Daily Kennebec journal., 1922-07-24
COAL and Pail:
STRIKES AFFECT
U. S. INDUSTRY
Congestion and Less
Coal Output Act
AS Check
Over Million Less Tons a Week
as Compared With Early
July-Falling Off in Steel
Production - Car Loadings
ket Easy

New York, July 23.-Signs were not
wanting in the country's markets
during the past week that the coal
and railroad strikes have begun to
impose an appreciable check on the
rates of industrial activity. Oddly
enough it is the shopmen's strike
which has been considered relatively
unimportant as an immediate dis
turbing factor, that has caused a
further important loss in coal pro-
ductiOn.
Serious congestion on the roads
conveying coal from the nom union
fields in West Virginia and Kentucky
to the steel works in the Pittsburg
and Ohio districts has cut the total
amount of coal mined in the country
from approximately 5,250,00O tons a
week before the July holidays to
about 100000 tons. The opinion is
held furthermore that with car short
age such a.factor, any majority gains
in mining in accordance with the
Presidents invitation will be diff
ficult as long as the railroad strike
persists.
What may be accomplished, ac-
cOrding to the view held in some
quarters, in q certain gain in output
in Pennsylvania and Ohio, which
would ease the strain on the more
southerly mines and perhc ps permit
the diversion of some of their coal
to coast points.
In the steel industry, it is estimated
that ingot production has been re-
duced by about five per cent, which
puts the industry on something like
20 per cent of capacity basis. Good
judges consider, however, that the
loss may reach 10 per cent by the
cd of the month unless the situa-
ton changes radically. Ohio plants
have suffered worse than those
around Pittsburgh, a considerable
number of blast furnaces having been
banked in the former state. Buying
of steel products for future delivery
meanwhile has been falling off, con-
sumers being discouraged by the Tn
Certainties regarding costs and mar
ket conditions. Those who lave
steel products in the process of
manufacture are, on the other hand
deliveries.
Car loading statistics also reveal
the effects of the walkout. Thus the
total cars loaded during the week
ended July 8, amounted to 716,000
cars as compared with $4,000 cars
in the previous week. The decline is
partly accounted for by the holiday,
but the total loaded is $4,000 cars
less than in the week which includ-
ed the May 80 holiday. A pa"t of
the general slackening of activity
might r. explained on the basis of
the mid summer season; it is quite
clear however, that the strikes are
becoming serious factors in business
affairs.
The markets for agricultural pro-
ducts continues to be quiet affairs,
influenced by the day to day changes
in the weather reports. With the
price of wheat below one dollar a
bushel at primary points, farmers
are moving their grain slowly, but
this restriction of supply is finding
an offset in meagre export business.
Crop prospects remain unchanged,
with cotton raisers still waiting to
see what damage the weevil will! be
able to accomplish.
Renewed ease in money meanwhile
has been keeping the security mark
cts firm, bond prices rejecting the
greater supply of idle funds with a
rather vigorous advance.