The Seattle Star Newspaper, January 3, 1925, Page 19

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TURDAY. JANUARY 8, 193 Babson Reviews Final Adjustment Year Here, Says Statistician Many Disappointments tn 1924 but the Out- look Is More Favorable for 1925 BABSON PARK, Mass, Jan. 1, —Roger WV, Babson, the statistician, reiurning fron a trip that has taken him into practically every section of importance in the United States and Canada, today summarizes his finding on the general business situation and analyzes the trends that promise to shape our fortunes for the New Year, Bankers and bus cashiers and clerks. farmers and factory workers, merchants and manufacturers, will all fine much to think about in the facts brought out by Mr. Habson's observations and studies. A DIFFICULT YEAR two a ages, but certainly there here which many Exports Imports Commodity (Brad. Index) f. stock exchange. {Shares traded) 3%, Railroad gross per mile 12, Car loadings (No. cars pe 266,800,000 Inc. $24,900 Dea 7 927,000 = Dee. steel orders. 6,009,000 000 ly averag: e) Production. oe 49,059,000 30,445,000 — Some 1924 figures estimated where totals fo bralladia, THE COMMODITY SITUATION ‘Thrucdt 1924 there has been a | sagging in commodity prices va with different lines of bus: Pig 0M . 1+ mcecees coveee: Petroleum . Boxboard Cutton .. Cotton Yarns seecece. CO “Of course, there are instances where there have been Increases, as In tha case of grains, but the tendency of commodity pric ro been downward thruout the year, as was {Indicated by fundamental condi tions last Jan’ Taking the list a5 8 whole, we se a decrease of som 3 per cent, which is consider- | thle in view of tho tremendous de- | elines of 1921 and 1922 | +WORKING CONDITIONS jous volume of business. “The employment situation has | this business was largely heen working out the same way.) of orders which had been kk, ‘There have been no bread lines dur- | like a stream of water, pending the fng194, and wages have held up| counting of the ballots, When the| peetty well, but in many sections of dam was removed, th the country there has been consider- | came forth and we wi able unemployment. This especially | the heaviest days in the history of hag been true in the union coal min- | the New Yorke stock exchange, | fag districts tn the Central West.| “yany wonder whether the bull | ‘Where more idleness has prevailed | market has culminated or whether | Babsonchart ° American Business JATIFS pwever, bases on a resem also remem disastrous crash that followed 1991. That ts to any, it tn gus to une @ part of a vompartson without carrying It thru Altho it ts entire to a coneluston. possible that 1 bull movement, witness drastic ¢ come down. the «mo: langerous {t Js to fool Hence, if wo do haya much higher stock market prices in 1926, Rockets go | * with them. | year, we are ¢ wo are! one of which ma Snoqualmie Falls than for years. Tho textile industry, the shoe industry and other highly Organized lines have suffered during | 194 from much idleness. When the 1925 will seo even higher prices. | Based on experiences of previous bull markets, I believe that 1925 will see higher prices in the case of many Channels of trade from Europe were | securities than was witnessed in the tlosed, it was possible for organized | best days of 1924. labor in this country to demand and | 1925 LIKE 1900? Pele ee of flesh’ With the | #1 remember very well the election | thet roy hepage ioe Mad forth, | Of 1900, when a bull market suddenly . oods a fe te track, intoreate anmenoped under ctrcumstances very | “gee 30 one group in any one | NUCH like those of this November, It Country can take an arbitrary pos!- ‘ton at the expense of others. Hence, altho the year has been fairly satis- “actory for unorganized groups, thera Yas been much unemployment in or- | went on for some days and then re- | | acted four or five po | irregularly into December. | advance again started, and with the opening of the exchange on January fanized 2, all previous records were broken. labor. A comparison of Wage | Tn January, howover, the bull mar- > hag increases gives us the fol | Ks¢ seemed to culminate. Waill| Street took profits very heavily, with | Ware Wage | the result that some stocks reacted | 12: Cuts Increases | trom 10 to 20 points. During Feb-| > hneapaneapeed at aS ruary, when tho United Staten Steel eet agg 43 et | Combination was announced, tho eenty pes, poges nar cost | market moved only sidewise, but very lade Airection. ere vanes oe © | Soon rumors began to cotne out that | i priaes Taiithes 1 ike other consolidations, especially rail- Mast and they auvaivare pephabn wes seed sone ientione: mes ene ih ‘ jand prices rose from 20 to 20 po ae. Artificial barriers and) guring March. In April there wer Simulants may temporarily affect | wimilar advances running os far as| é pang and cost of living, bi 4 the month's trading; flow ot a y temporarily affect the | », y. What was the wild. | ie aap of water. No dam | est bull market in the history of Wall) me the water, Sooner OF! crreet came on April 30, when 3,28: ft flows over the dam. Labor | 2 talons, tariffs, immigration restric- | tions and other legislation may tem- Dorarily stimulate the situation, but ich stimulation is not permanent. always follows, Water Mitt seek Its own level and ultimate- all groups and nations suffer and | Prosper together. This is the great Yenson of 1924, | THE INVESTMENT SITUATION ‘As a result of the decreased busl- Ress in acne, has been Idle and | en copper ia 14 cents Sdound tt requires only half ax much gm to carry it as when it fe at 7 gue 4 pound, and the same is When commodities An general. ee business is dull, money {s al- Plentiful, and 1924 was no ex- } to the rule, The following | for the average call rates on lew York stock exchange for tho | years shows very clearly taken place In this regard: 35; 1915, 2; 1916, 2%; 1917, 1919, 6%; 1920, 7%; vale » SI; 1924, 2%. money rates have banks to buy bonds with their and we have witnessed 00d bond year, Yields of bonds closed December 21, with an average of 6.39 per cent Ars closing this year about 0.4 | lower. Of course, the nearer to the top the less opportunity for turther rises, but I should Surprised in some instances to | Righer prices in 1925 than | rl tere wally? gS: F aH fi; #F Aen Market continued to Sdewine manner untt! the took place in June. Claude C. Ramsay GENERAL INSURANCE MA in-1090 DEXTER HORTON BUILDING Lumber Co. Mfgrs. of WEYERHOUSER FOREST PRODUCTS Specializing in Douglas Fir Finish and Red Cedar Bevel Siding 1925 Business for The Star Bouth expe has turned t distant country {n| . Otten the best | be ob. ome whoo, RAL, OUTLOOK FOR 1925 As wo look forward to the new nted by two facts, en us timid and the ICE: White Building ' HOVEFDL FOR SOUTH (Turn to Page 5, Column 3) A Kelton & Robson, Inc. GENERAL CONTRACTORS SEATTLE OFFICE 1231 Westlake No. GArfid 5450 Christmas and New Year's Come but oncea year but your opportunity to become financially independent is of- fered you every day by opening a savings account at 4% with the Peoples Savings Bank. The prices of bonds may go up or down, but a savings account at 1% interest in the Peoples Sav- ings Bank is always worth one hundred cents on the dollar. This New Ye make you determine to become thrifty by starting to save with us, should make you determine to be prudent by using one of our burglar and fire-proof safety de- posit boxes for your valuable papers and jewels—a little more than a cent a day will get one for you. * season should Be Thrifty and Prudent. Start the New Year right by using the services of this friendly old bank. Peoples Savings, Bank Corner Second Ave. and Pike Street The Corner on Which You Ahrays Stop When Down Town Our Experience for Your Business A bank that serves a city of such varied in- terests as Seattle must have a length and breadth of experience and a financial organiza- tion equal to the task. This bank, which for several business genera- tions has given uninterrupted support to the diversified industries and commercial enter- prises of Seattle, has learned through experi- ence how best to serve their present banking needs. We believe that it will pay you to connect up with our rich store of financial experience and to use our manifold facilities, The First National Bank of Seatile Second Avenue and Columbia Street Directors THOMAS BORDEAUX President Mason County Logging Co. 0. D. FISHER Manager Fisher Flouring Mills Co, MAURICE MeMICKEN Chadwick, McMicken, Ramsey & Rupp Attorneys H. F. ALEXANDER President Pacific Steamship Co, C. A, PHILBRICK Vice President M. ‘A, ARNOLD President D. H. MOSS Vico President PATRICK McCOY Lumberman - H. W. ROWLEY Billings, Montana HERVEY LINDLEY Seattle F. R. TITCOMB Manager Snoqualmie Falls Lumber Co

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