San Antonio light. [volume] (San Antonio, Tex.) 1911-1993, 1923-01-01
BUSINESS DEPRESSION GONE
AND OUTLOOK FOR SOUTHWEST
is BEST SINCE WORLD WAR
Bankers Are Optimistic Over Future Business-Cattle
Appears to Be Only Laggard Toward Prosperity.
Saving Accounts Crow-Money 81 Easier.

| lately 10 improve some.
Sees Hope for Cattle.
Walton d. Hood, vice-president State
Bank and Trust Company:
Business conditions generally N
Southwest Texas in 1928 will be bet
| ter by far than n 1922. Although bust.
ness has not been IS active as expected,
we have every reason TO believe tba' a
marked improvement is in prospect
Crops have been short, but the farmers
got az God price for their cotton. This
helped UNNECESSARILY.
"Lnquidation has been all that could
be expected. Money has been cJnserva-
lively invested, there has been very
little speculation and the tone of the
financial situation generally is health
full. We are all optimistic regarding
the future, knowing that the improved
conditions now prevailing in the East
will prevail here within 4 very short
time.
There is one industry, however,
which still suffered. That is the cattle
industry. There has been n big sup
ply dumped on the market, caused By
forced liquidation and the prices have
dropped. ! believe. however, that even
the cattle industry is destined to re-
cover during 1923. The ranges are in
excellent shape. the demand is per-
ceptibly increasing and there is some
improvement in prices.
"One important factor is the marked
increase in savings accounts, showing
a tendency on the par OF people of
moderate means to conserve their re-
sources. This is sound business judg-
ment and reflects healthful condi.
tiOn generally"
Thrift Among People.
! J. +. Young. cashier Of the Central
Trust Company:
although we expected a falling off
in our savings accounts in December
we were surprised to note an increase
This was due perhaps TO liquidation Of
government securities, war savings
stamps, etc. but it is an indication oil
thrift. While We attribute it partly
to the government calling in its So.
curitiPs. We are of the opinion that il
indicates thrift among the people OF
moderate means, and except the in
crease 10 continue.
Economy on the Farm.
]. X. Beretta. president of the Ma
tional Bank of Commerce:
The year 1922 was net n good year
for buSiness-the losses from shrink
age in values and the flood in our city
were severely felt here and business
had to readiust itself-in other words
shake itself up and make 4 new start
The comeback in WOO, and mOhaiI
! NT,aN,-,, LII f,.,,
disaster and the good price for cottor
also helped out the IA. ming section
During the last few months the demand
for cattle has shown n little sign ot
life. although prices are very low as com
pared with 1919.
prospects for 1923 are decided!
good-a fine season is in the GROUND
and range conditions were never bet
ter. Economy is the rule on the farms
and ranches and in my judgment trad
ing. which is the life Of the livestocl
business, will be resumed. 1t looks Xix,
money will be in good demand ant
that rates will be normal. although
lenders apepar to be more eXactini
and careful about security
ain within
W. X. King, president Of the CT.
National Bank. said:
Conditions locally probably compar
, favOrably with those obtaining in Othe
parts Of this particular section OF n
state. which naturally are not all thi
could be desired.
, "Our primary producers who, d
course, create whatever prosperity "
enjoy, have for more than two year
, been operating at n substantial los
, Their lack Of purchasing power is r.
/, Elected in our every channel of irad'
So long as they, as at present. are IT
quired to sell at a discount and buy 4
! premium, conditions cannot be otE'
than unsatisfactory.
= 1T is not essential 10 progress tbs
commodity values be high. but thG
, values be relatively fair. If, theretOr
: success is To attend our efforts, tn
there must be a legitimate parity b.
tween what the producer buys an
what the producer sells.
"a great deal is. at present, belt
said Of the adviSability of the govern
: ment making further loans 10 our far'l
ers and ranchmen. which might be
: good thing if predicated uFOn all i:
[ telligent base and attended with OtlC
essential reQuirements-the intelligCr
T. marketing of products for instance.
: The ability to merely borrow NONE
: may, and often does, become a detr
= ment instead OF a blessing With bO
rowed funds IL is necessary that IL
money be prOfitably employed. in urdl
that both the principal and intere'
: may be pail. Manifestly anyone ca
operate at n loss. for a greater lPngt
Of time, upon his own capital than
J possible with borrowed money. III
: being true it naturally follows tbs
what our producers need. and VIII.
they muse have, If they are TO surviy
= is gainful occupation.
AN essential commodity is wOr;
I the cost of economic reproduction, pit
. legitimate profit to the producer an
Q this they are not and have not recent
=, been receiving.
1T is far fetched TO talk of geuni
prosperity prevailing in this terrItor
: with our farmers in the thrOes Of d.
e preston and with our Cattlemen, WI
: are the bulwark of our usual strengt
4 receiving less than 80 per cent Of II
p value of the cattle which they are !.
= PEELED TO market. 1t is fact H.
/. farm products have recently undcrgOI
l. a material. increase in prices. This i
crease however occurred after o.
= farmers rad largely marketed thei
, crops.
5 Local conditions, in other line
u show some improvement. Our merchdn
Il enjoyed a substantial holiday trade al
= are feeling good over the results. Mon
J. in the East is plentiful while develo
ments in the manufacturing CCnters al