Evening star., 1921-10-08
Special Dispatch 10 The Star.

NEW YORK, October S-Bfack gold
is pouring additional millions OF its
riches into the Golfers of the country.
The increases in the price OF crude
OIL. which in some localities have
reached IS per cent in the last ten
days. have changed the operations of
many engaged in the great basic in
dustry from a loss to a profit and
have chased threatening cloud from
the business sky.
| But the significance of this rehabil-
| itatIon Of the oil industry is broader
! than that, for it Is based to large
! extent upon the improved conditions
in scores of other lines of commerce
and manufacture; That fact ss has been zee
patches received within the last
twenty-four hours.
The oil operators could restrict
production to a certain extent and
did SO, but only substantial increase
| in consumption. due to the speeding
! up of other lines of business en-
deavor. could bring demand and sup
| ply close enough to win the universal
| increase in oil prices. The situation
also undoubtedly indicates broader
world demand for fuel oil and lubri-
! cantS.
: The situation of the railroads also
dustrial situation. Produce and per-
ishable freight are moving in tre-
mendously increased volume. Roads
| bare Of refrigerator cars are handling
these ShipmentS in ventilated cars
and. in addition TO increased activity
in repair work with attendant ac-
tivity and employment in the shops,
| many of the carriers are ordering
| thousands of new cars to take care
of the rush Of freight which they
| foresee.
The position of the steel and iron
industries grows more assured each
day. The advance in the price of
| steel sheets, previously forecast, will
probably be made operative october
lis, The heavier steel products are
feeling the increased demand and
large orders for pig iron are being
| placed by foundries and consumers at
firm prices.
Iron and steel Confidence.
| So assured seems the iron and steel
| situation for the winter that the car
riers have requested the Interstate
Commerce Commits 10 approve a
| reduction of 2S per cent in the rates
| on iron ore. so that sufficient tonnage
may be moved before the closing OF
! navigation on the great lakes to en-
able the mills to meet their demand
The situation in wool and the wool
en- textile trades may be accurately
estimated from the results of the re-
cent government wool sales, When
over 100000 pounds of wool were
sold at advances of from to 10 per
cent in price. Pottery mills are re-
suming all over the east and middle
west and are increasing their output
Building operations in nearly every
section show not only decided ad-
/ nrer the records of last wear,
but continued improvement from week
to week. Wage scales and prices fol
materials are gradually being read
justed Lumber orders are running
ahead of production, and the mills are
spee eding up their saws and putting
more men to work.
The orders which are coming in tc
many of the shoe manufacturers are
in excess of production, and some are
readjusting their prices in conse.
quence.
New Life Into Trade.
The first brisk cool fall days put
new lifa, into both wholesale and re-
tail trade throughout the entire coun-
ttry. especially in drygoods and cloth
ing. Coal also felt the improved de-
mand, although shipments have not
yet attained normal proportions. The
cotton textile manufacturers, while
still running energetically on old
stocks of raw material, have not yet
defined what their policy will be with
iregard to the operations on cotton
purchased at the new prices around
the 20-cent level.
The low price of wheat already
has mad its reaction upon the farmers
in some sections and many grair
growers in the middle west are cut
ting down the acreage planted tc
wheat this fall.
Unemployment is proving less
! Cartn Ion,
and conditions indicate that Will.
there will be some workers jobles.
Throughout the winter. the bettermen
in industrial conditions will suffice Il
give work to the larger part of those
now unemployed.