Newport daily independent., 1902-10-29
'''''' ''''' '''''lH1A[II|
Industrial Crisis Probably < 4
 Readjustment Sets In Am ness Improves.

Chicago, Jan. 16. Amerie-- han indus ny, with the smelling salts d f under it nose, is starting to come as8out of it Signs are growing that 1t fss makinp ready to get on its pins az Tain. It's 8 Slow process, but that significant
 1nlng is that during the f1 rst haIf of
 J 1anuary the movement of if bdustrv bv
 and large on a countrywide scale an. pears to have been upward In sorne e regions theAast week in parti c,,la 1, < indicated that readjustment sn tually beginning.
 A survey of industrial cax4
 shows that the textile mills jbavo ',.,,,s istered the largest resums Ion so Thus the revival starts Where tba s aa Ipression began, for the textile indus try was among the first to be knocLea
 into a cooked hat when economy frst
 inundated the country last sprsno
 and the public, overburdened by ~,
 cessive prices, refused to stand tba
 gaff any longer and started it's "buv- ing strike."
 With consumers refusing to con
 sume and prices dropping, orders
 were cancelled down the line until the mills closed down. Tkey have been
 slowly starting up, here and there on part time for a month or so past. but last week sew pronounced re- vival
 New London, Ct, reported general reopening of it's factories, mostly on full time. Philadelphia reported it's textile mills were resuming, most of them at full time. At Fall River Mass, 5000 workers went back to the looms, and the resumption throughout New England was re- ported quite general. At Altoona Pa, the silk mills reopened at 50 her cent capacity: at Asheville, N. C cotton mills employing 5000 went to full time; at Lafayette, Ga, cotton mills reopened at full time; at Bidde- ford, Me, mills with 5000 workers went to four days operation week where they lad been running three. J Similar reports might be multi piled from nearly all textile com1nun- ities. With the resumption there were wage cuts of 15 to 25 per cent. In the New England mills the gener- al cut was 22 1-2 per cent, and the United Textile Workers have asked Congress to investigate, arguing that the manufacturers acted in concert and by prearrangement.
 What started the fabric factories going, however, was the fact that the garment trade came to the conclusion that prices of cloth at the mills had about reached stabilized price lev 'el. As pointed out two or three weeks ago, this led to the placing of spring orders and an abatement of the cancellation fever. Then tEe mills started up, and the caves of indus, trial gloom in the mill cities of the East got the sun. It all hammers home the idea that the faster the industries get prices down to a stabilized" level, the quicker will resumption ensue.
 In the automotive cities, factories are slowly starting up. Many of the reopenings at New Years indicated little or nothing, because many shops of various sorts closed down for week or two at Christmas time for inventory and repairs. But in the last week or so, several plants have reported real quickening of activi- ties.
 its slow but gradual-Detroit still reports some 100000 unemployed but the automobile business looks for Q large resumption within a fewI weeks, and by February or March manufacturers expect factories to be hitting a good speed They f4 a big replacement business.