Great Falls tribune., 1922-04-16
BUSINESS HOLDS REGULAR
WITH TRADE IMPROVED
By Wells Dickey Co.

The general business situation II
the United States continues to be reg.
| ular, while trade generally has i'm.
proved since the first OF the year, yet
| insolvencies in various lines continue
| to run heavy. This is naturally to be
| expected in those businesses which
were over-extended during the war and
in which there was not enough of q
cash reserve built UP to sustain heavy
losses which periods of depression in
evitably bring. Reports from depart
phia, Chicago and Minneapolis all in
dicate resumption of buying, trade in
some centers being equal to that Of a
year ago and others actually exceeding
that figure. Basic industries generally
showed an increase in business. Re-
ports from the Ninth federal reserve
district show cheerful outlook in the
agricultural regions while in the Pa
cific states decided upturn is re-
ported in all lines. The department
of commerce reports also reflect gen
eral optimism with mill and factory
outputs on the increase and manufac-
tured exports showing healthy
growth.
100 Economists Organize
One of the most cheerful bits of
news coming at this time is the an
nouncement of organization of the Ma
tional Economic association by about
100 Of Americas leading economists
1t is contended, and rightly so, that the
tendencies in the daily press and in
many national magazines featuring
moving pictures and other inconse-
quentials is leading to less and less
analytical thinking on the part of our
population. with the result that eco
nomlc issues SO vital to general busi-
ness betternlent are either being badly
obscured or are not being studied at
all. Any movement seriously con-
ceived and designed to spread better
economic understanding certainly will
prove a vital force for business stabil-
ization. Take, for instance, the single
item of investment. If the American
population generally could somehow
receive an education in the funda
mentals of safe Investment and thus
could be protected from the schemes
of the ''getrich quick" operator. what
tremendous saving would result and
what tremendous amounts of money
would remain in the channels of legiti-
mate trade. After a saver is '.buncoed"
out Of his hard earned savings he be-
comes less inclined to save because his
confidence is being undermined. so any
movement leading to the elimination
OF these tremendous investment wastes
not only would mean a direct saving of
the amount involved. but also would
prove an added stimulus for sensible
thrift.
Coal Strike
While there was considerable appre-
henslon as to the effects of nation
VIDE coal strike upon business gener-
ally. security markets and other in
deSes failed to register vital concern.
Inc supply of bituminous today will
keep our industrial plants running for
about 40 days if the coal is properly
distributed. Production in the Union
fields has been seriously c,1rtailed and
IN some instances practically stopped
entirely. but nonunion operators are
stlli at work. Reports from the nom
union fields of the National Coal asso-
citation state that production is running
at various rates at 10 to 70 per cent
OF normal and that the only reason for
the failure to produce more is the in
difference of consumers. Thousands
OF cars are standing on the mined sides
and in the railroad yards awaiting or
ders. 1t is evident that if coal con- I
sumers will go into the market at this j
time nonunion men are ready and will |
ing to increase their output substan-
TALLY. The present situation indicates
no anxiety with respect to future |
stocks of coal Large amounts of coal
produced in the union fields during
the few weeks preceding the strike |
are still unsold. Union workers state |
that they are prepared to remain out /
or until their demands are !
met, but there is belief in many quar- !
ters that the contending factions will |
soon come to terms.
The Bond Market
The bond market continues its grad
ual upward course with enough Of new
ssues to stimulate buying interest. Pub
lie utilities as a class are showing a !
distinct improvement which indicates |
gradual return of public confidence
in this industry. Operating statements
Of number of leading public utility