The sun., 1919-02-25
BUSINESS LEADERS
EXPRESS OPTIMISM
Mitchell Finds Bankers Look
Into the Future With
Confidence.
THE SITUATION is SOUND
Country's Problems Becoming
Small by Manufacturers
Holding Back.

CHARLES z. Mitchell. president OF the
National City Company, who has Just
returned from a trip TO the branch Of
aces OF the company on the Atlantic and
Pacific coasts and In the Southwest and
middle West, declared last night that
conditions the country over were OF
character to make him feel decidedly
optimistic as to the future. He said that
while attending to his business Affairs
on the trip he met most Of the bankers
IN every city which he visited and ex-
changed with them views on the general
situation. He also met and talked with
many leaders Of industry. and nowhere
did he hnd, he declared, any feeling ex-
eept one Of general optimism.
Mr.. Mitchell took up most OF the Inn
portant propositions which are OF inter-
est and Importance at the present time
and told Of the feeling he encountered
on these specific points. He discussed
railroads. building, banking. manufao-
turing, wages. living costs. business gem
orally. &C.
~By and large" he said. ''the country
Is more uniform now than ] have ever
.een II before, not only In conditions ex-
istlng but In views on the important 10
cues Of the day. The latter alone make
one distinctly optimistic as to the future.
n the thinking men Of the country have
their minds riveted on the problems OF
the day we can feel content that the
magnitude Of these problems will become
smaller constantly.
Business has quieted down generally
but there Is a feeling OF conservative
optimism as to the future and business
men and bankers are not disturbed by
aopditiap. ~ thA rnOD1eNt TherA tS
no particularly disturbing situation as
70 labor and as we get into the spring
their minds riveted on the problems OF
come of lesser importance. There 10 less
UNEMPLOYMENT in the West than In the
East. Merchants report business as fair.
industries report 1t as slack.
THE railroad problem 10 'bothering
everybody and there does not seem TO
he any solution that Is generally ac-
espted. Nowhere is the view prevailing
that there should be Government owner
ship Private operation under equitable
Government regulation IL most desirable.
The traction situation IL the same In
other cities as II Is here. All over they
are trying $50 per cent. expenses with
GO per cent. nickel
Manufacturers are holding back on
account Of price control and are expect
ing 10 buy more cheaply later on. They
trade until questions such as merchant
marine, the exchange situation affected
by tariffs, &C. are settled.
Before we get on the true road to
commercial prosperity We must pay for
the war more slowly: there must be
some alienation from the heavy tax
which Is taking incentive away from
commercial endeavor. As regards "a
merchant marine subsidy II is not looked
a. arA huA x-n
In one form or another all feel that II
great Government owned merchant
.eet Is to be used to develop American
commerce there must be some form or
another of subsidy, even II a camou-
fRge subsidy, to the end that American
sh!ps flying the American ias may
travel the trade routes at rates which
permit merchants and manufacturers OF
the United States to ship goods in COM
Petition with the merchants and manu-
facturers OF TIE rest Of the world.
The banking situation 10 sound the
country over. The retention OF cotton
ty the planters Of the South and the OK
-,nsive borrowing thereon are making
for tight money in some OF the country
tanks A similar situation exists on
Inc coast. where the bean crop has not
leen moved. Nowhere do consider that
there Is an unsound or an unsafe eltua-
lion
The subject Of living costs and wages
is rife everywhere. We are inclined 10
run In a circle with the argument that
- labor doesn't come down materials
can't and vice versa. find the general
feeling Is that price props should be
taken away from materials. All agree
that price fixing. which Is certainly un.
economical and the need for which dis
appeared with the war. should be elimi'
mated.
81 md as I expected. at 30 far date
from the Victory Loan. pessimisrn as te
It's success. There hasn't been single
loan doated that at about this tims
away you wouldn't receive the mos
pessimistic views. Probing beneath thu
surface I md the belief that there may
be a necessity for a larger taking by the
banks. find however. that there will
D" large taking up by the people.
feel that the result of previous loans wal
the result OF Americanism which spelled
y viii more than the boom of guns II
Trance. Every city has Its jaw set t.
La