Omaha daily bee., 1922-02-24
Signs of Prosperity
Extension OF Industry Noted
Through the Country Gene sally.
(Pfom tho New York Timss)


Happily Il Is possible TO record that the so.
luton Of the problem OF prosperity Is progress.
ing lar from the shouting OF the politicians who
are making ready 10 claim that they did II with
their little statutes or their taxes II is slimulat-
ing 20 note that the captains OF Industry arc
doing better than the captains OF the politicians,
Tomorrow will be awarded the largest single
contract ever made in the state OF New York
that Tor the Fehieular tunnel between New York
and New Jersey Ii calls Tor twenty millions 10
be spent Tor labor and materials. The Port and
Terminal Publishing company prints a list OF
Ss70OoOO0 ot contracts on port aud terminal
works awarded throughout the country, with a
longer list Of works projected Marine Engi.
neering and Shipping Age catalogues se270oDO1
OF contracts placed and pending This affords
a singular contrast 10 the inability OF the gov
ernment marine 10 find work for itself Ships
10 make profits must be made with particular TT
ness for especial work whereas our government
ships are mostly mishts. There are exceptions,
like the Levithsn. whose reeonditioning added
SS,OOO,OOo 10 the prosperity fund 10 he diSbutsed
through the Newport News Shipbudng COM
pany. Only few days further back there were
such items as the announcements that the Beth
lehem company would put S2S000000 into new
construction, and more remarkable still. that the
Atchison railway had found S45 $4,000 toward
capital expenditure in 1922
II only more railways could see their way
10 make such betterments, the industrial out
look would grow brighter. Our most depressed
industry is the iron and steel trade, and IL relies
more on railway orders than OH work for ships
aud ports. The railways can spend only as they
earn. Last week was published the results OF
December net earnings-S42 1861. .5oS against
Sl0,4l0,40f in 1920. This is better than had been
foreshadowed by the decrease of gross earnings
by 227 per cent. and yet not so good as il ap-
pears. Nevertheless. there is an unsuspected
volume OF traffce moving. as the carloads OF
revenue business prove. For the last week re-
ported they were 755,S8o, against 699.7lS in 1921.
and almost as many as in the better year 1920.
Every week this year has shown more carloads
moving, and the railways need volume OF traffic
more than they need increases OF rate.
Even the distressed farmers are sharing in
the tendency toward better times. Thus the
president of the Chicago Live Stock exchange
said on his reelection last week. "Live stock
producers are leading the way back to prosperity.
Hogs, sheep aud wool bring prices that mean
profits TO their owners. and cattle hold strong
stategic position"
OF those who sold their grain. in many cases
below the cost OF production. It may be said that
the future is left TO them with better prospects.
Just as they sold larger quantities for lower
prices so they may sell smaller quantities for
higher prices They need market judgment
more than credit but there will be no lack of
credit for new crops. Cotton planters may be
heartened by the census bureau reDort that con-
sumption during January was 526,552 bales
against 366465 in January.
A million new houses are needed to relieve
scarcity. There is hardly limit to the wages
that might be earned in this industry il he men
would produce at the prewar rate. They might
retain a considerable measure OF
their exorbitant rates, if only they would deliver
the work they easily might. Possibly more has
been done, or at least attempted, to relieve this
industry by laws. than any other. but the chief
result has been the demonstration that COM
pulsory REDUCTION of profits means reduction OF
wages However, beginning has been made.
and last week $3000000 hotel was started by
a betd New Yorker. The roots of prosperity lie
outside the capitals and the exchanges.