The New York herald., 1920-11-07

SLIGHT INDUSTRIAL
SLUMP FELT HERE
Manufacturing Drops a Little
Since War Level, Says
Trade Body.
WHOLESALE PRICES FALL
Earnings Also Show Deprecia-
ton From High Mark of
Last March.
WHOLESALE PRICES FALL

of New York has receded somewhat from
the wars high water mark there is no
sign of general slump in manufac-
.uring the Merchants Association re-
ports Employment and average earn
ings show only slight decline since
last March, when the highest point was
reached.
The figures also indicate that though
wholesale prices have fallen appreciably
they are still nearly double the average
OF 1913. They will have to drop more
than so per cent. before they approx
mate pre-war levels.
The industrial bureau of the Mer-
chants Association has analysed reports
OF the leading agencies studying indus
trial and business conditions and supple
mented this analysis with its own inves-
tigation.
Reports from $50 of the city's fac
tories normally employing more than
100000 workers, show that the number
now employed is as great as the average
for the calendar year 1919 and is only
slightly below the average for 1917,
1918 and 1919 During the years 1917
1919 these factories employed an
average of 274 workers each. Last
month the average was 267. the de-
crease being only seven workers per
plant The total number employed in
July, August. September and October
has remained virtually constant. the
decrease being only slightly more than
one man per plant
The average weekly earnings in Sep
tember were considerably above the
average Of a year ago. The Merchants
Association says: although this factor
has been affected somewhat by changes
In wage scales. the amount of earnings
OF factory workers is significant indi-
cation of the activity of Industrial estap-
lishments.
General industrial activity has as
vet not been affected perceptibly by In
creased buying as result OF price re-
ductions Greater activity on this ac-
count however. is expected. Although
price reductions have been somewhat
general, they have not. with some e@cep'
tIons. been radical
FOOD prices. although lowered since
last .July. were nevertheless per cent.
higher in September than they were
vear ago and more than double the pre-
war average.
The report also says.
"Of ten principal Vines Of industry
during the last twelve months the cioth-
ing group showed the greatest percentage
6aCTeaSe
The Department of Labor follows ehe
eo4 embellishments in this class. In Sep
tenber 1919, these concerns employed
17452 people BY March, 1920, the num-
Der had increased 70 5l,26s. This was
lump of per cent over the SepterhpsI
base. After that month the NUMBER Oh
workers declined steadily, being on'y
39.76s in August. tbs was u u 'ot on e'se s's.'
from the March maximum of over 70 per
cent. Since August however, the num-
her of persons engaged In the industry
has ircreased The figure for Sep.em-
bcr showed 1913 employed. Preiim-
tnary reports for October indicate an in
crease Of IA per cent over this Septem-
Der figure
Furs and Rubber Decline.
.-r,e other group OF industries which
was hardest hit by the recent readJust-
rnent period was the one comprising
f,,rs. leather and rubber goods. In Sep
teroher 1919 seven -y-fve such concerns
IN New York city employed 1878. This
number increased 20 1715S by Febru-
arv. 1920. or rise OF pcr cent AFTER
this month the working force con nstanty
decli 4. reaching . low level in Sep
tenbcr 1890 when only 1898 were on
the payroll This means a drop OF "a
ner cent. from the f brrary high point
I,reliminery reports for October. how
over show that the tide has probably
turned as data from fiity-c'Eht plants
revealed an Increase In peraolnel OF ~
,.r cert. over September figures.
'.-rhe most significant fact about botn
,bsse ,,ro,tps is that the downward tom
dcnty I'm employment seems 10 have been
checked during the last month OF so.
''1.he greatest increase IN no number
Of ernployees shown during the last year
by any of the ter groups was a stone.
.iay ana glass -rodUcts. Sep-ernoer
year AGO 2,525 were employed bY
rwenty-six such establishments IN IN"
city Last September the number was
a11s ar an increase of over 90 GER cent.
ocfobar rerorts. However, from twenty
80 ~ these concerns Indicate decline
a. ,he average number Of men OF l.b
yer cent. ,,..-
'.The most important conclusion
rcached through these emrloyuent sta
tistics Il that on the averase here mas
boon no decrease IN the total number 81
o,nnlovees in manufactures establish
,,,o,,ta in New York city during the last
revv months. II anyth!rT the number
employed In October was slightly srea1er
than in August.
at IS interesting 10 compare the aver
age weekly earnings In Se'to nber. ivy.
,yith the averages for Se1iernhr' ls!a
ord 1919. resi- rectvely. Practically wlrh-
o,t exception earnings have more tnan
Souhled within the last six years. On
81 average they were more than ~ y
\vycelx higher I'm September. l9zV' han
.,..oi,o months prcviOualy.