Newspapers / The Daily Advance (Elizabeth … / Feb. 8, 1924, edition 1 / Page 3
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Business In Atlantic States Statistician** Investigation Shows Small Increase Over a Year Ago Rjr ROGER AV. HAIISON ? Copyrignt. 1924. by The Advancr Babson Park, Fla., Feb. 8. ? New York shows a gain of C per cent, New Jersey 8 per cent, Maryland 3 per cent, Pennsyl vania a loss of 3 per cent, Virginia a loss of 5 per cent and West Virginia no chaneg as compared with a y.ear auo. Conditions in the Middle At lantic states as a whole are fair ly good. At the moment, Penn sylvania is slightly weak show ing similar recessions to those which appeared in New York several months ago. M J''ei'lo.w"w,ard drlfl iu these two <lue largely to the fact that Sr I part ut tllc value Of their products arc manufactures. Iu J Ciiiisjlvaula. for example, man ufacturers represent S3 per cent ot production Though NeJ York has lueut" a,hte"d,ncv toward Improve ? . . Percentage of gain nr general business over the corres ?!vely engh, d ' "g0 " Here we hate a distinctively Indus, rla, state. ,he value S Z ufacturers constituting about 93 Per cent of the total vilue o? pro Vork- Moreover? of ted In * 59vper cent ls concentra ted in New York City. This ex treme concentatlon is an unfortu cerned p" Si' a" lntere?<? con cerned. Furthermore, with the wonderful Mohawk Valley with water power at the North aid coar mines toward the South there is no facM.H f?r,8UCh a """led man." factur'ng sltuatlo" In New York ? h i . . ,sh|PP'n?- commerce, and trate at .h"8 "lt,ere8U concen trate at the port. There is no good reason why factories should not spread out into- more rural sections ?where living- conditions aie better Cer " P'ent"Ul' WO CO.U a'? Twelve months ago business was' Ati?n?H l/aDid,y ,n ,he Middle Atlantic States and slowly in the rest of the country.; At the mo me1t.,We f,nd elac"y the opposite m?.rlA?n.8 , The Mlddle Atlantic District is slowing down. while several of the other regions are i picking up. Admitting that the' situation may be only temporary, it Is interesting to note Its signifi cance. Kor a while, at least, other, regions have taken the lead and this certainly suggests watchfulness. ! It Is a trend which has sometimes I preceded a recession. It is espe cially Interesting to notice that this tendency toward recession in the Middle Atlantic group was] foreshadowed a long while ago by a I decline |n New York City business. The logical result of this dip In New lork City was a reaction In sur rounding territories. The latest movement In New York City busl-j 1: show occasional upward swings, but they are not as yet suf ficiently pronounced to Indicate whether any Important turn has been reached. Some Localities Hold l*p Well When the entire region Is ex amined. It Is still possible to find many localities which are holding up fairly well. For example, bu siness opportunities should still be found in Elmlra. N. Y., Rochester N. Y? Passaic, N. J., Hagerstown, Md.. and Wilmington, Deleware. * Active efforts are being made to secure Improvement for the Port of Oswego, together with deepening of the Hudson lllver route, so that the capital district around Albany may become more ot an Inland port. Activities of thlB character may mean local sales opportunities and may help to offset quiet conditions In general business. Government economists who have been advoca ting pushing public work as an offset to dull business, may feel that a suitable occasion will appear this spring. That projects of a fundamental character are being Klven close thought by the Govern ment, was suggested by certain points In the President's message ou may recall that ho mentioned I he opening of our Inter-eoastal waterways, the development of power and navigation projects, the Importance of highways, and other really essential undertakings. in this particular group of states there are many places where such work of of H fundamental nature Is really desirable. Sales of wholesale houses are holding up fairly well compared with the corresponding period a year ?g<>. This is noticeable in the' case of hardware in the New York1 district and groceries in the Rich-' mond district, to cite a specific ex ample. | On the other hand, wo should not overlook the soft coal fields as the possible scenes of Industrial dlffl f.U'U? tl,l? Though the latest tendencies hav? been some what more favorable from a sale* standpoint, the labor outltrok is rather Important. rt ,irtM?V^ btPn #"l"'d wt>y N'pw York during recent months, and Pinn ?? inn!? at 1Prp,onl' Bre not making good a showing as many other | parts of the country. The luaiu reason is that New York- and Pennsylvania are so large ly industrial, as indicated by the statistics which 1 have already quoted. Experience shows* that "the Industrial areas of the XortTi^ , ea-t -4? re quick on the trigger. When business dips down (either a minor or a major movement > this is the first territory to slip. Therefore, in a period like the present, the inan uiacturing centers are working cau tiously. This is especially t*ipor-i | tant in view of increasing European I competition. For the time being, at least, many of these industrial localities can suffer further curtail ment and still have an advantage I over the farming, live stock and mining sections. There -is a differ ence, however, in manufacturing centers. Generally manufactur ing can be divided Into two groups. Consumption goods (such as boots land shoes) and basic materials such las lumber). Statistics show that consumption goods In general tend | to reach a high point or a low point I from three to six months in advance of the corresponding swing in the manufacture of basic materials, i For example, a peak in the manu facture of consumption goods oc I curred In Qctober 1919. A peak in the manufacture of basic mater-' | ials did not occur until three months later, in January. 1920. A point in the manufacture of con sumption goods occurred in Jan manufacture of basic materials did not occur until six months later, in July. 1*21. From a territorial standpoint, the , operation of this tendency is ex tr? mely important. The manufac ture of consumption poods is broad ly located In the industrial centers ? of the Northeast. Hence, these regions are early to advance and likewise early to decline, as the business curve swings up und down in its minor or major movements. On the other hand the manufacture ot basic materials is broadly loca ted in the South and Far West. Hence, these regions are late to advance and likewise late to decline. These regions are said to 'lag.* The further development of man ufacture in the South and Far West will eventually modify this 'lag,' but at present it is an important factor in !orecui>ting. . in summarizing the situation in this section, there are three rather interesting points. 1. Tin re will be but few wage advances during 1924 in New York, Pennsylvania, Deleware. New Jer sey, Maryland and the Virginias. Wage advances, of course, are a di-! rect and powerful stimulus to local; business. In fact, .'ome directors* of sales regard them as one of the most important guides to a locality's, buying power, especially if their | merchandise is of a kind that ap-; ppals particularly to the industrial' wage workers. During 1924 it will probably be difficult to find | many localities where wuges are be ing advanced. At best, they are likely to remain at about on a level and In many places moderate re ductions will probably be witnessed' Among the localities in which wage Increases of various amounts have recently cume to attention. there ran be listed Steelton. I'a.. Wilkes Harre. Pa.. Carbondale, Pa., Balti more. Mil.. Morgamcrwu. W. Va., Fairmont. W. Va., Binghamton. N. Y.. Syracuse. X. Y.. and Buffalo, X. V. 2. Any legislation resulting in a reduction of Federal Taxes should be beneficial to these North Atlan tic states which pay ? or rather col-! lect' ? about one-half the total tax-, va of th'- Government. Reduction of taxes would be a boom to prac tically ? .very type of locality. The j point which many overlook is the di ( Continued On Page Seven) g7rrrTf.i.llI I- III ItlilllliJlWMUiMulwmu l^ 'ilJIUIIIH 1 liill'fll ru PHONE 152 Albemarle Pharmacy THEY HAVE IT ' ' LET YOUR NEXT SUIT l?o a "HARRIS" Suit, the clothes of no com plaint. D. Walter Harris The City Tailor and Clothier <^k~xkkkk~xkk~x~xkk~x^~xk~x~x~x~x~x~x~x??x~x~x~x~x~x~x? jj Capital Stock $250,000 f Member Federal Reserve ;; HERTFORD COLUMBIA KLIZARETH CITY ! ! Dr. A. L. Pendleton, Pres. rieo. R. Little, Cashier. \ ? ? jJurney P. Hood, Vice- Pres. fl. C. Abbott, Vice- Pre*. ! ; : CAROLINA BANKING & TRUST COMPANY J : FRECKLES AND HIS FRIENDS It's No Fuji Being a Carpet BY BLOSSER v < &X ii5Jliii!JLji=ui=ii=ji=jt=it=ji=ji=jk=ji=ii=ii-ji-jisjBJiaisjiaiiai9ii!Jiajiii[Ui!]iuli][ii New High School Auditorium February 13th and 1 llh WOMAN'S CLUB PRESENTS THE Minstrel (50) FIFTY LOCAL TALENT ARTISTS ? ? (4) FOUR PROFESSIONAL ARTISTS SPECIAL SCENERY COSTUMES ORCHESTRA ELECTRICAL EFFECTS 1=1 1 Produced by PAULL d ARNOLD COMPANY IS SI BOSS??? 03? [il fil HI IHffll HI fill* f51 15lr51 rHirarSirairSl r=l 1=11=1 1=1 fSlmmrarmrHr: 1 GREAT REDUCTIONS | @ . * ? ? in ? ? $ <51 | Watches, Diamonds | | and Jewelry | | ? ALL THIS WEEK- AT | | H. C. BRIGHT CO. | i'r. Largest Jewelers In Eastern North Carolina .;?} ? I AFTER THIS WEEK I | THE 1 ! Auction Store Will Be Locutcd on Poindcxter Street, in llir Building Now Occupied l>v W. S. White & Co. i A Partial List of Building Material and Other Stock We Carry ROOFING OF ALL KINDS ? SHEET HOCK PLASTER BOARD Just received a new enr. TIRES, TUBES and TIRE ACCESSORIES, PAINTS, VARNISHES and STAINS. Nit jol> loo Iti^K to (live you a contract 011. Yours for service. Lei us figure with you. E. J. Cohoon & Co, Mu in mid Water Streets. PHONE 535 THE BEST PLACE TO BUY FURNITURE Both in Quality and Price Let Us Save You Money Qiuinn Furniture Co. Famo and Lebanon Belle Flour are ahuolnlrl/ flour, of qnaUltr oold by the leading Rror?r?. ? DMrlbnted Br ? A. F. TOXEY & COMPANY ~~ ' * _ WaMr Mm!
The Daily Advance (Elizabeth City, N.C.)
Standardized title groups preceding, succeeding, and alternate titles together.
Feb. 8, 1924, edition 1
3
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