Evening star. [volume] (Washington, D.C.) 1854-1972, 1923-01-03
CREDITS
THING OF THE PAST
ror First Time in Pears Peo-
pie OF U. S. Have Sufficient
Cash in Reserve.
BY j. o .RoYLE.
Special Dispatch to The star.

special Dispatch to The star.
NEW YORK, January 3.-Whateye-
the readings OF the Thermometer NAV
snow frozen credits are thing OF
the past in practically every section
OF the United States this year.
For the first time in years farmers
nave enough ready cash on hand to
carry them through until they marke;
their products in 1923. AS they ID
not have to borrow, their credit is
thoroughly restored and they are able
to do 80 on advantageous terng. The
extent of this widespread credit i'm.
provement is indicated by telegraph
dispatches received within the last
twelve hours.
Credit Conditions Normal.
Ranl officials in the southwest re-
ported normal credit conditions, with
an increase of deposits in both coun,
try and city institutions
Reliable reports from Chicago show
ed plainly that the bulge in the
Christmas stocking of the middle
west. which in Chicago alone repre-.
sented buying in excess of 100000
goo. had left no dent in the savirGl
bank accounts.
Twenty OF the larger state banks
cember 20 their savings accounts
were per cent in excess of the totsl
on September 10. National banks IN
the middle west also reported largs
increases in deposits.
Deposits in the state banks in Min
nesota gained $27.554.513 in 1922, ris-
ing TO total of $437.612.S91, and thu
STEADY improvement in conditions re-
corded in that section during the last
seven months IS counted on to con
H. E.
and live stock men.
Southern Loans Wiped Out.
New Orleans financiers reported to
day that the banks of that section
had practically wiped out their froZen
loans. Country banks have reduce
their Indebtedness so per cent in the
last year, and bankers have no hes
of trade OF the south will be Is or -
per cent greater this year than HI
1922.
In Pennsylvania Christmas saving
clubs accounted for the saving al
S21.9o2,000 in 1922, with a IA per Ger.
increase in the number of savers
Regular savings deposits in Philade',
phia banks decreased rapidly since
November I, but this was accounted
for by the fact that the savings de-
posits paid only 5.65 per cent, where
as government bonds yielded An OF
better and large sums were with
drawn for these latter investments
$1.0OO,O00 More Deposits.
Deposits in Houston, Tex. gained
over 100000 from September 10 u
the end Of the year, and exceeded
800, 10000 for the first time. with
these conditions in view, merchants
are buying heavily for the coming
spring season. The advance guard oE
purchasing agents already has reached
this market. Silks are in excellent de,
mand in this market
The marked increase in agriculture
prosperity in the latter part of 1922
was measured to some extent by the
increases in sales of mail order
houses. Montgomery Ward sales rose
from S75.s56.649 in 1921 to ss2, 474.1s2 in
1922, gain of 81 per cent.
Farmers of the south found con-
fort today in the declaration of Dr.
Miller Reece Hutchinson, managing di-
bureau Of the American Cotton Asso-
citation, that the newly discoverei
mountain Of white arsenic" in Utah
would materially lessen shortage Of
calcium arsenate with which to fight
the pest.
Hard Times in Shipyards.
Especially the seven shipyards
on the Delaware river. two have been
closed, and one Is making trailers foy
automobiles. Another is supplement
ing the building or ships by fabrfca
ton of steel. while still another il
devoting attention to construction OF
oil and steam engines. Some ship con-
struction is going on, but the greater
part of the activity in the larger
yards is on repair work. All are
working with forces well below the
1920 peak.
Banks Get Money Back.
CHICAGO, January (SpeciaD
When the middle west had revived
from its holiday spree. the biggest
in years. reports showed that none
drawn out for Christmas had found
it's way right back to the banks
again.
Buyers are giving overworked store
clerks little rest this week, for the
January sales are drawing splendid
volume of trade. Ready-to-wear gar
ments are being featured this week,
while large sales OF materials are
promised for next week.
Atlanta I'm Business Boom.
ATLANTA, January (Special).
There is little unemployment in this
district. Practically all industries
are running full blast. Common Ia
Dor continues TO drift In small nun
bers to industrial centers of the north
and middle west.