The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1923-06-10
BUSINESS MEN
SEE DISTRICT
On FIRM BASIS
Slowing Up In Certain Lines
Simply Movement In Line
With Effort To Prevent
Further Postwar Initiation
NO RUNAWAY MARKET IN
BUILDING MATERIALS SEEN
No Svidence Found Here OF
Depression Which Reports
Say Is Beginning To Be
Feared In Some Sections

reared IN Some SeCIiOnS
Men of affairs in Birmingham pre-
dict distinct continuance, If not an
increase, in present good times. All
declare their belief that prosperous
conditions Will be the order through
out the rest Of the year, at least.
None believe there will be any evil
dence here of the depression spoken
of as apparent in other parts of the
country.
Numbers of leading men in sew
eral lines of endeavor, who discussed
the subject of business and economic
conditions Saturday morning, could
see in the business world. as it is
now, any signs of anything border
in; on depression.
No few OF them spoke of an appar-
ent slackening in the field of build
ing materials and others said coal
was not as active factor as it re
Gently has been, but even these fea-
lures were mentioned as a step more
toward normality than a retrograde
movement.
No Adverse Change Visible.
James A. Bowron, chairman of the
board of directors of the Gulf States
Steel company, sees no reason for
any adverse change in business this
year, though bad crops and condi-
tons in Europe may alter things
later. There should be no depletion
of present business, he said.
Henry l. Badham, president Of the
Btssemer Coal. Iron and Railroad
c>mpany, has noted a slight falling
FIT in steel, but business has every
reason to go forward as it is today
with plenty of employment and SO
az
raid. of collapsing firms in New
YORK were items in the speculative
field, due to Investigations of houses
that were unsound, and have no bear
Ing on legitimate trade.
Charles +. Wood, vice president
Of the Warrant Export and Discount
corporation, said he had recently re-
turned from New York where he
found among men he talked with a
view inclined toward pessimisin.
Many New Workers said they feared
depression.
OF several bankers visited, but one
would comment on business condi =
lions, and he declined the use of
his name, however, he said there
had been distinct falling off in the
steel and steel products continuing
acitve. The reflex from the coal and
tiuuing. The reflex from the coal and
lumber diminution, if it continues.
will be adverse to business. lie was
glad, he said, to see the slack eninS
In the coal and lumber fields as this
falling off in these two fields is an
avoidance of speculative and run
away market. With labor all en-
ployed in this district he sees con-
tnuance of prosperity here for
months to come. What adverse ele-
n.ents are observable are not signs
of bad times, but, rather, slowing
down of superlative activity toward
substantial and normal trade, a
distinct sign of business healthful-
ness.
Simon Blach, member of the firm,
j. Blach & Sons, said business is good
now, considerably better than last
year, with the outlook plainly show
ing a large fall business. He re-
ported the business of his firm as be-
ing far ahead of last season.
Prices No Higher.
Joe Loveman, president OF Love
man, Joseph and Loeb, believes mer-
chandise prices will not go higher,
with the indication that cheaper
goods Will see reduction in price
because of overproduction. Medium
and high priced goods will not see a
price change. The business of his
firm, Mr.. Loveman said, was 33 per
cent better than last year at this
season, and he expects conditions to
remain as lDcy are III lAdl
He has just returned from a trip to
the east, where, in the clothing mar
ket, merchants are not only looking
for but preparing for good or better
times.
Lee e. Anderson of the Birming-
ham branch of Sherwin- Williams
Paint company, finds at least third
better business than last year, he
said, and continuing to grow. While
much Of the volume is due to the
Increased activity in building rev
houses in and around Birmingham,
increasing paint sales, that amount is
measurable, and sales increase Is far
over what difference that would
make. 1--WE are looking for steady
continuance OF good times and are
laying in our supplies accordingly,'
he said.
Prices Cause Showdown.
D. P. Anderson of the Alabama
Title and Trust company stated the
volume Of business of that company
was considerably better than last
year, and last year was the best the
firm had enjoyed up to that time.
March, 1923. was the greatest month
has not been kept up. owing to the
high prices of building materials.
The present prosperity. Mr. Ander-
son said, was clearly reflected in the
increased sales of vacant lots, but as
building prices advanced so far
above normal these sales fell off, as
the public refused to pay the build
ing material prices and so slowed up
in the buying of vacant property to
build on.
The men quoted in the foregoing
paragraphs represent a varied field
of interests. None was told what
any other had said. All werc asked
for their opinions on conditions with
out preliminary discussion. All rep
resent different phases of the bust
ness life of the Birmingham district.
The summary Of their opinion indi-
Gates that Birmingham is doing bust
ness on q sound and conservative
basis, with an evident belief in the
value of normal conditions. as
against a seeking for the inflated
atmosphere the district knew jus.
following the World war.
HELD UNDER PROHIBITION ACT
c. L. Smith, arrested by Deputy
Marshal J. I. Stewart, charged with