAr 1870, com
narpd to 1919. according 10 returns re
rrivpd by the French Commission ii
the United States. This improvement
Is regarded "a showing marked progrcs
toward restoring French silk Cultur" T.
itS pre- war importance.
Following the outbreak Of the Worlt
War the number of silk growers j.
France decreased by almost ono. hal
and cocoon productions decreased by nj
most two thirds. The following figure
Illustrate the decline and recovery q
the industry during and since the wa
period
Number 'roc"on ",
sIlk grover duc.lC9, En,o
Mt5ss . 4; %i5.5I555 I55 $5,$5s 5,$5s & &
L,Irurnr, IL. DprruEiulttfHs '..u. ,uI Or,