The evening herald. [volume] (Albuquerque, New Mexico) 1914-1922, 1920-12-03
SPREAD Of
PRICE REDUCTION
MOVE IS SHOWN
Federal Reserve Report
for This District Shows
Much Unemployment

DALLAS. Texas, Dec. IA luther
apread OF the price reduction move
mont. begun early In the fall, ~ re-
married. in the October business ana
Industrial review for the eleventh
federal reserve district, Issued by the
Federal Reserve bank nj Dallas. Price
reductions granted by the wholef.ict
on dry goods and wearing nppaicl
a IL pointed out, now are being pnssed
on 10 the public. resulting In n slim
ulation Of retail trade. \ furthcf
~shrinkare In wholesale trade now
ever, Is reported.
A marked increase In unemploy~
ment II reported, both skilled ana W
skilled labor being affected. Buliu-
ing enterprises launched during Octo-
her were larger In number but small
or In value than those of septomber.
hank ciearings were slightly la excess
OK those of September, but were re-
low the amount recorded In Oclope'
OF last year.
More Cotton Moving
A heavily Increased movement OF
cotton IL reflected by the statiHtlcH
OF exports through tho port OF calves
ton for October as compared with the
previous month. Both receipts ana
e%xports for October were more than
twice AS large as those for. the month
~ septcmbcr. By comparison with
the corresponding month OF lgls,
last months receipts, exports anu
stock at Galveston showed supsutn-
tiai increases. while the total mum.
ber of bales passing through the port
during the present season eNcecuH ny
forty percent the total FOR last seaouh.
Rains. which fell during Ii latter
mart of October, interfered with inc
harvesting Of cotton and other ma
tured crops. but We're beneiiclhl
paspires. fan gardens, truck ana
.;ntor grains according to the report.
As "A result Of these rains II " salu
movqmont Of the cotton crop VIII ne
delaved Ercntly. Aside RON lhlH
damage the condition of the cotton
crop has not changed materially since
the September report ana q hnse
yiold N assured except In the ntcnS
OF greatest insect damnge' suutn
Texas il completing the harvestlns
Of what Is said to be h largest cot
ton rrop on record m tnat sectloh,
A larger acreage OF winter Wleat
~ being sown than was sown n1st
faIi. reports from over inc olstIiCt
indicnte. Among reasons Assigned Tor
tho inctenne Is the fact that weather
conditiona have been more f~HYoranle
FOR IAN blowing and also h iact
that the trend Of the cotton market
has tended to Increase crop dlNcrHill-
cation. on. account Of the excessive
rains N .he fall OF last year, the Wv
winter wheat acreage was greatly re-
duced. the crop being one OF n
smallest produced In many years
A noticeable ~shrinkage in the vol
ume Of grain receipts At the primer
nal grain ccnters OF the district during
the month OF October as compared
with the figures for the month OF
September Is noted In the report
Range Conditions Good
nange conditions In. Arizona, New
Mexico. the Panhandle ana South-
west Texas improved during octoDer
MS the result Of beneficial rains, the
report said. and the conc;tion OF E
stock everywhere II reported TO nc
good Low night temperatures In the
Western and northwestern portions or
the district and the drying out OF
ranges by high winds In scattereu
localities In New Mexico were the oniy
e%xceptions to the generally favorable
trend OF range reports for the month.
There was a sharp falling off in the
shiDment of livestock to markets or
this district during October. Receipts
at the Fort Worth yards showed a
heavy decline MS compared with
October receipts OF other years
cd to feature the trading at livestock
marketm. For the fourth month IN
succession the top price Of beef steers
nj the Fort Worth market recorded
a decline. having rcCcded from SlS'oV
In June to $40 In October
OIL wells In the district produced
12.gSO,1gT barrels OF oil during Octo-
her. exceeding the September output
bv T9O,gaT barrels. This Yield exc
only G3,gSg barrels OF equalltng the
districra. record brealting production
for the month OF August 1920.
Lumber Sales stump
A marked Improvement in drilling
results was also n notable feature or
October's developments In the dis
trict'a oil industry. As compared with
September results there was an IN
crease In the number of completed
wells. in the number Of producers,
In tho combined initial flow OF new
wells and an Improvement In the ratio
Of producers to failures.
A falling off In lumber milling ac-
tivities during a four-week period
ending october 20, Al compared with
the previous month, Is reflected In
the operation statiHtics Of the eleventh
district zine mills reporting to the
Southern Pine association. Untitled
orders on the books OF the reporting
mills on October 20, amounted TO 49,
iOt,G52 feet. which is equivalent 10
slightly more than two weeks normal
production.
During the month OF october there
was a decrease OF ~ percent In the
volume OF loans made by h Federal
Reserve hank Of Dallas to It's mem
her banks. Eleventh district paper
held by other federal reserve banks,
which nmouuted 70 a3R.O36.a5 at