New-York tribune., 1922-10-08
Prosperous Times
Close at Hand i'm
South, Say Bankers
Crop Outlook Bright and
Settlement of Strikes Isl
Helping Industrial Sit-
uation; Big Ore Deal
fspeosaI Fsmaro.a. Correspondence,

| CHATTANOOGA Tenn, Oct. 6,---
The Chattanooga industrial region had
| already adapted itself to the rail- strike
and was resuming full production when
| the separate agreements were signed
Prospects for the fall and winter are
declared by bankers to be better than
| for decade. "The brakes have been
taken of business, and the coming
| months will see full employment and
| active trade in practically every line.
now that even partial peace has been
attained In transport" said E. Y
Chaplin, president of the American
Trust and Banking Company.
whats to stop us? I can see moth
ing ahead but good business. In fact,
we have been having perceptible quick
ening before the shopmen'a strike, and
the impetus has not altogether been
lost
"On a recent motor trip through
Tennessee, North Carolina and north
Georgia, / was impressed with the fine
condition Of the crops, so much better
are prosperous again, Every town /
passed through seemed active and hard
at work.
These views are reflected through
the general business community. There
is an air Of expectancy throughout the
region, which comes from big things
in the air. Several large scale negotia.
tfons are in progress, which will open
up large new areas to exploitation.
Those factories and foundries which
were forced to shut down. are resum-
ing, coal and pig iron being at hand
again.
The local plant of Che United States
Cast Iron Pipe and Foundry Company
Is about ready to resume full time,
This plant used eight to ten cars of pig
iron day. Seven hundred rlen will 90
back at once.
Textile industries were less affected
by strikes than any other, as their main
power dependence is hydro-electric. and
coal use confined to dyeing and similar
processes. Hosiery plants are running
at an average Of rs per cent capacity;
Richmond Hosiery has booked large
orders for fall delivery. United Ho-
siery mills are running all mills at 80
per cent.
Three of the railroads in Chatta-
nooga kept full service during the
shopmen's strike and made warm
friends of shippers thereby. These
We're Nashville, Chattanooga & St.
Louis, Central Of Georgia and Tennes-
see, Alabama & Georgia.
The Southern's policy, although it
has alienated shippers here, has
cemented workers to 1t. For five weeks
after the strike began the Southern
refused to advertise for shop workers.
seeking to end the strike. It did not
hire guards until sporadic outbreaks
forced it to do so.
The shopmen go back to the South
ern with the best of feeling. They
expressed it "the road has treated us
falr in every move, and we haven't q
thing in the world against it. We're
proud to work for such bosses as Fair
fax Harrison and H. W. Miller"
Southern officials declared here that
in thirty days the road would be nor
nal as to equipment and as to traffic.
The men can get back to work in full
number, and the roads equipment will
take the work Of all the men, both
those now in and strikers, for the
time to put 1t in shape.
One Of the interesting developmen ents
industrially Of the last few weeks is
announcement that an unknown group
OF New York financiers has secured
an option on the Gadsden, Ala. fur
naces and foundries of. the Alabama
Iron Company. The option is for four
months, two Of which have already
passed. The price set is s6,40o,0oO.
OeHeI is tnat the Great Southern
Steel Corporation, which in the last
year mas bought up several hundred
thousand acres of coal and iron ore
lands in Etowah and De Kalb counties,
Ala, near Gadsden, either has or CON
trolls the option. President Baker of
the Great Southern, of Chicago, said
in August that September / he would
have an important announcement to
maks Of Great Southern's plans. 1t
has not been made, but belief is that
it will be that purchase of Alabama
Irons three furnaces has been con-
seTlated
Ford has let it be known that in
event his Muscle Shoals offer is ac
cepted he will be in the market for
large areas Of Southern ores, but that
if it is refused he will not. Negotia-
tlons are under way as to one large
tract.