Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1917-06-04
BUSINESS CONDITIONS
ARE REGARDED AS SOUND
Noticeable Slowing Up In Some Lines.
Reports Chairman Caldwell Hardy,
of Local Reserve Runk

Noticeable Slowing Up In Some Lines,
Reports Chairman Caldwell Hardy,
of Local Reserve hank.
While general business conditions
are regarded as sound at this time,
there has been a noticeable slowing up
in some lines. with the result that
pending legislation is being awaited
with general interest, Caldwell Hardy.
chairman of the board OF directors of
the Richmond Reserve Bank, states Ia
his report Of business conditions for
the month OF June. 'Jobbcrs in some
lines report purchases are not being
freely made he said, and there is
some complaint Of slow collections.
? The season generally is backward,
and IN striking contrast with the wet
season OF last year, there has been
some lack of moisture. Strenuous eff
forts are being made for full crop,
food products receiving more wide
spread attention, and the yield of gar
den products promises to be beyond
anything ever before attained. Grain.
while more widely planted. is below
the average condition: tho same may
be said of cotton, the acreage in which
is estimated TO be about the same as
last year Reports as TO acreage In
tobacco vary, but the average would
probably be about the same as last
season.
agricultural implements arc scarce
nut crop OF the past season was very
profitable. The farmers supply has
been cleaned un. leaving only limited
stocks In the, hapds of cleaners and
1obbers. Fruit prospects. including
berries and peaches. are favorable. The
production of truck crops along the
seaboard, particularly potatoes. has
heen unusually heavy and profitable
Many hanks are advertising to HELM
especially those who are planting food
crops. Increased facilities for canning
excess vegetable crops are quite OK
tensive and are an important step in
food conservation.
Our financial preparation for war.
including the assistance TO be extended
directly to our allies, has naturally
been the overshadowins factor during
the past month. The uncertainties
naturally attending this unexpected
situation have injected some hesitancy
into every line Of business and every
vocation in life. The transition from
peace to war and the agitation of gov
eminent control of plants and prices
has been most disturbing.
This district has for years been
steadily growing i'm wealth and pros
perity, particularly In recent years. but
the field OF development has been 80
wide and the demand so great that its
resources have gone hack to the soil,
have gone into agricultural improve
Wen'S' OF ADDITIONS 10 manufacturing
and other plants. The result has been
that while the aggregate OF increas-
ing wealth has been steady and rapid,
the demand for capital has taxed the
resources Of its banks and drawn
largely upon weather. sections OF the
country. The liquid wealth nf the dis
trtct is. therefore. relatively limited.
There is widespread and patriotic
effort and desire in the district to meet
literally the national call for financing.
The district is being organized in every
direction. Men and women in every
walk Of life Will be offered an oppor-
tunity to do their hit. and il is CON
fidcntly expected that in proportion to
Its resources the district will acquit
itself creditably."