The New York herald., 1922-10-30
JOBLESS ARMY HERE
CUT 4OP. IN YEAR
Decrease in Unemployment Is
Accompanied by Increase
in Trade.
BUSINESS is OPTIMISTIC
Adjustment Of Labor Troubles
Looked Upon as One of
Best Signs.

A survey OF business conditions made
by the Merchants Association shows a
40 per cent. decrease In unemployment
in New York city during the last year
and a feeling of optimism as to the
immediate business outlook from promi-
nent men In various fields Of business
activity.
Several thousand letters were sent
out asking opinions on the trade out
look and of the replies received to date,
with the exception of a single letter, all
Z were unanimous in declaring that busi-
ness is distinctly better and that the In
dications are Enthusiastically for con-
tinued advance. The dissenting letter
was from an importer who did not be-
lieve the purchasing power OF Europe
was sufficiently restored to bring back
normal conditions in his line Of busi-
: ness.
Opinions of Business Men.
Some of the excerpts from the replies
received are given below:
Struthers Furnace Company, manu-
facturers Of pig iron-Our business has
improved materially in the last thirty
days. From present indications we
would say the business outlook for the
future is most hopeful.
r. Tyson Whites Sons. manufacturers
OF paper Disqualification for future
business prospects are much brighter
than for the last three years. We are
running overtime and taking on as
many employees as we can obtain. AS
q comparison with 1919, in the last two
months we have booked orders for an
amount equal to 25 per cent. of our en-
tire sales in 1919, which was an ex-
ceptional year.
w. Rodman Fay, president of G.
Schirmer, Inc, music and musical sup
plies.-Our observations indicate splen-
did business ahead for us, nearly APP
preaching the years 1919-1920, the best
we have had. Sales for the last few
months have been remarkably good.
Sees Gain In Buying Power.
G. A. Clarke, eastern manager of
the United Chemical and Organic Prod
ucts Company am optimistic of a
decided return to normal conditions In
the immediate future AS most of the
justed. resulting in many cases In an
increase in wages, this should enable
the buying power of the puplic TO start
reaching a nearly normal basis.
The largest decrease in unemployment
was in the transportation and building
trades groups The committee in charge
OF the survey found that there was vir-
tually no unemployment in New York
city among railroad workers or truck
men. Most OF the. sailors and n large
number of the longshoremen previously
unemployed have drifted into other
work. and some are engaged In the
building trades.
The monthly review Of business con-
y ditions of the Federal Reserve Bank OF
this district reports that department
store sales were larger in September
than I'm the corresponding month of the
last three years. The gain over last
year was about 16 per cent.
New York Has Largest Gain.
"Stores In all parts of the district re-
ported substantial increases in sales, "
SAYS the review, but the gain was
greatest in New York city. Merchants
assert that sales have been good in all
departments and especially large In
ready -to-wear clothing and house fur
nishing goods. There appeared du ing
the month an increasing demand ior
so-called luxury articles, the large sale
of which characterized department store
business in the fall of 1919 and the
spring of 1920"
The total volume Of wholesale trade
month since September. 1920. The
largest increase was reported by deal
ers In machine tools. reflecting heavy
purchases by railroads and equipment
companies. The sale of clothing ad-
yanced nearly 80 per cent. with man
,rfacturers reporting larger orders from
the South and Southwest than for two
years.
September sales by the chain stores
to- - In,
crease as in department stores. The
largest gains were reported I'm the five
and ten cent stores, amounting to about
20 per cent. The increase in sales of
ls per cent. In the grocery systems Is
attributed in a large measure to the
opening Of about 1000 new stores in
the district.
Basis of Increase In Sound.
The fundamental conditions under
lying the forward movement of business
are intrinsically sound. according to
the current issue of the Guaranty Sur
vey, and are an evidence of the prompt
resumption OF progress as soon as the
retarding influence of the strike situa-
tion was removed.
Several factors, however, the publi-
cation warns. tend to restrain develop
ments on a scale comparable with that
OF 1s19-fs2o, these being the lack Of
stable adjustment of farm product
prices rising wage scales, inadequate
railway equipment and the uncertainty
OF conditions abroad. Progress should
be steady, 1t is. pointed out, and not
stimulated artificially.
mo measures for Fastening read
iustment here through the agency Of
initiation should be tolerated" the Sur
pey says "It is better for business in
the long run that recovery should pro-
ceed gradually than that over reaching
expansion In few lines should further
disturb the processes Of orderly read