The Wheeling intelligencer. [volume] (Wheeling, W. Va.) 1903-1961, 1922-07-17
DBrrER DEMAND roe STEEL PRO
DUCTS RBRORTED BY u. >.
CORPORATION.
FAILING OFF IN Coal Production Not
Barometer OF General Business
Conditions,

New York. July lS-(By The Associ-
SSrt Press)-Wtth the country wv
major labor disputes still contributing
their elements OF uncertainty. business
and financial news during the past
week suggest that the trend toward I'm.
provement IS uninterrupted kaitroRo
carloadings for the last Week II; IN. 'o one
previous which set new hign RECORD
for the year. The loss Is accounted ior
by smaller coal shipments. nc move
nent Of merchandise showing turin
Indication that a better demand FOR
steel products 10 being maintained we're
confirmed by the June 30 total OF UNI
Corporation. IA OF the first OF nc
current month the corporatton,s BOOKS
show 5s55. tons OF unfinished business
Than on May SO and l.te4.ooo tons
above that Of February IS. when inc low
point OF the recent depression was war.
mode II Is estimated furtncrrS"re' I psrv
tho June 90 EisurT means s,n6 tmat "e to
more than I IN6. onO tons. which Is a
volume exceeding the corporation
monthly production capacity; NJ prgisd,
stack on account IT tho railroad strlke
the steel corporations rate OF opera
lions having been reduced FROM 80 pe.
cent to Is aIn% per cs9' certain MTu amount
~ anxiety over possible car sho,t
age this fall pHinttnG cur ma Ia Ia
Increase In new bus in"as which W."
acconpany termination ot the srlkc;
would coincide with the active per'ou
OF crop movement.
Coal production Lower.
Coal production for the week eh! !rhS
July shows marked decrease M
f fsanS Of pr things nS Soweve as aside from
the coal strike. the output MAS az. ~
cd by the July holiday. inc loss W
approximately l,500.oho tons IRON, s,e
low production Of recent weeks never never
ths,sss served 10 intensity the dram
an existing stocks. Quick settlenc..hS
az the strike stu seems un'ASS; "a al
operators and miners showing Iitl'c
posItion to agree TO temporary re-
s,,,,n,in, If mining at the old wage
scale.
Crop prospects Pair.
crop prosrcc:s are practically nm
hanged The department ~ aSrlcui-
ture estimates as OF July J naSaI SEs
!. I nisced ~ 5se 600. 600 bushels or vs.
600 o0n bushels below last year crop.
hut the spring wheat outiook
enough better to S S,T 600 ' Goo SSusheis,
T Tt total Is 9i.OOO.D 900 bushels more
,bnn ,aaf rcar's: II IL smaller than In
four OF the past eight year. snH ' are,
er than IN . tne IL, %'I prosp"ct with prices
,It,la rhaupc rho present gram Cr"P
nrop,Isss To he sufficiently good 20 IN
sure the continuation OF reN'Nai /"
general business.
The Money market.
ne,rlct y.nrs uulte consistent with
sSn~csations. Following ihc hoildaF
tSsre was a shrinkaEc In the volume OF
federal reserve note currency 49,
sIonr with gain in reserve prouEnI
a recoynrr in the reserve ratio OF N.
Combined federal reserve system. AZ
tSc same tim" the rate on eau none
aD The View York stock exchange re-
,axs5 further rnd In touching "a per
osnt reached IN" previous low record
for the year. Rates for ne Various gus
sorms ~ money arc accordingly a, ne
fou levels ~ the present cycle. ana INC
.,,ssttor remains as 10 whether or not
tss money market has quito touched
Aottor.