The Connecticut labor news., 1921-07-22
CONSTRUCTION IN U. 5.
 IS WORTH BILLIONS
This Industry Repre- sents 26.2 Per Cent. of Total Wealth of This Country.

The construction industry of the Omted States represents a value Ot approximately $77,92I ,ooo,oO or 2OS per cent. of the total national wealth Ot the country, estimated al $2SS,4O4 OoO,OOO according to q speClal report lSsued by the committee on statistics and standards of the United States Chamber Ot Commerce.
 A. W. Douglas, of St. Louis, is Chairman Of the committee, winch has submitted d report presenting an analysis of the relation Of COnstruC- tion to the basic industries of the ma tlon, including manufacturing, mln- ing, transportation, agriculture, trade and finance. The report draws the conclusion that construction as key industry should be classified separate ly as one Oi the nations basic indus tries.
 The report shows that in 1914 one quarter Of the 27O,ooo manutacturlng concerns employing 1O,O5S,OoO work CTS, with an annual payroll ot S5,- sos, ,2o4,o ,oOo and an annual output worth $25 ,ooo, COG, ,oOO, was devoted to construction products.
 In 1920, 90 per cent. of all iron ore, copper and zinc and 05 per cent .ot all lead mined were consumed by construction. Twenty per cent. of the bituminOus coal and per cent. ot the anthracite coal mined were used by manufacturers of construction mate rials, by the railroads in transporting these products and by traction lines and public service corporations i'll service to construction workers. A rough estimate of the value of these minerals is $4,4oO, 100000 engaging more than 100000 workers at an annual wage of approximately ST. oo,ooO, ,ooo Twenty-Five per cent. ot the freight transported by the rail roads is construction materials, 1t IS estimated.
 Fully II 100000 persons, either as workers or as members of workers families, are estimated to derive their living from construction, either dl- fectlv or through manufacturing and mining products used in the conStruc- ton industry. The support given to agriculture and to trade by the an nual expenditures Of this great num- Der of persons, is estimated at more than $5,ooo,ooo ,ooo for rent, fuel, food, clothing, furnishings, recreation, etc.
 New capital issues during 1920 so far as reported totalcd $4,54 F, ,ooo, 900 consisting of state, municipal, rail road and industrial securities, ot which it is estimated 50 per cent were issued for construction i'll one form or another. A considerable proportion of the new capitalization went to pay off maturing obligations which were reflected, however, m past construction to a large extent
 Even this estimate does not cover the whole field, it is said. It eN. cludes indebtedness of the federal government for construction, for which segregation is difficult, and does not include issues of foreign governments or municipalities in this country, the proceeds of which were to be used for improvement and ex- tension of their public undertakings.
 This sum also is short a large amount of expenditure for new con struction because a great amount o1 expenditures for additions to plant structures, etc, is paid out of earn ings and surplus and does not figure in the investment market.
 With all these figures on hand, I appears that A per cent. of the year capital accumulatiOns and probably SO per cent. of the national saving annually go 10 construction.