The times-news. [volume] (Hendersonville, N.C.) 1927-current, 1937-01-06

TOPS '29LEVEL
ASYEAR ENDS
December PayroHs High
er; lngot Production
Rises
BY EDWARD J. LAELY, JR.
United Press Staff Correspondent

PITTSBURGH, Jan. 6. (UP).
The part of the country that is
frequently referred to as "the
workshop Of the world" moved out
of 1886 on the surge of an almost
unprecedented era of prosperity.
Prosperity for the Pittsburgh
district reflected, more than any
thing else, good times in the steel
industry. And December, 1886.
was notable because:
Approximately $4,000 pcrsnos
were employed in the same area in
1929, the so.called "boom' period.
December ingot production was
heavier than in any peacc-time
month in history, ranging between
rs and 80 per cent.
Christmas pay for steelworkers
was more than $9.000,000, highest
on record.
PAYROLLS AT NEW HIGH
Monthly steel mill payroll was
approximately $l7,000,O0O, high
est in II years.
Pay envelopes to SteelworkerS
carried SO to $50 more weekly
than two months ago. That re-
suited from the wage increases
granted by steel companies, in
most cases averaging 10 per cent,
which became effective Nov. lG.
Accumulation of orders has be-
come so great that in many cases
shipments have been delayed.
RELIEF BURDEN LIGHTER
Steel being the mainstay of
Pittsburgh district industrial life.
its Improvement was carried into
all other businesses. The relief
burden lightened. More workers
occupied offices and factories of
industries dependent upon steel.
Plant extensions and improve
mcnts were started, putting new
life in the construction field,
which had been tagging. More
shoppers filled downtown stores.
The stores hired thousands Of cx-
ira helpers. The cycle was COM
plcted. The Christmas payroll in
the Pittsburgh industrial district
was about $75,000,000.
Included in the "big pay" were
innumerablc Christmas bonuses
revival of n custom that had been
mostly dormant for six or seven
years. Among the larger COM
panies distributing bonuses to
their employees was the Westing-
house Electric and Manufacturing
company. which presented extra
checks TO its $4,000 workers.
EXTRA DIVIDENDS
DECLARED
In addition. thousands OF dol
lars went out to stockholders in
dividends and extra dividends.
These huge dividend payments
were induced partly by high prof
its and by the desire by many
companies to escape heavy pay
mcnts to the federal government
in the recently enacted corpora
ton tax. .,
Plump dividends were declared
by the U. S. Steel corporation,
Westinghouse Electric. Westing.
house Air Brake, National Steel
corporation, Jones and Laughlin
Steel, Aluminium Company of
America, United Engineering,
Blaw-Knox. Electric Products,
Nest Machine company, Plymouth
Oil, Gulf Oil, Coppcrweld Steel,
Kaufmann's Stores, and many
others.
STORE SALES UP rs PCT.
The payroll indcv Of the Pitts
burgh Bureau Of Business Re-
search rose 20 per cent in 1886,
excluding the late weeks Of Dc
ccmbcr. Department store sales
in Pittsburgh in November aver
aged 25 per cent high5e than No
vcmber of 1885 and the differ
cncc was expected to be even
greater when the figures for De-
cembcr arc compiled.
The General pickup in 1896 was
even more remarkable, when 1t Is
remembered that business was
paralyzcd here for several days
and slowed down for many weeks
as result Of the disastrous st.
Patrick's day flood. The waters Of
the Ohio. Allcrhcny and Monon-
gahcla rivers convergcd on the
Pittsburgh Golden Triangle
caused millions Of dollars damage.