The Seattle star. [volume] (Seattle, Wash.) 1899-1947, 1921-09-20
BUSINESS IS
beginning
TO PICK UP
Survey Shows Steady but
Slow Gains in Every I'm
portant Industry IN Nation
ny ALBERT APPLE

y
BY ALBERT APPLE
NEW YORK. Sept. Robustness
4 beginning to pick up In nearly
every important Individuality
but surely.
This Is tho conviction Of leading
New York bankers. based on re-
ports from every part OF the eoun-
try.
The Improvement Is partly due to
tho usual fall picking up. But Il
also appears certain that general
business began a definite upward
climb July Is when the steel In.
dustry hit bottom and started crawl
ing out OF the depths
Recovery win not be rarid. ex'
perts agree.
Business depression started IN
May 1890. with the collapse OF the
silk market. The collapse rapidly
sprcad to other industries.
Hard times have lasted II
monthx The end finally seems In
sight
In the leading Industrial centers.
smoke is becoming thicker over the
mill districts This means. ma
chtnery Il starting.
Here are three Indications that
factory activity Is gaining.
ONE: Manufacturers are increas-
ing their travelling sales forces. The
drummers report a national convic-
ton that things are looking up"
Stocks OF goods are getting low. Or.
ders are beginning 10 come in.
TWO: Soft coal production has
been climbing since August 20. Out
put was only 1000, 900 tons n day In
early April Now IT Is around i.s0o.-
eco tons day.
THREE: Refiners report that
sales Of iubricating oil and fuel oil
are increasing. This means more
machinery Is running.
Pig iron production In August
showed the first gain In 10 months.
II st.il Is low. but climbing steadily.
Trading In steel sheets Is gaining
This shows that automobile makers
anticipate growing business.
Railroad buying OF steei Is quiet.
but inquiries are big. The railroads
have = tremendous repair program
damned up. and steel leaders think
the next boom will start flood of
railroad buying.
Prices In the steel industry. av.
eraged. show big drops:
Average. 1919 ........ $3.50 a ton
1917 peaN .-........ f9f.of a ton
Sept. !. 1921 ........ sf7.ss a ton
Four out OF every five freight
cars on American railroads are now
hauling freight Idle cars are de
crcasins steadily.
Latest figures on car ioadings are
Cor week ending Aug. 81. when rail.
roads loaded s2s.7o9 cars with
freight For several weeks. car
holdings have averaged only Is per
cent less than the corresponding pc
Rod Of 1919. the boom year.
Business, the country over, now
b only Is per cent below normal.
according to a national survey by
Seymour l. Andrews. chief stats.
tician Of the American Telephone
A Telegraph Company.
This shows business IL getting
out Of the woods. for depression
does not become acute until busI-
ness Is IT per cent below normal.
Two months ago. business was off
IS to 40 per cent
Foreign trade gaining. For every
n tons OF exports In July. 1913. the
United States now Is exporting III
tons. says tlG Federal Reserve
Boards foreign trade index
Bradstreet's agency reports that
wholesale prices In August nd.
vanced. on the average, for the
third successive month. The gain
has been slight. Doesn't mean any
material price advance is In pros
pect. Merely shows that manufac.
turers have enough orders In sight.
that they feel safe In sounding out
the market.
Copper. the most stagnant indus
try. has a pickup that Is stiffening
prices.
Building outlook IL better. Ship
ments OF Portland cement about IS
per cent as big as a year ago. Lum-
Der trade on Pacific coast improves.
also other sections. Thirteen more
lumber mills opened UP In week
ended August 81. bringing total Of
operating mills to $50.
Farm outlook improves. Cotton
price scars. forecasting prosperity
for south Big wheat exports in
August broke the record OF October.
1890. More than half of the money
received from total exports now is
for farm products.
Business failures, first week In
September, only $40. against as5
the week before.
Bank clearings. climbing steadily.
now are more than twice as big as
In 1915.
Unemployment Is not as acute as
II was a month ago.