The Washington herald. [volume] (Washington, D.C.) 1906-1939, 1915-09-02
PROSPERITY DUE .
To War Orders
Federal Agents Find East Does
Not Share the Vests
Prosperity.
BIG CROPS AID BUSINESS
Building Operations Take on New
Life and Several Industries Show
Marked Buoyancy.

The buoyancy of the West, where
every line of business and industry is
responsive to the tremendous crops
now being harvested, is not shared by
the East. according to the reports on
business conditions by the Federal re-
serve agents of the New York. Bos-
ton' and Philadelphia reserve districts,
published in the Federal Reserve Bull
letin today.
THESE reserve agents are Of the
opinion that for the most part pros
porous conditions still are confined to
the industries which are affected bv
war orders and that many spots" re-
main in the business fabric as a
whole.
The reports from the eastern districts
note a number of encouraging tenden-
cies. such as the taking on of life by
building operations, crop conditions
and buoyancy of special industries, but
they agree that the prosperity of the
industries which have been buoyed up
by emergency orders has not yet be-
come general
New York district: Industry was
more active, particularly in iron, steel,
machinery. wool and leather For
elgn orders are still the leading slim
uius. Labor unrest appeared in various
places, hut the differences were al
Justed in most cases and some Tong
standing strikes were settled. SUD-
urban real estate is dull; in Nev
York City a slow Improvement con-
times.
The New York bank clearings in
JULY totaled sS,695.413,567, an Increase
OF S5l4,92S.945 over July, 1914. Other
statistics compared for the same ne
RODS show building permits issued.
nifty for structures to cost s4,O97OSO
a gain of seven in number. but a de-
crease OF s50s.27o in amount: new in
eighty-four with au-
capital s27.400,OO0, an in
crease Of twenty-eight in number and
sl2.33O,O0O in amount: New York State
failures, 201 with liabilities of s2,47g,-
BIO, decrease of thirty-seven In
number and s5.276,715 in liabilities: !
on stock exchange, bonds !
500. $4,000, an increase of Si,7925OO; |
stock l4,326.S13 shares. an increase of |
), 1924 shares and of 3426,0O0 !
shares over June.
philadelphia dstrict-There has been
little change in business conditions in |
This district. The expected general i'm
provement has not appeared and the
outlook is uncertain. Emergency bust
ness continues to give employment to
ron and steel concerns and some wool |
md worsted mills up to almost full ca
'aCity, and it is hoped that this will soon
:reate activity in other lines of bust
less
Apart from emergency orders, textile
Mills are operating at 60 to 20 per cent |
Ia |
better than other lines. The lack of
lyestuffs continues to be a serious fac
or. Although n slight increase is re-
'orted in coal mining. the mines are only
working on half time. Petroleum refin-
rs and manufacturers of oil products
re working full time. Business is re-
orted good and the prices are advance
ng
shoe manufacturers report business
s sluggish and disappointing. Leather
high and prices are advancing. The
roCery trade is dull. Canned goods are
cling at very low prices. in some cases
Glow cost. Large tobacco dealers and
iGar manufacturers are busy. Drugs
nd chemicals continue to advance in
rice. The prices of lumber continue
wv.
Chicago district-August developments ,
the SevS nth district show the general /
lsiness advance. Weather conditions :
ave not been entirely seaSonahle. and ,
.tardcd harvesting and retail activity I
a few points. Good pasturaS" is gen I
al Better than average crops prevail i
yer the district but the quality will not I
rerage as high as usual. Grains are
ling marketed in increasing volume. In y
on and steel the leading interests have /
/ of their furnaces and rolling mills run I
ng to full capacity. Other manufacture
Iii Oh
Irticularly in railroad equipment. hard {
are. machinery. and building lumber I
eports from Detroit. Indianapolis. and d
her automobile ccnters indicate unusual I
mand for new models and engagements h
factory facilities" L