Evening star. [volume] (Washington, D.C.) 1854-1972, 1915-07-02
REPORT MADE FOR June
BY THE RESERVE BANKS
Little Change Noted in Territory
Which Embraces District
Of Columbia.
General Trade Conditions and BUSH
ness Activity Outlined in Bull
letin Issued by Board.

Little change has been observed in
the fifth federal reserve district-which
includes the District of Columbia, with
headquarters at Richmond. and taking
in Baltimore. Virginia. Maryland, North
Carolina, South Carolina and most of
West Virginia-either in general trade
conditions or in particular lines of
business activity in the last thirty days.
This is the statement contained in the
bulletin of the federal reserve board
for June. just issued. Last month con-
ditions were reported hopeful. but ap-
parently more or less stagnant.
ut can fairly be said." states the re-
port contained in the bulletin, that
any progress heretofore evidenced has
been held, although no material fur
| Their development is shown, as indeed
might naturally be expected in a terri
tory SO largely agricultural and dur
| ing period Immediately preceding the
earliest movement of it's farm prod
ucts.
Retail Trade Quiet.
Retail trade generally is quiet. re-
fecting economies practiced by ulti-
| mate consumers. These are manifest
particularly in cotton and tobacco ter
ritories.
Some of the cotton mills claim to be
making money, but it is probably the
fact that most of them are satisfied
with nominal profits.
Lumber is in poor position, with little
prospect of improvement In the imme-
date future. Tobacco has been over
planted. Stands are excellent, but pros
poets point at the moment to yield
which. in connection with the great
quantity of the staple now being car
ried by warehousemen, suggests prices
in the future which will not be accep-
table to the growers. Diversification
should help generous number or
farmers who have undertaken IT, even
should it happen that the price OF
grains be lower than the high water
marks reached by them some months
ago.
No Demand for Fresh Credits.
"While the banks at our centers prob
ably are holding very little more than
reserve requirements demand, 1t is also
true that they are not being called
upon for fresh credits in any large
way. The interior banks, having met
the spring demands of their customers,
will require very little further aid un-
til possibly the actual movement of the
larger staples will demand currency
against temporary credits.
There is no demand from any large
direction for further liquidation, sug-
costing that creditors are satisfied both
with. immediate conditions and pros
poets. In other words, the general sit
uation seems to be sound and in posi-
ton promptly to develop as conditions
permit
Hope for Good Crops.
The report Of conditions in the va
rious districts of the system, this
month, make little If any reference
to the big industrial activity on orders
for foreign consumption as compared
with the general slackness Of domestic
trade But the same conditions in the
general trade appear to exist. with
great hopes for the future largely
founded on good crop prospects. Espe-
cially from New York, the great port
of the United States. does it appear
that exports are largely In excess of
comparative figures for last year, indi-
eating the trend of business.