The Montgomery advertiser., 1908-04-06
SOUTH'S CONDITION
OF SOUTHERN RAIL-
 wnY IS OPTIMISTIC.
Mir. Finley Says Banks In the Southern states Are sound and Farmers Are in Prosperous Ccndf-
 ton.

Washington, April 5.--President ". ". Finley, of the Southern Railway Company, who has been looking care fuIry into commercial and industriai conditions in the Southern States. was asked today for a summary of the re- suit of his inquiries.
 While business conditions in the Southern States are not as favorable as we would like to have them. said MT. Finley. T think the situation Tn that section is fully as favorable 10 an early revival of prosperity as that in any other part of the country. Throughout the South, the banking Institutions are in sound condition and although their managers are generally pursuing careful and conservative pol icies, sound business enterprises are generally able to obtain all Of the credit needed From most localities come reports that southern farmers are in a prosperous condition and have substantial bank accounts. In the limited States as whole. and especial- ly in the southern section. agriculture Is the predominant industry. Last years crops were sold at renumerative prices. Largely as a result Of the purcha sing power of the farmer. re- tail trade in most southern communf- ties is farily active. In those locali- ties where cotton mill employees and other industrial workers are most numerous. there has. of course. been more or less falling of in retail busi- ness as result of the industrial de- nression. As in all other sections. there is a tendency on the part of re- tail dealers in all lines to buy very conservatively and reduce their stocks of goods, This necessarily has the effect of curtailing the business Of iobbers. who in turn are conservative in their purchases from manufactur- CTS and this in turn tends to accen- tuate tine industrial depression
 That the depression should have haan so widespread and serious is due. T, think. not so much to fundamentally unfavorable economic conditions. as to the general uncertainty as to the fu- fura which has prevailed and to the fconseousnt tendency m the part of the American people generally to econo- mize in their expenditures. The cufnu- lative effects of all these individual economies passed on through retailers and tobbers. have fallen with full force upon the manufacturing and transpor- tation interests of the country which are. consequently, feeling the depres- sion much more acutely than other in terests.
 "The question of how soon a revival may be expected 10 peRih, IS one which no man can answer with certainty, for the reason that some of the reasons for the continuance of ths~business de- pression are physiological. This being true, one of the most important results to be brought about is tho creation of A creative sentiment based on faith in ourselves and in the future. A few weak spots In our banking system have been eliminated: the natural resources of our country have not been dimin- ished. and the industry and enterprise of the American people are as great as before. Under thesc circumstances, before, as a result of the prolongation of existing conditions. economic com- plications arise. 1t Is the duty of each one of us to look to the future, rather than to the past. and to contribute to tho best of his ability to the bringing about of such a sound construction of sentiment as will substantially aid in return to prosperity