The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1920-03-27
Federal Reserve Bulletin Takes
Optimistic View of Things.
BUT MANY PROVISOS INCLUDED
More Building, Stable Cost of
Materials and Transport.
Practically All Lines Running
ShOrt-Must Speed Production.

Kansas City. Mo. March 27.-The
carly arrival of spring will act as
wrench in the machinery of the high
cost OF living, according to the
monthly bulletin of the Federal Re
serve bank of the tenth federal re-
serve district Off-setting, to a mark
cd degree. the serious shortage of
farm labor. it Will permit farmers to
prepare an appreciable larger acre
age than they otherwise could have
prepared and will correspondingly in
crease farm production.
The tone of the bulletin is optimis
tic. altho inter-larded with provisory
clauses. without discounting the
need for larger production from farm.
stock range mine. oil field and fac
tory stress is placed on the great need
for a big construction year
Reports to the bulletin point out
that every community faces serious
housing shortage, not only for domes-
tic uses. but for housing commerce
and industry that must expand if ad-
verse conditions of under production
ire to be overcome.
To this end, it cites three essentials;
Necessity for greater readiness in
financing building projects; stabiliza
tion Of building material prices and
Of building labor wages; increased
supplies Of materials. together with
greater facility for distribution.
Consumers Not Timid.
No timidity is noted in the survey,
ON the part of the consumer, to buy
immediate necessities but buying is in
small lots and for immediate use only.
Manufacturers are not meeting the
clothing demands. which cancels hope
for a decline in prices. Shoe dealers
report brisk movement, but marked
demand for moderate priced goods
vhich is not available, and manufac-
. 40 No con-
cessions.
Furniture dealers. the review de-
clares are having trouble obtaining
goods to supply the demand, which is
for a notably higher grade of goods
than ever before.
Speculative buying in groceries also
has disappeared in the district, ac--
cording to the Bulletins reports, and
prices are found to be slightly easier
on foodstuffs, breads and meats.
Hardware prices rule high, with
brisk demand, due to the open build
ing season.
Dealers in moderate priced automo-
bjles cannot obtain cars 20 supply
heir trade. which also is true of ac-
ccssories.
crops Have Not suffered.
Reports from state agricultural
minimize the damage to |
crops from recent high winds. De-
creased wheat acreage IS noted WIN
a corresponding increase in the acre
ace planted TO corn and oats
The decidedly negative note in the
REV lew was due to the embargo in the
ea { on flour. which slowed down the
milling industry for the first quarter
of the year Declines in all grades of
flour were noted.
Early mild weather brought re-
Spouse from pasture lands, with the
result that the livestock condition is
excellent. the report says. Except on
the western slope of the mountains,
no heavy feeding has been necessary,
n nd the livestock producers have suf-
fered little loss from exposure.
Oil refiners large and small. are en-
gagged in a scramble to obtain supplies,
= nd this situation. according to The
Bulletin. is reflected in increased
prices. Great optimism is recorded it
says in the enactment of the oil leas-
ing bill. which already is being mani
Tested in preparations for wide activ
ity in areas of favorable possibilities
the lack Of such a measure.
In the lead and zinc areas of the
district emphasized activity is OBJ
served. which is reduced to figures
showing a decidedly more stable con-
ditlou.
inclination on the part OF both en-
ployer and employe in the district to
reach smicable wage agreements is
pointed out Few strikes and prompt
realization of many OF the possibilities
Offered by the reconstruction period.
Waco. TeN.-After being relieved II more
thnu 929.4tJ.600 ticks !. II. Young was
watching the mail today for his watch.
stolen To 1911, just recovered by a Dallas