Evening star., 1923-05-01
BUSINESS BOOMING
IN THIS DISTRICT
Reserve Bank Notes Caution
Among Merchants-Farm
Outlook Improving.
By the Associated Press.

By the Associated Press.
RICHMOND, Va. May 1.-Practical-
ly every line of trade and industry
for which statistics were available
showed marked gains during the past
month, and in some instances the i'm
provement was. so marked that care
ful observers are beginning to warn
the public against becoming too bull
ish on the future. says the Federal
Reserve Bank Of Richmond in it's
monthly review of business and agri-
cultural Conditions in the ffth federal
reserve district.
Price advances are being made fire.
quently in many commodities" the
review stated, land labor Is becoming
so much in demand that employers are
beginning to bid against each other
for employees. Credit appears to be
plentiful at moderate rates, and a
very large volume Of construction
work is being undertaken. some Of it
with very little actual cash to back
the operations"
Commenting upon the tendency to-
ward speculation. the bank said there
were signs that considera BILE
amount of speculation Is being in
dulged in, but when all the evidence
Is weighed it does not appear as yet
that any serious alarm is felt over
the outlook"
Merchants Using Caution.
Seeing in the general improvement
a revival of business" the bank de-
clared that ION the whole the revival
of business appears to be solidly
based on real Improvement in the
economic condition of the masses Of
the people. especially Of the agricul-
tural classes of the district outside
Of the evil-infested sections of
South Carolina" The report adds
that merchants are filling their
shelves with sufficient merchandise to
care for the demands OF their patrons.
but declares that they ARE not or
dering recklessly for future delivery"
I'm view of the small surplus stocks
of cotton and tobacco likely to be car
cludes, sit appears that the district
will continue to enjoy fair amount
of business for some time to come"
Labor in Strong Position.
From the standpoint of the work
ers." the report continued. labor is
now occupying strong position. all
able-bodied and trained workmen
finding ready employment at good
wages. The textile industry continues
to operate on full time and reports of
mill authorities view the future with
confidence in spite of recent slack
ening in the volume Of orders placed
with them. Cotton consumption in
March broke all records in both the
fifth district and the nation. Build
ing construction continues in record
volume and both wholesale and retail
trade Is far ahead Of last year at
this season.
Careful preparations are being
made for this years farming opera
tions and farmers appear to be in bet
ter position to provide the neces-
sary fertilizer. implements and stock
than they were last year. In spite of
late freezes good commercial apple
Farming Outlook Better.
"On the whole, farmers appear to be
in better shape economically than
they have been for several years. Re-
ports indicate much greater
amount of fertilizer is being bought
than last year and an unusually large
cash. Farm implement dealers have
sold q large volume of new ma
chinery. plows, ETC.. and they also
comment upon the unusual number
of sales they are making for cash.
Tobacco beds have been prepared in
Virginia and some plants are up.
Farther south some transplanting is
beginning. Wheat appears to be in
comparatively bad condition through
out the district, but favorable weather
may assist the crop in overcoming the,
unfavorable start.
Cattle have come through the win
ter in good condition and the num-
Der of hogs on farms is larger than
a year ago. Pastures are late In COM
ing out, but they are beginning to
green up now and plenty of grass
probably will be available for graz
ing and cutting.