The herald., 1898-01-01
oFFIcH OF THE HERALD,
Los Angeles. Dec. 81, 1887.

l1 Vt IN y &E 4 III - 4<1Ae<1%@@'s
Los Angeles. Dec. 81, 1897.
The American silk manufacturing In
dustry has apparently shared to the full
the Improved trade conditions which man.
Tested themselves during 1897, and con-
templates with confidence the outlook for
the year 1903 Measured by the value of
production, 1897 Is the greatest year in the
history of the home Industry since Its
Foundation, over fifty years ago. Had not
prices been SO low the total output Of the
domestic industry would have been far in
advance of any previous year, and as it was
the enlarged volume of business has been
suf1cient to exceed heaviest previous rec
ords The above facts and number OF
others Of interest alike in and out of the
American silk trade are set forth IN an
article in the current number Of the Amer
ican Snk Journal
1t is not only In the matter of large pro-
duction and consumption that the past
year will become memorable In the silk
trade. DO preceding year showed such an
ENLARGEMENT OF the industry as does 1897
In the matter of erecting and equipping Of
new factories, the embarking in the busi-
ness of new firms and corporations and in
the additions of new buildings and ma
chinery to existing plants. Perhaps the
most significant feature of the year, how
ever, was what is termed the EXODUS"
movement from the great silk manufac-
turing center of the country, Paterson, N.
]. The cause Of this movement is not far
to seek. The more or less, especially less,
reasonable demands of the labor organi-
cations of that city and the competition
between manufacturers which renders
cheaper fuel, labor, rentals and Tower tax
alton matters of great Importance, have
all combined to aid It The lack of protdc-
tion alike to person and property by the
local authorities Is another argument ad-
vanced by the Silk Journal for the NOV
ing. A significant feature in this connec-
ton Is furnished by the statistics of new
mills erected. Thirty-eiSht Of the fifty
seven new enterprises are located in Penn
sylvania and six in New York state, while
only three are located in the Silk City
itself.
The silk manufacturing trade ends the
year better than It began Uncertainty as
to the outcome of tariff legislation, the
hostile attitude Of labor and extremely
low prices for finished products at the
opening Of the year,a II combined to render
the first quarter one of depression. which
was not improved by the methods pursued
by some manufacturers in their efforts to
obtain a share Of the trade. The ad-
vance in raw material due to the promise
Of large consumption and Of shortage
In the Chinese and Italian crops in the
face OF low prices for the finished product,
was another feature toward making un-
conditions. Favoring the
trade in some respects was the apparent
absence Of forced sales and the strong
aold maintained by silks and ribbons on
the fashionable world. Starting with such |
doubtful prospects, progress was slow, but
he results achieved have been quite sat
sfactory. The tariff measures passed in the |
spring proved reasonably fair. and by |
means of organization the manufacturers |
and the throwsters were able to better |
control the labor market and production |
than for years.
The total imports of raw material for |
he year were 64,54S bales, valued at s2S.-
the heaviest In quantity, though |
lot in value, ever recorded. Compared
With the year 1929, when the aggregate
,utput came near to, but did not quite
EACH 100000 900. there is gain shown in
'aw imports of nearly 1000 bales, while
he value of these imports was nearly
8. 100000 less. AS above intimated, the
'uuook for 1898 is regarded as fairly bright.
large business is anticipated at satisfac-
ory prices, excellent orders for staple
dlks have already been placed and i'm
'ortant recorders are expected after the
holidays The limitations as to duty-free
Wearing apparel in the new tariff are ex-
'ected to aid the domestic industry, while
he importation Of patterns, designs and
deas from foreign countries to be worked
lp in domestic material are expected to
,reatly help this promising American in
ustry.
+ =
Report Of the German Savings and loan
Society Of San Francisco. showing IT'S
financial condition at the close of business
m Nov. SO, 1897:
RESOURCES
oank premises. S....................- S165 234 OS
Real estate taken for debt 256 A16 %