Evening star., 1921-12-03
SEEKING THE SUBNORMAL,
FAIL TO OBSERVE NORMALCY
Traders In Many Lines Realize, However,
They Can No Longer Count on Easy
Money in Business.
speciaI pispa tch to The star.

Special Dispatch to Tie Star.
NEW YORK, December 3.-Business
in many lines in the United States
has returned to normal. but business
men in the majority of cases do not
know it. Consciously or unconsciously.
they are basing their comparisons not
on normal years, but on the abnormal
years, when the war and its aftermath
overrode ordinary conditions. They
have been waiting not for the return
to normal conditions, but to super
normal conditions. and, consequently,
have failed to observe the return to
normalcy.
The real candid opinion of mer.
chants, manufacturers, bankers ana
business men. as reflected in business
dispatches received within the last
twenty-four hours. might be expressed
in that line volleyed across the foot
lights by Frank Tinney, mot 50 bad
but not SO good" In other words, nor
NAL. It is true that producers ana
dealers can no longer sell anything
for any price they are minded to ask.
They can no longer seize the custom
air and say: What sticks to the cell
ing is your change" But the buying
public is not cramped for money. 1t
can buy. and will buy, provided II is
convinced that it is getting value re-
ceived for it's money.
Likens Trade to Foot Ball.
A big manufacturer. who in his day
was one of the greatest halfbacks the
eastern gridirons ever saw. outlined
the business situation today along
those lines. Most business concerns
nowadays" he said. "are like foot
ball team that has had no opposition.
which has lined up only against op-
ponents incapable of showing either
its strength or its weakness. ana
which is living on it's reputation of
last season. When such q team
all to pieces, not from real weakness,
but from surprise that the old de-
pendable tricks and plays no longer
seem to work. After a few stih games
such a team begins to find itself ana
work out a system which will bring
it victory against real opposition.
Business has been getting stin
practice lately and is getting back
into form. No business house can
count on q walkover any longer. Com
petition has returned. real competi-
ton, which makes the game and the
winning of 1t worth while. AS soon
as business men recognize that It is
competition and not depression that
they have to overcome, business will
be back at normal"
More Building i'm PfogPesA
The truth of this mans statements
is shown in scores of industries.
More building is going on throughout
the country by a large margin than
was under construction last year.
The volume of Christmas buying is
fully equal to- the normal holiday
no ind
reduced the money turnover in COM
parison with the boom years. Drugs
and chemicals are moving in much
more satisfactory volume, now that
price adjustments have given sta
bility and confidence to the market.
The usual slack season in the auto
mobile trade has been notable by it's
absence, and tire manufacturers are
adding to their payrolls in order to
be prepared for the demand plainly
to be foreseen. Sensible buying is
strongly in evidence, with the de-
mand for household goods, furniture,
shoes and other necessaries on the
increase. Lumber prices are up and
still advancing with the demand
which even cold weather has not
checked. The renewal of activity in
the production of clay products also
has been marked.
New oil territory is being explored
and exploited, production is being in
creased and railroads in oil territory
are adding to their maintenance
| forces. Steel mills are slowly but
| surely bringing their output nearer
to capacity, and the coal and coke
situation is improving, although
much still Is to be desired in those
lines.
Wholesale and retail trade through
out the entire country is marked by
conservation. and yet with confidence
and unemployment, decreasing slowly
but steadily, is reaching the stage
| where it is no longer a bugbear.