The producers news. [volume] (Plentywood, Mont.) 1918-1937, 1924-06-20


pres that only yesterday was tellin
the country that business was ON tn
upgrade is changing its tone in pre
paratlon Tor a serious turn for tn
worse. In the columns of the authori
tive financial journals there is Mai
talk about the development eff an IN
tense economic depression. An ey
ANIMATION OF these journals reveal
the following significant opinions an
facts shedding light en- the present eco
nOmic situation:
COMMERCIAL AND
FINANCIAL CHRONICLE
SAID the Commercial and Financia
Chronicle in its last review off III,
state of trade:
1t must be confessed that sucb
key industries as the iron and
steer business are Ia anything but
gratifying state. Enrichment is
gong ON IN pig iron and steel,
though IN steel on not quite so
marked scale as heretofore.
still, the output of that big in
austry IS now on the average
down TO about s. per cent. That
IS considerable fall within a
month Of 20 to 30 per cent. The
textile industries are also de-
pressed, whether in cotton or
wool. There is considerable I'M
employment In New England for
this reason, also ct the South
Fall Rivers trade in Print cloths
this week, down to about $4,000
pIeyes, is the smallest for MANY
months past. Some of the New
York rug and knitting mills have
cut wages 10 per cent.
Taking business rs a whole,
prices have been declining with
buyers still holding off, as usual
in declining markets. Freight
traffic. tho higher than the aver
age for this time Of the year, is
below that Of year ago. There
IS less business in shoes.
AT Utica, New York, several
knitting mills had cut wages five
to ten per cent. At Worcester.
Mass, The Whittall Mills, making
carpets, reduced wages ten per
cent to take effect at once.
The State Board of Coalition
and Arbitration (Mass.) an
Of abuOt 20 Der cent in wages of
The stichers employed in 80 Lynn
shoe factories. Decisions are
expected soon on other depart
ments of the shoe industry at
Lynn"
BUNS
REVIEW
Dun's Review in it's latest issue
ummed Up the present economic SIT
alton as follows:
With future orders unusually
moderate, operating schedule at
various mills and factories are
being lowered, with a consequent
decrease in employment of labor
and working hours and some
wages reductions have tended
further to diminish the Duhlic
buying power. As spring trade
has been backward because of the
Late season, and freight traffic.
tho still above the average for
this period, shows smaller move
ment than that of year AGO.
some other statistical COMPARE
sons. such as building permits.
untitled steel tonnage, and cotton
consumption, are also less favor
able.
Permits for new construction
issued 81 lO7 cities of the United
states involve an estimated ex-
Penditure smaller by fully 80 1-3
per cent than that of March and
y per cent below the amount for
April in 1923. Compared with
the totals Of a year ago. nearly
all of the reduction last month
occurred outside of New England
ana Western sections. Marked
decreases developed at some of
me larger centers, notably ct
CnicagO, and the months statis-
TICS confirm the report of a sIac-
kenlng Of the activity in the
building industry.
Curtailment of steel OutDut
was less marked this week but
was sufficient to bring the rate of
operation for the whole industry
down to about 65 per cent. This
contrasts sharply with the aver
age OF nearly 80 per cent renort- !
cd to the end of March. Now
buying has been light in about
ell departments, demand even 9
for structural steel being less
and the decrease of $1,000 TONS
IN the steel corporations untitled I
orders was larger than had been I
generally expected. The amoumt :
lf unfinished business is 700 O00 \ \
IONS below that Of Februarv, the Il
aIghest point of this year. and Is
5.OOO,OO0 tons under the total Of q
year ago. d Il
In April for the third consec- I
tive month. domestic cotton CON
umptIOn decreased, being 400 n
10 bales. This is about 3 9O0 n
'ales less than have the March n
,akings and is $500 bales below pI
ne amount reported for ARr;I /,
5z5. Not only was last months Re-
09nsumptlOn smaller, but exDOrts on
$50 IeIl OF, tOtaling 32O.774 tn
ales. Compared with the March rs
nlpments, this is increase of On
400 bales and marks the low &c
st point reached since last Aug- OF
ST. when only pa, 400 bales were pa
> poI tea IN
CHEFS Gle
VIEW en-
I the last issue eff Bache's Review y y