The Mankato free press. [volume] (Mankato, Blue Earth County, Minn.) 1879-1924, 1923-01-19
BANK HEADS CAST
ASIDE ALL GLOOM
Predict Year 1923 VIII Be
On Up Grade
BUSINESS Is BETTER
No Cause For Pessimism, and
Trade Prospects Will En-
large Somewhat.

Expressions Of confidence that the
year 1928 will undoubtedly round
out as a year of prosperity were
made by the various heads OF the
1--WE banks in Mankato IN state
ments given a representative of The
free Press this morning. The
opinions expressed by the bank
officials in every case were faVor-
able concerning the recent advance
in the price of farm products and
the ultimate benefits TO be derived
by the farmer also its stimulent TO
d. business in general throughout the
city and vicinity.
an some cases the presidents OF
the bank were conservative in
stating that although they realized
better business during the past year
compared with the previous three
years, they looked for slow but
steady Improvement during 1928.
1t was generally stated by all the
played the greatest part in the re-
turn Of normal prosperous condi-
tons. They do not contend, how
ever, the return to normal will be
made during the present year, !but
that there will be a tendency to-
ward better times than in the year
Just passed.
Great Agricultural Region
'-Mankato is in the center OF a
great agricultural district and it is
the basis of our prosperity. When
the times go hard with the farmers,
they tend to affect US in the same
degree. Conditions are improving
slowly but surely as is shown by the
advance in corn and other farm
products. Farmers in this section,
Stingiest man always worries about
and derive more from it than they
would BY placing the product upon
the market. We had a good year
during 1922 but expect better one
during the present year" said w.
w. Davis, president of the Com
mercial State Bank.
Present conditions look exceed
ingly bright for this year in com
parison with last year" said A. J.
Veigel, vice president of the Ma
tional Bank of Commerce. "AgrI-
culture Is our livelihood here and the
conditions of the farmers gives us
an optimistic spirit to start the new
year. Our business in general de-
ponds to a large extent on the pros
perity of the agricultural fields"
Taking the conditions in general
into consideration, we can enter the
new year with optimism and con-
fidence. The farm conditions have
improved in the past few months
and seem to be getting on sound
financial basis" was the statement
issued from w. ID. Willard of the
First National Bank.
Prices Are Coming Back
The prices of real estate and
farm products are coming back to
the level they should be at" re-
marked Loren Cray, president of the
National Citizens Savings bank.
"The prospects for the year 1928
looks as if they would be a good
deal better. We did good business
last year and expect to do better
during the present one"
We still have long way to 90
before reaching normal conditions
but from present indications we are
in the right way" stated L. C.
Nicholson of the Mankato State
bank They are making Jan effort
TO set level for the price of wheat
and other grains in this state, which
would be good thing. but ] cant
see how it will be accomplished
The deposits in the banks arc in
creasing rapidly which is a sure
sign of returning prosperity. I am
confident that 1923 will show a no.
ticeable improvements in business
; and general industrial con ditions.