Audubon Republican. [volume] (Audubon, Iowa) 1894-1925, 1920-11-04
BUSINESS GETTING BETTER.
Reports from All Sections of the
Country Indicate That Bus
mess Is Stable,

mess Is Stable.
Recovery from war and postwar
conditions is proceeding apace In
the United States" and the natural
forces in evidence which make for
sterilization carry assurance for the
future" the federal reserve board
at Washington. ID. c., declared Mon
day in its monthly review of bust
ness conditions.
Although the readjustment proc
,ess has been marked by uncertainty
and some suspension of activity, the
board described the economic and
business situation as a whole as one
showing much inherent strength
and ability to attain position OF
relative stability through an orderly
Transition" 1t argued that the nee
essary changed conditions in the
nominal conditions will be accom-
plished without disturbance unless
unforeseen factors entered into the
process.
price revisions in textile lines
and in other branches of wearing
apparel, as we'll as numerous staple
comm odities," said the board, have
been the outstanding elements in
the situation, Just as during the
preceding month.
Caution, due to belief that
price readjustment is not yet over,
has been a noteworthy factor, and
in some quarters has tended to slow
down the activity of retail trade, al
though more apparent in the whole
sale trade. Crop yields have, on the
whole, justified the expectation ex-
pressed at the opening of the
month. Banking reserves have held
their own during the month and
there has been steady improve
ment in the liquidity OF paper.
Labor is less fully employed.
Notwithstanding some sporadic cuts
in wages here and there, the gener-
al position is about as good as 1t
has been so far as actual payments
or rates Of wages are concerned"
While the retail trade reported a
moderate increase" in net sales as
compared with last fall, the usual
fall activity and buying was said to
be not in evidence. The board at
tributed some of this condition to
unreasonable weather.
Reports from almost all sections
indicate that the retailer had de-
termined to await further develop
ments before RENEWING his stocks
heavily. The outstanding orders
were reported to be small and the
general purchasing activity OF the
retail merchant was described as
Every conservative"
The manufacturer has felt the
withholding of orders by the retail
ers, and according to reports hasn't
been able to operate On full time in
many lines of trade because of a
lack of orders.
Cotton mills were mentioned spe-
officially as having been hard hit by
the slackening of retail orders,
while new business in the iron and
steel industries has actually de-
creased.
In the shoe and leather industry
the board found conditions similar
to those in the cotton and other tex
tiles. The leather interests are fac
ing imminent shutdown in many
places because of heavy decline In
buying, the reports showed.
Conditions in western reserve
districts as summarized by the re-
serve agents follow:
Chicago said the business situa-
ton is still confused by counter cur
rents of opinion, with buying some
what restricted and price readjust-
ments showing some problems.
st. Louis finds fundamental con-
ditions satisfactory, but in all lines
there is hesitancy in purchasing
goods for future requirements. I'm
certainty as to future prices Is the
chief obstacle in the way OF recov-
cry.
Minneapolis reports crops large.
with grain moving steadily to mar
ket and railroad efficiency improv-
ing. However, there have been de-
clines in copper and iron production,
in building permits and in lumber
output. Crop movement needs have
required large note issues.
Kansas City reports that price re-
cession and readjustments have
been steady, but without serious re-
arrangements. Wholesale trade
and consumption are proceeding
quietly and labor outlook is favor
able.
] Dallas reports abundant conf
dence in underlying conditions and
in the future of trade. Transporta-
ton is better and the labor out
look improved.
San Francisco said business con-
ditions indicate period OF transit
ton. Retail trade is stable, and
good crops have been grown, but In
the wool and cotton regions there is
dissatisfaction with prices, while
lumber is in less demand than here
tofore. Grain markets have been
slngpish and declining.