The Birmingham age-herald., 1923-04-23
INDUSTRIAL ? A CE SLACKEN| N G 3 ] I CONDITIONS SOUND
Encouraging Features En- phasized By R. G. Dun &
 Co. After Survey Is Made

NEW YORK, April 22.-The pace i of industry and trade undeniably shows signs of slackening somewhat which is not surprising when the pace which it has kept through the into consideration.
 Dun's Weekly Review sums 1t up this way;
 Tt is not surprising that recent weeks have brought a slackening of the domestic expansion and a check to rising prices. Abatement of new buying has become more sharply defined and in certain basic indus tries, as in iron, steel and textiles, and some markets that had advanced appreciably had developed slightly reactionary tendencies"
 There are other measures of this besides the word of the above au- the principal ones and this barome- ter of trade is not pointing to fur thcr imm mediate expansion by it's present course.
 However, there is nothing alarm ing about the slackening. Instead
 
 means that business men are pro ceeding cautiously. that prices are not going to be allowed to gu up- ward by leaps and bounds, and that overproduction and imitation are not going to wreck prosperity before it is year old.
 Period of Stability.
 The National Bank of Commerce expresses the belief that the coun- try may be in for a period of sta bilfty=without either boom or hard times-such as prevailed from 1909 to 1913
 At this season of tho year also a slowing down of trade is the usual thing. so that accounts in part for a slackening of the pace.
 Prominent railroad executives are pretty generally agreed that the country is launching upon an era of welcome prosperity Traffic affords such officials an excellent opportu- nifty to analyze the trend.
 There is little question that pro- ductfon is being stimulated the coun- try over owing to enormous demand for goods, and opinion is that such activity will continue many months Some officials find that in many in- stances production is booked up for most of the year and the close of the year will hardly see the fulfill ment of commitments already under taken.
 The Wall Street Journal, in it's canvass of business leaders as to general industrial conditions, asKed A. H. Smith, president of the New York Central lines, for an expression of opinion. He says;
 Prosperous Goal.
 The section which we serve seems to be trying it's level best to be prosperous and productive.
 There are indications here and there of labor shortage, or. stat effective man hours.
 ''Efforts to achieve output are stimulated by demand for goods, but the supply is somewhat restricted, at least for early delivery. Demand and restriction are causing higher prices.
 Under the circumstances, there would seem to be fair expectation of Aarge volume of business done under some difficulties and at high CT costs than most of us would like.
 Ut is barely possible that broad consideration of these symptoms may become manifest throughout the country as we approach the issues of another campaign"
 The views of the head of the New York Central system are shared by many officials. It is agreed that the present demand for goods and the efforts of many industries to speed up production has resulted in competitive bidding for labor. This, many say, is bound to bring about higher prices. While many bankers are endeavoring to thwart any in flation of credit, it appears that most business men are more serious ly concerned over the labor outlook What is most to be guarded against is imitation of wages