Belington progressive. [volume] (Belington, W. Va.) 1912-1927, 1922-10-19
BETTER PRICES
BOOST BUSINESS
Rally In GTaln Quotations Fur
nIshes Surprise,
FEDERAL RESERVE RISES
over~ritino Of New Loan L Regarded
as Indicating Favorable investments
Conditions.

Conutuona.
New York. Better prices for
farm products and evidences Of
increased industrial activity marked
the past week In business and finance.
A hally In grain prices came oddly
enough ut q time when 1t was clear
that the crisis In the Turkish difficulty
had been passed. 1t was attributed
partly to reports Of smaller crops
abroad. In any event December wheat
rose about $100 bushel, which is
approximately ten cents above the re-
cent low
Domestic crop estimates made
public by the department Of agrI-
culture, show, ON the whole, very
little change, Wheat Is now placed
at S10O0O,000 bushels, or only eight
million less than in the previous gov
eminent estimate, while corn Is ex-
pected to yield 1883 100000 bushels.
or 21,000,000 bushels less than was
forecast on September /. In other
words, abundant crops of cereals will
be available.
tVhtOAit uttuINiiIts i4iiit04 ~ dDOfG
% cents pound, partly as a belated
recognition OF the bullish Statistical
position and partly because trade buy
ing, which was withheld pending
settlement Of the Near East trouble,
has now come into the market. Tex
lille mills evidently are planning I'd
extend their activities and are pro-
viding for their needs In the matter
Of the staple. Existing prices are
over two cents above the recent low
and are materially less than one centI
below the high Of last year.
The weeks federal reserve state
ments Indicate both an Increase In tha
volume Of business and Il movement
Of funds toward agricultural DISTRICTS
The reserve ratio Of the system is now
nearly per cent below the peak
which was reached ut the close OF the
season Of summer dullness 1t Is still,
however, approximately per cent
above the corresponding figure for Il
year ago. Discounts, deposits and note
circulation continue to grow. Mean
while the tendency toward slightly
firmer conditions IN the money market,
although no sharp rise In The cost &c
commercial accommodation Is antici-
pafed
Oversubscription Of the treasurys
new issue Of cougar Az per cent
bonds Is regarded as favorable indi-
cation as to the condition Of the In
vestment market. The new bonds,
which were offered TO the value OF
$500,000,O00 or Whereabouts, are pri-
marlly designed to provide the funds
for the redemption Of the $S70000,00O
in Victory notes. which have been
called for payment on December is.
After those notes have been paid Off,
the chief maturitles which will have
to be taken care Of before next July
viii be SG25,00000O IN war savings
certificates, which the treasury hopes
to refund in new treasury savings GER
tiiicates, and $1,S0o,00O000 In Victory
notes
Industrial returns continue encour-
aging The railroads have set new
high record for a year In the matter
Of cars or revenue freight loaded, the
total for the week ended September 80
being 99S,000 This exceeds not only
the number loaded in the comparable
week a year ago, but In 1920, when
the rail traffic movement broke all
records in the country's history Never
theless, car shortages continue to rep
resent the limiting factor In the steel
industry and In a number Of others.
Steel output has now made good all
the losses suffered on account of the
strikes and bituminous coal produc-
tion continues to approximate 10000
600 tons a week. Steel prices are
showing tendency to recede, partly
because recent shortages have been
relieved.