The Hartford republican. (Hartford, Ky.) 18??-1926, 1920-07-09
UNSETTLED CONDITIONS
WILL CHANGE SOON


ditions Of the country.
"There Is, however, every indica-
ton that this transition period will
not last long-indeed, that the turn
toward new conditions has already
been taken" declared the boards
summary of reports of its agents, who
taking the country as a whole, found
considerable variation in business
conditions.
Reduction in retail prices, begun
June, 1t was said in explanation of the
continued large volume of retail
trade. The price-cutting movement,
the board said, had been aided by the
refusal of the public to pay high
prices, although the tendency of
Wholesale prices to maintain current
levels was declared to have been II
counteractlng influence. Except for
clothing and shoes, all essential COM
modities. including foodstuffs, show
little indication of reduction, but lux
uries and non-essentials in many lines
have been distinctly cut"
Quite generally there is a tendency
TO settle down to readjustment
basis and to proceed with business
upon a new level of prices and de-
mand," the board asserted. Con
troll of credit discrimination between
nonessential and speculative bor-
rowing are producing some results,
although these are reported as de-
veloping themselves slowly and grad
ually. The present price situation
is unsettled, and is being closely
watched. While some price report
ing agencies show reduction, others
show increases"
Although some improvement in
transportation was noted, the rail-
roads were said not to have yet ov-
ercome the breakdown and great
congestion of goods" was reported to
still exist Frequent complaints of
car shortage we're reflected by the
agents reports, some indicating a
menacing shortage of coal, which,
unless remedied, will seriously in /
terfere with manufacturing" The
reports on manufacturing for the |
month, however, ranged from ex-
IRENE optimism to equally extreme |
pessimism.
Possibly the most encouraging fac /
tor OF the month was the improve |
ment OF agricultural prospects, all /
crops except cotton showing improve /
ment with the seasonable weather, /
good distribution of rainfall and re- /
planting of crops
Distinct improvement in the mon ]
ey situation was noted during the
month, although It was said that con-
ditions In the financial centers show
ed little change. Control of credit,
II was said, was assisted materially
by the advanced interest rate on
treasury certificates of Indebtedness
and the higher rates of discount at
federal reserve banks.
Industrial operations during the
month of May and the early part of
June continued to suffer from uncer-
tainty on account of the labor situa-
ton, according to the board. Little
relief has been obtained in connec-
tion with the labor situation on the
farms, the board said, while unrest
in some OF the basic industries, nota-
bly, transportation, has been main
tanned.
Sporadic strikes, in many parts of
the country. particularly on the east
ern seaboard, have been as a serious
deterrent to the movement of goods
and the continuance of manufacture
ing. the board asserted. Employers
are generally feeling that further ad-
vanees in wages present great diff
Guilty on account Of the resistance OF
the public to further increase in price
the report said.
The worst condition respecting
crops was said to relate to cotton, 1t
from the Atlanta district
reports that the poor conditions al
ready reported by the government
have been but little improved and
that the acreage will be small, with
the yield low.
The Atlanta reports, referring to
general conditions, said that there
was a tendency on the part OF the
public to refuse to pay exorbitant
prices, and that the volume of retail
trade had decreased after being slim
ulated by price cuts.
"There Is. on the whole" said the
Atlanta report. mo uneasiness con-
cerhing the future of business and in
dustry. It is becoming more and
more apparent, however, that the
process of deflation has begun"
The Richmond district reported
''the breakdown of the traffic system
and the wave Of price cutting in re-