Arizona republican., 1922-05-22

Talk about musicians and actors
being temperamental! They cannot
beat the average business man who
is up today and down tomorrow.
Within {, period of sixty days he
will be pessimist, an optimist, and
back again TO a pessimist, when all
the time nature is slowly but surely
following its natural course" said
Roger ". Babson in his weekly in
terview on business conditions.
"A year ago business men We're
very pessimistic, then came tenn
porary upturn in business and fol-
lowing the lead of certain federal
officials anc prosperity boomers,
they became optimistic. Since, how
ever, thes. prosperity forecasts have
not matul ed they are again down IN
the Dumps I1ow long will it take
us to learn that presidents don't
make business but rather business
makes presidents. 1t is true that
conditions are dull at the present
time partly on account of the late
wet spring. partly due to the floods
of the sou;h, partly due to the
strikes in New England and New
York state and partly due to the
upset conditions in Europe. When
however, business is looked upon
from a long range it will be seen
that it is passing through only a
natural readjustment which takes
always considerable time I stated
over two years ago that no pernna-
nent Improvement could be expected
before August. 1922, and still feel
that way Even after the corner
turns in the summer or fall of this
year, it will be slow although a
steady climb upward.
ION the other hand. as all in
dustries were not hit at the same
time. they will tend to come back
at different times. The industry
that was first hit will be the first
industry and a change for the better
is already in evidence. The indus
try whicn was most suppressed dur
ing the war will show the greatest
recovery during the next few years;
indeed, it is already recovering. |
have in mind the building industry.
There is a marked increase in the
demand for all building materials,
notably lumber, although iron and
steel are sharing in the building
boom. The sales of hardware and
paints have increased. II labor does
not become 100 hungry for increased
wages. this squirt in new building
may develop into real boom.
"Another industry which should
quickly show better employment is
the automobile industry, especially
the makers Of the more expensive
cars These makers were the first
TO be hi and these should be the
first to come oack. Following booms
in the stock market the makers of
expensive cars and other semi lux
uries always experience good busl-
ness. For the first time in two
years and half rubber factories at
Akron are advertising for help. This
same Improvement in the employ
ment situation is noticeable also in
certain steel Centers such as Youngs-
town, Ohio, and hardware centeIs
such as Ansonia. Conn, where a
wage increase goes into effect May
10th.
Commodity prices are likewise
adjusting themselves naturally.
Those products which were first TO
decline. such as cotton, sugar and
lumber are showing a hardening
tendency wfile other products. such
as furs, that were bought by the
masses during the war in great
quantities are showing continued
declines.
"At the recent fur auctions. silver
fur fox was 25 per cent lower than
in February marten 40 per cent
lower. and other furs are falling in
proportion. Better still, the cost of
living as a whole is still on the
decline. A man can purchase for
IS cents today what cost him a dol
lar a year ago. Retail sales are hold
ing up very well, the mail order
houses are showing increases. west
ern shoe ma manufacturers are busy,
and furniture e factories are working
on a liberal schedule. Even coal
production is holding up fairly we'll.
"All of thi means that there is no