The Waterbury Democrat., 1941-08-28
Business Expects Still Greater
 Changes In Industrial Pattern

cd their normal business already or threatens soon to affect it.
 This is serious enough, but there Is stu more serious consequence in actual and threatened uneInploy- ment of workers affected. The dis- locations are already beginning to affect employment adversely in non- defense sectors of industry.
 "A large majority of the n1anu- lecturers who find their normal business restricted or threatened be- lieve that some unemployment is al- so on the way; and in few in stances the unemployment has all ready arrived Those who have ob- served such unemployrnen feel that by no means all the workers thus displayed can readily be reabsorbed in the same business or locality. And the number of workers who might be so affected is not in the tens of thousands. It is of the. order of many hundreds of thousands. Volume Up S1.J%
 "volume, of course, is up with U4sa UCA CCAAt Ok bAAG .CACVAbAfC0 OSt&S mating that the gross dollar volume done by their corporations in 1941 will be above the average for the last three years. Nearly two out of three of the executives also find employment and net profit before taxes are above recent. averages.
 Even these in finance have felt the surge in special demands for financing. And most railroad exeeu- tives believe they can hurdle the fall traffic peak, but third of the utility men report that their systems are now at or approaching capacity.
 'aTfe dislocations are also allowing small concerns to complete more freely with large concerns" Fortune states in summarizing the Forum re- suits which show that 76.8 per cent of the business being done, by com- panies employing more than 25,00O workers Is on government orders. "A sixth of the larger manufacturers realize that they have already lost business to competitors because of their own preoccupation with war work. Conversely, some of the SmalI- CT manufacturers are already aware that they are taking business away from competitors now occupied with war work.
 "A fifth to a quarter of the man. ufacturing, railroad, and utility ex- ecutives also report forced cuts in normal repairs and additions due to material shortages, and 8 clear majority of those so reporting feel sure that this would be serious If Fallowed to go unremedied for an- other year.
 See No Danger Of Imitation
 Finance executives do not see much danger of runaway infla- tion. Half of them believe present controls are adequate to prevent serious price distortions, but two- fifths fear that price changes will be big enough to do damage
 For price fixing there are sub- stantial minorities, but 8 clear ma jDrity of all groups, except mer- chants would like to see wages fixed and a majority of the manufacturers would willingly freeze raw material lprices.
 "On the familiar guns-or- -buttei Argument the executives lean towarc curtailnent of consumer demands . bare majority of the nerchanti dissenting. But two-fifths of thu executives set themselves down a! lexpansionists s-guns-and-butter men Utility and railroad officers are not. ably antiexpansionist.
 While majority of the railroad CTS think they can handle any oil traffic likely to be diverted from tankers, most of the diSsenters a. mong them would rather see motor ists go short than have pipe lines laid.
 Utility men want to spread use more evenly through the 24 hours, and they want to undertake the ticklish job of selling such changes to the public themselves.
 Most of the financiers also feel they are handling their part in de- fense without need for government intervention, a proposition with which their customers, the industri- alists, agree"