Atlanta tri-weekly journal. [volume] (Atlanta, Ga.) 1920-19??, 1922-03-21

| " LNOSSl W. DoOSOlIJ SSOAAO-
mist, furnishes the following exclu-
sive statement to The Atlanta Jour-
nal on conditions in the mountain
states. '
up to recent weeks, one could
not honestly write enthusiastically of
conditions in the mountain states.
Conditions now look better, how
ever, from several angles. With
the exception of Colorado, the situa-
ton is pretty spotty. The emergen-
cy tariff is helping to some extent
the wool growers. but all stock rails
ers have been obliged to take ire
tmendous losses on their herds. The
banks in Montana, Southern Idaho,
| Wyoming, Eastern Colorado, South
l'eastern Utah, Northern Arizona and
Eastern New Mexico are forced to
renew nearly all their paper, and are
very fortunate to get interest. The
situation is rapidly righting itself,
however, and from present indica-
| lions stock raisers and wool grow
! ers will get very favorable prices for
their products this year. Their po-
sition will also be strengthened by
reduced operating expenses and by
avoiding speculation.
'The mining situation was exceed
ingly dull throughout 1921. The cop
per mines of Utah and Arizona have
been almost completely shut down,
while the lead, silver and other
mines have been running at very
| low ebb. The only activity has been
| in the coal and iron sections Of Col
| orado, due to the persistent opera
| ton Of the Colorado Fuel and Iron
| company. Today there is not on
hand the tremendous stock of copper
| that there was year ago. I really
believe that the copper situation has
turned the corner and am bullish
both on the price Of the metal and
the price of the good copper stocks.
Zinc and lead have not pro-
| crossed so far in readjustment as
copper. Gold production is at a very
low level on account of the small
purchasing power Of the metal in
| terms of other commodities. Favor
able congressional action, in the
form Of a bonus, may help the gold
producers, but this is problematical.
The silver situation is much better,
owing to the sustaining influence of
the Pittman act, which provides for
the purchase of 271 100000 ounces
of new domestic silver at 81 an
ounce, to replace similar amount
in silver dollars melted down during
the war. 1t will take several years
to complete these purchases. Most
producers obtain silver as by
product Of copper, gold, lead and
zinc. Hence the favorable factors
surrounding silver will be over
Swallowed in most cases by the weak
| ness in other metals.
1.-THE worst conditions are found
| to- be in Arizona and New Mexico.
| Manufacturers and merchants can
mot expect to sell many goods in
| these states during 1922.
All money which these people get
they must use for paying their bills.
| Being a director of a very large land
| company operating in these states,
[ know that many of these stock
| ralsers have not the funds with
which to p y for the rent of their
lands. OF course, it is very sad
that these men will not save money
| during good times, for certainly they
made great profits only a few years
| ago. However, the only business
thing to do is to extend credit to
these people. They COZ. up quietly
| S1AiO lIICJ 81 NOWA AiSy
| some day will be making money
again and will Loyalty remember
those who have been lenient to them
during this period of stress. More
over, the condition of the range is
fair and 1922 may be a good rliny
| year.
lone of the important industries
of the mountain states is numbering
Like mining and stockraising, how
| ever, numbering also is very dull
There has been a great drop in the
price of lumber at the mill like the
price of everything else. There is
no immediate outlook for high lum.
Der prices. The lumber people, how
ever, are greatly reducing their
O. rating expenses. Labor has been
cut so I er cent in many sections and
the efficiency of the men is much
greater. The Bolshevist element
which so upset the camps a few
years ago has largely shbsided. The
entire labor situation has greatly i'm
prov &c. Building, however, will pick
up and the demand for lumber will
increase. More lumber should be
sold in 1922 than was sold in 1921
Hence, the lumber people should
keep their organizations together
and not get discouraged. One thing
is certain, timber is growing all the
time. This means that the tracts
will gradually become more valu
able. Every time 1 take a triI
throughout the country I am as
tonisha at the fewer and fewer for
ests that remain. .
THE brightest spots are those sec
tons where oil is being found. II
nearly all these mountain states
there are certain sections where OF
developments either exist or are con
templated. The very act of BORNE
for oil creates a temporary prosper
ity. AS people come into the terri
tory a demand for supplies and la
Dor is created whilr a general op
timism pervades the community. L
oil is finally discovered this means
real new source of wealth. These
towns where Oil Developments are
being CARR on are the ones tina
statesmen should seek. For thi
ason Texas, Oklahoma and adioin
. ing territory were, for some time
: the most prosperous of the southern
western or mountain states. o
course, even in these oil communi
!; ties money is not being spent TO-DAY
as was a couple of years ago
They are now buying Dodge cars in
&C d of Pierce Arrows. But the OF
is still coming out of the ground
cash is paid for the product, ant
TT re no distress .-icepting anon!
spectators who deserve 1t.