The Dawson news. (Dawson, Ga.) 1889-current, 1922-06-20
BUSINESS REPORTED AS
RAPIDLY ON UPGRADE
IMPROVEMENT IN THE TRADE
SITUATION THROUGHOUT
COUNTRY CONTINUES.
GAIN EXCEEDS HOPES
Far Beyond the Expectations Enter
tanned Earlier in the Year Automo-
bile Production Breaks All Previous
Records. Outlook Is Good.

bile Production Breaks All Previous
Records Outlook Is Good.
NEW YORK, N. Y-Continued in
dications of industrial Improvement,
signs of a renewed easing in money
rates and diverse testimony as to crop
conditions are the features in business
and finance of the past week. Com
modify prices still show hrmer tone,
retail trade is about what might be
expected at this time of year, and the
labor situation shows mo" decided
change. The picture continues to be
one OF gradual but fairly steady re-
covery from depression-a recovery
exceeding expectation entertained ear
lier in the year.
Recent reports show that steel plants
are still operating at rates which COM
pare favorably with full capacity oper-
atoms before the war. Steel prices are
firm. The value of building contracts
let in q northeastern states during
May set a new high record and was
six times greater than the monthly
average during 1914.
Automobile production during May
also exceeded all previous records,
while the steel companies report in
creased demand from manufacturers OF
agricultural implements. Orders for
railroad equipment continue to be
placed in satisfactory volume.
Crop Outlook Is Good
Latest reports from the northwest
indicate that the prospects are for a
good wheat crop. Although late in
starting, recent exceedingly favorable
weather has brought the crop along
very rapidly The showing is amply
confirmed by the government crop re-
ports as of June /, which indicates a
yield OF 855,000,000 bushels of spring
and winter wheat, as compared with
an estimate of 830,000,000 bushels a
year ago. against a production last
year of 795,000000. Prices of wheat
for future delivery have declined sharp
ly in the last weeks, but this is attrib-
uted in most quarters to the collapse
of the attempted speculation Tor the
rise in the May option rather than to
anything disturbing in the general sit
uation, and a liberal supply of grain at
fair prices is considered to hold out
better prospects for general business
than a short crop at high prices.
Cotton prospects are not encourag-
ing. Floods have washed out import
ant growing areas in the southwest,
while the mild winter and wet spring
have aided the boil weevil and delay
ed planting. AS a result prices jump
ed to the highest since last October,
the leading futures crossing p cents.
Whether prices will rise further or
discourage consumption remains to be
seen. 1t is clear, however, that the con-
sequences of a short crop will be miti-
gated by the effect on the carryover,
which had reduced to approximately
normal proportions.
Money Rates Easier.
A relaxation of money rates at New
York during the week suggests that
the Tightening occasioned by the trans
actions centering around June 1st has
passed and that there is no change as
vet in the general money situation.
Call money on the stock exchange
dropped back to per cent and in re-
newing at this figure on the exchange
set a new low record since April, 1913.
The prices for other forms of money
are still at or close to their low points
of the year and most quarters believe
that the major part of the decline in
rates is over.