The Rock Island Argus and daily union. (Rock Island, Ill.) 1920-1923, 1922-02-11
BY j. ]. ROYLE.

OF business are commencing TO pal
ance. Prices in the United States
have ceased to swing in unison
They are neither being depressed
nor inflated in various commodities.
They are swinging both up and
down and are being Influenced less
by conditions as a whole than by
cond tions partio ular to each sep
arate industry. This tendency, re-
vealed plainly by business dis
pate hes received within the last "a
hours, is taken to indicate a still
further approach to normal condi-
'ons.
1t is only when prices and costs
are swayed irresistibly upward or
downward. irrespective of condi-
tions in each separate product that
business danger becomes immin-
ent. Normal conditions are safe
conditions. It is only when they
become normal or subnormal that
business as a whole is in danger.
1t is normal that special conditions
in individual industries should be
subject to varying demand. supply
mans meat is another's poison and
it is natural that prices should fol-
| low the trend of each commodity as
regulated by supply and demand.
Chimneys Are Smoking.
| In proof of this, the smoke goes
up the chimneys just the same
| the factory chimneys. That is the
| test. Industrial plant sare increas-
ing their output; they are hiring
more men; they are using more
raw materials.
! The cotton manufacturers of New
England are in the midst of a re-
adjustment of wages with a conse-
uuent lack of stabilization which
has checked buying to some extent,
while the southern spinners are
talking of restricting production.
But the wooden mills are running
full blast with assurance from the
! larger producer that wages Will not
eb cut this season.
Cotton growers in the. south are
clamoring for higher prices. Grain
grove however, are finding high
er prices and with them, assisted
by increased foreign demand, wild
er market for their crops. II crops
have suffered from droughts in one
section, farmers in other sections
stand to profit by smaller total
production.
Coal Strike Possible.
Coal operators in certain sections
are facing the possibility of a
strike. On the other hand, in the
great non-union fields of the Som
erset and West Virginia districts,
orders approaching war time size
are being received, the mines are
being groomed for capacity produc-
ton and record shipments are be-
! ing made.
| Automobile men are whett1ng
their knives in anticipation or the
keefiest possible competition and all
i are preparing to meet price cuts
with cost cuts. Consultations and
mergers are in prospect. Loggers
and lumber manufacturers are rap
| idly bringing their operations up to
capacity production. More men are
| heing engaged in all the timber dis
| tricts.
Railroad Buying Good.
Railroad buying of equipment and
materials is better at present than
il has been for many months. Heavy
orders are being placed in almost
every section of the country. Rates
are showing a downward tendency
and plans for heavy tourist and col
onist travel are in course or prep
aration.
Preparations for new building
construction are almost unprece-
denied. Much of this construction
is getting under way but the full
flood of the renewed activity is be-
ing held in check temporarily in
anticipation of wage readjustments,
as vet uncompleted, and stablllza-
tion of material prices.
The scent loaf of bread is be
ginning to make its appearance IN
many cities after an absence OF
wears. Flour demand is excellent
and a considerable tonnage IS being
hooked for export. Wool buyers
for the first time since the boom
davs after the war, are out on the
ranges buying the wool on the
sheep's back in response to demand
for material to put a coat on
mans back Prices are strong ana
many growers expect them TO go
higher. The retail merchants are
struggling in the grip of seasonal
duIlness and are making strenuous
efforts to break that grip by means
of vigorous advertising and bargain
sales. Cuts in oil and gasoline