The Bemidji daily pioneer. [volume] (Bemidji, Minn.) 1904-1971, 1922-09-16
GOOD BUSINESS IS DUE +.
THIS FALL, SAYS BABS0N
(Continued from Page u

turn with the tide. Inc retailer
should plan on substantial increase
in trade between now and Christmas.
If he does not he will be caught
with shortage rather than sur
plus of goods; and a transportation
tie-up will make it difficult to get
more on short notice.
"Rhis increase in business will be
due to combination of increased
purchasing power and a change in
the attitude Of the general public:
In spite of the strikes and labor UNI
rest there is relatively little unem-
ployment at present. On incomes
over $1,000 figures show that 48
per cent of. the purchasing power
Of the country comes to the individ-
ual as wages and salaries. This
makes up the bulk Of the purchasing
power upon which the average bus
mess man must depend. A. drop in
the cost of living and prospect Of
steady work is rapidly turning a
majority Of these people into ready
buyers. t.-< -
SIN the farming field, bumper
crops and better prices promise to
class the farmer as good pros
pect. He has bought very little since
1920 and his accumulated needs
should absorb a tremendous guam
tity Of farm machinery and supplies
The plans Of the business world &C
cumulated during these past two
years will also be put into operation
this fall. r.. :. ,4 III. ~, :, Z. +
aThe combination Of these sew
eral factors points to merchandise.
ing shortage. # were a retailer !
should certainly buy all goods neces-
sary for Christmas trade now and
insist, upon early deliveries. /5ss
.This general increased business
activity will lead in turn to the in:
creased business and industrial prof
it's that are already being reflected
in the action of the stock market,
Increased profits, of course, mean
more money for expansion and
equipment. Rents and money rates
in the meatime, are tending grad
ually downward. relieving both in
dividual and business house in the
matter Of overhead. Banks have
ample funds to meet all commercial
and investment requirements, In
many localities money is drug on
the market. The: slight seasonal
will doubtless be exper-
epced at crop moving time, but tax
ing the fall season as a whole, money
throughout the west and south should
come nearer to the New York mark
ct level. ~. ~ -. r "a
Gin the investment market, prices
Of good bonds promise to rule
strong this fall. AS investment cap
ital accumulates the interest rates
ease off, bond. prices automatically
rise. As profits and income increase
the non-taxable issues will again be
in demand, The affect Of commod-
ity prices will be more than offset,
for the time being by the quantity
Of money available. Continue to hold
your bonds. @..s 49, / .>-.'z51s
whether or not we shall have a
reaction in the stock market this fall
is not the point. We may get the
break that, the hears are hoping for
or stocks may climb suddenly. The
point of Importance, as I see it, is,
the fact that we have just turned
the corner at the bottom Of period
Of depression and that the stock
market has never reached its high
point until early 4. in the period Of
prosperity. Those who own good
stocks outright need do no worrying
about the market. fop2r.2:5 asT Z
81 In spite Of rail sand coal difficult
ties, general business as REFLECTED
iMs the index of the BabsonchartG is
its owns Activity is now rum
ninE9at 9 per- cent below normal.
PuAESBRED HoLSTEIN