San Antonio light. [volume] (San Antonio, Tex.) 1911-1993, 1923-01-01
BY J. c. ROYLE
Special Correspondent Of The San Antonio Light
Copyright. 1922, by The San Antonio Light

Special Correspondent The San Antonio Light
Copyright 1922 by Antonio Light
49, N York JAM 1.-The year of 1922 has seen the I'M
scramblng of virtually every great industry IN 'ife
States Business which for time rested the scaftoding
and false work of abnormal and sbnorma conditions again
is on sound solid and permanent foundation
No boom is in prospect There no indications OF re
zied price movements Competition will be keen and prol''
margins will not great But there is every lndicauoh
conditions that business activity will continue to IN
and the level of the industrial and commercial pros
nerity will continue rise at least for the next six months
New standards of comparison have been adopted Mer
chants manufacturers farmer and business men IN every
have realized at that neither the prewar days OF
tho hectic activity and tremendous profits of the years mme
datey after the Armsce the dark outlook Oh the
of depression and deaon extending to the beginning OIL m
year represent any longer the normal Level Oh
Bushes. at New Normal Mark.
This country right now is experiencing greater pros
ertv than its citizens generally realize The pendulum Oh
business is lowering at that new normal marx WIFI"
this wears progress has established That pendulum never
STILL the upward swing of prices and producuoh has HUI
completed Its momentum bids fair to carry II on lol ar
other six months at least and perhaps longer Any SWING
probably will the steady pace as the advance
and will be confined within the same we'll regulated MINUS
Factors in Improvement
Three great factors have marked the difference between
tho denreson of 1921 and the prosperity of 1922 Ihey are
vome of production and sales increase in the buying po"
Of the nation and management. When the year opeheu
scarcely industry in the country was operating Oh
capacity basis. Many plants were closed entirely MANY
oncerns had written off absorbed high priced inventories
mt others still had goods which they could not move clog
lying their advance.
Demand however, began to improve materially IN the
second quarter the year. Merchants either wrote OH he
osses or averaged their high priced inventories WIN e
of goods obtained cheaper prices Buying was
conservatve but it was steady and demand increased pro-
Sportonately
IA Basic Industries Near Capacity
As consequence at the end of the the great basic
ndustries the country operating close to capacity ana
he greater number have orders on their books Whch WI"
them busy undmnshed rate for months to come
The steel industry of the surest indicators OF indus
rial activity lust as wheat is the agricultural index, has adj
anced production from the extremely low point at the open
of the year to we'll above 80 cent of capacity Tor the
shoe industry Individual units have attained even higher
of output and for some months have been turning out
|Sslroducts at or above 100 per cent of normal.
|SrJ UNEMPLOYMENT Has Disappeared.
a Unemployment was pressing problem when 1922 open
H. States municipalities and social and charitable organ
atons were asked cooperate with the federal govern
en in meeting it. Today unemployment practically has dis
Speared There is job for every who wants one and
of employers beg him to take it. So great has been
demand for labor both skilled and unskled that indus
nes are rang each other for and OF enter
Uses are hampered in their by inability to obtain
| 1Ine workers they need
IS Wage advances were an inevitable these
hditions United States Steel Company set the pace
the industrial world by advance averaging ten per
INT This example was followed in hundreds of other IN
Taes In building trades skilled artisans have been able
t - mama +beir own forms Payros jumped forward in