The sun. [volume] (New York [N.Y.]) 1833-1916, 1916-06-02
HIGH TIDE REACHED
IN u. s. PROSPERITY
Federal Reserve Board Reports
More Cautious Attitude
Toward Future.
LABOR UNREST NOTED

wAsurNGrox. June The high tide
OF the country's prosperity has been
reached, according to n summary OF re-
ports on business conditions from the
Federal reserve agents Of the twelve
regional districts. made public by the
Federal Reserve Board to-day.
General business and banking con-
ditions reported Ivy Federal reserve
agents" said the boards summary. i'm
dictate IN general that business activity
In the United States has perhaps reached
the maximum of the present movement.
"orders covering factory outputs to
the end Of the year AZ maximum capac-
ity. a more cautious attitude as to the
future. considerable unrest on the part
Of labor, even where most highly COM
pensated. and a slightly less favorable
outlook In respect to some OF the grow
reasons given.
q the other hand more favorable
crop conditions are reported In some dis
tricts. even though the spring has been
generally very late Mine and oil wells
are exceedingly active. although the lat
ter are IL some sections somewhat affected
by lab ! Conditions.
There il hardly any perccptibie har-
deniny of mouey rates and the supply
OF loanab'e funds continues more than
ample. Railroad earnings. where no,
iuJurious,y Affected by congestion at sea
ports. are generally excellent. and the
only bad signs In this Industry are the
impending labor d nicu,tics. Post office
and other similar receipts appear to be
at "A maximum everywhere
Here are excerpts from the report Of
the reserve agent at New York:
"A continuance of good and very ac-
tive business u reported by correspond
cnts in all sections of the Federal re.
serve district OF New York. Nearly
every report refers TO the blckwardness
OF the season. the scarcity Of materials
and labor. difficulties ~ transportation
Increasing pay rolls and advancing prices.
collections ar. sdid 20 bc unusually
good except IN country places where i'm
passable roads cause slow payments,
Several savings banks IN this district
have reported larger net deposits and a
better ratio of Increase than in the cor
responding period "f last year. one
larg" institution attributes the increase
to high wages.
Wages in general arc probably higher
than ever before. Yet many strikes oc-
CURED during the mon'h over questions
of wages. hours and unions. Such acute
unrest OF many thousands Of worker
is causing much concern.
"Th. congestion ~ export freight IL
still serious. Railroad ears are not a.
cumulatinS 50 rapidly as was the case 4
month or two ago. hut "mhareucs rcmbi'I
on many lines. shipments ar. facilitate
when shippers furr'sh assurance TO III,
railways that space on board ship has
been secured and that no delay Will ut-
cur In handling tn" goods n this port
"Freight FOR local delivery has been
also held NJ IN great quantities or nc
count ~ tho strike of marine engineers
and the Shortaee OF lighters necessary
10 move IL across the rivers. while th'
towboa.s were tied M II was reported
that nifty we're thus prevented
from discharging their cargoc@ of i'm
port freight.
The New York clearing House mem
bers on May %. 1916. reported asgrc-
gate loans. &C.. s3.2So.0u .uou. deposit
s3.5la032. 600 and cAc.ss reserves SIS,
g5a, oU0. Since April /, 1915, loans have
Increased sld.33i,0oo. deposits decreased
s+6, g2J, 1000 and excess reserves de
creased si6.Ss7, 900 EXCHANGES THROUGH
the Clearing House duriuS the month in
! creased s2.>l0.e5l.i>2 over last year.
statistics Of failures in this state
show in April "A decrease Of IA Ia mum
Der and SIG. 0s0.5Oi in Liabilities com
pared with "A year ago"