Norwich bulletin., 1922-09-11
NORWICH, CONN, MONDAY, SEPTEMBER Ii, 1922
With Miners at Work
 Industry NH Thrive
The Steel Industry, Chief Suf- ferer From Strikes, Shows Signs of Improvement.

New York, Sept 10 (By the A. P.3-' With soft coal production reaching sat- isfactory levels and with the hard coal. strike practically settled. interest in business. and financial circles has cen tered during the past week in the extent of industrial recovery and the pros pectss for fall business The steel indus. strikes, shows signs of improvement The 50 per cent of capacity level of op- erations to which the industry was re- duced by the strikes has been abettered slightly and a further gain is expected With continued restriction of fuei and car supplies, however. the trade is mod crate in its anticipations A return to a 50 per cent basis this fall, is consid- cred more likely than a full recovery to the 75 per cent basis, reached in the early summer. Opinions differ as to the probable duration of existing higher steel prices, but most observers consider six months an adequate allowance
 Reports on the railroad traffic move ment continue to be reasonably 1satisfac- tory. The latest available returns, those for the week ended August 26, show to- tai loadings of s91,o 900 cars, a figure which tops the previous high record for the year. by some 13.000 cars Coal loadings, the statistics for which are ob-
 
 indicate a movement of this commodity at rate close to 10000, 900 tons a week. While the added demand for equipment on account of the resumption of anthracite mining will be partly met by use of hitherto inactive rolling stock belonging to the hard coal roads the opinion is held that 1t will also offer a test of the acuteness of the mach-talk- ed-of shortage. Financial quarters meanwhile believe that sthe railroads are getting their shop situation better in hand and that the transportation diff culty will not be as serious as recently was believed.
 Publication of September. values fol two of the principal indices of eommod 1 ity prices failed to disclose any up. ward tendency. One of the indices fel | half of one per cent, while the other remained practically stationary. Farn products, such as grain and meat. con 1 tinued to give ground rather sharply and aside from metals and fuel the oth l CT groups moved but little Partly fol l this reason, less credence is given tall of an infationary boom during the fall | The belief grows that the price ad vances will be confined to commoditie, i in which a temporary and abnormal sit 1 uation omtains and that the, compraa | and our agricultural districts will be : damper to any false boom AccordillG l to- this view a moderate but spntty i'm provenaent in bussness is in cards
 Crop prospacts AtIain iittie changed The department of agriculture has re vised it's corn crop estimate downward from 3 or .eoa. .ooo to 75seo0,0oo bush ! els principally as a result of the ho weather. damage in the southwest. Tn reyiison had been amply anticipated b. f the trade. however. and the departmen ] has placed the yield, of wheat some, 13. GOO. 900 bushels, higher ,atr Sf8,0eo,05 bushels. The latter figure s compare with an actual crop last year of 7s5. l o00,000 bushels. The returns. show sstha supplies will be plentiful. Europeal l crops are reported to be short but whiI a fair volume of European buying ha ] been going on, it has been insuf1cien i to stiffen prices in this country. It i ] pointed out that there is an obvious dlf i ference between what Europe might lik to buy and what that continent will D able to pay for.
 The reserve ratio of the federal re serve system shows another moderst decline. but the loss is attributed to hol iday demands for currency. Monetar conditions remain practically unchanged