Evening star. [volume] (Washington, D.C.) 1854-1972, 1922-04-22

Special Dispatch to The Star.
NEW YORK, April 22.-Money is
easier in this country. But 1t Is not
easy money in then slang sense OF the
phrase. From a nation Of spenders
Americans are rapidly becoming ma
tion of investors Income il coming to
mean more to them than merely a pay
check. They are investing before they
are spending, and as consequence
are in a position to spend more than
ever before. This tendency is plainly
in evidence in business, commerce ana
finance.
Bankers report that business men,
merchants. manufacturers and farm
ers are better able to finance tnem-
selves without borrowing than tney
have been for many months. Conse
auently they are able to borrow waeh
necessary on advantageous terms.
Millions of dollars a day are going
into sound. conservative investmeh.
securities. Bond offerings are snapped
up almost before the books are
opened.
Railroads and industrial plants have
been able to supply their capital needs
for improvements and expansions
without difficulty. Part of that HOOD
of money now is flowing into bu1ioinS
construction and mercantile enter
prises. with consequent Improvement
in employment and buying power Tor
the public.
steady and Consistent Trend.
Conditions. therefore. arc improv-
Ing throughout the country. but 1t is
a steady and consistent Improvement
with nothing of the frenzied fiuctua.
tons of the war and postwar years
about 1t. The farmers not only are
facing the prospect of excellent
crops. but advancing prices for agri-
cultural products have enabled them
to sell holdings OF grain. cotton ana
live stock at profitable figures. This
has given them ready cash for their
immediate needs.
1t is a significant fact that some OIL
the recent advances in wheat have
followed the initiative of the foreign
markets, and suggests that the idea
of superabundant world supply is
being less firmly held abroad as the
season advances.
Selling Last Years Holdings.
What is flooding the elevators and
railroad trains of the northwest is
that farmers of the prairies. both
American and Canadian. are taking
advantage of this to sell their last
years holdings.
Predictions of increased sales OF
woolens and worsted at higher prices
by the president of the American
Woolen Company have had a hearten-
ing effect both on the wooden goods
trade and on the market for raw
wool. This sentiment has been forti-
fled by reports that the leading
wooden goods producer has been ac-
lively in the market for the raw
staple.
The market for cotton goods has
shown marked improvement in the
last week, not only In the range of
prices. but in the volume of business
for domestic and export consumption.
The strike in the New England cotton
mills, however, approached no nearer
n settlement.
Lumber Demand Exceeds supply.
Lumber has reached a stage where
demand is exceeding the supply In
spite of the fact that the larger mills.
both in the south and in the Pacific
northwest. are working on schedules
above normal production, and the
woods crews are carrying all the men
possible to secure. Railroad and wa
ter shipments are extremely heavy.
steel prices are advancing both for
j. finished and semi finished products.
but so are coke prices. While steel
production is on the increase. how
ever, coke production. especially in
Pennsylvania, is decreasing rapidly
and there is tendency to bank some
ent coke prices and take the chance
of failure of supplies. Many mills.
however. are using oil fuel or natural
gas in the furnaces and preparations
for increased oil production are un-
der way in many OF the petroleum
centers.
Rails Are Buying.
Railroads are buying equipment and
supplies more heavily than for many
months.
Automobile manufacturers are I'M
able to keep pace with demand, al
though additions are being made to
their working forces daily. Ford Of
ficials predict the biggest year. both
in production and sales. that the Ford
Company has ever had. Hardware
sales are improving the country over,
rejecting especially the tremendous
activity in building construction.
Millions of barrels of cement are
being called for, not only for build