Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1922-10-16
INDUSTRIAL ACTIVITY
MARKS PAST WEEK
Better Prices for Farm Prod
ucts Are Shown by
Reports.
EAisrINC COTTON FIGURES COOP
Federal Reserve Statements In,II-
rntr Both nm Increase ii Volume
OF BuSInrss and Movement OF
Funds TO Agricultural Districts.
NV Asvocia1cd proee

NEW YORK. oct l1.-Bctt"r priccs
for farm products and evidences OF
increased industrial activity marked
the past week in business and
finance. \ rally in grain prices came
oddly enough Al a tire when IL was
clear tina; the crisis IN the Turkish
difficulty had been passed /; was
attributed partly 20 reports OF
smaller crops abroad. In any event.
December wheat roS. about $40. n
bushcl which is approximately 10
! cents above the recent low
Domestic crop estimates made pub
Tic by tn" Department Of Acricul-
tur" Monday show. on tn" whole.
very iittl" change. Wheat ~ now
placed ~ $4,000. 0d0 bushels. or
only 100000 less than in the pre-
rious government estimate. whilc
corn IS expected TO yield 1853. 1000. 0rO
bushels. or 1000. 900 bushels less
than was forecast ON Scptcnber /
In Other words. abundant crops OF
cereals Will br available.
Cotton meanwhile. rallied to above
&c - pound, partly as & b.latcd
recognition Of the huI!ish statistical
position. and partly because trade
buying. which was withheld pend
ing settlement OF the Near E.s.
trouble. has now come into the mar
hct. Textile mills evidently are
planning TO extend their activities
and arc providing for their needs in
the matter OF tho staple Existing
prices are over % above tn. recent
low and are materially less than
cen; below the high OF last year.
The weeks Federal reserve. stale
n"nts indicate both an increase in
the volume OF business and a move
m"ni Of funds toward agricultural
districts. The reserve ratio oc the
system is now nearly > per cent be-
low the peak. which was reached at
IN" close ot the season o; summer
duilmess. Il Is s1.il. however. ap-
rr"N.n'ately per cent abpv" the
CORES p"nding figure for IA year ago.
Discounts, deposits and note circu-
alton continue TO grow Mean
! "hii". The tendency is toward slight
IS HrTer conditions in tn. money
| market. although NJ SHARP rise in inc
cost of commercial accommodations
anticipated
Decentralization OF The Trcus-
ury', NJ" !ssu. Of thirty.y year 4
rcr cent bonds IS regarded as = ia
Turahl" indication as to the condl-
ton of the investment market The
| new bonds which We're offered to
IN. value Of 100000. 900. or there
rr"vid" the funds for tn" r"dernp-
zion oi tn" $S70.000.0oo tn Victory
notes which have been called for
payment on December 10. After
th"S' notes have been paid off the
chief n.aiurities which will have TO
re taken care OF before next July
will be s625.060.oO0 in war saving.
"rti.icatcs. which tho Treasury
op"s to refund into new Treasury
avIne certificates. and Sl.sOo.Ooo 900
II victory notes. In financial quar-
crs these operations Will be ac-
opted without disturbing tho money
ccur!ty markets. when thes. opc.
rAtionS hav" been completed. tho
treasury will have taken care OF
IS principal carly uaruri,i"s which
";alcd $I5"". 900 in April. 1921.
when refundins operations were
started.
Industrial returns continue en-
| 'ourariug. Tn. railroads have SGT
new high record for a year In the
natter OF cars Of revenue frcigh.
"nded. til" total for the week ended
| S"pfcmcr 80, being ?:S 900. This cx-
| ""hs not only the number loaded in
| he comparable week a gear ago. hut
! 1920. when the fan traffic move
men; broke all records in tn. coun-
| rvs history. Nevertheless car short
| 'E"s continue 10 represent tn. limit
! ny factor III TN" Steel industry and
| n Il number OF others. Steel output
has now made good all the losses
| suffered on account OF the strikes
| ana bituminous coal production con
tinucs 20 approx inmate 10000. 600
| tons Il week steel prices are show
ing u tendency To r"ccdc. partly be-
| cause recent shortages hav. hcyn
| relieved.