Omaha daily bee., 1922-05-07
Bank Examiners
Report Business
Slowly Mending
tion-Morsle Of Farmers
Improvement Throughout Na.
Gradually Returning,
John s. Wood Says.

examiners representing the fedora
reserve districts OF the country a
their annual meeting IN Washing
ton.
In the main the examiners sale
there had been a notable improve
ment IN the business condition.
throughout the country, togethe
with restored tariff and . favorabl,
ouilool; for the future. The belle
was expressed. however. that prog
ress toward normal conditions woul,
be. gradual and not an overnight, ae
complishment.
Marked Improvement in New Eng,
land business conditions was report.
ed by Herbert Scott OF the Boston
district. Although material prices
been reduced. he declared. they are
still much higher than those of pre-
war times.
- Crisis Passed.
Philadelphia is well on the way 10
recovery, Stephen L. Newnham re-
ported.
with strong tendency toward
increase in manufacturing produc-
ton. increased building operations,
reduetion of unemployment. inven-
tory losses overcome, all lines of in
dustry operating on sounder basis
and with good crop prospects in most
sections" he said. ii, seems a safe
prediction from all appearances that
the business depression of the third
district has passed the crisis and is
well on its way toward full recoy-
cry"
Continued improvement is ex-
pected in Cleveland, according to
r. c. Thomas.
: Less favorable reports from the
Richmond district were presented by
W. ]. Schcchter.
"lndustrially. conditions are fair"
he said. There is probably less un-
employment than is found in the
large cities. The agricultural situa-
tion is serious. Financially condi-
tions are probably poor, but not so
much due to cotton as to bad loans
in years gone by"
Florida conditions are better than
cHy statS III tuS uiiioi, dSNoiuuiS "
]. w. Pole Of the Atlanta district.
"There is little reason to doubt but
what real prosperity in this district
as well as the entire country" he
said, depends largely on a restora-
ton of satisfactory foreign de-
mand, but even under the most favor
able conditions several years of thrift
and hard work will be necessary be-
fore this section can hope for COM
plete recovery"
-. Decrease In Grain Stocks.
Considerable decrease in the grain
on hand in the Chicago district was
reported by Fred Brown. as we'll as
heavier exports. Stock and bond
prices are advancing, he declared, au-
tomotive, steel, machinery and allied
lines expanding and belief in the re-
,vival OF the spring trade is ex-
pressed.
"The morale of the farmer is slow
iy returning" John S. Wood Of the
St. Louis district declared. THE in
crease in prices of grain and live
stock have renewed his hope. 1t is
true that the grain reserves on farms
are relatively small and that the
farmer has not received the full bcne-
fit of enhanced values. The increase.
however, has given him courage.
With present prices for farm
products and the present prospect Tor
crops, it would seem that the pur-
!, chasing power of the farmer IS in
fair way to be restored. When this
is accomplished great momentum will
be given the onward movement OF
business that is already beginning.
: Reviving purchasing power OF the
farmers was reported by Howard M.
Sims of the Minneapolis district.
"From commercial standpoint,
he said, business in the Ninth dis
trict has been considerably impaired
by reason of the lessened purchasing
power of the farmers. Since March
/, there is, however. an increase
noted in the sales of merchandise,
particularly marked in the sale OF
farm implements and machinery.
Commercially speaking, further i'm
proved conditions are now directly
dependent upon crop results OF the
present year."
Kansas City "Over the Hill.
q Kansas City is "over the hill" ac-
,.rording to Luther X. Roberts. En-
hanced prices for cattle, he declared,
Shavc restored the farmers securities
and rising values Of hogs and corn
are helping conditions measurably.
= There cannot be any improvement
within a year, according to Richard
ri. Collier Of the Dallas district,
ssand no great improvement under
..1wo or three years. Two or three
trops have to be made before inl-
provemcnt can be made. The per-
petuity Of small banks depends on
this"
Pacific coast bankers look to in
ternational effort to bring about
world restoration. according to Har-
nv L. Machen, Of the San Francisco
district.
without doubt" he said, "condi-
stions have materially improved dur
ing the past six months throughout
the whole Twelfth district. How
ever, a great many country banks
are still in an extended and unliquid
condition and any forcesat as to
future developments or the final
outcome is necessarily predicated up
on the results OF the 1922 opera
tions."
iCloudiness and Showers