The news scimitar. (Memphis, Tenn.) 1907-1926, 1920-12-27
TURN FOR BETTER
IN BUSINESS SEEN
At j. s. CAPITAL
Lawrence Says Officials Think
All Danger of Collapse in
Credit Situation Has Been
Passed.
BY DAvlDALAWRENCE.
Especial Correspondent of The News
Sejnoitarl

+
Seimitar.)
WASHINGTON, Dec.> 27.--The
worst is over. A turn for the bet
ter in the business situation of the
country has come, Government Of
ficials generally are glad to be able
to send Christmas message to the
American people that all danger of
collapse in the credit situation has
passed and that from now on a
steady return TO normal conditions
may be expected.
Every bit Of evidence gathered
here confirms the view Sof officials
that with the exception of individual
cases ~ here bad management or inn
prudent financing has caused some
concerns TO hang by an eyelash the
entire business outlook is favorable.
The process of readjustment is not
over Perhaps some of the most
painful changes will come when the
price of labor Is gradually brought
down. but in the business world itself
the bottom has been reached and the
future is by no means as dark as IL
was a month"; ago. Letters received
from bank officials in various parts
of the country indicate that the turn
came in the last six or seven days
and that the Improvement is sub
santial and sound,
Inc reports received on Christmas
buEihg indicate that the strike which
the consumer started several weeks
ago against the purchase OF every
thlhg except absolutely necessities
was broken by the CHRISTMAS spirit
ana mat most retailers VIII have
cleared thelr shelNes pretty well by
me END OF TINS year.
some Strikes Welcome.
OF course the danger in reducing
the cost of labor is always the pros
poet or strike But in many cases
the employers would welcome the
chahCe TO he RID OF an overhead cost
on laoor a'tngether Tor few weeks,
so the wise 'aboring man consulting
WIN the housewife and noticing a
"evine III lhe prices OF food and
ClothIhs WAL, II Is believed mere, be
'feady 10 accept lower weekly
wage rdtler than insist on higher
one and run me risk of not getting
aHSE'ng AT all during the winter
months But an abrupt change in
lapof prices rs not expected. Ger
tam classes or labor which have been
PAID at war prices Will have to come
GOWN All inns may be stubbornly
lousht ny the labor organizations,
nut me alternative may he no work
al All Already requests to accept
cut has worked out successfully IN
several lines Of business. and while
everybody wants the other fellow 10
come down. and nobody wants to
pear the brunt of the reduction him.
ser or herself, some reduction labor
CoSts is inevitable,
Building, Prices Falling.
,r,
,,e puS'"'NS man VINO wisely
''' ,i US p'l''S on oaSIS or the
.,N = { '3S' i"l period OF norman
lars - III" lucky lhdlNIunal nova e.
Jay =, rev "' 'hom were able
10 II" so uiItS" tleN Sa'Tltl'ed prot 70
lS dt'os''leF "uT'hE war years
"u'l ,"F uuli'"eI WI" ava lilaI Is very
Si'a'i' EIhdpS 'ht most optimistic
SikhS III w aSnihE'"h are nose Who
are IN tHe raining ih.'es ~ hulldlnS
mater Is we dh""'i Il" the lab"'
question:. iils'l Hhl II mas ht'n
t"h,ehgcu, mas he'n the backbone OF
one'S u'il.an" i"' increases III wages
! ne shortHge IN houses mas heeh ma
non WHY som nhI'"'hS materials
are PACK 10 pr'wdr prices, H"O
nHl'dlhs on II Ethelal S'ale WIN MOI
pe resumed uillI 'aIor comes down
700 i"I any oht "ah''h' t" bullu Il
."uSe anu sen IL several years hoh't
l"r al Hoihelh.nE ~ al ING orIEIha
cosy Will nor puma NJ war prices o.
lHo"f II ul' pHI'haS'nE power III
% me dollar shoo'd GradnaIIN !hrt"aS'
! We average Workman VIII noe "'
JIH''iItd ia ASKING lut It." if''h. .v'