Great Falls tribune. [volume] (Great Falls, Mont.) 1921-current, 1922-06-04

1921, and nearly two and one-half
times the production in last July.
Steel ingot production in April.
2.S9S. 500 tons, was the largest output
in n month since November. 1920.
and more than three times that in
July. 1921. The production in April
represents a yearly rate considerably
in excess of the maximum output in any
pre-war year.
AN especially encouraging feature
of the activity in steel is the increased
volume of purchases of railway equip
ment. Of the 60.523 new cars ordered
from the beginning ofsthe year to May
6. about one-half. 20. I42. were ordered
in April. Orders placed last month
along exceeded those for the whole of
1921 and the monthly average of the
new cars ordered in the first four
months of this year equals the pre-war
monthly average.
Automobile production has expanded
surprisingly. Preliminary figures in
dictate that the number of automobiles
and trucks produced in April almost
equalled the record monthly output of
approximately 100000 in March. 1920.
THE building industry is still extra
ordinarily active. Contracts awarded
in y states, north and east. totaled
S353.16l 900 as compared with S293.-
636,000 in March. The aggregate of
contracts for the first four months of
the year S99O.474.OOO. with
1899 .o13,000 in the corresponding
months of last year. The intense ac-
tivity in residential construction in rap
idly reducing the housing shortage. II
Is probable that the scarcity of houS-
ing has been overestimated in some To-
c~alities, but for the country as a whole
1t is not evident that construction of
dwellings is excessive.
Railway earnings in March, both
gross and net operating receiptes, were
the largest since last October. For
the first time since April, 1921. gross
earnings exceeded those of the CORE
spending month Of the preceding year.
April earnings, not yet fully reported,
apparently fell somewhat below those
for March, on account of the coal
strike.
The interstate commerce commits
sion's decision calling for a horizontal
reduction of about 10 per cent in
freight rates, effective July /, occa-
stoned little surprise. A more or less
general reduction in freight rates had
been expected for several months.
Practically all classes of traffic ex-
cept agricultural products are affected.
A reduction of 1872 per cent on grain.
grain products and hay had been put
into effect Jan. l, 1922. and rates thus
revised are to stand. On a number of
other agricultural productions the new !
reduction replaces an earlier 10 per
cent reduction expiring June 80.
In connection with the reduction in
rates, the commission announced that
5A per cent is regarded as a fair re-
upon property valuation.
This reduction in rates will serve
to emphasize anew the question of
revisions. Even while wage costs
at present levels, it is possible
the lowering Of rates will so slim
ulate traffic as to minimize the decline
to be expected in net earnings.
although the continuance of the
coal strike has increased the strain on |
some industries, no general shortage Of
exists. 1t is important, however.
and operators should be settled before
a condition develops in which the coun-
try as a whole must suffer from a seri-
the controversy between miners
.us check to the revival of business.
The event may demonstrate that there
IS now too little appreciation of the
fact that. as conditions stand, with no
in sight. a real shortage of
fuel is threatened" u