The Topeka state journal., 1922-08-05
BLAME The STRIKE
Slight Slump Shown I'm Finan-
ciaI and Business Conditions.
Retailers in Numerous Lines
Beginning to Complain.
REVIEW BY KANSAS CITY BANK
Fair Volume of Business in Ger
tain Glasses, Report Says.
Building Boom Continues and
Freight Movement Is Heavy.

Il
| ditions issued by the Trust
company of Kansas City, Mo-, for Au-
/ gust
In part, the digest contains the fol-
lowing;
The Improvement in fundamental
| conditions which has recently been ap-
| parent to even the casual observer
/ would be still more marked but for
| the unsettlement due to the two prin-
| cipal strikes now in effect.
Conditions on the surface are not
quite SO satisfactory and retailers in
numerous lines are beginning to COM
! plain. Their reports indicate a fair
| ly liberal volume of business, but con-
| fined largely to certain grades and
/ classes of merchandise, the result be-
ing that some departments are doing
practically nothing.
Labor Is Fully Employed.
Labor is almost fully employed
(aside from strikes); the building
boom continues; freight movement IS
| unusually heavy and the total volume
| of general business is above average
for the season.
Bank clearings were at the prin-
cipaI cities during June total 81 bill
lion dollars compared with S2 billion
dollars the previous month and %
billion dollars year ago, an increase
of 6 per cent. Exclusive of New York
city, clearings were IA billion dollars
compared with 13 billion dollars the
month before and twelve billion dol
lars a year ago, the increase being
II per cent.
exports of merchandise for June
were vaued at 334 million dollars COM
pared with 337 million dollars a year
ago; imports were $50 million dollars
compared with 1S6 million dollars last
year. leaving a balance of trade in our
favor of "a million dollars compared
with 151 million dollars for June,
1921.
Business failures during June num-
bered 1888 compared with 1858 the
month before and 1854 in June of last
year.
THE average price of all commod-
tiles according to the Bankers Com
modify Price Index, on the first day
of July was $427.90 as compared with
$42s.61 a month before. $416.64 at the
beginning of the year and $571.74 on
July 1, 1921.
"Gross earnings of the principal
steam railroads for May were 447
million dollars compared with 416
million dollars a month before and
443 million dollars year ago, the in
crease over last year being nearly
per cent. Operating expenses were
354 million dollars compared with 335
million dollars the previous month and
37S million dollars a year ago, leaving
net earnings for the month of SO mil
lion dollars compared with not quite
81 million dollars the month before
and only 65 million dollars a year
dSOs the increase DelnS 40 per cent
According to the bank digest, the
fire loss in Canada and the United
States during June was "a million
dollars as against 80 million dollars in
May, and 20 million in June of 1921
There were shipped from Lake Su-
perior during June of this year, g.
$50 thousand tons OF iron ore. as
against 3.6o1 during June of 1921; and
1851 thousand tons of pig iron as
against 2,307 thousand tons in May
nf this OEk
of last year. There were active 1872
furnaces during June of this year as
against IT'S in May and seventy-six
during June of 1921.
There were produced, according to
the digest, $4,000 tons of anthracite
coal during the month June, COM
pared with $4,000 tons the month be-
fore and s,159,OO0 tons in June of
1921. THE strike has caused an al
most complete cessation of anthracite
production" There were produced
during June % million tons, as COM
pared with 20 million tons the pre-
ceding month, and 81 million tons a
year ago.
Crop Conditions Satisfactory.
Crop conditions on the whole are
most satisfactory" says the digest, !
the only crops promising a produc-
ton below average being oats. barley, |
rice and cotton Altho below average, |
the oats crop is estimated as heavier |
N-----
much heavier than a year ago, while |
the flax and cotton crops are only |
fractionally below the average of the |
years 1915 and 1920 inclusive. States |
10 per cent below average include /
Oregon, Washington, New Mexico, |
Georgia and South Carolina. the poor
est conditions being in Georgia, New
Mexico and South Carolina in the Or
der named. Aside from these states
the general crop outlook is something |
below average in fifteen SSher states, |
while twenty-eight states show con-
ditions running from average up to
IL per cent above average. The best /
crop conditions in the United States
are reported from Vermont, New
Michigan, New York and
New Jersey in the order named.
Crops which will exceed last years
include wheat with an in
crease of 3 per cent over a year ago,
pats 12 per cent, barley 81 per cent,
rye AZ per cent white potatoes "a per
cent, sweet potatoes Is per cent, to-
cent. rice per cent, hay 10 per
cent, cotton SO per cent, apples SO
per cent, peaches 6 6 per cent. pears IS
per cent. broom corn. 81 per cent,
per cent, hops IA per cent and cotton
S3 per cent.
THE average of prices paid to pro-
ducerS for the principal crops on July /
was II per cent higher than a year
ago, 81 per cent lower than two years
ago, and 80 per cent lower than the
ten year average on that date. Prices
paid to producers for meat animals /
on June is were Is per cent higher |
than a year ago. 80 per cent lower /
than two years ago, and IL per cent |
lower than the ten-year average on |
that date.
immigration for the twelve months |
ending July 1 was almost wholly Off |
set by emigration, and net arrivals |
did not greatly exceed $4,000 per- |
sons for the year.
The digest was compiled on July
II, according to the statement which
accompanies it.