Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1922-11-06
REVIVAL OF BUSINESS
IS LIKELY TO CONTINUE
Available lndices of Condi-
tons Favorable TO Recent
Upward Trend.
ARE busy
Carriers EuunlinE Greatest Perform
"hrrs In tnuntry's History-CnF-
i"ndinHs for Week Ending October
- Total 1000 300.
IRy Associa,cd rrcss. l

NEW YORK. Nov 5.-prac,!cally
all the arailaHl" Indices or business
activity poin, 20 a continuation. MS
during the past week. of the tendency
toward revival. Carloadsnes FOR the
week ended October u totaled .00a.-
600 cars. which means that. for all
practical purposes. the railroads now
are cTualing the greatest perform
ances In the country's history. This
previous performance took place dur
lag tho fall o. 1871 when tho high
record OF i,lcy,VUO cars was made
Ia addition. /; is pointed out In n
hanciAi circles. mat the latest load
ing returns show an Unprecedented
movement OF general merchandise.
Coal shipments. II is true. have CON
rlbnt'd TO recent gains and a Dro-
iucHon of lb.i60.000 tons of bitun,!n-
"us a week. ia being maintained
Nevertheless. the gain in the movc-
ment Of other kinds Of frcIEh, has
been even greater and has beaten all
records
steel Production steady.
steel production - being well main
tanned, although the rush to buy
which followed the strlhs has now
arc dropping back 10 a more normal
level and consumers OF steel arc
waiting 10 see when tho prices OF
finished products VIII come to come
thing Ike an equilibrium. Output
probably exceeds 10 per cent of ca
pacitT. and consumption on account
OF railroad and construction enter
prise shows no signs Of falling OF.
Automobile productions also remain
remarkably good. Octobcr's total c1-
c"edins ScptemLer's by approximate
~ :" per cent Reports from the
,"ntil" districts also arc favorable
the mills finding that recent advances
III prices hav" not had an adverse
erect on demand. Even the mall or
aer houses. which are depcnden,
'"Feeiy on farm purchasing power.
show encouraging gains during Oc-
toner as compared with year ago.
the two chief companies reporting
Increases OF about Is and IS per cent.
respectively.
That mo farmers purchasing now
or should be ineasu.ably increased Is
indicated by recent gains In the prices
OF farm products. December wheat
rose during the past week to NOR.
than sl.l7 bushci. which /. an.
proHimately cents above tho recen,
low ard tho same delivery OF cot
ION finally mounted to above 25 cents
a HoGnd. The latter price is the best
since tn" great break OF 1920. and is
well over twice the low price OF las,
year.
Hrrndstun Prices In.
similarly pun's index OF bread
stun prices, which stood n, point
above tho 1913 average September
!. had risen !" rs per cent above
November !, largely as rcsui, OF
Increases In farm products. Dun's
index of the total value rose as per
cent during October. this being the
largest gain since the decline In
prices terminated In 1921 Tn. In
ocx now stands 81 per cent above
inc pre-war. as compared with las,
years low OF % per cent.
IN response to more active trade.
money meanwhile continues firm.
The rise from the low levels of III.
year ha. been. however. moderate.
and tho Present charge for accom-
notation Is not high. /, is clear
wax any further demands for crcdi,
THIS year Will ho met readily. Tn.
reserve ratio Of the Federal reserve
system. while some per cent blow
the low OF the year. is still close To
Inc level prevailing during the past
spring and summer. and that vas,
"!scountinr resources remain avail
able Is quite clear
With regard to the recent reaction
IL security values the opinion pre-
walls in wcIl-informcd quarters that
an over extended speculative posi-
uoh lag n the bottom Of the mat
Ter 1t was considered significant
that the disturbance conceded with
conditions which carried the new
Ii per cent Treausry bonds to n
temporary discount Of ! per cent. FL
h"HciaI quarters were unwilling 10
interpret the latter movement as re-
ntctiiG ANYTHING more than "a transf-
tory disturbance.