Pine Bluff daily graphic., 1914-11-12
Comptroller of Currency Bases Statement on Re-
 ports from Examiners.
PAYING SMALL LOANS
John SkeltOn Williams Says South IS Only Section That Appears Grip pied, But Here Conditions
 Are Improving.

and member of the federal reserve board, said in an interview that the business outlook is unquestionably lm- proving in every section of the coun- try. He based his observations, he said. on reports that have just come in from bank examiners throughout I the country. These employees of the comptrollers office were requested to
 report their best judgment as to busi- ness conditions. With but few ex- captions, the comptroller said, the reports are optimistic.
 "The South appears at this time to be the only section of the country seriously crippled" said the comp trcller. "This is due. as is well known to the overproduction of cotton, coupled with the breaking down of the export cotton market. Nothing else had contributed materially to the uu- fortunate state in which the normally prosperous South today finds herself The lumber industry of that section also appears te be on reduced basis, but no other interests appear to be in straits.
 Small Loans Being Paid. ''Evep SO small loans are to large extent being paid throughout the South as they fall due. Many exten- sions of time and renewals are being asked for, but the issue of emergency currency has proved great help Tn meeting mcney tightness. The release of reserves through the operation of the federal reserve act will further relieve this section and nable It to held it's cotton with less discomfort "In the East the inquiries of the bank examiners show that the Euro pean war has produced abnormal con- ditions generally. In some lines there is especial activity. the result, Tn large measure. of orders for war ma tcrials. In other lines there is a de- pressed state. It is worthy of re- mark, however. that but few mann- factu,ing enterprises in the East have lclosed down entirely and only smal number are now working on reduced time. Most loans in many sections o1 the East are being paid in full at ma turity. The crops have shown large yields and business on the whole IS gradually assuming condition ap- nroaching normal, in spite of tht
 European war.
 Prosperity in the Vest ssThe middle West, the intermoun- tain states and the Pacific coast sec lions are even now showing symptoms of great prosperity. The bank eXaml' ners have found, for instance, that III 1 the agricultural sections the grea' crops are being marketed at high prices; that in all the staples condl' lions have steadily improved fol weeks and that the shipping 1aclllues l in some states are being taxed to mee' the demands on them.
 "On the Pacific coast the commer' cial demand for money is strong. With drawals on account of the uneaslness produced by the European war nave almost ceased. No failures of specla note are recorded by any of the treas ury agents. The real estate marKe is naturally dull and the lumber pusl ness is not thriving. Otherwise tht 1 far West seems to have fully recov' cred. :. :. .In the intermountain country IL ls reported that practically all mills ano factories are in full operation. Iht beet sugar trade is bringing millions of dollars into the pockets of the farmers. There is still more or less donression in the ore mining industry however.
 on the middle West, the fall season has had a most stimulating eHect up on all lines of business. The demand for money is increasing. Manufactur ing is somewhat below normal, Du' inc local retail trade is much oettel than if has been for weeks, ana tne harvest funds have placed the asri cultural interests in more than com fortable circumstances.
 Prosperity Is Inevitable. "This is. briefly. the condition o' American business today, as found by the host of national bank examiners And. of course, the bank reports
 which are now being recelved at 'ne
 treasury department i'll response ' U,
 inc last call of the comptroller. VII
 hear out observations of the exami'
 ners. .,,oso or-
 6cials find throughout the country
 feeling that domestic prosperity TOT
 the American people is inevltahe
 that trade expansion at home ahu
 abroad is more than mere prospect
 and that with the federal reserve sys- tom effective. with all energies-gov- ernmental and otherWise-train ,, ,u the same end, national buslness VII assume great proportions whetner .ne European struggle is long or snort.