Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1916-11-03
BUSINESS CONDITIONS
GOOD ALL OVER COUNTRY
Federal Reserve Board Finds Extra.
ordinary Activity In Nearly
all Lines.
LABOR SHORTAGE REPORTED
Farmers In Richmond District in
Better Position Financially Than
Ever BefOre-Steady Ingress of
HOmcSeekcrs
IBy a ssocintc,I I,ress.I

!By Associated PressJ
WASHINGTON. November 2-The
Federal Reserve Boards monthly sum
mary announced to-day that general
conditions in all the twelve Federal
reserve districts Of the country were
satisfactory. with extraordinary ac-
tivity in nearly all lines. Labor
Shortag" was reported by nearly all
the district agents, and most OF them
referred to the increasing cost of
living.
The report from the Richmond dis
trict says farmers are in better posi-
ton financially than ever before as
the result of good crops and high
prices. There seems to be u steady
ihEress Of homcscckcrs, and a large
acreage Of virgin soil is being cleared
The cotton crop In that district is gen
orally reported short. the best sections
estimating Il yield of but so to 60
per cent. but the current price makes
each bale worth more than 500, in
! Guiding the seed. In few counties
in South Carolina. only 20 To 30 per
cent is reported. however, and small
planters there will barely be able to
pay this years bills.
TIL. tobacco crop is reportcd short
and in some sections ligh, in weight.
but there has been Il 100 Der cent in
crcas" in price over last year Tho
peanut crop viii probably be n little
below normal. but with quality and
prices good Conditions in the cotton
textile industry are most satisfactory,
with mills working to capacity. and
disposinE of their output at satisfac-
tory prices. Labor seems generally
well employed at good wages
HANK CLI:ARINGs INDICATE
GREAT BUSINESS ACTIVITY
Railroad earnings show decided
Improvement. the most noticeable being
On tho Norfolk and Western Railroad.
due To its heavy coal traffic. one line
serving II large Southern agricultural
section. reports a shortage OF 1900
ears. Exports from the district show
an increase Of 1870 per cent over last
year. represented largely by mules.
iron and steel products, cotton, grain
and food products. Bank clcarinEs
which have increased SO per cent, in
dicatc great business activity
In reference to IN" cost OF living.
the richmond report says:
High prices of crops bring many
comments az to tho high COAX OF living
ana expressions Of serious doubt as
|" how labor Is to support itself not
wi;hstarding high wages"
Reports from other districts follow:
A;lanta--Al lines Of industry report
cXtraordinary bright prospects for
autumn and winter trade. Labor con-
ditions satisfactory. despite some dis
iurbanccs. Business strong in retail
and wholesale lInea, some difficulty
being experienced in securing goods
Car shortage causing fear OF shutdown
of many plants.
Eoston-Gencral expansion of bust
icss and tendency toward create, actiy-
ity and higher prices in retail trade
Manufacturers cautious about making
future contracts until they are assured
OF materials.
New York-Dcsp!te high prices. re-
markable activity continues in mos;
business lines. with general tendency
toward further expansion. manufac-
turcrs being unable TO keep pace with
their orders and handicapped by labor
shortage and other dcterrcnts
NEUTRALITY-SUSPICIOUS. GOOD.
REPORTS PHILADELPHIA
lpha-Unpreceden good
business conditions. only com plant be-
Ing scarcity of materials and shortage
and high wages of labor. Retailers
preparing for heaviest Christmas trade
in their experience.
MISUNDERSTANDING in nearly ell lines
OF business ION scale the greatest
ever experienced" Car shortage caus-
ing delays in industrial work. Workers
being brought in from other sections
to relieve labor shortage.
Chicago-Continued business activity
in all lines. Ample bank funds: low
interest rates. Rising cost of raw ma
terials may cut into manufacturers
earnings.
st. Louis-Industries and business
generally report best business In years.
with sound financial conditions. Crops
spotted, but prices offsetting effects of
bad spots.
Minnea polis-Retail trade favorable
and wholesale and distributing lines
enjoying brisk business. Labor fully
employed at good wages. Business out
look bright.
Kansas City--Cnabated business ac
tivity. high prices onsetting reduced
agricultural production. Wholesalers.
retailers. jobbers and manufacturers
working TO capacity. General shortage
Of labor.
Dallas-Conditions continue satisfac-
tory. heavy wholesale and retail buy
ing. good collections. exceedingly salts
factory fall trade. High prices for in
creased volume OF agricultural COM
modities. Bankers. particularly In cot
ton sections, report unprecedented de-
posts. Car shortage serious
san Observation-Disclosures conditions
and outlook good except for inactivity
here and there. as in numbering and
real estate. National and State banks
show substantial gains i'm deposits and
loans. Acute shortage OF cars