The Farmington times. (Farmington, St. Francois County, Mo.) 1905-1926, 1921-06-17
WHEAT HARVEST WILL IN.
AUGURATE BETTER BUSINESS


Washington, June 10.--No immedi-
ate return tc prosperity is in sight
and there need be no decisions about
the resumption Of wartime volume of
business, according to Archer Wall
Douglas, chairman of the Committee
on Statistics of the Chamber of Com
merce of the United States. in his
semi-annual report on business and
crop conditions made public today. He
added the opinion that while things
will be quiet during summer, the ter
mination of harvest may bring some
what better business and slow and
gradual improvement.
"There is growing realization Of
the fact" declares the report of Doug
las, shat returning prosperity in this
country depends upon the recovery of
Europe, since she is and will be for
long time to come the best market
for our surplus, for that surplus which
we have accumulated and still have on
hand in every phase of industry.
Meanwhile the slow progress of bust
ness finds it's chief stimulus in the
gradual depletion of stocks both of
that demand for replacement and re-
that demadn for replacement and re-
pair which in itself produces the prin-
cipal volume of our domestic COM
merce. There is still money to be
spent where bargain prices are in ev-
idence, showing that purchasing pow
er is still high despite many unto
ward conditions.
Cotton Acreage Reduced
"There is an almost unprecedented
reduction of the cotton acreage in the
South this year, with the plant still
struggling against much wet weather.
and late start. At the same time
wheat promises larger yield than
last year by from 30,000,OOO to 49,
100000 bushels. Corn is not yet all in,
but it is significant that the South ex-
poets to grow more corn this year
than last and much more feed for
live stock. The acreage in rice will be
less than the 1920 crop, because of the
large surplus carried over and with
scarcely any demand.
"The general condition of live stock
is most excellent, save in Southern
Arizona and Southern New Mexico,
where the ranges were burned up by
drouth. The low prices Of cattle, hogs
and sheep still make them unremun-
erative to the farmers, while wool is
in tremendous supply at exceedingly
low prices.
"Most of the early fruit was practi-
calIy destroyed by freezes in the
spring. Fortunately, there are still
some exceptions in scattered portions
of Michigan, Pennsylvania, Ohio, New
York, Connecticut, Washington, Idaho
and some of the South Atlantic
states. The citrus crop is generally
good, though damaged to some extent
by the wet weather in Florida. There !
will be a good crop of strawberries.
Dairy Industry Growing
"While the dairy industry is grow
ing throughout the country, the re-
duced prices of butter fat, milk and
other dairy products cause some farm
ers to think that the bottom is still :
dropping out of everything. Forum
ately, there is another side to the
live stock dairy interest in the promise
Of a great harvest of feed at low
prices, which may thus more nearly
equalize present prices with the re-
duced cost Of production. |
Tobacco growers look forward to q
better season than they experienced
last year because of the confident ex-
pectation of higher figures for their
product, growth of building, due to
the continued high costs of the whole
of construction. Until these costs are
reduced building will be only such as
comes from the impulse of necessity.
Lumber naturally sympathizes with
the inactivity of building, and despite
It's low price suffers from lack Of de-
mand.
Zone of the serious conditions, Sc
rious because there are immense pos
sibilities of its being much better, is
the slow
"There has been some increase in
the output of automobiles. notably in
certain localities. All the various
phases of leather production and man
ufacture seem to have struck bottom,
both in prices and in demand, and to
have had some moderate healthy re-
bound. The steel industry is running
on short time with limited output and
reduction of orders in hand. Rail-
road shops are very quiet. Textiles,