Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1924-10-01
Upward Trend Slow But Ger
tain-Woolen Industry Pro-
nouncedH Better-SeasOnal
Growth in Production Boots
and Shoes-Cotton Trade
Bit Uncertain bu. Sharing in
General Improvement

Boston. Sept. 30.-Continued i'm
provement in New England business
with employment in Massachusetts
increasing for the second time in
a year and a half is reported by
the Federal Reserve Bank of Boston
in the monthly review of industrial
| and financial conditions made public
today. The wooden industry is inn
proving to an unusual degree, the
report said, boot and shoe produc-
ton show seasonal growth, and the
cotton industry although still unset
tied, shares in the general improve
ment.
New England business continues
to improve" the report says. THE
upward trend is not rapid, to be
sure, but there is no doubt that the
general movement is upward and not
downward. Conditions are irregular
and some industries still report poor
er trade. The majority, however.
have obtained more business and are
no longer planning on further cur
! tallment in production, but, on the
contrary, are revising their sched-
ules upward.
"One of the most encouraging i'm
provements is that in the employ
ment situation, though here again
the change has not been very extern
sive nor predominatingly general.
Nevertheless, the number of persons
employed in representative establish
ments iE Massa chusetts during Au-
gust showed an increase over the
previous month. This is the first in
dication of an increase in employ
ment in Massachusetts with one ex-
ception. since March last year.
1T is only natural that, with a
| larger number of persons employed
! production should also be greater.
| According to a preliminary report
from the wooden industry of New
England. wooden consumption dur
ing August was approximately 80 per
cent. greater than in July. This is
an unusually large increase in any
one month.
Output of boots and shoes by New
England manufacturers was greater
in August than in the previous
month. Although a seasonal increase
is expected at this time of year in
the shoe industry it is nevertheless
encouraging under existing circum-
stances to note that 1T has occurred
to approximately the usual extent.
1.-The cotton textile industry has
been one of the most depressed of
any, and due partly to considerable
uncertainty regarding the ultimate
size of the cotton crop, it remains
in a somewhat unsettled condition.
Nevertheless the consumption of cot
ton by New England textile mills
in July was larger than In June,
and in August was larger than III
July. Production in these three
leading industries of New England
has. therefore. had positive results
from the general business improve
ment.
Retail trade has not yet shared
the Improvement which most man
ufacturing industries have expert
enced. This may be because of the
cumulative effect of so much unem-
ployment and part time working
schedules. Sales in leading depart
ment stores of New England have
not been as large in the past few
months as they were in correspond
ing months last year.
I'm spite of the present dizziness
in business activity there has actual
~ been a sharp reduction in the
number of failures of the district
during July, August and the early
part of September. The total during
August was the lowest in any month
so far this year"