Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1922-08-24
THIS WEEK PIVOTAL ONE
IN IRON AND STEEL TRADES
Experts Believe Higher Sell
ing Prices Will Be
ABNORMAL DEMAND Is cOuiSc
sfhnd-tO-MOuth F:1istencc Cau.ed nv
Strikes DcrrehsinR--MIII EMPLOYEES
return to Work with Sniary Adj
. vance.
AnNonMAL DEMAND IS COMING
uy Il. l.. IIarniiIn,

written for the United News)
NEW YORK, Aug. 23.-Dcspite the
now element in our labor situation
created by the 20 per cent advance
IN tho wages OF steel employees, the
STOCK market was strong today. The
IRON age. IN tn weekly review. says
mat this wage !ncrcaBc and til.
Gran'!ng Of coal tninc twn@cs on
the old hish basis makes TINS ia.
rivotal week OF the year In tho iron
and Sta"l trade. because higher sell.
ing prices Will be the result ana these
i a question as TO how much FUR.
b. 'i"r selling prices can he advanced
Without checking GUINNESS.
Favorable Argument
wan street. however. LOOK. on the
si'cl wage increase a. IA favorable
= 1rrnncnt II was pointed out here
toGay that't steel corporation would
never have advanced wages un!ess
business in sight warranted such ac-
won. 1t ~ argued. moreover. that the
'atlr"ad strike. which has been hold
!nS ny buaincns. has stopped or
shortly will stop hand to- mouth buy
M In many lines. that business now
being held back will create an an
iprmn! demand compared with tho
'"tcut subncrma! demand Thus :,
,;nNrrable View was taken %! tho
stTll.c situation despite Signs that
-" railway presidents. who meet
i"rc 81; 1880 1t, the Val. club, ad-
JuuTn!ng al TO rccuitv.uc at to
j." IN session uutil after tn" close
"f the market. would Cour,cously,
but firmly decline TO give back the
iiriking .hop,ucu ,hclr seniority
rights.
lawrence wires announce that the
rscinc Mills. the largest there have
'Hrrcd TO take the striking employees
a. the wages in effect hcfott tho %
per cent cut was announced Tho
belief was expressed that tho men
would accept thus ending tbs long
t,rike.
Railroad Earnings Increase.
Gross earnings ~ t'I" ciass one rail
roads for the month OF June were
si73. $4,000. the Interstate Commerce
Commission at Washington announced
today. compared wGth tiGi.jsi.000 a
year ago Thus. despite the coal and
rail strikes earning Tor this June
showed q gain over thoE. tor last
year. Net operating income was $40
b3i. 900 against SJl,0S7 900 & year ago.
~ result OF lower wage and ma
tcr!Rl costs For III" SIX months
gross was I2.Gli. coo. 900 against 81 .
675.oOo.o6o for tho nrst half ~ 1921
with No, operating in"om" $4,000
100000 against only !245.00o.o0o for
tic same period Of last year.
Information received her" today
from Philadelphia indicates Pcnnsyl-
vauia VIII IN :. few days repor;
gross for JUly nearly up I" last year.
but not OF. owing to larger operating
expenses For the FIST half ot lh@2
gross. /, was stated. shows hn in
crease over last year despite the
coal strike With tito business now
in sight the last four months oi the
wear ar" expected 10 be good ones
United states Industrial! Alcoh"i
has wired 10 New Orleans to start
both OF the company's plants there AT
full capacity To handle orders In hand
The chemical end Of the business, II
was said Is also picking up.
All foreign exchange opened lower
this morning with German marks ht
n new low record for all time. the
opoulng being .C7. THIS compares
Win the par OF 20 $40 cents,