Evening star., 1921-12-24
Special Dispatch to The Star.

opec1dl Dlspalcn TO Ihe star
NEW YORK, December 24.-Busi-
ness Is taking q breathing spell and
will devote much of the next two
weeks to warming-up exercise for
the race of 1922. Business men are
ready and fit to jump into that race.
but they are going to, be certain of
the ground from which they start and
know where they are going to land.
Too many lines of trade were dragged
down and hampered in 1921 by the
crushing weight of heavy high cost
inventories for them to make that
mistake again. They are utilizing
the last days Of the year to strip
to racing trim and the inventory pc
riod will close with shelves lightly
burdened and bank accounts eX-
panded.
Business men not only are cleaning
out their stocks, they are cleaning
out their IDEAS Business will be bet
ter in 1922 not only because OF re-
adjustment of conditions, but because
Of more truthful methods Of compare
son. Hundreds of merchants. manu-
facturers, farmers and business men
have been unable this year to for
get the abnormal profits of the war
and postwar years. In comparison
with the frenZied movement OF those
years, business in 1921 seemed in Il
state of inertia, and as consequence
their cries rose so high that profits
were nonresident and losses were
Overwhelming. -.
SufTerings Only Imaginary.
When they came to balance their
books, however, many found that their
sufrerfngs had been imaginary and that
they had concluded the year not only
without serious disaster but with an
appreciable profit. This year will give
a basis of comparison in 1922 far more
nearly normal than the boom times
The ake-it-or-leave-it" policy Of
merchandising also has departed, ap-
managers have found there was too
much truth in the jest sprung in one of
the seasons stage successes that sales
men now are the most Independent peo-
pie in the world: they take orders from
nobody" The idea Of service. too long
forgotten, is coming back to its own and
statesmen will take more suggestions
and more orders than they have in the
past year. The Christmas trade has in
duced merchants to talk and think less
of the so-called buyers strike" and to
look more closely into the question of
whether their own goods. their prices
or their sales methods are not at fault.
Easier Money Will Aid.
Easier money undoubtedly will help
the 1922 business situation to Il bet
ter start. 1t will not be the easy
money of reckless buying and swollen
profits, but easier rates at which
money for business purposes may be
obtained by reputable houses. After
the interest payments of January Is,
both call money and time loans may
be obtained at much more advan-
tageous rates. according to the lead
ing financiers. Business dispatches
from all over the country received
within the last twsnty-four hours in
dicate that such trend is already ap-
parent and is accompanied by better
collections This reflected in the
heavy orders already placed it null
titude Of industries for goods to be
delivered and paid for in the spring
months.
The steel industry is in the usual
slack holiday period. with many men
off fer Christmas. and a number Of
railroads have also curtailed work at
their shops. However, the prospects
of spring business have resulted in
plans for the reopening of iron mines
and additional iron and steel furnaces
Production of shoes is well above nor
NAL in many sections. there being
special demand for the cheaper
grades The strike in the packing
house trades has curtailed hide pro-
duction. and hides and leather are
both strong. with tanneries increas-
ing their working forces.
Textiles Are Active.
Textiles are active in spite of the
holiday and inventory close downs
and some spring lines have not only
been sold out but pro-rated among
customers
The production of auto accessories
is increasing steadily with plants
adding to their pay rolls in anticipa-
ton of a big season. The same
activity is shown in other metal
specialties. notably razors and razor
blades. The big tire companies are
preparing to increase their outputs
materially after the first of the year
and rubber and fabric are in good
demand with prices strong.
The export demand for lumber has
been ON the increase recently and
many mills are working on foreign
orders. The failure of the Japanese
rice crop also has had a strongly
beneficial effect on the market for that
staple here.