New-York tribune., 1919-02-24
Business Outlook
Favorable; Bankers
Are Optimistic
Men From Several Sections
of the Country Say That
Improvement Is Under
Way and Gaining Strength

An optimistic view of the genera
business of the country was taken by
bankers from all sections of the
country who were in New York to at
tend the eighth annual banquet of the
trust company section of the Ameri.
can Bankers Association. Several OF
the bankers, who came from various
sections of the country, were asked
three Qestions which bear on condi-
tions. Their opinion was uniformly
optimistic.
The questions asked were regard
ing:
1. Business.
,. Money
3. Employment.
Their replies were as follows:
William P. Breen, president of the
Peoples Trust and Savings Company,
Fort Wayne, Ind: Business is in a
fair way. While the industrial plants
are are not working at full capacity, they
are operating on basis of about rs
per cent. This is to be expected at
this time because conditions are not
normal. Money is fairly easy and
there Is fair demand for it. There
are not many persons out of employ
ment. The Chamber of Commerce is
arranging to take care of the men as
they come back after being discharged
from the service. Taking it all in all.
things look very favorable. 1t wort
be long, in my opinion, before normal
conditions prevail"
Frank W. Blair, president of the
Union Trust Company, of Detroit, the
former president of the trust COMPANY
section: Business is picking up verv
fast. Money is fairly easy and the de-
mand is good. The slowness of the
government in adjusting war contracts
has had considerable effect on business
IN Detroit. We are hoping that some
satisfactory arrangement will be made
IN the near future. In normal times
there are about 100000 men employed
IN Detroit. The average unemployment
OF this number in normal times is
about 10000, while now probably 80
600 are out of work. Factories are op-
Grating at about rs per cent of capacity.
The orders for automobiles on hand
with the factories are greater than
ever before, but these can not be filled
as rapidly as they could, because of the
inability to get material"
Charles F. Dolon, secretary and
treasurer of the Mauch Chunk Trust
Company, Mauch Chunk, Penn: "Busi-
ness is good and money is easy. We
invest most of our money in United
States certificates and bankers ac
ceptances. There is very little unem-
ployment in our city. We are about
thirty miles from the Bethlehem Steel
works at South Bethlehem, and the
company has laid off about 25 900 men. |
thirty miles below lis is Allentown.
ana an there IS some unemployment there.
me majority of the men who are en-
ployed in our city work for the Penn |
sylvania Railroad. This company has
large shops there. These men have
now been placed in peculiar position |
Durlng the war they wanted an eight |
hour day and more pay. They received |
~. Now when a holiday comes along |
they are laid off"
William E. Sessions, president of the
brlstol trust Company, Bristol, Conn,
and president of the Sessions Clock |
Company, and the president of the Ses-
slons Foundry Company: Business is
good; You know our town is the home
OF the clock industry in the United |
States; Money is easy, and there is
very little unemployment. New Bri- |
tam, Conn, is not far from us, and
there IS very little unemployment |
mere 1t IS interesting to note that
the Bristol Trust Company, which be-
gan business on June %, 1908, has had |
remarkable growth, thus speaking |
well for the prosperity of the section
of the country. The institution began |
business with deposits of s247,628. o.
the first of January 1912, they had
reached S1,O41,407, while on the first
of January of this year they amounted |
to S4,035, ,799.
j. H. Lascelles, president of the Ma
rlne Trust Company, Buffalo, N. Y:
General business is very good. Money
Is easy and there is a good demand. |
l,ngton claims that there are $4,000 idle |
In our city. 1 think this is overesti-
mated"