Perth Amboy evening news., 1923-02-24

tHL& '
Roger w. Babson is now on his an
nuaI trip of inspection. With some
10000 miles of travelling he Wi
study conditions in twenty-siX cal
ing centers of the United States.
His report divided into eight seq
tions presents an unusually Valua-
BILE picture of current business cou-
ditions. Section two, which is IS
sued today, treats of New York,
Pennsylvania, Maryland and OhiI.
"As New England was the first
section to be hit by the depression
and the first to recover" says Mr..
Babson. so New York, Pennsylva-
MIA and Ohio being the second SET
ton to recover. In 1920 the center
of the depression was at Bridgeport.
Connecticut; but by 1921 the center
Of depression had moved to Akron,
Ohio. From Connecticut to Ohio
Observation-Disclosures is today in fair
shape. The steel industry is back
to 50 per cent of its capacity; co IL
mining is very active; the carpet
factories and textile mills r eX-
ceedlngly prosperous; the aSricul-
turaI sections and the numerous
small factories of these states afe
getting on much better. New York
city is feeling fairly optimistic. The
hotels are full and the retail stores
are doing a good business There.
however, is no such riotous spend
ing of money in TIE restaurants AMI
theatres as during boom times. Thc
principal industry of New York city
is banking and iobbing. The bank
ers are not especially optimistic
owe the prospect of lower money
rates for 1928, excepting those who
sell bonds. Of course, as money
rates decline the demand for bonds
and bond prices strength
en-. Certain banks have already
been obliged to reduce their div
dends and more reductions may be
expected by other institutions
The jobbers of New York ci@y
are facing some uncertainty. liner
work is very largely importing and
exporting. The tariff has handicap
ped them considerably, notwitd-
standing the optimistic figures on
foreign trade which the Department
of Commerce is issuing. What
ever the figures may show, these
exporters and importers find t
more difficult to do business.
This. of course, means a smaller
margin or profit for all c~oncerneT.
However, there has been a distinct
feeling for the better thu ouShout
the East since President Harding S
on the British Debt Pay
plan. In the midst of all nt
this talk about the cancellation OF
debts, reputation of contracts, &C
companied by a general depreciation
of foreign bonds il surely was stim-
uIating to have the British cora
forward and fatty state that they
are determined to pay US principal
and interest in full. Ccnsider1nE
hat of the $40, 900, 100000 owed to
he United States over one-halt OF
I was by England. this a tremH1
step toward the restoration OF
International confidence Il COM
nerce. The general impression in
he East today is that in retur we
should now help England and give
ler all the credit we can to enable
Ter to buy our farm products. Now
3 our chance for us to demon
that it paws for a nation TO
meet her obligations and protect
Ter creditors. In view of this II
1ther events, the keenest bankers
New York city look for a rather
lctive stock market during the year
believing that the market viii
swing both ways between Ve~y
broad limits, thus giving us both
higher prices and lower prices than
We saw in 1922,
Every time that ! visit the Mo
hawk Valley OF New York state
IN more impressed with its great
activity and its potential resources.
should not he surprised to see
he country, lying between Albany
and Buffalo. traversed by the New
York Central, the West Shore and
the Erie canal. become the greatest
manufacturing section of the Unit
ed States. It's climate is ideal; its
labor conditions are good; it
abounds in agricultural resources,
thus assuring q reasonable COST of
the greatest bituminous coal
of the country are located -
the south and the greatest number
Of available water powers are 0
Gated to the north. These cond4-
are certainly ideal for general
manufacturing of all kinds. Tbs
is close not only to our great
American cities. but it is well 10
Gated for export trade.
'In case we ever establish reel
procity with Canada. this would stll
help the states of New
York Ohio and Pennsylvania.
Moreover, let me add that we do not
appreciate u Canadian opportun-
tiles: Canada is a wonderful couu-
try, and both Canada and the Unit
ed States are making a great mis-
in erecting itselfmcuhb. "Trip