The Wheeling intelligencer. [volume] (Wheeling, W. Va.) 1903-1961, 1921-02-08
DECLARES
COUNTRY ON SOUND
FINANCIAL BASIS

Washington. Feb. 1.-THE country is
now in many respects on i souldcr
basis economically than it has been for
some YEARS. Comptroller "f IN" cur
rrncv John SHELTON Williams Informed
& ss today in what he described as
his seventh and last annua report
rcRatron. obviously Inevitable n year
aGu. has come. he said. ard prices Of
many hISir commodities AID raw ma
t~crials have returned to pra-war Levels
>or below 1T now remains for the mid
Hln man. the comptroller declared. 20
adjust nIS profits To tn" new prices be-
fore the ultimate consumer Will receive
the benefit Of the reduced cost Of Nv
ing"
Labor. however. Mr.. Villains SOL,
must soon determine whether a shut
dun,u and idlrncsS - preferred 10 a Low
or wage seal" which takes into consider
rliun the lower living changes. M!l'S
and factories cannot afford Ia opcInt'
unless they can lur out commodities
AZ prices the publ" can :Tord 4" pay
he asserted. and Il IS h'ti"r for the
manufacturers To operate and pro!i""
goods at cost "r at Il very narrow mar
GIN of i,"nfi than 9" clos" dow "niir"-
". Partir,Uatton by lah"r with capital
IN mo plthl'ENt If SllE L'Nt''l iH ~ go
rr!n,inlr h. restore business
"Whrn condi:irrS abroad become moro
settled or stabilized" C"rlptr"lI"r Will
Ii4ms declared IN = summary "f II"
prrSnnr outlook. and when at home
mErl, needed adjustments arc Effected
IN tho CoSte Ia tho consumer nr steel
and iron prrduCiS. which rrc still quot
cd above twice their prC-wa prices and
when con-. for which the government IL
self has paid in recent months as much
as four times tho pre-wIr price, u
certain other commodities which are
now hcirx kept up artihr ally "r rs 4
result % ~mon0poiiStir control far above
IN" rrc-wIr figures, get back to normal
lrvel. our country. resting; on n SOLID
foundation. will Lee ,prcpn red To enter
upon a Now md. lot us hope. long on
during era OF PROSPERITY and healthy
progress"
Banks Set New Records
During tho fiscal year ended juno 80.
l92n. tin" romp'ro'.cr sai1. th"rc w"r"
S.l5T national hanks in operation. IN"
highest number ever reported. and de-
spit" tho difficulties encountered th"v
ru.tio tho n"~, record IN Immunity, from
rl.!ur, in about {" years. tn r"rr"nt-
ago - tho capital ~ fa'lrr banks 80 "a"
rnr.'ai Of all hanks. he explained. was
Hhru; two one th"USaud'hS ~ on" per
cen, or - times better rhnn tho Average
for tho cnijro 81 years s!nN" n" inauEu-
ration uf tn" system
Combined resources Of a!l hanks III tn"
country IN Juur 90. l920, including Ma
,."nal. state and federal reserve. tho
comptroller said agErrraicd $I9.I@&.70i.-
600
Figures shaving for The first time tn"
of tho nr,nciral borrowers from
. .o,,oI a.. ~.
"''"!''' 'N"NT WIZ
comptroller l'"hnH "Hd MS """'N va
November l.. l3@N. n" SAID. aggregated
Si3.7Gt.""n ""0 Of which loans {"
and ''va stock rais"rS amounted 10
sI.9aS. ono 600 or Il percent: loans -
r,o,,,,c,rrr ,or,orrs "opnrrx;ma,cd
,' 80 non - 80, ,,,
-. WV" ''"o "' r.. ,'".. .,.,
chants. w~"-'"nt'." concerns 'hHi' nuns
IN the juhh'nK business and trading
whnIrsole and retail tH.SSl.OO nNn or -
~ Ta,, ,.r,r,.l IN hand and
49,, l,or,re =, irv,,.mor,
N'"'N "'"N'' -, s.. onn onn, 49,.
SECURITIES N"''"
railroad SHIPPING ""inihh'S, oI'"'Tl''
light md power companies E2@". hN0.On"
wh:'c III" loans to professional mon, in
: .""'"r un,.,, ,rJ r,rrry,,on amonn,cd
49,. "' NI.." IT,,
70 SH'''p""''"'
Amounted 70 ih"Hf S4'"'N'""''""" "T ="
percent Of tho total.
Bank Earnings.
Cross earning Of the national hanks
dnr,ur the naSt fiscal year a~cErcEalcd
q 'ng Gnu GOA while their total expenses
xcr. s-eS nnO nnn 81 which $I7. unu. h00
-. for l,r, rios and wages and E.S7.-
nn0 Gao was for interest on deposits Ma
,,,r,r hunks in tho city Of New York
Shave s,rninrs on capital stock Of az,