Great Falls tribune. [volume] (Great Falls, Mont.) 1921-current, 1922-10-22
dustrial activity demanding larger sup
plies of working capital.
EnaI Situation ImuroN0d

dustrial activity demanding larger sup
plies of working capital.
Coal Situation Improved
Realizing the Importance of coal
supplies adequate to maintain industry
during the winter months, while at
the same time taking care OF mcreas-
ed demand for household uses, the
chamber of commerce OF the United
States recently conducted a question
naire in order to effect a general sur
very of the present coal situation. D
replies thus far received indicate In
general that there are practically no
stocks of coal in the hands of retail
dealers, while public utilities which
always buy we'll in advance of their
immediate needs, have supplies on
hand sufficient to continue full opera
ton for about 45 days, By-product
coke plants and steel works are fairly
well supplied, while there is in gen
eral supplies to last not much over a
month. 1t fs apparent from the sur
yey that the general situation is be-
coming much easier and that there is
little complaint as to price. The big
nroblem so far as the northwest is
concerned is to obtain a sufficient
domestic supply in advance Of cold
weather. Most of the coal supplies
for Minnesota and the Dakotas come
through the twin ports of Duluth n
Superior. If this region is to have
adequate fuel, therefore, the coal must
be on the docks at these points be-
fore tie close of late transportation.
One interesting development which
has been going on for some time, but
which apparently has received a decid-
ed stimulus from a prospective short
age in coal is the increasing use OF OH
and coke for home heating purposes.
Several devices are now on the Market
which apparently successfully. handle
.fuel-oil in home furnaces. Their manu-
~facturers claim as their principal ad-
vantage their freedom from care or
worry and the uniform delivery OF heat.
The Bend Market.
The influence of the new United
States treasury 4 IA bonds was felt
throughout the entire investment mar
ketI. It had a retarding affect upon
practically all classes of bonds, partlcu-
larly corporate and other issues offer
inc no tax exemption. The reeessions,
however. we're very slight, much less
than might have been expected with so
large a volume of tax exempt securities
SEEKING q market. Inc idch Oh NIolcnC
disturbance with the floatation of this
new issue is just another Indication OF
the underlying %soundness of the pres
ent investment market. New flota-
tons during the week were considerably
less than for weeks previous, largely
because investment houses were anxi
Gus to cooperate in every way with
government financing and deliberately
hold off new issues which were in pros
|pect. AS this letter goes to press there
is a decided ~quickening in new offerings.
representing perhaps an accumulation
which has piled up while the govern
ment was seeking an outlet for its own
obligations.
The municipal market during the
week fluctuated little, although the tone
generally was strong. While new is
sues were small in volume, it is under
stood that there are several prominent
issues still in the embryo and for
which bidding viii undoubtedly prove to
be lively. Trading in the rails was in
fair volume but the effect of the treas
ury loan was to depress prices slightly.
Now that the government financing is
well out of the way with a heavy over
subscription, the investment market re-
mains practically unobstructed and is
in position to move forward on an even
keel.