Amarillo daily news. [volume] (Amarillo, Tex.) 19??-current, 1920-01-10
FINANCIAL COND|T| 0NS OVER STATE
'CHECKERED.' FEDE RAJ BANK REPORTS

DALLAS Texas. Jan S-The
closing month OF 1919 found the
eleventh federal resertt district In a
peculiarly checkered situation. E"
som" sections setting new high rec
Ords in volume and profits on pro-
/ 'uris. while others suffered effects
/ 0t crop failures. according TO the
I December report OF the Dallas Fed
crgl Reserve Bank. made public to-
iay Money returns from Texas cot
/ on crop was the largest ever real
ised although the crop was pro-
/ hahlV IN" smallest Ia twenty-five
years.
Demand for money showed a slight
increase the report says. while there
Was decline In deposits. Continued
, heavy increase in sales. collections
and untitled orders was noted In the
retail clothing trade. with prices
steady. Staple groceries were In nor
mai demand. sales and cash receipts
10 the farm implement trade regist-
cred marked increase. and retail
dry goods remained about station
airy The wholesale trade generally
showed slight Increase IN business
with the future outlook favorable
Tn" most striking feature OF the
situation, The report says, is reports
from the western part Of the dis
tr,c'. particularly West Texas. where
t year Of copius and we'll distributed
rainfall has resulted ~ an amazing
record oi productivity and develop
mant I'm one western county alone
a $4,000 600 cotton crop. 81 .000.-
unU wheat crop and moro feedstuffs
than the farmers could gather. have
yielded an average crop income Of
more than $500 per capita and trans
formed many tenant farmers into
farm owners.
While figures cited from this
county cannot be- taken as a picture
of conditions In the district as
t hole. nor even representative of the
ituation in all parts OF West Texas,
ccotding 10 the report. the fact re-
Mains that that part OF the district
which for many years suffered
'routh sand crop failures, has the
isi year taken on novel role NJ
roductiyiiv resulting in q wave 81
roslerity that has carried itself tn
nj beyond the boundaries 81 the
'ieyen,h district"
As result Of the heavy liquida-
on o. Indebtedness throughout the
'isirict. the report continues. every
Ne of trade and finance now re-
lects the years peak position In
radC balances and for the first time
n many months the district finds
self not only with ample fuads Tor
Is own uses hut with a healthy sur
las. which II Is lending io other
districts.
The winter grain acreage. compar-
A with last years figures. has been
'educed 81 10 80 percent because Of
Xcessive rains throughout the grain
Oft. and tho condition. according 20
no re'ori Is generally unfayOrable.
Although cotton growers. due 20
'v"essive rainfall. sustained losses on
nth the void and grade of the sta
ne. the higher prices OF marketable
~otion. rs well as other farm pro-
iucts have placed the farmer In
1pch easter financial condition
IAN one year aro. says the report.
The Texas cotton cron for 1919. OF
which approximately 80 per cent has
hecn gathered. has been placed by
be department OF agriculture. al
zoo 600 bales but the report as
erts leading authorities In the state
'rtend this estimate Is too high.
'rdicaiions are larger cotton acre
&c viii be planted next year be-
'ause OF the small acreage given
,ver 10 cain this winter.
First severe cold weather of the
winter inflicted little. u any. dam
20 To cattle There Is an abundance
u grass and in Arizona and New
iexico Hariicularly. the range condi-
'ons arr reported the best IN many
ears Prices fer livestock continued
- show a gradual decline In all
h ans