Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1920-03-25
SPENDING PROFUSE
IN MIDDLE WEST
Extravaganza Stimulates lnfla.
ton and IrreguIarity, Re-
serve Bank Says
BIG MARKET FOR LUMBER

Chicago, March 25.-The Federal
Reserve Bank says: "Extravagance in
the Middle West is unabatcd, stimulat-
ing imitation and creating irregularity.
Many luxury manufacturers ignore ris-
ing interest rates. Exceptional activity
in farm lands delayed final settlements
later than usual. These transactions
may exceed s., 900, 900, 900. Some cor
respondents regard land speculation as
dangerous, others as merely restricting
production. All regard seriously labor
scarcity and high feed prices. The
average increase In farm wages since
1914 is 20 per cent and the average de-
fciency Of farm labor Is 30 per cent.
Farm land activity has resulted in
about 800, 200, 900 additional invest
ment in Liberty Bonds"
One Local bank borrowed SD 5,WO,OOO
to $50 900 900 this week at the Federal
Reserve Bank and others obtained large
amounts. Commercial demand for
funds continues up grade. Income tax
pected 5000 900 900, but full payments
were much fewer than a year ago.
Ready Lumber Market for Year
The American Lumberman. after
careful survey of manufacturing, re-
tail, foreign and factory fields; con-
cludes that "there will be ready mar
ket for all the lumber possible to manu-. !.
facture in the next twelve months II
finds soft wood prices inclined to stiff.
fen. and predicts building activity will
be as great as labor supply and build =
ing materials will permit. The ex-
pected advance In freight rates. which
the railroads need. will appreciably
affect prices, as most lumber moves
long distances. Many lumbermen urge
builders to take immediate advantage
of present prices.
Local industries regard the danger OF
coal strike April / seriously, because
their storage is subnormal, in many
cases nil. Commonwealth Edison has
only twenty five days supply and by
products Coke less than one week s sup
ply.
Stuyvesant Peabody, son of Francis
s. Peabody and president of che Pea
body Coal Co.,. says: THE lndianapo =
lis court action, pulling against Presi
dent Wilson's advice to operators and
miners, threatens a shutdown Of the
mines, because the miners will not
work without new wage agreement.
Price Current correspondents esti
mate the average winter wheat growth
condition IS per cent or less aud the
average abandoned acreage 10 per cent
Soil condition is mostly satisfactory
almost entirely favorable in Illinois
Missouri, Iowa and Nebraska. but gen
orally too dry in Kansas and Oklahoma
while in parts of Ohio and Indiana 1t il
too wet.
Grain Car Status Improves
Many eastern cash grain handlers
are here investigating the car move
| nntlnnG Illinois Inua and
other nearby states report an enlargin,
supply of empties. and as the effect o
the eastern blizzard disappears man.
western cars are uncovered. New Norl
Central is sending 300 empty box car
into Indiana.
The governments investigation o
corn congestion and one Chicago news
papers sensation description of
mythical corner put the Board of Trad
on its mettlc. but housecleaning thu
far resulted only in one months sus
pension of two grain dealers. partners
for misrepresenting grades in transit.
Western passenger heads are here re
organizing the western, southwestern
and transcontinental passenger asso
Citations pretty much along eva
lines.
The Chicago local of Amalgamate
, Clothing Workers of America. wit
33 900 Of the 230,00 members, wi
send the largest delegation, excep
, New York's, to the biennial conven
tion in Boston May 10. B. Kuppen
heimer & Co. announce unusual plan
in connection with the new $500, 90
plant on an eleven acre site, just pur
chased here for the indoor and outdoo
entertainment and the physical devel
opment of employees.
Illinois Central's new terminal i'm
provements provide for immediate cleo
IRRIGATION. and the company has JUS
ordered thirty all steel suburban cars
costing $500 400