Evening star., 1923-03-31
ADVANCE IN WAGES
BOOMING BUSINESS
Retail Sales Beating All Past
Records--BoII WeeyiI
Danger Lessened.
BY J. O. RoYLE.
Special Dispatch to The Star

special Dispatch to The Star.
NEW YORK. March sl.-waxe-
earners already are discountins the
increase In wages that they have re-
.et.eu or expect to receive. That fact
III large measure accounts for the tre-
ihehoous business done by the retail
stores In the last two weeks Most OF
ene wage advances do not become ef-
iective until April 80, yet the buying
oh tne basis OF the increase has
e"eiied sales totals Of retail stores to
iisures hitherto unprecedented in
many OF the clothing and dry goods
lines.
ihat tendency. however, has not been
an economic detrinent. FOR the in
grease in the total amount OF savings
ttep9slts throughout the banks Of the
hns hmeiVe FEDERAL reserve districts has
doubt about the ability OF the great
bills. " setue eieii
hcfeases Dominant Factor.
wage increases have been the domf-
Hl FACTOR in business situation of
ne present week and the tendency
~ a,u hlgher schedules of pay has
vances have been most prominent in
1ne textile trades. Mills making both
Wooien and cotton cloths have vol
hts h.ssiiy announced raises in wages
potn In the closely organized New
england districts and the soutk.
factor. 70 uoihiiioHt
further stabilization Is forecast as
ssuiI or the meeting Of members
1on and the Textile Council al Fall
RIVER next Monday This meeting
was not scheduled until April 20. but
.he advancement of the date was
anaae on suggestion Of the employers
anu can mean only one thing, a will
lngness to negotiate a scale com
tnensurate with the increases named
oy some OF the larger mills on their
own initiative
competition for Textile Labor.
g.. active competition for labor now
10 IN progress between the northern
gnu southern textile manufacturers
Yearly every manufacturer could
employ more workers than now are
on the roll. But the danger OF the
situation lies IN the extent to which
mags earners have. discounted their
positions The saving factor in the
situation is the fact that higher
prices. inevitable under increases of
lanor and materials costs, have slim
uIated buying rather than retarded It,
Demand in the steel industry has
raised expectations to the pitch of
expectancy of higher dividends Any
dividend increase cannot fail to be
followed by a demand for a further
Increase in wages. This might be
dangerous situation. but for the fact
that while wages have increased in
the industry Individual efficiency in
the mills and furnaces has risen at
an even greater rate, and, barring
unforeseen contingencies, may be
counted on to maintain profits even
with a minimum of price increases.
Manufacturers Taking Wool.
Wool is stronger than 1t has been
for months. Carpet mills are crying
for their special grades and the
formal openings of floor covering
Increase in prices next week. The
weakness evident a fortnight ago has
been eliminated. and it is evident that
manufacturers will take clothing
woods on any recessions from current
quotations.
silk has slumped. This has been
due in some measure to the bank
ruptcy proceedings involving one
prominent firm, but II Is to be noted
that this firm handled only staple
lines
Boil Weevil Danger Lessened.
In cotton 1t Is the opinion OF ex-
perts that the last spell Of severe
weather killed many weevils and may
be of lasting benefit to the 1923 crop
Potatoes face a decided drop in prices
unless the present stocks have dete-
rtorated to such an extent that they
are not marketable.
Experts are expecting a decided ad-
vance in the price Of automobiles over
next Sunday, but manufacturers are
holding their price lists in strictest
secrecy.
Copyright, 1881