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.

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.

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 INDUSTRIES, 1900.

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.

RECEIPTS AND DISBURSEMENTS OF 337 ASSOCIATIONS FOR THE YEAR 1900.

MISCELLANEOUS STATISTICS OF 337 ASSOCIATIONS FOR THE YEAR 1900.

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 asso

ciations 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. 43-02-8