El Paso herald. (El Paso, Tex.) 1901-1931, 1919-11-06
HEAVY
TRADE IN TEXAS
Bank Reports West Texas
Conditions Good; Grow
ing Exports to Mexico.

Dallas, Tex, Nov. 6.-Whils pre-
dieting unprecedented fail trading &C
tivity in this district, the monthly
statement Of the Federal Reserve bank
Of Dallas declares the cotton yield
in Texas will be even more disap-
pointing than previously forecast"
The report, which is prepared under
direction OF ". F. Ramsey, the fed
eral reserve agent, concludes, how
ever, that there scene no ground for
pessimism with respect to conditions
in the district as 4 whole"
IN many lines cash sales during
the fall and early winter months are
expected 70 exceed previous records, 20
the unfavorable effect Of the lateness
OF the cotton crops. collections are
generally reported as proceeding al
a satisfactory rate"
Cotton Dictionaries.
Referring TO the cotton situation
the report declares adverse weather
conditions which have prevailed in
the district for the past 80 days have
made for a further deterioration in
crops, especially cotton, and in Texas,
at any rate. the yield Of the staple
VIII be even more disappointing than
cult to approximate the extent Of the
shortage The resultant loss to grow
ers, although partially offset by the
rising market, will unQuestiouably
necessitate some revision as to the
extent OF fall nquidatiOns-"
"Protracted rains" the report con-
tlnuess while doing great damage
from an agricultural standpoint are
OF incalculable benefit to the live
stock interests; the district apparent
ly is free from labor discord, as OBJ
tains in many cities in the north ana
east, and there is a ring Of prosperity
in the reports at hand"
The report says 1t is freely pre-
dicted that the yield Of cotton in
Texas viii not exceed 1850. 600 bales
while the wheat crop for this year
Is estimated TO be 25,00O,000 bushels
in excess OF that Of 19lS-' Shipments
have been hindered by the acute car
shortage" but "it Is thought the bulk
OF the crop viii be moved within the
next 30 days.
Deposits show Growth.
Bankers in the district declare the
demand for money continues active
and deposits Of member banks show
a steady growth. as reflected in their
reserve balances here, which on Octo-
Der 23rd were 51,776,698s compared
with S43.597,7O on September Z3rd-"
Bank clearings in Austin, Beaumont
Dallas. Fl Pasor Fort Worth, Calves
ton, Houston, Shreveport and Waco
for September, 1913, we're $500, 276s 977s
compared with S352.944, $50 in Septem-
Der. 1918, an increasc Of 19.1 per cent
Building activities as reported in
our last letter continue undated,
the report continues Construction
work is still severely handicapped by
the shortage Of labor and some IN
rerrupEions from strikes and labor
disturbances have been reported
Exports Of various commodities TO
Mexico are in Increasing volume and
from Beaumont especially the service
continues without interruption
Exports valued at SSs,0lo,sss moved
from Galveston in august as COM
pared with s43,043,274 In July anu
SIS, 20S.S50 IN June
Rains Help WeEt Tear.
Recent rains In west Texas have
relieved conditions there apparently
and placed the ranges in excellent
condition Both grass and feedstuffs
are reported as plentiful and stock
men are wen prepared for the winter.
Breeding herds, however, are greatly
DEPLETED and unless the breeders are
able to obtain needed financial as
sistance, further sacrifices OF herds
are inevitable.
Labor and transportation facilities,
always the principal problems con-
fronting the two most promising IN
fant Industries OF the Eleventh dis
Misunderstanding and mining
present increased difficulties to the
existing abnormal situation
There have been no material
changes in the oil situation during
the past 80 days Such slight falling
off IN the production Is Is reported
from certain sections Of the Ranger
field has been more than offset IN
increases else7 here, including pro-
duction from the new wells In recent
extensions Of the proven field Prices
remain stationary.
"An exceptionally heavy volume OF
sales is reported in all lines OF retail
trade and the call for high priced
merchandise shows no sign Of dimin-
fshing. Wholesale houses throughout
the district report a continuance OF
an almost unprecedented volume 10
fall tra-e."