The Sunday Oregonian. (Portland, Ore.) 1881-current, January 02, 1921, Section One, Page 5, Image 5

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    THE SUNDAY OREGOMAN, PORTLAND, JANUARY 2, 1921
BRADSTREET REVIEW
HAS HOPEFUL TONE
Great Overcoat Special
Depression in Afl Lines of In
dustry World-Wide.
REACTION HEALTHY ONE
Return to Saner Price Levels Held
yearly t'nmlied Good "Silk
Shirt Era" Has Its Lessons.
jrew TORK. Jan. 1. Bradatreet's
review of the business year declares
that the depression experienced In the
closing months Is world wide. High
money, credit contracts and buyer s
"strike." it says, put the brakes on
the early activity, while the liquida
tion of industrials begun in 1919. was
a feature of the year with few rallies.
Transportation trouble early created
frozen credits, while the foreign trace
haa broken all records. Industry
thrived for the greater part of the
year, but the subsidence of buying
waa quickly followed by unemploy
ment and short time in many lines of
manufacturing. New heights have
been reached in clearings and stock
Issues and failures have not been ex
cessive but the liabilities have
equaled the worst years.
Outlook Generally Brighter.
The forecast for 1921 Is as follows:
"Divergent views held as to the ad
mittedly clouded outlook. Those in
clined to take the cheerful aide point
to the absence thus far of acute fin
ancial, especially banking, troubles,
the conceded easing of the strain on
credit from the peak point of mid
autumn, the evidences of price revi
sions having brought nearer the point
where conditions, those affecting
money included, relatively speaking,
may be expected to be stabilized, the
great basic wealth of the country,
really untouched by the events of the
year, and the demonstrated ability of
the American to adapt himself to and
master difficulties.
"The other less favorable views ad
vanced have to do with the spread
of unemployment, the slowing down
of Industries, the Injection of short
time and wage reductions Into the
situation, this tending to hamper
buying ability among large sections
of country, and the asserted crippling
of the farming Interests, heralded as
meaning reduced purchasing power
among producers and as threatening
the very basis of trade and industry,
the production of staple food and
other crops. Only the very sanguine
apparently look for a swift reaction
from what economists describe as
the secondary phases of crises and
depressions, the slow, painful and
altogether unpalatable processes of
recovery from Industrial disorgani
sation and reduced production. With
out attempting to make any hard
arid fast predictions. Indeed with
every disposition to keep out of the
ranks of the prophets who are pro
verbially lacking In honor in their
own country it may be well to set
down a few facts which have a bear
ing upon the working out of either
of these forecasts.
Reaction Healthy One.
"In the first place, it apparently
needs to be again brought to the at
tention of the fainthearted that this
country has so far come through
lightly from the troubles which have
beset the world as the result of the
overweening ambition of the German
militarists: that our present trade
and Industrial troubles, due in part
to our own extravagances, are the
natural results of the antecedent
causes, and that it is best that the
reckoning came as early as it did. In
other words, our condition might have
been a whole lot worse it is cer
tainly a great deal better than is the
lot of our European friends and
allies. The industrial worker many be
Idle in unprecedented numbers and
a fraction of his pay (25 per cent.,
perhaps) has been cut, but he had an
opportunity to prepare for the Inevi
table reaction, while the farmer,
mourning the fat returns of 1919,
should not forget that his money and.
crop returns are better than in 1914.
1915 or 1916, which were not es
teemed bad years at the time.
"For the great mass of people who
did not directly gain by extravagant
wages or prices, the return to saner
price levels is a nearly unmixed good,
and all three of the groups cited have
the knowledge that, as a result of
readjustments, a dollar goes and will
go further than It did in recent days
of so-called boundless prosperity. The
fact is that, for a while at least, bus
iness will need the present quiet per
iod to recast its ideas, form new
plans and prepare to put In operation
The ideal floor
covering is an
Oriental Rug
There are no seams and no
mismatching. An elegant
border runs all around.
The edges are exquisitely
finished. The home that
obeys the dictates of fashion
and taste null have one or
more. Their pliable fabric
makes them easy to handle.
Our great variety makes it
easy to find a size and
color suitable to your needs.
We mill gladly co-operate
with you in every way.
CARTOZIAN BROS.
Importers Oriental Rugs
Established 1906
Pittock Block, Portland
FOR RENT
OR LEASE
Two large rooms; suitable
for business purposes, offi
ces, or meeting hall ; in bus
iest section of city, 264 Alder
St Call at
286 MORRISON ST.
Or Phone Main 4S04.
500 OVERCOATS
in a Grand Sacrifice Sale
to close out the balance on hand
$90, $95, $100 Overcoats. Sacrifice Price $60
$75, $80 Overcoats. Sacrifice Price $49
$60 Overcoats. Sacrifice Price $39
$45, $50 Overcoats. Sacrifice Price $29
$30, $35 Overcoats. Sacrifice Price $19
No exaggerations or misstatements
are ever permitted in my ads
BEN SELLING heading CtotiOer
Morrison Street at Fourth
new and better conceptions. As put
by one observer, the old figures are
blurred and new ones must be pre
pared.
"It is hardly to tie nopea mat -ne
present readjustment will not go far
enough to retire a large number of
those who in the past year and in
unprecedented numbers sought the
profits of a business life with a mod
icum of business equipment and a de
ficiency of ability to succeed. It
might be well if we were able to for
get some of the events of our recent
silk-shirt era" of extravagance were
it not for the lessons conveyed that
in the long run ability, education and
experience are also entitled to their
reward. Perhaps no better service
could be done the American business
man, wage earner or farmer than to
hold up to his eyes the example of
battle-torn France, which In its
patient rebuilding of its shattered
fortunes, this year, shows a gain in
its export trade comparing favorably
with all but the very largest gains
In our own.
"With the experience of some past
years of stress in mind, one is in
clined to look askance at efforts of
'medicine men" of both parties to
offer patent nostrums to the people
in the belief that acts of congress
will arrest, delay or mitigate the
working out of the great natural
forces now '- The patient's
fever PnPms to have broken, and there
remains now the process of building
up his strength, for which time and
care are the main requisites."
Rates Cut for Children.
WALLA WALLA, Wash., Jan. 1.
(Special.) The Walla Walla Valley
Railway company has announced re
duced rates for school children under
18 years of age on the interurban.
The new tariff becomes effective
January 5. Books of tickets will be
sold for 33 rides. Some of the inter
urban trains will be run to Main
and First streets at this time. The
8 and 9 o'clock cars and the 4, 5 ahd 6
P. M. cars will use the new terminals.
FRIEDLANDER'S
GOLDEN ANNIVERSARY,
JUBILEE SALE.
See Page 13.
This Section.
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A brilliant comedy
drama of Yankee Pep
woman's inconstancy
and American humor
Featuring
DAVID BUTLER
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HERE'S THE NEW YEAR RES
OLUTION PROGRAMME, AND
COMEDY AND FUN
KEATES' CONCERT
ON OUR MIGHTY-VOICED
$50,000 ORGAN
1. La Sorella . .v. .- .KfcMsKgw -By Borel
2. Hercules, from "Jocelyn". . . .;. ., By Codard
3. Woodland .Selection by Custave Luders
4. Prologue
The Liberty presents its mammoth spectacle,
"A Night in a Harem Up to Date."
5. Overture, "Bridle Rose". . ... . . ... .By Lavaller
PROMPTLY AT 12:30 TODAY
presents his Outing for Alimaniacs
V
X WWW 1 l
VI)
A MACK SENNETT
PRODUCTION
5
Rippling
Keeis
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Shows You...
How to vamp 'em
How to clamp 'em
How to knock 'em when
they roam
Where to trust 'em
How to bust 'em
How to bring the wan
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A Gloom-Chaser From the Gargle Inn
A Day of Divorces, Dilemmas and Delights!
Charles Murray, Ford Sterling, Phyllis Haver,
Marie Prevost and Twenty More
The Liberty Presents Its Mammoth Musical Spectacle
A NIGHT in a HAREM UP TO DATE
Introducing; Original Dancers, Singers and the Nubian Slave
Jazz Band Direction of Boio Paxha
I Hubbies. It
Shows You
I How to choose 'em
I How to lose 'em
I How to find the Jor In I
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I Where to meet 'em
I How to treat 'em
E3 How to hide 'em from I
your wife
NEW YEAR'S OREGONIAN
Order Now Single Copy 10c
Postage 6 cents in United States and Possessions;
Foreign 12 cents.
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