The Daily Banner, Greencastle, Putnam County, 1 January 1927 — Page 7

THE GREENCASTLE DAILY BANNER, SATURDAY, JANUARY 1, 1927.

PROSPERITY BEAMS UPON U. S. IN 192(>

conditions <;i:ni;r \ll\ ioue- ( VST I'UOSPKROl S NEW YEAR FOR NATION.

j creases in the amount of open .mar- a practice which could easily result ket purchases and in holdings of in disaster under present conditions, Government securities. Note cirtu- with the country’s gold re.-erve at an lation and deposits have increased abnormally high figure and subject very moderately, while reserves show | to enforced reduction at any time.” a more pronounced gain, the present total being about $110,i>0(),OUO above

, that of a year ago.

“The most important change in the condition of reporting member bank of the Federal Reserve system is the continued increase in the amount of time deposits, which is now great( r by $437,000,000 than a year ago. Loans and discounts have increased by $290,000,000, notwithstanding slight declines in loans against security collateral. Investments have also increased, while net demand de-

Building In City On Large Scale In ’26; Outlook Good

PAYS FINE FOR SHOES WABASH Howard Holcomb

hoes. He was fined for paying .he clerk in the hoe tore with a

of this city paid $110 for a pair of I bad check.

ROSY PROSPECTS FOR HOME 111 ILDING DURING THE

NEW YEAR.

To our old friends, loyal and true, to our valued friends; and to those whose friendships we strive to deserve we heartily wish unmeasured happiness and good fortune throughout the coming- year.

GROGAN & MILLER

Phone 34

lu a summary of the year’s business, emphasis must be placed first of all on the exceptional degree of prosperity enjoyed by nearly every major economic group in the country, states the current issue of the

Guaranty Survey, published today | posits have declined by $230,000,090 by the Guaranty I rust Company of and borrowing from the Federal K New York. “The most striking fea- serve banks by $71,000,000.

d. this piosperity is that it is “The positioft of the stock market!' 1 '( wi ' s 1025 and 1924, bu* no something more than ‘prosperity 1 in i s probably stronger than a year ago. | ol11 ' expected the general building

Although prices have regained, and l ’"“ m ,0 ''oidinue on such a large

the level and even though it was reduc-

then prevailing, there are numerous 0| 1> a Kreat many new projects have

I'm",. "‘"..I °T ’ 'u 6 “ Survey ” con ' evidences that the general public is l,l ' en »»•<•<* construction during the m i l Muh conditions large j esi) deeply involved in security spec- V ( nr. I he volume of building for the profits almost invariably u | ation lhall was the case last win- • vt ' ar ""•> n "> as hi K h «•< •" former

The building program in Greeneastlf for 1926 was not quite a- big

I ! ;: j

\V your New Year is a Happy one you will know that our wishes in your behalf have been fulfilled to

the utmost.

the conventional economic sense of!

active business, large employment, j^Tbly even''suri'uisvcll','

rising prices ami wages ami inereas-

^iai^aisiaiaj^diBi3iaiBisiaiaiaiBi5iaiaia05i3®^tiaiai^^iaviicMawicMaiii r sj£i5i

Charles H. Rector

siEMaa

tinues.

business

because of the large buildings

amount of , • v< al '

. rimmciiig ' " I'ioh have been started and nearly .... ..., | completed during the year. This in-

prevail; but wages and salaries, while ten At a |, events, the generally mo\ mg upward, often fail 1)ank full(l , ,,, vot ,. ( | to lh( ' ^ t’. 11 .' '‘ I ' 1 1 " ‘ u v “ llc< ’ * n O'" of stock transactions ..how an ap

lvi,| lf> w t mt tin purchais-! p rec | a hle nit decline during the year. 1 ^ u< '' Longden Hall, which is be

be .. • m cted b> ItePauw Univei ity

l ind that of otheA>. It is chiefly in ornmo i y rues | anti a fraternity house or two in the

tln> spi (bat the present domes-; “The movement of commodity jiric (city,

in situation is remarkable. Not only . es is the anomalous feature of the u.i v..iges iisen to new high levels, year’s business developments. De-

but the cost of living has increased

I ~

Announcing January 1, 11)27 My New Location 11 South Indiana St. Dr. John S. Wellington ()ptomet list.

Why not start the New Year right with a CHKYSLKR. We will be glad to give demonstrations at any time.

We carry a complete line of Fisk Tires and Tubes, Francisco Heaters, Weed Tire Chains, (ilencoe Oil and (las and other first class auto accessories all at reasonable prices. 0. J. RECTOR SALES CO.

Sincere Good Wishes For The New Year, 1927

T :— . -.i v-:: J

HE New Year season affords an opportunity to express again the pleasure we derive from our business relations with you, and on behalf of our entire organization we wish you and yours a Happy and Prosperous New Year. _ f X 4

comparatively little in the last five years, and during the greater part ut this year it has actually been moving

downward.

Encouraging Outlook for 1927 “ O* 6 wide distribution, even more than the volume, of the public's purchasing power justifies the expectation that business will continue active and underlying conditions gen-

i tally sound during the coming year, appears to

It is not to be expected that the rate of growth maintained during the lust two years can be maintained indefinitely. Even if it be granted that growth is a normal feature of the uiuntry's business, and that thi

power now existing could, under bet-1 particularly

ter management, produce vastly more than it has even in the recent past, it remains true that such rapid expansion demands adjustments which must from time to time occasion temporary setbacks. It must be remembered, however, that a oderate decline from such levels a.-, have existed this year would by no means mark the end of the present era of

prosperity.

Moderate Recession Possible ^ ' number of developnwtrt ■ in the _;lid few months have led to a rather I general belief that some recession, Jor at least some slowing down in the late of expansion, is likely to occur in the near future. Curtailment has, jin fact, already appeared in some di-! lections. The declines in building activitiy and automobile manufacture the so-called ‘key industries'; the downward .movement of commodity , prices; the effects of low cotton prices and of unfavorable conditions in some agricultural sections; the ex- 1 tremely high level of stock prices and of speculative activity in the security markets; the diminishing export trade balance; political uncertaintiesthe outward movement of foreign capital which had taken refuge in this country during the period of inflation; increasing competition at home and abroad—these are among the factors that have been mentioned as indicating the approach of busi-

ness reaction.

“On the other hand, there is the basic fact ot large and widely shared purchasing power, reflected in full ! employment, high wage levels, active retail trade and small commercial inventories; a strong credit situation; a highly liquid condition on the part of most business enterprises; slowly reviving purchasing imwer abroad* with the hope of more rapid progress to follow the restora-1 lion of sound financial conditions; remarkably efficient transportation service • and special factors, such as the expenditure in this country of fund borrowed by foreign industries. - As for the influence of declining comUj niodity prices, the experience of the 1 past year has amply demonstrated that such a movement does not necessarily produce excessive hesitancy on the part of business men, while it appears that in some respects the absence of the upward tendency, u ,- ual in .periods} of prosperity, may operate to prolong, rather than curtail, the present term of prosperity. Active Production jjnd Distribution "Tile year as a whole has marked a new peak in general industrial production; while the volume of trade at wholesale and retail indicates that the industrial output has moved freely into consumption without resulting in any considerable inventory accum illation. The level of activity lias been fairly stable throughout the

spite the undoubted pro perity of

In addition to these building , many new residences have gone up

the country and the high level of business activity, prices in general have declined slowly hut rather consistently throughout the year. It is noteworthy that most of the principal commodity groups show the same

general movement.

“As a factor bearing on the prob able future trend of business, the slow downward movement of price

strengthen th outlook

for a continuation of prosperity. In some directions, no doubt, confidence will be impaired and enterprise re stricted by the gradual decline. Such a slow recession, however, threaten man- little in the way of inventory losses,

at a time when busincs

concerns in general are carrying on a very large volume of business with the minimum of investment in stocks of goods. The absence of price appreciation certainly reduces the incentive to speculative buying,

and among them are some of the finest in the city. The new additions which have been opened in recent yeai aie rapidly being built to con-

tinue.

The Tiue-Hixon and the Allen Lumber Companies report the nrospect for 1927 to be unusually good and it is believed there will he as much or more new construction work | this year a in 1926. Local contractci . aie ixpecting to be kept bu y during the new year and already | everal of them have prospects in view that will make business good for months to come. No i ity the size of Greoncastle has had as much building as ha- Greenea lie and from the outlook, this record promises to be maintained for several years to come. With every facility in the way of building materials and contractors to handle the work, everything looks good for home industry in 1927.

r, ’“ ’.VS ’

HAPPY NEW YEAR Friends and Customers, new and old: It is with the sinceresl of pleasure that we on this day send to you an expression of our real appreciation of the patronage accorded us throughout the year now passing. Let’s try to make the coining year one of even greater mutual benefit. We will always be glad to see you and serve you to the best of our ability. WEBER SHOE SHOP

COFFMAN'S West Side Square.

uji year.

P] “The position of the hanks lias coni']! tinned very strong throughout the

Ujl tinued very strong throughout j.’:| year, with money rates moderate and - “ -• ' the

fi w

i : | » " "—’ll

5']q fairly stable. The condition of

Reserve hanks shows

L] Federal , »c „ainv» r.,™™.-. - Pm important changes during the last a ] twelve months. Discounts are slight j|!|y smaller than a year ago; but this Iuecline ia m i<- than oft.a >

The Family Stage Coach In 1927 No! drawn by prancing horses but driven by a powerlul engine which inns! be fed and cared for even better than was Old I )obhin. In UNTO (JASOLINE you will find a powerful, economical fuel dial will increase your car’s efficiency in winter blizzard or August heat. TilKEE STATIONS IN LUEENt ASTLE

Host wishes

for your happiness and prosperity

in 1927.

Southwest corner Washington and Jackson. East Washington Street Bloomington Street.

LIN CO

GASOLINE

LL'UKK AT1NG GREASES

MOTOR OILS

HIGH POINT OIL CO.