Evening star., 1921-12-31


NEW YORK. December 31.-The first
step American business men will take
in 1922, whether they have voiced their
object even to themselves or not, will
be to regain their right to the adjective
alert" They are convinced that busi-
ness will experience period of normal
prosperity in the coming year, hut they
must be built upon narrower margins
of profits. Reports from all over the
country indicate beyond reasonable
doubt that the United States is enter
ing period of narrower price changes
This narrowing range, even with de-
clining prices. does not preclude pros
perity, but thoughtful business men
realize that such conditions necesSitate
real business sagacity and unceasing
activity and alertneSs in order to show
profitable return. The attitude OF
thoughtful business leaders toward
the coming year was voiced today by
a large clothing manufacturer, who de-
clared that those business men who are
alert and watch conditions closely.
adapting themselves quickly to the
fluctuations, should enjoy a most pros
porous year.
In some sections of the country"
he continued, business is even better
than during what we would term
normal times If we all devote some
of our time to strict application OF
right sales methods, and deliver the
right kind of merchandise at the
lowest price consistent Herewith. l
am confident we are going to enjoy
better year. With a country as large
as ours there are always sections from
which business may be secured and
those who keep most closely alive to
conditions are the ones who will enjoy
the returns
Advertising Campaigns.
Nothing is more indicative Of the
widespread determination to go after
business and land 1t than the adver-
tising campaigns now being planned.
Business dispatches received from all
over the country in the last twenty
four hours indicate that advertisers
are getting ready. A recent ques-
tionnaire distributed among selected
list of national advertisers showed
that over 60 per cent intended to in
crease their advertising expenditures
and only a negligible percentage will
curtail their appropriation. They are
fighting. for the lowest rates and are
making every effort to secure more
favorable terms, especially from the
magazines.
Executives in every line are whiting
at overhead with the same persistence
shown by a youngster with a new
knife operating on cedar shlngle
Costs are being pared down and one
of the most encouraging indications
throughout the business world Is the
increased personal efficiency shown by
labor.
Farmers Have Problem.
The farmers. perhaps. face worse
situation at the outset of the new
year than any other element of
Americas Industrial life. There still
remains, in spite of falling prices in
many commodities. a wide spread be-
tween the relative prices the farmer
receives for his products and those
he pays for what he buys. In many
instances he is between the devil and
the deep sea, with the obligation OF
paying old debts on one side and the
necessity of buying new equipment
and necessities on the other.
However, increased foreign demand
and certainty that the worlds sup
plies will not be as great as antici-
pated are serving slowly to relieve
that situation. The reduction of 16
per cent in freight rates which must
be in effect by January 10 also are
increasing the returns to farmers on
grain, grain products and hay in the
states west of the Mississippi river.
Slow Market Not Serious.
Slowness in the market for iron,
steel and coal and copper and some
other basic commodities at this time
is not regarded as an entirely unfa-
vorable Indication. Prices are soft
and this has a natural tendency to
restrict the placing of orders. Rail-
roads, however, have already an
| nounced programs for increasing
| equipment and betterments which
/ will entail the expenditure Of many
/ millions of dollars in the first part
| of the coming year.
| The optimism with which hard
| headed financiers regard the business
outlook for the coming year may be
judged by the declaration Of one of
New England's leading bankers, who
declared today that he expected to
see so per cent of the productive ca
pacity of the United States employed
| before the end of the year which be-
gins at midnight tonight.