Norwich bulletin., 1922-07-03
RETURNS FROM INDUSTRIAL
 cENTERs CONTINUE GOOD


 New York July (By the Associated Press)-While the usual uncertainties Of the season and a few others of a special character have dominated the eoutrys markets during the past week. returns from industrial conters coatini1el good. Steel production has maintairei its latest gains, railroad ear loadings have reached a new high level for the year and reports from a number of centers mention active compc, i.lon for labor between makers of steel, automo- piles and railroad equipment on the one hand, and the building trades on the other Allowing for the coal strike, which naturally affects the showing of railroads serving union mines, the May earning statements of the carriers. which are now being published testify to further gain in the volume of traf- fic.
 : Regarding the seasonal uncertainties, principally those relatig to the Few crops, litle in the way of news has de- veloped. Fair weather in the cotton belt improved crop conditions somewhat and took the edee off the minor crop scare of two weeks ago; it also result ed in the cancellation of the correspond ing advance in prices Interest n the trade ha scentered in tomorrow's gov ernment crop report, private estimates favoring a condition in the naighbor- hood of 73 per cent The anout of damage which the weevil. which has had an unusually favorable start, may accomplish, and. accordingly, the ulti- mate size of the crop, remain largely matters of conjecture.
 Wheat prices stiffe7ed slightly, part ly on reports of sn1 < r supplies of the cash commodity and partly on disap- pointing threshing returns. There were reports. also, of somewhat better for eign buying, 'n tho course of faiter- Ing rally the July delivery reached the vicinity of $1.15. but the market was thin and uncertain as 1s i,1 facl con- sistent with it's ,between-crop character. A good yield remains in prospect and matl-order business is picking up well. Despite f1urries in call money, which carried the rate on the New York stock exchange as high as 1-2 per cent, the money market still holds at the low levels of the year The disturbance in call money. a form of accommodation which is extremely sensitive to temper ary influences. is generally attributed to special demands connected with the end l of the first half-year. The best observ- CTS expect pronounced ease again in 1 July. Opinion Is divided as to whether | the price of money already has touched bottom or whether 1t may still go slightly lower before taking an upward turn. 1 Developments in the coal strike are now commanding close attention. Stocks of fuel are dwindling and demand Is 1 growing. Some quarters point out that l the delaying of a settlement for another month or two might occasion a cal
 shortage later in the autumn. Tha aln- certainty regarding soft coal prices ss
 meanwhile, producing corresponding 1 doubts in related markets Production | of bituminous at non-union mines has
 continued to grow. but still falls fal l short of normal demand by at least two htrids. Anthracite output remains
 practically nil. All parties concerned 1 appear to be growing more anxious fol
 settlement, a circumstance which ia I vors successful outcome for the con ! ference called by the government 1 In contrast to their attitude regard l ing the coal strike most financial and i business quarters have seemed but lit l tie improved with the possibilities em. l braced in fhe ra fIroad x1-si.c-alif