The evening herald. [volume] (Albuquerque, New Mexico) 1914-1922, 1922-03-18

as ANH many N''H Nl ~
ing stability In business that are
making themselves felt from dny
10 day. Continued ease iu the
money market. q bc,ter demand
FOR prime Investments u stcudy
Increase In steel production and
"a more favorable outlook Tor pro-
duction and profits hy the leading
commercial and industrial enter
priscs OF the country have all made
their contribution To the progress
Of business rcconEtruction, and the
stock market three or four months
ago had already begun go fore
cast this condition.
Additions have been made dur
ing the past wcck 20 the list OF
husiHess corporations which have
published their statements Of
profits and lossur during 1891. A
few have made good profits hut
many have considered Themselves
lucky ~ break cyon. while per-
haps "a larger number have shown
"a balance on the wrong side OF
the ledger hut In every Instance
they have courageuuely written of
thc!r depreciation In the largest
possible figures, marked down
their Inventories far below 70 fair
replacement value and charged OF
an ~reccivuhles about which thcre
Us the slightest doubt Of settle
mont. Many have taken their
medicine IN one dose. and il will
bo surprising ~ tho end 81 the
current year does not find a com
siderable salvage from these So
called dead assets Of present rcck-
9nlng
Stool and Copper.
Particularly optimistic reports
are now coming from the great
/ centors q steel production. The
untitled tonnage report OF the INIT
| ed States steel corporation. az app
piled to conditions which are pee
culinr q the present tlmo. Is taken
as "a confirmation OF the reports
Of the speeding up OF activity Of
the plants OF n giant steel cOm-
pany Tile Independent steel com
panlcs have fallen into line. iho
Bethlehcm Steel corporation now
being rated AZ ncarl. Go per cen,
capacity.
u apparently needed In. one OF
! the companies to take the lend IN
iHvanc.ug the prices of steel bar.
! and plates for the movement IA
become quito g%ctAertl. pric-e haw
moved up from st3j 90 $3.50 Thu
VIII enable the steel companies Ia
gradually bring back their force.
ana TO prove tho way for "a rc-
sumption OF business on "a large
scale,
"a was generally supposed that
ono OF the first effects Of tho ces-
saiion Of hostllitlcs in Europe
would De- an overwhelming demand
Tor American copper 10 replace
that which was supposed 60 have
hcon fed 10 the guns during the
terrible onslaught on the western
front Calculations on this score
We're upset by the double reason
that EuroUe's copper supply was
not completely oblitcratcd and
even if the need were great Eu-
rope was not IN n financial posi-
don 90 purchase the metal from
us About two years ago AN avail
Hhiu copper FOR export was ulnlg-
od to "a corporation which ISSUED
bonds against a.. said bonds TO De
redeemed as the copper was ac-
tualiy drawn for export.
Europe la now getting into posi-
tiou 10 renew actively hrr inn
%purlation Of American copper and
some important sales have been
made. at very satisfactory figures.
during tho past week. Tho big
copper producers are also getting
ready TO supply the demand OF ~
heavy a demand upon them AZ has
',eon made since pre-war days The
HaNnNnW ~nMAIMnAHa NaHHA Na.l "a NANHs
period Of expensive inactivity and
il ~ gratifying TO note they arc
about 10 enjoy a season OF modest
prosperity.
Railroads.
Almost weekly Improvement %
made In the published statements
Of a holdings OF the loadinE rail
road systems Of fhc country. and
earning statements make a very
favorable comparison with similar
porioda Inst year. Il must De re-
mcmhercd. however. that iaat wear
was not o prosperous one tor the
country az "a whole aud that tho
business ~ tho carriers vas almost
nj q standstill In certain SECTIONS
81 the country.
Railroad managers have been ne
A-AAHHIANNNANNN ~ NANAINNN NHNNN|IN
elsewhere In transferring earnings
and surplurcH to the physical itn-
prOvement 81 their lines and hcrce
the carrier systems will be fully
prepared TO handle the rush II
business which the forthcoming
business boom b. expected TO hrinF
10 them. They atili looking
for freedom from the multiplicity
~ impodimcnts which are block
ing their way to progress. Their
fortunes nre largely In the keep
INK Of the Interstate commerce
commission ANA The railroad labor
board and both Of these tribunals
r disposed 10 assist them on the
read 20 financial aolvoncy. Rail-
road securities. directly and indi-
rectly. ARE hold By such a largo
proportion Of mi people that their
prosperity II inextricnbiy linked up
with the ultimate success OF the
roads.
Wl.sat and Cotton.
Farm reserves Of tho leading
cereal crops this year are an
somewhat reduced from the ener-
any large stocks held In farmers
hands nj the corresponding tsmc
last year, and the reduction clearly
denotes the effect on consumption
produced by the much lower range
or grain prices for practically all
Cereals which prevailed In tho
market last year. Last seasons
hnrvcstn Of an grains were less
than In the preceding year wheat
SHOWED n decrease In yield last
Of ah.0OO. 200 BUSHELS. vet the