Evening star. [volume] (Washington, D.C.) 1854-1972, 1923-01-15
INVASION OF RUHR
IS VIEWED CALMLY
Business Leaders Declare
Conditions in U. S. viii
Offset Crisis Abroad.
BY J. C. RoYLE.
Special Dispatch to The Star.

Special Dispatch to The Star.
NEW YORK, January 15.-Businesa
men in widely different sections Of
the country and IN different lines Of.
basic industry were inclined toda-s
to belittle the effect Of the preser.
European situation on American bus:
ness. Southern fnanciers and cotto1&
men viewed complacently the events
cupation of the Ruhr
Temporary Generalization may be
expected from the French action
said j. J. Williamson of Williamson,
1nman d Stribling, large cotton ex-
porters THE military gesture VIII
3ring either war or more stable con-.
oitlons in central Europe. The cot.
ton market and general business In
America cannot be adversely ar.
fected in either event. The technical
position OF cotton is too strong to-
be influenced very greatly by senti-
ment: The almost prohibitive price
OF calcium arsenate and the desertioIEt
or fields in the boil weeviI sections
are very bullish factors. and the 1923
crop outlook is none too bright"
Sees Hope of Adjustment.
Alba B. Johnson, president of tho
| Philadelphia Chamber of Commerce,
| and of the Railway Business Asso-
citation, said: Il cannot believe the
turn of affairs in Europe will be
unfayorable to the business inter
| ests of the United States. Just whau
the effect of recent Developments
will be is difficult to tell, but l bed
lfeye Frances act is only gestur.ss'
and there Is hope that business will
! adjust itself to the new temporary
| conditions"
Lumber manufacturers In many
| sections agreed that tho European
! situation would have comparative
" little effect on that industry.
| Frances invasion Of Germany VIII
have little or no effect on the lun.- !
! Der industry Of Washington and Ore
| gon," said Robert 3. Allen. secretary
and manager of the West Coast Lun1-
| bermen's Association. which manu-
| featured more than S.700,000.000 feeG
! of luhber in 1922, unless there is u
| fall in the purchasing power Of tho
| pound sterling. Our main markets
| are not on the continent Of Europe,
| but in the eastern sections Of tho
| United States. TIE central west, Cali
| fornia, South America, Australia and
| the orient. Production at this time
\ Is 81 per cent below normal, but
| that is a seasonal matter and We
| can see nothing now which will pre-
\ vent prosperous business in lumber
| manufacturing during 1928"
Steel Makers Optimistic.
The most prominent men of the Pitts
burgh, Youngstown and Chicago dis
trlctS indicated that the foreign Sltdd"
| ton was not interrupting business.
| Orders continue heavy and indications
point to good plant runs said an off,
Ger of one Of the largest steel Compare
| les in the country today. Other men
in the steel industry agreed that the in
! dustry having seen so many develop
ments in the European situation has
become less sensitive TO foreign news.
With orders being booked on q liberal
scale, manufacturers were inclined %
take an optimistic view of the situation.
1 At present steel markets are depending
| on this country to absorb their outputs
I and they are having no special diff
| Guilty in disposing of their production.
1t is estimated today that equipment
companies now have orders for at leaS
| $4,000 freight cars on their books
| which are to be built this year in addi-
| ton to the orders which il Is known
will be placed by the carriers during the
remainder of this year.
! The textile industry is watching anxi-
ously the development of the labor Sit
uation in Fall River, where operatives
| in the cotton mills are demanding %
per cent increase in wages. 1t j.; still
! to early to predict whether this situa-
\ ton will lead to a strike or not, but tex
( tile men do not regard the outlook ;,R
| encouraging. As a rule textile mills
| both in New England and the south re
very busy and well booked ahead.