Evening star., 1923-03-03
MILLIONS Of GAINS
IN PRICE ADVANCES
Astonishing Rise in Values of
Commodities Not Yet End
ed, Expert Asserts.
By j. C.. ROlLE:.
Special Dispa,ch n Tho s.or

By J. &. ROlLE.
Special Dispatch to The Star
NE" YORK, March 3-StorLs OF
dozen important and necessary com
modities in the United States are
worth millions Of dollars more to-day
than they were a week ago. Prices
have surged forward in astonishing
Fashion in that time. Cotton. steel
SIX, sugar, rubber. lumber. copper
zinc. lead. tin and other products
have advanced to higher levels.
Whether these prices are justified OF
whether they are to be permitted
or not there is every evidence that
the general tide of prices is rising.
Optimists are already raising their
telescopes toward still higher figures
Tor the not distant future. But fore
sighted f1nancterS, manufacturers and
merchants are on guard against un-
due speculation or imitation and are
prepared to take steps to prevent
prices from getting out of hand. with
consequent slump. such as followed
the peak period of 1870
Predict 4O-1ent Cotton.
Raw cotton At COT, cents pound
has brought an advance in the prices
! OF cotton cloths. 1t is estimated thai
3J.0te.000 spIndlcS are active today in
thlS country. and. with a possible
shortage OF old crop months in sight.
even conservatives in the south are
predicting Accent cotton before the
new crop is made, with a correspond
ing increase in cotton goods.
Ihey declare that it will be battle
netWeen increased acreage with
planting stimulated by present high
prices and combination of labor
shortage and boil wcevil damage. the
price being dependent on which is
victorious Possible strikes by textile
workers for higher wages also MAY
prove factor in the cloth situation.
especially in New England.
Steel Also Moves Up.
Steel companies are hard put to fill
their orders in spite of the higher
prices. Demand now is led aby the
oil industry. where advances in crude
| have spurred activity. Oil companies
are in the market for increasing ton
nages of plates for tanks. pipe and
other equipment. The tremendous
output of the automobile factories has
! been again speeded up, with an addi
| tional demand on the steel producers,
! while new building is accounting for
a growing amount of structural steel.
Every indication points to big
! automobile year. and oil and gasoline
producers have not overlooked that
| fact. Production and new drilling
| operations are being rushed and crudr
! is being turned into gas in prepars
! tion for spring demand as the price
1 moves up.
| Advances in Metals.
| Copper has touched u cents
| pourd. and already producers ar
| talking confidently of 20-cent copper
| Domestic huyin.. has been extremely
! feavy. 1t has heen stimulated by the
higher price levels rather than check
| ed. Copper aud brass manufacturers
| are working at top speed and exports
to Germany. England. France and
Italy have bee n heavy. Nevertheless.
part TO the sterilization Of world
| market control. In other words. out
put of chearly produced Chic co1per
! has been restricted. evening the mar
/ ket for the American product. mined
| and snclted at higher cost.
! Lead moved to the highest price IN
| more than two years. at S.25 cents
| pound: tin was jumped TO a. cents
! ard zinc and silver each showed i'm
| provement.
Rubber Fails 10 Halt.
| In spite of protests by manufactur-
ers rubber continued its upward
course to SEA pound. Not only has
| tire production increased. but rubher
heel production. ii is estimated, VIII
reach 800 900 900 pairs this year. Raw
! silk touched S9.25 a pound. the high
est mark since the h"onl Of 1920. but
! this price did not serve 30 halt manu-
ifacture Logs in the Pacific north
west have been raised 5 to s. thou
sand board fee; in response to inquiry
for building materials. Sugar has re
gained part of the loss in price suS-
tained after the first meteoric ad
vance Wool is steady, But with
growers holding firmly for higher
prices. Woolen goods manufacturers
are heavily oversold.
Unemployment Disappears.
! Industrial plants are operating
high above normal. Unemployment
has practically disappeared and in its
place is a shortage of labor. skilled
land unskilled. This demand for work
ers has produced wage increases this
week both among the artisans and
among the less skilled workers of
mines and mills.