Perth Amboy evening news., 1923-12-28

activity in the industry cannot con-
tinue forever. The automobile Ii
performing, however, a distinct
function. The difficulty with this
situation Is not that there are too
many automobiles, but rather that
this business is out of line with other
things. 1t would be a good thing
for the country If other lines showed
the same courage and Initiative
which the motor business has ex
bibited.
IT have referred to factory build
ing. Certainly 1924 should not be
q year In which many new plants
should be constructed. Neither Is
it a year when one should stock UP
with a large quantity of commodities
for forward business. There will be
ups and downs in the different items
of the commodity list, but outside o
seasonal rallies, I do not see why the
average of commodity prices should
advance. If there is any marked
tendency, the average for the first
half of the year should be downward
rather than upward.
THE labor situation is one of the
greatest hindrances to a forward
movement. 1t is true that some
wage decreases have lately been
seen and strikes are at a low point,
but the fact remains that the ten
dency of the unions to increase
wages and to limit the number of
apprentices is a serious brake on
industry. The immigration situa-
ton is also not very favorable. If
some liquidation in the labor sltua-
ton would take place, 1 would be
much encouraged. No n can say
there is a shortage of goods today.
If al attempt is made to initiate
business the effect will be bad. If
however, we can work downward n
little, and thus give the consumer a
chance to stock up with goods, this
will help the readjustment along.
Last year, the outstanding oppor-
tunities were found In the big indus
trial centers Of the north and the
east. The agricultural regions were
relatively depressed. There is now
developing a better balance between
thesetwo types of territory. Through
no boom Is IN sight, the farming
sections are gradually improving.
The total value of crops should be at
least ten per cent greater than a
| year ago. The Improvement is es-
pecially marked in Texas and other
parts Of the cotton belt, though some
localities in the south are still in
rather poor shape. During 1924, OPP
portunities should also be found in
parts of the middle west. The wheat
regions will probably remain some
what unfavorable. There are indi-
cations that 1924 will witness a pub
lie construction program of consid-
cradle magnitude and variety.
"One thing is sure, money is dis
tinctly easy and should continue so
during the coming months. This
means that bonds are in a fine posi-
ton. L said SO q year age, and con-
ditions still remain the same. You
should buy good bonds with conf.
dence. AS to stocks. the situation is
different. There is no use in buying
stocks on the minor moves which
we occasionally have.
Where Business Makes Profit
Il repeat, then, that central zone
conditions are healthiest for us and
that boom times are not necessary
for good profits and steady business
progress.
IF we examine this matter of
profits, for instance, we find that the
average American business man is
an 'enterpriser.' The history Of any
n year In his activity may be sum-
med UP at the result Of half a dozen
plans that he put into operation or
projects which he undertook. Again,
we find that these plans themselves
Almost always have to do with the
future. The business man makes his
decision, lays out a course of action,
after a period of time has elapsed
and the project has been completed
it Is to tell whether or not he was
right in his reasoning.
The purchase of commodities, the
settlement of wage disputes, the
decision as to advertising policy, the
planning Of q sales campaign, the
determination of credit policy, and
the financing Of a business are all
factors which call for an anticipa-
ton of coming conditions and a
business mans profits are determin-
ed very largely by the correctness
Of his Judgment In these matters.
IN fact, net profits can almost be
"