The Washington times., 1924-09-30
TRADE OUTLOOK
D|SCUSSEDBY
BANKERS
see Satisfactory Manufactur.
Ing and Improved Agri-
cultural Conditions

NS41AAS&AA1Slts5 Ike k5DRps sOVs AeAAI
proved agricultural conditions, the
beneficial effect OF the Dawes pl0T,
and satisfactory manufacturing con.
ditions are cited as reasons for op-
timism regarding the country'F i'm.
mediate future, by a number Of rep
resentative bankers, from different
sections OF the country, who are
here to attend the fiftieth annual
convention Of the American Bankers
Association. The majority OF the
bankers interviewed referred to the
political situation, expressing the
hope that the people will 80 to the
polls in large numbers In November.
A number Of opinions expressed
are as follows:
WALTER w. HEAD. Of Omaha.
Neb.. president. American Bankers
Association: while d boom In BUSH
ness is likely at this time, Antici.
/ LAte q steady Improvement In gem
eral business conditions. The marked
advance in prices OF farm products.
particularly corn, wheat and hogs,
gives promise OF renewed agricul-
tural prosperity-for the first time
since 1920. This viii materially In.
crease the purchasing power OF
those engaged in agriculturea
number greater than one-fourth Of
our population. This in turn will in
crease the demand for manufactured
products. the natural result of which
will be quickenifg Of trade and
industry throughout the country.
We will probably profit also by
partial anticipation OF the improved
foreign market expected as result
Of the tendency toward political and
economic stability in Europe. The
results of the Dawes program may
not be entirely apparent for some
time, but merchants and financiers
will be inclined to accept the prom.
lse--in part at least--without wait.
ing for actual fulfillment.
The principal adverse element In
the situation Is the danger that the
Presidential election may not be con.
clusively determined at the polls In
November, and that the selection Of
the Chief Executive may be thrown
into Congress. This would cause
much political uncertainty and un.
doubtedly would have 4 disturbing
effect upon business IN general. This
can be averted only IL the voters
are awake to the situation and 60
to the polls in large numbers to
register their choice"
MELVIN a. TRAYLOR, presi.
dent. First Trust and Savings Rank,
Chicago, ILL.,, chairman Of the as.
sociation's economic policy cornnnis.
sion: There has been considerable
Improvement in buying IN most
lines in this section OF the country
In the last thirty days or %. and it
seems to me reasonable to Expect a
volume of business substantial, as
at present. Throughout the rest of
the year. Beyond the next three
or four months am inclined to
think the business activity in this
country will depend more or less
upon the Development Of the general
European situation. see no cause
for extreme pessimism or undue
alarm about our business for the
next year
DAVID r. FoRGAN. chairman
OF the board. the National City
Bank or Chicago: There has been
distinct improvement in the past
three months in many lines Of bust.
ness as viewed from this point.
This has been due to the improved
agricultural conditions in the States
- SAAS WOob oAAO uOELIWGSL OF
us. With the election satisfactorily
out of the way, 1 do not see any
reason why this improvement
should not be continued and en-.
HANGED this fall"
Richard s. Halves, vice president.
First National Bank in ST. Louis.
former president Of the association:
There are a number Of very en-.
couraging characteristics in our
present industrial situation. Buy.
Ing has proceeded cautiously for
many months, inventories have been
reduced, operating cost decreased
by close supervision of expendi.
lures. The business man is assured
OF securing funds for any increased
activities at moderate rates. Bank
credit is available in large amounts.
The European situation is most
promising The Dawes plan is be.
ing placed into operation with every
promise Of peace in Europe for