The Wheeling intelligencer. [volume] (Wheeling, W. Va.) 1903-1961, 1922-08-14
Industry Tightening But Un-
dertone of Leading Markets
Continuing Firm
Fundamental Conditions Are
Declared Stable by Com
petent Observers
Steel Mills May be Forced
To Suspend Because Ut
Coal Shortage

New York Aug l5.---,HS the ASso-
GATED PrcsO-ProlungG;ton OF ooto inc
coal and railroad strikes has brought
rur,bar tightening OF brakes on whSet9
II Industry. but the uudertone or the
,,sd,,z markets. OF the country has
rsyerthslass remained rrrr. II became
.,crsasincly evident as the week ad-
vancsd that all parties concerned were
,..siro,,s of coming TO an agrecmen; and
that no insurrnourtable obstacles sto"o
in the way The modera'" advance &"
stock prices under the te'"erSh'P ~
railroad shares. reflected the oeller th"I
\ settlement was Imminent oe!'ei
which was not shaken by growing as
affection among the railroad oro'ne
hoods and realization that coal tam'n
was a serious possibility
Competent observers point out '""'
fundamental conditions are SOUND """
thar n only the disturbing Intluenc''
are removed. resumption on la'EE
scala Of the business rcNINaI. when mas
Losp steadily gaining Roadway. may Or
confidently expected. As an ot'Se' ~
the losses which the country mas "''e'HS
suffered. there is now an ac'u'''u'>''o,,
~ demand. the filling Of when Will SPH,
,rdus,ry for some time 10 come. N'''
spnplies. meanwhile. have dw'ndled ~
,na noint where basic industries nave
reen seriously affected. Although '"'
les, estimates % the geological sur
-. o,,,srirr the week ending August l.
show that the output has again r'N" ',,
,hoy. the .ONn nn0 ton mark. ~ Is sun
lass than half Of normal and ABOUT Il
,,,l,,or tons below Uhat II was JUST
,rIor 70 the shopmer,s walkout.
Steel Industry Suffers.
49, ,,.l industry in particular has
v,,y,srad shutting down Of blast 'uF-
races !s almost daily occurrence gu"
unless Increased supplies or tuel are
soon forthcoming. some steel m'''S wiz
hay. 10 suspend operations. EVEN WI"
both strikes ont OF the way. Iur'"e,
more congestion on the raIIro'oS Wv,
he unavoidable. and some months WIZ
he REQUIRED 20 get back 70 normal 90"
9,,i,ns steel ingot output has taI1en 10
an annual rate OF about 3o'ooo'ooo 'onS
a,r co,rnared with an average or So
onn nm IONS lust preceding the RAJ!
s,rfk. The present rate. however. 10
ain eoual TO tina, OF fSl2 ana 1919
which we're the years of heaviest Wv
pms prior to the war. however oroe,
h,x. been Unexpectedly large. ms
1917 r.nort OF the steel corporation
.,ox,s gain Of over l4o.nhn'tons In un'
,,u.d orders for July. Lack or cars
,.s hrourht some refusal OF orders tos
immediate delivery.
Car Loadings Hold Up
rIassc4 ~ rrc'Sr, by a few ot the raii-
roads. car loadin<s have held up we'll
For the week OF July 80. the totaI OF
care loaded fell slightly. gains IN coal
and grain being onset by decreases IN
merchandise and miscellaneous rreigh'
Loading. however. are continuing al
Tho close TO the high point In history
=, ,ois season of the year. with the
4-,;, movement getting underway re-
sumption. coal mining and the usual
autumn ,-arf, demands will tax the
canacitv Of the roads and insure SUP
s,sn,ial earning for some months to
come
4 reassp-:rz note was struck during
the week BY the department OF agr'cui'
,ure forecast OF abundant yields OF the
~oun,ry's prime: pal crops Wheat pro-
duc.ion - estimated at some SIX mil
Ion bushels above the average and 'he
corn yield promises 10 be n" fourth
Arrest IN record While prices have
receded somewhat as result OF these
brigh, prospects. the purchasing power
OF the agricultural communities VIII
nevertheless he enhanced. This better
buying power will have It's effect or
general business in the fall. Plentiful
food supplies will also tend TO keer
down the cost of living. General buying
~ cotton. meanwhile. was renewed and
the trend % prices appeared 70 be up
ward
Money rates were practically I'M
changed 4 slightly nrmer tone in the
Early part 81 the week in call money