Albuquerque morning journal. [volume] (Albuquerque, N.M.) 1903-1926, 1921-05-30
Conditions N
TENTH RESERVE
ZONE IMP PROVED
Strengthenin 9, Though
Slight in Some Instances,
Is Noted in Practically All
Basis Industries.
(By The Associated Prcss.)

Kansas City, Mo-, May "a
materially strengthened financial
condition and Improvement in
practically all basis industries was
reported today in the May review
of the Federal Reserve bank 6f
Kansas City, covering conditions in
the Tenth reserve district.
THE steady reduction of loans
and discounts by the federal re-
serve hank 10y member banks which
started q year ago continue" SAID
the review, with the result that
business in this district is now
proceeding on less borrowed capt.
tai"
Combined statements of eighty
two selected banks widely scatter
ed over the district showed total
loans, discounts and investments
of $52S,502,000 at the close of
business May 4, compared with q
combined total of $546,369, O00 for
these banks on April s. 1921.
The total of demand deposits on
Maya was $5,995,000 less than re-
corded in the report for April,
Time deposits gained steadily in the
four weeks, showing an increase of
$3,952,000.
The ratio of total reserves, to
net deposits and net liabilities com
bincd on May is, as shown in the
statement Of the condition of the
district reserve bank, was sos per
cent, which compared with ratio
of 48.G on April Is Al per cent as
of May IA, 1920
The reserve bank reported hank
clearings Of all cities in the district
from January to May ! aggre-
gated $5,240, 395.70S, or 321 per
cent less than the total for the first
four months Of 1920.
The review gave the following
synopsis of conditions in the dis
trict covering the last month:
Further strengthening of tha
position of the federal reserve bank
and member banks and continued
reduction of loans.
Improvement, though slight in
some instances, in practically all
basic industries.
Volume of mercantile trade in
excess Of sales of 1919, 1918, 1917,
and prices becoming more stabil-
lied.
Growth of crops and farm opera
tons retarded by prolonged cool
weather. Deterioration of wheat
resulting from winter freeze, low
temperatures and heavy rains, but
reports show May 1
4.3 per cent above May
l condition last year.
Wheat receipts at markets 1876
per cent above receipts a year ago.
and considerable foreign buying.
Improved activity in flour mill
ing.
Supply of cattle and hogs at
markets slightly less and sheep 10
per cent more than one year ago.
Meat packing improved by resump-
ton of foreign buying and broad
ening of market abroad. Large
buying of hides indication i'm
provement in the shoe industry.
Crude oil production increased
in spite of efforts to curtaiI the
output by holdiGg down develop
ment operations.
Slightly increased activity in
zinc and lead mining; increased ,,
ore prices. ri
CurtAiled production at Colo
RADIO metal mines, causing a slow
ing down of operations at smelt- |
ers, but more activity in mines
where gold and silver predominate
Improvement in coal mining |
operations checked by lack of
market demands.
Sugar beet acreage contracted |
"a per cent less than last year.
Increased activity in building.
Permits 20 per cent larger but es-
imated cost of construction 80 per |
cent below the corresponding |
month last year.