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PER CENT OF MALE AND FEMALE ADULTS AND OF YOUNG PERSONS OF TOTAL NUMBER

EMPLOYED IN 87 INDUSTRIES, BY CLASSIFIED WEEKLY WAGES, 1899 AND 1900.

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From the above tables it appears that while the total number of employees was greater in 1900 than in 1899, there was a decrease in the number of young persons employed. Of the young people employed in 1899, more than one-half, 51.16 per cent, earned less than $5 weekly, while in 1900 but 48.17 per cent earned less than this amount, and in every wage class of young persons above $5, except in the one, "$20 or over," the per cent was larger in 1900 than in 1899. For adult males the

per cents for the three lowest wage classes are smaller in 1900 than in 1899, and 5 of the 7 remaining classes show correspondingly larger per cents for the later year. Adult females show the same shifting of per cents, those for the 4 lowest wage classes being smaller in 1900 than in 1899, while 4 of the remaining 6 are correspondingly greater. The same conditions necessarily appear in the per cent columns for the totals for the two years, the total number of employees earning less than $5 in 1900 being but little more than one-eighth the total employees, while in 1899 the number was almost exactly one-seventh.

Data are furnished for a comparison of the investments and operations of the three forms of management, i. e., private firms, corporations, and industrial combinations. The statistics appear in the following table:

STATISTICS OF ESTABLISHMENTS CONTROLLED BY PRIVATE FIRMS, BY CORPORATIONS,

AND BY INDUSTRIAL COMBINATIONS, 1900.

Items.

Private
firms.

Corpora-
tions.

Industrial

combinations.

Totals.

Number of establishments

3, 301
1, 260

84

Per cent of total establishments Capital invested

Per cent of total capital.

Average capital per establishment. Value of product.

Per cent of total product.

Average product per establishment.. Average number of employees.

Per cent of total employees

Average employees per establishment. Wages paid

Per cent of total wages.

Average wages paid per establishment
Average yearly earnings..
Average product per employee.
Average product per $1,000 capital..

4, 645
71.06
27.13

1.81

100.00 $95, 850, 027 $317, 234, 910 $43, 600, 311 $456, 685, 248 20.99 69.46

9.55

100.00 $29, 037 $251, 774 $519,051 $98, 318 $247, 118, 611 $481, 665, 384 $70, 569, 682 $799, 353, 677 30. 91 60.26

8.83

100.00 $74, 862 $382, 274 $840, 115 $172, 089 112, 013 245, 990 22, 938 380, 941 29.40 64. 58

6.02

100.00 34 195 273

82 $52,513, 347 $105, 716, 332 $9, 219,594 $167,449, 273 31.36 63.13

5.51 100.00 $15, 908 $83, 902 $109, 757 $36, 049

$468. 81 $429. 76 $401.94 $439.57 $2,206.16 $1, 958.07 $3,076.54 $2,098. 37 $2,578. 18 $1,518.32 $1,618.56 $1,750.34

It will be seen from the above presentation that while private firms control 71.06 per cent of the establishments, their investment represents but 20.99 per cent of the total capital reported for the 87 industries considered. Average capital, product, etc., per establishment for those controlled by private firms and for those under the other forms of management show the latter establishments to be several times larger. As to economy of production the usual claim is not altogether supported, the average product per $1,000 capital being much greater under private-firm management than under the other forms. The average product per employee, on the other hand, is greatest for the establishments controlled by industrial combinations, those under corporation control making the lowest return. Employees of private firms exceed in average yearly earnings the employees of the other classes, those of industrial combinations standing lowest.

Value of product, as the term has been heretofore used, has included not only the value of the work in the industries reporting, but also that original value which is represented by the cost of material. This item of cost of material has been deducted from the market value of the productions of the 9 principal industries, leaving a remainder which represents the value actually added by the processes of manufacture in the industries making report. This remainder is termed the industry product, and a division of the same is made showing the amount paid in wages and the amount remaining for profits and the so-called minor expenses, including freight, insurance, interest, salaries, commissions, etc. The table follows:

INDUSTRY PRODUCT, WAGES, AND PROFIT AND EXPENSES IN 9 SPECIFIED INDUS

TRIES, 1900.

Industries.

Industry
product.

Wages.

Per cent of indusIndustry product.

try product-
Profit and
minor ex

Devoted
Average
Per $1,000
penses.

to profit
Paid in
per em-

and miof capital. ployee. wages.

nor expenses.

Boots and shoes

$48, 222, 576 $27,476, 207 $20,746, 369 $1,805.00 $813.36 Carpetings

3,017, 796 1, 722, 180 1, 295, 616 460.98 654.76 Cotton goods

59, 332, 759 33, 453, 372 25, 879, 387 458.01 640.57 Leather

4,475, 704 2, 327, 200 2, 148,504 728. 58 927. 22 Machines and machinery . 32, 159, 786 16,416,828 15, 742, 958 787.97 Metals and metallic goods. 14, 448, 984

1,085.64

7,755, 689 6,693, 295 817.42 953. 41 Paper..

9, 005, 248 3,778, 900 5, 226, 348 445.40 1,011.14 Woolen goods

16, 103, 138 8,004, 814 8,098, 324 652. 66 808.72 Worsted goods.

12, 795, 778 5,459, 841 7,335, 937 808. 35 880.40

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The industry product per $1,000 of capital is greatest in the boot and shoe industry, being more than double that of the next highest industry and nearly four times as great as in carpetings, cotton goods, and paper. This last-named industry stands second in industry product per employee, being surpassed by machines and machinery only. In 6 of the 9 industries here shown the wage fund receives more than one-half the industry product.

STATE REPORTS ON BUILDING AND LOAN ASSOCIATIONS.

NEW YORK.

Annual Report of the Superintendent of Banks Relative to Building

and Loan and Cooperative Savings and Loan Associations, for the year ending December 31, 1900. F. D. Kilburn, Superintendent of Banks.

690 pp:

This report presents lists and statistics of 14 building-lot associations and 337 building and loan associations, together with an account of certain legal questions that have assumed prominence during the year. Some attention is given to the differences in methods and results of national and local associations, and to the workings of associations making use of the divided or second-mortgage plan. The laws governing these various classes of associations are published, with recommendations as to additional legislation.

Detailed tables show assets and liabilities, receipts and disbursements, plans, general condition, etc., of each association for the year 1900.

The following tables give the principal statistics in summary form. Of the 337 associations considered, 44 are national and 293 local in form of organization.

ASSETS AND LIABILITIES OF 337 ASSOCIATIONS FOR THE YEAR 1900.

Items.

National.

Local.

Total.

ASSETS.

Loans on bonds and mortgages
Loans on shares
Stocks and bonds.
Contracts for the sale of real estate
Real estate
Cash on hand and in bank.
Furniture and fixtures.
Installments due and unpaid
Interest, premium, fees, and fines due and unpaid
Other assets

Total

$13,669, 234 $29, 606, 315 $43, 275, 549 458, 562 969, 824 1, 428, 386

157 19, 400 19,557 464, 864 521, 608 986, 472 7, 244, 743 3, 190, 954 10, 435, 697 406, 589

1,575, 981 1,982, 570 46,080 37, 045 83, 125 74, 435 85, 175

159, 610 169, 950 156, 780 326, 730

619, 369 336, 672 956, 041 23, 153,983 36, 499, 754 59, 653, 737

LIABILITIES.

Due shareholders, stock payments credited.
Dividends credited.
Due shareholders, matured shares
Balance to be paid borrowers on mortgage loans
Mortgages assumed..
Borrowed money
Earnings undivided
Other liabilities

11, 140, 473 28, 748,364
1,330, 601 4, 192, 450

189, 221
58,681

156, 046 8, 610, 548

339, 361 107, 302 384, 789 1,196, 091 1,775, 767

710, 887 413, 756

39, 888, 837 5,522, 451

489, 221

214, 727 8,949, 909

492, 091 2,971, 858 1, 124, 643 59, 653, 737

Total

23, 153, 983 36, 499, 754

RECEIPTS AND DISBURSEMENTS OF 337 ASSOCIATIONS FOR THE YEAR 1900.

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MISCELLANEOUS STATISTICS OF 337 ASSOCIATIONS FOR THE YEAR 1900.

Items.

National.

Local.

Total.

Shares in force January 1, 1900..
Shares issued during the year..
Shares withdrawn during the year.
Shares in force December 31, 1900.
Borrowing members.
Shares held by borrowing members.
Nonborrowing members
Shares held by nonborrowing members
Female shareholders (a).
Shares held by females (a)..
Foreclosures in 1900..
Amount of mortgages on property in the State
Operating expenses for the year

710,588 707,544 1,418, 132 263, 680 187, 074

450, 754 217,895 186, 133 404, 028 756, 373 708,485 1, 464, 858

7,378 19, 310 26, 688 162, 679 180, 889 343, 568

44, 152 70, 688 114, 810 593, 694 527, 596 1, 121, 290

11,176 28, 096 39, 272 152, 484 189, 011 341, 495 185 181

366 $10, 920, 214 $27,557, 204 $38, 477, 418

$686, 978 $289, 639 $976, 617

a Not including 29 associations not reporting.

Comparing the two classes of associations in respect to a few of the above items, we find that national associations deducted from payments made by their members the sum of $234,161 for the maintenance of an expense or similar fund, while local associations deducted but $780 for this purpose. These amounts are 6.46 per cent and 0.01 per cent, respectively, of the amounts paid in by stockholders.

The amounts collected from stockholders and credited to them as stock payments were $3,389,784 for national, and $8,078,499 for local associations. The operating expenses of the two classes were $686,978 and $289,639, respectively. The operating expenses of national associations were, therefore, 20.27 per cent of the stock payments credited to shareholders; the corresponding per cent for local associations is 3.59.

The principal items of profit of the associations are interest, premium, and rent. The sum of these items for national associations is $1,617,576, and for the local organizations $2,055,679. These amounts are 6.99 per cent and 5.63 per cent of the total assets of the respective classes of associations. While national associations thus show a somewhat higher rate of profit from these receipts, it will appear by comparing operating expenses with the sum of these items, that these expenses are 42.47 per cent of the profit receipts in the case of national associations, while in the case of the local organizations the operating expenses amount to but 14.09 per cent of the same items.

9491-No. 13-02- -8

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