Evening star., 1921-05-03

ness can continue Its WORK OF eet-
ting back to a pre-war basis.
There were few labor disputes as
the new contracts were put into ef-
feet. but it is believed that agree
mentS will be reached In each case
by the end of the work. One OF the
big surprises of the week was an an
neuncemsnt by the bricklayerS, ana
masons' union that they would accept
10 per cent reduction in wages Other
unions accepted similar cuts.
The beginning of the new month
finds business slowly improving. Cur
tis L. Mosher. assistant federal re-
serve agent for the northwest district.
says this section of the country Is en-
tering into new period of pros
perity.
Coming Out All Right.
There Is no reason to feel uneasy
during the progress OF reao)us'ment'
for we are coming out all right, Mr..
Mosher says. THE war merely re-
yealed our weak spots and TINS reVe-
latiop has spurred the American ousi-
ness man TO build on a stronger iouhoa
ton"
Bankers scanning the figures com
piled today from the national oahh
call statements, see 1uTther s; IIu
ment toward sound banking coma,
tions in the northwest. Deposits zen
in the Twin cities. but this was eA
pected az a result OF spring uehia ai'us
The figures from the bank call IN
dictate a healthier banking CONDITION
than we have had for several months.
A. a. McRae. vice president OF 'he
Northwestern National Bank. says
Bank Trend to Normal.
'"The fact that banks show deposlt
totals more nearly equal to those OF
their loans and discounts Is an IN
dication of the trend to normal pank
ing conditions. The general 1all II,
=
demand for loans also is plainly re-
fected In the decreased deposits and
loans Deposits inevitably fall with
loans. because a large percentage OF
loans go on the books as deposits un-
| til the money has been checked out
The monthly summary of the ninth
district federal reserve bank, just IS
sued. finds crop conditions or tnt
northwest good. an increase in genera
business. and % per cent more build
! ing projects.
SCRANTON. Pa, May 3.-Retail Goa
merchants will advance prices or
anthracite 25 cents ton May .. al
! though prices at the mine have beer
| increased only. 10 and Is cents. Re
tailers declare that when the pro
ducers decreased prices so cents a tor
. April /. they lowered prices more thar
| ing. Consumers have held back, how
ever, and now will be compelled tt
pay higher prices when the coal bin!
need replenishment. The new price!
| at the mines are: egg. s1.35; chestnut
S7.65: pea, Sc, and stove. S7.70. Th'
greater advance on stove size is ex
planned by the statement that thi:
particular size is in greater demand
| PHILADELPHIA. May "a notable
reduction in the cost Of living is an
| nounced today with cents buying th'
same loaf of bread formerly sold fol
Is cents. Flour has been down fol
| some time and much pressure ha
! been brought to bear upon the baker:
to pass along the reduction on thi!
important foodstuff. Fluctuations IL
the flour market have offered an ex
cuSe for hesitation. however. but a
! last the bakers appear to have ac
| cumulated sufficient stock at low
! prices to warrant the cheaper loaf.
PROVIDENCE, r. L., May 3.-Th'
sane view that while prosperity i:
not so great as a year ago. bushes:
is on a much safer basis is taken from
| the May circular of the Merchants
| National Bank of Providence, which
| says: THE price level today is much
| safer than a year ago. This is con.
| sideration of prime importance and
| shows that the people are doing the
| things needed to re-establish trade
| upon safe basis and to make I,
! healthy and strong. The great factor
| to remember is that basic commodi.
| ties are 45k per cent down. Reduc-
| ed business by the mail order houses
reflects the decreased purchasing pow.
! ing of the farming communities. but
| chain stores in the large cities are
| showing gains over last year."
! PITTSBURGH, May 3.-Department
store business, a barometer of retail
| trade, is on remarkable scale in
| Pittsburgh The department stores
established record for the fourth
! federal reserve district in March. with
an increase of 7.6 per cent over March
! of 1920, regardless Of the lower prices
| prevailing. For the first quarter OF
| the year the local stores reported ar
| increase of ia per cent. Merchants
are making special efforts to stimu-
| late buying. Their newspaper ad.
| vertising is on an extensive scale
| One large store. announcing a special
| sale. used four pages in all of the
| Sunday newspapers.
| PHILADELPHIA, May 3-The larg.
| est and most comprehensive exhibi
| tion in the history of the National AS.
sociation of Hosiery and Underwear
Manufacturers has just been opened
| in this city. More than 200 booths are
| occupied by exhibits of knit goods
knitting machinery. yarns: dyes
| chemicals, mill supplies and acces
sories Business sessions of the con.
L