Atlanta tri-weekly journal. [volume] (Atlanta, Ga.) 1920-19??, 1921-01-04

ich & Bros. Company, department
J. P. Allen company; w. H. Brit
company; Forrest Adair, head OF
George Adair, and a recognized
raj business conditions.
Summing Up of Views
OF Business Leaders
The views of these leaders rep
resenting the principal lines Of bust
ness might be summed up as fol-
lows:
1. That the farmers of the south
are in better position than ever be-
fore, thanks to three years Of pros
perity, to stand shtSHkage in the
value of their staple.
2. That factors governing the
price Of cotton are calculated to
stabilize and improve the price in
the near future. these factors being
the prospect Of resumption by the
cotton mills and gradual reopen
ing of the European market.
8. That the manufacturing indus
tries Of the south have reason to ex-
pect a good, strong resumption Of
orders in the near future, indicated
by the fact that orders already are
being received. and should be able
presently to get themselves going on
definite and steady schedule Of
production.
sale houses are beginning to feel
the stimulus Of replacement by re-
tail merchants Of their rapidly d.
minishing stocks, and that this
movement will continue upon an in
creasing scale.
5. That retail merchandise is
moving rapidly in practically all
lines, with merchants, readjusting
their prices to lower levels and the
buying public responding to this in
ducement, and with prospects high
ly encouraging for a steady, trade
this spring.
6. In fine, as stated above, that,
the pendulum has swung to it's far
thest extreme of depression, and is
settling back to the base line of nor
NAL, steady, substantial business.
Governor wel1born's Views
The views of Governor Wellborn.
Of the federal reserve bank, are as
follows:
Reports coming to us from sew
eral points throughout, the district
indicate an improved outlook for the
beginning of the new year. While
some of the mills and plants have
been shut down. it is contemplated
that there will be a resumption of
these activities as the general status
of business improves.
eve must not forget that for
sometime past the people. generally
speaking, had experienced abnormal
ly. high wages and high prices for
all commodities and manufactured
products with the resultant effect
that an era of somewhat wide ex-
travagance was sweeping the coun-
try. 1t is merely a case Of history
repeating itself in after-war condi-
people to exercise close economy
during the coming year-and, by
economy 1 do not mean misery liv-
ing, but more reasonable expendi-
ture basis than in the recent past.
81 believe conditions are slowly
and that we will soon establish a
better position, more especially for
our agricultural products. sCotton
mills in our district and adjoining
districts are beginning to increase
the hours Of production, and before
long we may expect better for
eign outlet for our cotton and man
ufactured cotton products, the move
ment of which will be general
stimulus to the entire business, par
ticularly, of this section Of the
country"
"a good sign for the future is that
the retail merchants in the cities
have had a splendid trade and it
follows as a matter of course that
their shelves will have to be re-
MI ;-I IafA hi wur{I
stimulate manufacturers and whole
salers, and in due time the readjust-
ment period will be over with and
business will again resume it's normal
functions.
1--WE are to be congratulated on
banks and there need be no fear
that commercial and agricultural de-
mands will not be fully met. It is
an astonishming evidence of the
financial power Of the south that the
banks were able to organize a $10,-
exports to foreign countries.
Il feel this is no time for calamity
howling-that our section of the
country has experienced other darks
periods through which we have
passed safely, and that with a CO.
fidence, we will again weather the
storm"
Asa G.. Gambler
'One of the principal causes Ell de-
preston in the south has bee1 the
disappointment of our farmers over
the sudden drop in the price Of cot
ton. They produced this years crop
On a high level Of costs for every
item entering into it's production, and
then the price dropped when the crop
was gathered.
when cotton begins to move to
the market. as L believe it will soon.
Ill our currents of business will be
in the south. 1t is reason
able to expect that a replacement %
stocks by the retail merchants will
stimulate the manufacturers to re-
sumo production, and that a resyss~
ion of activity by the textiles cSS
other industries will react beneficial
y upon the cotton market. Merchants
lre taking their losses and disposing
IF their goods. Their shelves will
soon be empty and they will go back
nto the buying market on a large
scale. \
There is no less money in ex-
stence now than few months ago.
No money has been burned or ship
bed out of the country What we
iced is to keep 1t in circulation, for
| stoppage of the current of business
1t noe point causes a stoppage at
I'll other points. We need to remem-
l. T.