Atlanta tri-weekly journal. [volume] (Atlanta, Ga.) 1920-19??, 1922-01-03
1922 BUSINESS OUTLOOK
BETTER THAN LAST YEAR

The business; outlook for the COM
ing year is, a great deal brighter
than it was at this timesa year ago,
it was stated Saturday by Governor
NJ. B, sWellborn, of the federal re-
serve bank Of Atlanta, in sum-
ming up Of the situation. 81.
S Governor Wellborn calls attention
to the following fundamental and
Important conditions, upon which his
estimate Of the situation is based: I
IL. Business concerns have taken
their losses. made their readjust-
nlents, and are now going forward
on lower price levels, while indus
trial activity is picking up, espe-
cialy in textiles.
2. The farming outlook, though
rtain so far as cotton is con-
cerned, is not discouraging, since a
small cotton crop usually brings as
much money as large crop. ,'g
g. The credit situation is better.
with plenty of money at low rates
for the legitimate requirements OF
industry and business.
a. Banking conditions are much
improved, many banks which re-dis.
counted heavily with the federal re.
serve now having wiped out their
| indebtedness.
Text Of Statement
The text of Governor Wellborn's
statement is as follows:
"The business outlook for the com.
ing year is a great deal brighter
than it was at this time last year.
In my opinion, we have passed
through the severest part of de.
preston which was not simply sec,
tion-wide or nationwide in its scope.
but which has profoundly affected
the entire Civilized world.
Business concerns generally have
had opportunity to adjust themselves
to changed conditions. as manifested
| chiefly in d lower level of prices.
| The textile industry, whose condi'
| ton touches this district more vi.
tally, in all probability, than that OF
any other industry, shows consid-
! cradle improvement. There are many
mills now running on full time.
whereas, a year ago, most OF these
mills were shut down altogether.
and still others were being operated
on half time basis.
1.-THE farming outlook, SO far as
the production of cotton is con-
cerned, is in very uncertain state,
on account Of the depredations OF
the boil weevil, and the probable
extension of that insects destruc-
Etive srtiyities over a large area DUR
ling the next twelve months. How
ever. it has been demonstrated on
many occasions that we receive
about as many dollars for a small
J crop as for a large one. Conse.
/ quently, decreased production does
not necessarily mean financial loss
| for the farmer.
Credits Are Easier
"The credit situation in this dis
| trict is far sounder than it was last
| December. Commercial and indus
! trial concerns will have little diff
Guilty in securingt funds at a reason
able rate OF interest, with which to
finance their operations.
| 1.-THE banking business is, gem
orally speaking, on a sound basis
throughout this district. And many
l oo,1, M o,.oioI boy,1ye xSyIioI, J1oua hao1
compelled TO rediscount heavily with
the federal reserve bank, in order
| to take care of their local situa-
tons, have entirely wiped out their
indebtedness to us, and are now in a
sufficiently strong position to meet
| in a satisfactory manner the require.
ments OF their customers for the
| coming year"