The Daily Ardmoreite. [volume] (Ardmore, Okla.) 1893-current, 1919-08-02
NO RELIEF FORESEEN
BY RESERVE BOARD
FROM HIGH PRICES
CONTINUATION OF PREVAILING
LEVEL FOR SOME TIME Is
INDICATED

Washington. August mo relief
from present high prices is forecast
in the federal reserve boards monthly
review OF business conditions issued
today, which notes that July saw in
creases in many lines.
In general the review said. there
is n disposition to accept present price
levels and to expect a continuation OF
the prevailing level for some time TO
come"
In many districts high prices have
not served to check demand, but the
possibility OF obtaining goods was
found TO be of greater moment to the
buyer than the price fixed. On the
other hand, the board said, the very
great" price increases which have
taken place in certain lines have made
buyers more cautious, care being taken
not to increase unduly stocks acquired
At the present price level for fear a de-
cline might occur.
Continued hign prices. along with
constant growth in trade, both whole
sale and retail. and increased activity
IN some of the basic industries, sus'
tained confidence in the industrial sit
uation and led to expansion i'm many
lines. Almost the only complaints heard
concern shortage of raw materials and,
in few districts. labor troubles, al
though a majority of the districts re-
port normal labor conditions.
Labor Shortage Feared
Instead of fear of unemployment,
which had been expressed during the
early part of the year" the board said,
the reports received manifest the fear
of an impending shortage of labor.
The exodus of alien workers was
blamed in part.
The agricultural outlook on the whole
was reported favorable, with indica'
tons that the cotton crop would be
much shorter than previously indicat
ed.
Manufacturing continues active
marked advances in prices having oc-
CURED in cotton goods. with many mills
oversold. Export orders We're said to
be large Raw wool still is in heavy
demand and revival in building has
continued.
Turning to the financial situation,
the board declared that while specu'
lation continued at an unprecedented
" high level, an investment demand
for stocks has revealed itself, leading
to the withdrawal of an unusual amount
of shares from the market. The bank
ing situation was reported sound, cred
il and collection conditions good ana
failures small and few.
Conditions by Districts
Conditions by districts were announc-
ed to include
Richmond-the rising tide of activity
continues in all lines and confidence IN
the general stability of business may
be regarded as established.
Atlanta-Practically all lines of busi'
ness increasingly active, although the
AGRICULTURAL outlook especially regards
cotton Is not as encouraging as
month ago
St. Louis-The business situation
continues excellent; wholesalers ana
retailers in most lines are doing an
active and in some cases a record busi-
ness. There are complaints of diff
Guilty in obtaining raw materials, and
skilled labor.
Kansas City-Business and Industrial
activity which prevailed in the month
of June is extending through July
and there is no indication of a slowing
down of this activity for many weeks
or months to come.
Dallas-There has been practically |
no summer dullness in trade and finan-
cial circles this year, this unusual CON
dtion being attributable largely to the
petroleum industry, which has exert
ed a very favorable influence on trade