The Alaska daily empire., 1921-02-02
BANKERS CLAIM MONEY MARKET
 GROWS BETTER
Two Bankers of Seward Dis cuss Final Conditions
 In the States.

Banking conditions are somewhat depressed in the East and Middle West. but are a trifle better on the Pacific Coast, according to Alaskan bankers who passed through Jun51u last night on the Admiral Watson enroute to Seward. The two bankers were Gaston Hardy, President Of the Hartman National Bank, at Seward, with his headquarters at the Harr:- man National Bank in New York City, and H. s. Balderston, cashier of the Bank of Seward
 MT. Hardy said that the depres sion among the financial institu tions in the East was due to the manufacturing conditions, and in the Middle West, to the wheat situation, the banks having lent money to the farmers on $1.S0 wheat Wheat is now below this quotation, but the banks will clear up as wheat is 3D. ing up. When manufacturing re- sumes normal conditions, the banks will realize, but until these condi. tions change, the banks will not lend more money. MT. Hardy said that he believed the financial situa- tion would be fine within two or three months, the crisis, if such it could be termed, having been sue cessfully passed. Mir. Hardy is go- ing to Seward accompanied by his wife, and may remain a month or so before returning to his headquar- ters in New York City.
 Mir. Balderston was in conference with bankers in Seattle and Tacoma l Regarding the financial condition in the Pacific Northwest and along the coast to the South, MT. Balderston said money was gradually to become easier.
 Many banks, in fact all large financial institutions on the Pacific Coast. loaned to canneries and to the lumber companies, to a great extent during the past year and as both of these commodities have taken temporary slump, money is tight at present." said Mir. Baldor- ston. "The salmon is coming back and no money will be lost and the same thing can be said of lumber. Until these two chief items on which money has been loaned. adjust them selves, the banks are making few loans.
 "On the coast banking conditions, especially institutions connected with the Clearing House are splendid. The few failures have been among banks conducted by those who did not know the banking business and who loaned money without gilt edged securities. The failure of the Scandinavian-Am erican Bank in Tacoma was due to building loans. The bank owners purchased a splendid corner lot, pay ing over $450,000 for the site, and then borrowed money to construct the building. This borrowed money was not sufficient for this enter. prise and when further loans were solicited they were turned down and the crash came. I understood from financial men that the bank will liquidate, but as to the per cent do not know"
 Mir Balderston said that Seattle was full of Alaskans, and the steam CTS coming north within the next few months will be sold out to tne sourdoughs and many others who are coming to the North to seek elr- ployment, many of them to locate permanently.
 "Alaskans do not know how well off they are,' said MT. Balderston in conclusion, for we have no trou- 1 be up here and business is going to be good this year, I firmly be- lieve."