San Antonio light. [volume] (San Antonio, Tex.) 1911-1993, 1923-01-01


tonic and Southwest Texas enter the
new year with a business outlook which
is probably brighter than at any time
since the World War. As matter of
fact, virtually every banker in the
city is agreed that this section of the
country at last faces prosperity, after
several years of trial which tested the
very foundations of financial and bust
ness institutions. With rising mar
kets, increased outputs of manufactured
goods, increased demand for labor and
general trend toward conservatism in
investments, they say, business depres-
sion at last has vanished and from now
on conditions will continue to improve.
While there are some who assert that
the cattle industry is still suffering
from a depression which has seriously
affected 1t, and that it viii continue
TO suffer for some time to come, others
even are optimistic in this regard, de-
claring that the last 60 days has regis
tered a market improvement and that
the next few months will find the cat
tlcman agsin on his feet. Although
prices for cattle are admittedly below
Y normal, the optimists point out that
the ranges Of Southwest Texas are in
excellent shape, that many of the
ranchmen already have taken their
losses and started anew, and that pros
poets are bright for the restoration Of
nearly normal prices. The low price
Of cattle, Il is generally conceded, Is
the one one drop Of gall in the cup
Of prosperity which promises TO be
full to the brim during the new year.
Saving Accounts are Growing.
The greatest dissappo ntment prob
ably was registered in the trend Of
business during the weeks preceding
the holidays. A good price was obtained
for cotton IN Southwest Texas and Il
had been expected that business would
boom. Conservatism seemed to have
taken hold Of people. however, and
with the exception Of 'oliday goods.
there was little buying from merchants.
This did not appreciably affect banks.
however, as deposits held steadily.
One feature which is considered very
favorable IS the increase in savings de-
rszits IN the various banks. Virtually
Ue+y bank N me city which handles
R-ings accounts recorded an increase
In this business, despite the fact that
-TInss ordinarily are Withdrawn around
Christmas time. One explanation given
for the increase was the calling in Of
government securities, the investors, as
soon as they were cashed, depositing
their surplus funds in savings &c
counts. Representing a the do the
investment of the man Of moderate
means, bankers say, savings accounts arS
good indicator OF the trend of bust
ness, that is, whether the people are
saving or spending.
Money Is Easy.
Below are brief summaries of the
financial situation in San Antonio and
Southwest Texas, furnished b. loca
bankers:
Franz C. Groos, president of thu
Groos National Bank:
'San Antonio has made big finan
cial progress during 1922, following the
after-the-war slump in prices, which
necessitated business readjustmcnts or
scale never before known. There is
every Indication that such progress,
will continue during 1928. In fact, Il
can be said that, as a rule, San An
tonic merchants and individual opera
tors were conservative, what losses there
were have been written off any they
are now definitely on the upgrade again
During flush times many people for
get conservatism and borrow and buy
on credit on a large scale When I'M
expected profits do not materialize
they then have to work and wait for /,
long time until they catch up again
The cattle business is an example o.
this condition.
"In almost every other line. mer
chants and manufacturers report yery
satisfactory business. The town Il
growing, home building and autOmo
bile buying have been phenomenal
Money is easy at the banks.
The farming outlook is greatly im
proved. Cotton prices should hold,
20 higher. The oil business is lookini
mp for San Antonio and our natura
gas Is most significant sign Of fu
ture possibilities
Less Call for Credit.
Thomas r. Lentz, cas-. .er Alamo Ma
tional Bank:
'All indications point TO a reviva
in business and trade throughout tn
United States. Especially is this tru
in the fields Of production, notabl
steel and cotton. Wholesale and re
tail trade has shown ma lid improve
ment toward the latter part of IN
y year. Along with increases in produC
tion and better prices for agriculture
products, has come Improvement in III
unemployment situation. Some indus
Atrial plants report q shortage in Abol
his surely is indicative ojfenewed II
pstrisl aetiYitE - -
The rising interest rates lately II
US an improvement in business
e has been a tendency lately 70
kants to purchase more freely bu
Us is being carried IN with les
] credit as inventories are small
4mparison TO sales.