Albuquerque morning journal. [volume] (Albuquerque, N.M.) 1903-1926, 1922-05-06
BRIGHT OUTLOOK
IS REPORTED BY
BANK EXAMINERS
To THEIR CHIEF
CriSSinger Is Told There Is
a General Strengthening
of the Economic Machin-
cry of the Nation.
RECOVERY WILL BE
GRADUAL, IS CLAIM
Restoration of Normal Con-
ditionS viii Not Be An
Overnight Accomplish
ment, Is General Belief.
(By The Associated Press, ,

Washington, May (by the AS
Isociated Press. )-General strength
ening OF the economic machinery
of the nation was reported today TO
Comptroller of the Currency Cris-
singer by the twelve chief national
bank examiners representing tile
federal reserve districts of the
country at their annual meeting in
Washington.
In the main the examiners said
there had been a notable improve
ment in business conditions
throughout the country. together
with restored confidence and a fa-
.Yorable outlook for the future. Tho
belief was expressed, however, that
progress towards normal conditions
would be gradual and not an over
night accomplishment.
Marked Improvement in New
England business conditions was
reported by Herbert ". Scott, Of
the Boston district.
Shows Wholesome Trend.
In the New York district busi-
ness generally shows a wholesome
trend, although still depressed in
all lines, according to d. e. Borden.
Considerable decrease in the
grain ON hand in the Chicago dis
trict was reported by Fred Brown.
as well as heavier exports. Stock
and bond prices are advancing. he
declared, automotive, steel, ma
chinery and allied lines expanding,
and belief in the revival of the
spring trade is expressed.
"tIln n1Orala nf tba farp,nr Ia
slowly returning" John S. Wood,
of the st. Louis district declared.
THE increase in prices of grain
and livestock have renewed his
hope. 1t is true that the grain re-
serves on farms are relatively, small
and that the farmer has not re-
ceiVed the full benefit Of enhanced
values. The increase, however, has
given him courage. With present
prices for farm products and the
present prospect for crops it would
seem that the purchasing power oe
the farmer is in a fair way to be
restored When this is accom-
plished great momentum will be
given the onward movement of bus
mess that is already beginng."
Kansas City "Oyer the HiII.'
Kansas City is "over the HILL
according TO Luther X. Roberts.
Enhanced prices for cattle, he de-
clared, have restored the value OF
farmers securities and rising values
ditions considerably. Cotton con-
ditions considerably. Cotton con-
ditions are good, he added, and the
utlook generally most encouraging.
There can not be an improve
ment under a year." according 10
Richard II. Collier. OF the Dallas
district, "and no great iprovement
under two or three years. Two or
three crops have to be made before
improvement can be made. Tho
perpetuity of small banks depends
on this"
Pacific coast bankers look 10
effort to bring about
world restoration. according to
Harry L. Machen, OF the San Fran.
cisco district.
Conditions Improved.
without doubt" lie said, "con-
ditions have materially improved
during the past six months through
out the whole Twelfth district.
However, a great many country
banks are still in an extended and
condition and any fore
casts as to future developments or
the final outcome is necessarily
predicated upon the results of the
1922 operations.
well informed bankers are OF
the opinion that America and other
world powers must get together
and work out plans for the worlds
restoration and that the process OF
healing tln x,ynrIl
be slow. Slightly better times are
at hand, but the well informed
banker expresses the opinion that
genuine prosperity is still around
he corner"