The daily commonwealth. (Greenwood, Leflore Co., Miss.) 1916-1919, 1917-06-02
FEDERAL RESERVE BANK
OF ST. LOUIS MAKES ITS
Report on Conditions in District No. For the
June 1st Issue of the Federal Reserve Bulletin
Business Outlook Healthy.
"a IA u p IA n


tire district. The rainfall during thie
period, generally speaking, was above
the normal. The agricultural devel.
opment has accordingly been some.
what retarded but rain was needed fol
sufficient sub-soil moisture and with
favorable weather conditions from
now on, it is believed that the agricul-
tural outlook will improve.
On May 9th, the Government issued
its report of condition of crops as Of
, May LIST. The wheat report showed
an unusually large percentage of &C.
reage abandoned and an unusually low
! percentage of condition for the Coun-
try at large. The reports on the wheat
crop in the States wholly or in part
within this district were some what
more encouraging than the reports
from other sections Of the Country.
The percentage Of acreage abandoned
in the large wheat producing sections
Of the district was on the average
smaller than in other sections of the
country; the percentage Of condition
showed improvement as compared to
the April 1st reports; and the fore
cast for the 1917 harvest from the
May 1st condition was larger than the
final estimate for 1916. It cannot be
said that the condition of the wheat
crop is satisfactory in this district; at
the same time it is believed that the
prospects are better than that hitherto
supposed.
Favorable reports are received from
the tobacco districts Of Kentucky and
Tennessee.
The cotton crop in the belt is un-
doubtedly two or three weeks later
than usual. Cultivation has been re-
tarded. In some sections replanting
is necessary and the high cost of seed
makes this a hardship. In an effort
to overcome the ravages of the boll-
weevil, farmers. have endeavored to
plant large percentage of their &C.
reage in early maturing varieties. The
high cost Of provisions and the scar /
city of labor, will undoubtedly increase
the cost of production of the 1917
crop and this may be factor in the
acreage planted, although present pri-
ces are very tempting to planters. Re-
ports on business in general in the cot
ton belt are satisfactory, one corre-
,pondent writing as follows: I'VE are
glad to report that our farmers are
planting good part Of their land in
grain and Notwithstanding the abnor-
nal conditions which confronts u, we
EEL safe in giving liberal credit to-
,ur customers, as we have done in
'ormer years" The stock Of cotton
IN hand in Memphis on May 18th is
till unusually large for this time Of
he year. The stock on this date
amounts to 297 thousand bales as
to 1876 thousand on the same
late in 1916; 12O thousand in 1915,
md 6 thousand in 1914.
The May 1st condition of rye as re-
,orted in the government crop report ,
# May 9Th, is satisfactory. The &C.
cage planted this year in the states
within this district is generally larger
han that harvested in 1915; the per- /
entage Of condition 10 fairly salts I
aetory, showing an Improvement ~
ompared to April 1st. Ii
Spring plowing and spring planting /
5 we'll advanced, the percentage for !
he states within this district being
generally above the ten year average. d
Reports indicate that the corn crop
] developing in satisfactory manner.
|outh Of the Missouri River consider {
ble corn il up and in some sections
Ields have been worked over once.
he<cold wet weather which was pre- 1
slsnt up to . few days ago, has re-
arded the growth. Some counties REL {
ort that ca,a hfd rottsd in the
fCnntinued nm papn Tnurl