The Wheeling intelligencer. [volume] (Wheeling, W. Va.) 1903-1961, 1922-08-07
Ill STREET IS
Y STILL HOPEFUL
RELIEF PRpvArI STRIKES WILL
END BEFORE BUSINESS RE
vrvIAL KILLED
Yi.Anctal Quarters Focus Attention On
Coal Production and Traffic
Statistics

New York. Aug s--tRv The Associ-
ate1 Fress)--Whne the strikes have eS-
erted an Increasing effect on Industrial
activity during the past week and while
foreign developments have been some
what unsettled. the undertoue in the
, countrys chief markets has remained
cheerful Security prices have held up
3well and me view sin prevails that the
strikes will De settled before the bust
ness revival has been seriously crippled,
with the railroads refusing the presi-
dents proposal for n restoration OF full
seniority 70 the striking shopmen. An
ancial quarters are now focusing their
attention on coal production hgurCS and
railroad traffic statistics
Taking the latest available figures.
those for the week ended July 80. the
movement OF freight exclusive ~ coal
remains remarkably good. Total load
lnSs OF S6l. 0nn cars showed a slight i'm
provcment over the previous week and
were within $4,000 cars OF the record for
the year. Exclusive OF coal. the load
ing were tho highest in history tor this
season OF the year.
Coal production appears 10 he re-
covering but SLOWLY from the low level
OF three weeks ago Continuing the
slight gain previously recorded. the PAS:
week started with a further bcttermcnt
Although the complete fEures for the
week are not vet available. 4 would ap-
pear doubtful whether output has risen
very materially above the four million
ton Level. Much depends therefore. on
the success oi the measures now being
taken 10 reduce congestion on the coal
CARRYING roads.
Steel Chief Sufferer
SO far the steel industry seems 10 he
hA obi n
\ strikes Not long ago both the steel
corroratior and the independents were
Operating at approximately - percent
Of capacity During the past week the
rate for the former fell 70 10 percent
and that for the latter to sixty percent.
The loss has not been as rand as the
trade anticipated but II is believed that
conditions will become worse before they
become better Stocks OF coal are be-
ing drawn down rapidly and here as in
certain other industries, II is though
that many more weeks cannot elapse
before a severe curtailmeut is necessary
Crop Prospects
CrCp prospects showed little change
The governments cotton estimate as OF
July 25. which was made public on Tues
daN showed an increase in ANTICIPATED
WELD Of 1854 000 bales. the crop being
placed at lL.499. 600 bales Neverthe-
less the trade had expected the crop to
be some 25.0oa bales larger than actu-
ah-- t to be the case. 4
SHARP 10y in prices occurred. but the
gains were lost before the week closed
Grain prices continued TO drag and trad
ers expect tomorrow's government re-
cord 70 show a slight increase In the
yield OF wheat.
Money rates remain al recen, low lev
IL sfEh cd L. s-Ak
enirE; and the reserve ratio Of the COM
hined federal reserve system has reach
id a new high OF 7e.s percent. This Is
due partly 70 !mportatlons OF British
gold which may have ceas ed for the
time being. but IL is clear that the I'M
DERIVING credit system has been under
mined.