Milford chronicle., 1922-12-01

Business condition in the Third
Federal Reserve District continue tC
he good. and although the rate Of i'm
nrovement during the past month has
not been so rapid as it was during the
nreceding two or three MONTHS the
Situation today is perhaps better than
st anv time since recovery began. Bot1
retail and wholesale trade are more
active than they were a year ago. ano
manufacturers report decidedly gOoO
business. Some industries, II is true
have had a seasonal slackenlng II ue-
mand, but in none of these mas tne
decline been greater than was TO DC
exDected. Indeed, many express sur
nrise that the demand has not tallen
off more sharply, as is usual with ihe
near approach of the time for Taking
inventories. t,,,+
Steel sales are slightly smaller D9'
nevertheless total a considerable VOL
nme. Most of the business oHereui
however, is for delivery before Ine
first of the year. Local demand LOT pls
iron has been slight, as a result VI
tbe heavy receipts of foreign iron De-
in gdelivered on old contracts; ana
because of this and of the larger sup
n1v of domestic iron now aVallaDle
through increased blast furnace ac-
tivitv' prices have declined. More tur-
naces are in blast today than at any
timu since December, 1920. Steel pro
Jrction. too. has continued to eXpand;
Steel ingot output in October totaleu
2.872,415 tons, the largest mohI1ly "
tai since October, 1920. Although p@IO- @
duction is heavy, it would pe sIeolOot e
were it not for the decided searclIy u
labor and for transportation ulilioul-
ties. :. +ho coal
situation. The demand for domestIc
sizes is greater than the SUPPLY DuS
tbe success of distribution plans anu
the continued mild weather nave re-
iiavad fine situation somewhat. Anthra-
cite nrices as a whole have not au-
Tanced but a few independents nave
increased their quotations to compen-
cote for the fall in the price OF sCeanl
sizes These are a drug on the market
of tbis time, and operators haNlnS
STORAGE facilities are piling up stocks.
Anthracite production is sLsn[ly
above normal, averaging about z'UOU'e
OOO tons per week, as the nuLhDeI VI
cars has been adequate and the LABOR
snnDlv ample. Indeed, some opeId'OlS
Tenorf a surplus of miners. Ihe ue-
1oand for bituminous coal IN the east
is onlv fair, but it is reported lhaC
so1es in the middle west have Deeh
LARGE at quotations about 81 per ION
big6er than those prevailing in the
local market. .+i11 ,,erv
Building in this district is sun very
active. Indeed, the number OF peIIlies p5l'.
issued in October in the Thlro Feu1I-
al Reserve Districts, ,l69-Was LIZ Cno
largest since June Of this year. Ane
estimated value of these permits now
ever was much smaller. Contractors
renort a scarcity of labor, and as
result in many of the building traueS'
WAGES are the highest ever recoroeu'
Manufacturers of building mateIld4s
Tenort a good demand for their pro
ducts although normally TINS Is
slacIy season with them. Building luHl-
I1eT. sales. it is true, have declIneu
slightIv. but brick manufacturers are
oversold. sales of slate are the IarSest
in recent years, and paint and electIl-
ca1 supplies are moving well. All Ine
nroducers of building materials are
onerating at as close to capaclIy do
tlTn labor situation will permit
The textile industries are IN strOHs
nosition. Sales are large, but manu-
facturers are taking precautions "
avoid anv other production sucn DIS
would leave them with heavy surplus
stocks at the beginning OF the normal
To,,11a,.v reaction. Staple cotton gooas
o,.a in constant request, and sales Oh
warns have been heavy. Frlces VI pocn
warns and goods have adVanceu' IA
" as a result of the spectacular uloYe "
ment of raw cotton. improvement nS1a .119
occurred also in the demand iOr SIZE
Goods. and quotations nave auYanOou
6ecause of the high level at Whlcn raw
ELL nrices are being maintained MANY
sil[ throwdsters and weavers report
y sbortage of skilled labor, anu u
several 3 cases wages have been au-
1,onced Conditions in the WorsIeu IL
dnstrv are especially good. Inc ue
Toand for cloth is very brisk anu -
i-1onroving in both mems and women
1Toar Production has been lncreas-
ID b,,+ as in other industries, is re-
= rded somewhat by the shortage ol
.1yiIIed labor. AS a result OF tne ac-
tiI-i+,1 tI-r+1- in worsted cloth, worsted yarn
Sr,i,o1ors. 80, too. have had good business
;9daad several report that they are
hook to capacity until next april
PTices of both worsted yarn ana cloC1
orc steadily rising. WOolen cloth anu
90 90 Tn are not so active as the Worsteus'
SI,+ ct business in these is greater than
II was last month. Carpet yarns nave
hoen H. in exceptionally good deInanu'
and spinners are booked TO cdpaoioy
Co.. % as far ahead as they care 10 ac-
cont orders. Retail carpet ana rug
eaies have been very heavy, ana man man
Pc 0tsaS otrrers are sold up for the present
season. They, too, report some scaL-
SS+-, If skilled labor and increases III |
.lo,os onoy AS a result of the higher cost
" labor and of raw materials Quo-
a+ione nm finished carpets ana rugs
&c also been increased. The adVance
ls ls''o Trice throughout the woolen anu
u o,is+od p+eG industries is, in large meas
~ W. % SoOT ~ result of the continued strengCh
q q q az raw wool market. Stocks oil co
y ,los4io FL wools are very light, IN 1act
: iobter than they were Del0Ie .lro
- ..o-1eT,ant e,1eT of the last clip torelsn
ooIs ~ however, are being recelVeu IL
y toCts' I!'-,19 1aTge quantities. improvement
al al y ,o11rred in the demand for sew
laS .ao1 lines of hosiery, and underwear
'lal ta,IJ cturers report increased puy-
NO nss Of light weight goods Ior ,1los ne11
nTing. Heavy weights IoT ~, ruo ~ NO