Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1916-05-01
GENERAL PROSPERITY
THROUGHOUT COUNTRY
Records Now Being Piled Up Ma.
Stand for Years as Apex Of In
duStrfal Earnings.
PESSIMISTIC
REPORTS
Every Federal Reserve District Sends
Glowing Recital of Big Business
i'm Every Line. With Good Collcc.
tions and Brilliant Prospects.

WASHINGTcN. April 30--Reports
from all over the country printed in
tho May bulletin OF the Federal Re
serve Board. indicate general prosper
ity throughout the country. OF the
New York district, the bulletin says:
The volume OF goods produced and
sold last month was probably greater
than in any March on record The
business activity and the prevailing
high prices arc bcinG reflected in the
earnings and cash balances shown in
published statements OF CORPORATIONS
Country merchants are reported TO
he buying moro goods than at any
time since 1907.
steel is report cd practically al, sold
up, with orders for six months ahead.
THE lumber trade is improving, and
prices Increasing. Business is less ac-
tive in building materials; larger jobs
arc about completed and new work
does not offer sufficient margin OF
profit.
Department stores report larger
sales OF bettcr-grade wearing apparel.
More money is seen in circulation"
CHICAGO DISTRICT
INCREASES ACTIVITY
O.
tvity continues TO manifest itself
without evidence of strain upon tho
financial structure. The bulletin saws:
Bankers. manufacturers and mer-
chants are generally united In their
favorable views on the business exist
Ing and in prospect, but some call at
tention to the danger from heavy pur-
chases At high prices, as such commit
ments are somewhat speculative, their
successful termination depending upon
uncertain and uncomfortable external
conditions. Construction throughout
this district ia quite active. particu-
larry In the manufacturing centers, and
TINS probably will continue as long as
the underlying causes operate
The local mail-order houses show
increases in their sales through this
district. with marked activity in auto
mobile supplies. groceries. sporting
goods and textiles"
The report on the San Francisco dis
trict says: Acute shortage has caused
unparalleled activity in shipbuiIdinc
Seattle reports contracts agErcgatinp
sll,ooo,00e, nearly four times rhe total
AT TINS time last year. The principal
ouiider AT San Francisco is said to hav.
contracts i'll excess of $4,000 900, with
no diminution of demand even with
important advances in price because
OIL increased prices for material and
labor.
california petroleum production
averaged in March 242,656 barrels ner
day, as against 233,495 barrels in Feb
ruary. Daily shipments from fields
were eTG,37S and 25S,264 for the re-
spectivo months, reducing the amount
mately 100000 barrels reduction since
May. 1915. Eastern dealers are report-
ed as insistent buyers OF all available
gasoline and distillate on this coast.
GOOD Distribution
AND GOOD COLLECTIONS
Merchants generally report good
distribution and good collections"
In the Boston district. business con-
tinues to improve. Reports from va
rious lines OF trade do not Indicate
any slowing up of the demands. Man
ufacturers and merchants generally
arc making money.
The outstanding feature of the bus
moss situation in tho Philadelphia dis
trict is the rising prices which con-
tinue In most lines. Trade is brisk,
and manufacturing plants are work
ing to capacity.
There has been no substantial slow.
ing down in the business prosperity
of the Cleveland district. The earnings
OF steel companies and concerns in kim
dred lines are continuing at an unpre
cedented rate. Official figures and un-
official estimates from leading corpora
tions in this district. if continued dur
ing the balance OF the year. will as
Nt.h
apex OF industrial earnings for years
10 come.
business continues TO show improve
mcnt and agricultural conditions ON
tho whole arc favorable I'm the Rich
mond district. Tho outlook continues
Continued on Third Page.)