The Detroit times., 1916-02-02


net liabilities were practically tn,
same for the two months"
III Industrial activity continues a
the present pace, q labor shortage
may be encountered in his country
before many months have elapsed,
says the Dime Savings bank. This
, IS because. iirst. the demand FOL
common labor already exceeds sup
the railroads will be calling 70,
many thousand laborers TO under
take construction work, and, second
because OF thu falling on in immi
grafton which cut down the net gain
in population from that source 70
0.000 fol the last fiscal year, as
compared with q net gain OF 765.o0o
the year before. Various industries,
working under pressure, are finding
il necessary to bid premium wages
40 as 10 insure maximum production
during the coming six months. The
country's purchasing power was
never greater.
1.-TWO OF tho greatest steel pro-
ducers-the United States Steel cor
poration and the Bethlehem Steel
company-lately announced a
10 per cent increase for their men,
Similar action has been taken by
various plants, so that the average
wage for the industry today is doubt
less the highes' ever known. Manu-
facturers in various lines are facing
rising costs in raw material and
la Dor. while industries that are de
pendent upon foreign dye-stufts are
having great difficulty in obtaining
needed supplies In any quarter.
These conditions in normal times
would he very troublesome but with
prevailing prices as high as they
now are. business Is being handled
at a prcit. IL is easy TO raise wages
but very difiieult TO lower them after
the. have been once advanced.
Bonuses" and wage increases are
becoming so general that il will be
interesting TO see what will happen
after foreign buying subsidies and
The world gets back 10 peace basis
again.
The counrry's productive machin
cry IL East reaching maximum. Pig
iron production in December was
douoIe that of he year before. Bank
cIearings in that month were 90 per
cent greater than the previous De.
cember total, while the years ex-
changes for 1918 exceeded by more
than sl7 zoo. 900 900 the previous rec
ord total OF 1913. The showing for
the first week OF this year was also
unprecedented. January dividend
payments were IL per cent greater
than a wear ago. Twenty-Five cent
copper is giving new life TO that in-
custry and making il possible TO
operate mines which under normal
conditions would not be profitable
producers. New plants now under
construction will add 10 per cent to
ing. capacity, and average prices for
all steel products are at record level
There 10 no weakening to the tone
OF the iron trade, and owing to the
increasing home demard, uanufac-
turers are finding IL necessary to
turn down profitable foreign busi-
ness every day.
Peace seems a long way OFF, but
every one is talking about IL. A
canvass recently made OF 80 leaders
in American trade and finance show
ed wide divergence OF opinion az to
what would happen In the United
States when the war ends. ii
predicted temporary unsettlemer
with sustained recovery later. 9th.
srs expressed the view that orders
for munitions OF peace" would sur
pass the total of war buying, and
that a declaration of peace might
be followed by expansion in many
lines. The situation IL without par
ailel. and for that reason no one
can speak with assurance. II the
United States is not drawn into the
conflict IL will represent an econom-
ic strength sufficient TO command =
large share OF The worlds trade and
10 retain n. The great manufactur-
ing centers are making every prep
aration for the day Of lcssened in
come, when the European ST.
will cease and war orders will stop.
War is still. OF course. the greatest
cloud on the horizon"