Evening star., 1921-07-30
Special Dispatch to The Star.

Special Dispatch to The Star.
NEW YORK. July 30.-The swing
of the pendulum has started upward
in the steel industry and while it
may not have attained great momen-
greater production. This fact Is con-
firmed not only by business dis
patches received here within the last
twenty-four hours. but by the atti-
tude of the steel men themselves and
of bankers closely interested in the
industry.
Plants are resuming. more stacks
are being blown in various sections
and more men will return to work
August 1. The demand for steel prod
ucts is being enhanced by continued
increase of railroad repair shop forces
and by entry of automobile dealers
into the market, the Ford Company
leading with a big order for steel
sheets. Prices are soft, competition
is keen and there is decided tend
ency to shade scheduled prices very
materially. but bankers and steel
men agree that the most backward
of the great basic. industries has
begun to put better foot forward.
Less Hand-tO-Mouth Buying.
The condition of two other great basic
tile trades. has become assured with
in the last week. Each has settled
down to capacity production, but not
on orders. which will keep wheels
turning from now until well into
1922. This has had a far reaching
ness. The approximate stability of
prices in textiles ad dry goods has
reasSured the jobber and retailer. who
are showing an inclination to abandon
hand-to-mouth buying and to con-
duct business along more normal
lines with longer contrcts and larger
future deliveries.
Automobile construction has shown
most satisfactory increases in both
high and low priced cars and trucks.
The second quarter of the year show
ed the output of the first quarter
the six months only IS per cent below
that of 1920.
: Wage Disputes Abating.
Wage disputes. the obstacle which
has checked the progress of building
construction. show signs Of smoothing g
out In widely separated localities
craftsmen are accepting wage de-
creases and returning to work. Sue
cessful flotation of bonds by states
and municipalities has insured ex-
tensive programs of road building and
construction of public works through
out various sections. which will go
far toward solving any problems OF
unemployment.
The wheat movement is sweeping
gradually northward and eastward.
and while farmers in some sections
complain at their margins of profit.
they are selling their crops. paying
their debts and making long-needed
purchases. Raw wool is moving much
more freely and leather is not only
higher. but in better demand as the
shoe factories are extending their
operations.
Collections have improved in the
ma iority of the sections of the coun-
try. People are paying their debts.
and they are not making new ones so
rapidly Banks are full of money.
and the majority of the bank loans
in many sections are renewals.
Retail> Trade Grows.
So far as retail business is con-
cerned. the volume of trade has been
greater in nearly every part of the
United States for the last two
months than it was in 1920. In this
section there were IL per cent more
transactions in June than last year.
and although prices we're 20, to 80
per cent lower, the net returns to
the retailer were only I per cent less
in June than in June, 1920. Com
pared with June. 1919. the sales this
year were 90 per cent greater. al
though price levels were about the
same.
Foreign demand has made its ap-
pearance for lumber. grain, cotton,
wool and rice. The non-ferrous met
ais. however, still remain dull and
stagnant.