Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1922-12-04
INDUSTRY IS HOLDING
UP REMARKABLY WELL
Car Loadings for Week End
ing November Is Show
Improvement.
TRAFFIC. vEMEHr GOOD
steel Production Also Continues TO
Maintain Eetter Itnte Thnn Had
Been EXpcctcd-PiK Irpn Pr1ces
show Tendency to Work Lower.
by Associated Press.1


NEW YORK. Dec. 3-Indiccs OF
Industrial and trado activity con-
tinued satisfactory during tho past
week. II tendency toward a slight
slowing down In production has been
apparent. this is regarded as nat
nrhi development at this season and
IL compensated for by the improve
inent In retail trade. which comes
with cold weather and tho holidays.
AS a matter of fact Industrial ac-
tivity Is holding up remarkably
we'll. Car loadings for tho week
ended November Is. totaled 100000
cars. which IL close to the high
record for tho year and we'll above
anything previously accomplished Mt
this season. 1t is probable that the
acute car shortage. which developed
during October. has had the effect
OF throwing part Of tho traiic move
ment over into November. but evil
dence or gradual Improvement in
transportation conditions is strcng-
.hehea ny Il decrease In the excess
demand for freight cars. as reported
by the American Railway Assoc,a-
tion. Taking everything into con-
sideration. It would appear that the
ran movement Of traffic has been
tho largest and best sustained In
tho country'a history
hteel Production Stendy.
steel production also continues to
maintain better ratio than had been
expected Various authorities place
OUTPUT at close TO so per cent Of
capacity. which means that no d.,
nIi"u''on mas taken place In the
yenI best rate Pig Iron prices arc
still moving n tendency 10 work
lower In company with those OF coal
ana inc prices OF finished steel,
products. which have been remark.
ably steady for n number of wceks
arc being shaded slightly. The nub
o' the situation seems to DO ,ha,
while the United States steel Cor
poratiom and some OF the indopcn.
uen's have accumulated n good back
log OF work. other independents ar.
not so favorab!y situated. No LARGE
reductions In steel prices are ex-
pectcd. however.
one OF tho deyeIorm.,,,
chused satisfaction In financial c,-cIos
was the publication OF a large nr,
portion OF the October ra!lroao
earning statements. RearIrr IN
MIND tho serious a.ter-effert of tbn
! H'T'Ne. the carriers effort to nut Tho
Equipment In shape for the maximum
""F!hT October and the disappoInt
ihg character of the September rc-
turns. which gave only q. per cont
E"'Hh'ion, most observers had
anticipated poor earnings In October
~ hEst gInnco the actual reports
might be taken az indicating ma,
( n "A
com parisons with October a v.ar .yo
disclosed a generally falling or -,
net october. 1921, was. hownycr
an unusually good month "a net
| cent OF valuation being earned
meanwhile the comparison win
september is encouraging. Tins
hrty-'our class one railroads earned
net OF 1905 600 IN October ss cor,
pared with ;45.0O0.ooO in the pr,viou.
month. As heavy traf'lc moyernont
continued In November. Il IS an
parent that tho carriers, purchasing
p""'r is likely 10 be considerably
posed. sup
Railroads Affect Stocks.
Possibly the better railroad s,,,,
'n"n'' had their efrec, on s;ocx
'Tices In any event. the latter
Fa.Lied Vigorously during the week
active short covering being in owl.
"chce over tho entire list. Monetary
CONDITIONS continue comtortal.l. and
'h"r" ~ little expectation OF any con-
siderable disturbances in tn. Ino,or
market during tho rest Of the wear.
IN" commodity markets bays
iai'sed back into a relatively stag
haht condition. Cotton continues IN
ne houSht by trade interests yhcn
'"I!s to the Recent level. and TO
o., s"'G When II moves up close to
~ ana the market is awaitin., III.
government ginning report which
VIII De made public next Fridnv
neat prices rallied after mo va
action OF week ago, strenc,b -,
ing most magk"d in December con-
,a, on which the first dclivcrie,
nave heen light. EXpor, demand ana
'he car situation are SIN consi,;orna
modify. oi"-