Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1922-04-30
MANUFACTURERS NOT
ABLE TO FILL ORDERS
-Four Hundred Receiving and Seventy Five Transmit.
ing Stations in Richmond-Natonal State and City
Bank S review of General Business Conditions.

"N''HS III iSicnIEOnu, the radio
received Official recognition here from
the banking interests in q statement
on business conditions Issued yestcr-
say by the National State and city
Bank The rush to purchase radio
equipment, says the statement, has
reached Il stage where manufnctur-
efS cannot keep up with their or
uers. Of scventy-one licensed radio
broudcasting stations in the United
states. seven are operated by de-
parincnt stores. some OF which re-
port weekly sales OF equipment
amounting tn $4,000 or more This
may he said TO be our newest In
dnstry, but it is likely to have q
great future, says the statement;
Commenting on general conditions
this statement says that the coal
strike has not become Il serious mem
ace yet the chief results being a
two thirds reduction OF bituminous
output. virtual Btoppage Of, unthra-
cite mining. shutting down of a few
steel mills and furnaces, reduced ton
mage Tor the coal-carrying railroads
ana higher iron prices. Adverse in
nuence uDon general business has
been confined largely to the terri
tory adjacent to the mines where
heavily reduced buying power has
been witnessed.
BuiIdinK Prospect Lnrsc.
New construction under way
throughout tho country indicates that
this year viii break all records for
such work, barring Unforeseen emer-
Sencies. The inquiry for Industrial
construction continues exceptionally
heavy. Many brick yards arc sold
out. and. considering the material
under option the demand In several
localities exceeds the supply.
structural steel iabricatlnE shop
ynr t,,n
airy amounted to f3l per cent OF
total. as against 40 per cent In Jam
nary. and an average for tho whole
or 1921 Of 35 per cent There is
SUI m urgent demand for dwellings
and apartment structures in many
sections. but high construction costs
nave been serious barrier In many
places.
Consumpt!on OF steel lis increasing,
reaEardless OF price advances. March
was the hrst month since July. 1920,
where the United States Steel Cor
poration made substantial addition
10 unified tonnage. the gain being
sSS,V'y tons. The Whole industry is
operating from 65 to IS per cent OF
capacity. with increased buying OF
structural shapes. Tho total output
rs not greatly behind the pre-war
rate. when the heavily increased
-'ciiities are taken into account.
LnrEe Railroad Orders.
Release Of exceptional orders for
locomotives. railroad equipment and
o'her supplies explains tho pro-
hounced bettcrment. which reflects
hISo the Improvement of the auto
mobile Industry. II looks. therefore.
as II the trade had turned the cor
ner and that the mills would hook
Increased business from now on.
Further gains are reported in IN.
agricultural States as CONSEQUENCES
OF thc higher prices prevailing for
grain and farm products. This has
heen great relief, making possible
me reduction o! large volume OF
past-duc Indebtedness, which a vc, r
ago threatened serious compiled
tons.
the country's loan account has
been purified" the whole banking
position rendered safer and the credit
structure strengthened as n result OF
'"o ueia'ioh which has taken place.
increases Are Shown
Apart from the shipbuilding wards.
"hlch nave very little work on hand.
most branches OF industry show in
creascs from last year although the
recovery Is unevenly distributed. TIL.
country is doing business on n myrh
sater price basis. and the tendency
TO exact higher prices, where ~, 20
possible to obtain them. IS passing.
Spic~Aid recovery in Liberty bond
prices reflects the improved borrow-
ing position of the United states
treasury and bcttcrment I'm bankinr
ana business AFFAIRS. Rise OF l6
poiHts or more In certain Liberty
loan issues has brought checr ~,
confidence to several hundred thoua-
ana holders throughout the land No
otDer bonds were ever so widely die
tributed, and for that reason tho
striking gains have had broad senti.
mental effect.
Politicians who urged yor,o,.
measures to bring Liberties 70 nar"
realize now that tho best resuIts
~ere accomplished by estahIIshtns
general business upon n snundar
basis and introducing public and mi
vate economies h''
Foreign Outlook BETTER.
g., ntn imports and exports increased
In March and our foreign trade 10
becoming moro prosperous. Imnorts
arc higher than they have been M
any time since business denrcss;on
Ealhed headway. moro than one wear
ago. March exports, on tho other
hand' were the largest since Octo-
Der. Tho excess of exports ovor In
ports in March were s74,0o0' ooo ' a.
Just about double the Febr,,orv
figure. ruary
me better tone to the foreign c,-
changc market has been heInyn,
ln IN, and. while dollar credits
sun command high premium in
many countries. the situation 10 Con
orally more favorable than It was q
year ago. or even n few months arc
Better Credit Risk.
Europe is gradually becom;nc
better credit risk. and tho imnrere'
ment In the United States within
tn9 past month has been phenome.
nal. There is n definite impulse 70
"ard sustained betterment in rcnero,
Irade. Notwithstanding the coal stri,.n
and the complications which bawe
come from It, nave
BUSINESS is being conducted Gnu
tiousIy. however. as sensible movie
reahze That this is no time for tals.
ing undue risks or ignoring the So
rious hazards Of international finance
interest rates are declining gradual.
~ IN response to lcssened demand
and the exceptional strength OF the
country'si bank position.
IL is remarkable situation. In
which the strong points outnumber
inc weak and which contrasts sharp
siiy with the pessimism and uncer-
ttainty OF ono year ago. The hard
knocks OF 1921 made people conscr.
Vativc. and, whiio earnings arc in
creasing, there Is no revival of ar.
.,traysgant tendencies.
N "a