The Union daily times. [volume] (Union, S.C.) 1918-current, 1922-09-26
In August, 1921.

SS|A 'ShiSie pTOuucC0n Tor the
first eight months Of this year an.
rroximated 1864, 600 cars And trucks,
and for the year is expected to sxcee /
100000. The present prosperity Of
tire automobile business provides EN-.
Eioyment, it is estimated, for 225OA
600 people, and its effect on other
lines may be appreciated when it i;
considered that 80 per cent of the
"ate glass manufactured in this coun-
try, 22 per cent of the aluminium sup
ry, % per cent of. the tin, 16 per cent
C the copper output, and per cent
OF the annual iron end steel produc-
ton are used in the manufacture Of
motor cars and their parts.
Unemployment in the country has
become practically normal. About
this time last year it was estimated
that approximately 5,5OO,OOO workers
Here out of employment. Today it IS
estimated that only 100000 are
seeking work, while another million
and half are on part-time work.
heports from various parts of the
country, in fact, refer to labor short
ages IN certain districts and trades.
Prices.
The general level of wholesale
prices as measured by the index num-
Der of the Bureau of Labor Statistics
which is based on variety of COM
modities, from raw materials to man.
t&ctured goods, has shown steady
1"vance in recent months until Au-
,"'st, fer which month the index re-
tE'ned the same as for July. Brad
r"et's index shows only slight in
crease in wholesale prices as of Sep
''mbor 1-$12.0793 compared with
Gi2.O6SS on August 1-on both ,fl
'hich dates this index was somewhat
irwer than on July l, when it stood al
$i2.1069. Dun's index indicates Al
light recession of wholesale price
;'Ir:ng the summer months, amount
I"g to less than l per cent. This in
"cN also reached it's maximum fo-
'"e recent upward movement on July
Expressed as percentages of 1913
Prices, Dun's index on the first Of
uly, August a i September, stood at
''i5.S 1887, and 1929, respectively.
Price movements, as reflected in va
: rs index numbers have been some
at confusing Of late owing to the
Great rise occurring in certain basic
c, mmodities, notably iron and steel
nd fuel. AS fuel is not included i'm
ms index, the recession in the in.
tces for bread stuffs, meats and dairy
oducts more than offset the increase
n the metals index. The indices for
her foods, cloth and miscellaneous
modlties have remained practically
stationary.
Iron and steel prices reached their
low point, after last ears liquidation,
curing the winter and early spring
of this year. The Iron Trade Re-
views composite average of iron and
steel prices in February was 1896
per ton. Since March, this average
has advanced more than 20 per cene.
The price of bituminous coal has more
than, doubled since the coal strike be-
gan. vsy -
As the coal strike, in both the BIZ
II minous and the anthracite fields,
has been settled on the basis of the
former wage scales and as the wages
cf employees in the steel industry hav
been increased, we may expect, even
after the fuel shortage has been over
com, the continuance of a high level
of prices for coal, iron and steel prod
rcts for some time. Nevertheless, in
View of the declines which have becn
taking place in other commodities,
notably certain agricultural products
which have been protected by the
Emergency Tariff Act for more than
year, it is doubtful whether such II
level can be maintained for any great
length of time. This is especially
true of the iron and steel industry, in
which the larger part of the purchas-
ing orders are placed only when buy
ets are convinced that prices are rea.
scaably low.
The effect of these geneally high
prices may be felt more in the form
of reduced consumption of these COM
modities next year than in any im-
mediate slowing up of industrial ac.
tivity this fall. The signs point to !:
moderate increase in business activ-
ity during the coming months.