Show AUTO iNDUSTRY SEEMS BOOMING I Forced Mergers Expected Truck Competition Still Undecided ny By RS I Special ial Col 01 OR r rl l t of The Tho Stand aid i 1923 By flY The Standard Standard- Standard Examiner Examiner NEW NL YORK Jin isa The 13 13 The The turn of othe the vear ear car to which the financial fore fOrO- forecasters casters looked forward ard has come and andI angone I gone and today th long IonS range out out-I out out- outlook outlook look Is no nn mOle mor r cle than It was al I I week eek ab agh The markets continue to absorb trading Interest The Invest Invest- Investment meat ment markets are dull and unchanged l lIssul New v Issues Issue offered at attractive prices are nr easily sold Bold but hut the old old ones drag draK Liberty bonds fluctuate over oser a ivery 1 small rince For a lay day or two t after atter the French carried Into effect their long lone st threat to use force torce upon a Gel lator hesitated and trine nc and French bonds weakened but the effect w was ns as short us 11 lived ed tSenling ex- ex exchange change chanse continued phenomenally strong strone- and the American market markets take their cue from L London nISI G G Those who ho profess to give ad adICO ICO to tostock I stock speculators say that prices are aro going up They Thy put their faith In chants and theories of ot the business ecle So far there has hits been noth- noth nothing noth-Ine noth InS ing to show that these gentlemen are wrong rong I Probably the most mot notable devel desel- de development el- el of the week eel 1 was as the calm cams 1 wIth Ith which l the s news of the French inca Inva Invasion I sion Ion was received ed The 1 whole hole financial world orld seems to have base adopted a 0 watch watch- watchful watchful ful waiting policy The question to he bo answered Is to what extent can the benefit financially from thelt 1 ah Praise or blame go 5 Ith the tho result It may be bo that all out OUI I markets are under the Influence of some actor more moro fundamental than even tho the European situation If It so o the will 11 doubtless be found In the course of ot money mone rates but so tar far no distinct trend has hag appeared AUTO ALTO IR TR nn GIn STRONG r-n r I If It v e e turn for tor guidance to the econ econ- cron- cron economists we e find them predicting hat they call Inflation In guarded n I guage and with Ith many questions they forecast advancing commodity comm prices and credit expansion Such condi condl conditions accompany what hat appears to be great business pro prosperity This much Is certain Both manufacturers and merchants look tor forward ard to the ear without misgivIngs The automobile people pc-ople are ar particularly optimistic Plans are being made tor for expansion oh In I the largest output In the his his- tOI toty Y of ot the Ind Industry It Is Interesting I to note that 83 3 per r cent of the 19 motel cat cal production was divided I among six sUo corporations Probably the th tendency will bo ho more and more moro to- to toward ward ard consolidation as competition be- be becomes becomes be becomes I comes mOl mote moie e sharp The rhe automobile equipment and part manufacturers ex cx- cx peel ex-peel peel to share tharo the th g gOod od times antici by the tile makers of cats cais he I lubber tubber and tire tiro companies companie look for lor- forward for i ward ard to better things The irregular 1 sear ear has hns not been so prosperous but bul then they think that the turn has hasI come If It higher prices for Cor crude rub rub- rubber rubber rub rubber I ber will hold any of their hopes hopIs al ale alewell e 1 well ell founded The Thc competition in the thI I tire tiro Indu industry tr however howe CT Is even more moreS S Sere ere than In the making and selling I ot of cats calS I I II COll COPPER rR ISSUE n COMING and II lion on and steel stoel prices are arc to Copper I securities I ties especially arc are speculative e favor tavor Ills favor itis Incidentally Incidental the cx- cx ex expected peeled to accompany the Anaconda acquisition of ot a controlling Interest In Chile Copper w will III Ill be bo a ses se severe seere ere test of the ability of ot the Investment e mar mar- market market market ket to absorb new securities the th to- to to total tat tal of which Mch In this thia ease case e alone Is estl- estl esti estimated mated as ns high as I estl-I Rall a Railway car ear loadings of oC o re freIght continue the heaviest In his 1 his history j tory for tor this time tune of year sear ear The Tite future ot of the rail railways 1 a s depends on the th treat treat- treatment treatment treatment I ment they receive fro mUte ors ors ora at nt Washington The Influence ot of politics must not be 0 looked by otI who ho sean scan the financial I Ii D 1 l tJ G CONFLICT CO Much Interest Is taken In the attl- attl attitude atti attitude tude of ot the till called so-called bloc I will vilI show sho shot how t toward ward the federal reserve S stem The Ideas Idea of ot some gome of lh the I ag-I ag agricultural senators as to banking pol- pol pol policies I Ides ar are arc at sharp harp variance with Ith those proposed by conservative conser e bankers I the first conflict will wIli come I over the que question pf of discount rat rates ran ran- s Members of ot the fat fai In congress belle e their constituents demand lower lo rates Banking opinion Is that I If any tendency toward to Inflation I should appear artes be raised It is isan Isan an ISIan old and ends on oni only I one ono a ISI Too roo much credit Is just as fatal tatal as none at all asI I i HUCK COMPETITION I J Even Jen en In periods of prosperity not alt all allI industries are equally just justas justas I as in periods of ot depression not hot all in- in In Industries suffer alike The Th progress s sot ot of InventIon In sometimes outweighs ee eed- eed eco economic considerations For example I i we e seem eem to be In a transition period I I ne III tar far as transportation Js is concerned It remains to be seen how far the motor truck is going Oine to be he a real com coin com competitor I of the railroad Apparently the truchas truck truc has had an enormous ad- ad anlage in the tho mitter of Meanwhile the Penns I hall ha announced the curtailment of o 10 lo local cal cat Ice at sarious arlous I I points throughout the middle w ss est be- be because because caus be-caus cause of the th competition of th the pas pas- enfer enger automobile On the th other hand tile the electric railways 15 assert that more I persons rode roda on the trolleys trolley In 1922 1 than In IOn 1821 It IL will not do to be too dogmatic about these subjects |