The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1922-01-23
ADgsss's saaPa BUSINESS AND FINANCE o.
FINANCE
- AND
BUSINESS
Things are getting neither better
nor worse than was TO be expected.

Things are getting neither better
nor worse than was to be expected.
Improvement here 10 offset BY To-
cession there. Eltf+4
Better prices for certain commodi.
ties are reported simultaneously with
declines for others.
Bullish activity In stocks has been
concurrent with q sharp rise In call
money rates.
Satisfaction over the Irish settle
ment has been counterbalanccd by
uneasiness over events IN France.
Occasional good dividend news has
been dampened by the appearance Of
several important annual reports
showing serious losses.
way car loading attracts less notice
than the movement to force early and
drastic rate REDUCTIONS.
Although emphasis IL laid on q
reduction In commercial failures, as
compared with the previous week,
the fact is not overlooked In thinking
circles that bankruptcies are still
running at the rate Of more than one
hundred every business day.
Favorable labor developments at
certain points excite less notice than
the increased Newspaper attention
now being devoted to the darkening
prospects Of a nationwide strike by
both hard and soft coal miners.
One day Secretary Hoover pre-.
diets an advance In sugar prices. but
the next he predicts coal strike.
Steel reports are very mixed. but
the petroleum industry reports out
put at new high record.
The copper people, though hopeful
are still marking time.
Wool is creeping upward, but
grain and cotton prices are still un.
satisfactory to growers.
Ford announces record production
and sales for last year, but most
other companies are passing through
a very trying period, which prices
still tending downward.
The principal foreign exchanges
have stood up reasonably well against
the unsettling events in Europe, but
exports Of American merchandise
apparently continue to dwindle.
And 30 It goes. favorable develop
ments being counterbalanced by un-
favorable developments, the net -.
feet produced being neither pro-
nouncedly optimistic nor pronounced
HOcoAAAotASs
Tho vfsest mental attitude at this
stage IL one Of patience and op-
timism.
AZ to the wisest course Of action,
there need be little doubt. vigilant
overhauling of overhead must now
be supplemented by the most aggres-
sive drumming up Of business.
Moreover, in most lines the time
unquestionably has come for acting
with more courage than was advis-
able not 50 long ago, for we are ,ap.
preaching the time when demand ID
almost certain to expand, and II may
prove costly to delay overlong pre-
pairing for increased business, espe-
cially as stocks Of goods on hand in
many lines are now quite light Hav.
ing been caught with heavy inven.
tories on hand when the boom burst
10 no proper reason for mourning
the risk Of being caught without
goods on hand when the call for
goods comes. Certainly. there IL in.
ftnitely less risk In ordering Foods
rather freely today. now that prices
In most directions are about at bot.
tom. than there was In carrying
enormous stocks when prices were
skyrocketing. -, =
The urge to find employment for
unprecedented amounts Of IDLE money
IN already being reflected by the ac-
tfvity In the stock markets, and Il
can be accepted as certain that In
dustry and general business win short
ly begin to experience q stimulating
influence from the same cause.
Let this thought. however, b taken
to heart: Although We are entering q
period OF easy money. We are little
likely to enter q period Of easy
profits.
The other day I visited Q very large
plant which n doing more business
than ever before. Others in the Same
city were doing either q normal or a
less-than-normal business. InvestiRa-
ton Of the busy plant revealed that
there had been extremely able man.
agement. prompt readjustment to the
changed conditions when the boom
burst, and the most strenuous cam
paign for orders through increased
advertising. q vigorously toned-up sell
ing force, and other aggressive meas
ures. ........r
The current year promises 70 bring
possibilities for satisfactory business,
but to turn these possibilities into cash
in the bank will call for q maximum
of intelligent, energetic effort.
Copyright. 1921. by d. C. Forbss.)
Curb Stocks.
Furnished b. W. =. Hisss . O.
A