Page:Walter Renton Ingalls - Wealth and Income of the American People (1924).pdf/153

Rh that no further comment on this subject is needful. The automobile factories are able to produce 2,750,000 cars per annum. There may possibly be use for half that number, perhaps for no more than 1,000,000 cars per annum. Yet the automobile manufacturers are still increasing their capacity.

The textile industry appears to have escaped over-building and is probably in the best position of the major industries, especially with respect to wool- weaving. Even now the American Woolen Co. is operating at 95 per cent of its capacity and is preparing to build a new mill. Cotton spinning also is in a good position. On Aug. 1, 1921, there were 36,617,584 cotton spindles in the United States, of which 36,047,367 were operated some time during the year ended July 31, 1921, and 33,898,415 were operated some time during September, 1921. In 1916 the total number of cotton spindles was about 32,000,000, wherefore, the plant increase was relatively small, notwithstanding the fact that a large part of the demand upon this industry is by the automobile tire manufacturers.

The capacity of the woolen mills of the United States is as follows:

In operation

Looms Total number Oct. 1, 1921 +50-in. reed space looms...................- 62,448 47,655 —50-in. reed space looms.................... 17,929 13,306 Carpet and rug looms........ ...........65. 8,665 6,010

Spindles

Woolen.........6.--. cece eee eee ee eeee 2,306,857 1,791,207 Worsted ........... 0c cece eee tee eee weenie 2,382,837 2,176,901

The boot and shoe manufacturing industry, on the other hand, is immensely over-equipped. According