Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1919-05-29
Uniform Reports Point to
Flourishing Summer
and Autumn.
PUBLIC CONVINCED
PRICES ARE FIRM
Country Apparently Passing Thru
Period Of Free Expenditure in Re-
action From War Time Restrictions
Retail Trade Shows Most Notable
Rustle-Dstinct Revival Of Building
Despite High Pricss.

w Na6nlnBlOn, MAY sS'-<A hoSANSseA"
upward trend III business during May
especially In those lines related TO the
leading retail trades which have felt
the release of buying power held back
by the war, was reported today by the
federal reserve board. Practically uni
form reports from federal reserve
agents were sad to point to summer
and autumn of unusual activity.
A warning VAS added, however,
against accepting the prospective pros
perity ut it's face value until conditions
became more clarified.
The country seems TO be passing
thr. = period Of free expenditure or
reaction from the enforced economy
aud business restrictions OF the war,
a statement py the board said. III
the present activity should prove to be
based principally on these causes, u
reaction may be looked fcr when these
forces have spent themselves"
The price and reconstruction situ-
alton was said TO be practically con-
tinuation Of that already noted in April
when prices showed no tendencw to
decrease One federal reserve bank
found that the public IS slowly ad-
justing itself to the conviction that
there is to be 10 rapid postwar drop
in prices and is reconciiing itself to
the probability that the prewar prices
may never again be reached.
T. Hogs and Cattle High.
Agriculturally, the remarkable pro-
mise Of the early spring appears TO BE-
sustained in an unusual degree, the
statement said. Dlversification due to
organized effort is making progress
and cash returns TO farmers are ex-
pected 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.
Short Fuel Production.
In steel and iron the months output
fell to the lowest figures In many
months, but much better tone in the
market was noted. While the bitumi-
nous coal industry was reported de-
pressed, with an output less than 70
per cent OF that a year ago. operators
were said to be optimistic for the fu-
ture. The current use Of fuel is in ex-
cess Of production.
Shoe Price Boosted.
General manufacturing was said to
be showing decided Improvement. The
wool market was strong with prices in
favor Of the seller. Large orders have
been placed for yarns and finished
goods and woolen and worsted mills
are going back to full time. These con-
ditions are reflected in the demand for
dry goods and shoes. Shoe prices are
being marked up for fall delivery the
outlook being for an increase of Is to
so cents pair for retailers.
Retail Trade Strong.
Retail trade is assuming unprece-
dented volume, while prices continue
at normally high. Retailers in most sec
tions had made little or no adjustment,
but continue to demand prices based
upon war conditions the board said. In
New York large establishments re-
ported business two thirds greater
than year ago and in Chicago re-
turns range from 25 to 80 per cent in
excess Of 1918. In the south there is
said to be mo contraction in the pub
lie buying power" while a greater pro-
portion OF cash sales Is reported.
Building Revival.
In building there has been distinct
revival. Real estate values were said
to be hardening with sales Of farm
lands on the increase.
'The banking position of the country
Is reported as on the whole sound,
present circumstances considered" the
board said, and reserve percentages
nf the tedaral reserve systey. ha:c
shown an ability to hold their own"