Mohave County miner and our mineral wealth., 1922-05-12
|RABSuN, statistician f til'GcS
 |U on Business Condition sI
WORST IS OVER
 FOR NEW ENGLAND

WORST IS OVER
 FOR NEW ENGLAND
 "If you were to study chart show ing the path of business depression you would note striking resemblance to a weather map outlining the path of a storm. The present depression was first evident in New England and has spread southwark and westward until it centers today in the wheat growing section of the middle west.
 "New England being the first to feel the depression, is according to the great basic law of action and reaction, the first to show signs of recovery. From study of statistics I am convinced that the foundation of fundamental conditions necessary for the period of improvement is practically complete as far as New England is concerned. During this coming year manufacturers, mer- chants and bankers of this section of the country will struggle with their individual problems. While I do not expect to see anything like a period of prosperity for this section in 1922 I do feel that the worst is over and that gradual improvement will be evident from now on.
 "1n activity the more important in dustries are already reflecting a de- cided improvement. The textile in dustry for instance, which is by far the most important in New England is much buster than a year ago. Ac- tivity in cotton goods for instance is 809o of normal at present, whereas a year ago it averaged 509o. Woolen goods were operating at full capacity during the early fall, and are still running near it. A year ago most of the woolen mills in this section were running between 35% and 40%6 of normal activity. Fundamentally the textile industry has turned its corner an dis already in it's period of i'm provement. The executives of New England face two problems. First, the fact that the cotton center of the Unit ed States is rapidly moving South. In 1914, 1S,500,000 spindles reported in the northern states as against 12,- 100000 in the southern section. At present the report shows 19,500,O0O in the northern states, an increase of 5% and 15,50O,0O0 spindles in the south, an increase of over 259o. If the exe- cutives of these northern mills are to keep the textile center of the United States in the northeast they must meet this competition.
 "The other factor that is keeping them from full operation are rather heavy imports of both cotton and woolen goods from England. These resources of course depend largely up- on the tariff legislation. The safest way to meet this flood of medium priced foreign made goods is to in crease efficiency and produce better quality textiles in this country.
 "The boot and shoe industry has also turned a corner, and its present 1 activity is improving steadily each month. The shoe men are also facing the same problem as the textile peo- pie. The shoe center of the United l States is gradually moving westward.
 "In 1914 New England produced 53% of all the shoes made in the United States, this decreased to 4S% i in 1919 and the latest figure shows that production of all grades of shoes during November 1921 was only 37k% of the total United States pro- duction. The western manufacturers have increased their share of total business by producing medium priced, good quality shoes, which can be made and marketed in quantity. I cannot help but feel that this competition with other sections of the country pre- sent one of the most serious problems that the New England manufacturers must produce better goods, lower prices, and more efficient organiza- tions.
 "The paper industry is experiencing a marked improvement, but is now in the trough of a slight decline. Heavy stocks are still proving handicap to this industry. However, conditions are B great deal better than they were a year ago, and 1922 should be bet ter than 1921.
 "The labor conditions in New Eng and are experiencing a considerable lad at least one cut. The maufactur- ITS are also taking the same view of he situation and are doing everything