San Antonio light. [volume] (San Antonio, Tex.) 1911-1993, 1923-01-05
|bUS|NESSN NOT
] DISTURBED BY
PREM|ERS' ROW
Laws of Supply and Demand
b Will Be Deciding
Factors.
BRITAIN WILL PAY
Sale of Steel Stock at 107
Is Hopeful
Sign.
B BRITAIN WILL PAY
BY j. C. RnYLE.

New York, Jan. 5.-American bus
ness resolutely thrust aside today TIE
depressing influences Of the European
situation.
The break in the relations Of France
and Engisnd over the reparations qucs-
tons undoubtedly had a marked effect
on some commodities but men closely
allied with the products most affected
express the belief that the laws Of sup
ply and demand will prove greater fac
tors in the situation than the plans Of
premiers.
They point out that hopeful influ-
ences are not lacking and producers OF
cotton, sugar, wool and other world
necessities assert that foreign nations
will find means TO buy American prod
ucts and that depression in sales and
prices will be but temporary.
Many find strong encouragement IN
the announcement that import duti IS
into this country in 1922 aggregated
S45s, 900 900 or S153, 100000 greater
than in 1921. This, they declare, IL
dictate a greatly increased puying power
on the part of the rest Of the world az
the sums paid by this country for for
tlen EOuus nave III turn Dc1Oht aFdil
able for purchases of American poo.
ucts.
England Will Pay.
Business men, and bankers here Cx-
press satisfaction over the statement Of
the British debt commission that 'Bri-
tain always had and always would pay
her debts" British business men who
have just arrived here, make plain the
British stand on German reparatious.
England is not self-contaIned, they
point out, and is dependent on for
eign trade for existence. At present
the terrible depression in British trade
continues with over 1850 900 totally
unemployed and large number worE-
ing only part time. Germany's recovery
is the key 10 European recovery and
the recovery of British markets, ac-
cording 20 the British financiers.
OF far more importance that the Eu-
ropean situation in the opinion of nan
ufacturecs and business men is the fact
that the bituminous mine workers ard
operators have failed to rea IN an agree
ment as TO wage scales and working
conditions to replace the arrangement
which expires April 1. Large cons IIa-
ers indicate that they will continue 10
accumulate surplus stocks Of fuel and
some additional orders were placed here
for English coal TO be delivered in the
next two months. Coal prices in some
districts are rising.
Sell Stock TO Employees.
The measure of improvement in the
steel industry is measured With cOnsItl-
cradle accuracy in the announcement
by the United States Steel Corporation
that 60,00C shares of common stock Will
be Offered TO employees under the par
payment and bonus plan OF the cont
pany at 107. The price OF this stock
offering each year is fixed by the aCCr.
: age price of the stock in the open mar
{ ket during the last three months Of the
( year. In 1922 the price was fixed at
SS4 d share and in 1921 at ISL.
The increase in the price of bunker
fuel oil at New York. Baltimore a.d
Norfolk went into effect today and add
ed stimulus TO the improvement which
the entire oil industry has shown siEct
the turn OF the year.
The So. called semi-soft collar which
has attained wide popularity through
out the country now is being sold fol
the first time at price which enable,
retailers to sell this product at % cent?
each.
The forecast for higher wages in til
garment trades made weeks ago in tni
column was fully borne out by thr
award Of the referee in the ClevelanC
garment workers arbitration proceed