Great Falls tribune. [volume] (Great Falls, Mont.) 1921-current, 1922-10-23
BUYING SPURT
HELPS TRADE;
PRICES STEADY
Activity in Wholesale
and Retail Business
Shows Up in Review.
Agricultural Banks Dis
counting to Get Cash
for Moving of Crops.

New York, Oct. 22-(By The AS
sociated Press. .)-Developments of the
past week in industry and finance are
encouraging in many respects. Whole
sale and retail activity in particular
increased perceptibly. being partly
stimulated by the cooler weather. Con
tinued strength in prices for farm
products. however, oyersbadowed for
the moment other important indus
trial factors.
Although cotton growers have sold
the staple heavily, excellent buying by
the foreign and domestic trade has
given the market the needed support.
Cotton futures at % cents a pound or
better are selling at the highest levels
since the beginning of drastic deflation
in 1920.
Prevailing grain prices also contrast
sharply with the recent low levels and
with prices of year ago. Continued
strength since the smoothing out of
difficulties in the Near East indicate
q healthy statistical position. Re
ports of shortages abroad have been
important factors in the market re-
Gently This has offset heavy market
ing of grain which has gone on apace
in the face of shortage of railroad
cars.
Corn Prices Better
With wheat close to s115 q bushel
at Chicago, the farmer is getting
around 81 bushe. While he may not
realize any great profit at this figure,
the fact that he is receiving nearly
twice as much for corn as year ago.
and that other farm products have
risen attests improvement of his posi-
tion as compared with year ago.
Now that fuel supplies are plentiful
and the transportation situation is no
longer menacing, sales of finished steel
are smaller and the demand for prompt
delivery is less insistent. The industry
has regained all the ground lost in the
late summer and the trend is toward
quieter conditions with prices working
lower.
Coal output increased somewhat dur
ing the past week. While total output
is perhaps less than required for con-
sumption and building up of blocks.
danger of suffering from n possible
shortage has passed. Declining fuel
prices indicate the easier situation.
Car Loadngs Slump
Car loadings for the week ended 0c-
tober Z. the last date for which figures
as compared with the previous week bur
are largely in excess Of last year and
are close to the high record of 1920.
Although decrease in merchandise
and maintenance loadings was largely
responsible for the lower total this
does not mean n slump in business.
1t indicates rather inability of shippers
to obtain cars.
While the federal reserve SYSTEMS
weekly statement indicates discounting
by interior banks to obtain funds for
the movement of crops. bankers re-
port an increasing supply of money
coming in from the interior 20 this
market. 1t seems. therefore. that no
Tightening in the general
money situation is in prospect. Com
mercial paper rates show a seasonal
tendency to harden.
Although September trade returns
occasioned surprise in many quarters.
which had been predicting a flood of
imports to beat the new tariff rates.
it is pointed out that much of this
advance importation came in August.
As it was, imports for the month de-
creased S4O,0o0000 as compared with
previous month. Export rose Sf5 5.o00,-
600. but they were still some $S.o0o,-
coo below year ago.