The Detroit times., 1914-09-25
BANK ANALYSIS
PROVES DETROIT
|, Is PROSPERINC
First and Old National Issues
Pamphlet Proving Industries
Are in Fine Shape
SALES INCREASE DESPITE
DEPRESSION ELSEWHERE
automobile Factories Have
Large Surplus and Future
Appears Bright

Although Detroiters generally have
been confident OF the general pros
perity Of the city In the face OF re-
ported adverse conditions in other
portions OF this and other countries,
remained for the First and Old De-
roit National bank to prove that this
belief was not entirely without Toun-
|iation.
In q pamphlet compiled from con-
idential information obtained from a
majority Of Detroit's larger industries.
he bank shows that, although re-
1uction In production and sales has
occurred in some lines as result Of
he European wars, the losses have
peen slight and are more than over
balanced by advances in other lines
pf manufacture anu production.
From figures based on the tonnage
q ore through the Detroit river to
Sept l. the report estimated that the
furnaces OF the country are taking
put 81 per cent OF the amount OF ore
hey consumed In 1913.
This" says the report. would in
icate that the general business OF
he country had been below normal
his year.
However. a review of conditions in
Detroit indicates that since January.
914, we have not only been enjoying
reater prosperity than during the
anne period last year. but our busi-
less has been considerably greater
han that of the average of the coun-
ny at large, and while at present
here Is tendency toward retrench-
hent owing to the war, general OPP
tmism prevails. Detroit factories are
Employing the same amount of labor
% at this time last year, and the labor
situation generally Is reported as very
satisfactory. A canvass of variety
Z the large Industries of Detroit in
icates that the sales of our manufac-
nrers had during the first seven
honths OF this year increased approx
mately Is per cent over that OF the
anne period last year"
The pamphlet then summarizes
riefy the various industries Of De-
r0tt and their condition, as follows:
TN the manufacture OF overalls, De-
roft undoubtedly stands first In this
ountry This industry Is employing
me last year Their sales have de-
reased but slightly and prior TO Aug.
there was practically no change In
pc prices OF raw materials which they
sed. Since Aug 1 raw materials have
Increased about 3 per cent and the
Rles have been. reduced about 20 per
bnt. although they do little or. no ex-
ort business. This Industry will be
pmewhat affected by the cotton situa :
on and the Importation ~ dyestuns
s'rhe manufacture or stoves has Tor
a rasni yeh inSu etes one Stove Companies
ave been doing nearly normal bust
ess this year. They are anticipating
tile change in their business during
he next six months.
'"The manufacturers OF cigars and
bbacco report increased sales over
b13. They are generally very optimiss
e and do not anticipate that the war
I'll affect them much, Notwithstanding
he fact that Sumatra wrappers come
krRely from Holland.
The paint and yarnish manufactur.
n have approximately 10 per cent
bwer employees than last year. Their
HES to Aug. i, 1914, were about z
br cent less than for the same period
lst year, which they report was below
Drmal The prices OF raw materials
nported are advancing very consider-
.The manufacturers of auto parts.
hitch Is very substantial industry
Detroit, report larger sales and
raafer number of employees and gen.
Fally. much better business Tor 1914
IAN FOR the same period OF 1913. Some
these companies report curtail-
lent in immediate shipment orders,
hich are however. said TO be more
pan Offset by increased ir noS Sn,pmenTb This
pweyer was felt mostly during the
liter half OF August and conditions
this respect have been rapidiy re-
Foring themselves since then. The re-
brts from the auto manufacturers
ouId Indicate that the schedule OF de-
veries for the next few months Is
bnsiderably higher than for the same
erfod last year.
Automobiles.
sConfidential reports to us from ten
the largest manufacturers OF auto
kobiles in aud about Detroit indicate
hat the 1914 season or.this Industry
a. been a very satisfactory one. The
lumber of employees Aug. 81, 1914, as
een reduced about 5eS The amount
sales for the first seven months or
his year as compared with the saIne
sriod last yea, has a,. inrreasea I ana
he situation in this respect Is regards
4 as exceedingly satisfactory. There
q decided Improvement in orders for
hose OF the same date last year This
also true as TO actual shipments Tor
he month OF August as compared with
,rpinses which most OF the automo-
ne manufacturers have been accumu-
Sting during the past few years. places
hem in a strong position inanciallys
nd relieves the banks generally. from
he necessity OF financing this business
any considerable extent.
THE wholesale and retail merchants
kport business as favorable compared
Fith that of year ago. The manu-
kcturing chemists are employing about
he same amount OF labor as year
20 and they are not anticipating any
Iaterial change In their business for
he next six months. although the price
some raw materials which they use
he been materially affected by the
European situation.