New-York tribune., 1922-12-05
b u siness News
Business Improvement Steady
In Various Parts of Country
Better Price for Cotton
Aids South; Mid. West
Manufacturing Industry
Still 20 ing Strong

Optimistic reports concerning gen
eral business conditions continue 20
come from various sections OF TIE
country IN the monthly reports issatd
By individual Federal Reserve hanhs.
In the Southwest, conditions are
reported as follows By the Federal Re.
serve Bank ~ alias. Text
sustained act dty In practically all
lines OF trade, accompanied By heavy
liquidation OF old and current indebt-
edness, marked the course Of develop.
ments IN the business situation " the
SSuthwest during the montn OF Oeto-
ber. The momentum impaired 70 buEi.
ness progress In that month, as a re-
suit OF the marketing Of tho distiict's
cotton crop on a rapidly advancing
market, was carried over into tho
month OF November, and eleventh hour
reports point 10 q continuation Of the
excellent headway that tho industrial
and business interests OF this section
have been making since the fall crop
movements first got under way"
Cotton also formed the basis OF In
provement In the South-Atlantic sec
tion, reported BY the Federal Reserve
Bank al Richmond, Va, az follows;
THE outstanding DEVELOPMENT IN
business circles IN the Fifth Reserve
District during October and esrly No
vsnber was the steady and substantial
rise in cotton prices, the SPOT quota.
tions In the two Carolinas advancing
from an average Of 2O.sse a pound
during the first week in October 10
26.50c a pound during the week ending
November IL, gain Of approximately
kn1a ID. Ill
prices have also moved upward, and
averaged S30.41 a hundred pounds for
bright leaf on Virginia markets during
October. The influence Of the improve
ment In the farmers position ls re.
fected in practically every line Of com
meree and industry in the district, and
1 while IL 'snnot be said that conditions
are normal, IL 10 clear that distinct
progress toward a sound ard safe
volume Of trade is being made"
In the district around st. Louis,
manufacturing and agriculture con.
tinued 20 improve, according 20 the
Federal Reserve Bank Of st. Louis,
which says:
General business throughout this
district during the last thirty days has
been marked by continued growth In
confidence and activity. Despite an ad.
vaneing tendency in prices Of many
| important lines Of commodities, buying
has been on an impressive scale. with
the aggregate volume the largest for
this particular season since 1919. Some
complaints were heard OF backward.
ness In the movement OF certain goods
due 70 unusually warm weather. but
these we're mainly from the retail
branch Of distribution and by no means
the general rule. Price advances in the
textile markets have had the effect OF
arousing greater interest among mer-
chants In future supplies and they are
anticipating their requirements 70 q
greater extent than heretofore.
A slight let-down in the pace Of i'm
provement is shown In the Third Dis
trict, centered in Pennsylvania. The
Federal Reserve Bank Of Philadelphia
rep IT'S as follows;
Business conditions IN the Third
Federal Reserve District continues 70
be good, and although the rate OF in
/ provement during the last month has
not been so rapid as II was during the
preceding two or three months, the
situation to-day 10 perhaps better than
az any time since recovery began. BON
retail and Wholesale trade are more
active than they we're a year Iago, ana
manufacturer report decidedly good
business. Some industries, il is true
have had a seasousi slaekening IN DC
mand. but In nonc OF these has the
decline been greater than was to be
| eYuocfod