The daily worker. [volume] (Chicago, Ill.) 1924-1958, 1924-03-08

I.
The great economic nrosr.r;t,
~. n.cn started in 1922 reached II,
ign point about May, 1923. IN NAM
fnespects this prosperity shows recor5
nsres IN the expansion Of mean.
u production and in volume of nro,
Snoa eion. But from the middle n
80 We see a constant, gradual ao-
gravatlon of the economic sit,,a+;os,,
nnree figures illustrate hest of III III
s2e great change. The month"; M a.
niled orders of the Steel Corner ;o,,
reacned their peak in March 1909
win 1.4O million tons. IN Decer,'
per 1873, only 4.44 million. wbich !.
Mo ueciin nee OF about 40 per cent. The
way: 1923, average daily output of
PIG ron was 124,764 tons. In Ia
cemoer, 1928, 94,225, which means.
d oeciine of almost rs per cent. And
. .nlrd figure is the average decline
OF 10 per cent on the stock exchange
N sne second half of 1923. The iron
ana steel industry reports showad = |
decrease of full time operation f ~
~ per cent in May to sc ner cant cont
IN october, to So per cent in Novon,s
per and to 81 per cent in Dacen,-
per. In December only 4 third nF
the full time operating astabI;sL
n;t.r were utilizing their full capa-
lily. Exports of iron and steel were
ru.n, UNI, on an average Of about five
lnllilon tons year (for about s;r
years, until early in 1921: exnorts
u IRON and steel in 1923 fell ! few
tons. - IVY miihon
Slump In Mining Production.
Coal mining is in a catastrorh;o
condition. DR.. Honnold, statistieis.-
u; D algsl nsl.sIared that 'the No
'ember demand so far has dropped
g per cent below that Of last year.
t means a slump of about 80 per
ent in production in both the Illi-
lois and Indiana fields. At least ~
mines in Illinois with a potential
laily capacity of 100000 tons and
- in Indiana with $4,000 tons have
,een closed or abandoned since jan
larry /. OF the mines still active
It least rs per cent are operating
lpon only 40 per cent Of normal
ime. The situation is occasioned
iolely thru lack of demand. Every
lay scores of cars are loaded at the
mines and left standing on switch
racks. More mines have been closed
n Illinois during the last six months
han at any previous period in the
history Of mining in the state"
The total value of building under
aiken in December, 1923, fell by A
per cent below November. =
The textile industry is almost :
completely paralyzed thru the de- :
The number of active cot !
on spindles in December was about :
100000 less than a year ago and I
ell over 100000 in November alone. i
n Massachusetts, the center of the 7
;extile industry the December report =
If the Department of Labor shows :
/ majority of the establishments on !
/ part capacity basis. Dun's jan o
lary 5, 1924, review said: Z
"Curtailment of production is con- +
.inuing in many cotton, wool and /
nix goods centers i. In cotton :
goods this tendency is expected to !
Shoe Industry Decline. i
In the shoe industry the Massa- e
,husetts December report shows that ?
,nly "a per cent of the leather shoe f
were operating at full t
In Haverhill, shoe town, I
n November and December, 80 per h
,ent Of the workers have been laid v
IF and only 5 out of 81 establish t
nents are operating full time and t
FulI capacity. In Lynn, only 6 Of C
ne S2 shoe establishment report g
normal operations. t
The December report Of the a
,artment of Labor of the Uniteu g
States showed that not less than 23 6
Der cent of the industrial establish s
nents reported part time operation n
ind per cent were entirely closed o
Town. And in addition to that one e
bird of the establishments reporting III