San Antonio light. [volume] (San Antonio, Tex.) 1911-1993, 1923-01-25
THE MINE WAGE
settlement IS
PLEASING NEWS
Manufacture and Industry
Have Firm Basis for
Operation.
CRUDE OIL ADVANCES
Effect of Unsettled Euro
pean Situation Felt in
Some Places.
BY j. c. ROYLE,


Copyright 1928, by The San Antonio Light.
New York, Jan. 25.-FOrmal con-
firmation yesterday of the wage scale
for the bituminous mines of the central
competitive field, which has already
Deen agreed upon by both operators and
miners, will relieve fear of coal strike
April /, and give manufacture and in
duStry a firm basis for operation and
expansion. The terms agreed upon
practically duplicate the existing agree
ment and will be in force until April /,
1924. Although the Pennsylvania oper-
ators have not been represented at the
present meeting, they are expected to
sign with thir miners along with the
operators from Illinois. Indiana and
OHIO. Other sections of the country are
expected TO follow the lead of the CEN
trail competitive district.
The success of the conferences here,
added to better car supply and increased
production gave the coal markets today
a slightly easier tone. Domestic grades
remained firm and while there was a
let-up in tension in steam coal. those
| grades still were in demand owing to
heavy production schedules in basic
manufacturing industries. Indications,
| however, point to a slow if steady de-
crease in bituminous prices for some
| months to come.
Current production now exceeds con-
sumption by a fair margin, reserve
stocks are growing and distribution is
better. The situation in anthracite is
| far different, however. and prices for
hard coal are showing an upward tend
ency which is expected TO reach its top
in February.
Crude Continues TO Advance.
Continued advances in crude oil and
initial advances in scme sections of the
price of gasoline, marks the improved
statistical position of petroleum through
out the country. Although prices of
crude in the California fields have not
been advanced. production in that state
is mounting steadily. "California's oil
production will reach 100000 barrels a
day within the next three months" r.
T.. Cullom, state gas and oil supervisor.
said today. This estimate, he added,
was based on present development ac-
tivities and bringing IN of new wells in
the Long Beach, Santa Fe Springs and
Huntington Beach districts. The first
Shree weeks of January showed 40
1870 new wells being drilled than in the
Hast two weeks of December. The three
less than ) per cent of the proven acre
hge in the state, are, producing more
han 90 per cent of the present supply.
Mexican Shipments Lighter.
The falling off in the shipments of
he lighter crude oils from Mexico is
hiding demand for California light crude
bn the eastern seaboard and shipments
are going forward STEADILY through the
Panama Canal. Premium above posted
prices for Pennsylvania crude.
The improvement in the shoe manu-
featuring industry and the bright pros
beet for the present year were fully out
ined in a statement issued today by
george F. johnson. president of the
lndicott-Johnson Company who de-
Jared that operations in 1922 resulted
n a profit of S10.000,O00 and an in
rease of % per cent in the number
Il shoes shipped In spite of lower
Irices total sales increased nearly So
100000. With new plants now nearing
completion in operation. the output of
he company will average 10000 pairs
shoes a day compared with $4,000
airs at present and Mr.. johnson de-
Jared TODAY the. future was big with
he premise of better things.