Evening star., 1921-04-12
Increased Bank Savings
Trade Depression Marvel
BY H. b. LACFMAN
Special Dispatch to The Star

PITTSBURGH. April 12-"Owing
to current increases. our bank depos-
its are larger in volume and number
than at any time in our history, the
recent growth being especially slrik
ing" This statement was made by
an officer of one of Pittsbursh's $
largest savings banks. who expressed
surprise over the growth in savings
when industrial depression is in evil
dence.
Responses to questionnaires sent out
by X. l. Seaman. manager of the
trade. and industrial bureau OF the
chamber of commerce. show that
many OF the men interviewed believe
wage reductions are essential to a
return to normal business. Sixty-six
returns make specific references TO
this need. Many of the writers are
openly pessimistic, but a majority.
wnlle admitting that business is dull.
profess to see a silver lining to the
cloud.
Twenty per cent believe a drastic
revision IN taxes is necessary.
Wage Revision Slow.
other suggestions are diversified.
Inc government should paw its debts
70 railroads. foreign trade relations
! InUSt De brought back to normal and
peace must be declared, are among
them.
Very little progress was made dur
ing the past week in efforts to revise
wage scales. Building is almost at a
stanostll. Building trades are Solidly
organized through the American Fed
GRAFTON of Labor
The Iron City Trades Council is a
local organization of such unions
Until the present crisis part of the
unions were not affiliated with the
council. To oppose wage reductions
and present a solid front, all building
trades have united through the coun-
Gil.
The lack of stability in the steel
market is partly responsible for the
depression in the industry, and un-
mediate future in building and other
lines is another.
BUSINESS NOTES.
NEW YORK. April 12.-The same
big department store which just
about year ago began to slash
prices on women's wear and other
merchandise announces today cut
rate sale of diamonds. The an
Eouncement declares the prices are
entirely temporary. Rings on which.
it is asserted. the standard price is
$2.150 are offered at $1,000. A ring
standard priced at $4,000 is offered
$2,77o, claimed reduction from
$5,575. Bar pins are offered as high
as $3.50, a reduction from S2,775;
while bracelets are offered at $1,000,
reduced. it is said. from S5.625.
LavalliereS go still higher. a fancy
pendant Of diamonds and caliber sap
phires being offered at $500, which
is a claimed reduction from the stand
ard price of ss,075.
ATLANTA, Ga, April 12-Farmers,
merchants and bankers from all sec
tions of Georgia are gathered here to-
day to consider the application of the
California plan to the marketing and
handling of the cotton crop. Aaron
Sapiro, author of the California plan.
is here to explain in detail the method
used in California in marketing fruit
and truck. Eugene Meyer. jr.. chair
man of the War Finance Corporation,
who is here, declared to visiting dele
gates that the cotton problem is
neither southern. nor sectional, but ma
tional. and is entitled to first consider
alton by the federal government He
predicted that material relief was as
sured.
PHILADELPHIA. April, 12.-Mem-
bers of. the Philadelphia Stock Ex-
change will adopt New York city day
light saving hours April 25. Boston
and Chicago have adopted daylight
saving, but Phi. elphia. as a whole,
has not. A daylight saving measure
failed at Harrisburg and a substitute.
providing for local option among the
cities. has been smothered in commit
tee much to the disappointment of
Philadelphia bankers and merchants
The chamber of commerce favors a
new time zone for all eastern states.