Arizona republican., 1922-06-15

The writer learning OF Korricks'
Prosperity Sales advertised in todays $
issue of The Republican. paid visit
to the store and interviewed Mr.. ABE
Korrick to learn what it was all
about and to get his views on the
subject of business recovery. An
hour spent within the walls of this
gentleman's sanctum furnished the
following facts:
The end of the first quarter of
1922 finds the country emerging from
the business depression which began
in the summer of 1920 and reached
its lowest point in the summer OF
1921. The evidences of this recovery
are numerous and unmistaka BILE
Among these evidences there are
eight that are of fundamental i'm
portance. They are as follows:
I. Prices OF staple raw materials
are advancing.
2. The production OF iron and steel
Is increasing. The March earnings
of the U. S. Steel Corporation were
the largest since February, 1921.
8. The prices of stocks and bonds
are rising
A. The volume of unemployment is
diminishing
5. Interest rates are falling.
g. The amount of building con-
struction is growing.
z. Much interest in Pima Ions
staple cotton market and prospects
of soc short staple cotton.
3. Copper mines again active.
These eight conditions taken to-
gether mean that business is recover
ing. Since the Civil War there have
| been in this country seven great
| business depressions and each time
the recovery has been marked in its
early stages by the same significant
developments that are now apparent
Signs of Recovery Reliable
| 1t is safe to say that these signs
| of recovery are reliable, for if en-
| ployment. construction. production
| and prices should continue to ad-
vance, prosperity would shortly be-
come general. 1t is not safe, how
ever, to predict how lopg they vii
/ continue TO advance, or that the re.
covery now under way will be com
plete.
In the long depression from 1898 t.
1897 there was a recovery of bust.
ness to almost normal proportions II
! 1895, followed by second decline
| 1t would be unsafe to predict tha
| such development could not be re
peated this time. but 1t Is safe Il
] state the definite and typical symp
| toms of business recovery are nov
present and that Improvement i:
| under way and gathering momentum
| In previous periods of recovery tn,
length of time taken by general bus
| mess to get back to normal has var
/ led considerably. In the depression
| of 1884 1t took about one year and |
half for the recovery to run from tn,
| lowest point of stagnation back t,
the line representing normal condi
| tions. In 1894 and 1895 the perio,
| of recovery was the same, but thi
time it was followed by another reac
tion in 1896. from which substantial,
complete recovery took another yea
and a half and full recovery a yea,
after that, or two and a half year
| in all.
In the depression of 1903 to 1904
and again in that of 1907 to 1908, tn,
recovery from the lowest point o
| depression back to the normal lin
required a year and a half. In th
short depression of 1914 and 1915 tn,
| recovery was much more rapid
| From the slow business at the end o
1914 conditions went forward rapid.
to wartime prosperity, crossing th
normal line in about eight months.
In the pr. sent depression the low
| est point OF business stagnatiol
| appears to have been reached in tn,
| summer of 1921. If the experience o
! earlier business recoveries is repeated
this time it would be reasonable t,
expect the present recovery to con
tinue irregularly during the presen
year, and reach by the end of th
year a condition that might be de
scribed statistically normal, bu
| which would be considered some
thing less than that by most bushes
men.
During the first quarter of 1922
the number of failures in the Unite,