The Barre daily times. (Barre, Vt.) 1897-1959, 1922-07-31
STRIKES SLOW
UP BUSINESS
But Curtailment is Not
Yet Large Or a Definite
Set Back
STEEL INDUSTRY
THE CHIEF SUFFERER
Some Resumption Of Coal
Mining in the Pittsburg
District

New York, July 81 lBy the Associat
ed Press Although the check to tn,
cpuntry's business recently imposed By
the strikes grew during the past week
the curtailment is not yet large and .
definite set back to the industrial re
vival is not yet probability. The
steel industry, which has been operat.
ling at q comparatively high rate, APP
pears to be the chief sufferer. Here the
loss Of production is something like ten
per cent. This industry, too, has been
considerably upset over the possible
effects Of the priorities established with
regard to coal distribution
The trade realizes that its position
is not the preferred one. enjoyed dur
ing the war Second thoughts on priori-
ties have, however. been more seas-
surfing. 1t IN realized that dislocations
in the existing situation are not likely
to be as severe as at first surmised,
and that the general effect of priori-
ties should be reduction in con9es-
ton. and a gain in coal output,
Car loading figures meanwhile have
been reassuring. The total number for
the week ended July Is Is S6l 900 which
represents a recovery Of $4,000 rs
compared with the previous holiday
week The total is within 1900 Of the
high record for the year Exclusive Of
coal, loadings were close to the high
record for all time Ii may be SEEM
therefore. that general business so .ar
has suffered relatively slightly.
Coal production, on the other hand,
remains poor
The geological surveys estimate for
the week ended July y amounted to
only 100000 tons, or practically the
smallest total for any week in recent
years Railroad congestion was again
the cause Of the loss in output. In this
connection the carriers claimed tha.
the start of the past week showed a
gain in coal loadings, but
pending publication of returns for the
entire week is difficult to say how I'M
portant the gain may be.
Some resumption OF mining in the
district is reported, and it
is minated that actual output for the
past week may come up to 100000
tons. This level however, is still some
! 100000 tons below that reached dur
ing June and any important gain is
considered doubtful until railroad con
yestion is materially relieved.
With regard to the strikes them
selves, financial circles showed greater
optimism. Chances for an early settle
nent in the shipments walkout were
considered good, while tho atmosphere |
the coal strike negotia-
ions was thought to. be improved. II
was pointed out that an agreement |
with the shopmen would be likely to |
hasten an end to the coal strike and |
hat affairs are now reaching stage |
II which all parties concerned are be
coming increasingly anxious for re
OF activity.
In the commodity markets good ex-
tort buying barely held wheat prices
lgainst hedge and short selling. Wealth
II conditions continued favorable and |
here was no appreciate change in /
rop prospects. Cotton prices gave way
omewhat before liquidation in sntiei-
'ation of the governments Aug. crop |
stimate, which is expected to show an
Increase over the previous months IS
innate. The market steadied, however,
'efore the close of the week.
With the reserve ratio Of the com
lined federal reserve system at new
Ugh record Of 10 per cent, well-in-
ormed observers anticipate no early
hange in the monetary conditions. The
ain in ratio Is partly due to importa
ions of British gold, but commercial
emands for credit remain light and
he gold imports are expected to con
inue. The strikes, Furthermore. are
citing as curb on potential trade de-
hands for concentrations.
/