The Little River news. (Ashdown, Little River County, Ark.) 1897-current, 1920-11-03
IS
PROCEEDING ApAcE
u. s. Recovering From Wartime Con-
dfti0ns, Reserve Board Says; In
dustry Still is Slack.

washington, Oct. 31.-Recovery from
war and prewar conditions is pro
ceeding apace in the United States"
and the national forces are in evi-
dence which make the stabilization
carry assurance for the future" the
Federal Reserve Board said today in
its monthly review Of business con-
ditions,
Although the readjustment process
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 an abil-
ity to attain position of relative
stability through an orderly transi-
tion." It argued that the necessary
changes in the direction of normal
conditions will be accomplished with
out great disturbances unless unfor-
seen factors enter into the process.
Price revision in textile lines and
i'll other branches of wearing apparel,
as well as in numerous staple COM
modities,' said the board, s'have
been the outstanding elements in the
situation just as during the proceed
ing month.
Buyers Are Cautious
Caution in buying, due to be-
lief that price readjustment is not
yet complete, has been a noteworthy
factor and in some quarters has
tended to slow down the activity Of
retail trade, although more apparent
in the wholesale trade, Crop yields
have on the whole justified the ax-
pectation expressed at the opening of
the month. Banking reserves have
held their own during the month, and
there has been steady improvement
in the liquidity of paper.
Labor is less fully employed. Not
withstanding some sporadic cuts in
wages is about as good as it has been
So far as actual payments or rates of
wages are concerned"
r While the retail trade reported a
moderate increase" in net sales as
compared with last fall the usual fall
activity in buying is said not to be
in evidence. The board attributed
some of this condition to unseason-
able weather. Reports from almost.
all sections indicate that the retailer
is determined to await further devel-
opments before renewing his stocks
heavily. Outstanding orders are re-
ported small, and the general pur-
chasing activity of the retail mer-
chant is described as very conserva-
tive"
Manufacturing Slumps.
The manufacturer has felt the with
holding Of orders by retailers, and,
according to reports, has not been
able to operate on full time in many
lines of trade because OF lack of or
ders. Cotton mills are mentioned spe-
cifically as having been hard hit by
the slackening of retail orders, while
new business in the iron and steel
industry has actually decreased.
In the shoe and leather industry the
board found conditions similar to
those in the cotton trade and other tex
tiles, The leather interests are facing
imminent shutdown in many places
because of a heavy decline in buying.
Conditions in the reserve districts as
summarized by the reserv. agents in
clude:
"Richmond- States that the price
recession movement has br0adened,
and there has been some hesitation in
business.
n Atlanta Reports active retail
trade, but less favorable crop out
look for certain products. Coal and
iron are somewhat harassed by strike
conditions.
"St. Louis-Mnds fundamental con-
ditions satisfactory, but in all lines
there is hesitancy in purchasing goods
for future requirements. Uncertainty
as to future prices is the chief obstacle
in the way of recovery.
Kansas City-Reports that price re-
cessions and readjustments have been
steady, but without serious disarrange-
ments, wwhile retail trade and con-
sumption are proceeding quietly and
the labor outlook is favorable.
as.Dallas--R Reports abundant confid-
ence in underlying conditions, and in
the future Of trade. Trans portation Is
better, and the labor outlook is inn
proved
COTTON MARKET.
Short cotton was sold Tuesday for
from 20 to % cents. Very little was
1~..... ,.<ta h.vycx,rw NJ Nr,xxy N<,,L