Evening star., 1915-12-02
NOVEMBER REPORTS
ON BUSINESS GOOD
Conditions in Federal Reserve
District Termed Generally
Satisfactory.
MINES ARE BEING WORKED
TO LIMIT OF CAPACITIES
Sale of Cotton at Top Prices
Has Permitted Generous
Z
Liquidation.

Liquidation.
!
I November has witnessed further de-
relopment of the very satisfactory
general conditions heretofore reported
as strongly in evidence IN the Hlth
federal reserve district. which lnciudes
Washington, according to the monthly
bulletin of the federal reserve board.
The Carolinas sold cotton freely at
top prices. and in doing so permitted
general and generous liquidation. With
the recent softening in the market for
cotton the planters are somewhat dis
posed to store it rather than force It's
sale.
The weather has been most favorable
for outdoor operations. Many farmers.
in deferring the handling of the re-
mainder of their crops. are preparing
some share of their land for wheat.
Tobacco both natural and manufac-
tured. is in satisfactory position
Coal Mines Are Busy.
Some coal concerns are now doing the
largest business in their history. At
some points there is car shortage.
Mines are working at full capacity, and
some concerns have ceased giving out
quotations on spot product. While a
heavy export demand continues, the
consumption for domestic purposes Is
very greatly increased. Prospects for
the future are better than fair, op
orators fearing only the possible han
dicap of shortage in labor.
The lumber industry is improving
slowly. and an increasing demand both
for export and domestic uses is antici-
pated.
I Manufacturing enterprises are doing
well, while jobbers are booking gem
serous orders from interior merchants
desiring to replenish exhausted stock.
Surplus Funds in Banks.
Collections are good. Commodity
liquidation has permitted borrowing
banks to meet their maturing obliga-
tions and has provided surplus funds.
For these there is at the moment no
real demand. Banks throughout the
district are in a more comfortable
position than for some years. Borrow
sers in many directions have been able
TO pay their Indebtedness, due to their
operations in the past season, and to
settle a generous share of debts carried
over from 1914.
While the banks are not able profit
ably to employ their full resources, it
is true that in the district as a whole
stion. both Immediately and prospec-
stively.
Labor is fully employed.
Reserve Board Optimistic.
: Reports on conditions throughout the
country from federal reserve agents
are in the main favorable and show
Improvement for November, according
to information from these sources pub
Slished today by the reserve board.
Boston, one of the least optimistic
of the twelve reserve districts, says
that there business has improved but
Slightly. If at all. but that the econ
somies of the past months are not now
being SO rigidly observed, and that the
public generally is spending money
more freely than in the past, due, pre-
ssuma bly,. among other things, to the
fact that labor is more generally EN-
pioyed.''
!. Activity and improvement in trade
Industry continued during the month.
New York reports. Retail and depart
ment stores have found business very
much better, with an increasing de-
smand for higher grade goods Steel or
ders are reported as very heavy. not
withstanding steadily advancing prices.
Pay Rolls Are Increasing.
Philadelphia says that conditions
throughout that district are gradually
becoming better and substantial i'm
provement is being reported in nearly
sall lines. with mills and factories of ali
kinds working at nearer normal ca
uacity than for some time with yolun-
Htary wage increases by some concerns
and reduced working hours and larger
pay rolls than ever before.
A tremendous demand for steel prod
ucts and unprecedented activity in the
fgrr.t
through the Cleveland district with
prices the highest since 1903. Outpu,
from automobile and rubber ulanufac-
turers is at capacity, and there is 3
scarcity of labor.
Atlanta reports general conditions
there representing more Of a con,
tinuation Of the favorable situation
and outlook for the previous montl
Orders Are Accumulating.
Business development in the Chica g
district is reported as favorable. ant
confirms former reports of general re
coveTy with accumulated orders for fu
ture delivery in steel equipment, car
and heavy structural forms, exceedin,
all previous experience. Confidence il
Z the future is held to be Indicated by tn
large expenditures being undertake.
3 to enlarge output.
st. Louis says there is indication o
Z a considerable increase in business &C
: tivity in all parts Of that district. wit
business men optimistic as TO the fu
ture and generally confident. The i'm
provement is noted ia almost ali lines
and the manifest Improvement in tn
last two months is said to have gon
far toward wiping out the losses 0
Z the early months Of the year.
: Industrial conditions are reporte
good in the Minneapolis district, wit
labor fully employed. Bank deposit
have Increased with increases in loan