Cheyenne Wells record. (Cheyenne Wells, Cheyenne County, Colo.) 1???-1969, 1922-01-05
HOLIDAY TRADE INCREASED UP
TO 10 PER CENT OVER
PREVIOUS YEAR.
INCREASE over 1920
CONTINUED UPWARD TREND OF
GENERAL CONDITIONS SHOWN
By Y. S. REPORT.
,wes,.rn Sessp.u.r Union News ser'Ios.'


washington, - Continued upward
movement OF business and the Srhdusi
restoration of normal conditions are
indicated in the comparison OF reports
in the last month with those Of Decern-
her. 1920, according TO the lecemner
review of the economic situation is-
sued by the federal reserve board.
Net Improvement was found by the
board despite the recession of business
activity in December, as compared
with the same month last year.
"The holiday trade" the board said,
"is n test of the soundness of proceed
ing business activity. Reports from
the federal reserve districts covering
nyer half of the month, show that
this yepr':; demand in the Eastern dis-
tricts has registered IN increase run
ming MS high as 10 per cent of that OF
1920. while in other districts the stu
alton is pronounced unsatisfactory.
Manufacturing conditions, however
the board reported. as far from UNI
form: there being a decrease "f actlV-
lty in the iron and steel industry. whiie
textiles showed little change, and I'M
certainty exists ms to the future "t the
clothing industry. due tn labor MS
turbances and the continued demand
of consumers for lower prices.
Freight rates." the board said,
continue as disturbing factor due
TO the belief that reductions already
announced rs affecting some c"mmod-
tiles may be much more widely ex-
tended
Relatively lower prices for cereals
and cotton, the board continued, hah
discouraged trade in the agricultural
districts and also had resulted In re-
tarding the IiQuidating of frozen loans.
Hardware and related lines also were
said to be in all unsatisfactory c"ndi-
ton, but wholesale prices ARE show
ing increased stability
"A decided Improvement in Euro.
pean exchanges" the board said. "hhs
tended to some extent to help the for
eign trade situation during December,
but the extreme caution in the extern
sion of bank credits, which was previ-
nlisly so notable Il phase of our freight
trade, still continues. Export figures
Indicate IL still further decline of nc:
tlvity in staples, while imports show
an advance.
"Disturbed conditions in various
countries of Europe still render II
maintenance of business relations with
them uncertain and hazardous. Rates
of interest, which had made Il notable
decline during the autumn, have tend
ed. on the whole, still further down
ward. partly owing to the fact that
there was no foreign outlet for our
capital"
Reviewing the year in the shipping
industry, the board declared that the
industry has been through a most DIFF.
ficult period, in which many weaker
operators have been forced out OF bust
ness and in which, as Il result Of great
~ reduced freight rates, smaller avail.
able cargoes and continued high costs
Of operation, very few companies
have been able. to make satisfactory
showing. This condition has been
worldwide, although American com
panies have felt in special degree tn
handicap OF IL higher scale of wages
than their foreign competitors have
been obliged to pay,