Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1921-09-12
FARMERS OF COUNTRY
FACE ERA OF PROSPERITY
August Wheat Exports Quad
ripple Those of Same Month
i'll Prc.War Years.
LITTLE SPECULATIVE HUyISt.
TillcrS OF Soil Once More Are I'm Pos
session OF Funds. and Their 'r,r-
CHASING Power Soon VIII lie Rc-
ncctcd In Increased Activity
LITTLE SPECULATIVE nuylNc
By Walter -. Brown.


NEW YORK. Sept 1I.-Secretary
OF Commerce Hoover. from his sur
vcy of the agricultural situation. be-
liovcs the farmers will again soon be
prosperous. From August to Au-
gust II, the exports OF American
wheat have been 1885. 900 bushels.
which Is four times that OF August
in pre-war years. The wheat has
been bought almost entirely by mills
and foreign exporters and there has
been less speculative buying during
these grain movements than ever be-
fore. Independent of the takirgs for
export. the farmers marketings have
been enormous since the movement
began. and have helm greater than
ever before within given period.
All of this means that the farmers
are once more in possession of funds
and their buying power will very
shortly be reelected In an increased
industrial activity.
Practically every one is now talk
ing optimism. which is an excellent
thing in itself. Actual depression of
more than 20 per cent. even in com
parison with last year, which was
abnormal and not proper basis for
comparison. There is tremendous
buying power In tho country, which
has simply been quicscent for mum.
Der OF months past and which needs
only the stimulation of renewed con-
idcnce TO set II once more in motion,
III the impetus comes from agricul-
tGral prosperity. which is the natural
beginning for such n movement. the
country at large will soon begin to
feel it's effects.
!ilrcndy * Noticeable.
Something of this is already no.
ticeable in the Improvement iii the
iron and steel markets, which is suf-
hcicnt to be duly noted by the con-
sentative trade journals. Pig iron
has advanced slightly in price. partly
due TO Increased demand, hut also to
refusal of the furnaces to continue
to operate below cost. The demand
for steel is noticcably improving and
while ii has not as yet got to the
point where II can be reflected in an
upturn in prices. II is showing itself
in decrease in the unemployment
In the steel trades, and which must. Of
necessity. have a corresponding in
tuence in the other trades in which
steel is used.
There is already an Improvement
in building with some rather am
bilious projects that have been held
in allegiance being rcstarted and with
renewal of activity in the building
of dwelling houses. The figures pre-
sentcd to the American Iron and Steel
institute by thirty companies, whose
output represents approximately 81
per cent of the country's total, placed
me steel ingot production in August
At l.l3S,oIl tons, which is an i'm
proNemcnt over the low record OF
July, when the production was only
SO33I6 tons. as compared with 1,OO3,-
400 tons in June. While these figures
represent slightly less than 30 per
cept OF capacity and are lower than
actual production In any year since
1908, II represents an encouraging
increase over recent prospects.
OIL Outlook netter.
The Mexican oil situation has TIKI
en- decided turn for the better. and
the conference of the presidents OF
the American oil companies doing
business In Mexico, with the Mexican
government officials. last week in
Mexico City. has resulted most salts
factorily. \ basis OF understanding
has been reached, the details or
which are not as yet available bur
which. taken in connection with the
recent decision Of the Mexican Su-
prcme Court. which ruled that the
famous article 81 or the Mexican Con
Stitution. was not retroactive, has
hrough; the oil stocks back into
favor and is responsible for a sub
Stantial recovery. More than"'rhis
President Harding expresses the be-
lief that il Will now he possible to
clear up the remaining differences
between the two countries so that
the Oregon government can he rec
ognized by the United States.
The railroad situation is STEADILY
Improving and car loadings have in
creased. which. OF course. is natural
NJ the height of the crop moving pc
Rod. The President is determined TO
use every means within his mower to
release working capital 10 the rail
roads by the payment Immediately of
claims which the roads hold against
IN" government. The ADMINISTRATORS
bills now pending before the Senate
are likely to encounter some diftl-
Guilty. as what is known as the auri.
cultural bloc. comprising the Send
tors from the agricultural districts.
are said TO be determined TO use IN.
btii as weapon to secure tariff con-
ccssions for their respective locali-
Ties. This. of course. is politics but
IT is doubtful IL any great harm will
result from such compromises "a
might he affected
p-Mzrrz.ssozuzsz... ...zz.spes..u...s.ss