The Birmingham age-herald., 1924-12-14
Iron And Steel

Iron And Steel | This condition Is well exemplified In the iron and steel mills. The improve ment during November over October was good-45 per cent. But it was not as great as the advance in October over | September-17 per cent. 1t is still far from the rate of production in Novem- Der and December of last year and particularly in April, May and June of last year. But what is significant is year at this time it was moving down. Since November the improvement has gone forward. Ingot production last month was 716 per cent of capacity. This week it is between 75 and 80 per cent of capacity. There Is also evil dence that buyers are preparing to re- stock and that deliveries during Jan- uary will be still larger.
 Textile Boosters ScOtched
 For many weeks I have been re- porting reopening of cotton mills and increasing working schedules. But l have also warned against the belief that cotton mill resumption was any thing like as complete and permanent as it seemd on the surface. Now comes the report that the Fall River mills have deliberately faked boosting mo- tices about their operations. This silly practice has been adopted in more quar- ters than textile mills. There is a large section that wants to create an illus ion of rushing prosperity in the hope that the public can be stampeded into crowding to the stores for purchases. This propaganda has emanated from manufacturers in lines that have had hard sledding for some time and are impatient of the slow recovery.
 Other MaNIfacturers
 Factory employment has undoubtedly Improved. Woolen mills are employing more. So are the silk mills. Some knit ing mills have reopened, though the ribbon makers are turning out less. Carpet and rug factories are running full time. Furniture, piano and equip ment manufacturers, clock makers, aluminium and brass mills have all in- creased Their working forces slightly.
 Auto Makers Clearing Decks
 Automobile output will be relatively light this month, smaller than in Mo- vember, which was in turn lower than October. But January will see activi- ties in automobile manufacturing plants resumed on a large scale. This will be accompanied by increased orders of parts for original equipment and of ma terials entering into the production of cars The first quarter of next year, from the present outlook, should close ly parallel the marks for the corres- poHuiHS pellou tuiS year IT IL QOeS not exceed them.
 Worrying About Oil
 Men in the oil business spend half their time worrying about low prices, because of flood production and the other half worrying about the approach ing depletion of our oil resources. The exhaustion of our oil is coming to be very serious problem and is engag- ing the attention of business men ev- anywhere. Undoubtedly prices have now hit the low mark, production has been declining for some time and we should see advancing prices and a drawing on stocks.
 Money
 I have dir0cted notice to the money market for some weeks and heralded the approach of increasing rates. Wall Street is about settled in its mind that higher money will come soon. Already the higher priced bond issues begin to 'eflant thiS haliaP