The Richmond palladium and sun-telegram. [volume] (Richmond, Ind.) 1907-1939, 1920-07-30
SLACKENiNG IN U, S,
BUSINESS feature
OF JULY ACTIVITIES

WASHINGTON, July S0.--Curtail-
ment Of Industrial activity due to low
er demand, cancellation Of ORDERS and
general readjustment were the out
standing Developments in the business
Of the country during July, the federal
reserve board declared in its monthly
review.
I'm some districts, however, produc-
ton continues upon old orders which
are still on the books, despite the
fact that new business has fallen off,
the review declared. "In the agri-
cultural regions improved crop con-
dttions and the development and the
development Of a more confident tone
in business are reported to have
brought about turn distinctly for the
better.
Speculation in commodities in
many parts Of the country is reported
to have been greatly reduced. in some
practically eliminated. There Is
general feeling that extravagant buy
ing is at least less extreme and dan
gerous than it was some time ago"
H. Rail Problem Unsettled.
The transportation problem contin-
ued unsoIved during the month, the
review reported, and while some local
improvements were noted there re-
NAMED great freight congestion. pro-
voking IAN undue and unnecessary
severe strain on credit"
The iron and steel industry as now
placed in a serious condition" &C
cording to the review.
Commenting on the labor situation,
the board declares that an increase
- ~
notable feature" of the month, this i'm
provemenI being attributed to the de-
velopment Of unemployment in various
parts of the country.
Coal Production Slow.
Coal production, the review assert.
ed. also Is hampered by car shortage.
while local labor troubles were said
to be causing an undercurrent of I'M
rest in some districts. The coal out
put in Pennsylvania, West Virginia
Indiana, Ohio and Illinois was esti
mated at one-half or less of normal.
Prospects of a winter and spring
wheat yield considerably above nor
NAL" were reported by the Minsseap-
ellis district, while the Pacific coast
reports forecast yield of 100000
more bushels of spring wheat than In
1919 The ST. Louis district, however,
said that the wheat there was low in
quantity but high in quality, while the
Kansas City district predicted big
yield. Other crops, including corn,
oats and cotton were reported as haV-
ing improved.
ri Live Stock Conditions O. x.
Livestock conditions were said by
the board to be exceptionally good the
country over, with prices generally
higher, except for sheep. The raw
wool market, however, continued It's
characteristic inactivity, which has
lasted several weeks.
In the wooden and worsted goods in
dustry the board found the yarn spin
ners receiving few inquiries for the1r
products, with conditions equally dis
couraged for finished textiles.
.Slackening in activity in cotton
goods also was reported. Many mills
declared their cotton supplies were
sufficient to last until next year, and
the boards review said the chances
seemed to favor a further reduction
of activity in the industry.
Leather Trade Off.
Little improvement in the leather
and shoe trade was noted during the
month. with New England manufaC-
turerS 1uTlnef CuIldlllAS opoA o'ioiA''
The manufacturers however, were
said to anticipate a brisk autumn
business due to belated orders.
The board reported improved finan-
cial conditions, asserting that the New
York district had noted that the big
expansion Of loans and discounts had
been wholly checked" with other
districts declaring this condition had
haan "largely checked"