Fulton County tribune. (Wauseon, Ohio) 1883-1925, 1919-06-06
BOARD REPORTS
/ BUSINESS GOOD
Free Spending Points to Era Of
Prosperity for the United
States.
WAR HELD UP MANY ORDERS
Statements From Federal Reserve
Agents said to Point to Summer
and Autumn Of Unusual
Prosperity.


upward trend In business during May, |
especially in those lines related to the
tending retail trades which have felt !
the release Of buying power held back
by the war, was reported by the fed
eral reserve board.
Practically uniform reports from fed
eral reserve agents were said to point
to a summer and autumn of unusual
activity.
A warning was added, however.
against accepting the prospective pros
perity at its full face value until con-
ditions become more clarified.
"The country seems to be passing
through a period of free expenditure
or reaction from the enforced economy
and business restrictions of the war
period" statement by the board said.
IF the present activity should prove
to be based principally on these causes,
a reaction may be looked for when
these forces have spent themselves"
: The price and reconstruction situa-
tion was said to be practically con-
tinuation Of that noted In April, with
prices showing no tendency to retro
grade. ~
One federal reserve bank found that
"the public is slowly adjusting itself
to the conviction that there is to be no
rapid postwar drop in prices and is
reconciling itself to the probability
that the old pre-war basis may never
again be reached"
Agriculturally. the remarkable prom
ise Of the early spring appears to be
sustained In an unusual degree, tho
statement said. Diversifcation due to
organized effort is making progress
and the cash returns to farmers are
expected to be more than ever before.
Prices Of cattle are considerably high
er than year ago, while sheep are
lower. Receipts Of hogs have been
smaller, with the price continuing to
advance.
In steel and iron the months output
fell to the lowest figures in many
months, but a much better tone in the
market was noted.
While the bituminous coal industry
was reported depressed, with an out
Put less than 70 per cent of that
year ago. operators we're said to be op-
timistic for the future. The current
use Of the fuel Is In excess Of produc-
ton. After several weeks of almost
no demand the copper market showed
n slight Improvement.
General manufacturing was said to
be showing decided Improvement. The
wool market were strong. with prices
In favor OF the seller. Large orders
have been placed for yarns and fin
ished goods and wooden and worsted
mills are going back to full time.
These conditions are reflected in the
demand for dry goods and shoes. shoe
prices are being marked up for fall
delivery. the outlook being for an in
creasa OF % to 80 cents a pair for
retailers.
Retl trade. is assuming unprece-
nente1 volume. While prices continue
pbnorl billy hithe Retailers In most
sectio had Vgde- little or no adjust
ment ut contRukd to demand prices
based ipon wUCCnditions. the board
snid. n New York large establish
mentd fep9Et a large volume Of busi-
ness Fo-thE@ 6feater than a year
ngo. in Ch(c4eR returns range from
20 TO per cent In excess OF 1913. In
the sbhth therb II E6aid to be mo con-
tracti in TIM gzbyc buying power"
while D greatef Proportion Of cash
sales reporad
In rIldInes there has been a dis
tinct bvival throughout the country.
Real Vestate values were said to be
hardening. with sales Of farm lands
on the increase.
"The banking position of the country
u reported as on the whole sound
present circumstances considered" the
board said. and reserve percentages
OF the federal reserve system have
shown an ability to hold their own