Atlanta tri-weekly journal. [volume] (Atlanta, Ga.) 1920-19??, 1922-07-11
GENERAL BUSINESS
STILL IS IMPROVING
IN SPITE OF STRIKES
BY HARDEN COLFAX
Heasec Wire Service to The Journal.)
(CoDyripht 1900

WASHINGTON, July 8.-The rail-
way shipments strike during the
first eight days of it's life apparent
ly has failed to make any impression
whatever upon business conditions
or 10 retard the continued progress
toward prosperity.
Preliminary reports OF freight
hauled during that period, made by
the chief railroads to the American
Railway association here, state that
traffic continues as normal. Car
loadings fell off during the week, bur
as they invariably do fall off during
the week of the Fourth, such sit
nation was expected.
Reports of conditions obtained
during the week from every state by
the departments of commerce, labor
and treasury show that business con-
tinues to improve, Notwithstanding
strikes in the coal and transporta.
ton industries involving approx.
mately 100000 men. Anxiety is
felt with respect TO the coal situa-
ton; but official missivings have
failed thus far, to reflect them
selves in the business world. No
industry of appreciable size has been
affected as vet by a coal shortage.
The railroads are reported as hav-
ing on hand a comfortable supply
of locomotive fuel coal and the pub
lie utilities companies on June Is,
both conservation and replenish-
ment ofsstock from nn-union sources,
has kept their coal stocks at about
the same figure AS when the strike
occurred April /, according to re-
ports to the department of the in
terror. Retail dealers had consider
because of lack of demand during
the spring.
Car Loading Figures
Analysis of car loading discloses
that with the single exception Of
1920, the railroads are handling at
the present time a record volume of
business. The total number Of cars
loaded continues to mount. During
the week ending June "a, latest
period of available statistics, the
total number of cars loaded reached
ST. 1856, an increase of more than
1900 cars over the preceding week.
1t would not surprise railroad Of
ficals if loadings jumped to a rec
ord-breaking figure for this season
of the year some time within the
present month.
Employment is reported on the
increase in the chief industries fill
ing returns with the employment
service of the labor department. On
July l. the summary shows the 1923
concerns canvassed by the service
each month had on their pay rolls
$4,000 workers more than the num-
Der reported June 1.
The service announced that the
nation is striving vigorously towards
industrial prosperity" and estimates
additions to the pay rolls of i'll
duStrial concerns throughout the
county at 10000 during the month
Of June. This is an increase OF
lHOle LIIdil lHAeS pei CeAI "4l4lA
thirty days.
The weekly statement of the fed
eral reserve board indicates clearly
that money is being withdrawn from
the banks for business enterprise.
Deposits in 799 national banks IN
the chief cities declined during the
week by almost $70,000,000. but still
stand at considerably more than
81 000 nm n00 n no Of q
year ago. Within six months these
banks have increased the amount
of their loans, mostly for business
purposes, by more than 100000. 900.
The extent to which business is re-
viVing is indicated further by the
amount of capital authorized for
new interpretations during the first
half of the year. This sum is nearly
$4,000, 100000 and is within hailing
distance of the banner period Of
1920.
Investments Large
American investors, according to
tabulations made by private organ
izations, are lending money to for
eign governments and industrial con-
Germs at rate of more than $1,000
100000 a year. During the first
half of 1922. the tabulation shows,
more American money was invested
abroad than in any class of domestic
securities. It exceeded the total in
vested in American railroad securi-
ties, or American industrials or
American utility companies. The
total of foreign loans was exceeded
only by the amount invested in
American government short term
securities.
All these loans to foreign bor-
roWers were made through regular
business channels, being handled b.
American investment houses, and
none through the government. The
state department, however. has been
advised in advan of the flotation
here Of virtually every issue of for
elgn securities.
Iron and steel production stands
at nearly ninety per cent Of capac-
.ty, according to returns to the de-
partment of commerce, having dou-
bled within year. Copper pro-
duction, according to the same au-
thority, has nearly quadrupled. Pro-
duction Of news print paper has
risen sixty per cent, and the output
of other products shows an increase
varying from thirty to more than
one hundred per cent.
A quickening of demand for
steamships, ascribed to the increas-
| ing volume of exports, is noted in
maritime circles