East Oregonian : E.O. (Pendleton, OR) 1888-current, 1922-07-28
ON THE UP GRADE

SUMMARY of business agricultural conditions in the
twelfth district released for publication yester-
day. contains much of hopeful character that the
report is here given in full:
indications of increasing business activity in this district
winch first appeared during April and May have multiplied
during June Prices Of the principal products of the district
aye eIner renamed r OF advanced slightly refectng sim
liar tendencies in national The United States
daDors wholesale price index which increased IL per cent
~ per cent above the low point of January Charges
individual accounts of deposor banks of the twenty prn
l92 Sales of thiwo department
1922 June 1921 being AS average retail prices
Of merchandise moving at retail is evidently increasing
AT wholesale also the condition prevails Of the
porting lines of trade nine advise that the dollar values of their
sales for June 1922 exceeded those 1921 Employment
has increased throughout the district generally that nvon
tary unemployment has practically disappeared wage in
crease IN the lumber industry of approximately 10 cent
crea during the month o6 It the first since the bu
cisco the principal manufacturing cities the district report
steady increases in the number of employed each month";
and substantial increase manufacturing activity as COM
pared with June 1921 An unavorabe aspect of the business
situation the increasing failures reported
Productive activity also continues Lumber and
log production during June exceeded the figures of the
months Of the and so cent and 20
spectvey in of output June 1921 OF the seventeen
copper mines of the district eight operating compared
with two year and their May 1922 output of 23613O00
pounds OF copper was nearly 100000 pounds larger than the
April 1922 output Petroleum production during June
less than smaller than the record output of the
cdg month"; and stocks of crude oil continued to increase
stocks held On July Is reduction of approximate
20 cents per barrel in crude oil prices was announced the
1921 Gasoline stocks May 81 1922 had declined 43
cent during the month and 1877 per les shan they
were year ago. on May 81, 1921 Building activity during
June exceeded only during April
The grain of the district have suffered account of
unusually dry weather during June and the total wheat yield
estimated at 103211 900 bushels compared with final
yield of 122000000 bushels during 1921 The hot weather
been unavorbe also to the growth forage crops
lures in the livestock of the district but the condition
the stock in most sections is still reported be good Warm
weather which damaged the grain crops and pastures of the
district beneficial for crops of penng fruit The yields
peaches and generally and of the other fruits
in California will be almost without exception larger they
last Shipments of fruits to eastern markets
proceeding normally Fruit California plan
ming 1922 pack which will be about 10 to 20 larger
than the pack of S50O000 1921 with opening prices
announced early july slightly higher than the prices quoted
for that pack.
Notwithstanding the increasing activity of production and
business bank credit generally continues to be abundant
cheaper Prevailing interest rates charged by banks in the
larger ceners are 12 to cent and in the agricultural
gons decreased slightly during June. Effective July Sth
redscount rate of this bank reduced to pei
cent for all classes of temporary
by the city banks from the bank attending
ing of the fiscal June S0th almost cancelled
600 compared with 900 on June I4h Desn
in agricultural activity this season throughou
the district repayments by country banks their rediscount
the bank IN general continued exceed their new
borrowings.
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Reports of yields very encouraging as far as d
Umatla county is concerned.
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headline says that Billy Sunday will preach at Hood River