Evening star., 1922-07-01
BY J. c. ROYLE.

Special Dispatch to The Star.
NEW YORK, July 1.-The end of
| the half year finds business moving
steadily at a winning pace. That
pace will be increased as the year
goes on. Business shows no signs
| of tagging. But whether business
J finishes 1922 a winner or trails in a
loser depends largely on the way it
| is guided. If it's impetus is not
| checked by avoidable obstacles or
wasted in ill-considered spurts sue
cessful year seems assured.
/ Today the long-awaited reduction
| in freight rates went into effect.
Immediately after the holiday a big
| increase in buying, production and
distribution may be expected. Buy
ers in every line all over the country
have held off to take advantage of
| the reduction in transportation costs.
After these orders have been filed
however, those closest in touch with
industrial and commercial affairs
| count upon business settling down to
| the steady, healthy, consistent prog
ress which has marked its course
| throughout the first six months OF the
i.year No boom is in sight. Conditions
! a sshotvn by business dispatches re-
ceived from all sections OF the coun-
try within the last twenty-four hours
| do not warrant one. There is no lndl-
| cation of any period of swollen
| profits 1t will continue to be year
4, of quick turnovers, keen competition,
close price and small, safe profits
| Three Dangers Threaten.
The sureness of these profits seems
/ threatened by but three dangers. Ihe
! first is the continuation or spread oil
| labor disputes. which menace produc-
! 5;ptr
inf1ation-the temptation-ln homeiy
! phrase. to bite off more than one can
! chew" The third is speculation, not
necessarily gambling in stocks ana
bonds, but speculation in goods ma
| terials, commodities or building con-
Commodities give small prospect OF
yielding extreme profits from specu-
lation. The period of oVercautlon'
however, has passed. The publlc Is
buying and has the Wherewilhal 10
paw. The retailer is buying because
merchants have realized that empty
shelves mean lost sales. Wholesalers
are buying to meet more than hand-
to-mouth demands. and raw materials
are finding a correspondlnsly IN
, creased market Careful business lhel:
| however, declare that this wave OF
buying may be checked by unwar-
ranted imitation of prices
Trend Toward Better Things.
The trend toward better things is
shown plainly in many of the basic
industries. The steel plants are be
hind in deliveries. Production Is
steadily being increased and the rae
tories are clamorinis for more men.
The automobile industry. which nor
nally says at this season, is working
at top speed, with no indication OF
let-up.
Paper mills report a steady increase
in orders and prices are firm Shoe
factories are selling satisfactory bllls
for immediate delivery and preparing
for a big fall business. Straw nat
dealers have had one of the busiest
seasons in years,
Building materials are tremendous
Iy active. with lumber, paints, glass,
cement and hardware in big de-
mand There is a shortage of brick
LAYERS, plasterers, lathers and otneT
skilled artisans in many sections ana
bonuses are being paid members OF
the building trades. Tobacco is sell
ing well and cigar and cigarette
manufacturers are aiding their sales
by energetic advertising.
The trend of oil and gasoline prices
is upward and drilling operations IN
the oil fields are on the increase. Fruit
and vegetable shipments are bringing
millions of dollars to growers In
every section.