The West Virginian. [volume] (Fairmont, W. Va.) 1914-1974, 1921-05-05
BUSINESS IS Oh
UPGRABEAFTER
G0AST0F YEAR
~ ALRERr APpLE

6y MI 49, .F
One year ago this week wholesale
prices broke and business depres-
sion began.
A poll Of the more optimistic
bankers and manufacturers dtscios-
es o growing belief that business
has reached low.water mark and Is
now on the upgrade, because
One-Prevlous business depres-
sIons have always run their course
In from 8 to II months.
Two-The stock market appar-
lentiy Is on a definite though very
slow upward movement, which be-
gan April Il.
Three-Bradstreet reports, for
the country over, "a faster pace In
output OF shoes, leather, bltuminous
coal, crude petroleum, automobiles
and tires; a decrease in the number
Of idle cars and reports Of better
loadings on the railways generally
and an improved tone in iron and
STEEL"
F~601tV1tbko ETSdlEk
Some Standard OIL executives
think readjustment will not be CON-
pleted for another five months or
even a year. Extreme pess1mists
believe that business for several
years will be like the teeth OF a
saw with accumulated demand for
necessities occasionally bringing re.
vival for several months. Average
however, would not be far below
normal.
Gasoline sIsshed
Standard OIL OF Indiana has cut
gasoline three to four cents a gal
Ion in the middle west. Gasoline
in Chicago %wholesalfng at 20 cents
"a gallon, lowest in four years.
The Gold Flood
Flood of gold, pouring into the
United States, swamps New York
assay office. though It can handle
$15,000,00o a day. Since most cour-
tries have export embargo on gold
the flood is believed to hayelits ORR
gin In Russia. Will make money
easier.
Number OF commercial failures on
down grade. but total liabilities still
tend upward.
British consols, before the war
considered barometer Of securities
prices are on up grade, but lowest
since 1897.
Trade TabIoIds
Pennsylvania and Virginia toun-
dry iron in spotted cases advances
Ito $27 q ton. Makers trying to con-
vince backward buyers that bottom
prices have been reached.
Business in better shaue around
Los Angeles than anywhere else,
Lumber outlook brighter on Pacific
coast.
Only a fourth of Great Lakes
freighters will work this season. lac
operating out OF Toledo now laid
up Indefinitely.
Wooden and worsted goods. for
fall delivery in very good shape,
especially women's wear,
Steel industry at 40 per cent ca.
pacity. Revived auto industry slim
iulates finished steel sales, particu-
larry sheets.
Number Of employed In New York
state, national barometer, now only
I17 per cent less than year ago.
Average wage down 10 per cent.
Crude oil production greatest in
history. March output exceeded %
tober, 1920, previous high record,
Japan: Silk industry improves,
cotton trade gets worse.
Revival of building awaits lower
costs. Prices SO far have fallen
average Of only a fifth, says G. S.
Taylor, financial editor OF Architect
ural Forum and Builders Journal.
Sales Of nations 81 leading de-
partment stores only 5 per cent less
than year ago, despite lower prices.
Indicates vast pent-up public pur.
chasing power.
In last six years, worlds produc.
ton Of cotton has beenssolo low that
compared with pfe-war normal. a
whole years production has been