Indianapolis Times, Volume 35, Number 197, Indianapolis, Marion County, 31 December 1923 — Page 18

MOODY FORECASTS GOODNEW YEAR (Continued From Pape 131 ration of anew period of prosperity Immediately ahead of us. There may be only moderate evidence of this business revival until the middle of the new year. But If there is a decided promise of tax reduction, and other constructive political development stake place, real business revival may be evident much earlier. Like everythnigr else, psychological factors enter Into business conditions." Then, taking up the leading lndustrteo. Moody said this: Farmers Better Off ••FARMERS: Agriculture has been behind the procession for several years, but the farmers are, on the whole, better off than they were a year or two ago. This Improvement should continue during 1924 If weather conditions prove favorable and markets do not contract to any great extent. "The American farmer can better hts condition by developing more diversified crops. In Wisconsin where crops are widely diversified, there is more prosperity among the farmers than In a State like Minnesota where they have stuck closely to the onecrop idea. "FOREIGN HITT ATI ON: Getting steadily better, for the economic condition of the people In most of Europe is Slowly improving. During 1924 the reparations problem may be brought closer to a permanent settlement. "RAILROADS. The greatest trouble for the railroads Is that they are burdened with the United States Government as their senior partner. As a whole, the railroads are today being operated as efficiently as they can be under present difficult conditions. "The best hope for the railroads in the long run Is along the line of some such consolidation scheme as provided for in the Transportation Act of 1920. Such a development would distinctly Stabilize the railroad industry in the United States. “BASIC INDUSTRIES: The steel industry’ has been operating on small margins of profit and Is considerably depressed: the copper industry shows some signs of improvement; the leather industry' is in bad shape; textiles are somewhat better, but the outlook for the rubber industry is not so good. The automobile industry' seems over-developed, but demand continues to stimulate supply. Wages Stable “LABOR: I see no prospect of radical wage reductions during the foming year. The prevailing shortage of labor in nearly all lines seems certain to keep wages stable. “THE QUESTION OF DEFLATION: I do not think that the trend of commodity' prices is going to be noticeably' downward for a number of

Expert Sees Period of Prosperity Ahead * JOHN MOODY “The expected period of prosperity which should develop In 1924 may run for a year or perhaps two years,’ says John Moody, famous business expert. years to come. The idea of returning to the basis of 1913 in commodity prices and the cost of living, is steadily becoming less likely. Costs are abnormal. “Compared with pre-war times, in all parts of the world, but, like everything else, when people have adjusted themselves to an abnormal situation long enough, it gradually becomes recognized as the normal situation. “This is what is happening in Europe. In France the people have subconsciously adjusted themselves to the idea that a low' value franc is the permanent normal condition and they are gradually forgetting the days when the franc was stabilized at over three times its present value. In the same way, we are getting so accustomed to the so-called 60-cent dollar that we are more and more looking ahehd upon the 100-cent dollar of 1913 as merely an interesting historical fact. “LOOKING AHEAD: The expected period of prosperity which should develop in 1924 may run for a year or perhaps two or three years. Its length will be dependent, to a large extent, on developments in the field of foreign affairs. Unsettlement Ahead? “If these foreign developments take shape as now anticipated, it Is very possible that by 1927 America may run , - v to a long period of unsettlement And depression. The reason for this not far to seek. “By 1927, or thereabouts, European conditions will have become far more stabilized: Germany will be building up production in enormous volume In order to meet reparation payments; the allied countries will also be building up production in great volume to meet payments to the United States on the Inter allied debts. The necessity of meeting these debts will prove to be a stimulant for increasing production in all parts of Europe. i “If Germany is to pay the allies fcnd if the allies are to pay us, these payments can take only one form; Bat of the shipment of goods in enor-

mous volume Into this country. Because of the low cost labor of Europe, which will continue to be measured by Inflated currencies, it wiD be practically impossible for the United

No Hauling Too Heavy No Distance Too Great for — Central Transfer and Storage Cos. Commodious Fireproof Warehouse We Do the Hauling for The Indianapolis Times 118 S. Alabama Street

A T \ T vMC l\ew l ears jjWngaL Greetings ViVE wish to express to ||| our friends our \| / thanks for their patronage during the past year, with the hope that we may be worthy of a continuance of the same. We wish you a happy and prosperous New Year Central Supply Cos. Indianapolis Indiana

Indianapolis Life Insurance Company Insurance in Force 1905 $325,000.00 1906 1,281,909.92 > 1907 2,1 5 8,3 1 5.6 2 1908 2,344,449.1 2 1909 3,037,135.59 1910 3,760,237.61 1911 4,451,264.48 1912 5,756,690.87 1913 7,011,554.27 1914 8,655,788.49 i9is 10,231,921.21 1916 12,021,820.06 13,665,053.54 15,532,346.36 ■ 20,456,274.44 27,006,018.90 31,275,345.86 35,236,427.74 “ 41,000,000.00 An exceptional opportunity for salesman, who has a proven record for personal sales ; one who can qualify as a Manager in one of the best sections of Indiana. Local agents wanted in every town in Indiana where we are not represented. Direct Home Office Connections and Cooperation Write or See Frank P. Manly, President, or Joe C. Caperton, Sales Manager

States to radically curtail European imports. The only way she could change this development would be through some plan for the reduction, Indefinite extension or cancellation, of

THE INDIANAPOLIS TIMES

the inter-allied debts. Or, this condition could be partially offset by the investment of American capital itself in enormous volume In European producing industries.”

The NE W Home of the Continental National Bank Provides for increased facilities to meet the commercial banking demands of our growing city and state. The bank will occupy the greater portion of the ground floor, second floor and basement of the new building, with a direct entrance on Meridian Street.

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CONTINENTAL BANK BUILDING Indiana s Finest Office Building i Now under construction at the southeast comer of Meridian Street and Monument Circla Reservations of office space and ground floor storerooms now being taken by 310*311 Guaranty Bldg. Lincoln 2032 j j

MONDAY, DEC. 31, 1923