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...times this figure, and its leading product had become gasoline consumed primarily by motor vehicles. A. C. Bedford, Chairman of the Board of the Standard Oil Co. of New Jersey, made the principal address at Titusville. He emphasized the difficulty at present of purchasing and storing the abnormal petroleum output; he nevertheless expressed confidence in the future of the industry. Mr. Bedford stated that during his 40 years' experience in the oil business he could not recall a single year which could be called normal, in the sense that production and consumption exactly balanced. "We are now," he concluded...
...Trocquer, Minister of Public Works, announced that France is now "better off than ever" with regard to coal. The damaged mines have been restored so as to give a monthly output of 3,500,000 tons, as against 2,700,000 for 1922. Speeding up in the Saar basin gives 100,000 extra tons a month. Even marking off as a dead loss Germany's 300,000 tons a month due on the Reparations account, France has more coal than last year...
...natural that a mood of expectancy rather than a realization of accomplishment should pervade the summer financial markets, and the present July is no exception. Trade is experiencing its usual seasonal slackening. The extractive industries, especially steel, are at last showing a decided slowing down; even the excessive oil output is beginning to lessen. In general, five separate parts of the business outlook are now looked to as likely to develop tangible and important results: 1) the anticipated crash of German finances, with its attendant reparation problem; 2) the sagging price of American wheat; 3) the deadlock in the building...
...been due to many causes, chief among which are: greater production in Canada and elsewhere, underconsumption in Europe owing to the high price of wheat under the present exchange rates, greater effort by Europe to feed herself, and the endeavor by the American farmer to sell an output called for during abnormal war times...
...sudden increase in motor sales this spring largely caused the increase in tire prices. The ensuing price reduction is in part seasonal, since the heaviest tire sales always occur in the spring and demand slackens by July. But it also indicates that, despite the enormous output of motor vehicles this year, the tire makers have more than kept up with them...