Bisbee daily review., 1916-08-01
PACIFIC SLOPE STATES
 ARE REGISTERING
Federal Reserve Bank Re- ports Metals and Shipbuild- ing Rooms; Seattle Clear ings Double

SAN FRANCISCO, July 31.-- Busi ness conditions throughout the 12th Federal District, comprising most of the Pacific Slope states, continue tc show gradua Improvement, accord ing to the report for July of the Feeder ] al Reserve Bank. In most of the cit ies in the district bank clearings, says the report, were considerably larger during June this year, as compared with June a year ago. This is nota- ply the case in Seattle where there was an increase of 106 percent.
 Highest Interest Rates
 A mild note of warning. however, ] is issued in the statement that that a faster pase of loan increase suggests the probability of firmer in- 1 terest rates and is, of course, one of the first signals of caution" The 18th Federal Reserve District comprises tie states of Arizona. California, Ida ho, Nevada, Oregon, Utah and Wash ingtOn.
 Seattle Gains Most
 In the 18th Federal Reserve Dis trict, says the report, moderate gen. eral expansion of business continues. Bank clearings in r cities show an increase in June, 1916, compared with June, 1915, of approximately 30 per cent, Seattle showing 106 per cent gain. Both the deposits of member ,1- has -1, over the corresponding date last year Between the Comptroller's two calls. May and June 90 this year. the rate of increase in loans has been greater than during the preceding ten months and greater than the rate of increase in deposits. A faster pace of loan in- crease suggests the probability of iirmer rates and is, of course, one of the first signals for caution.
 More Building
 Building permits in r cities dur ing June increased about 12 per cent over the total of the corresponding month last year.
 The lumber situation in Washing ton, Oregon and California is less promising than a month ago. There has been a slackening of activity with scftening prices. Many mills which 3 short time ago were operating at full capacity are now running on short time and some are shutting down. The apparent Over-prCduction is attribut- ed in part to difficulties in transpor- tation, due both to lack of bottoms and to the longshoremen's strike af- fecting the entire Pacific coast. There is expectation of renewed activity dur ing the fall months.
 Metal Mining Rooms
 Metal mining continues without abatement it's exceedingly profitable activity. Petroleum production in California during June averaged 255, 451 barrels per day, daily increase over May of 5000 barrels but ship ments were 3O4,g46 barrels, a new high record During the first half of this year storage stocks decreased 5,947,133 barrels, a daily average of 32, ST barrels. Crude petroleum in storage June 30, 1916, amounted to 51, 1,19r,9S1 barrels. Prices to consum- CTS have been advanced during the past month about cents per barrel.
 Growers of live stock continue to benefit largely by exceptionally high prices The wool clip has been large ly marketed at prices approximately 90 cents a pound.
 Wheat Crop Smaller
 In the Northwest, wheat acreage is materially less than for the last two years. Recent reports indicate weath CT conditions more favorable than in the early spring Recent estimates are that the crop will be 55.OOO,OO0 to 60.000,000 bushels with about 15.000 900 bushels carried over. Lack of bot toms las forced shipments by rail, a factor of greater transportation cost which affects prices unfavorably.
 The barley crop is reported about of normal size. A heavy export de-