The Daily Ardmoreite. [volume] (Ardmore, Okla.) 1893-current, 1921-07-29
REPORT OF 18th
RESERVE DISTRICT
QUIET FINANCIALLY

'auietude In business and Industrial |
lines, good progress Of crops, favor.
able range conditions, and further
liqwdatien Of bank loans mark the
report Of the Eleventh District (Dal-
las)' Federal Reserve Bank for the
past month. The report, made public
today, said there was uncertainty,
however, as to whether farmers would
be able to probably dispose Of their
cotton this full. This uncertainty ap-
parently has played large part in
restricting the Wholesale movement
Of merchandise to the immediate needs
OF retailers and no broad movement
Is looked for BY trade authorities un-
I'll late fall or early winter, says the
report.
The report, summarized, says n
somewhat better feeling has been en-.
rendered in trade circles by the re-
cent improved demand for spot cotton.
Generally speaking, the condition OF
Texas cotton is from about the ay
erage to very good. except in East
Texas and the territory lying In the
path OF the June tropical storm. The
season so far has been too wet for
the plants good progress, but better
condition Is anticipated IN the usu'
ally dry clear weather In tho latter
part Of July and August. Govern
,ment estimates indicate decrease Of
% per cent in cotton acreage and IS
per cent in the probable size Of the
crop, as compared with 1920, With
the present condition placed at 72
per cent Of normal crop Of about
2,66G,00o bales this year Is expected, |
100000 bales.
Activities Of the boil weevl. whose
prevalence is reported in number
OF central and northern counties have
not materially increased during the
past thirty days, but the pest ia
reported to have appeared in the
southern tier Of counties in Oklahoma.
In the wheat belt successful har.
vesting and unusually prompt move
inent Of large grain crops IS record
ed. Both wheat and oats show an ap-
preciable Improvement, while the
states corn crop Is the largest ever
known-estimated at ls4,27O,oOO BUSH
els.
4 feature Of the agricultural situa-
ton In the Gulf coast region is the
heavy reduction in rice acreage, about
sc per cent OF las; years acreage be-
ing under cultivation. This is due
primarily to unpruAtahie results from
the previous crop,
East Texas has been fairly success
ful with its fruit and truck crops, |
1900 carloads Of tomatoes having
been shipped The marketing of
peaches practically is completed and
the yield was satisfactory.
The districts credit needs have i'm
posed a slightly heavier demand up
on banking institutions and no fur
ther easing Of the money situation |
IS looked for before fab. crops begin |
moving. Outstanding loans to fed
eral reserve bank members, after
showing y reduction from October TO
May, showed a slight increase for
June June bank clearings, building |
permits and oil production were about
on a par with May, while CONNER
!. c,ai failures in June showed a sharp |
increase both in number and Eabili- |
tea Building activity showed a
gain Of 50 per cent over the month |
Of June, 1920.
Southern Arizona seems, as in the
last few months, the only section Of
fyhc district where livestock ranges
are poof. DTouth in that state, al
though partly broken By local show
.rs in early July, has further de- |
pleled stock water and continued the |
deterioration Of ranges and livestock.
Elsewhere the districts range coni-
lions particularly Eastern New Mex |
Sea and the Texas Panhandle, show !
improvement during the past thirty |
days Rains in West Texas and the
Pecoe Valley during June improved
the conditions II. that section.
Good progress Is reported IN tick
eradication in Teras. almost two mil
Lon cattle having been dipped in lo9 !
counties. Fffty.four Texas counties
havo beea released from federal guar
antine.
Shcafing has progressed under IA
vorabie weather conditions.
Recent market quotations on cattle. /
z,lyes and sheep have offered ship 1
pcrs little incentive 70 enter the
market and as result the livestock; /
market during June was light AZ
Fort worth the June receipts. OF cat
so amounted 20 4S.5ls head. the
lovrst figures since June 1909.
June statistics show that lumber
uills did not maintain the May pace
N business and tha; for the lrst
timo since January the mills produced
more lumber than they shipped.
Notwithstanding a 25 cent per bar
re! rcdue;ion in price oil wells OF the
dls.rict maintained daily average
Iiew OF 1000 barrels during June
Total June production. il,4o5,l5S bar
rsls. aowever. was l&5,0O0 barrels be-
low the May figures. This was due in
part TO June being the shorter month.
The wholesale trade demand showed
little change from May. while In re-
tail trade ne, sales indicated de-
cline OF approximately 81 per cent.
s,ocks In s,orss also showed de-
cline.
Federal reserve bank loans to mem.
bers In June totailed s7i.72i. .5s42O,
an increase OF s2.oi4.2si.ie over the
total outstanding on May 81. There
was no pereeptible activity in the
districts acceptance market. Mem.
bst banks reports showed 3 per
cent reduction In loans and >s per
cent loss In deposits for the five'
week period ending June %.
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