The Wheeling intelligencer. [volume] (Wheeling, W. Va.) 1903-1961, 1921-07-25
IN
BUSINESS WILL
NOT Be FAST.

II the Guaranty Trust company
current Industrial SIrve!. Il Is stated
That recovery rom tho present lnduh-
trial Depression n tSiH country VIII DO
Grhdunl has become tho general? &C
ccplcd D"Ic!. Tierc IN no reason 10 OK
pect tha, n Irr'nh OF business HctiNi'E
..,,rprruhir In Intensity 10 that which
ended "a 1870 - approaching. kecokni-
,,il II the tariu-. which make re'iFR!
slow and d.fT!.ui al! o! the !nc"mpl"t
r"a4 VI the cud!Us:Ecni hitherto el-
f"r;cI IL ~rnsia'"1i. i.'',"I"r. With the
tUr,En- r","rn '."r or = Ion - tina, the
h..,.- ,,t r~ur,>-i business n"'iN''! are
houx ,,rusresS'Ney strcGgthcAe" ana
cAl'a;..i"d
"LrcuInu!a,ed .'oca. D, goods are
hci7E.d"p.r:ed hr "arr'E. consimps!oh'
Retail ;ransact!o:.>. as reported d. r.
p-"--ri.s'I," Establishments. continue 10
.j:r...u.r ! ,uli:nr e turnover appr"x!-
rr.,c., cqTn.tng. md IN rlInE cases sur
rIsrn. ,ha: Of ear ago. Tho m
mediate "1ie-i is Il reduction N STOCKS
~ goods carried cicr from tho period
%hrn rising prizes 'ndw"el an excess"
orrumulati"- n 49, hands q y siripu-
ir-s Ia general. merchants have pur-
sunJ 3ylrry Of hsad-,c-moutL buying
roccrtiy. rrcfcrr owing 7rino'pa al: 10
,!rr,:ta.u'I regarding ne future OF
r-tccs ~ refrain from tho customary
nyrchaee re seasons requirements
r,an.h, N advance. Thu rejection ~
thig role" IS seen in IN" absence ~
rhn-'aEr Of orders placed Win primal!
and ,r'crned!ate producers. Mehn"h'le'
II, absorption hS consumers or Tvs
car-v-oy~r Of stocks is providing
necessary basis for renewed PRODUCTION.
I'm some cases. increased Willingness
m he part Of distributors 10 make COM
,r.,ra.uts for future delivery Is re-
>nrtcd RYi other practice, purchasing
FOR SPOT delivery. has not yet been gem
orally .upy.autrd. II IS quito clear that
rho hes.tauCy or distributors N PACING
advance orders IS based upon the eh-
notation that prices viii recede further
Tho slackcrcd raIc 81 decline In sen
o-,, rholcsal. prICes N recent weeks
and the increases in some prices huCH'
,amnlc as tnoee reflected IN the up
,urr In Bradstrcets index foC July l as
com "a rod with thai for June tine nrs'
increase IN his index s:7ce MAJ. l7%V
has encouraged the belief. eIPresHen IN
man. quarters. that relative staniiza
ton Of prices Is about 10 be enectea'
This expectation may prove premature
hut there can be No oouPt WA 0"' ~
sui, Of such confidence IN IN" future OF
nrlrcs Is n Strengthening Of the factors
,crdtoc 10 effect the looked-for halt IN
their recession.
"The rcadJustmcnt OF production costs
has hc"n retarded ny the fact that wage
have declined loss rapidly than "ho'e-
sale pricrS. Tic !aEI!ng OF wage re.
visions is chara"i"rIst.r q. periods o.
falling prices. 1t IL pccas'on"d IN some
mar, hy the CORES cndinS failure on re-
IaL pr.ces promptly - follow "ho'e-
sale prices N tac downward revision
The persistence Of high costs or llNlas
nrcven:s Il moro prompt readJus'm"nt
~ WACO scales Nevertheless wages are
declining and. generally speaking tho
revision has been effected without eA.
traordinary resistance On the part Oh
the workers.
The evidence that recently retail
prices have declined moro rapidly IMAM
wholesale, points 10 the probability tha'
m. completion Of the necessary wage
Establishments Will be fastened WIN
CONSEQUENT encouragement In proouS-
ton"