Show READJUSTMENT 1 OF BUSINESS mm P PROGRESSES OG ESSES Evening Up Tip of Farm Farmand Farmand and Industry Prices Held Essential 4 HILLS lULLS Mass Mag Aug Sl 31 Roger r W Babson today gh gI s his II monthly review re lew o of gen g gen gen- n- n ral ra business conditions Mr II Bab- Bab tn In c n Is s not bullish lt on the tho Immedi- Immedi inte nt outlook believing rather that e hue hite h e begun In e nest to com com- complete lete the tho period o or r road a started In 1919 Hl He In- In In Insists was a ts ho however e eer er that th this comple completion ton tion will II clear ekar the he decks deck for In the tho future Ills His state state- statement statement ment I lo as us follows folio s Business Is beginning to f feel el elthe the shock hoch of o President Hardings Harding 5 death which so the Ule AmerICAn Icen ICAn people Although there la Is acon ol In the tho fact fet that th t his Cah Calvin in Coolidge has h s ha had 1 e set Et a n shifting from one presIdent to another must mut break many con con- con connections and change ch many plans The first people to feet feel eel the th re- re re results Fults of or this change chang aso Rae the retail retail- retail retailer er or ro slIM siles foil fell off Imm dl Atel follo following Ing President s a and ha hae have e not yet rEsumed Hence wholesale tan bu busing Ing in is on only It a moderate scale cale BU Buyers Buer er are arc riot Inclined to purchase beyond their Immediate needs neds nE ds The Theo people are also awaiting a the size siz of crops crop aDd the prices of o agricultural l prod prod- products rt T IrVEr PRICES ThE The best Immediate business OP- OP OPportunIties op opportunities are belle believed to be In the tho south Muth Although current cotton re- re re reports ports florU are lira some somewhat hat disappointing yet the good lood prices promised hould make the south prospErous during during- the next net 1 12 months montha Ghen the right kind of o weather for the tho remainder of o the season and cur- cur nt nt prices the the south will 1 add greatly to Its lis lt wealth and Int Ing power The northwest hower how- how hower er r er Is 1 handicapped by the Euro Euro- European Ean ean farmers armors who ho are raising more grain ever every year which naturally rd seduces uces our exports fit pf cereals cEals Wheat beat prices ha hate haie e sho shown II no me- me material ma material change recently but corn are softening although thIs Js 1 s only natural e a the th ew ew crop approaches maturity Iren Iron ste steel t petroleum copper and certain other basic com corn commodities are ar declining In price but this Is not an unhealthy sign The peat reat difference In the level le of farm tarm products ind nd goods must be eliminated sooner Or The Th prIce pric of products must t come corn up Ul and that f f manufactured roods goods must come Therefore the present re- re re readjustment adjustment mo Is healthy I and good for all of ot us u ln In the long longrun longrun run ThIs readjustment will be ae- ae accomplished ac accomplished b by a reduction In the prices of raw materials an In- In Increase In Increase crease nease In the efficiency of labor and a reduction In 0 overhead ana aDa telling expenses W v GE GE 1 S The The unemployment which Is threatening certain Industries on of foreign competition make labor more reason reason- reason ride On the other hand Indica indica- indications Indication tion are that th the wage earners In thos those monopolies such as a transportation tation coal etc ete are still greatly tempted to mae ma trouble Certain of the railroad unions are arc about to tomake tomake make drastic for wage In- In In Increases creases restoring wages o to wl the 3 erp ern er at the peak peah tollo following Ing the war Tar r an and prior to th the cut July Jul I 1 11 1 1 Considering that the dollar of 1913 1813 1 is now lOW worth about n 7 compared with Ith only 40 cents n Mar Ms 1920 and only about 60 cents In the th spring Of ot 1921 these demands on the part of labor for fot fora fora A restoration of ot war time wages agE sage seem eem very ery cry unjust Bal If clearings clearing have definitely turned the corner orner ana ann are sr declinIng inc lag Ing mall mail order saIlS saIl'S sale may hae again apparently reached a max max- maximum the demard for Iron and andl stel l l I Is slackening Crude oil Is 19 piling homa up liP In nl homa Kansas and Texas People scramble cramble to bu on advancing mar mar- markets declining but refuse to bu buy on ing leg markets As M the result the In prices may now go as much h below normal as the previous ante diance went above normal This I Ic unfortunate hut being in accord accord- accordance nc ance with Ith ith th the liw lw of action and reaction It Is la Inevitable liable lurther urther explains the current dp- dp d in retail buying and the eon con consequent con sequent falling off In the orde orders ot of manufacturers and jobbers jol bers WhEn 0 w al e are In n a bear market prices pricE's at- at 1 S decline to tir res flit fig theco fl-es fl Irrespective of merit or the co cost t of production RY r C TOO LU r U However heEp th's are ar o optimistic signs ign If 1 studied with aith Ith the th long pull In view I although althou h naturally affect lh h- h Index Ich is 11 today 10 0 per pr rent pent below blow normal There I Is no doubt that business hen nhen h ill III In 1 and 1921 bUlneS dl did not y It got Rot out of off off-d ted too soon We must now rest again And nd he be willing to convalesce iv Therefore thIngs ar are now tn oV In th the right rIl current pessimism end nd when hen prosperity comes oms It III ill he much finally more and lat it la t much longer loneer than It otherwise would |