Albuquerque morning journal. [volume] (Albuquerque, N.M.) 1903-1926, 1922-10-02
BUILDING SHOWS
AN INCREASE IN
nth DISTRICT
Trade Reports Continue to
Evlnce an Optimistic
Tone; Fairly Prosperous
Season Is Already Here.

Dallas, Tex, Oct. 1.-Sustained
progress in the industrial improve
ment of the southwest marked the
trend of developments in the clos
ing month of summer, according to
the monthly review of business
and industrial condition in the
Eleventh Federal Reserve district
for August, made public by the
Federal Reserve bank of Dallas
today.
Trade reports, on the eve of
the annual movement of the cotton
crop, continue to evince the optimis-
tic tone which has characterized
them for several months past, and,
what is more to the point, are now
accompanied and supported by
sales statistics which afford ample
proof of the fact that fairly
prosperous season is already here
the report states.
There is abundant testimony
from all sections of the cotton belt
that this years crop cost even less
to produce than last years which
was quite an inexpensive crop it.
SELF it is pointed out.
The report further summarizes:
The exceptional activity in trade
at this time is largely accounted
for by the unusually early market
ing of the cotton crop this year.
Cotton Ginncd.
The amount of cotton ginned in
Texas prior to September 1 was
well above the average of previous
years.
Early returns from the cotton
crop are being reflected in the rise
of bank deposits and the shrink
age of loans. Deposits held by
banks in Dallas under date of Sep
TENDER Is reflected a gain of 35
per cent over the corresponding
period a year ago, with gains be-
ing reported by banks elsewhere
in the district.
Crop conditions concerned chief
ly-the prolonged drouth together
with very high temperatures in
every section Of the
district, responsible for more than
the usual amount of midsummer
deterioration in the cotton crop
N'Ni us huSuol lllc ppll WttNllS, vi
the other hand being held in check
by the dry weather and high tenn
peratures, with loss from this
source comparatively light; the
appearance of the leaf worm,
working damage to young cotton,
the worm. together with the drouth
a top crop" improba-
BILE. Late corn was affected by
the drouth and the yield was mate
rally reduced also grain sor-
ghums in the west and southwest
suffered greatly from the drouth.
Excellent progress has been
made in picking and ginning, with
weather conditions ideal. The gin
ners' report, issued by the bureau
of census, disclosed the fact that
prior to September 1, there had
been 100000 bales ginned in Tex
as as compared to 415,000 bales
during the corresponding period
of 1921. This seems to be excep-
tionally heavy. it is remarked, as
ginnings last year were heavier
than usual during that period.
Indications are that winter feed
crops will be good. Rains, which
have fallen in Arizona and western
New Mexico, have replenished
stock water and have been benefit
cial to the ranges. Further de-
terioration, on the other hand, has
taken place in eastern and south
ern New Mexico, where the pre-
cipitation has been very light.
The Texas range territory contin-
ues dry. but the grass is fairly
good except in the upper panhan-
die and Trans-Pecos sections of
Texas as well as most Of central
and eastern New Mexico. With
the exception Of cattle in the South
Plains region. livestock are in good
condition.
Prices on all classes Of livestock