Indiana daily times. [volume] (Indianapolis [Ind.]) 1914-1922, 1921-09-16
PACIFIC COAST
TRADE SHOWING
IMPROVEMENT
European Harvest Failure
Brings Better Prices for
Barley Growers.
PEACH, FIG CROPS SOLD


Special to Indiana Daily Times
and Philadelphia Public Ledger.
SAN FRANCISCO, Sept 16.-The i'm
provement of business Is particularly
noticeable in the Pacific Coats States
This is the observation of Henry {.
3reck, who Is in charge of the Depart
nent of Statistics and Research of the
Federal Reserve Bank.
This Is an agricultural district, and
agricultural products are always fish
to feel depression and first to recover
The California peach and fig growers
announced today that last years crop
of both peaches and figs have been sold
Five grades OF peaches have been with
drawn.
During the last sixty days there has,
been a great increase in buying, not
/ only in this country, but in Europe. As
result, the association, which moves
more than so per cent Of the dried
peaches and figs grown in California,
has disposed of all it's carry over fruit
This years crop may be light. Tha
/ prune and apricot growers are in a
/ similar position as regards last years
prunes.
/ The California Associated Raigin
/ Company's 1920 holdover Of Thompson
seedIess raisins has been absorbed.
| About 1900 tons Of last years crop vera
sold recently to Great Britain.
BRISK CANNED
GOODS SALES.
Mr.. Breck points out that the move
ment OF canned goods has been SO brisk
lately that there have been two advances
In price. Barley, apples and other
food products are moving very much
| better. There is an improvement In
the building industry and the strike may
be settled Immediately.
The local Federal Reserve Bank re-
/ ports a continued increase in the gold
ratio. Rediscounts with the Federal
Reserve Bank have in some cases been
! cut in half since the last statement
/ Of condition on June 30. This means
that borrowers are paying up their
loans.
The failure Of European harvests has
| been a great help to California barley
| growers. This years crop of CALI
| fornia barley is estimated at more than
I 100000 tons. On April l the holdoyer
was slightly more than 100000 tons. AS
| present prices are between $50 and SO
IA ton, the farmers who wanted double
4 that price last season are selling ct a
/ loss. The cost Of prediction this year
will be materially less however. Nor
/ ndlly II Is ABOUT S1o q tOu
Port Costa is enjoying it; pre-war
| prosperity. During the war barley was
! shipped by rail to the G6lf ports Ship
/ pers are now able to take advantage of
/ the competitive water rates and two or
three steamships have been loading daily
/ for many weeks. Only a few, however.
| have taken full cargoes.
! The movement of old stocks is helping
/ the country banks. which enables the
/ farmers to hold their stocks through the
winter in hope of better prices. Hides
are moving at better prices and about
! three fourth sof the new wool has been
sold.
LOWER FREIGHT. -
RATES AID.
Reduced, freight rates have had an im-
portant effect upon the movement of crops.
and other products. The recent cut Of
al out Is per cent has opened up much
new territory to California. which had
been previously eliminated by the pro-
/ hibitive cost of shipment. The compe-
/ tition of the Panama Canal is chiefly re-
| sponsible for the reductions.
There will be a steady movement this
/ fall Of California eggs through the canal
| to New York and and 70 England. South
ern California fruit growers have also
contracted for large space.
! California rice growers have lost their
/ fight for a reduced rate The State
/ railroad commission decided that rates
/ cannot be reduced to meet the econon-
| zeal requirements of shippers.
r 1t was cortendej by the rice grow
/ ers that as prices were lower this year.
/ and their condition had changed from
/ one of profit to loss, they should be given
aid in the form of lower freight rates.
/ The belief that freight rates We're not
a material factor was substantisted by
evidence regarding shipments from the
\ South 1t was shown that Southern rice
/ growers compete in the Los Angels mar
/ ket with a rate Of S1.0S from Louisiana
and Texas The rate from the Sacra-
mento valley is IS cents.-Copyright 1921,
I by Public Ledger Co.