The sun. [volume] (New York [N.Y.]) 1833-1916, 1915-08-05
MONEY TIGHT, SAYS
THE RESERY BOARD
Business Conditions Not Very
Encouraging, Except in
Munitions Lines.
STEEL AND COAL BOOMING

WASHINGTON. Aug. Mot much that
~ bulletin OF the Federal Reserve Board
describing business conditions through
out the country. In some districts money
Is reported tighter and business worse.
although money continues to accum-
ulate in the large cities and Is freer
IN the country districts" says the Bos-
ton report. banks are disinclined to put
out money at the low prevailing rates.
the feeling being that as the crop moving
period approaches there will be a better
demand for money and an immediate I'M
provement in rates.
'NSeneral business, except In a rev
lines. Is dull and orders are not coming
in 10 freely as heretofore. No accumu-
lation of goods Is reported In any mes
and the high prices OF staples. especially
in leather and wool. and the unwilling
mass Of tho merchants to Increase theif
merchandise are responsible no doubt Tor
much OF the dulness. Business seems
10 be waiting. but there Is a FEELING OF
optimism and It Is believed that from
now on an improvement may Do Ok
pected, though perhaps a slow one -
The Boston report adds hat the New
England summer resorts complain o'
moor attendance and dull business.
Cotton mill conditions in New BED,
ford are said TO be good. but In ran
River they are not so good as last
month. Wool Industries report poor
business. the price Of wool acting AS d
deterrent.
Good Crops In New York.
TIL. New York reserve agents repor,
generally a good crop outlook TOT NC"
York and northern New Jersey. except
hay. whic in some localities IL oeiow
average. Dairy business continues good'
-. - --s.sI hnuinAaa UanarAlN ~ TO-
por,ed slack In the New York district
rhe New York district report says;
.Some complaints have been made OF
the retail trade and the unsatisfactory
collections. Manufacturing in steer
leather and textile lines shows improve
ment. Great activity continues IN the
production OF supplies for hipmen &c
Europe. Building operations are cur
tailed and depression Is still evident u
lumber, foundries. implement works and
silk mills. Strikes that were referred
70 a month ago are still on In southern
and northern districts.
"Deposits generally are large. but II
most sections the demand FOR loans "a
very light. During June. the usual MID,
year inventory time. dulness prevailed
in New York city. Improvement In re-
tail trade has been reported recently
Wholesale houses say that collections
are SATISFACTORY. NoIc I INV ="
markets have developed. largely from
foreign orders, In such lines az steel
coal. leather and wool.
purchases OF cotton goods are re-
stricted by the weakness OF raw cotton
Labor is more fully employed and there
are strikes in some branches OF th<
clothing trade.
Real estate agents report conditions
better than a year ago and improved
rnaah pAtnD Ia
more active. especially in the large
ONCE buildings"
Uncertainty In Philadelphia.
The Philadelphia report says;
1.-THE most striking feature in TIL,
district Is the absence OF encouraging
reports on conditions. in Philadelphia
contrasted with the reported improve
ment in conditions throughout the res
of the district. In the Philadelphia vi
entity business In domestic lines is dul
and below normal. Almost no improve
ment Is perceptible over last month
A spirit Of caution and hesitation exists
The 4atlook Is uncertain. due perhaps
60 uncertainty regarding the bushes.
future OF certain standard industries
when the war shall have been termi
mated"
War orders. II Is explained. hav'
brought boom times to some town
outside Philadelphia. But these ar,
specialized. such as iron and steel. New
plants have been built and new ma
chinery has been installed. The numbe
Of men out OF employment has bee,
decreased.
A bright spot Is the Cleveland district
Since last December the business OF stee
manufacture has increased. The III
plate industry is especially fiourishinr
This Is based on war orders. whic
quickly consumed the supply OF came
goods on hand
"Generally speaking" says the repor,
"all steel mills are running PRACTICAL
full. with orders for several month
ahead. Steel men predict maximum
operations for the rest of this year an
At satisfactory prices"
The coke and coal business has I'm
proved. but lumber lags.
"Holding steady" In Richmond.
The Richmond bank reports tina
business viewed as a whole IL jus
about holding steady. which probabl
Is all that can be expected at this sea
SON." Retail trade is reported to b
very quiet.
The same conditions obtain in III
Atlanta district.
In the Chicag go district war order
nave brought the only prosperity tina
the people are enjoying. The steel plan,
are doing well, as in the Cleveland dis
trict.
The report from 81, Louis says Ger
orally business conditions show litt
change in the last thirty days. Cond
ions have not improved 80 rapidly a
indications seemed to warrant. and frol
present appearances Improvement will b
slow until after harvest"
Hope based on good prices il the pre-
vailing feeling In the Minnea polls dis
trict, The potato crop. a leading stab
IN Minnesota and Wisconsin, is UNUSUAL
good this year, Small grains are prom
ising. Retail trade is reported to be onl
normal and collections fair" The VI
employed are not so numerous. due
activity in copper mines.
Kansas City reports conditions abol
normal. no marked Improvement bein
shown over last month.
The Dallas district reports that bus
ness conditions are improving"
The san Fr~ncisco district repor
normal conditions and good prospecl
for crops.