Show n WHAT A BANKER THINKS OF BUSINESS The head of oC one on of or the tho th largest et t banks In I iii I the Unite States reo re- re reviewing viewing business says sal After ACler two and x IL half bait ears ear or of business activity ty there are some Indications ot of moderate reaction but vol vol- vol utile rem remains lna very ery high The In- In Indications are lire not hOt clear enough nou or marked enough to 10 indicate a II dO de- de claire trend Business has been conducted prudently In general baud band to mouth buying has baa pre pro prevailed commercial borrowIng bas baa been conservative and ud the th finan financial cial position o of oC American bust busi business nose ness Is sou sound lid There has lIas been too much speculation In certain directions notably In jn securities and In real rest estate The most Un- Un un unsatisfactory satisfactory phase of or the bust bust bus u Hess s situation Is to to be In agricultural sections and nd notably In the cotton growing south The textile Industry will wilt ultimately benefit from Crom the lower price of oC cotton but transitional difficulties ties tics In iii this hay have hav not yet been fully worked through brough Looking at t the world outside the UnIte United States Stales lh th the banker says There There I U rood gOOlt reason on to aup suppose sup sup- suppose pose that tlde Ude Is Ia turning In business affairs aCCairA am and that the next move will be France also appears to lo have hale faced the worst In her financial situation The great gloat financial financial- emergency has haa brought a truce among cal cai factions The most significant problem remaining In the th French situation Is the adoption of oC II a definite stab stab- rate low enough to avert averta II a serious business crisis and to toI I prevent a II sharp oft off In revenues of oC the state Italy Ital has baa made during the year eal a II striking d demonstration I m 0 n s t I a t 10 n oC of financIal Industrial cooperatIon co between Germany France and Belgium has lIas made striking progress ress tess World orld progress in 1926 1 as a whole far tar outweighs diplo diplo- diplomatic diplomatic matic matte frictions which have arisen and elements of or uncertainty Inthe In Inthe inthe the Balkans In China and in Mex- Mex Mexico Mex lex Ico nn |