New York, Apr. 16.
An announcement by Messrs. Armour of an increase in wages of 10 per cent. to 200,000 employees is the latest of the series of increases in wages of from 10 to 15 per cent. throughout the country, by which Labour's threat to check industrial expansion has been met.
Economists express' surprise at the country's ability to absorb the present vast output. Steel mills are operating to the extent of 93 per cent. of their capacity, woollen mills are working overtime, and the building trades are breaking the record for activity. The big. test must come in the course of the year, when if will be seen whether the factories are piling up a surplus, or whether this record production continues to be absorbed: by the domestic demand, aided by the. gradual betterment of foreign commerce.—Reuter.
Text read from the printed page and cleaned; old type leaves the occasional error.