Evening star. [volume] (Washington, D.C.) 1854-1972, 1920-09-01
N0TESAN ADVANCE
IN READJUSTMENTS
Federal Reserve Board, Re-
viewing Business Field, Is
! Inclined to Optimism.

Refusal of the public to pay Eek
cessive prices caused a continuation
of the downward trend of values II
August, the Federal Reserve Boarc
declared in it's monthly review OF
business conditions just issued Ihe
board added that the reaction
against high prices had been accom-
panied by a general slowing up of de-
mand in the wholesale field and by
slight evidences of unemployment III
some sections.
The boards views on the nations
business generally were more Opt
miStic than recent expressions and in
dictated an expectation of more sta
bility in industry and commerce
While the review mentioned signs OF
a conclusion of the transition period
it countered with the statement that
progress in that direction is slow
and much still remains to be done
before the country can be said to be
sertion was made, however. that the
readjustment had continued consist
emily.
Sees Promising Crop Prospects.
I'm the agricultural regions" the
review declared 1.-The promising crop
prospects have given much more
hopeful turn to affairs and have tend
ed to minimize the broader questions
of price adjustment. money rates and
industrial unrest. In those parts of
the country the paramount idea is
production on a large scale, accom-
panied by improvement of transpor-
tation and labor conditions.
Where the processes of distribut-
ing and financing are more important,
the prospect for improvement is less
immediate, although fundamen tal con-
cir
underlying business situation is
usually described as sound"
Transportation continued hampered
during August, the review said, add
ing that although shipments were
moving with increased celebrity, much
dissatisfaction still existed in all sec
tons. This condition was said to be
noticeable. particularly in the move
ment of agricultural products to
market
Richmond District Feature.
In the Richmond district, including
the District of Columbia, the out
standing feature Of the information
received by the reserve bank is OPP
timism and confidence in the basic
is nevertheless admittedly hard to
specify definite developments which
Justify this confidence. Manufacturers
are receiving Insufficient orders to
keep them running steadily in all
cases, but they are taking a more
hopeful view.
General manufacturing, the report
says. has varied widely in different
parts of the country during the
months both of July and August as
a result of sporadic depression and
suspension of work. coupled with diff
culties Of various kinds in connection
with the continuation of production.
There is still depre ssion in woolens
and cottons, knit goods and UNDER
wear. wearing apparel. shoes. leather
and various other articles Resumption
of activity Immediately after Labor day
and it is held that there is some in
dication that retailers stocks are be-
coming so reduced that active buying
must soon be resumed
In the Boston District.
The Boston district reports that
tannerieS in the district are still clos
ed or operating up to about so per
cent basis. While there has been
some resumption of shoe manufactur-
still either wholly closed down or op.
Grating on short time, and they have
curtailed their purchases of leather.
Prices for side feathers are OF 10
to Is per cent. but still 50 to 100
per cent higher than in ls13-1s14.
mond district reports that shoes are
moving from manufacturer to retailer
slowly, while buyers are holding OF
in the hope Of reductions. Leather has
weakened, but there is little prospect
of the saving reaching the consumer
for a good while owing to the length
of time required in the shoe produc-
ton.
As for wool and wooden goods, the
Boston district reports that the stu
alton in the wool industry is difficult
to diagnose the Boston market being
dull. although the supply, especially
of the finer grades, available for use
is not excessive if production should
become normal Wooden mills in New
England are either closed or running
on part time, with no intimation when
they will resume on full time. Re-
turned goods are stated to be INSULT
q emit to meet the public demand when
it revivea Briefly, therefore, the
wholesale situation is one of waiting
and caution. with hand-to-mouth buy
ing on the part Of the manufacturer"
Favorable Report ON Labor.
The labor situation is reported gen.
orally favorable. In the Boston dis
trict employment in the textile indus
tries is somewhat depressed, and the
same is true of the shoe factories Re-
turns from public employment offices
show that the number Of positions re-
ported filled suffered a loss of "a per
cent from June Of this year and "a
per cent from July of last year.
There is also noted, in spite of a cur