The Wheeling intelligencer. [volume] (Wheeling, W. Va.) 1903-1961, 1922-06-26
MINISTRY A|A|NT A|NS GAINS IN
SPITE Of LABOR CONDITIONS
Impressive Increases Shown
In Figures For the Week S
Car Loadings Goal Strike
Crisis Approaching.

Now York. June 25.-(By the AsSoci-
.,ed Notwithstanding the I'm
certainty comprised In the several Ia
hor dlsputes and the impending reduc-
lions in railroad freight rates, industry
maintained it's gains during tho past
week.
Steel mills continued TO operate NJ
nearly IS percent of capacity. ana tho
prices Of steel products remained hrm'
Buying for prompt shipment was
stronger than that for future delivery.
but this was considered natural ny mo
trade. since the future course OF prices
20 rendered uncertain by such factors
as tho change In railroad rates. the Goa!
strike. the possibility OF higher TABOR
costs and the character OF the autumn
demand for steel
Impressive gains were shown by tho
latest railroad car loading ngurcs-
those for the week ending June lO'-Ai-
though coal shipments. which haVe been
gaining, still amounted TO only SS'oUO
cars as compared with 2O5,OOo cars IN
the week before tho strike started. the
volume Of other freight Increased su1h-
GENTLY to bring total loadings up to
$4,000 cars. This figure equals that
recorded in the week before the strike
began. which is incidentally the hlgh
record for the year.
Coal Strike cr1aiH
4 number Of we'll posted observers IN
cllncd to the view that rriSis IN the
soft coal strike is approaching. Stocks
are being drawn down and the lower
freight rates on July are expected TO
stimulate demand. In any event the
pressure for added production appeared
70 be growing. 4 circumstance when
ravors the view that the decisive point
in the struggle IS Impending
Rerorts from New England said that
more OF tho striking textile workers
were returning TO the mills. The mills
appcar. however, to be sttll operating At
a comparatively low rate.
Opinions as TO tho likelihood OF
railroad strike continue to be divided.
The roads still profess to regard such
an event az unlikely and 1t Is pointed
out that there has been some slowness
in the ballot!ng. Union officials insist
however, that the vote Will favor a
walkout and that one will be ordered
Nothing definite has developed TO indl-
cate whether the train service employees
would declare q sympathetic strike II
tho staff employees who are concerned In
the present series OF wage cuts, should
so out.
Crop Prospects Uncertain
Crop prospects remained some what
uncertain but good yield OF wheat and
Il sub-normnl cotton crop are still prob
abilities. Some claims OF winter wheat
deterioration on account Of hot dry
weather In the northwest have been
made and prices have rallied about hve
cents above the recent low. but the
greater frmness Is attributed TO the
technical position OF the market rather
than to any material change In crop
prospects, Persistent wet weather In
the south led 10 higher cotton prices
early in the week. After tho weather
cleared however, the fresh advance was
cancelled.
Reduction of the rcdiscount rate OF
the federal reserve bank ut New York
TO -four percent basis offered fresh
support for the view that no early hard
ching In money rates is likely. Rates
for tho various forms OF credit are now
ut their low point OF the wear with
reserves at a high level, with the de-
mand for accommodation slight, and
with moderate trade revival rather
than 4 boom In prospect. the reserve
bank authorities evidently anticipate no
real strain on credit facilities during
the next few months.