Page:Walter Renton Ingalls - Wealth and Income of the American People (1924).pdf/147

Rh In the manufacture of crucible steel for tools and other special purposes about $240,000,000 is invested, the plants giving employment to a maximum of about 40,000 men, which indicates an investment of about $6,000 per worker. According to John A. Mathews, president of the Crucible Steel Co. of America the investment in a crucible steel plant is $300 to $400 per ton of annual capacity. The production of a tool steel plant averages about 12 tons per man per annum, while in ordinary steel manufacture it is 180 to 360 tons.

The General Electric Co. has manufacturing plant of book value of $112,621,343, which has afforded employment to 77,000 workers. The average value of the plant used by them is, therefore, $1,462. I do not put any emphasis upon this figure, for the General Electric Co. has notoriously written down its plant investment in a very severe way, and the actual cost and value per worker of the plant used in electrical manufacturing is undoubtedly much larger than this quotient indicates. The Westinghouse Electric and Manufacturing Co. employs about 45,000 men when running full. Thus we are able to account for 122,000 workers employed by these two principal companies of the electrical manufacturing industry.

According to the National Automobile Chamber of Commerce the automobile manufacturing industry, including the production of parts and accessories, represented a capital investment of $407,730,000 in 1914 and furnished employment to 146,000 persons, the capital per person being, therefore, $2,793. In 1920 the capital invested was $2,126,717,377. The number of persons engaged in manufacturing was