Evening star., 1922-09-10
STEADY RISE NOTED
IN QUOTED STOCKS
Cited as Supporting Predic'
j tion of Industrial Revival
| Despite the Handicaps.
STRIKES ARE DISCOUNTED
Commodity Prices Becoming More
Stabilized-Eastern Manufactur-
ing Centers Report Labor Shortage
Blythe Associated Press.

B, TIE Associated Press.
NEW YORK, September 9.-Wail
Streets belief that a moderate INDUS
trial revival was in prospect for TINS
fall. despite the handicaps imposed
by the miners and railroad shop
mems strike, found expression in the
steady rise In quoted values in the
securities markets. Wednesday
rather sharp reaction was generai!S
regarded as being due to n reaoJust-
ment of the technical position, VIZ
tually all of the losses being re.
covered and gains made IN the next
few days of trading.
No Longer Held Ms Menace.
Traders no longer regard the
shopmen'S strike serious menace
in the railroad situation, hasing their
optimism on the steady increase IN
carloadingS of revenue freight ana
corresponding decrease IN Idle cars
and the apparent expansion IN tne
earnings of the hrSt-claSS roaus'
which were able to report a ne.
income for July of only one-tenth OF
one per cent less than last year I,
despite the heavy expenses incurred
as a result of labor troubles.
Commodity prices appear 10 haNe
become more stabilized. Coal and steel
prices are tending upward because OF
strike conditions, but dispatches
from the iron and steel centers liut-
cate that the higher prices are put
temporary and Influenced largely by
the increased cost of operation due
to the high costs of fuel and scarcity
of material. Grain and meat prices
showed a reactionary tendency, as
did those of cotton. which was con-
sidered ii bit unusual because OF the
abnormally smell supply of the prod
uct i'll prospect.
Labor Shortage In East.
Eastern manufacturing centers re-
port a shortage of skilled labor. while
n agricultural districts of the south ana
northwest indicate that unskilled Ia
borerS are in great demand tor the
movement of crops. but the shortage
is considered "A temporary one. sea-
sonal falling off of automobile pro-
duction and building trades activity
is expected to release thousands OF
men for other lines of work.
Postponement of the German repa-
rations problem to November has re,
moved another crisis which mas had
a depressing effect on foreign ex-
change rates The plan of Hugo Stin-
mes, German industrial baron, for the
restoration of the devastated districts
OF France with German materials mas
been favoTably regarded In local
banking circles, and has been con-
strued in some quarters as forecast
ing a downward revision of the Ger
man reparations payments.
Foreign Exchange Says.
Foreign exchange rates sagged
bit this week in response to the heavy
offering of demand sterling bills
against grain and cotton shipments.
The heavy increases in the note cir
.culation of France and Germany.
which totaled 572.O00.000 francs and
23,sO0 200, 900 marks. respectively, also
was contributing factor.
Call money rates held fairly steady
during the week between 4 and Az
per cent. as compared with a range
of 80. to per cent the week before.
More activity was noted in the time
money and commercial paper markets,
with the rates inclined to frmnesS.