The Washington herald., 1921-04-10
SEES IMPROVED
BUSINESS TONE In
LOCAL DISTRICT
Adair, of Wash. Trade
Agency, Is Optimistic
:. Concerning Future.
OTHER LOCAL NOTES
Mellon Calls in 10 Pet. of Re-
naming Funds on Deposit.
BE- ID. C. Issues Listless.

A marked Improvement in the
business situation is foreseen by J.
A. NJ. Adair, president Of the Inter-
national Finance Corporation. based
on new business that is being han
died at present by the corporation.
Manufactures and merchants"
said Mr.. Adair yesterday, ARE
going out after business In a way
that promises recovery within
reasonable time from the depres-
don from which we have been suf-
fering. Salesmanship is being re-
-vfved. Prices are being lowered.
The business public at last realizes
that goods, to be moved, must be
sold, and sold hard"
'Ns-a CORPORATION Flourishing.
The International Finance Cor
poration, organized in Washington
a year ago to handle trade accept
ances and open accounts, Is now
handling, according to Mr.. Adsir'
- business on a basis of s5,Oo0,0O0 =
year. Collections within the last
month amounted to SS3O,o0O, ana
new business placed reached total
of s4I2,5oo, a considerable increase
over preceding months This Is
taken as a strong indication OF
&. business Improvement.
Retail trade continues in a sur
prising volume" said Mr.. Adair,
"in view of the low prices of farm
products, with the consequent re-
= duction in the buying power OF the
q farmer. Wholesale distribution Is
fairly good as well.
when We take into account the
business situation over the world
and the great fall in prices Of all
= raw materials, there is every rea-
SON to congratulate ourselves that
the situation today is not worse
than 1t is. There has been a buyers
strike, but the present volume OF
retail business shows that there is
a considerable reserve buying
power throughout the country
Stocks are being reduced on all
sides to meet the fall In prices. and
when retail prices have fallen still
further, buying should increase to a
corresponding extent. As mer-
chants get rid Of their high-priced
stocks they are in a position to sell
at lower figures.
There is not as much unemploy-
ment as was looked for. 1t is ex-
tremely encouraging that employ
, erss generally are reducing wages
no faster than the cost Of living has
fallen As this readjustment OF
costs continues, industry may be
expected to get back to normal pro-
duction. There Is not the amount
Of friction that might be expected
to accompany such a drastic re-
adjustment as we are going through
at this time"
Mellon Calls In Funds.
Secretary of the Treasury Mel
Ion issued a call yesterday morning
to national banks. through their re-
gioaal banks. for the payment by
next Tuesday of 10 per cent of the
proceeds remaining on deposit aris-
ing from the March sale OF Treas
ury certificates.
This call will aggregate approxi-
nately $5o,ooo,o0o.
Local Securities.
The display of strength on the
part of shares of the Capital Trac-
tion stock was the only happening
on the Washington Stock Exchange
yesterday morning worthy of COM
were disposed Of at SO.
Washington Railway preferred
stock continued to hold firm at So
as did Capital Traction bonds at
s715 and Federal National Bank