Atlanta tri-weekly journal. [volume] (Atlanta, Ga.) 1920-19??, 1921-03-10
BUSINESS OUTLOOK
IN THREE STATES IS
HIGHLY GRATIFYING
StabiIizing Conditions Seen
in Northwest - Cotton
Acreage in Texas Cut %
Per Cent
BY L. S. McKENNA.
LEASED Wire Service to The Journal.)
Copyright 1921

Copyright, 1921
ST. PAUL, Mimi, March 9-The
northwest, covering that part of the
United States commonly called the
bread basket of the nation is on
an era that will lead to the STABILIZE
1 ing of business conditions and the
bringing of prosperity to the pro-
Queer, the worker and the employer.
This, in substance, is the opinion
of the Twin City bankers, who~a are
in a position to keep their fingers on
the business pulse of this section of
the United States. They, as well as
leading business men, can see moth
ing but steady improvement in con-
ditions
The greatest drawback to an on
ward business movement that this
section has had to contend with has
been the difficulties of the banks in
North Dakota. the state where the
non-partisan league has had it's
stronghold. The situation in that
state would have been more critical
had not the financial interests of
other states of the Northwest fore
seen such a crisis and prepared bus
mess for the blow.
Reasons for Optimism.
There are various reasons why ST.
Paul and Minneapolis banking inter-
ests are optimistic, but foremost are
the liquidation of farm paper by the
country banks; the United States SUI
preme courts decision holding the
farm loan act constitutional, which
will result in the release of millions
n frozen credits; and last, but not
least, the increase in retail business.
The decision holding the farm loan
bet valid probably means more to
he northwest than it does to some
bther section of the United States,
because agriculture is the chief oc-
eupation of this region. Before the
land banks were forced to suspend
functioning by litigation, the st. Paul
and bank led other regions in loans
% farmers, totaling over S47,500, 900.
Encourages City Bankers.
E. G. Quamme, president of the To-
:al land bank, thinks that applica-
ions for new loans will exceed $780,
poo now that the status of the banks
las been cleared up. This will mean
hat S5O,00O,O0O of commercial bank
unds now tied up in farm mortgages
will be diverted to other business
Ehannels in the northwest alone. This
II itself will be big aid toward
baking easier credit conditions. en-
bling an expansion of buying power.
The liquidation Of farm paper by
he country banks is very encourag
ng to the city bankers. They declare
has decided to resume business on
vide scale. This eventually means
prosperity for the farmer, and when
he farmer is prosperous the whole
latioh becomes prosperous. 81.
Consumers Buying Freely.
The increase in. retail business has
been very noticeable. An Indication
hat the people are buying freely
gain is found here in the anniver-
AIRY sale of one of the largest de-
bartment stores in the northwest.
entS in sales exceeds 25 per cent.
This is more remarkable when it is
aiken into consideration that prices
re from 80 to so per cent lower than
hey were last year.
Wholesalers report they are getting
n their accounts from the country
Merchants.
There is a great deal of unemploy-
nent in the Twin Cities, but there
S no suffering as nearly all laboring
nen saved enough of their wages to
meet this crisis.