Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1923-04-02
n. E. INDUSTRIES
and BUSINESS AT
HIGH Level IN MARCH

Boston. April lin spite Of 4 rail-
road embargo and general freight
congestion throughout the greater
part of the district, business activity
throughout New England remained
at approximately the same high level
in March as in February, according
to he detailed monthly review of the
Federal Reserve Bank of Boston,
made public tonight. j..
1nasmuch as many New England
manufacturing concerns use iron and
steel products as their raw mater
lals, the embargo on these materials
has had the effect in some cases, of
curtailing operations until the nee
essary shipments can be obtained"
the review says. "A symptom of the
large volume of business now being
done in spite of these obstacles is
the growing number of wage in
creases announced during the month
among some of New England's most
representative industries. Further
more, even where no increases have
occurred the weekly earnings of most
workers ere larger now than a few
months ago, due to the almost uni
versal increase in the number of
working hours"
The rate of manufacturing activity
in the chief New England industries
during February was placed by the
review at approximately one per
cent greater than during January.
with output at approximately "a
per cent of the postwar peak of
production. Production in the United
States as whole during the month
was at the same rate as during Janu-
airy. with output Il per cent above
the 1919 average.
Nevertheless" the review con-
tinues, whereas 80 per cent of the
manufacturers in Massachusetts re-
porting to the State Department Of
Labor and industries were Operat-
ing on a full time basis, with over
time lore in evidence than during
January. only "a per cent of all the
concerns in the United States re-
porting to the Bureau of Labor sta
tistics were on full lime schedules,
IA per cent. on part time and per
cent entirely idle. -
OF individual industries the review
says:
"By a vote of the operatives in
Fall River on March, 25, the threat
of an immediate strike which has
been hanging over the cotton indus
try for some time, was definitely
postponed until April 20. Spindles
in New England were operated at
"a per cent of single shift capacity
during the month. Those in the
country as a whole, were operated
ten per cent overtime.
activity in the WOODEN and wors-
ted industry of New England declin-
ed slightly durin- February as COM
pared with January. Nevertheless:
during the month only per cent or
the reporting manufacturers were
operating part time. with machin-
erv operated at approximately W
per cent of single shift capacity.
Concluding. "a summary OF the
building situation in New England
tie review says:
"The more immediate building
situation hinges on the possibility
that the acute deficit of 1920 IN
residential construction has not yet
been met and. accordingly. that
residential construction can be mann
tanned at approximately the, same
rate as in the latter part OF lSz2: or
that any decline here may be onSet
in other lines: and both this ana tne
!, thine outlook in turn, are de-
nended upon the attitude OF pros
pectiyo builders toward the build
mo nricc structure and the probabie
investment value of new ocnstruc-
ton, both at present ana over d
term of years"