Arizona republican., 1922-06-15

Products Co.: THE decks are clear
and the concern that has weathered
the war period without furnishing it's
reputation for integrity or the reputa-
ton OF it's products can go forward
with courage and conviction. Such a
concern can well afford to advertise
and advertise more largely than ever
before. The mushroom get-rieh-
quick, poor quality, unfair method and
usual wartime bunko sort OF concern
is through, at least through advertis-
ing. The purchasing public now has
plenty of time to look over the ground.
THE textile industry was one of
the first to face liquidation. which
was both sudden and drastic. The
world is practically bare OF cotton
goods. in many places. because there
has been no purchasing power. The
industry Will have no boom. but ii
has been so well iiQuidated that its
chances for improved business are
greatly strengthened Competition,
however. viii be very keen but the
future, nevertheless. looks very much
brighter than it did this time last
year"
This From The National City Bank.
New York: Sentiment in business
circles is much more cheerful than
at any time last year. and this is es-
pecially noteworthy throughout the
agricultural districts. Although price
conditions are regarded as yet far
from satisfactory. and many people
still have a keen realization of the
losses they have suffered. the country
has generally recovered its poise. and
is ready to face the future with. cour-
age and confidence. The security
markets have reflected confidence in
the future of the industries The
stock market has way OF rapidly
discounting trend.
Building operations are on a larger
scale than a year ago, and sufficient
to employ fairly well the workers in
the building trades and building ma
terial industries. The automobile in
dustry is much more active than
year ago, and contracts for railroad
equipment are larger than at any time
since the war;
Outlook for Cotton
Discussing the outlook for the cot.
ton industry, John Bclinger, vice.
president of the National Shawnut
Bank of Boston. says: THE position
of the entire American cotton in
dustry at the present time is funda-
mentally sound because of the thor
oughness of liquidation and the extent
of untitled market demands. The
partial recovery in prices is enenar-
aging. and it is not er-optimistic
to anticipate that the Improvement
will become firmly established il cot
ton prices would but hold steady for
short time 1t is safe to assume
that there are no large stocks either
of raw or manufactured cotton now
held by European spinners. In estl-
mating future markets it Is worm
remembering that during the i've
years of war two great cotton con-
suming countries. Germany and Rus
sia, were entirely cut off as factors
in supplying the worlds requirement
of manufactured cotton. The output
of British and French mills for gem
eral commerce was also greatly re-
duced during that time. While some
surplus of piece goods was piled UP
in the feverish renewal of activity
preceding the break Of a year ago, u
has since been absorbed
Copper Mines Again Active
Only a few copper mines now re
main closed. and, while the price OF
the metal is hardening slowly. II -,
nevertheless. moving in the right dl-
rectlon In market tnat Snoulu Satn
confidence as signs of Improvement
multiply. II is safe bet that copper
metal and copper stocks will be higher
in the fall thal they are now. Opera
tions have been resumed by Titan,
Ray Consolidated Chino, and Nevada
Consolidated. the four leading por-
phyry properties. and the following
are also on the active list: Anaconda,
Phelps Dodge, Calumet & Hecla. OIdf
Dominion. Inspiration. Miami. Calu-
met & Arizona, New Cornelia, United
Verde Extension, and Tennessee COB
per & Chemical