Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1922-12-18
Increased Power
(Canfinued from PAGE One.)

| are steadier and good etuying from
manufacturers of radiators and sani-
tary ware is taken to indicate a con-
tinuation Of building operations ON
large scale.
| Soft coal production also is holding
up well and the easing Of the strain on
| the railroads as result Of the normal
| seasonal tendency is reelected by an
other fall in the total excess demand
! for freight cars. According to the
| american Railway Association, this
| figure stood at $4,000 ears on Novem
| Der so. as compared with 114,God on
/ November s. Loadings of freight
| meanwhile continue to run far ahead
son in any other year.
| Trade reports, too. add their word
of encouragement. Holiday buying is
| strong and is interpreted as indicating
! increased public purchasing power.
Such a conditions is. Of course, con-
! sistent with the full employment Of
workers. which is now in evidence in
most sections of the country. a dis
tinctly cheerful tone is apparent in
business circles, although it is real
| lied that there is still reason for eX-
ercising prudence and self control.
Commodity prices are firm. Cotton
has rallied back close to the high
prices of the year. although the de-
! rartment of agriculture final crop cs-
| innate places the total at 9.9G4 600
! bales which is nearly one million bales
! more than was talked of when prices
We're at their previous peak. Mean
while it is stated that three quarters
of the crop has now been sold by the
producers and as good prices have
ocen received and the cost Of produc-
ton was low, the position in the South
has been very greatly improved
In grain. the weeks rally carried
wheat and corn prices 10 new high
marks for the year. December wheat
touching sl.25 is and hes same deliv-
cry of corn reaching 76l cents. Part of
this rise was due to talk of increased
credit facilities for farmers and ex-
porters, but part is a result of the in
herent strength of the situation and
expectations Of reduced acreage and
. low condition in the week government
report on the new crop. In any event
the farmer is proiting ty the rise in
prices
Despite the expansion Of Industrial
ana trade activity. money rates remain
relatively low and banking reserv IS
sun stand at high point The easy
condition of the money market and the
smooth working of tile cuuntry's hank
ing system are testified to by the alb
| II iSf, ri,
uate' When the government turned over
approximately one billion dollars in
connection with it's rcdemptions and
! Lax corrections. Bonds are DISPLAYING
slightly firmer tone and money is ex-
pected to be plentiful ever the wear
end.
- ne week was unusually production
OF interesting but unreliable rlmors
~ wan street. A sharp rise in sterl
! me- Whlcn amounted to ever 10 cent
IN Two days, drew forth story of .
! large British loan in this country
winch was quite witho,.t foundation
| Actually, sterlngs strength seems ~
| nave beon due to a special non-yovcrn.
''eh' ueHiand Tor that currency which
J i''e a. time when supplies were
| .a''S' summary, reports We're nut in
| circulation Of huge international
| ioah 70 Germany; but these also found
no credence in the best reformed quar-
| ters. 1t is clear that the administra-
tion feels that something should he
| oohe to straighten out the Europeap
situation, which is cons ,dered by most
observers to have an important bear
! 'hs On our own prosperity. but it would
appear that definite measures remain to
be decided On.