Richmond daily register. (Richmond, Madison County, Ky.) 1917-1978, 1922-11-29
BUSINESS SHOWS
| GREATER ACTIVITY
Past 80 Days Marked by Increas-
ing Confidence, Says Reserve
Bank Report.
CBy Associated press)


business throughout the Eighth
| Federal Reserve District during
the last 80 days has been mark
ed by continued growth in conf
dence and activity according to
the monthly review made pubic
today by William McC. Martin,
chairman of the board and fed
eral reserve agent. Buying has
kbeen on an impressive scale de-
( spite advancing prices with the
aggregate volume the largest
for this particular period since
1910, according to the report.
j Some complaints were made
; of the backWardness in the
| movement OF certain goods due
to the unusually warm weather,
but these were mainly for the
retail branch of distribution and
by no means the general rule,
the report pointed cut. Prices
advances n the textile markets
] had the effect OF arousing great
er interest among merchants in
future supplies and they are an
tlcipating their requirements to
greater extent than hereto
foie, the review says.
''Wiile buying is still on a
very cautious and conservative
basis" the review stated, cit
was noted that there is more of
a disposition TO fill out and bal
arce stocks, which is taken as
an indication of broadening in
the call Ior merchandise by ul-
innate consumers, also stronger
faith i'll business prospects dur
ing The next few months. Rath~
er generally among reporting
manufactur.ng and distributing
interests there is expressed dis
satisfaction with the rising trend
OF commodity prices, especially
OF manufactured goods, which
they seem to think it progress
ing more swiftly than funda-
mental conditions warrant.
apprehension is felt that if
the upward movement proceeds
much further it may result in
cessation Of buying. This fea-
ture is pointed out as the chief
menace existing at present to
the continuance Of business ac-
tivity.
/ In virtually all OF the leading
manufacturing lines, production
during the past month showed
gains over the preceding thirty
days and The corresponding peri
cd a year ago. Among the lines
in which increases were partic-
rlarly marked were iron and
steel, furniture, flupr, boots and
shoes, lumber and Woodenware." "
The report stated that the
one extremely favorable devel-
opment in the district was the
general rise in prices of farm
products; with advances record
ed in the entire list Of cereals,
with wheat and corn showing
particularly good gains.
j This accretion in value has
! served to infuse considerable op-
tinism in the agricultural sec
tions and farmers are re-enter-
ing the markets and buying
their requirements of staple
merchandise. Implement max
: ers and distributors report heavy
increases and the same is true
of stove interests and other pro-
ducers of specialties largely con-
sumed in the country. Another
! favorable effect of the upturn
1 i'll prices OF farm products has
been broadened programs for
next seasons crops"
The most unfortunate feature
in the business situation is tt
car shortage, according to the
review, this tie up being blamed
;, for hampering the operations OF
many major industries. The
roads made a good record in the
matter CT ladings in spite OF the
; shortage of cars, the repcrt
stated.
Weather conditions generally
through the district were favor
] able for the agricultural opera
! tions OF all sorts, and farmers
are well up with fall work. The
: recent ra:ns served to improve
pastures and were of conus:d r
' able benefit to the growing
crops. Winter wheat seeding
: which covered an unusually long
:, preiod due to dry weather, las
81 been completed and latest re-
: ports Indicate that the plant is
4 up to a good stand and is enter
: ;,u 4l,e >O1d ,,.oo+l,c, -, ax,,o1