Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1923-03-02
Stress Connection
CONTINUED from Pace ons

tries not running on full lin,
present, while many are startu
overtime.
There probably has been q,
building up OF manufacturer rs
in New England in recent ve.h
view Of the large amount Of
duction colncident with a fallit,
in shipments. as represented b.
loadings. While car loadnn !
country over are larger than q
were year ago. those for Y
England fell below those OF the a
vious year shortly after Christi
on account OF congestion cause.
heavy snowfall. and remained
low for four weeks"
Discussing the upward trsa.
commodity prices in FebSuary !
review says:
There are some instance.
premiums over the regular "a
being paid for quick deliw
This may be a temporary os
ton. caused by the trafic d.
mentioned above and under.
Delays mentioned above and
der those circumstances wouk
merely another indication ola
rate of business activity. II
use of premiums grows. hovt
as it did in 1920 when there VI
similar congestion OF trafhc
it cannot be considered sC
entirely healthy business. BIT
the most part there Is a pm
worthy disinclination 10 allow
miums to enter into the siiEi1
with the accompanying dangv
creating n runaway market
Bad weather has undoufs
prevented considerable shofgH
New England this winter. M
view continues. January sile
New England department
were slightly larger than
ago. "but. this was due in par
slightly increased retail prices
also to the normal growth o.
stores"
With reference TO the recent iu'r
in the rediscount rate OF the i~
Reserve Bank Of Boston. the ~
says:
Banking conditions are rthta
the effects of the interplay bctwsi
high volume Of manufactures
gestion of shipments. and
prices. Banks in this district hsN
called upon for more credit. resi-
in an increase in the loans OF nt
eral Reserve Bank of Boston
member banks as well as causihs
selling of their securities. Commf
money rates stiffcned somewhN
ing the carly part OF February
the result that they were
higher than the rediscount rate
Federal Reserve Bank OF bosua
this rate on February % was incN.
for the first time since tne W
depression. being raised irom
cent. to ~ per cent. ,,x a
"arc signs of large volume 9.
moss and. in fact. for an incrs
amount. but they do not give W." ~,
dication Of what to expect 'n '"
ture." .Mv
Semi-annual returns from wv
England savings banks ana 80
departments of trust compa.s nj d
tional banks show a grown y" S,ns
in the amount OF saving n,srd
but also i'm the number ana a'e' r.fa
of accounts in eacn NC"
state during 1922. .,-sssu.I
Production among la mansY
New England boot ana snye ;ncrss
turers reporting TO the DAM S,r;nf u
between 80 and 80 per cen. .;nS dses,
uary. While forward ordeISly u
during January. consiusd srs On "
than is usually the case; o suy
at the beginning OF fep nam hos
fully GO per cent. mose TIA"
a year ago. H., N.w EnGi2
Cotton consumption IN N ,nec~ressa
during January. WHEN IVA wss NJ
per cent. from Decemper. Inly.
than in any month since ,,ns a.,
Based on IS average . nnsratn
S.37 hours. spindles were .Yirsle q
about 90 per cent. OF thS Mace
capacity Of all spindles ~ 10 W
reporting wool manuiactu...rs ran On
achusetts during Januatcy q. ner cesl
time, as compared WIN In NoF9
December and 81 per ce"''
Der. q, emplcys
The largest increases II 1. mar
in New England durlns ,Ss asschpx
in the metal trades. IN s",sctriesl
the machine. tool and aes opsnt
chinery manufacturers wei On per
on full tine. while above : nv mo-
of the reporting foundries v t Ise
shops and producers OF te"
cry ran full time. - contract
The value Of building TToonasr!
in New England during '.nsn h
about 0 per cent. higher ., . ~
cember ana ~ per cent. mo''
January, 1929. .svs o.
During the first three VETS css svt
ruary the value Of contracisS. rirf
,vas el;0htly higher than JUL