The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1910-04-17
Pennsylvania Leads OFF by a
Voluntary Increase in Wages
of Employees.
OTHERS ARE ADOPTING
THE PATTERN CUT OUT
United States Steel Corporation
Is Planning Increase for Its
Big Army.
BY PRESTON g. ADAMS.
Hv Ieosed Wire to The Tribune

NEW YORK, April 1s.-In two. a,
least, of the greatest industries In the
United States IT would appear that wages
are at last 20 respond to the increased
cost OF living. The Pennsylvania rail
road set the fashion in that line by q
voluntary increase in the wages Of its
employees of per cent, The other roads
are following. some Of them. II may be
said IN passing. with more or less reluc-
lance. and only after strikes had been
threatened. Then the United States
Steel corporation. perhaps the greatest
single employer Of labor In the country.
raise in tho pay Of It's army Of 22O 900
employees. Doubtless other great en-
ploycrs OF labor will follow suit. and the
men who work with their hands Will get
some part OF the general prosperity.
Cotton Mill Employees.
The cotton mill employees will not
share in this upward movement. This
is due, however. 10 the scarcity Of cot
ton and The high price OF the raw ma
,erial With which they work 1t is es
the country fully 20 per cent of the ma
chinery is Idle, and the cotton cloth mills
are curtailing regularly II per cent week
~ In Fall River and a much larger per-
centagc In southern mill centers, where
the coarser goods are made. The knit
underwear mills have been curtallng for
some weeks. while the miscellaneous
users OF cotton, such as the upholstery
mills, web manufacturers and others
have been curtailing irregularly for the
past FOUR months.
High Price OF Cotton.
This situation has been brought about
by the inability OF merchants TO secure
prices for finished goods commensurate
with the sustained high value OF raw
cotton, Last season cotton sold In the
Deighborhood OF cents per pound, while
roughly speaking this seasons crop has
brought from II cents to 10 cents per
FOR the past few years has not run much
above IL cents, consumers of cotton
goods have not been willing TO meet the
added values forced by the cost OF pro-
duction. The American cotton manufac-
turer hesitates long before disorganizing
his working force, because. unlike his
English competitor. curtailment In this
country results in distribution OF op-
eratives over wide territory and
quick disorganl5ation of a working force
results
Gold Exports Certain.
That very considerable gold exports are
certain IN The near future is generally
admitted. Already the outward move
sou,c tine to come. This is due to the the
steadily decreasing margin between our
exports aud imports the great amount OF
money taken abroad by American tour
land. which has diverted much money
which otherwise would have gone into
American securities. Vice President
John Il. Gardin of tho National City
bank is generally accepted as an expert
on matters Of foreign exchange. He
says: Up TO the close Of 1909 We had
exported $50 600. 900 In gold. So far in
the year 1910 we have exported 50 900 900
We would have been on the gold export
basis TO quite considerable extent since
then had II not been for the fact that.
owing to the plethora of money abroad.
as well as here various corporations
deemed the time opportune TO issue new
securities; and these all being more OF
less of . high grade character, giving a
iair return Of Interest, European capital
was attracted thereby and acquired an
important amount. estimated variously
at from $50 100000 to $3.50 100000
Money Enhanced in Value.
The budget difficulties in England.
however, are having their effect by en-
hancing the value OF money abroad Con-
scquently the taking over OF securities on
the part OF Europe may possibly he
brought 10 halt and the result will be
that we may expect gold exports between
now and the end of the fiscal year. How
ever, signs are not laclsng that perhaps
this may be counteracted by the export
Of merchandise, notably cotton, The
price OF cotton of course. now is rather
high. as well other eXportable COM
modities and this has so far been n de-
tcrrent toward normal consumption on
the part OF Europe. but with the new
crop coming in, no doubt market Will
he made for the stocks now on hand
which are reported to run Into quite Inn
portant figures.
Output of Mines
Tho output OF gold by the mines Of the
world for the calendar year 1909 is esti-
mated TO have been approximately S4Go,-
600 600, or an increase OF about SIG 600
600 over that of the product for 1908.
Africa leads in the worlds production of
gold for 1909 by an output Of about $40
Ooo 900. an increase over that for the cal
cndar year OF 1908 Of $d1S0.o0O The
United states occupies the second place
with product OF 500 .930. 900 an In
crease over that OF 1908 OF $3.50 900. Re
pcntcd efforts have been made from time
To lime TO show the disposition OF the
worlds product Of gold. but il Is very
hard 10 arrive at any accurate figures
II Is estimated that Of each years prod
uct Of gold from A 10 90 per cont is con-
vcrted into currency. while the balance
is used In the arts and exports to the
east. There is no doubt that Increased
crease the price Of commodities more or
less. This Is shown by n comparison OF
The prices prevailing NJ the periods when
the production was dlminishing. The de-
mand for gold by the different countries
Of the world appears To be Unsuitable and
1; IS absorbed as rapidly as It is pro-
duccd.'
New Interpretations.
New companies incorporated In the
eastern states in March with an ndivd-
uni authorized capitalization OF 81 .000. =
400 and over. as we'll as Increases in cap
ital. involved 1871 500, 600. the heaviest
monthly total in years. In February the
figures were $3.50. i6S 900 and In March a
year ago $50 200. 600 Charters taken out
By other companies with an Individual
capital OF 100000 and over. including
other states than those OF the east
brought the grand total up 10 S4T3 7lG ,04O
against s22s i02. 500 IN February and $l0i,
99S. 900 In February, 1909.
India Cotton Imported.
About 1000 TO 5000 bales OF Indian cot
ton have been brought Into this country
and distributed In small trial lots TO va
lious southern mills Although Il has
proved satisfactory. In tho opinion OF one
OF the leading cotton men OF this city, the
fact mas no special Significance and Is not
likely TO occur again. The same author