The Morning Tulsa daily world. [volume] (Tulsa, Okla.) 1919-1927, 1921-12-25

did not go 80 far downward as COP
per and has shown n good degree
OF recovery since last july.
The president OF the organization
OF bltuminouH coal operators eX-
prcsscd belief that tho "bitmlnous
industry viii emerge from the poriod
OF depression without many OF the
haudicaps Of the past period "
THE flour milling Industry" &C
oording 10 an authority has faced
periods which are far more severe
than any recent occurrences"
Outside OF the metals group, our
important industries today have an
actual production OF goods Hs great
or greater than before the war.
Some industries are working at a
rate which reflects tho impulses
which are coming from the gather
ms Of strength which is going for
ward.
Tho production OF cement has
broken the record for any month.
cotton mills In the south are re-
ported IN some Instances to be
operating with night shifts.
Shoe factories in various dis
trlcts are said to continue OK
trcmoly busy"
Paper mills making newsprint IN
November produced at * per cent
OF the capacity they attained at
the tyne Of tho greatest activity In
1920.
Wooden manufacture has in
creased It's employees by rs per cent
over November OF last year.
Lumber stocks Low.
a general survey Of the lumber
Industry in ali It's parts codcludcs
that In 1921 not only the current
production was marketed but much
~ the stocks. that stock on hand
at mills. has decreased at least by
40 per cent and that retailers stocks
are 30 to 90 per cent under normal.
There Is every indication that
light stocks are tho order Of the day
Tor all industries and merchants.
TodRy's stocks are 50 low that the
impulse from consumption demand
can be Immediately felt and in
dustTy has greatly improved is
ability for efficiency and economy.
The president OF the Electric Rail-
way association now tells the MEM
bors "as whole the electric rail
way industry has survived In "A
manner that challenges the parallel
and inspires hope aud confidence In
the future success
Whatever adjustments OF revenues
ana rates remain 10 bt Ulhlf TOT lue
steam railways, n deficit from oper-
alton last year has been replaced by
earnings. possibly $500, 100000 or
more for the ~ months.
Unemployment had decreased
Somewhere between 1890, 600 and
2 100000 unemployed four months
ago, have been put TO work.
Wholesale prices have the most
direct return to general busin g sa
conditions. In May 1920. they were
At their peak-272 per cent of the
1913 level In November of last
year they were at 207 and by De-
rember had drepped lS months. IN
November Of this year they stood.
Tho prospect is that the tumbling
prices we have seen is at an end
and that their further downward
course will be brought about largely
by the forces OF competition and the
laws Of supply and demand, l. e., by
processes of bur normal economic
life.
The banking situation has greatly
improved during the year.
Between November OF last year
and the end OF November, 1921. a
little better than half n billion dol
lars of the national debt was re-
tired and the monthly cost of run
ming the government, was down
from n figure that kept near $i00,-
o0o,000 to one that bears about the
same relation to $500, 100000.