Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1922-10-30
BETTER BUSINESS TREND
UNDERGOES NO CHANGE.
Railway Car Loadings Remain
Close TO tho
Peak.
IKv Associated prnss1

NEW YORK. oct 2c-Thc trend
toward better business in Industrial
and commercial circles has UNDER
gone n" apparent change during the
past week. Railway car loadings re-
main cios" 10 the peak. and plainly
would be greater IL the roads could
furnish and move Il larger number
OF cars Thus the excess In the de-
mand for freight cars as compared
with supply on October Is. was. ac-
cord!nG to the American Rnilwa,
Association 1856, 900 cars The ci-
fcct naturally Is to restrain the
movement Of certain kinds OF traffic,
such as grain. aud to restrict tn.
mining OF coal
Nevertheless. this situation Is MOI,
az yet extreme and il considered to
have It's cOmpensatiOus. Steel
products arc moving in an amount,
approximately cpunl'to current pro-
duc,ion. and all essential needs OF
consumers arc reported as being
mot. SOFT coal production f. slight
~ higher. finally having risen abov.
IN. lO.00O.h00 tons a week level. Tn.
slowing down III the grain move
mcnt has had supporting effect on
prices. Some well posted quarters
consider the transportation situation
scarcely more dlincult rhan is uYu-
ally tho case when II heavy seasonal
movement Of freight is under way.
hallway buying Maintained.
As for the steel industry. OUTPUT
IL continuing to run slightly above
20 per cent OF capacity, and mills
appear 10 have accum,fCIions OF
orders on their books sufficient for
= number OF months ahead. The
scarcity market created by the
strikes still shows signs OF disap-
pearinS. Coke and pig iron prices
are lower and the premiums offered
for tho prompt delivery Of steel
products have about disappeared.
Railroad buying Is being maintained
and rail- mills are already working
on the orders booked prior TO the
october increase in prices.
win respect 20 farm products. Che
movements OF tho week were some
what irregular. Cotton pushed
ahead 10 new nigh records, the De-
c.mh"r future selling materially
above &c pound The strength
partly to its Impressive statistical
position and partly to the fact that
trade buying has been strong, due
h"th to the clearing up OF tho Near
Eastern situation ana to better ac-
ii.!ty ia tIe DIR? goods trade. Mean
"hilc speculative following has
been attracted by the spectacle OF
rising prices. Grain on the whole
lost part OF its recent advance
through proii;-takinc Optimism
based on reports OF foreign short
ages had been restrained by an an
probation OF the restricted nature
u foreign purchasing power.
Money continues TO display It's
frr.cr tone. as Is consistent with .x
pdndcd trad. activity. ], Is con.
sl'I'rcd that the demands Incidental
TO the latter have caused the with
drawai OF funds from securities and
mat this has been a leading fac,or
IN the decline OF bond prices The
reaction In tho new Treasury il-i
per cent bonds to 30 Is regarded as
having been due TO tho rctrcal a;
spectators who applied for the
bonds in the hope that the latter
would sell quickly at premium.
an oFer-cStended speculative posi-
Non is also though; TO have been
"a factor in the weeks decline I'm
stocks.
PRONOUNCED weakness in Belgian
francs. aud Italian lire. in sympathy
with renewed decline in the German
mark. commanded considerable at
tcntion. Francs sold below cents
and lire below !. prices which inIi.
cate marked anxiety over the Ger
man position. The PREPARATIONS corn.
mission has gone to Berlin to dis.
cuss matters with the German GOV.
eminent, but London observers roini
out that quick and definite results
VIII be necessary TO save the situa-
ton.