Milford chronicle., 1923-07-06
THE BUSINESS CONDITIONS of the country as

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THE BUSINESS CONDITIONS of the country as re
ported by the Federal Philadelphia this
week will be interesting those who study the business
outook-especaly that part of the country embraced
the Third District of the United States, of which
Philadelphia is the The following summary will
briefly clearly convey general understanding of ac
tual business conditions during June 1t says
Further reductions in wholesale commodity prices
somewhat easier supply labor certain industries and
continuation lu buying have been the outsand-
of the past month In many lines the present
period usually dull and therefore the decrease in
sales should cause no surprise. Practically all textiles
poor request, and little future business is be-
ing obtained Indeed, not a few cancellations have been
received especially in wooen and worsed goods hosiery
and underwear Certain textile manufacturers moreover
have requests to postpone shipments The
leather and paper industries report decreased business
during May and early june but the volume is still OF fair
PROPORTIONS similar situation prevails among printers
Building permits issued in this district have decreased
and the demand building materials is noceaby less
than it was a month ago, although operations in many
cases are going ahead despite rising COSTS Iron and steel
products are selling well as they were and bltum-
nous coal and coke are moving slowly Domestic sizes
of anthracite however, continue in excellent demand In
summarizing may said that although orders are OF
smaller volume prompt delivery business is tar
from being poor and feeling of optimism Is apparent
The opinion generally expressed that the present u is
favorable for sound business and firms are making
plans active buying movement in the late sum-
early fall
With the exception of textile plants, many of which
are operating on reduced schedules production continues
at high rate and the output basic commodities
such as pig ron ngots, and petroleum, has made
new records Although the scarcity of labor is still great
in certain industries, there is somewhat easier condition
in many lines The decreased operating schedules in tex
tile plants have reduced labor requirements to some extent
and the shortage in other industries is not acute al
though undoubtedly men could be used' especlay
in the iron and plants Advances in wages are su
numerous and our of weekly wages IN ths
district has increased sharply That unemployment is at
minimum is indicated by reports from five OF the prnc
nal cities in this district estimating that only slightly over
1000 persons are of work This is the lowest hgure
since employment records were started at the beginning OF
1921
That consumption is still heavy is indicated by re-
norris of wholesalers and retailers in this district All
of the wholesale lines reporting showed increased
sales owed those of both last month and year ago. he
tail sales in May, despite the unreasonable Weather were
M larger proportions than May 1922 and late reports IN
dictate that warmer weather has served TO lnduce more az
tive rcbasing Further evidence of the heavy consump-
on of goods is reflected the light or moderate STOCKS
that are being carried in most industries altnous "
true that in many stocks are increasing
too has been at high rate Car loadlngs uuIne 'e ~
week in Nav exceeded 100000 for the seventh time since
eros have been available The week was notable Fl
also in that for first time since last SEPTEMBER e[
was surplus of This is an eloquent tesumonla Oh
the progress made by the railroads in getting tne Tos
stock in condition o.
Marked reductions wholesale prices during May are
.hovD 1, all of the well-known index numbers. Brad
streets declined from $136665 to $1SSSl; Duns dropped
f 600 o44 IN S91 414 and index of the Bureau OF
bor Statistics which been stationary for two months
at 59 fell to 156-the it was IN January For inc
first time in several months of the commodity groups
shown bv the Bureaus index advanced and all but two OF
the groups foods houseurnishng goods declined Inc
greatest decrease fuel and lighting which fell from
200 to 100. ja
Turning to broader aspects OF the present Dusl-
ness situation probably of the most striking phe
has been the expansion of imports and the
alling off in exports.
Beginning in March, will be noted imports were OF thu
reaer value exports for the first time since August
94 and the same condition continued during the next sI
o months Especially interesting in this connection is WI
he fact that during the ten months ending April SO near
60 per cent of our imports consisted of materials
nd of semnshed goods further in manuactur the
10 Less than 20 per cent manufactures ready for
The recent import balance has caused great
cal of discussion regarding the possibility of an outward
ovement gold. If such turn is to come in the near pa
there have been as yet indications of it, gold tive
npors have continued to be larger than exports gin
REPORTS from retail indicate that June sales
i'll show healthy gain those of June 1922 Though the
nsmers are exercising and demanding value they po
purchasing with considerable freedom and the articles
demand embrace practically all classes of merchandise
etaers report that they experiencing difficulty in
anng goods and that quotations higher than Uni
lev were month ago. In lines they offered our
ncessons in price, especially certain silk and cotton Tim
brics.
The period of prolonged drouth, which has continued
broken except for light showers since early in May cen
nearly all parts of this district has been distinctly who
nATC nADY Park and will snend