Albuquerque morning journal. [volume] (Albuquerque, N.M.) 1903-1926, 1922-08-28
HOPE Of STRIKE
SETTLEMENT IS
NOT ABANDONED D
BY F|NANC|ERS
indications As to the Trend
of Business and Opinions
as to Fall Prospects Show
Diversity.
ROADS MOVE A LARGE
VOLUME OF FREIGHT
Adverse Development in the
European Situation Has
Affected the Grain and
Cotton Markets,

New York. Aug, 81 (by the AS
sociated Press) Both indications
as to the trend OF business and
finance, and opinions as to fall
prospects, have shown marked di-
versity during the past week. Set
tlement OF the soft coal strike is
generally expected to be reflected
in a sharp gain in production, a
figure as high as nine million tons
a week being mentioned as likely
to be realized in the immediate flu
ture. on the other hand, it is point
ed out that the governments
scheme of priority must remain in
force for some time, particularly
until the needs of the northwest
have been taken care of so that the
steel industry is likely to feel the
restriction imposed by fuel short
age for some weeks to come.
The 20 per cent increase in steel
wages meanwhile is interpreted as
indicating that steel manufacturers
expect to be able to dispose of all
their available production this fall
at favorable prices, a conclusion
which is reinforced by tho present
restricted scale of operations az
compared with the rate Of activity
during the spring and early sum
mer, Whether or not steel prices
will rise materially above present
levels. however, remain to be seen.
Car Shortage Inevitable.
AS far as the railroad strike IL
concerned, financial quarters have
not entirely abandoned hope OF, a
settlement and do not seem alarm
ed over the prospect OF a finish
fight. Car loading statistics show
that the roads are continuing TO
move a volume OF freight compar-
ing favorably with the best per.
formances OF the year. on the
other hand it is recognized that a
car shortage during the fall is in
evitable.
Arguing from the increase IN
wages in the coal and steel indus
tries, which are syfnptomatic OF a
shortage OF common labor aad thc
higher prices OF coal and steel
products, some observers conclude
that the country is entering
period of Imitation" While def
nitlons of this term vary consider
hblN, WHAT 10 III CpdbiA liltdIlb -
that something like a boom, short
lived or otherwise is to be bred OF
a general rise in commodities
prices.
Opinion on the matter is, how
ever divided. Those who refuse tn
subscribe to the theory point out
that the present increase in prices
is due to abnormal situations aris-
ing from the strikes and that as
such the higher prices are likely
to be temporary. Such critics also
emphasize the fact that certain
commodities, such as rubber. are
cheap and are likely to remain so.
In addition, they maintain that
with grain prices at existing low
levels. the farmers purchasing
power will remain moderate, and
that no great boom Is pos
sible until the farmer can take part
in the movement. They al.o point
to Europe's low purchasing power
and the general consumers resist
ance to high prices.
Lack OF Uniformity.
According to this view then, the
situation is likely to continue "a
show a marked lack of uniformity.
Shortages and high prices in some
commodities and industries are ex
pected to exist alongside of quiet
markets and moderate prices. The
consensus in the best informed
quarters is, perhaps, that the fall
Is likely to bring a continuation OF
Our somewhat "spotty' business
revival on n moderate scale.
Sentiment in the grain and cot
ton markets has been affected
somewhat during the past week by
the adverse development in the
situation and the result
ant weakness in the exchanges OF
and the continental allies.
Wheat has lowered just above the
dollar mark with weather condi-
tlons and crop prospects little
changed.
Little IL any change has been
in the money market
Rates continue at approximately
he low levels Of the year and no
sudden change is anticipated