New Britain herald., 1919-08-01
Reserve Board Review Indicates
 Continuation at Present Level NEW ENGLAND SITUATION
Raw Material Market and Labor Un- rest, Are Big Problems For Manu- facturers i'll This District-Actual Shortage is Feared.

Washington. Aug. 1-No relief from federal reserve boards monthly re- view of business conditions issued to- day, which notes that July saw in- creases in many lines. "In general" the review said, there is disposi- tion to accept present price levels and to expect a continuation of the. pre- vailing level for some time to come.S' Buyers Wary of Decline.
 .,,In many districts high prices have moi. served to check demand, but the possibility of, obtaining goods was found to be of greater moment to the sbuyer than the price fixed On the other hand, the board said, the very great price increases vi hich have talk en place in certain lines have caused feeling that is more cautious care 'heing taken not to increase >.unduly stocks acquired at the present price level for fear a decline might occur.
 But Few Complaints Heard . Continued high prices, along with constant growth in trade both whole sal e*and retail and increased activity inS some of the. bs sic industries, sus- tained confidence in the industrial sit nation has led to exfansion in many : lines. Almost the only complaints heard concern shortage of raw ma terials and, in a few districts labor troubles, although sAnlajorityA of the districts report normal labor lcondi- tions .. Fear .Shorta2 2e Fof Labor. '' Instead of a'fear '*of unem ploy- nfent, which had been expected dur ing the early part of the year. the board said, the reports, received manifest; the fear of an ,sin pen ding shortage of labor" The exodus of alien workers was blamed in part. 7
 Agricultural Outlook Good. .'s
 The agricultural ot,tlock on the whole was reported fave rable with in- dications that the cotton crop would be much shorter than previously in dicated. Manufacturing continues ac- tive, marked. advances in prices haT- ing occurred in cotton gCods,s with many mills over sold. Export orders were safd to be large. Raw wool still is in heavy demand and revival in building has continued. .s9o
 Financial Situation Pleasing. .. Turning to the financial situation, the board declarede that while specu- laton continued at an unprecedented ly high level, an inI estment demand for stocks has revealed itself, leading 10 the withdrawal Of an unusual amount of shares from the market The bat l1ings situation was reported sound, credit and collection conditions good and failures small and few.
 Conditions in New England. Conditions by districts were de- scribed a S fellows:
 Bostoue-Tliere is apparently no abatement in the general industrial activity in the New England district The raw material market and the la Dor unrest have made the problem which our manufacturers face in creasingly difficult" ..
 New York-Commercial activity which commonly reaches it's climax in May has continued to the early sum- mer. and a generally favorable out lookis noted. y Philadelphia--The general business situation continues to show an in creasing demand for mef chandise at advancing prices and fundamental in dustries operating on larger. scale, but the abnorHlally high prices pre- vailing are viewed with disquietude.