El Paso herald. (El Paso, Tex.) 1901-1931, 1919-07-04
BANK REPORTS
GAINS IN TRADE
Crop and Business Condi-
tons in State Show
Improvement.

DallaS- IeXaS, July f--AS a whole
early predictions of good crops and
business conditions have been, fully
materialized. according to the month
y report of the federal reserve bank
Of Dallas. prepared by the reserve
agent. and made public today.
Nc hesitancy IN trade is noted, "
the report says. and when it IS borne
in mind that increased activities in
practically all lines are prevailing in
u lace OF steaal!y increasing prices.
II IS quite clear that profits arising
out OF business since the first OF the
year are of a most gratifying nature.
Crop conditions as a whole the
report continues. have felt the eff
fects of more rain than normal and
work has been retarded. but notwith-
standing this, expressions from all
quarters reflect q fairly favorable
situation
Little Change in Conditions.
The financial position Of the dis
trlct shows very little change during
the past 30 days and the generally
expanded condition Of banks is still
quite noticeable, but as the need for
government financing grows less. and
the liquidation season approaches.
there is every reason 10 believe that
the long continued imitation wiz
gradually cure itself. though the pro-
cess may be slow"
In regard to resumption Of building
activities. the report says:
There has. been no noticeable re-
sumption in building activities except
in localities affected favorably by To-
cal conditions. and in the sections i'm
mediately adjacent to Dallas strikes
have added TO the unsatisfactory con-
dition in that line"
An investigation throughout the
district, the review states. is basis for
the assertion that the wheat crop is
"oounteous one"
Shortage of Labor.
There has been excellent weather
Tor the wheat crop, and except for
lack Of labor. which has been short
throughout the belt, the harvest is
progressing WELL, the review states
Conservative estimates place the
bushels this, season. which is almost
double former records
The cat crop. in which a greatly
increased acreage was planted. is be
ing harvested, and the results are
very good
tended with some uncertainties, which
usually develop a little latet in the
season when hot winds and pro-
longed periods Of dryness viii upet
what appears TO be a good start. but
heayy moisture and excellent growing
conditions this season have put the
plant in a strong position. Acreage
has been increased in almost every
section throughout the district
The rice crop Il all planted. al
though delayed a little on account of
excessive rains. There is practically
no unsold surplus stocks in the hands
of millers at this time. and the out
look is regarded first class.
Peanut Acreage Reduced.
According 10 some authorities. the
district planted about 100000 acres of
peanuts last year, and. while there
seems to have been a reduction IN
acreage of perhaps - percent this
season. increased yield from some
sections apparently viii make up for
the short acreage. The price is high
and the demand for use as a substi-
tute for animal fats is steadily grow
ing"
Regarding wholesale and retail
trade generally. the review gives a
fairly optimistic outlook.
The labor situation. according to
the report, is becoming more acute as
the summer season advances. and it
promises to be a considerable factor
in all crops that are harvested later
in the year. principally cotton.
In the cities skilled labor is fully
empOyed at good wages. notwith-
standing strikes in north Texas and a
general unrest due TO an adjustment
Of differences between capital and
labor Lack of farm labor this year is
very noticeable. anu the high wages
paid do not seem to have relieved the
situation. the report says.
rTI e..