Indiana daily times. [volume] (Indianapolis [Ind.]) 1914-1922, 1921-11-09
CHATTANOOGA
ENJOYING ERA
OF GOOD TIMES
Southern City Has
Many Business
Interests.
ALL DOING WELL
Textile Industries AS
sumo Lead Over
Others.
ALL DOING WELL
Special to Indiana Daily Times
and Philadelphia Public Ledger.
Nv RICHARD EPILLANE


BY RICHARD SPILLANE.
/ CHATTANOOGA, Nov. 9.--Among
the gentlemen who gathered at the
Mountain City Club to report to your
representative on conditions in Chat
tanooga, were C. w. Howard, indus
trial commissioner of the Chamber
Of Commerce; Charles Clark Of E. W.
Clark G Co., bankers of Philadelphia,
who control electric light, power and
traction properties here, in addition
to like enterprises on the Pacific
coast and in nearly all Of Michigan,
exclusive of Detroit.
Scott L. Probaser, president Chamber
Of Commerce; w. A. Sadd, president
Chattanooga Savings Bank; Senator
Newell Sanders, agricultural implements;
George F. Milton. editor Chattanooga
News; Fl. S. Thatcher, Thatcher Spin
ming Company; Thomas r. Preston,
Hanover National Bank: II. =. White
man, E. W. Clark 4 Co.; Frederick
Arm, j. NJ Card Lumber Company; +.
L. Miller, United Hoosiery Mills; CASTOR
Raoul, Tennessee Furniture Corporation;
p. J. Kruesi, Ferro Alleys Company;
Garnett Andrews, Richmond Hosiery
Company: c. c. Nottingham, president
First National Bank; George Smith,
United Hosiery Company; S. r. Read,
| Chatham National Bank and proprietor
Read Hotel.
There is little complaint in Chatta
noOga of business conditions. On the
contrary in a large majority OF the
greatly diversified lines Of industry in
the mountain city activity is pronounced.
/ INDUSTRIES OF
VARIOUS SORTS.
Textiles predominant. TknrA ore three
bleaching concerns, two clothing manu-
featuring establishments, seventeen
hosiery mills, four mattress plants, two
shirt factories, six underwear houses
various wolen manufacturers and three
| yarn mills. The Thatcher spinning
mill. which is one of the best equipped
In America, is owned largely by Phil
adelphians. The largest OIL well ma
chinery plant of the world is here There
are large lot Of proprietary medicine
houses whose stuff is sold the Nation
plants and five railroad shops. Various
wood working establishments, limestone
products concerns and other works too
many to catalog.
Mr.. Clark said while it was generally
true there had been a decline of about
80 per cent in the consumption of cleo
trlcaI power, owing to the industrial de-
cline, his property in Portland, Ore,
had held its own until the present time
+ In Michigan there was a drop of Is per
cent, but in Chattanooga there had been
consumption in September substan-
TALLY In excess Of Septeml err Of last year
The use of hydro electric power was ex-
banding here and he was looking to a
far greater need. Power was supplied to
large consumers on a basis of seven
tenths Of O cent per kilowatt hour. In
his opinion Chattanooga was destined to
be big Industrial center. as its location
was ideal
/ BANK DEPOSITS
AND LOANS.
Mr.. Preston said collections were good
and there had been steady improvement
In the liquidation of loans Redlscounts
were on about same scale as for the last
six months. Savings banks deposits were
good. while individual and bank de-
posits were low. County bank balances
had declined two-thirds and their debts
likewise. Country banks in the Cotton
Belt were beginning to liquidate their
obligations. Money rates probably will
be reduced.
Mr.. Loveman, F. Loveman department
store, said business had been fair and was
improving. In volume of goods It was
! about the same as last year but much
less In money. Buyers were more dis
eliminating in their purchases; women
were willing to pay good prices for good
! articles. Men were poor judges Of
! quality. He found It difficult to reduce
overhead He was carrying little or no
/ surplus stock. Mr.. Miller and Mr.
Andrews reported the hosiery business
excellent where sales were made direct
to the retail trade. In units of goods
sales were fully up to the best recorded
excepting the two peak months OF 1918,
February and March; short skirts had
been blessing to the hosiery makers.
EXPORT BUSINESS
AT LOW EBB.
Mr.. Andrews said his shipments last
month were the second largest in volume
of goods but not in dollars. Export
business had dwindled to nothing but
recently he had inquiries from Australia.
expect much business from abroad until
the exchanges were adjusted.
Mr. Thatcher said his mills, one here
and one in Alabama, represented a spe-
cialized branch Of supply to mills in the
spinning and mercerizing of fine yarns
this year for production had been the
heaviest in their history. They had been
working full time since January and
steadily increasing production, that Of
October being the largest. He was sold
up for 1921 and well into 1922 His pro-
duction was for 100000 to 10000 pounds