Imperial Valley press., 1917-08-03
DISTRICT twelve
MOST PROSPEROUS
REPORT PROGRESS IN THIS RE-
SERVE DISTRICT.
Coast States PrOspering as Never Be-
fore in Their History, Accord
ing to the Figures.
(By Associated Press)


Federal Reserve district are stated tc
be in satisfactory condition, accord
in,r to the official report made public
today. Production of foodstuffs IL
practically all lines shows substantial
increase, including tha salmon pack
Idaho apples and the California prune
crop. Stimulated by the shipbuilding
program, lumber production is said to
be at its maximum. abor shortage
IS reported as becoming serious. Fol
lowing is the report in detail:
About one-third OF the deposits in
the national banks of Ogden, Utah,
row aggregating Approximately g.,
100000 are from banks in the tribu-
tary territory, evidencing a growing
Importance as banking center, be-
cause of which the federal reserve
hoard has designated Ogden as a re-
serve city. The only effect of this
is to increase the amount of the re-
quired deposit with the Federal Re-
serve Bank from 7 per cent to 10
per cent of demand deposits. This in
c.eases the number of reserve cities
IL this district from seven to eight.
Between May /, 1917, and June 20,
1917, the total deposits in the national
ranks of these eight cities declined
S14 100000, showing decrease of S3,-
100000 in Los Angeles, $9,4OO,OOO in
San Francisco, 100000 in Portland
Sl.100,000 in Spokane, 100000 in Og-
den and 100000 in Seattle. Increases
were shown by the banks in Salt Lake
City and Tacoma. This shows the eff
feet of checking for investment in
Liberty bonds and for all other pur-
roses. Excluding deposits from other
banks, however. a slight net increase
is shown, those of San Francisco and
Los Angeles alone showing a decrease
slightly more than 100000 in each
city. Between the statements of
March 3 and June 20 the state banks
OF California show an increase in de-
rosits of ss63,OOO.
Bank clearings of nineteen princi-
pal cities of this district during the
first six months of 1917 increased SO
per cent over the corresponding pc
riod last year, Salt Lake City leading
with 90 per cent, followed by Seattle
With 45 per cent and San Francisco
with "A per cent.
Recent high temperature in South
err California reached the extraord
nary maximum of 116 degrees at some
Joints. Citrus fruit was unfavorably
affected, particularly navel oranges,
which mature about december, the
damage being estimated as high a.
20 per cent, with so to 60 per cent
damage estimated for Valencia oran-
ees and % per cent for lemons. Beans
olives and walnuts have likewise suf.
fered somewhat. Hot winds in Wash
ington and Oregon, coming at a crit
zeal time, have also somewhat cur
tailed the crop of wheat. Subsequent
rains and cool weather in these twr
states have been helpful. Incidentally
Luther Burbank, the famous agricul-
tural scientist, after ten years ex-
pcrimenting, announces the develop
ment of variety of wheat which i.
said to yield from 80 to 20 bushel.
per acre. Aside from the shrinkaee
mentioned, the general production o.
foodstuffs in this district is confirm
ing the previous prediction of larg,
increase over last year. The July
government report, for instance, est.
mates for Idaho, Oregon, Washiny.o.
aid California 44,O00.00O bushels OF
potatoes compared with 22,000.0 900 las
year. Barley in California. estimated
St 100000 tons, will double last
years production. In Utah, Oregon
Idaho and Nevada there are probabl,
10000 acres of sugar beets more thar
over before.
Idaho will produce twice as many
apples as last year, although the cror
o. Washington and Oregon will b,
somewhat less. The California prunt
crop will be large, probably reaching
?00,000,000 pounds, but that of thu
Northwest will be light.
Utah is foremost of all states ir
the condition of her crops, the govern
lnent estimate being 1915 per cent
C normal, with 1912 per cent TO,
Nevada.
The salmon pack is expected to b,
heavy, as this is the "sockeye year,
it being the experience that the sock
eye variety is very abundant every
fourth year The new pack will gC
upon the barest market ever known
Alaska has had many interesting de
| yelopments, of which the following i,