Every evening, Wilmington daily commercial., 1922-12-11
MARKED REVIVAL
IN IRON AND STEEL
In Normally Quiet Period Pri-
mary Textile Markets Have
Held Steady.

Evidence multiplies OF the marked
revival that has occurred In the iron
and steel industry. n had been expec-
ted that returns OF November pig iron
output would disclose "A further in
crease. but the gain OF nearly 10000
tons In the daily average was surpris-
ing. The November average OF 1890
tons represents the highest point In
fully two years.
During normally quiet period. pri-
mary textile markets have held steady,
about the only price yielding occurring
on transa tons in second hands. In
ventorlee have been completed by
many of the large Jobbers. with re-
ports indicating that, the last half of
the year has brought much more salts
factory conditions than prevailed In
the first six months. From a manufac-
turing standpoint. II Is significant that
production now ~ at the high level Tor
the year. and that many mills are en-
gnged well into next spring. with for
ward orders of substantial volume
good employment through the winter
IL assured.
Present indications in the leather
trade are for quiet conditions during
the remainder OF the year. and II n
stlll fact that spring footwear orders
are coming forward slowly. Statistics
of October boot and shoe exports. on
the other hand. show a substantial gain
in the quantities shipped abroad.
New business In primary markets
Is still largely deferred. as usual AZ THE
| season" reports Dun's Review. but
| there are indications OF reviving de-
mand In certain channels where dull
ness has lately prevailed Resump-
| tlCn Of buying in some instances has
been prompted by lower prices. YET
many sellers are no well engaged
ahead that concessions are by M
means the rule"
Returns OF production in the prin-
| cipal industries make favorable ex-
hibite. with the annual rate OF pig iror
output more than double the actual TO.
| tai for 1921. and railroad equipment
| purchases are being compared nov
| with the best previous records. Sucf
phases as these tend 20 strengthen con.
fdenCe IN he future. although unsatis
factory features are not wholly absent
L sNTtNf ANNNi hifFtAr Nliu UtfAhFf Ut
| which small reCessions occurred. an o'
the groups into which Dun's index
| number IL separated showed advance,
on December | over the November
figures
Nothing approaching general aotiv
] .ty in buying has developed in md.
markets. but some signs OF revivinI
demand appeared lsst week after NOR.
than a month ~ dizziness. Moderate
sized lots 81 certain descriptions o.
domestic packer stock were moved
Bank clearings last week at twent,
cities IN tho United States. - report
ed to Dun's Review. totaied e7.67e.S<s.
600. compared with ss.b+<.e57 900
year ago and 1891, s70, 900 in 1920.
While there was AN excess OF de
clines in Dun's list 81 wholesale quota
lions last week. the monthly indie,
number discloses a moderate rise. an
the present price level Is material
above the bottom point OF last year
AS inventories are completed, Their
: is added evidence that further sub
siantisl improvement in condition
has occurred during the quarterly per
, Tod now nearing A close. and the FAC
that not a few manufacturers nav
orders in hand running into nsN
spring Is rea@uring.