The Abbeville press and banner. [volume] (Abbeville, S.C.) 1869-1924, 1915-08-18
FRANK BARRETT ON
BUSINESS OUTLOOK
REFRESHING AND ENCOURAGE
INC TALK BY HIM BEFORE
ROTARY CLUB.
No Repetition of
Status of a Year Ago
;ssxsmfacturing War Munitions in
ysa,- East-and Rolling in Wealth.
Conditions in South Sure to be
Near Normal. Significant Amount
.p3 Cotton Used in Manufacture
Of War Material.

Near Normal. Signlhcant ANhoo"'
M Cotton Used in Manufacture
Of War Material.
Called upon by President Rufus II.
B-usvn, at the Rotary Club meetlhg
yesterday. MI. Frank H. Barrett, VINO
;sY Iast back from a northern ana
eastern trip, made a most interesting
I'll on the business outlook, Which
yrs received with applause by the
gentlemen present.
Mr. Barrett said in part:
50 found. while East, a great spirit
If optimism prevailing among the
CUISINES men, and why should not
tfT- spirit prevail? Every dollars
-vsr7rth of property that is being de-
.seruyed in Europe is creating a lar
Asary demand for American property.
n dives not take a s~oothsayer to pre-
,55uy. that the United States of Amerl-
ca al the expiration of this war Will
ffya the biggest lien on the WORLDS
Almost mlraculousiy IN
9l57s wear we have been transformed
tsrsxze a debtor nation to a cred!tof
;paaiqp. A year ago, the fnanclers
W America were wondering and Wor-
,gEssy over how they could possibly
xsnE their debts to Europe n
;sSeessht it would be necessary to
slrain this country of all it's gold IN
aszE2sr to meet it's foreign debit bal
sAncss. Today the worry is how the
zNa-signer is going to pay for every
:Krszg he is buying from US. Money
VS. cheap and money is plentiful.
The War Munitions.
ZINE various manufacturing con-
ersrzs engaged in supplying NUM-
4sjazs of war to the allies are nearly
all 3~ocated within a radius of two
jkn1r.dred miles of New York. Their
&s9s5ness is being operated upo a
Koasas of paying for all the increase
sasss enlargement of their plants out
~aE The first years profits, thereby
permitting of an absolute c~harge-of
OF this at the end of the year. The
:=4sronh years orders are being taken
OF the basis of thirty to forty per
<sREs net profit.
"This is almost staggering to the
amagsnation. ,One very close to- the
Bethlehem Steel Co., told me that
Ehsy had $3.50, 900, 900 worth of rush
orders ahead of them at present.
rgN2s good feeling necessarily extends
:1ls labor with an increased purchas-
.IPg power resulting, and in turn to
elther lines of business. 1t is to be
,klcQoed that the South will feel short
,3J the reflection of the optimism in
.ate East.
DR.. Jones' Sermon.
81 was introduced to a gentleman
AN New York, VINO, when he found
That ! was from Augusta, said he
WEES most happy to meet n from
.Azgnsta, Ga, on account of the in
'k;srEe interest he felt in the review
SE DE- Ashby Jones' sermon on Got
-aaN and Character" which he had
Iuas recently in the Manufacturers
Reeord. He said that he was de-
Igabed to see this broad and catho-
Gr view of the situation as compared
~ ehe sentimental "buy a bale" slush
-zE Last year.
q have not the ability to discuss
";sot1on in terms of character of char
sERc5Rr in terms of cotton, as DR..
rIenss did sc e%loquently, but there is
rSbG p0lltI VI lC1Cl CllSC W Vic llOIl-
8Iument of cotton to Germany that
e would especially like to call atten.
EsBEa to, that is, that the cotton mill
rs merely an intermediary between
tLe cotton bale and the ultimate use
If the manufactured article.
Germany and Austria have been
s1lng about 100000 bales; doubt
Ness 100000 of this mill consump-
~kIun has been exported in the form
<R goods. Our failure to be able to
slip cotton to Germany and Austria
~Stnrefore does not mean that the
consumption of goods in the world is
restoced to $4,000 bales. 1t pro-
2ably means that the consumption of
scc&1on is reduced 1000, 900 bales, as
Ike other 1000, 900 will seek other
methods of distribution to the ulti-
-En ate user of the goods whether
Through English, American or some
.~Vsher channel.
Another Feature of 1t.
"Another feature in judging of
&sae cotton situation that must be
considered is the large and daily in
.c.aasing consumption of cotton for
ammunition purposes. This is esti-
mated at 2.5O0,0 600 bales on the
loresent basis of manufacturers of
gun cotton and shells in America and
amongst the allies.
"If this is true, it is more than the
SHst consumption due to our inability
tEo'ship cotton to Germany.
In my opinion, there is no chance
81 the British government permitting
= single bale going to Germany if
ehey can prevent it and we must look
elsewhere for demand. However, l
Relieve firmly that demand will be
commensurate with the supply as of
Eered and while we may have a
suoderate lower market, something
GkE $500 a bale during the market
S:ug season, there is no chance of the
terrible sentimental crash of a year
sAgc, and l think business in the South
; ms fall will be nearly if not entirely
p,rrpal