New-York tribune., 1920-12-25
Business Men
Predict Year
OF Prosperity
Surplus Stocks Nearing De-
Pletion, Public Is Again
Buying and Production
in All Lines Stimulated
Low Prices Aid Boom
Result of the Presidential
Election Held to Restore
Manufacturers Confidence

Retail and wholesale merchants and
manufacturers, basing their estimate
on business done during the Christ
mas holidays, yesterday predicted that
the next year would be one of pros
perity.
They asserted that surplus stocks
everywhere were nearing depletion;
that the public, encouraged by lower
price, was buying again, and that pur-
chasing agents would soon come to the
city eager to obtain new supplies for
spring and summer trade.
Reasons given for optimistic pre-
dictions were:
That the clearing out Of surplus
stocks by special sales during the last
three or four weeks would stimulate
production.
That lower prices were attracting
buyers, who had been holding off in
the belief that former high costs would
not continue.
That the result of the Presidential
election had restored the confidence of
manufacturers in the political situa-
tion.
That the country had harvested
bumper crops; owned one-third of the
worlds gold supply; owned large
merchant marine, and the markets Of
the world were demanding American
goods as never before.
Department stores, which are re-
garded as barometers Of retail trade.
report that the rush Of Christmas
business has depleted their stocks in
many lines and that manufacturers
will be kept busy supplying future
demands.
says Prospects Are Bright
Judged by our Christmas trade the
prospects for the immediate future are
president of Oppenheim, Collins & Co..
I'VE feel there is every reason to be
optinistic. 1t is he<hful sign that
prices are coming down in a sane fash
ION. This is good for the merchants
and for the public"
Horace Saks, president Of Saks & Co.,
thinks prices have become fairly we'll
established, and that if buyers and
sellers both keep their heads the coun-
try is in for year of great prosperity.
SO far as his own business is concerned,
this years Christmas sales have ex-
ceeded by large margin those Of last
year. and indicate, he says, that the
public has begun to realize that prices
generally have touched bottom.
''We feel very optimistic for 1921" >"
said Mr.. Saks. People are buying
again, and the reason they stopped buy
ing was because no one knew how much
lower prices would go. Sales have been
made regardless Of values, and in many
instances at great loss to merchants
They have had to have cash. profit or
no profit. Once prices nave been def
nitely established the people will buy,
and already there is a realization on
the part of the public that prices can't
90 much lower, if any lower.
ut has been necessary to rid the
market Of accumulations Of goods that
were manufactured at excessive costs.
All merchandise has a certain produc-
ton value, below which prices cannot
be maintained. But by and large,
prices have touched bottom. regardless
of the false Impressions given by the
disposition Of certain stocks of manu-
featured goods, and prices have become
fairly we'll stabilized. 1t is up to buyer
and seller to keep their heads, and if
they do we will have an unusually pros
porous 1921"
Underlying Conditions Good
Francis H. Sisson, vice president Of
the Guaranty Trust Company, says
there is every reason for being ration
ally optimistic, that all underlying con-
ditions in this country are good and
that these sooner or later determine
the trend.
"There is every reason to believe that
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