Great Falls tribune. [volume] (Great Falls, Mont.) 1921-current, 1922-11-19
Car Loadings Reach
High Point; Held as
Good Business Sign
BY THE WELLs-DICkEY CO.

were concerned there must be a sharp
differentiation between affairs in this
country and the problems besetting Eu-
rope. There is no reason to change
the opinion expressed some time ago
that the business recovery which has
been taking place should continue for a
considerable time to come. All of the
evidences of the past week crystallized
the sentiment in this direction. While
1t is true that this country is in q po-
sition where its fullest business recov-
cry cannot be reached while European
affairs are So unsettled, it is also true
that there is room for wide recovery
before We reach the point of actually
needing the purchasing power which
Europe might be able to furnish. Among
the favorable factors in the domestic
situation attention should be called to
the fact that car loadings have reached
a new high for the year and at a point
only slightly removed from the highest
loadings recorded for all time on Amer
lean railways.
There was a better tone during the
week III many of the markets. particu-
larly cotton and grains, the former NOV
ing to new high levels for the year. 50
far as general business is. concerned
there was greater demand for steel than
1 LII SVNNtd tht tihCS4 Il IuHH ne
accounted for in part by the increased
holiday demand. On the whole the put
look is extremely favorable and bust
ness men are showing an increasing
confidence in the situation. evidenced
by easier buying in all lines and in sub
stantially larger quantities.
Fear Labor Shortage
The one factor which may prove a
retarding influence in the general
movement toward prosperity is the pos
Sibility of a labor shortage. There is a
shortage right now in numerous lines,
due perhaps as much to a ~maladjust-
ment Of labor as to an actual lack. 1t
seems certain. however. that as ourl
productive capacity becomes more and
more utilized the country will find it. |
self up against an actual shortage. This
may near an increase in wages, which
must be passed on to the ultimate CON |
sumner in the form Of higher prices for |
what he buys. =
Exactly why there should be a labor
shortage at this time is not difficult to |
explain. In the first place, our pro-
ductive capacity during and since the
wal has been greatly enlarged, 'requir-
ing a larger volume of labor to keep
plants in operation. Secondly, our re |
80 - tiiAEIaIAbh pUlltf Aab HHt u |
tendency to cut down to a large extent
the supply of foreign workmen upon
whom many Zines of industry heretofore
have had to depend. In our anxiety to
provide labor for our domestic Dopula-
zion we may have become too strict in
our emigration standards and have cut
down a source Of supply which right at |
this time should be an excellent pre-
%ventive for rising prices. Numerous
statesmen and economists have taken
recognition of this fact and some today
are strongly advising a revision some
what of our emigration laws so as to
admit desirable workmen. 1t would be
particularly unfortunate at this time if
there should be any further increase in
the price Of commodities such as might
be brought on by bidding for labor.
which naturally develops in any labor
shortage. An increase in cost Of com
modities means al increase in the cost
Of living. and initiation Of commodity )
prices would do much to nullify the
steps which have been taken at so great
a sacrifice TO bring about a completion
Of the defIationary process.
Car Loadings Increase
A fair index to business and its
continued improvement is the record OF
car loadings from week to week. The
total loadings now are running around
one million cars per week. a total only
slightly below the highest point in al
history-that Of the week of Oct. II.
1920. 1t is evident, at any rate, that
a new record may be established. Such
being the case, there is likelihood Of q
greater car shortage than ever. How
ever, loadings usually fall off during
the closing weeks Of the year, and if
such happens during December this
should prove a measures Of relief. One
thing is certain, however, the railroads
will probably need all of the rolling
stock which they have in condition
and for which they have placed or
ders. When the delivery Of all cars
ordered is finally made, even then
there will be none too many. The rec
ord of requirements and additions to
rolling stock have not kept pace at all
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