davidaulloa/AmericanStories huggingface dataset:
New-York tribune., 1920-11-07
inventories Now
Used TO Figure
Selling rices
Manufacturers Writing OF
Large Sums for Depre-
ciation in an Ehfort to
Reoch Stable Basis

Physical inventories OF manufactur-
,ng plants are new being used n many
cases as basis cn which 70 figure nev
selling prices ~ an effort TO meet the
public clamor for more moderately
priced commodities
Manufacturers IN various mes have
stated recently ,hat tley are nor wait
'ng for the usual annual oc semi-an-
LOal stock taking, bur .a.e cmployed
?cclal accountants IN Ike nov inven-
torres now in order % provide q s. tart
'lg point for the shaping o. now sales
roIlcies.
The chief result oc .nese inven-
tcries.' sad prominent shoe manu-
facturer who aas jus- sscl trough
the ordeal is to shov us that we are
oorer than we .hougi.t ee were and to
p owe u ineHr a.. we ars
cTerating At los ia ~ ovn ca
was hoping nat :ro irv. a.or, would
disclose some spots whore could
aiford to write of further depreciation
ara thus reduce the ur.ce o. INV nrol-
uct still further. H0revcf. 1.scov-
cred that | am going ho limit in price
reduction at present and am actualy
losing money py kcep.ne PES organ
zatlon working, but I would rather lose
money that way than ,c tafc q smaller
loss by closing the plant and Lsband-
lne my organ.zation'
According to an accorntant who has
been employed recently in making and
checking inventories in manufacturing
plants. there is 4 disposition among
manufacturers 70 figure down their ne.
assets as low as poss blc "Depreca-
tons are being written OF in large
cf.unks,' he SAID. "bccause If the de-
cline IN values. Cost price on raw ma
terials is not used as q bass Of calcu-
lation in any Of the plants rave visit
ed lately, but the actual nhvsicai worth
OF the material on hand is pat into the
asset column OF the ledger. Some a.
this is prompted by the desire 10 make
losses as heavv as DOS sib % for taxation
purposes. and some Of il By the hunger
for knowledge among manufacturers 20
know exacJlY where thoy stand in the
readjustment process"
Many manufacturers acure mat the
present is the most nronit' GUS time N
which TO take an inventory produc-
ton is at low ebb. and 'ac process Of
stock taking disturbs industry less
now than II would if the mills were IN
active operation
In addition TO taking inventories,
some manufacturers al-o are taking
advantage Of the present dellness TO
clean up their plants. make coatem-
plated improvements. overhaul ma
chnery ard read lust things in general.
Many Of the frills that ct NJ into man
ufacturing during the boom time. wnes
price was small consideration and
additional costs could be passed on TO
the distributing trades and the con-
sumner, are being eliminated.
New-York tribune., 1920-11-07
Slump in Knit Goods
Affects Philadelnhia

In the clothing and textile industries
IN Philadelphia and vicinity, mills are
running about three days a week, with
about 90 per cent. of their normal
forces. The knitting industry, which
is particularly large in this district
has suffered a severe setback and the
tendency is toward greater curtailment
rather than resumption of activities
No demand for new labor in the cloth
ing and textile field is expected much
before spring unless the Christmas de-
mand for goods absorbs present sup
plies in stock.
In general, back orders are enabling
many Philadelphia manufacturers to
continue operations, but unless there
is revival in business many plants
will have to shut down when these or
dcrs are filled.
transportation is satisfactory for the
most part and raw materials and labor
more plentiful. Construction work in
the city is being held up, but there is
good demand for construction labor
in the outlying districts Work on the
state roads and public utility mainte-
nance is being carried on so as to be
concluded before cold weather sets in.
Retail sales are reported somewhat
%head OF last year, although warm
weather has delayed fall buying bv
consumers. Retailers are looking for
a fairly large volume Of busiress dur
ing the balance of the year and for the
first quarter of 1921.
Bank clearngs in Philadelphia for
October were S2.141, ,61O,O99, compared
to 1904 .679.769 in October, 1919 and
SIS, 80 ,S63 in October 1919
New-York tribune., 1920-11-07
More Price Reductions Made
BY Producers and Sellers
Nesr Fabric Urged
TO Saue Silk Trade

The immediate future Of the
silk business, in the opinion of J.
A. Nigel, prominent manufact-
urer, depends upon whatever
power the producers of silk goods
can display in creating new
fabrics.
'If ever there was time in
the history of the industry he
writes to fellow manufacturers,
when each single mill should
bring out a new note in silks,
that moment is here.
Just so long as the garment
manufacturers, retailers and
women are given silk cloths that
they can compare with what las
been made or has been offered in
the last five years, just so long
will we be compelled to sell at
prices close to or below the cost
of production.
"On the other hand, if we can
show silk fabrics that are attrac-
tive and new that cannot be COM
pared with what has been re-
tailed in recent years. | feel sure
women can be induced to buy"
New-York tribune., 1920-11-07
Pittsburgh Encouraged
By Accumulated Orders

Pittsburgh has been particularly
fortunate during the present recess
sion Of business as a result Of the
great accumulation of orders, and al
though as yet there has been no gem
cral ayoff Of labor such as has been
experienced in many Of the important
industrial cities, this is due not to
current business, but to the accumu-
lated orders in a great many instances.
There is still some shortage of labor.
which is readily traceablc to lack
of adequate housing facilities, which
probably represents at this time one
of the greatest problems of the dis
trict. So far there has been no reduc-
tion in wages. There is little unem-
ployment and most of the unemployed
are of the type known as Aoaters.
Generally speaking, expansion pro-
grams have been curtaied, but a gem
eral feeling that business conditions
will greatly improve after the first of
the new year. Several important devel-
opments in the way of new industries
arc being discussed, but no definite ac-
tion has been taken.
Bank clearings in the district for
nine months ended November l amount
to $8,622 ,913,679. For the same period
u year ago they 'Ycre S6,915,473, iii.
General retail business is good with
mcchants buying from hand-to- mouth
and with tight grip on credits Many
Of them have cancelled future orders
placed earlier in the season on vari
New-York tribune., 1920-11-07
\. S. Cities in Midst of Deflation Hopeful of Futl

and 60 per cent Of normal, the woolen
industry about so per cent of normal
and the cotton goods industry from
so to 60 per cent of normal In Massa-
chusdtts alone figures on the consump-
ton Of cotton in mills within the state
show a decrease of ID per cent in Sep
tember. compared with August, and it
is expected that the October figures,
when compiled, will show further
decrease.
Boston bank clearing for the four
weeks tnding October 13, 1920 were
Si,162.00o, 900, or $l4,0OO,OO0 less than
in the corresponding period last year.
Clearings in the district outside Of
Boston, however, showed a slight in
crease compared to last year.
Throughout the New England section
many factories are running on curtailcd
schedules most Of them operating only
three or four days a week Specific
cuts of Is per cent in the wake scales
are reported from several cotton fac
tories
Seven Boston department stores re-
ported an increase in money value of
sales during September Of l6 per cent,
compared to the same month last year,
and of % per cent for the ne-month
period in 1920, compared to the same
perlod IN 1919. Stocks at the close of
September were 20.7 per cent heavier
than in 1919 and 9.5 per cent heavier
than in August
New-York tribune., 1920-11-07
Expansion Programs
Suspended in CHICAGO

The readuj jstment has resulted in
the suspension of certain cXpans ion
programs in Chicago in the same man
rer that it brought cancellation of or
ders. The feeling prevails that this
suspension represents in comparative
ly few instances, if any. the abandon
ment of plans as to cost and tinanc-
ing.
There has been no general revival
in building since war restrictions were
imposed. construction being confined,
with &c" exceptions, to enterprises that
could not be postponed
Demand for industrial space has tx-
cccded supply, but construction Of fac
tory space has been limited for the
reason that few industries desire to
accept future obligations based on fixed
charges of present construction costs.
To this has been added the difficulties
Of financing
Bank clearings show no falling off
ures for September arc $27,228, 1884
against s25.703.505 in the same month
last year and $13,0S4,717 in 1913
There has been no closing of plants
although Il sharp restriction in opera
tloNs and output in specialized lines
has been noted SO far there has been
little or no effect on the course of
wages. Anticipated demands for in
creases have not been pressed Labor
supply has shown tendency to in
crease, but there is no visible indica
ton Of unemployment
Retail trade has had its ups and
downs, but appears to lave been more
affected by the weather than by bust
ness conditions.
In some wholesale lines the feeling
of depression continues. but the out
look for the coming year appears bright
in nearly all branches of industry
New-York tribune., 1920-11-07

Tor about 100000 Of the industrial en-
ployees, and it is in this, probably. that
conditions are the best Defined None
of the plants has shut down entirely
IN nearly al there has been a wedding
out or desirable employees. The gen
cral plan is to ration" the work In
stead of Wholesale discharges of men
the time is reduced. Factories are
working four or five days instead of
siX. There has been no great or gen
eral reduction in wages. There is, how
ever, nearly an entire cessation Of
overtime or night work, and a dimuni-
tlon Of highpriccd picccwork
FULLY half the automobile companies
have made reductions in the prices of
their cars and they are in q mood of
watchful waiting for corresponding
reductions in the cost of material and
parts. Most of them have plenty Of
orders and do not expect further to
curtall output but are not inclined at
present to make longtime contracts
for supplies.
The remarks made about the auto
mobile companies would apply with
variations to most of the other lines
There are no complete shutdowns of
any consequence and there is quite a
general inclination to shorten time
rather than to greatly reduce forces
The decline in retail trade COM
menced early in the summer. Talk
about profiteering and the expectation
of lower prices curtailed buying. The
industrial depression has acccntuated
this movement. AS between September
and October this year and the cor
responding months of last year the
volume Of business of the department
stores shows an increase Of approx
matcly 10 per cent
Merchants have adopted a "hand- to-
mouth" policy. They are buying only
enough to supply trade demands. with
the exception Of furniture stores thew
are not overstocked. There has been
q decrease in the cost of erchandse.
particularly noticeable in mems ready
to-wcar clothes, furniture, furs and in
some department store lines, such as
silks, but no marked decline in WON
ems ready-towear garments Food
prices have declined, but by greatly
varying percentages. In fact, it is diff
ticult to fix ratios on prices in any
line. unsettled" is the best statement
OF price conditions.
Several of the BIG manufacturing
companies in Detroit laid plans in
1919 for plant enlargements sufficient
to cover the increase of business for
SOiie N'4 ~ SOl!lc- ne uliOlHE per
mits for factory construction contem-
plated cost aggregating $21,7l9,C 600
Some Of the work on these structures
Tapped over into this year. For the
first four months of this year the
total for similar work was ST.. 700, 900
This included S4.OOOO00 for one plant
for Morgan & Wright For the next
five months, Mav to September inclu-
sive, it was $4,000 000. In August it
was only $253,000 and in September
Sooooo. NO new plans are now under
construction. it is believed.
Bank clearings for September 1918.
were Sll0,000,000; for 1919. S4l6.7l1.-
t34 and for 1920, 1851 ,592,94l Total
bank deposits, according to September
Statements were: 1913. Sl97 .O93,447;
1919, $4S2 ,4S9, $3.50; 1920, $5O3 ,944 1856.
New-York tribune., 1920-11-07
Automobile Depression
Felt by Detroit Labor

The normal number of Industrial EN-
pIoyes IN Detroit is about 10000, and
officers Of the Employers Association
estimate that besides these there are
lwavs from 10000 to $1,000 unem-
ployed. The number of unemployed at
the present time is increased to about
10000. This is largely common labor
OF which LARGE amount is generally
employed in the facsories There are
comparatively few skilled or semi
skilled men who are willing to do a
full days work for full DAYS paw
who are not employed at least on part
time. In cases where it is necessary
to reduce the force, the slackers and
lncompetents are the first to 90. There
is larger production per man than
when their is an undersupply. A. no
table illustration Of this occurred at
the Ford Motor Company's plant. On
the last Thursday in Octo Der. with less
than the average number Of men it
turned out the LARGEST number of cars
III the history of the company.
The automobile industry accounts
New-York tribune., 1920-11-07


was never brighter. A big transpor-
tation factor working in favor of in
Gustrial DEVELOPMENT IN the district is
the advance in inland waterway com
merce, which is affording relief from
car shortage and higher rates.
Industrial operations have slackened
recently in some instances, chiefly
automotive lines, but this is consid-
cred temporary. Wages on the whole
are steady but downward tendency
is noticeable There is no unemploy-
ment as such, bat the situation is cas-
ing and beneficial redistribution ap-
parently is taking place.
Retail sales so far are running ahead
o. last year, but purchases for spring
have been delayed. Stocks are normal
or are being rapidly brought to normal
Bank clearings totaled $685., ,134,459
C4O in the same month q wear ago and
$377 ,008,711 in 1913.
New-York tribune., 1920-11-07
Cuts Made in Cloth and
Clothing by Manufacturers
and Mail Order Houses:
Lower Carpets Indicated

Instances Of definite price declines
Ill a number of specific commodities
multiplied toward the close of last
week. That bottom has not been reached
IN the general line of prices is appar-
ent from the new low levels announced
by leading sellers from time to time.
One of the most notable reductions
announced was that Of the Michaels-
Stern Company, Of Rochester, n Y,
large manufacturers Of mems clothing.
flat cut of 39 l-3 per cent in this
company's line Of fall clothing was
made, with the new price to apply on
all future and untitled orders in hand
at present. The concern is not a mem
Der of any Of the associations agreeing
to the price guarantee and so i not
bound TO rebate on orders already
filled
Montgomery Ward & Co., mail or
der house, made an additional cut Of
Is per cent in mems clothing and un-
dcrwear prices. An initial cut on this
class Of merchandise was made about
a month ago. At the same time . cut
of 2o per cent in shirt prices was
made.
A prominent WOODEN commission
a dozen producers announced further
reductions of from 37ls to 80 cents
yard on new cloth.
Signs of new low prices on carpets
are in the oftng. A leading producer
announces new price list to be issued
TIE middle Of the week, following the
opening of the Smith carpet auction,
which it is believed Will set lower
pllces on boor coverings than those an
nounccd by most of the carpet markers
at m" opening OF The selling season
on OctObpT
New-York tribune., 1920-11-07
New Orleans Plants
On Normal Operation

Expansion programs in New Orleans
have not been dropped, but are being
carried on to full extent. The crea-
ton of new industries is continuing.
Several large plants are either under
way or in almost certain prospect at
present. Practically all plants are IN
operation. Certainly none of any i'm
portarce is closed.
The so-caled depression has had no
effect as yet on wages. On the con-
trary, there have been recent increases
in some directions. There is no forced
unemployment.
The. condition OF retail stores seems
excellent. There is no depression, and
the volume of trade is better than it
was at this time last year. People are
buying more for values and utility, and
rhcte has been some decline in the
sale of real luxuries. The good condi-
ton of retail trade is attributed to the
fact of abundant employment and good
wages in all industries. Inventories
New-York tribune., 1920-11-07
Big Prize Offered
For Original Des; gas

An exhibition OF now and original
designs for textiles. the fifth Of a
series of annual exhibits and design
contests, Will be held by the Art AL
lance Of merica in Athe Bush Termi-
nal Sales Building, on West Forty.
second Street, daily, except Sunday
from November 20 to December l.
Prizes totaling $2,325 will be distrib
uted to exhibitors producing winning
designs, as follows:
First, $3.50, of which 5000 will be
awarded for dress silk designs. S15C
for decorative silks, $3.50 for cretoMne
500 for dress cotton and $50 for rib
bon designs. Second prizes of $325
as follows: Dress silks, 500; docora-
tive silks, S75; cretonne, SIS; dress
cotton, $50; ribbon, $25.
Twelve hundred dollars viii be
awarded for special prizes. as follows
Technical excellence, first prize, 500;
second prize, $50; honorable menelon
seventy prizes Of $40 each, S700; poster
prize, $3.50. In addition there Will be
special fund Of 5000 at the disposal
OF the jury.
The members Of the jury 10 award
the prizes are Stewart Culin, Brook
lyn Museum; W. Frank Purdy. presi-
dent TT Alliance of America; ". G.
Burt, Marshall Field & Co.; f irving
Hanson, Il. r. Mallnson; Edward l.
Mayer, costumer; Max Meyer, A
Beller G. Co.; Albert Blum. United
Piece Dye Works. f. W. Budd, Cheney
Bros; j. Walter MacLaren, johnson
Cowdin & Co.; Charles Gowing, Bur
ton Bros; Harry Maurus, b. Altman &
Co.; Harry ylaNd, Swain Free School
New-York tribune., 1920-11-07
Serious Trade Slump
Not Felt i'm St. I.ouis

Because of its varied industries and
diversified resources in the surround
ing territory st. Louis has escaped a
serious depression, according to re-
ports at hand. There has been no
abandonment of industrial expansion.
-Four comparatively large plants, for
example, represent total investment
Of S2S,000,o00 and embrace coking,
last furnace, automotive, drug and
loillnE mill lines. Development has
toen heavy in other industrial lines,
such as chemicals, drugs and food
products.
The construction Of new enterprises
las been held in allegiance for several
months, bat it IS believed that the out-
ok for central western DEVELOPMENT
New-York tribune., 1920-11-07

During the last year 1o7 new indus
trial plans have been opened in the
Borough Of Queens. Construction in
that borough worth millions of dollars
is under way and plans for new plants
are projected on large scale.
Bank ciearings in New York City do
not give particularly optimistic cast
to present business conditions. From
SS693, ,435 ,3275l in October. 1913, clear
ings rose to S23,7l3, 1852 ,799 .63 in Oc-
tober of last year For the month lust
passed they were $40 ,661 OS6. 588.74.
In New York City and Brooklyn de-
partment stores reporting to the Fed
eral Reserve agent here lost 316 per
cent in money value in sales during
September this year compared to last
year. For August and September sales
were 3.6l per cent ahead of last year
Stocks in the hands of retailers were
1898 per cent larger on September 80
this year than they were on the same
date last year and 5.65 per cent larger
than they were at the close of August.
1920
New-York tribune., 1920-11-07
Atlanta Retail Sales
Feel Sharp Restriction

Expansion programs IN this section
have not been entirely dropped BIZ,
there has been for the momen. ce..
sation of activities. The changed busi.
ness outllok has effectively stopped
the creation Of new industries. bn,
long continuance Of the conditions :
not anticipated.
Bank clearings in October 1913. we've
79,6O1,lO3, and IN the same mon,s
last year. s406,2l9.57s. In October
this year, they were S3lt.965 .93e.
Practically all the plants arc in one.
ration, but some arc not operating
full time. There has been no chanzs
to date in wages. There IS little m.
employment. Retail stores are suffer.
ing markedly. Profits are less. In.
ventories are less. Stores are buvinv
little, but on the whole the retail
business is fndingits level without IN.
due upheaVal
New-York tribune., 1920-11-07

port covering employment in 7SO fac
tories in New York City, compiled by
the New York Department of Labor,
employment increased about per cent
between September. 1919. and March
1870 when the peak was reached
Since then gradual decline without
interruption continued until August
when per cent less than the total at
work in September of last year were
reported. In September there was a
silght increase, but in October a de
cine OF about two-tcnths per cent
from the September figures
OF the ten groups those under the
heading Of clothing, millinery, laundry
etc, and furs, leather and rubber
goods show the greatest amount of
unemployment at present The de-
crease in the number of workers in
the first group from the March maxi
mum has reached 20 per cent, with a
slight increase reported from the low
point of August. In the second rroun
the low level was reached in Septem-
Der at "a per cent below the March
hgures. The October figures show an
increase of A per cent compared to
September.
The figures compiled by the New
York Department Of Labor are not
wholly accurate. according to officials
of the clothing trades unions. II is
estimated chat unemployment in the
plants in greater New York runs
as nigh as 70 per cent in mems cloth
ing and about so per cent in factories
producing women's garments The
clothing industry is considered the
largest specialized trade in New York
City IN point of actual production.
Statistics are unavailable concern
ing the number of business enterprises.
such as small textile jobbng concerns
and clothing manufacturing plants, that
have dropped out of existence in the
past four months. Close to 100 silk
Jobbers have ceased operations and an
equal number of women's garments man
ufacturers have closed their plants for
good. The influx of small iobbcrs and
manufacturers in the textile and ap-
parel trades was large during the boom
period.
According to bankers here there has
been little expansion of local textile
and apparel plants during the past few
months, and at least three expansion
projects contemplated by large textile
manufacturers near the city have been
dropped.
Weekly earnings in all but the cloth
ing, fur, leather and rubber industries
are higher than they were a year ago.
in those industries thev show an aver
age decline Of dollar or less per week.
Reports received rom employment
agencies placing 20 COO or more stem
cgraphcrs and tynists 4 ear indicate
Index No.
New-York tribune., 1920-11-07
Normal REIMBURSEMENT
Being Effected Here

indu rial readiustmenOs in New
York City are proceeding normally.
without radical slumn or depression,
according 10 N industrial survey lust
completed by the Merchants Associa-
tior.
The course Of employment in fac
tories, which the association believes
:, TIE best index to business activity,
shows tnat appioNimately as many
persons are employed in the greater
city at present AS were reported for
The average of the calendar year of
1919. and is only slightly below the
average for the three years of 1917,
1918 and 1919.
In ten groups contained in the re-