The Brattleboro daily reformer. (Brattleboro, Vt.) 1913-1955, 1921-02-02
BOTTOM REACHED
IN MANY LINES
Prices Likely to Show Some
Increases i'm the Near
Future
SLIGHT TURN
TOWARD BETTER
Federal Reserve Boards Business Re
view Sees Reason for Optimism Over
the Way Industry i'm General Is Re
covering from slump.
BY DAVID LAWRENCE.

BY DAVID LAWRENCE.
Especial Despatch to The Reformcr.l
Copyright 1921.
WASHINGTON, Feb. Robustness
developments during the month of Jan.
uary have shown a slight but unmistak-
able turn toward a better state of af-
fairs This i the first sentence in a
lengthy review of general business and
financial conditions throughout the
United States issued by the federal re-
serve board after a careful study of re
ports from every banking district in the
country.
Prices in many lines have gone no
lower than the level which had been es-
tablished at the close of 1920
the federal reserve board as it remarks
that banking conditions have material
~ improved and that failures have
been relatively fewer
Optimism of a conservative kind that
does not attempt to ignore the fact runs
through the entire statement. While
the federal reserve board points t. the
figures of unemployment and SAYS that
the resumption of Industrial operations
has not increased to any appreciable de-
gree the number of men employed, one
can read between the lines that business
generally has been sitting labor carefully
and taking back employees who were eff
clent and whose wage scales were not
| prohIbltlve. In deed. the federal reserve
! boards statement would seem to Indicate
that unemployment figures do not accIr.
| atcly reflect the true state of the nations
] business, but merely confirm the fact oh
; n huge turnover and reimbursement pre-.
paratory TO u revival of industry on q
Sounder and more substantial basis than
ever before.
There are signs of a distinct improve.
mcnt IN certain textile trades" SAYS the
boards review. while retailers are now
beginning to buy much more freely ant
actively than heretofore due To the lie
plcti0n of stocks ON their shelves. Trans
portatlon supply has been fairly clual
lied with demand and there iS now littI,
or no delay of goods going from producer
to consumer. Farm products although
huctuating more or less widely. have
maintained themselves at prices sub
Stantlally equivalent to those cStabliShe,
during December. There has been littl,
or no gain in export trade conditions. bu
preparations for the placing of expor
financing upon n more satisfactory basi
was believed to lay the foundation for ;
distinct improvement of the outlook.
Retail prices have shown during tn
month of January u much greater ten
dency to reflect the changes that had al
ready occurred in wholesale prices
While, therefore. it cannot be said tina
very material alteration of Fundamental
conditions has occurred, enough progress
has been made to give assurance of
steady movement toward soundcr condi
tiOnS in business. There is a wide de
mand for American goods. the dificultie
connected with marketing being foun,
in the question of prices and of terms I
be required of purchasers"
The federal reserve board statemen
supports its general observations wit
a detailed analysis of agriculture and in
d~uStrial operations. While here an
there in the South are evidences of hold
. ing of cotton. for instance, receipts a