The Bridgeport times and evening farmer., 1919-01-10
SUMMARY OF
 WORK CONDITIONS

Washington, Jan. 10.---Transition of the country from a war to peace basis has proceeded thus far with very considerable smoothness and with de-
 cided lack of friction, says a. general
 summary of business conditions is- | sued yesterday by the Federal Re i serve Board.
 i Such slackening of business as has i occurred was described as dua to con
 servatism and hesitation, the outcome
 of desire to know more of the pub
 ltc policies and the probable trend of
 business. In the New York district industries are marking time await ing developments, due in part to a feeling that prices will decline"
 | Other districts report a similar con dition of affairs, but say generally the
 state of things is such as meets gen eral approval and calls forth the opi1 ion that the transition period is prov ing beneficial in it's effects. Thus far the process of readjusting labor is said to have caused little inconven- fence, since labor set free from war industries has been absorbed steadily by general business, relieving an ex- isiing shortage. Wages have not been reduced and in some cases have been increased.
 Agriculture was reported to be in
 an exceptionally promising condition. Tine farmer was said to be in the
 best financial shape for many years" Excellent crop prospects, were report
 ed, not only from the cotton region
 but also from the wheat States and
 from California.
 Tn the livestock region conditions fare much improved" and cattle prob
 q 5ly will go through the season in
 fair condition. There is an active and
 firmer tone in the beef trade, and rec lord purchases of animals have been
 made.
 Iron and steel are unsettled on ac-
 count of the cuts that already have
 been maze and the unexpected new price basis for them and for their derivatives. Orders for new business are of some assistance, but they are not yet of a volume sufficient to indi. cate that prices have become settled. While coal production has not re- covered the level which had been at tained prior to November, and while some shortage exists here and there the output is said to be again moving upward, car service has improved in certain sections and labor conditions are reported fairly satisfactory Production of copper and of other metals, which have been in excep- tional demand during the war, already is showing the effects of conversion of industry to a peace basis.
 -1 continent district have only about three months supply and regard the outlook as favorable. Stored stocks increased somewhat during the early autumn in California. but a shortage of gasoline is expected.
 In manufacturing, the outlook is by no means uniform. Freight is mov- ing fairly well. N1unition industries have largely reduced their activity Machine tool manufacturing is demor- alized on account of the cancellation T of government orders. Cotton and wool mills have been running full, bu ! the end of thrilled orders is approach. ing and little new business is being q placed. Shoe manufacturing is less active.
 There has been an increase in retai l trade, due to the holiday season, and 5 in consequence of relaxation of econ. omies due to the war. At some points q the report says, there would appear to be a development of extravagance ] rrices on the whole have shown only slight change.
 Building operations are still at 2 ? low level although increase is ex. 3 pected in the near future.