The Washington times., 1922-10-05
BUSINESS BOOM
IN ALL STATES
BANKERS FIND.
Conditions in West lauded by
Financiers at New York
Sessions.
BY JOHN c. KLEIN.
CosmopoIItan News Service.

bankers here attending the annual
convention of the American Bank
ers' Association agree that business
conditions ia that section are bet
ter than they have been for a long
time, and that the outlook Is. en-
coura ging.
William G. Edens vice president
OF the Central Trust Company of
Illinois, of Chicago. said: There
can be no doubt that the business
situation has improved, and Ia con.
tinuing to do so, in Chicago.
I'm fact, conditions in New York
do not impress me as being as
good as they are there. l was sur
plised to see so many vacant
buildings here, while the hotels are
not all filled except during the
present week, due to the fact that
the convention is on and that the
national baseball series is being de-
cided, both OF which are drawing
large crowds.
zone reason for the business bet
terment in Chicago is that the coal
and railroad strikes are settled. Chi
cago, being, of course, the most I'M
portant railroad center in the coun'
Y,
than in other sections. Then there Is
! a returning confidence in trade cir
cles, which feeling extends not only
TO buyers, but, in fact, TO the public
| generally"
Sees Aid in Tariff Law.
George NJ. Wallace. vice president
of the Security Trust and Savings
Bank of Los Angeles. Cal. can see
nothing but encouragement in the
business situation so far as his sec.
ton OF the United States Is con
cerned.
The enactment OF the new tariff
law has helped California fruit and
allied interests a very great deal.' he
said. Almond growers in particular
are experiencing its beneficial effects,
but the law has helped the entire
State, also. Then more oil wells have
| come in throughout various sections
Of the southern part Of the State.
THE number OF visiting tourists
| from the East and elsewhere nave
commenced to arrive in larger num-
bers than ever. Many of these Will
! remain. or return later. Los An
! gelcs is always a busy business
! city, but we are feeling a decided
| increase In trade. due. no doubt.
TO general settling down and
! toning up after a period OF depres
! sion which has existed everywhere,
due to various causes.
"A visiting eastern banker who
I met in Los Angeles a couple ot
weeks ago, said to me: L have
never in my life seen so much
money in circulation in city OF
| this size as in Los Angeles And
he was right. No city could fail
to be prosperous with the money,
class Of people and energy that
we have in what we claim Is the
! metropolis Of California. And the
best of it is. our prosperity is con-
stantly increasing"
Optimism From Detroit.
Frank w. Blair. president Of the
Union Trust Company OF Detroit,
is exceedingly optimistic about
trade conditions throughout the
! country in general, but more spe'
officially in Detroit and other parts
| OF Michigan.
! "I believe Detroit Is reacting to
| business depression which existed
more or less everywhere. to a greater
extent in many Eastern cities" he
said. Bank deposits, sure ba-
rometer of business conditions, have
| increased very noticeably. The
settlement Of the railroad and coal
strikes has done much to aid in the
improvement OF trade. I have every
reason to believe the situation will
! become even better"
J. b. McCargar. vice president OF
! the Crocker National Bank Of San
| Fra nCisco, declared that the passage
of the tariff bill has been Of very
great benefit not only to fruit grow.
ers in California, but more or less
| indirectly to every other line OF busi-
ness.
Pacific Coast Betterment.
I'VE felt the impetus the creation
OF the new law gave US almost at
once, as might have been expected,
with fruit so important a branch Of
| CALIFORNIA; trade" he said. THE
settlement of the coastwise seamen's
strike, of course, aided Pacific coast
| shipping interests. California bank.
ers agree with Eastern bankers that
! the outlook for business is materially
encouraging.
San Francisco, with its progress
sive and prosperous people, Is enjoy
| ing excellent trade conditions, with
every respect of still increased bet
terment. We have no cause for com