The Waterbury Democrat., 1931-11-02


 was made public to-day by J. Lewis Benton, general secretary of the association at the thirty sixth an- nual meeting at the Waldorf As- toria hotel
 This survey is a spot report of conditions as of the immediate present. Questionnaires were sent out to members on October 15, ask- ing for immediate returns, and when the tally was closed on Octo- Der 24, approximately 800 replies had been received, from companies in the following classifications: automobiles; automobile 'accessor- ies; building supplies; cement; chemicals; ceramics; clothing; electrical; farm products and food stuffs; furniture; glass, crockery and porcelain; hardware and tools; iron and steel; iron foundries and machine shops; jewelry; leather; lumber; machinery; metals; paints, oils and varnishes; paper and pulp; petroleum and products; rubber; stationery and printing; textiles and miscellaneous. The question: naire covered present and prospec- sons with last fall as to employ
 
 quantities and sales prices.
 While refiecting pointedly the period of slack business through which the country has been pass ing, the survey reveals many sig nificant factors indicating not only that the bottom of the industrial depression has been passed but that recovery is under way, slow fin gen. eral but quite active in numerous instances. Principal among these factors are:
 l. Inventories are at the lowest point they have been in years, some of the plants being complete ly cleared of products; giving strong evidence that as soon as general buying is resumed, these plants will be compelled to in- crease forces and push at top speed to hold their markets. Low and depleted stocks are reported by A per cent of the companies as against 26 per cent last year; nor nal by 48 per cent as against 67 per cent last year, and only per cent report overstocks as against IT per cent last year.
 2. Wages, on the one side, and production, sales and factory PEACC0S Ou thO OthCAp oAO" oS0AeA icantiy. In 54 per cent of the com- panies reporting. wages have held their own or have been slightly bettered. In the 46 per cent which have been compelled to reduce, the general average reduction has been about Is per cent. Decreased pro- duction is reported by 73 per cent; decreased sales by 75 per cent and decreased prices by 70 per cent and these various decreases strike a gneral average of approximately 40 per cent, or nearly three times that of the wage reductions.
 q. Employment shows a slight improvement over this time last wear. per cent of the reporting companies having increased their forces. as against only per cent last year; 31 per cent having held their same personnels as against ~ per cent last year; and 64 per cent having reduced forces as against 68 per cent last year.
 {. Better business than last Iaii was noted by per cent or the companies as against D per cent last year; IS per cent have neia tho same business as against IT per cent last year; and "A per cent TeDOTL lOWGL OdoAhNeS e~1
 per cent last year.
 Among the industries indicating the best state of present trade are automobile accessories, with If ner cent increase over last year chemicals, Il per cent; electrical, 18 per cent; leather, 27 per cent; paper and pulp, IA per cent; rup, her. 25 per cent; stationery ana printing, 8 per cent; textiles. IT per cent, and the miscellaneous, y
 A summary of the general aver ages of the replies to the question: naire, gives the following:
 Present trade was reported Iair to excellent by AS per cent ana poor by 52 per cent.
 Prospects for the winter were considered fair, godo or excellent by 5S per cent and DOT by 4z per cent. ., ,.. s.u was reported by per cent, un- changed by IS per cent ana iower by "A per cent. h,, A
 Low stocks were reported oy IT ner cent: normal by 4S per cent, with only 8 per cent notihs U" oversupply. r
 Al decrease in employment over last wear was reported by 64 per cent. with 31 per cent reportins no change, and per cent noting an increase. Obviously, none or the companies reported i-ny short age of labor, skilled or unskiiied' and there has been complete ao- sence of strikes. ,,.h
 The wage scale compared with last fall has remained the same or heen slightly bettered in. 54 per cent of the companies, while 4S per cent show decreases.
 Production shows a decrease among 73 per cent of the com panies. with IT per cent reporting the same and 10 per cent m
 Sales quantities show decreases in IS per cent of the companles, with IA per cent noting the same sales and Ii per cent showing an increase.
 cent, have decreased since iast Lal, and remained the same or slightly better in 30 per cent.
 Tifty-seven per cent of the com panies reporting carry group hle insurance and 10 per cent of them have some sort of plant pension system.
 tries affecting Waterbury are as
 Machinery-Present trade was reported good to fair by Al per cent, and poor by the rest. Winter prospects were regarded as good 1 to fair by 57 per cent and poor by the rest. Better business than last faii was the experience of per cent; unchanged by 16 per cent, ana lower of the balance. Inventories were reported as low by 30 per cent, normal by 66 per cent. ana heavy by the rest. An increase Tn employment since last fall was re- ported by per cent. with 2S per cent noting no change, and the rest A decrease. Wages were reported unchanged compared with last fall by 69 per cent. with the rest re- porting decreases. An increase m production over last fall was re- ,noy-tad hv rer cent unchanged by