Show BUSINESS HEM 12 henry N byrne hack back from kt east f 01 feeling aw of improved Imp rosed condition and easier money Vator atAo factored for business Busl noM haa has ita its foot on the groundland ground and in Is read ready y to tg step moat most people have taken their losses incident to tho the process at 0 deflation chod and are going ahead now with tho the arst behind thorn them and much bettor better day ahead that 18 tho the impression henry N byrne managing director 0 of me helth odrien company brought back with him yesterday from a buying trip of several weeks to now york and other eastern commercial con confer terp mr byrne aid said that in noy york both the wholesale and retail business ie Is nourishing flourishing fram all parti parts of tho the country thoro there to idaka commitments for goods on tho the now price levels prevailing the general feeling is that in many lines prices havo have reached bottom acing completed with this thought generally abroad mr beruo said that the so called consumers strike la Is disappearing an the public becomes more and more convinced that the readjustment process iff fit being completed I 1 in traveling through tho the country mr byrne bald said that he became convinced that the intermountain region is now in better shapo shape than almost any chy other for hero here ho be said the fall in commodity prices came early anil tho the consequent reaction from the vorst lt of the depression hag has been more rapid than in many sect lonis mr bryan camo came back preaching tho the gospel of optimism and ho he said last night with much emphasis that most dost business now has tho the go ahead spirit that wilt will carry it train rom now on along channels of prosperous normal trade and commerce tho the purchasing power Is hero here in thorest tho west ho he said and as tho the weeks go on will manifest itself easier money in the cast ho he said Is to a most favorable factor in tho the resumption f of business buol liess and this together with tho the certain tooling fooling that tho the crest has boon been passed now some ways back Is its making business men meil fool feel confident in laying ther their plans piano for the future along sano sane and energetic lines collections improving Dusl ness so often a good barometer of general conditions are improving materially in tho cast east mr byrne said and are adding their weight to the cumulative tive evidence of a commercial america which has ilas como through the tho strenuous deflation into the now era araj off bettor business for everybody overy body in the economic circle regarding labor questions mr byrne said a great many of at tho the men ho he camo came into contact with on his trip expressed the belief that labor frill not bo be asked to accept a shrinkage id iti wages proportionate proportion tto to the shrinkage in commodity prices illustrating how busy new york ie Is mr ayme said that mat at tit ono no hotel thoro 1600 people were turned away in a single day for lack of or accommodations for out of town buyers and visitors lie added that to got a 4 theater seat or a restaurant table one had to make reservations long ons in advance tribune 1 s n 0 san ban francisco jan 24 the federal reserve banket san francisco began today to exchange permanent 4 va M pct act coupon bonds of tho the fourth liberty loan with attached coupons to maturity for the temporary coupon bonds issued during tho the fourth loan Doll verles of 0 the permanent bonds will be he made in the order of I 1 OC of temporary bonds k from banks banke and individuals throughout tho the twelfth federal Ile reserve serve district with the commencement of tho the fourth liberty loan exchange it will now bo be possible governor Governo john rJohn U calkins calk ing announced ato to convert and exchange outstanding temporary coupon bonds of all issues described as follows first liberty loan converted 4 per cent Tomp temporary coupon bonds may be co converted averted and exchanged S for permanent 4 per cent orna or ro v glet ered bonds A first ret liberty loan converted ba 4 per cent temporary coupon bonds may be exchanged for permanent 4 it per cent cont coupon or registered bonds first liberty loan second con 4 44 aa per cent temporary Temp orbry coupon bonds may be exchanged for permanent 4 au A per cent cou aw I 1 pon or registered bonds i second liberty loan 4 per cont cent temporary coupon bonds may he be converted and exchanged for por per manent 4 au 41 per cent coupon or registered bonds second liberty loan converted 4 per cent temporary coupon st bonds may be exchanged for pert manent 4 per cent coupon or registered bonds r f third liberty loan 4 14 per percent cent temporary coupon bond bonds may be exchanged tor for permanent per cent coupon or registered bonds fourth yourth liberty loan 4 per k cent temporary coupon bonds may way bo be exchanged for permanent au per cent coupon or registered bond on and after january 24 14 1 1921 aw all holders ot at temporary bonds of the fourth juberts loan laan are urged i to offer their securities for exchange for permanent bonds immediately 4 through their local banks se S |