The Wheeling intelligencer. [volume] (Wheeling, W. Va.) 1903-1961, 1922-10-09

Nav York. Oct. S.--Nith the Turkish
crisis apparently yielding /" the pro,
cesses OF negotiation. tinah'iai an.
business sentiment showed u'S,'','
recovery during the past weeN' Hna'r
rally in security price undoupted!F was
y factor IN the matter, but greater
disposition existed to look al the i"N"''
able aspects Of the domestic situation
Practically all the aNalIanle "'snN
point TO further improvement IN t"e
volume Of industrial production CaF
loadings for the week-ended september
90, the latest for which statistics are
available total 973,O0O cars. Il new high
for the wear. The new figure Is m
cidentally, almost exactly 100000 great
ar than tina, for the corresponding week
a year ago, and Is only $4,000 smaller
than that for the similar week In 1870
when the greatest traffic movement IN
the cuuntry'S history was under way.
Big Coal Production.
Ritummuus coal production contnueo
70 hold close TO the ten million tons
week level. 1t would be greater II coal
cars were more plentiful. Nevertheless.
the amount being mined seems to be
reasonably adequate tor the present
rate of industrial activity, since the
steel industry reports that Goa! short
ago IS 10 longer limiting factor ana
since tho price 80 soft coal has shown
tendency to rocede slightly during the
past week.
In the steel trad. ~. loss tn Mast
furnace capacity occa stoned by the Aug
ust fuel shortage has been made good
Pig iron prices as we'll a. those Of coal.
are easier. The supply Of iron evident
" is meeting the demand Where this
industry now feels the pinch - N ne
supply Of fraeh, cars Sutdh!" 10 The
delivery Of IT'S finished products. IN
ability 70 obtain such cars Is causing
some restriction in reading mill opera
tons. This slowing down Is not how
ever, large. The grain trade too. IS
meeting with some difficulty N moving
Its products both from the farms and
10 the seaboard. Cargoes OF grain are
reported TO be accommodating al eastern
lake ports. Prices for grain continue.
however. to hold all the better levels
attained during the recent war scare.
although crop prospects are not mate
rally changed Cotton prices also have
advanced well. partly in response to the
recent bullish government crop report
and partly because of trade buying
which seems to have been DELAYED pend
Ing a clearing up OF the Turkish crisis.
1t Ia clear that tho anticipated car
shortage has arrived. AS a corollary Il
may he stated that industry a. present
Is going ahead as rapidly as the COM
try's transportation facilities will per
nit Fortunately this permiss!on-as
witness the car loading fiGurcs--is fair
~ liberal. Financial circles are now
Interested tn see whether the improve
ment in the amount OF freight moved
will continue.
Money rates remain slightly higher.
The increase so far amounts To about
quarter Of one per cent and is consider
ed to reflect fairly we'll the increase in
loans and In the volume of commercial
paper and bankers acceptances cut
standing which has accompanied the
preparations for fall trade. The reserve
ratio of the combined federal reserve
system has now fallen ; per cent be-
low its high market. reached in Aug
ust. but Is still somo eight PER cent
above the level OF a year age. En
sharp Increase in rates Is expected
during the rest OF The year