The Washington times., 1922-10-08

NEW YORK, Oct. decided
progress has been made in the ad'
iustrnent of Turkish affairs during
the past week. Armistice terms
have been planned which at least for
the time being will suspend the
further continuance of controversy
when signed. This has had salu-
tary effect on the world markets in
general, particularly upon the quota
lions for exchange and for staple
commodities. tending as 1t has to
stabilize both. It is now apparent
that the Turkish problem Is not
likely to furnish, a serious or press
ing issue. but that whatever larger
difficulties may grow out OF II Will
come at later date rather than
Immediately. While the Turks have
held out for more than they have
really expected, they will probably
be wise enough to recognize the
necessity of asserting to allied
opinion regarding the straits and
other disputed matters.
The Trend Of Business.
Further upward movement in
commodity prices has accompanied
increasing retail and wholesale de-
mand for goods during the past
week or ten days. and has reflected
the general activity Of demand all
over the country. The Federal Re-
serve Board reports unemployment
greatly reduced and in some lines a
shortage of labor-a view fully
borne out in many quarters, by the
developments of the past few weeks,
especially in steel and other staple
manufacturing industries. On the
railways, the movement of freight
has been pretty well up towards
capacity for practically all lines.
Coal and farm products have been
the bulk of the traffic, but other
goods have been able to move in con-
siderable quantity. The distribution
of steel Is proceeding better than
had been anticipated. and most
manufacturing plants have been able
to get all the coal they need. The
same has been true of public utility
enterprises, and while the consumer
is not well supplied, there Is now
little reason to doubt that his
necessities will be met from time to
time by furnishing current supplies
of fuel. There has been a remarka-
BILE continuance OF the bufruing
boom, which, IT Is estimated, has re.
suited in an increase of about so per
cent in the quantity of copper used
in construction enterprises. Steel
plants continue to enlarge the pro-
portion Of their works that are
actively engaged in production and
estimates represent the L. s. Steel
Corporation as having about IS per
cent of its plant now fully in opera
ton.
Effects Of Strike Palmer.
While the industrial machinery of
the country is thus being "speeded
up" the fact that the strike is far
from being without effect Is now
pretty generally demonstrated. 1t
appears to some extent in the show
ing made by industrial concerns for
the month Of August and, so far as
made known, for the early part OF
September as well. Railroad earn.
ings, however. show II most plainly
m August figures, where the ex.
penses are now known to have been
very materially increased. However,
the roads have done better than nad
been expected, and the agreement
signed during the past week between
the shopmen and a cons .derable num-
ber of leading roads -embody in writ
ten form the fact that the strike
was, on the whole, a failure from
the standpoint OF the employees. This
fact tends to confirm the belief that
there will be a period OF quiet on
the railroads lasting for an indefinite
period and likely to be broken only
when there Is decidedly new show.
ing withhregard to the prospects OF
RuCCaRa + the labor cnntaaf Mean.