The Seattle star. [volume] (Seattle, Wash.) 1899-1947, 1923-12-29
1923 Has Seen Business
Breaking Many Records
Rising Tide of Progress Gives New
Momentum to Future Growth
BY w. b. FRANCE.
business Editor OF The Star

BY w. u. FRANCE.
business Editor OF The Star
A ND now comes the time OF year
II when. In the business world of
the nation, the reviewers review. the
analyxe and the prophets
srophesy. The Seattle business man.
anxious to compare his own past ex'
pcrlencc ana futuro prospects with
those OF the business world In gen
craL reads what the experts have TO
say.
sYes.p he win comment, "hut this
il for the country as a whole. Wha,
Of Scatter"
And what Of Seattle, its past year
and the year to Gomez 1t IL scarcely
moro than platitude to say that
Seattle has had ono OF tho best years
since the gold rush. and that Il Is on
the threshold Of its greatest period OF
development. This has been repeat
ed so often that few win deny It; but
what arc the factsg
Real facts Of business activity arc
often hard to got at with accuracy.
hut there are number OF signs that
mark the path OF industrial prosper
SIS. and which. when taken together.
givo i reasonably correct idea OF
how things are golng.
THE CONSUMER
Is BETTER OFF
To begin with tho ultimate con.
sumcr. !. Unemployment has been
ncgligihle during 1923. and wages
have been good. The consumer has
had money to spend, and he has
been spending Il.
Retail sales in seattle says Har.
old n. Moore. secretary OF the retail
sales bureau OF the Chamber OF
Commerce. have been from 10 TO Is
pcr cent higher this year than last.
Moro merchandise has been sold
siian during tho peak year OF 1918.
when we were In the mids, OF a
lavish spending era. This year. how.
ever. prices have been lower. and
the public has been getting more
goods for It's money"
Another angie OF the consumers
spending power Is found in tho au.
dltcr's office. In 1922. Seattle auto
licenses brought In $1,000; so far IN
1929 they have brought in sf4,4a0.
This may be taken as a fairly accu-
rate estimate in the big gain In the
ranks OF automoSifa OWNERS In Seat.
tle. rejecting an equal gain In the
sales OF automobiles In the city.
That this is not due merely to a
spending spree on the part OF the
citizens of Seattle may be proven by
the records OF the banks The fed.
eraI reserve records show that on
November 30. 1923, Seattle citizens
had o,2To. 2s2 in savings banks OF
the city. while year ago they had
but s5s,75s.2 ss. These figures. which
show a gain OF approximately 20 per
cent, do not take into consideration
the millions In the savings and loan
associations Of the city. most OF
which have made unprecedented
gains.
BANKS ARE IN
GOOD CONDITION
Besides indicating the ability Of
Seattle to save while II spends.
these figures are typical OF the
sound conditions that are reflected
IN the tales the banks can tell. De
posits, exclusive OF savings accounts,
wero $3.50. $4,000 on November 30.
1923. as compared with sl42. $50. 900
on the same date in 1922: a more
than substantial gain over a year
that was far from being a bad one.
Following the story Of the banks.
we find that clearinGs have had n
steady growth. For 1921, clearings
totaled SSH .O00.O 900. In 1922 they
climbed to 1856. 900. 900. From fig
rres available at the close OF bust
ness December Is. with tho last two
days clearings estimated By J. +.
Lawson. manager OF the Clearing
House association, the total clear.
ings for 1929 viii reach 1891 .00O.-
100. Such decided jump TO higher
cvels needs no comment.
Thru the medium of the bank rec,
prds, we are passing from the con.
gunner TO the business man, for in.
dustry and trade is responsible for
the bulk OF clearings. An indication
Of the increasing activity in business
is found in the commercial loans
which amounted to s02.s41 900 on
Nov. 30. 1923. as against .ss1, 573. 00C
the year before.
experimenting this bit Of evidence
Is the fact that Seattle banks have
not needed assistance from the fed
eral reserve TO any extent since 1921
This, according 20 G. r. Shaw. man
ager Of the Seattle branch of the
federal reserve bank. may be taken
TO indicate that business Is normal
or better. and that the banks are ir
sound condition.
1T Is characteristic Of Seattle.
Shaw explains, that its banks need
little assistance from the federal re
serve.
Seattle, fortunately, has no
Seasonal peaks when banks
must come to the reserve for aid
every year. The business Of Sc
attic is such that there is a con.
slant flow Of money circulating
from It's many resources. From
business standpoint II Is an all
year.around town.
80 far as It's business IS reflected
n the reserve system. It Is in goot
shape for an active year"
REAL ESTATE
HAS COME BACK
Those 10 touch with the zeal estate
market Of Seattle know that Il hal
reached a period Of activity that &
not boom. but which indicates tina
Z has struck the normal stride 4
which It is entitled. Here again
there are facts that support the state
rnent.