Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1922-05-06
REPORT GENERAL
STRENGTHENING OF
NATIONS FINANCES
CONTINUED From First Pagc)

in most sections" he said. at seems
cafe prediction from all appear
anccs that business depression Of
the Third District has passed the
crisis and is well on it's way toward
fnll recovery although this will
be gradual process and sudden
spurts arc likely to he followed by
slight relapses. and. as prosperity in
this section will necessarily have to
follow rather than lead recovery in
tho country at large. It seems TO IN
dicatc that to a large extent general
revival In on its way
situation In Cleveland.
Continued Improvement is expect
cd In Cleveland. according to T.. c.
Thomas. Business" he said. Shows
n decided upward trend, and there
appears to be general feeling that
conditions will continue to improve.
Notwithstanding tho fact that the
present coal strike and disorders in
other lines of industry hava TO some
extent. halted activity. The most re-
liable barometer Of business activity
Is tho continued demand for iron
and steel and the district Is expert
encng real boom in building
operations"
Less favorable REPORTS from the
Richmond district were presented by
w j. Schechtcr Enthusiastically. con-
ditions are fair he said. There Is
probably less unemployment than Ia
found in the large cities. The aEri-
cultural situation is serious, but the
farmer Will be able to combat the
toll weev.l well. The commercial!
situation in general is fair. tut moth
ing to enthuse over. Financially.
conditions are probably poor, but
not 90 much due to cotton as to
bad loans In years gone by"
Florida Mt Top OF List.
Florida conditions are better than
any state in the Union. according
To j. w Pole. OF the Atlanta dis
trlct. There Is little reason to
doubt but what real prosperity In
this district. ms we'll IA tho entire
country" lie said. depends largely
on restoration Of satisfactory
foreign demand. but even under the
most favorable conditions several
years OF thrift and hard work Will
be necessary before this section can
hope for complete recovery
Farmers are generally giving at
tention to liberalization OF crops, and
the cost or cotton production Will be
less than last year. The citrus and
truck crops In Florida have been
splendid. with satisfactory prices.
and therefore the situation In that
state IS probably the best OF any
state In the Union"
Considerable decrease In unemploy-
ment in the Chicago district was re-
ported by Fred Brown. AS wc!l as
heavier exports. stock and bond
prices are advancing. he declared,
automotive, steel machinery and al
lied lines expanding. and belief In
the revival of the spring trade Is ex-
pressed.
Farmer Gets Courage nnck.
The morale OF the farmer Is
slowly returning" John 8. Wool. of
the st. Louis district. declared. THE
increase In prices of grain and live
stock have renewed his hope. 1t IS
true that the grain reserves OH farms
are relatively small. and that tho
farmer has not received full BENEFIT
OF the enhanced values. The In
crease. however, has given him
courage. with present prices for
farm products and the present pros
poets for crops, 1t would seem that
tho purchasing power OF the farmer
is In fair way to be restored.
When this is accomplished. great
momentum Will be given the on
ward movement of business that is
already beginning
ReVivins purchasing power of the
farmers was reported by Howard NJ
Sims. Of the Minneapolis district.
From commercial standpoint" he
said. business in the ninth district
has been considerably Impaired by
reason OF the lcsscned purchasing
power OF the farmers. Since March
! there Is. however. an increase
noted III the sales OF merchandise
which is particularly marked in the
sale OF farm implements and ma
chihery. Commercially speaking.
further improved conditions are now
directly dependent upon crop results
OF the present year"
knhsas City "Ovrr the Hill"
Kansas city Ia cover the hill" ac-
cording to T.. X. Roberts. Enhanced
prices for cattle. he declared, have
restored the value of farmers securi-
ties' ana rising values Of hogs and
corn are helping conditions mpasur-
AMY Cotton conditions are good. ha
addcd. and the outlook generally mos,
encournpine
There cannot be an Improvement
uhucr year according to Richard
H. collier, Of the Dallas district. "aud
no great Improvement under two or
three years Two or three ,:ops
nave to be made before Improvement
can be made. The perpetuity of small
banks depends on this Their hone
OF saliva ton lies in the farmers pro-
uuc!"E power" We have been work
ing with these conditions for sew
erhi years ana our thoughts natural
~ run 10 sick banks. and my report.
therefore. Is somewhat biaaed But
conditions arc not good as whole"
Paciiic Coast bankers look 10 in
'ernational effort to bring ahou,
world restoration, according 10 Harry
L.. Mhchcn, of the San Francisco dis
trict. Without doubt" I've said.
conditions have materially improved
during tho pSst six months through
out the whole Twelfth District. How
ever. great many country banks
are stiil in an extended and un-
liquid condition and any forecast as
to future developments or tho final