The Barre daily times. (Barre, Vt.) 1897-1959, 1922-07-01
NEH ENGLAND HAS
GOOD BUSINESS
Taken on the Average, Although Con-
siderable Irregularity Is
Evident.

Boston, July H.. Business in New
England ID good, taken on the average
although considerable irregularity ii
still evident, says the monthly review
| issued by the federal reserve bank of
Boston yesterday.
The expectation that many lines
Of business will soon be q,iieter due To
the usual summer slackening, added To
the growing realization of the serious.
ness of the coal strike, il serving 20
check q material Improvement in the
situation at this time.
New England manufacturing aetiv-
itv has been increasing at nominal
rate for the past two months. all
though there has not been a CORE
spending increase in car loadings In fact.
during June. there was a slight decline
4 the number Of freight ears loaded in
this district, compared with May While
these two faetors--productio and ship
ments-seem to have opposite tend.
encies, the number Of checks drawn
tboth by individuals and corporationsl /.
which is ordinarily good index OF the
volume OF business, was larger in the
past month, than in May.
The volume Of goods distributed
through retail channels was good dur.
ing the first two weeks Of June. but
il has suffered decline since the mid
die Of the month because Of the incIeni.
eut weather. so that the total for the
month wll probably barely equal that
Of May.
Employment Offices report that tho
call for workers continues 10 grow. and
the number of people applying for Jobs
IL becoming less. This can be at least
partly accounted for by the seasonal
demand for artisans in the building
trades and work Of similar nature.
although il Is apparent that the call
for employees TO ill permanent posi-
tions is also better.
Evidences of an impending aoal
shortage 20 appear in reports received
from New England manufacturers stat
ing that the closing of some OF their |
is probable. unless relief is |
soon had. This condition is not vet |
general. TO be sure, but even il the |
strike is settled Immediately, it will he /
! matter Of weeks before the danger j.
entirely ayerted
Such a situation" says the review.
naturally makes for uncertainty as TO
he adequacy Of the supply in this dis-
rict, especially If railroad traffic Is
by heavy storms next win
er. While nothing is 10 be gained by
aking an alarmist attitude, it is
natter for serious consideration. and.
AIKEN together with the scarcity Of
oft coal for power purposes, tends 10
Insettle confidence"
Two different factors indicate that
aution should be used in forecasting a
urther Improvement in manufacturing
ctivity in this district In the first
lace. the textile industry is known 10 ,
e one Of the first to feel the effects Of ]
ither an oncoming depression or -e-
overy. Since late last year, II has in
lined to be reactionsry. Another eau
ionarv factor is the recent trend Of {
pcuritv prices. For over two months. J
here has been no Bal increase in the
verage of industrial stock prices. Sc
lrity prices are well enough known a.
barometer Of future conditions To ie- I
land that attention be focused on
heir recent trend.
''The credit situation in New Eng
md during June continued TO become =
Iore favorable 10 the borrower There
an abundance Of funds available and
Iterest rates on almost all classes Of
ans are lower now than at any time
nee this country entered the war in
'lT." :
The review adds that the recent b
'urse Of bond prices Is warning sign =
rat the time Is not far distant wh,n 7
le downward trend Of interest rates n
i'll either become less rapid or sease =
ltireIy. y