Indiana daily times. [volume] (Indianapolis [Ind.]) 1914-1922, 1921-12-31

on the financial and Industrial outlook
for 1922 was prepared by an official OF
enc of Indinna's leading financial insti-
tutiOns.)
The coming year, If the viewpoint of
various Indianapolis business men is cor
rect, will not bring to Indiana and the
country generally any definite business
boom. 1t probably will be another year
OF slow struggle to return to basis
on which a maximum number or the
working men and women Of the country
may have employment at such wages
that they Will be able TO live comfortably.
The boom times Of the war period are
gone and it is hoped confidently that
any such orgy of extravaganza and
business dislocation as accompanied them
viii not come again.
Persons, who watch the business pulse
carefully say that, regardless OF the lack
of prospect OF boom times, there is little
room for general pessimism over the out
look toward next spring and summer.
They think that while 1922 Will bring
additional liquidation, It will come usual
II among smaller businesses, which
fourished in the orgy Of spending that
followed the close of the war, but which
are financed inadequately to Withstand
the stress Of such a period Of dedation
IS we now are passing through.
PROSPECTS BRIGHTER FOR
RURAL CREDIT RELIEF.
These men say they feel that the recti-
fcation Of the agricultural situation IN
Indiana and the country at large will
20 far to stabilize business generally,
and il is. OF course a fact that rectlhca-
ton cannot be looked for now TO any
great extent until the next crops have
begun TO relieve the rural credit stagna-
ton which has been the feature Of 1911
Tndiauanolisc bankers, who tour the State
much. saw that country banks through
out Indiana evidence better feeling now
than they did thirty days ago The
smaller bankers have not much addition
al cash these bankers say, but their re-
discounts are growing smaller Que IN
great part 90 the sale OF hogs aud some
grain by Indiana farmer borrowers. ana
the payment Of small percentage OF the
volume Of rural loans, which has been
increasing rapidly since farm products
umbled in price as the readjustment
period set IN.
Country bankers throughout the State
generally take the same view Of 1922 as
do those in Indianapolis They think
? Z
see no relief OF general nature until
tie next harvest. Even ~ that time. as
funds from the sale az crops become
available for the Hoosier farmer. these
country bankers point out that the loans
~ be paid on viii be those which are
today 7lastered on the farms. It wiz
not he quick or an easy change that
brings the farmers generally back -
normal. these men say they believe
Many of the smaller bankers also are
real losers as the year comes TO a close
because Of losses on bad debts resultant
from TIE general situation OF the r1rm
borrowers.
AGRICULTt RI BASIS
OF STATES PROSPERITY. ......-...
Since Indiana is state which depends
to large degree on IFS agriculture for
its prosperity. IT Is apparent that until
agriculture Is rehabiltated the business
/ % the state generally cannot expect TO
( climb back 20 normal rapidly.
Careful banbers and business men IN
/ INDIANAPOLIS aIio po.Gt to the fact that
PEOPLE generau- are prone TO expect q
return AT some near date 20 snch boom
. conditions rs the war produced. This
is impossible. they say. The return
will more probably be 10 q normal state.
wherein business win provide adequate
/ living for the wage Garner and reasonable
profit for the share holder. The silk
( shirt period Is over very definitely Il
/ would appear ara the country is not on
+ the road to retu-n 10 IL.
/ But students If business here believe
I mat the bottom OF the business depres-
! sion probably has been reached In most
lines Of business From now on busi-
Z 81 Ia a
through a very gradual rcadjustment
/ II many dislocated factors for which the
/ war DAYS were largely responsible.
THRIFT BIG FACTOR.
! N READJUsTMs ".
! That this ret,lu % normal is TO be
brought about principally by the old,
/ old methods Of readjustment is certain.
Thrift must become the guiding finan-
cial instinct OF tho home, production by
! individuals must be intensified in all
channels OF industry and repayments of
debts must go forward as rapidly as
+ possible. IL the reimbursement is to con-
/ tinue uninterrupted throughout 1922.
/ Much Of the completely and uncertain
/ ~ Of the postwar years has passed
with the last six months and the business
pathway ahead Is relatively clearly dis
/ cernlbIe. indianapolis business men say
I the feel that perhaps there viii be hnsn-
ciaI read iustment in some OF the larger
/ lines Of industry, such rs the sutomo-
/ tive lines, before the country reaches
complete business stability again. Ger
/ tain additional: reductions in wages may
also be in prospect, since price declines
/ in some lines OF activity have been
greater than the corresponding decline in
ges received by workers in those lines.
/ General absence Of extensive labor trou-
bles has been causo for congratulation
/ during the past yea=.
Many businesses, 1t is pointed out,
have bridged the gap between the easy
sales years Of the war and the lean pres
! ent by intensified salesmanship and this
has been particularly apparent in the in
creased advertising resorted to by many
business executive. The good will build
ing by advertising. resorted to SO fire.
duentIy Immediately after the war by
| companies having war profits TO invest
! 10 best advantage, has been supplsnted
/ in many quarters by the development Of
( 1921 advertising programs. intensified as