Evening star., 1924-02-09

Special Dispatch to The Star
BABSON PARK, Fla, February g.
New York shows "A gain of per cent,
New Jersey s per cent, Maryland ) per
cent. Pennsylvania 4 loss of per cent,
Virginia 4 loss of per cent and West
Virginia no change in business condi-
tons as compared with year ago.
Conditions in the middle Atlantic
states as Il whole are fairly good. AT
the moment Pennsylvania is slightly
weak. showing similar recessions to
those which appeared in New York sew
cral months ago. The downward drift
in these two states is due largely to
the fact that q large part OF the value
of their products are manufactures. In
Pennsylvania, for example, manufac-
lures represent SO per cent of produc-
tiou. Though New York has shown a
tendency toward improvement. the per-
centage gain of general business over
the corresponding period a year ago is
relatively slight.
Here we have a distinctly industrial
state, the value of manufactures con-
Stituting about SO per cent of the total
value of products of New York. More
over. of this total SO per cent is con-
centrated i'll New. York city. This ex-
IRENE concentration is an unfortunate
situation for all interests concerned.
Furthermore, with the wonderful Mo-
hawk Valley, with water power at the
north and coal mines toward the south,
there is no excuse for such a crowded
manufacturing situation in New York
city. Shipping, commerce and the job
bling interests must concentrate at the
port. There is no good reason why fac
tories should not spread out into more
rural sections where living conditions
are better, power is plentiful and costs
are lower.
Business Is Slowing Down.
Twelve months ago business was
1antic States and slowly in the rest
of the country. At the moment We
find exactly the opposite conditions.
The middle Atlantic district is slow
ing down, while several of the other
regions are picking up. Admitting
that the situation may be only tenn
porary, it is interesting to note its
Significance. For while, at least.
other regions have taken the lead
and this certainly suggests watch
sometimes preceded a recession. 1t
is especially interesting to notice
. that this tendency toward recession
in the middle Atlantic group was
decline in New York city business.
The logical result of this dip in New
York city was a reaction in sur
rounding localities. The latest move
ments in New York City business
show occasional upward swings, but
they are not as yet sufficiently pro-
nounced to indicate whether any i'm
portant turn has been reached.
When the entire region is ex-
amined it is still possible to find
many localities which are holding up
fairly well. For example, business
opportunities should still be found
in Elmira. n. Y; Rochester, n. Y;
Passaic, \. J.; Hagerstown, Md, and
Wilmington. Del.
Active efforts are being made to
secure improvement for the fort of
Oswego, together with deepening of
the Hudson river route, so that the
capital district around Albany may
become more of an inland port.
Richmond Trade Good.
Sales of wholesale houses are hold
ing up fairly well compared with the
. corresponding period year ago. This
is noticeable in the case of hard
ware in the New York district and
groceries in the Richmond district, to
cite a specific example.
On the other hand, we should not
overlook the soft coal fields as the