davidaulloa/AmericanStories huggingface dataset:
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-07-17
Style Element Stimulates Shoe 7fudebut 4dds T10uble

. HE shoe trade of the country,
after suffering a year of
drastic liquidation and Wifi
cation, in which charges of profteer-
ing were hurled from government
and private sources to the discomfit-
ure Of the entire industry, has set
tied down to a more normal appear
ance. The readjustment in shoes
came early. The shoe people feel
that they have takerf their bath of
and are now on the high
road to better business.
Problems--many of them large
ones, too, still confront the manu-
facturers and retailers of Americas
footwear, but the worst is over, and
the trade is setting about to solve
the remaining difficulties.
For the last six months the shoe
trade has shown almost uninterrupted
progress. The dark hour before dawn
came just before the turn of the year
With the opening of January there
was food of new business turned
into the country's shoe factories that
started the idle wheels revolving
Spring trade was good, in many cases
exceptionally good.
The manufacturing trade is just now
entering the fall season and the out
look is bright. True, retailers have
rot fallen over themselves in their
anxiety to shower the manufacturers
with forward orders, but the retailers
are buying from two to three months
ahead and this business is keeping
most OF the factories running at pres
ent capacity. This may seem hit
paradoxical, when the present produc-
ton, reckoned in pairs, is scarcely
riors than so to 70 per cent of normal
according to the best authorities, but
it must be borne in mind that style
that almost intangible element, is
playing a greater part in footwear
sales to-day than ever before. AS a
result of the strong demand for almost
every conceivable kind of decoration
net only or women's, but on men 8
footwear as we'll, the productive speed
in the factories has been greatly de-
creased.
Reports from many of the factories
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-07-17
Jobbers Here This Week

A large number of wholesale dry
goods buyers will be in town this week
on buying trips and also to attend
the midyear meeting of the Dress
Fabric Buyers Association, subsidi-
airy of the National Wholesale Dry
Goods Association, at the Waldorf-As-
toria on Tuesday. An informal confer
ence will be neld tomorrow afternoon.
The meeting on Tuesday will be given
over 10 discussion Of the situation in
eottons, silks and WOODEN dress goods,
with addresses by manufacturers and
selling agents in these lines.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-07-17

which make "dolled up shnes show
curtailment of production close to so
per cent because Of the greater amount
Of time consumed in the fitting rooms
In properly placing the trimmings Of
the shoes. And" says one prominent
manufacturer of high grade shoes .or
women, "as soon rs our workmen BE-
come more efficient in fitting one style
of shoes through experience the style
changes and this efficiency is lost"
Only Fancy Footwear Saleable
Although the ever shifting styles and
the prevailing trend for highly embel-
duction, manufacturers are chary Of
any move that will tend to eliminate
the so-called millinery character that
has enveloped the trade. 1t is doubt
full that if the strapped pump and the
bfogue styles in oxfords had not been
introduced in the footwear trade
r. onths ago, the industry at present
would not be as far advanced as it is
on the road to recovery. At any rate.
retailers say that the highly styled
shoes, with few exceptions form the
only saleahle merchandise in the
stores.
One prominent New York shoe re-
taller recently received letter from a
woman in South Dakota in which she
asked, Where in all the United States
is it possible for woman to buy a
pair of sensible shoesss" The letter
went on to say that in her town the
stores carried nothing but fancy shoes,
ind that on her visits to neighhoriny
cities she had been unable to find what
she thought was sensible footwear
This particular case is extreme, says
but it does indicate that the demand
for styled footwear has invaded the
smallr and more remoe communities
just as it has the larger cities. Even
sraall-town merchants are not in the
habit of carrying goods for which there
IS little or no demand.
More Style Shows Than Usual
More than the usual number of fall
shoe style shows have been held this
month. This, of itself is an indication
of the increasing interest in the style
end of the shoe industry, but additional
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-07-17
d., L. & ~. improves

The Delaware, Lackawanna & West
ern's operating ratio in the first four
months of 1921 averaged 81 per cent
BY April however, the ratio had been
reduced to 81 per cent The Lehigl1
Valley operating ratio for the first four
months was 104, and this had been got
down to 80 in April without econo-
MIXING on the upkecp of the property
The Delaware & Hudson reduced its
ratio from 81 in the first four months
to 10 in April.
Taken as whole, the Eastern rail
roads are dependent for increased gross
revenues first on q revival of the steel
business; second on miscellaneous
manufacturing businesses, and third,
on a revival of import and export trade.
Individuality of course, it is possible
for one road to get larger share of
some classes of traffic than its com
petitors. And conditions in this re
spect have returned to pre-war basis.
The traffic. departments of the Eastern
roads, and probably of roads all over
the country, are playing the game as
keenly and with much the same wea-
pons as before 1916
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-07-17
Wholesale Business Duller

Summer resorts are reporting dull
business, according TO The Credit
Guide, but with less people visiting
the resorts merchants in the home
cities are doing larger business.
wholesale statesmen report business
lirht but not dull. The Guide reports
that for every 1000 orders placed IN
the women's wear market last week
there were 1,065 the week before, and
in the mems wear market for every
1000 orders last week there were 1,o8a
the week previous. Carpets ana mouse
furnishing are reported sui dun, out
an per cent Improvement is noted in
hardware and building materials for
the week
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-07-17
Eastern Roads Turn
Corner at Midyear
New York Central July Earnings Ex-
pected to Reveal Return to Prof.
liable Railroading

LOW ratio of expenses to has been the
successful American railroads The operating the
n figure which the solvency
railroad continue
sz of surplus for limited period Of time Various
be adopted for dngs
sweed temporarily
m maintenance of and
delayed but the long the
~ allowance the true measure
The companys securities bonds we'll as stock
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-07-17
Sees Trade at Bottom

A prominent steel manufacturer
stated that he believed poor business
is scraping bottom and the. next turn
Will be for the better. which he feels
confident viii come soon With the
cutting of the price of steel consum-
ess soon will begin placing orders for
immediate requirements, he predicted
Consumers realize that there will be
no additional cut and thta a reduction
of freight rates is practically out of
the question for year. They also
know that there viii be no reduction
in the price of coal, which is q big
ccst in the manufacture of steel, be-
cause the wage adjustment will not
come before next April.
National and state banks of the
Shenago Valley are in = prosperous
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-07-17

modjties are urgently required By Ger
many to furnish the basis of ner ex-
portable manufactures. which IN turn
Are her hope of discharging the repaEa-
ton obligations.
The market outlook in the United
States. although by no means rosy, Ri
longer has the bleak appearance Of the
latter part of 100 Thos two most i'm
portant steps, the financing of 40e. eoo,-
900 pounds Of surplus copper. and the
sharp curtailment of production, have
placed producers in position from
waich they can view the future With
confidence Regardless of how small
the worlds present consumption may
be United States production has fallen
to a level smaller than monthly exports.
The relation OF present smelJer pro-
iuction TO pre-war. war and postwar
production is shown IN the following
table:
SHELTER PRoDrCTfoN OF UNITED
STATES COPPER
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-07-17
Tin Plate Market " eak

Operations of the Cambria Steel
Company plant of the Midvale Steel
and Ordnance at Johnstown Will re-
main the same for the coming week.
There is no immediate prospects OF
frightening UP Of conditions, but a
great Improvement WITHIN the next
several months is looked Tor py an
Official of the company.
Rejecting general conditions in the
packing and canning industries is the
weakness of the tinplate market AT
the new maximum of $5.75 for produc-
ton plates some business is rtckhng
through. but in small tonnages
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-07-17

Swiss Federal Railway Administration
approved the buying of thirty two eler-
trio locomotives, according TO Consul
Thornweii Haynes, at Berne. A credit
Of 24,0o0, 600 francs. chargeable to tho
1921 -'23 construction account, was voted
for this purpose
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-07-17
Predict Further Decline

Midwestern bar iron makers who are
n bers of the Western Bar Iron AS
ISOLATION look for further declines in
the price of bar iron from the aver
erage price of $50 cents pound dis
closed ct the last settlement with the
Amalgamated Association of Iron,
Steel and Tin Workers to determine
tie tonnage rates to be paid boilers
and hnshers in the July August period
Bar iron is reported offered in the
East at 1.85 cents, Pittsburgh.
Additional decline will mean. of
course, further reductions in the rates
paid workers in affected mills. At
2.30 cents, puddlers' wages dropped to
$12.52 a ton, from sl3.75 paid in the
May-June bi-monthly period. The cur
rent rate compares with q postwar
peak Of s1876. At 1856 cents the pud-
ding rate would be $lo.2s on the old
scale. In view of the possible down
ward revision OF the base rates and
the price of iron falling below cents
pudding rate of SO ton il predicted
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-07-17
HOLIDAYS This Week

Monday July ls--urugaay tConstitution
Day1
tuesday. July ls--India peace ceIehra-
toni
Wednesday, July 2o--Brazil Estate az
Psrahyba, local holiday Colombia unde-
penderce Day..
Thursday. July 2I--Relgium and Belgian
Congo tannivsrsary of national indepen-
dence}.
Saturday. July as-Turksy s.lproclama-
tion Of tho oonstltutioax
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-07-17
I92O-'2I Scale in Force

Active bar iron mills are still oper-
atlng under the 1920 21 agreeme Mt
under a clause which provides for its
automatic continuance for thirty days
following expiration of the old scale,
upo nfailure to negotiate a new agree
m lent.
The most important news from the
Shennango Valley is the continuation
of operations of the sheet mill of the
American Sheet and Tinp,ate Company
al Farrell at full capacity and continu-
alton of steady work at 100 per cent
of output. While nothing definite has
been learned relative TO the consump-
ton of the tin mill, it is believed
that the cutting of the price of tin
from s6.25 to 1915 a base box by the
steel corporation presages good and
that orders may come at any time. TO
start the nlant
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-07-17
Hope Wage Cut Will Help Steel.
Mills in Pittsburgh District Prepare to Resume if
Demand Arises After Second Labor Re-
duction, Effective Now
Special D,spateA to The Tribune

PITTSBURGH, july
YET
failed
the enforced
mills
little business
such interests under
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-07-17
Plants Actire

Independent bar makers have sas-
pended such units, though the bar
mills of the steel corporation IN the
Mahoning Valley are producing at the
rate of 80 per cent. 1t is stated thae
much business of the corporation Is
being concentrated in valley plants,
which are regarded as low cost UNITS.
In the Mahoning and Shenango val
leys six of the forty-six blast furnaces
are mourning, nineteen OF the sixty-six
omen hearth furnaces are charge, one
Of three Bessemer plants of the
Carnegie Steel Company-is active,
one of four plate mills is under power
and four of the seventeen tube mills
are active.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-07-17


~s;lrosds has been at so high figure
ia, If conditions were 20 remain uu-
hanged for smother sig months q con-
/. .;ss-shle part Of the railroad mileage
4 the country might be in receivers
hands. but there are indications that
.hs carriers are turning the corner.
In the frss four months of 1921 the
.nhison Topeka & Santa Fe operating
attn was So; the Baltimore & Ohio,
a. the Boston & Maine. 10e; the
Chesapeake & Ohio. So; the Chicago
4 Northwestern, %; the Chicago. Bur
i,eton & Quincy. 10; the Chicago,
Milwaukee & st. Paul, IS; the Della
vsre & Hudson, 81; the Delaware,
rxekawanna & Western. 81; the DEN
rr & Rio Grande, 80; the Illinois
Central, 81; the Kansas City South
,rn. IS: the Lehigh Valley, 104; the
fouisvilie & Nashville, 1o1; the Mis-
souYi. Kansas & Texas. SO; the Mis-
sauri Pacific, 90; Nashville, Chattanooga
{ St. Louis, 107; the New York, New
Haven Hartford "a; the Norfolk IL
Western, IS: the Northern Pacific. 95;
The Pennsylvania. 90; the Philadelphia
! { Reading, 80; the St. Louis & San
Francisco, II; the St. Louis South
western, 90; the Seaboard Air Line,
@; the Southern Railway, 90; the
Southern Pacific, 10; the Union Pacific,
u. and the Wabash, 80 OF these
roads, however, all but two or three
snow lower operating ratio in April
than they did IN the preceding three
months.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-07-17

With these figures as a background
the New York Centrafs present show
Inc stands out strikingly. Estimated
egures for the New York Central are
valuable up to and including July.
In July the New York Central will
operate on ratio of expenses to reve-
nuc Of about 63 per cent, it is esti-
mated In January, 1921, the New
York Central operating ratio was more
imam 80 per cent. If the July esti-
mates are substantially correct, this
VIII mean that the New York Central
mas succeeded in taking the - per cent
decrease in wages. the econ onies which
nave been possible in getting more
work out of men an hour. the reduc-
ton in cost of fuel and other ma
erials etc, and has solved for the i'm
mediate present at least, the problem
which has been presented to the rail
road managers by the Interstate Com
nerce Commissions Interpretation of
the transportation act and the Labor
Boards rulings.
In January the New York Central's
net operating revenue was approx
nately 81 ,000,0 900. For July it is esti-
mated that it will be about S9,000,000
XThese estimates are based on figures
Mat may be relied to be within or 2
prper cent of the. actual figures. Trans
] portation expenses, which include only
wages OF trainmen. fuel, etc, and do
not include overhead expenses and the
/ cost OF upkeep OF the property, absorb
approximately AZ per cent of the total
operating revenues in January, 1921.
] In February they were AZ per cent sof
lsreraes; in March, az per cent; in
april. 81 per cent; in May, SO per cent.
sad IN June, S. per cent. This is a
concentration of control of operating
I EXPENSES that is not typical of Eastern
railroads generally, but it shows what
mas been found possible on one of the
strong Eastern roads
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-07-17

around Bridgeport and
IN the metal industries are still either
closed down or operating at fraction
of their capacity.
Nesr Haven Crisis
The lowest figure that the New York.
New Haven e. Hartford reached since
the outbreak of the war in traffic was
II 100000 gross ton miles, carried in
the week ended May 10, 1920. In the
corresponding week OF 1921 there was
ll5,osl,00o tons per mile carried. In
the next week, 117,451 900; then there
was falling off in the first week Of
June TO ll3,4S6,0 900, and from then on
steady increase -126, 741, 600 in the
week OF June 1s. 1870 656 900 in the
week of June % and 135,329 900 in the
week ended June 80. Traffic on the
New Haven can increase proftablv only
up to certain extent, and after that
congestion and increased expense fol-
low additional traffic. The $4,000, 900
gross ton miles carried in the week of
June 30 by no means represents the
point beyond which additional traffic is
Improbable. But some observers are
of the opinion that the New Ravens
net operating revenue can be brought
up to satisfactory figure by an in
crease in traffic alone.
The New Ravens financial probe
is pressing, yet it is not at all impos-
sioie that the operating management of
the New Haven can effect such drastic
economies within the next few months
as may save the situation.
The New Haven's plea for better
division of through rates is now before
the Interstate Commerce Commission.
1t would appear that the New Haven s
continued solvency is more likely to
depend on this decision than on any
efforts Of the operating and traffic
management. 1t should be recalled
however, in Studying the whole East
ern railway situation that if the de-
cision is favorable to the New Haven,
the other Eastern railroads. the Penn
sylvanja. etc, will have the amount
of the New Ravens increased net rev.
enue deducted from their net.
The Erie's situation is somewhat diff
ferent- It is believed by Erie-operat-
ing officers that, if the Erie can get
additional traffic Of a character that
is suitable for it's operating conditions,
it will be able, with the IL per cent re-
daction in wages, so to reduce its oper-
ating ratio which has been in the re-
cent past above 100, as to earn its fixed
charges. The Erie has better chance
than any of the other roads in the East,
whose detailed figures showing condi-
tions are available, to modify in prac-
tice the worst of the losses due to the
national agree ments, the full crew laws
etc. This is because the relations be,
tween employees and the subordinate
operating officers, and the relations be
tween the subordinate officers and their
superiors. lend itself to the working
out in natural-giv and take -way.o1
modifying conditions Of work which
make for unnecessary expense.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-07-17
Copper Exports Now
Exceed Production
Foreign Demand Is Bright spot III
Otherwise Stagnant Trade Condition;
Miners Ready for Revival

THOUGH of general resumption
domestic trade m agnanI
n at exports
CT the seters the United states
small copper
from abroad bright spotn outlook
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-07-17

A "bolsa,' or exchange for trading In
shares bonds, cedulas, stocks, etc. has
been opened in Quite. the frat of the
class in Ecusdcr. The locsl nrss6 =
advocating rhe orgsnixsSssxAA 4 az
iIaE insszsxssA& q GuaeasNA
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-07-17

The copper industry has reduced it's
closing down the mines, and IN this
respect is in better economic position
than the iron and steel trade, which
is admittedly running close TO the wind
with respect to proits. The leaders in
copper nave placed themselves IN a
position where they can begin opera
Jiou at moments notice should the
occasion arise.
The great Anaconda mines, for in
stance, have been financing the needs OF
their workmen so that they will not
migrate to other centers during the
present period of business stagnation.
1t is likely that other OF the Leading
producing companies have adopted a
similar policy, although to all intents
and purposes workers have been
dropped from the pay roll.
AS indica ting the present import
ance OF the export trade table OF cop
per movements prepared by the Engin
eering and Mining journal showed that
monthly copper eports for the first Ave
! months of 1921 were from SIS TO 90 per
cent OF the pre-war rate. The three
most important purchasing countries
were England. France and Germany. A
study of the shipments to each OF those
countries brings out the highly signific-
ant fact that Germany has lately been
the chief support to the copper ex-
port trade. This statement is all the
more remarkable when it is recalled
that Germany pays cash for copper pur-
chased in the United States, whereas
France, England and other countrie g
have been able to take advantage of
! the liberal credit terms advanced by
the Copper Export Association.
Table of Exports and Imports
The following table, prepared by the
Engineering and Mining Journal
shows the copper movements from and
to the United States:
EXPORTS (PoUNDs>
Average Aversg.
monthly monthly May
pre-wsr. 1920. 1921
dom 100. $3.50, ooo 1920. ooo s.7ss.ooo
France ....li.5so.oo0 9s74 600 Ass. os0
Germany ,.ls3s6,ees $4,000 1874. ooe
countresl 81 2ss, 900 81 sss .ooa 35,37s. coo
IMPORTS POUNDS)
countriep os85o, 900 sa,77o, 900 12,sss,o oe
Germany May Get Credit.
The omission Of Germany from the
list of those countries with which
creuit arrangements can De consun1-
mated has not had much effect on the
ability of Germany to purchase all tn.
copper she wishes" adds the engineer
ing publication. at may be, now tina,
peace has been ocially declared, tina
negotiations viii be entered into look
ing to the extension of credit TO Ger
many as to other countries Whethe
such step would increase sales I,
central Europe is problema
AT the same time that Germany j
purch asing copper from the Unitet
States producers, she is also supportin;
the London copper market. The sourc,
of the credit for All these purchases i:
not definitely known and the extraor
\ binary ability of nation defeated in
war. burdensd with an enormous In
demnity, yet ready to pay cash for its
raw material purchases. is testimony tc
the fact that she still has friends will
ing to aid her financially.
"The copper furnished Germany will
not enter a war chest, as was the
charge prior to the war. but will un.
doubtedly be cheaplv manufactured
into electrical machinery TO be ex-
ported TO all parts of the world, Cop.
per. cotton. wool and other raw com
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-07-17
To Open Factories in Shanghai

Two Chinese business men are plan
ming the establishment of FIVE large
factories in Shanghai for making bis
cults, glass, machinery and sugar. The
capital of the enterprise viii be s15,~
600 900 An area of 200 NOW of land
tone NOW equals $500 square feet in
Shanghail at Yichowtang. along the
Whangpoo River. has been purchased
for factory sites. Subscriptions are
being solicited in Food Chow, Annoy,
Swallow, Hong Kong and other cities.
When s1o.o0o,oeo is subscribed the
company will be organized, states The
Far Eastern Review
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-07-17

condition, according to the statement
just issued The national banks of the
valley show deposits of nearly s1o.-
100000 and resources of nearly STA
100000. With the resources Of the
state banks added the total will reach
close to SCI 100000, which is more than
in March of this year.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-07-17

Toseph Geriie Of e Gerns e. Co. nas
beer elected a director OF the Italian Dis
count and Trust Company.