Evening star., 1921-12-25
JANUARY DISBURSEMENTS !,
ARE ABOUT THREE MILLIONS
Banks and Corporations Among Distrib-
utors-Plieht Of. .Aericulturists Is Against
Betterment in Many Lines of Business.

man cartoon on this page the active.
energetic president of the District
Bankers Association and an official
OF many business and charitable and
beneficial institutions in Washington.
1t Is question whether Mr.. Lar
rer is really enjoying the quiet de-
picted. He will be too busy with
the duties Of the day.
Yesterday afternoon the employees
Of the Washington Loan and Trust
Company. senior and junior. and some
Of the directors. including John B.
Larner. president, gathered around
a jolly big Christmas tree and duly
with talks. cheers and good wishes
inaugurated the Christmas season.
There were presents for everybody.
In the first place the directors had
voted 10 per cent bonus to all EN-.
the harmony and good feeling exist
ing between the executive officials
and the Junior bankers permitted of
friendly recognitions and exchanges
Of gifts in evidence Of the happiness
Of the season and hope for the future
company with which they are con-
nected.
Better Outlook.
A year ago conditions were de-
cidedly dubious; today they are much
better. but still far from normal. 1t
is evident that the recovery from the
worlds most disastrous war is not
a matter of year or two. but that
years must pass before the enormous
destruction is completely paid for.
Each day Of the year has been at
tended with some recovery up to the
middle of the fall, since which time.
tho larger lines have been showing
the effect of further economies and
Stacking in demand
Thus the steel corporation shows IS
per cent activities against so per cent
in November and the first days in the
month Of December.
1t Is unfortunate that the greatest
depression has been among the agn:
cultural classes-grain, cotton and
live stock interests-although there
has been no transmission Of the de-
preston to the retail prices Of the
products Of these interests.
1t has been brouE Eht home very
strongly to the American public, par
ticularly to that part Of 1t that is in
power of the great American pro-
ducera
The lack of this buying has injured
every wholesale and retail interest
dealing with the necessities OF life.
in the ranks of the producers has been
reflected in legi gislation and will be
more and more as bloc after bloc in
sists on its demands in treating Of the
most delicate and important subjects.
The story of Joseph and his thrift
and wisdom. which saved Egypt and
his own family, was not needed by the
agriculturists.
They had their fat years with prices
that they never had dreamed of and
reveled in prosperity and $2.65 wheat.
while cotton rose from the buy a
bale at Z cents a pound" to 80 cents
and affluence. and live stock scared.
not only were not loaded with saw
ings. but they were loaded with obli-
cations. Came then trouble.
The crops are again large, but the
fact that Europe could not buy as
freely as she would had her moneys
been worth dollars cut down exports
and prevented big foreign trade to
the loss Of the railroads. the farmers
and to all business lines.
lost value, but wartime prices are
gone.
Economics.
The success that has so far attended
the great conference now on in this
city means an enormous saving to this
country. and the installation Of the
budget system and economies intro
duced at the behest Of the executive
will greatly reduce the expenditures
and should lessen the taxes.
Talk Is rife Of financial conference,
but the outcome of such a gathering
Is difficult to predict. as the problem
means. In the meantime blocs are
urging speedy payment Of all foreign
loans and interest thereon-a slow
process at best.