Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1922-04-02
.DEFLAT|0N OF PRICES IS
BETTER BUSINESS SIGN
Review of Local and General
Conditions by National State
and City Bank.
LOCAL BANKS SHOW UP STRONG
Deposits Arc Moro Than S1O5.8SO,O Oa.
Loans Have Dcrn Materially Re-
durrd md bills Payable nrc Cut
30 Per Cent.

Dctation OF the attitude Of the
public toward cxtravagant buying, as
well as deflation OF prices, is pointed
out as ono of the striking indica lions
OF better business outlook by tho
National State and City Bank in a
review and discussion OF local and
general conditions.
Total deposits in the Richmond
banks based on the recent clearing
mouse report. are moro than S105,-
$4,000. This amount compares sn,cn-
didly with the total shown at Tho
corresponding period of last wear.
while in the twelve months the banks
mere have been able to reduce their
Iohns BY very large figure, and the
bills payable have been cut down
riore than 80 per ccnt--thcse things
giving renewed evidence OF tho
healthy condition of Richmond's n
nancial Institutions.
b"ttcr iIusinrss In Nation,
Within the same period the Ma
! ionai state and City Banks state
'ncnt SHOWS. the nation at large has
made important progress toward sus-
tanned recovery. and through further
advances in the price OF farm pro-
ducts fully $1,000. 600, 900 have been
added since last fall to the purcha.
| ing power OF the agricultural seq
tons. This is bringing better bust
ness to various industries and means
ultimately increased trading for tho
| whole nation
Retter still. the country is develop
| ing a new optimism: business is on
the upgrade and individual initia
i've Is being substituted for the pa-
| tcrnalism Of the war period.
Local nuiidInE ProEressfnE.
Local building. considerably heId
mack for several years. appears to be
showing remarkable activity, and this
tis reflected I'm many lines OF con-
struction. The records Of the city
hulihing inspectors Office show that
at the close OF business last Thurs
day the total amount of buiIdinr n,-
thorized during March was si,374.-
0'c' OF which s1.0l0.256 will be ex-
pended for new work. In March 1921
ia" total was only SlO6o9ll This
year go pieces OF work have been
ansAarized. OF which 4Ss represent
new construction. The amount of
work authorized Is s4,096,sls. From
January l. through March last year,
the total was only s2,033.Oo2.
The building movement hero is
generally Indicative of national con-
ditions. Trustworthv estimates IN
"icate that not less than $4,000. oOo.-
c"o viii be invested this wear
throughout the country In the con-
struction of dwellings. appartmo4t
structures. business buildings. N
deed. business operations now I'm
progress reflect a gain of rs per copt
over last year. and the movement fs
SO strong that permits for the whole
country are likely TO reach $500, 600. :
600 month.
Authoritative financial statements
| show that the bank cle,ripr. A.,
twenty-five principal cities OF tho
| United states for the week ending
March 20 were more than $4,000 600
/ ouo an increase over tho clear,nqa
or the corresponding week OF 1881
by nearly $1,000. 100000. From lam
uary ! to March % the combined
Continued ON Eighth PaCe5