Evening star. [volume] (Washington, D.C.) 1854-1972, 1921-01-02
BUSINESS CALLED
| POOR BUT SOUND
Chamber of Commerce Re-
/ view Tells of Plans to
8 Relieve Situation.

|. General business conditions through
tout the country are poor but SOUND
with the beginning of the new year
Archer Wall Douglas, chairman of the
committee on statistics and standards
of the Chamber of Commerce of the
United States, declared in his semi
annual review of the business situa-
tion last night.
. A determined and constructive ef-
Tort is being exerted to bring about a
change for the better by teamwork
and cooperation in business. accord
sence of any apprehension of a money
panic he sees the most encouraging
Feature of the whole situation.
How long the present situation VIII
last is subject of much speculation
and inquiry" says Mr.. Douglas. the
general thought is that the winter
months will be quiet. and that as the
spring opens there will be an appre-
ciable change for the better.
= Cotton Sections Dull.
3 'In the cotton sections there are
those who feel that the first six
months of the yeaF Ayill show a con
tinuous monotony or dull business In
the industrial districts there is gem
eral feeling that the situation will i'm
prove when prices of commodities
reach a figure that will tempt the
ultimate consumer to begin purchas-
ing for other than his immediate
wants 1t is rather significant that
some sales can be made at bargain
figures, but very few at moderate con-
cessions. The answer apparently is.
therefore, that when the readJustment
now in active operation has resulted
Manufactured commodities business
in the industrial districts will assume
more normal proportions.
I'VE have the curious paradox IN
this country at this time of the great
est harvest ever gathered. and conse-
;Quently the greatest amount of agrl-
cultural wealth, in quantity. that we
have ever known, with the lack OF the
factor of ready translation into liquid
capital, and in the midst of incredible
plenty on every hand the country
side is still in sore distress. The
farmer is particularly short of funds
since he has marketed so small a por-
zion of his crop. and as the country
banks are already loaned up to their
limit it is difficult, in fact almost i'm
possible. for. the merchants and farm
ers to obtain further credit. The
FARMER is most unwilling to sell his
products at present low figures, and is
pot doing so, save under stress OF
necessity or because of pressure
brought by merchants and banks to
settle his accounts.
Hit By Price Decline.
from the viewpoint of the farmer,
II may be said that he purchased his
house and farm equipment last spring
at the peak of high prices. and paid for
labor the largest wages within his men,
cry. Now, before he has opportunity
to dispose of his products. the prices
decline from 40 to so per cent, until
they reach figures which seem to him
entirely unremunerative. In addition.
.Rs is always the case in periods of
low prices, he finds that there is prac-
tically no market for some of his goods.
MANY merchants are engaged in COL
Letting bills due rather than mourning
new commitments, and consequently
Their buying is confined, after the ex-
ample set by the farmer, largely to
things Of immediate need Collections
are naturally slow under these condi-
lions. Merchants are revising drasti-
cally their credit systems under the
stress of necessity. and in many cases
5he retailers in the country districts
are combining themselves strictly to cash
transactions