The Birmingham age-herald., 1915-07-01
MONTHLY REVIEW OF. TIE FIRST NATIONAL Confidence Growing in All
 Kinds of Business THE EUROPEAN WAR Necessitated Employment of Different Principles of Banking and Busi-
 ness = Future Depends on
 How We Apply Them
THE EUROPEAN WAR

Having completed calendar year war. from which there have arisen many novel experiences in conner cial life involving the employment of different principles of banking and business. the degree of our future pi osperity depends upon our ability to apply them" states the monthly re. view of business conditions for June issued yesterday by the First National bank
 The review says there is little doubt but what there is growing confi- denee in all kinds of business and m dustry and pays high compliment to the men who have successfully re- organized the Jefferson County Savings bank as was announced in yesterday mornings Age Herald.
 The review Is as follows:
 Review of Bank
 There seems but little doubt tha we are experiencing a growing COIL hdence in better business conditions and that the tone of most markets Is better than at the beginning of tha rionth just finished. Even in the south where war orders have had but little direct benefit. save through the pur- chase of horses and mules we are ob- trining some reflected advantages in the industrial sections, and we con- tinue to demonstrate our ability to make a crop cheaply as our contri- button to a more healthful economic and commercial existence.
 50 far we have done well in ad- Justing our affairs to the changed con. ditions which followed the derange- ment last fall of the export market of our principal commodity, but we are still aware of the uncertainty which may confront us this season by the lack of both the usual transpor- tation facilities and consumption of the cotton we are producing. We export factured staple during the past year than formerly and we are told that the visible supply from last years crop now at European ports is greatly in excess of other years. It is interest ing, therefore, to speculate upon the effect that a munificent yield may have upon the market conditions of another season. The cotton crop is so essen- tially the basis of our prosperity that we must be concerned about the things hich may influence the proceeds of it's sale. With the exception of some ef- forts at diversifying and reduction in acreage we are going on with the making of the crop, as we should, of course, but the southern commercial al producing interests can well ac- ford to give some thought to the con- ditions under which the holding of cotton may be effectually accomplished through the processes of a slow sell ing movement and a consequent sta bility of prices. With the experience of last year and the facilities of the rev banking system in operation, the Iii gent need will not be adequate bank ing facilities, but better warehouslng facilities, through which the financing may be applied
 ''The average condition Of the cotton crop as compared with last year will doubtless show by next government re- port to be slightly in excess of the same date year ago. In our own section pros poets are reported to be favorable, but here and there the observer of conditions points out that there is yet time for the crop to show the lack of normal fertiliza- ton, and that the initial lateness is yet factor to be overcome.
 Steel Industry Improving
 Tt is quite reasonable to believe that the steel industry throughout the coun- try will in relatively short time reach almost full manufa curing capacity. The partially finished products have advanced recently and the finished goods have shown a substantial tendency toward better prices We hear predictions of $l a ton betterment on shapes and bars