The Waterbury Democrat., 1931-01-06
NEW ENGLAND INDUSTRY IN 1881
Cheerful View Expressed By Chairman Hook of In=
 duStrial Committee BETTER TIME IN SIGHT

Boston, Jan 6 - New England in dustry in 1881 may be depended up- on to contribute it's share toward re- establishment of economic stability, James w. Hook of New Haven, Conn chairman of the Industrial Commit tee of the New England Council, all- New England development OrganiZa- tion, declares in a statement issued at Council headquarters here to-day. Mir Hook is president of the GeOm- etric Tool Company of New Haven.
 Emphasizing methods being used by the most progressive New Eng land firms, Mir Hook declared that research. accurate market analysis and aggressive merchandising will contribute materially to business re- covery.
 'In New England the indications are that business recovery is gradu- ally beginning, with prospects that improvement will continue slowly throughout 1931.", Mir Hook de- clared that research, accurate mar ket analysis. and aggressive merch- andising will contribute materially to business recovery.
 Tn New England the indications are that business recovery is grad ually beginning with prospects that improvement vii continue slowly throughout 1931," MT Hook declares. "ProductiOn in some lines Is obvious ly at a slower pace than current con- sumption of those lines. In other lines, it is evident that d fair volume of goods, if measured by volume and lot money value, is passing into con sumption, and this is the more inn portant fact.
 Much buying has been deferred Consumers are doing without where ever possible and making old things serve longer. Savings accounts are increasing, proving that the work and save philosophy is again coming into play. Those who are begged down by installment purchase com mitments are gradually paying their debts. All of these things portend a buying physchology in the making How soon it will express itself in suf- ficient measure to turn the tide up- ward no one can say, but signs are not lacking that the turn is near at hand.
 This return to the work and save philosophy shows that the buy CTS sense of relative values has ad Nanced under the pressure of the times, to the end, perhaps, that more workers will be interested in the fu ture in writing their own unemploy- ment insurance and establishing their own old-age benefits by build ing up substantial savings accounts, and other reserves.
 Facing these conditions. manu- lecturers of consumer goods will feel the pressure to further reduce costs and improve their products to the end that greater values and lower prices can be offered. With commod- ity prices at their present low levels and no immediate prospects of their advancing, it Is probable that very substantial and perhaps painful ad- justment of prices lies ahead When this adjustment is made and so soon as its effects reach the ultimate con- sumer the basis for a new era of pros perity will have been laid.
 New England industry has re- sponded generally and generously to the cali to spread available useful work. and it's contribution to the maintenance of employment in New England merits recognition and high est praise. It is fair to assume that our employers will continue their ef- forts to provide employment for the maximum number possible through out the remainder of the winter TOT they recognize that steady employ ment is the basis of business stability and progress.
 "New England manufacturers are alert, also, to the economic and so- cial consequence of unmitigated un- employment, and will in all probabil- ity include in their programs for the next five to ten years plans and measures that will at least retard. If not actually prevent, it's recurrence. Through research. both economic and industrial, and through aggres- sive merchandising based on accur- rate market analysis. New England industry may be depended upon to attack all of it's problems with viz or and high purpose, and to contri- bute it's share towards the re-estab- lishment of economic stability"