Atlanta Georgian. [volume] (Atlanta, Ga.) 1912-1939, 1913-06-11
F|NANC|ERS'
WOES ARE
NOT FELT
HERE
Atlanta Bankers See Good BuSi-
ness Year in South Despite
Wall Streets Gloom.

Business in Atlanta and the South
is good. according to Atlanta business
men. In some cases it is above last
years level
There is some stringency of money.
but well-established business houses,
carrying on conservative operations,
are getting their usual accommoda-
lions from the banks. The country
banks in Atlanta territory have been
supplied TO the limits of their needs
by their city agents
Woes of Wall Street while very
real to New York, seem rather shad-
owy viewed from this distance. Wall
Street is the bluest spot on the map,
and Atlanta one of the brightest.
The cotton crop promises wen, and
it will be made cheaper than any pre-
yious Georgia crop. A good crop
means remarkable prosperity this fall
These are the conclusions of At
lanta bankers. who. unwilling that
the public should accept Wall Streets
view Of the situation as final, express
their opinion Of local conditions.
Colonel Lowry Optimistic.
Conditions in the South are all
right. Business is good, and the de-
mand for money is no greater than Il
usually is at this season Of the year.
From. say October, l look for great
prosperity" says Colonel Robert J.
Lowry. president of the Lowry Ma
tional Bank.
THE information which reaches rs
Is that the corp is in excellent shape.
I talked with one well-informed man
yesterday from a section in Georgia
which grows a great deal of cotton,
and he says he never saw a better
crop, since the late rains.
There is some nervousness, Of
course. with the tariff and the money
reform questions unsettled. 1 am, rs
YOU know. a protectionist. I suppose.
though, there are some things which
need regulating. Some modification
no doubt is desirab bic. The manufac-
turers are prepared to meet reduc-
tions to some extent.
I believe it is more important 20
have the matter cleared up than it is
TO argue over the exact amount of the
chances. Il is the unrest. the uncer-
taintv. which causes the nervousness
When the thing is determined one
way or another, trade can proceed.
Just now textile mills. for instance,
can not make trades because they 10
not know just what the future basis
will be.
Urges Moderate Revision.
Things are going to turn out all
right. As I said. although l am and
always have been a protectionist, l
believe we could stand a moders te
revision downward Of the tariff. 1
believe in the income tax. too. 1
would make no exceptions. though.
To my mind. the man who makes 500
ought to be willing to give his dollar
10 the Government, and the man who
makes 100000 ought to be willing to
give his $1,000 for the benefits Of the
Government which he enjoys.
Il have known President Wilson
since he was "a young lawyer in At
lanta. He is a splendid American. I
want to see him upheld.
Those fellows in New York are a
little too blue, I think. We Of the
South have no cause TO fret. No man
who is doing a conservative business
is going OF be hurt in the least"
Frank Hawkins, president of the
Third National Bank, thinks the
r-sssrt conditions are good for the
future welfare Of the South.
Sees Too Much Trading.
we have been trading too much
in my opinion" says Mr. Hawkins.
some little tightness Of money is not