Webster City freeman. [volume] (Webster City, Hamilton County, Iowa) 1884-1946, 1921-10-03
BUSINESS Is. !. !.
ON IMP NJ ROVE /:
Geo. E. Roberts Reviews
Current Business Con-
ditions Finding
Them Better.
CROPS STILL LOW
Self Supporting Balanced
Industry Must Ultimate
ly Come.

Geo. H. Roberts monthly letter on
business conditions, furnished by the
National City bank of New York City,
reached banks and other business in
tercsts in this city today. Its general
tone indicates slight Improvement in
business conditions. The letter follows {:
The end of September tliscloscs signs
tion, and while for tho most part
they relate to seasonal conditions, some
of the changes are Indicative Of II
gradual restoration of the Industrial
equilibrium which is necessary to per-
manent prosperity.
The shoe industry and the cotton
and WOODEN goods industries are now.
generally active. Raw cotton has all.
vanced in little: oyera;l month from
about IL cents per pound to about 20
cents. and this has put strength into
the goods market and encouraged buy
ing
Cotton goods, however, have not adj
vanced to correspond with raw cotton.
and although the mills having stocks Of
II and II cent raw material OH hand
are able to work them up and sell the
goods, the pinch will come when they
have to buy cotton at the new quota
tions and advance the price of goods
accordingly.
Retail Trade.
Retail merchants are vigorously op
posing advances in all textiles ana IN
sistlng that lower prices are neccs-
Sary to create a good volume of trade
The situation is unsettled. with opinion
spreading that costs must be reduced
both In the manufacture OF cloth and
in the garment trades.
In many lines there is Il Stir. Of, in.
creased activity. attributable to fall
trade. Crop moving is not. however,
affortling the normal stimulus, owing
iii part 10 the low prices Of farm prod
ucts and i'll part to the fact that the
proceeds are going largely to pay old
debts. However, there is a more cheerful
feeling as debts are paid On reduced.
There is NOT cnOugir business to g0-I
around, which makes competition
sharp, with profits at the minimum.
The wheat crop of the United States
and Canada stands at latest estimates
about the same as a year ago. and
the worlds crop is about the same as
for last year. About 49, millions bush.
els were exported (cither as whole
grain IN flour between July and DC
tObcr 1.
Wheat Outlook Good.
1t has been recognized in wcll-in
formed quarters throughout the last
two months that the price of wheat
between now and the next harvest
depends largely upon the crops in Ar
gcntina and Australia two countries
which have their harvcsts in our win
ter season. Neither of these countries |
ships wheat to the United States. but |
their surplus completes with ours In
Europe and the price of the surplus
makes the prices everywhere. In view
Of tho prospect for light sowinss in
Russia this fall and no surplus there
next year. it would seem to he good
policy to SOW a larger acreage of wheat
in the United States this fall.
II does not appear that the position
of agriculture or any Of the primary
industries has generally improved dur.
ing recent months. Tile cotton prOdlic.
crs have gained by the increased value
of their carryOver: tobacco, and vlairy
products are bringing better prices. and
Wheat lis on n remunerativc basis. but
hogs have suffered heavy slump and
are now with cattle anil sheep down
to about prc-war prices. Taken as Il
whole the prices Of farm products are
so far out of line with tile prices, Of
manufactures and charges FOR trans
tidl liic usual VASutuEeS
not be made Hence the statcof ,,nem-
ploymcnt mi the industrial towns.
Situation Cloggetl.
The whole business situation is
cIoggcd and olstrmctcd not only by tlc
high cost of railroad operations but
high industrial costs. placing goods be-
yond the purchasing power of consum-
crs. This is the principal reason why
of men are out of work ana it
will have TO be Squarely faced before
any general recovery can take place.
The sunshine cure is ne remedy FOR
this situation. Prosperity will not be
created by cheerful talk while this un-
balanced state of industry exists. 1t
will not be- created by unemployment
unless they bring about an
of the necessity for re-
ducing Industrial costs. Such make
shifts as spreading what Unemployment