The Washington herald., 1921-12-09
NATIONS BUSINESS
SHOWS CONTINUED
GAIN in VOLUME
Steel, Textiles and Build
ing Materials in
Demand.
FARMERS HARD HIT
Prices for Crops and Live
stock Below Level
Of 1913.

Continued Improvement in indus
trial and commercial conditions is
shown by figures published by the
Department of Commerce in its
monthly Survey OF Current Bust
ness. Greater output of iron and
steel and OF textile products is
shown, while a widespread increase
in building has made itself felt in
lumber, cement, brick and related
Industries,
The department notes further
declines in prices during October,
but on a much smaller scale than
earlier in the year. The relative
stability OF prices and the indeXed
banking situation, as evidenced by
increased reserves, smaller loans and
lower interest rates, are considered
favorable to further business i'm
pTovement. The most serious draw
back is low price of agricultural
products and consequent decreased
luying power OF farmers
Production Increasing.
Increased production was the
general rule in October. Substan-
tial increases were reported in piG
iron, steel. bituminOUs coal and
coke, and smaller relative increases
in cement. anthracite coal and
wheat flour, and in the consumption
of cotton at mills. Zinc production
remained stationary, and petroleum
production decreased slightly.
Increases Of about one-third over
the minimum for pig iron, cotton
s al @f
srettes, cigars and manufactured
tobacco, while bituminous coal out
put rose 20 per cent from the mini
mum. and the production of wheat
-four, oleomargarine, beehive coke.
steel ingots. cement and wool prod
ucts is about double the minimum
figures. small increase over the
low point is noted for anthracite
coal. while zinc. copper and petro-
leum are still close to the years
minimum production. Production
Of cigarettes and wheat four eX-
Ceeded even the highest point in
1920. and cement production was
the Isrgest ever recorded.
Ex~eDt for metals, quantitative
sr~ydv ion Of the important indus
tries as great as or greater than
befcr- the war. BituminOus coal
retro I'm. wheat flour, oleomarga-
zinc. Carettes. cement, by-product
coke Id cotton and wool products
arc a greater than the 1918 av-
Vrarr while the output OF anthra-
etc cal. manufactured tobacco and
Sisar Is very slightly less. With
met production only recently al
its j. point, and the great recov-
cry ted especially in iron and
steel uring the past two months
cons rable progress Is seen In
pi-t.r. this whole industry On the
roaI % normal production.
r'urther Price Declines.
Eeta prices on November
showr5 no change, and wholesale
prices declined slightly. Prices paid
TO producers for crops and live
stock declined markedly, and both
groups are below the 1918 level
while wholesale and retail prices
are still about so per cent above
that mark.
Monthly export trade OF the
United States for the past six
months is greater than in 1913,
making an allowance for an In
crease OF so per cent in prices. On
that basis exports are 10 per cent
greater than the 1918 average; I'M
ports are 10 per cent less
Unemployment conditions contin-
ued to improve. Figures for the
United States as a whole and for
New York State show more men
employed and larger payrolls: av-
eraEe earnings appear to be on the
decline This factor Is also re-
fected IN the decline IN postal saw
ings. The small excess OF immi-
grafton over emigration has also
beIped labor conditions