Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1922-01-01

country todns than they were come
months ago. and In the sunlight OF
publicity the forces OF evil nre more
readily overcome,
Unlike some Of the European
countries deracinated nnd pnrnIyxed
by war. our capacity for creating
wealth Is not only unimpaired, but
largely Increased beyond what Il was
at the outbreak OF the war In 1914.
"Amsns tho artificial. Influences
which are delaying tho return to u,r.
maj conditions are certain Of III.
trusts aud semi-trusts. and many re.
tail dealers who are still endeayvr,nn
to maintain the prices Of mnnufac-
tured products at levels whici, arc
OUT Of all proportion To the tust of
tho raw material, and the prices
realised for the products OF farm and
forest,
II believe tina: for 1929 we wi,l nd.
vance, generally, In tho right d,roc.
ton with occasional hslta and set.
backs,
"It Id now within ths power of n
few men who controi
sofne of our creates. manufacturing
interests md Of others ut tho head
OF banking and financial anairs by
the exercise OF courage and wisdom,
or By yielding 10 narrow views and
false and selfsh policies, to espedito
or delay our restoration to pros.
perity.'
IL. y. Phillips,
The views Of II. =. PhillIps. prcsI.
dent Jof tho broadway National HANK.
follow:
Loss on inventories to merchants.
tho low price 10 farm products, on
forced best necessary liquidation o.
baaE erehita wrrs among tho points
:" chief concern at tho beginning OF
)o2l. Mono u, thvso conditions i'm
proved rvrins The firxt hal. az tho
year 1"t no.! the merchant can As
pr:"ai With Reasonable certainty.
farm products arc low. but stable.
and on cotton aud tobacco tncro has
heen marked ?.ira Improvement md
liquidation % credits hua been nr,o.
tcaiiy accomplished.
Inc year closes. therefore, not
happily :or all. but with less Of fenr
for tho coming year. in which ten.
h'ncies are likely to be FOR better
ment. but moving slowly. and, like
this year. the last half better than
tho frst. But efficiency, economy md
industry viii. rs usual, put things
over the top"
Merchants National Dank,
III me absence ~ tho president,
John Kerr Branch, the Merchants
sauonai bnnk released the following
o'hcial statement from the institu-
uoh' settins forth It's belief as To the
Ne" year and commenting rpou con.
d.tons in 1921:
ono thousand nine hundred .,,
twenty-five Offers bright nr,.,,,.
Prosperity is coming back tIr,.,
p'o' n'eht Is decreasing and ind.ca-
POINT To mulch better Inc
although our progress at TINS
''hie may seem slow 10 sJme.
INC man or concern who has
Inc su-calieu storm of rn
, '"'"s VIII come up smiling II
-. c.ices the virtues OF hard work
ana iaith that nave charac
~ "i.ihy fnSh and cOnuern.,
'his year. and this applies cspec,,,;,
to our .ity.
Lets all fight the -ood fight for
better business and n better .T,t.,,
mond in 1922"
w. III. Slaughter.
w. a.. Slaughter. vice. president of
'He oih Dominion Trust COMPANY. in
u statement for his Institution, says.
Last June we turned the corner
Tor better and brighter ,nings. Bus;-
ness mas stood well the drastic real
'ustment OF values which we wer.
MI forced 10 face, owing 10 condi-
IONS brought about after having
passed through one of the gr,ate.,
wars history has ever recorded ,,he
captains OF industry are TO be con
Sratuiatcd upon the magnificent way
BUSINESS interests OF the country
nave been preserved. We have CONT
dencc in The country ana believe TINT
nara work and economy on the mart
Of the people VIII spell prosperity for
us all. In tho South cotton and to
hacco haNe greatly enhanced in value.
mus aNordinG our many financial in
situations nn opportunity 10 llquidatc
part of their frozen credits
we feel that nfte. cages have
been adjusted to present conditions
all business will DO placed upon
more solid basis. which spells greater
prosperity for the future
We have great faith in our people
ana their ability 10 do things Amer
lea is recognized rs the leading ,,a
ton of the world and the duty OF ne
all Is 10 see that this high standard
IL put foremost In our minds AMI
work towards that ond.'
Henry T.. Litchfnrd.
Spcaking for the newest, yet one
Of the most progperou. banking In
atitutions in the city. uenry l.. Litch-
ford. president of the Federal Trust
Company. writes:
I'VE are entering tho now year I'm.
der better conditions than We did the
one now explring, but ] am OF the
opinion to hold on to what has been
gained, aad to further improve our
opportunities. we should .,ot relax Ia
the splendid spirit OF standing to-
rether, in forbearance and co-opert-
3oD which has been - mauifes;
these past twelve months
Tho t!rac has not yet come "a press
IL" other f.ilo", Wien Il; can, in rea-
scuriilG s3geiT. Lr awaited
John Y. Wilson.
From John r Wilson. president Of
the Bank Of Commerce and Trusts.
and Of John T, Wilson & Co. ono of
the largest contracting ronpanies In
the United States, Ia.,mutely nc
ruainted with the tinAuu.ei and eco
BY BROAD STREET