The daily banner. (Cambridge, Md.) 1897-2008, 1920-05-31
PRICES DROP BUT
PUBLIC SPENDS
Federal Reserve Board Sees
Lite Relief.
NO EFFORT TO ECONCM|zE
See Only a Slight Increase in Produc-
ton and No Disposition of rubfic
to Save.

: T. :
ton and No Disposition of fu6iie
to Save.
Washington, May 31.-Despite re
cent reductions in prices, little relief
from the general reign of high prices
is seen by the federal reserve 9oaro
in its analysis of May business 4JRdf
tions Ssss
The board expressed the vieJ lssl
there has been no change in sgz
deriving conditions responsible ff8
high cost of living.
Asserting that while ''StOre saie
and tendency 20 lower prices st3eafs
witness to the presence OF "dIsfuTb'
ing factors" which suggest the aayeat
of wide alteration in price levelss Eass
board declares it canno- accept the SIT
uati0n as whole for its face SMtue
The explanation is added that TherP
has been only slight increase i1fspin
duction and there is no greater dis
position on the par of the genera
public to econOmiZe and invest than
had ruled heretofore.
"The changes that have taken pla1.
therefore," the boards analysis SAYS
"cannot be looked upon as indieHt1Ifs
a modification Of underlying condi,
tiOnS. They may. however. affOrdk q
basis for changes in business relation
ships that may broaden into more far.
reaching alteration of the essential
price structure" sk
Business in every section of the
country has suffered considerably fran
the freight jam which has prevented
normal movement of products to mar
kets. Effects of the tieup are noticed
in the agricultural districts as mucl1
as the industrial areas, and that farm-
erS are not the smallest class which
has sought more bank help in the way
of credir as result.
Results of the boards action in the
direction of restricted loans ALREADY
has begun To be evident, according fo
reports of the various reserve banks
In addition 10 q general reduction n
the value as we'll as volume of securi
ties traded in the financial centers
there has been a general revision Di
interest rates affecting both CONNER
cial paper and call money, it is stated
The labor situation during IL the
month has been one of the outstanding
| elements of doubt and difficulty aIie
is one of the larger problems with
which the country is expected to haKs
TO deal with the rest of The Sumiser
| In addition TO Intense shoftage
Dor on farms and at other points o1
primary production, sporadic strikes
have occurred in many lines Of manu-
fac+uring, notably the textile industry
| indicating in the boards view cOntin
! ued unrest
''WageS apparently have fallen be
| hind the advances in prices and tht
| cost of living" the statement cOntin
| ues. The movement of labor from
| farm to city is continuing. Various
| demands for higher wages have beer
taken under adviSement for the pur
| pose of bringing about compromise
| adjustments. General complaint OF
low efficiency or small output per uni
| of labor is prevalent. and the difficulty
| of getting skilled labor in some Of
the more highly developed lines o.
manufacture is now very consider
| able"
The "dsturbing factors" have ma
terially affected many lines of manu-
featuring, although general manufac
/ turing continues in substantial vol
| ume. Cancellations of orders in bott
| cotton and wool. by the jObbing ant
| retail trade. have not yet reached
| large proportions. but they are "al
! ready noticeahle." This has resulted
| in some manufacturers being forced tt
! make concessions TO retailers" wht
| were described as being "Quite unset
| tied" The same situation was saif
| 20 obtain in the lt-arher.
PYTHON CRUSHES TRAINER
| Audience Cheers in Belief Girls DeatI
Cries Are Part Of Act.
Geneva. May 31.-Applause from 1
| large audience reSOunded in the LITTLE
| theatre at Serbruck, near here, whil'
| a gigantic python slowly crushed 1T
| trainer to death.
The trainer, a Hungarian girl whos'
name was Giro, realized her peril ant