Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1922-12-14
n He advance CT. agricultural
prices has put new life into

" lie advance CT, agricultural
prices has put new life into
= business in sections where
depression has existed, and the
volume of business being done in
most lines in all parts of the coun-
try is now very satisfactory. AS
4 rule prices of manufactures have
not advanced enough to cover the
advances in wages and raw ma
terials. with the result that COM
plants of little or no profits are
common.
The iron and steel industry is
going at about 80 per cent OF
capacity, and making Roadway
upon bookings accumulated during
the strikes. Pig iron is lower as
result of the resumption OF
numerous furnaces, and prices are
weaker in several lines. The fu-
ture is hopefully viewed, on the
strength Of buying by the railroads,
prospects for another year of ac-
tivity in construction work, better
outlook for implements and great
confidence among automobile man
ufacturers.
The textile industries have been
stimulated by the rise of raw ma
terials, all of which are regarded
in strong position, and are more
completely employed than for
more than two years.
On the whole the outlook for
business during the winter months
is good, with a promise of contin-
uance next Spring, providing de-
velopments in Europe are not un-
favorable, and that the rise of
prices in other lines does not off
set the rise that has taken place in
farm products. The fact cannot be
neglected that the prices of farm
products are dependent upon Eu-
ropes taking its accustomed sup
plies, and that prosperity cannot
be maintained unless the farmer
has a share in it.
The improved conditions in the
industries still partakes largely of
the nature of rally from the ex-
IRENE depression and low produc-
zion of 1921. Many experienced
observers do not believe that in
dustrial costs are low enough to
furnish the basis for permanent
prosperity.
Position of Corn Crop Strong
The November estimates of the
Department of Agriculture show
that the production record for
corn is higher than that of the pre-
vious month, and including the
carry-over gives a total available
supply for the coming year OF
1904, 100000 bushels, or about the
amount of last years crop, saying
nothing of carry-over. Considey-
ing that there are more hogs on the
farms, and a much greater number
of cattle in feed lots than a year
ago, the position of corn is very
strong. The way the record-break-
ing crop and carry-over of last
year has been disposed of augurs
we'll for the corn-growers in the
future. Calculations indicate that
approximately 3,200.000,000 bushels
of corn were consumed in this
country or exported last year and
there never has been but one crop
of that size in the history Of the
country, and but four crops ex-
ceeding 3.000,0O0,000 bushels. The
price in Chicago is about 20 cents
per bushel, and at western railroad
stations about double the price of
year ago.
Wheat is in a strong position,
statistically, in view Of the poor
crops of bread grains in Europe.
The normal pre-war wheat pro-
duction of France was about $685.
100000 bushels, and the normal
annual consumption is 340,000,000
to 345,000.000 bushels. A saving
of 100000 is expected from the
milling regulations, requiring "war
-four" to be used, but the import
requirements are calculated at
about 100000 bushels. The
grain crops of Germany are very
short, and this is true of Italy.
The situation is summed UP by
J. E. Hay, Canadian Trade Com
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