McAbee predicts Hemingray business to be the same as 1929

1930 OUTLOOK

FOR MUNCIE

IS BRIGHT

Bankers and Business

Men Optimistic.

BOOM EXPECTED

Regard Conditions As

Better.

That 1930 apparently holds bright for Muncie is indicated by optimistic declarations made, Monday, by heads of local financial industrial institutions.

It is consensus of opinion that the coming year will see business boom­ing here and citizens basking in a wave of prosperity.

According to bankers of the city, financial conditions are improving and money is not so scarce as in the past. It was predicted Monday that loans will be more easily obtained and the tense financial situation lessened.

Industrial leaders believe their volume of business will be increased and most of them are going ahead with plans for greater outputs.

In fact a feeling of optimism seems to permeate the air, and con­fidence that 1930 will see an im­provement in conditions, is expressed.

Building conditions, it was pointed out, have been in a slump for some time, but providing more money is available, there probably will be a larger construction program inaug­urated here.

Unrest Temporary.

The present unrest and unem­ployment is regarded as only tem­porary, and the early part of the new year, it is predicted, will see industries back to normal, or at least near that point.

GEORGE N. HIGMAN, Mutual Home and Savings Association — The financial condition is improving and the outlook for next year is good. We have been gaining during the last two months and feel much easier regarding the future. Money will probably not be as tight in 1930 as it has been this year, and condi­tions indicate a renewal of pros­perity.

CARL O’HARRA, W. A. McNaughton Company — Our organization is improving, and the future looks very flattering. We have made vast improvements in our merchanding [sic] merchanting and buying, and believe the new year holds great prospects for our con­cern. In fact we are very optimistic. While the last year, as a whole, compares favorably with preceding ones, the last three months were not up to standard. Had they been, it would have been our greatest year. December buying raised the average, but even then, the Christmas buying was not as heavy as last year. The trend is toward more buying and the people are spending money more freely. Yes, I would say our in­stitution should be very successful during 1930.

R. T. JACKSON, American Lawnmower Company — We are not in the least pessimistic over the future and think 1930 will find things running smoothly. Business should be at least 80 percent normal and prob­ably upward from that figure.

FRANK SACKSTETTER, Alad­din Manufacturing Company — Things look more promising for 1930, than in the last two months. I am leaving today for New York, to see the sales representatives and present them with the new line of our products. We have gone to considerable trouble in improving this line and with this in mind, it would show we believe the future holds great promise. It would indi­cate business is improving. Today we received more orders than for the corresponding date at any time in our history and in fact about ten times as much as we would normally expect, thus showing that the business slump is gradually breaking. Another good indication that we believe business will be bet­ter next year, is that our salesmen are starting out with their new line next Monday, a week earlier than heretofore. Yes, we are very opti­mistic /er our prospects.

Expect Better Year.

F. M. HUGHES, Maxon - Premix Burner Company — Inasmuch as about 96 percent of our business is done outside of the city, I can say little about what conditions will be in Muncie. For this firm, they do look exceedingly bright in 1930. We anticipate a better year than in 1929. which was even greater than the proceeding one. We have no complaint to make. From the in­quiries we have received, and from what I see here at present with the pulse beat of our business lower than at any time of the year, I would say 1930 will see business on the boom. It indicates a general move­ment toward "going ahead" all over the county. I am not saying this merely to be optimistic, but because I actually believe this to be a fact.

P. W. McABEE, Hemingray Glass Company — So far as we can see, we will probably enjoy the same volume of business we did in 1929 and will undoubtedly have the same volume of operations. There have been no material changes in our rather re­stricted participation in the glass field. We may be 'all wet' in pre­dicting an encouraging future, but then indications point that way. You reline tanks when you have to and not when you want to. While our volume of operation is not in full force now, this let down is only temporary and business will soon be normal.

A. GROULEFF, Grouleff-Mauck Lumber Company — Building condi­tions in Muncie for the last six months have not been up to par. If the loans open up next year, the city will see an increased building pro­gram, but on the other hand, if the loans are hard to obtain as they have been for the last six months, business will not be so good. So you see it all depends on how money conditions develop.

Ninety-five per cent of the peo­ple who build homes, do so through loan companies. They get the limit on the loan, because a property is easier to sell when it has been pur­chased this way. It only requires a small down payment and the aver­age person is more in position to pay this small amount than a larger sum. I would say that building con­ditions. whether they improve or re­main in the present slump in 1930, depend largely upon whether money is close or in circulation in greater volume.

E. ARTHUR BALL. Ball Brothers Company: The general outlook for this country is very optimistic. From everything I have heard, general business conditions are due for a decided pick-up in 1930 despite the stock market crash this year. That was but the natural reaction after the peak in stock prices had been reached.

FRED J. PETTY, Ball Brothers Company: We know that business is fundamentally sound and the coun­try should pull together in keeping it that way. While stock market prices are comparatively low. they cannot affect the fact that the larger industries are extending them­selves. This will undoubtedly make itself felt among all business. The outlook is better for 1930.