Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1922-04-23
BETTER FUNDAMENTAL
CONDITIONS PREVAIL
Outstanding Features Are In
crease in Iron and Steel
Activity.
HOOVER MAKES ANALYSIS
Situation More Satisfying Thnn Icnr
Ago. Notwithstanding strike.
Floods. Tornndoes and Late Crops.
Steel Orders Increase.

Fundamental business conditions pre-
. vail in this country at the present
time than in March ar April OF a
year ago. Notwithstanding a nation
wide coal strike, floods and d"vas-
Eating toruadoes and an unusually
|, late crop season.
This is the assurance which pro-
ceeds from tn. Secretary OF Com
merce. H,rher; Hoover. after an
analysis he has just made public OF
The reasons for existing optimism
which the government has discoN-
cred with the opening OF spring and
the increase in retail trade through
out the country.
The two outstanding features in
American business Improvement at
s the moment Air. Hoover points ont.
3 are the marked increase in iron and
steel activity in construction. The
strike OF Goa! miners may have cur
tailed the ou'p"; In some OF the
; steel plants, but taken by and large.
the industry is moving steadily to-
ward normal conditions.
Strike Not Hurting business.
So far as the coat strike Is con
cerncd. the Department Of Com
. mcrcc has found that since the first
OF April the coal strike has resulted
in almost total cessation OF work in
the anthracite fields and a reduction
OF more than % per cent in the
hituminous output. but owing to the
exceptionally heavy stocks Of coal.
this situation has SO far had but lit
tie effect on business"
Because Of It's fundamental char
acter the iron and steel industry is
very often regarded the haromc-
ter OF business conditions. The pro.
duction OF 10th pig iron and stcc!
ingots has been on tho increase since
last July. (; is shown. but an adj
vance OF from - TO 80 per cent in
March. compared to February.
marks by far the largest increase
for any single month. zig iron pro-
duci!ons OF 2O55.0o0 tons is over
6OGO 600 tons srea;er than either the
output OF the month before or Ia
March las; year This production
figure has not been cqualed since
January. 1921.
Steel lingo; output. allowing PRO
rata for incorporating firms. amount
ed to c.Sls.0oN tons. or s50.ooo tons
more than in February, and the larE
EST production for any month since
November. 1920. The untitled orders
on the books OF the United states
steel Corporation on March 81. 1922.
amounted TO i4gi.coO tons. an in
crease of $500" tons over the con
dition AT the end Of February. This
is the nrS, time. ii is said. that the
steel Corporations untitled orders
have shown An increase over th-
preceding month since July, 1920.
The prices of iron and steel dur
ing March showed little change from
February, hut THIS is the first month
for n long time that these prices
Nave no, shown decided drop.
In anticipation q the strike. tho
production Of hitUmiuous coal in
creased to 5O.l9S,00O tons over Feb
49, ~, -, t.
creased 100000 tons over February.
with "a total ~ S.757.000 tons This
is the largest monthly output OF
| anthracite coal on record cxcep, dur
| Ing the war years 1917 and l@ls.
| Coke production was also much
larger In March Beehive outpu,
was 1920 tons compared to 5i9.-
| 000 in February. and by-products
4 toialed ci37.Oun tons against l,7?5,-
| coo the month before
Auto Shipments Improve.
Shipments reported by tho Ma
| tional AUTOMOBILES Chamber OF Com
i merce Indicated 4 marked improve
ment over 'hc preceding month. Rail
shipments amounted to 95@iD car
3 loads compared 10 - g." in Fchru-
AIRY. while drivcways and boat ship
ments totalcd ls.0tS machines
agains; only l03j3 in the month be
fore.
Building contracts awarded In the
twepty-seveu NorthcaSt"rn states
= during March We're Ma S.et at iS2?3.-
637 o0G. compared w4.:h .Sl.77,472. ono
in February ANA $id4,og3.ooO In
March year aGu. The f!gUr" for the
last month was the largest recorded
for any month iU nearly TWO years
When account s taken in The de.
crense Of the cost OF building opera
Il tions. this means very much larger