The Washington herald., 1921-09-11
AND TRADE SUNNI
Ranks of Unemployment Being
Financial-lndustrial Resume.


during the past week has indicated decided
turn for the better. Chiefly among the
causes for the better outlook is listed the
favorable Mexican developments, the better
tone displayed by the principal markets, which in
cude stocks, bonds, grains and cotton the Depart
ment Of Labor statistics showing an increase of IoS
per cent in employment during the month of August
the maintenance Of IS per cent of capacity in the
steel industry and the formation of credit plan to
aid farmers by the War Finance Corporation.
Mexican Developments.
Developments in the Mexican situation said
IN high administration quarters to be constantly
favorable. Details of the developments were with
held but the President and his advisers said to
be we'll satisfied with the trend of events.
Wholesale resumption OF work in the Tampico
oil district is reported in dispatches from that city.
Hundreds of workers returning to the petroleum
fields where operations have been resumed
suit of the agreement between large American oil
companies and the Mexican government reached two
weeks ago.
Employment Situation.
An increase 0f Io8 per cent in the number OF per-
sons employed in sixty6ve principal industrial
tiers in August, compared with July was shown by
statistics made public last week by the Department
of Labor The figures taken from the payrolls
of I-42s FIRMS each usually employing 500 or more
persons.
Industrial classifcatons showed that increases
occurred in the number employed in food and food
products textiles and their products iron and steel,
leather and its finished products stone, clay and glass
products, metals and products other than iron and
steel tobacco manufactures and railroad repair shops
All other industrial classifcations show decreases
While it is true that the country has "at last
definitely set out on the long uphill climb to normal
conditions" the statement said, 1T would be a mis-
take to mbue the figures with significance not
strictly in accordance with facts"
Steel Industry.
The in p,ti atoms az heen
noted during the past six weeks is being held, al
though during the week just passed variations
in schedules temporarily gave operators less opti-
mistic view of the situation says Pittsburgh report.
Steel is being produced the present time at about
IS per cent of capacity as against less than per
cent six weeks ago. The plants of the United
States Steel Corporation turning out steel the
rate of about 80 per cent while those of the inde-
pendents are doing somewhere in the neighborhood
Of per cent. During August the countrys output
of steel increased by between and per cent
The trend today in the steel industry is upward but
it hard to forecast just where the Improvement in
the immediate future is to come from. The August
output of steel ingots for the entire country is
timated at about 100000 tons; the plants of leading
interests were operating at about 80 per cent and
the independents about 20 per cent of capacity This
compares with 86s,ooo tons in July and average
operating rate by the corporation of 26H per
against IsH per cent by the independents.
Credit for Farmers.
Preparations for advancing upwards OF billion
dollars in agricultural and live stock credits under
recent legislation have virtually been completed by
the War Finance Corporation, according to their
statement. The corporation probably will be ready
within the next week or so to function under its en-