Atlanta Georgian. [volume] (Atlanta, Ga.) 1912-1939, 1913-06-11
FINANC|ERS'
WOES ARE
NOT FELT
HERE
Atlanta Bankers See Good Bust
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 las
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 well, and
it will be made cheaper than any pre-
vious 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 j:
usually is at this season Of the year.
From. say October, I look for great
nrosneritv." SAYS Colonel Robert ].
Lowry. president Of the Lowry Ma
tional Bank.
"The information which reaches as
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 better
crop. since the late rains.
There is some nervousness, Of
course. with the tariff and the money
reform questions unsettled. I am, rs
YOU know. a protectionist. ] suppose,
though. there are some things which
need regulating. Some modification
no doubt is desirable. The manufac-
turers are prepared to meet reduc-
tions to some extent.
4 believe it is more important 20
have the matter cleared up than 1t Is
to argue over the exact amount OF the
changes. 1t is the unrest, the uncer-
taintv. which causes the nervousness,
When the thing is determined one
way or another. trade can proceed.
lust now textile mills, for instance,
can not make trades, because they 10
not know just what the future basis
viii be.
Urges Moderate Revision.
Things are going to turn out all
right. As / said, although l am and
always have been a protectionist,
believe we could stand a moderate
revision downward of the tariff. I
believe in the income tax, too.
v~orld make no exceptions. though.
To my mind. the man who makes 500
ought to be willing to give his dollar
to 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.
- have known President Wilson
since he was a young lawyer in At
lanta. He is a splendid American.
want to see him upheld.
Those fellows in New York are
little too blue, 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
present 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
Cortipusd on pace 2 Column 5.