Great Falls tribune. [volume] (Great Falls, Mont.) 1921-current, 1922-05-14
INDUSTRIAL IMPROVEMENT
INCLUDES ALL BRANCHES
BY Wells DlckeY Company

oy "Cto-GiCNoy lpd
So far as the basic industries of the
country are concerned the gradual i'm
provement which has been noted from
week to week is extending itself until
it includes nearly every branch of
trade. There is a decided improve
ment in buying evidenced by the in
clInation on the part of many retailers
to actually lay in stocks of goods as
contrasted with the hand-to-mouth
buying methods which have been so
prevalent during the past year. This
change IN buying practices is being
brought about by the growing convic-
ton that commodity prices will con-
tinue in the upward movement noted
during the past few weeks and that
f~orehanded buyers are going to get
into the market in increasing numbers
from now n
The index figures of commodity
prices show a considerable increase
since the low point of 1921, the aver
age for most basic commodities show
ing about a , per cent rise from the
low point. a period of falling prices
such as we have recently been expert
encing is not at all conducive to vol
N buying because there is always a
tendency to hold off in anticipation Of
more favorable purchases. Rising
prices, however. are conducive to in
creased purchases because so long as
the rise continues the merchantmen has
as his profit not only the percentage
margin which he originally figured, but
also the actual percentage rise from
the time his purchase was made until
the goods were sold.
SO far as the foreign situation is
concerned, it is being watched with
great interest. but business men are
beginning TO look for few results of
economic Importance from a conference
which up to this time has been largely
simply a record of dissensions. AL
though there is a likelihood that con-
siderable of permanent good will come
from the present conference. it is Just
as unlikely that anything of great i'm
portance will be definitely settled,
especially insofar as world finances
are concerned. More Importance may
be attached TO the conference of bank
ers which will convene shortly to dis
cuss ways and means of financing those
foreign countries which show them
selves worthy of credit.
Iron and Steel Unaffected
The iron and steel industry IN Amer
lea has shown little effect of the coal
strike. Prices are showing a constant
ly stronger tone and producers feel
that they are in a favorable position.
production in the non-union
areas is showing a gradual increase
from week to week as available sup
Plies are being consumed and new or
ders are received. Reports from the
mines, however. Indicate that even
with the union fields now out of pro
ductlOn the non-union areas are not yet
operating to capacity, largely because
orders are hardly keeping up with
present production. If the strike con
tinues. however, during the next 30
there will be a decided increase
in coal orders, with n possible short
age i'll some quarters.
Another favorable sign, especially
as the buying power of rural
is concerned. is the increased
business reported by national mail or
houses. While the mail order bust
ness during 1921 was decidedly slack.
1922 has shown q consistent increase
both in number and volume of sales
from week to week and month to
The pronounced stimulus so
during the past month or so is
due perhaps more to the rise in prices
of farm products thar to any other
cause, with the possible excep-
ton Of a more optimistic outlook on
the part of the farmer, which may
have caused him to make purchases at
this time in anticipation of a profitable
crop.
The Bond Market
The bond market during the week
N. ,-a n,,on11v ,n{.x,n ,,,}. fkn unt
me of transactions considerably lower
han that recorded during weeks i'm
ediately previous. This temporary !