Arizona republican., 1920-06-25
COTTON CROP |S. ONLY 8O PER GENT
 NORMAL IN STATE
Weather Conditions Set It Back Two to Three Weeks Says May Report Issued
 By Twelfth Reserve Bank


 The cotton crop in Arizona and the Imperial valley in California is from two to three weeks late and condition 1s only so per cent normal, as compared with 90 per cent in 1919, according to a statement of general business and agricultural conditions in the Twelfth federal reserve district issued by the federal reserve bank of San Francisco and made public this morning.
 Practically none of this years cotton crop in Arizona and the Imperial val ley is as yet under contract, the report continues, although a few buyers are guaranteeing a minimum price of 60 cents per pound for the coming crop.
 Condition of crops in this district is practically unchanged compared with a month ago. Cold weather, frosts and deficient precipitation during May have prevented improvement, the planting and growth of crops being re- tarded from three to four weeks.
 The winter wheat crop of this dis trict is now estimated at 51,164, 900 bushels, as compared with 61,051, ,00o bushels a year ago. If weather condi tions are favorable during the re- mainder of the growing season the in- crease in the spring wheat crop will, however, compensate for approximate iy half of this deficiency, predictions Indicating that this crop will amount to 50,277,000 bushels as compared with
 
 decrease in all wheat grown in the dis trict being 5,085,000 bushels. The es- timated production of winter wheat in Arizona for 1920 is 100000 bushels.
 Production of oats in this district will amount to approximately 44.00O, GOO bushels, increases in estimated crops in Idaho, Utah and Washington failing to offset the decreases in Cali fornia and Oregon by approximately 100000 bushels.
 Range Conditions Good
 The condition of California de- ciduous fruits is somewhat less favor able than that of month ago. With the exception of peaches and grapes, most fruit crops will fall short Of the record crop of 1919 by from 25 to 30 per cent and will be slightly under the average for the preceding five years.
 Range conditions throughout the dis trict are better at this time than for several years. The movement of cat tie and sheep to ranges, however, has been slow, due to the late spring and lack of early grass. Tn Arizona it is reported that sales of yearling stock have been only from 15 to 20 per cent of normal and that yearling steers are priced at from s4 to SC less than a year ago.
 The wool clip in this district is averaging one-half pound lighter per fleece than in 1919. Before shearing began some buyers were offering to contract the better grades at from GO to 63 cents per pound and duirng May a few sales were made at from 50 to 55 cents for finer grades and 35 cents for coarser grades. Normally most of the clip would now be under contract. but this year buyers have not entered the market and practically none of the 1920 clip has been sold.
 Shortage of cars has resulted in con- gestion which is automatically curtali- ing lumber output in this district and night operations have ceased in all producing regions.
 Building was generally more active during May than during April. De- creases in building permits of 1000 and of s1.452.O00 were reported by Los Angeles and Portland, respectively, in May as compared with April. In other large cities of the district, however, permits issued in May materially OK ceeded those of the preceding month.
 Shortage of Gasoline
 Daily production of petroleum in California during May averaged PTS. 323 barrels, s compared with 214SSl barrels in April and 276,031 barrels in May. 1919. Shipments averaged 295, = loo barrels per day, thereby decreasing stored stocks by 52O.0S7 barrels. Fifty seven new wells with an initial daily production of s795 barrels. were opened and three wells were abandoned \ shortage Of gasoline is reported quite generally throughout the district.
 Sales of representative retail stores in this district averaged. by value 6.5 per cent greater during May than dur- ing April. and 32 per cent greater dur ing May. 1920, than during May, 1919 Approximatel D per cent of the in- crease over May, 1919. was due to in- creases in prices. Sales by represen- tative wholesale firms were approXi- mately 7.5 per cent greater by value during May than during April.
 Retail firms reported a slight weak ness in prices in some goods, but wholesale prices remained firm, with . slight tendency to increase, except ir the case of shoes.
 During May there were So failures ir this district, as compared with 1O4 during April and A during May, 1919.