Omaha daily bee., 1915-12-03
FEDERAL BANKS ON
BUSINESS OUTLOOK
Reports Of Reserve Agents on Com.
mercial and Manufacturing Fa-
vorable in Main.
BOSTON is LEAST OPTIMISTIC


WASHINGTON, d. c., Dec. a.
Reports of business conditions
throughout the country from federal
reserve agents are, in the main,
favorable and show improvement for
November. according to information
from these sources published today
by the Reserve board.
Boston. one OF the least optimistic
OF the twelve reserve districts, says
that their business has improved
but slightly, II at ALL" but that the
economies 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. presumably, among other
things, to the fact that labor is more
generally employed"
New York BusIness Better.
Activity and Improvement in trade and
industry continued during the month.
New York reports. Retail and depart
nent stores have food business very
much better with an increasing demand
for higher grade goods. Steel orders are
reported as very heavy notwithstanding
heavily advancing prices.
Philadelphia says that conditions
throughout that district are gradually be-
corning better and substantial imprve-
msnt Is reported In nearly all lines. mills
and factories OF all kinds working at
nearer normal capacity than for some
time. with voluntary wage increases by
some concerns, and reduced working
hours and larger payrolls than ever be.
fore.
aiE Demand for steel.
A tremendous demand for steel prod
ucts and unprecedented activity In the
steel and allied businesses continue
through the Cleveland district with
prices the highest since 1903. output from
automobile and rubber manufacturers IL
at capacity and there Is a scarcity OF
labor.
Futher development Of ''the very SAITH
factory general conditions heretofore re-
ported features the Richmond district.
This IL said TO be strongly in evidence
and general business Is described as in
excellent position both immediate and
prospective.
Atlanta reports conditions generally
there as representing more of a consin-
uation Of the favorable situation and out
look for the previous month than as
possessed Of new features.
Chicago Factories EaIarRinE.
Business development In the Chicago
district Is reported as favorable and con-
firms former reports OF general recovery
with accumulated orders for future de-
livery In steel equipment cars and heavy
structural forms exceeding all previous
experiences. Confidence in the future Is
held 10 be indicated by the large expecta-
tions being undertaken to enlarge out.
put.
st. Louis says there Is Indication OF :
considerable increase in business activit,
. IN all parts of that district. with busl
ness men optimistic as TO the future ans
generally confident. The Improvement Il
noted IN almost all lines and the nantes
Improvement IN the last two months Il
said 10 have gone far toward wiping ou
the losses of the early months OF thu
year.
Industrial conditions are reported gooC
IN the Minneapolis district. with labol
fully employed. Bank deposits have in
creased. with increases In loans and dis
counts over September.
Farmers Holding wheat.
Although farmers In the Kansas Cit,
district are reported as showing a de
clded inclination to hold wheat for highs
prices. a considerable amount IA nov
moving TO this market. with COLI
weather approaching. Improvement 4
looked fer In commercial Industrial an,
business conditions, and the district 4
said to be facing the next few months
with optimistic eomplacency
Reports FROM Texas. southern Okla
homa. northern Louisiana. southern New
Mexico and southeastern Arizona ar,
said 20 show gratifying recovery iron
conditions existing at this period u yea
aso.
San Francisco Is hoping for REASONABLY
stability in its commerce. it's report de
clares. with a perceptible betterment Il
numbering. with important inquiries AM
considerable buying. which have strength
ened the ''deterioriEed prices"