The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1922-09-02
Tone of Decided Optimism in
Monthly Business Review.
Conditions in Tenth Federal
Reserve District Better.
ABUNDANCE OF ALL CROPS
Livestock Is in Excellent Con-
dition, Report States.
Smallest Number of Business
Failures Since July, 1921.

There is a tone of decided optimism
! in the monthly review of business, in
! dustrial, and finaHcial conditions is
sued by the Federal Reserve Bank of
Kansas City for the month of August.
General conditions respecting the
basic industries and of trade and fl
nance in the Tenth Federal Reserve
district are exceptionally sound. in
spite of the restraint imposed by the
rail strike and the uncertainty of next
winters fuel supply. due to prolonga-
rtion of hhe strike of coal miners"
says the, Review.
''The<reports to the August issue of
the--Monthly Review emphasize many
favorable factors. Abundant crops of
all kinds are flowing into the markets
and bringing good returns to farmers.
gardeners and orchardists. Live stock
is in excellent condition with food in
plenty and selling at prices which
yield to growers and feeders a fair
margin of profit over and above the
investment of money and labor. There
is a continued heavy flow of crude oil
from wells in all fields and refinery
operations snow high percentage of
activity. tho prices of both crude oil
and refined products have recently
declined. Metal mining operations
have increased, with ore prices we'll
above those prevailing last year. Meat
packing and flour milling continue in
heavy volume. Some results of the
rail strike are seen in a reduction of
wheat receipts at market centers, tho
the greater part of the decrease from
last years abnormally heavy market
ing is attributed to car shortage and
, to the new system of cooperative mar
keting which is designed to promote
Ia steadier movement of grain thru
market channels. Some interruption
of deliveries of goods from snanufac-
tuners to wholesalers and from whole
lore n rot f1oFc orc tod % Of
fecting both manufacturing and trade;
but, considered as whole. the trade
situation at this time is good and un-
DERIVING conditions in practically all
lines better than for many months.
THE banking and financial situa-
tiopt in this district shows added
strength, with loanable resources Of
the banks at high levels, no extraor-
binary demand for accommodations,
even the heavy seasonal crop move-
ment requirements beingFmet by the
banks withouta ripple on the surface"
Increase of SO Der Cent.
Among the high lights of the re-
port, several industries are touched
upon. Business, according to the re-
ports in twenty-nine cities in the
Tenth federal reserve district, meas
ured by the debts by banks to indi-
ending August 2, totaled s1.06S.s04,-
600, showing an increase of 3.6 per
cent.
The smallest number of business
failures since July, 1921, was re-
ported for July of 1922, there having
been sixty-one such failures. The
total liabilities involved amounted to
less than in any month since Novem-
Der, 1920, and constituted the lowest
amount of Liabilities in any of the
twelve federal reserve districts.
Building permits were issued in
eighteen of the cities in the district to
the number of 2,575 for operations to
cost approximately $S,259,006, an in
crease of 46.5 per cent over the rec
ord of July, 1921.
Coal production in six states in the
district was 37.2 per cent of the
capacity approximately 1,455,0O0
tons, showing an increase of $4,000
tons over the production in June of
this year and a decrease of 1,625,000
tons from the average monthly pro-
duetion in the first three Ilenths of
1922 before the strike.
Decrease in Flour Production.
The production of flour, based on
the reports of mills producing 20 per
cent of the flour in the district was
| 1903, 465 barrels, a decrease of S45,-
July, 1921.
Savings deposits reported by sixty
two banks in the district totaIed
I$S6,526, 40 en- August i. 1922, as
against SS6,734,917 on July 1, 1922,
and sS1, 232,5s6 on August / of last
year.
Savings accounts by fifty-five banks
in the district totaled $26,1S2 on Au-
gust 1 of this year, as against $751;
556 on July 1, and $20S759 on August
1 of last year.
In Topeka, with seven banks re-
porting, deposits of $555,647 were re-
ported on August 1, showing a de-
crease from the $5S2,167 reported on
July 1, and also from the $5S0,40 re-
ported on August of last year
Aside from the usual midsummer
quietness and some hesitancy on the
part OF retailers in making their pur-
chases from wholesalers the general
trend of the wholesale business of the
leading centers during the month of
July indicated decided improvement
over a year ago, tho sales in most
lines were below the June record,
says the Review.
Dry Goods Business decreases.
In dry goods, an increase of 1873
per cent was reported over June, 1922,
and an increase of 1o:5 per cent over
July, 1921.
In millinery there was an increase
of 55.2 per cent over June of this
year, but q decrease of 1876 per cent
| over July of last year.
In groceries, there was decrease
of 1878 per cent over June of this year
and a decrease of 20.2 per cent over
July Of last year.
In hardware there was a decrease
of 12.1 per cent from the records of
June of this year, and an increase of
14-9 per cent over the business done
in July of last year.
In furniture there was decrease
of 37.2 per cent from the business