The Coconino sun., 1923-08-17
BUSINESS SITUATION
THROUGHOUT THE STATE

IN general DuSlneSS IN most sections
of the state. The decline was almost
I entirely seasonal, and hence expected
due to the advent of midsummer an6
the vacation period A saving feature
was found in the fact that trade con-
tinued to exceed that Of the cores
ponding month of last year.
The month also brought its com
pensations, however. Summer rains
gave much-needed relief to cattlemen,
materially raising the condition OF
Arizona ranges. Weather for the
most part was favorable to crops, the
outlook for cotton being particularly
good.
Sen1i-annual reports by business
firms proved Of interest. One whole
sale dry goods house operating
throughout the state declared its bus
mess for the first half of the year
more than 100 per cent better than
during the first six months of 1922.
A cornice and metal works reported
its business for six months Of 1923 ex-
ceeded its business for all of last year.
There has been no let-up in mining
operations, and runors of impending
curtailments of production have been
officially branded as totally unfound-
ed. The copper market finished the
month around the 141a cent quotation
level, and it is apparent better prices
must await the beginning of buying
movement, expected in the fall.
Checking transactions reported to
the Arizona Industrial Congress show
ed a decrease from the preceding
month in every reporting city, but
compared favorably with similar fig
ures for July, 1922.
Agriculture
Favorable weather conditions dur
ing the month proved of benefit to
Arizona crops Grain harvests in the
south have been completed, and good
progress has been made in the north.
It is estimated that Arizona's wheat
production this year will be about /
092,000 bushels, from $4,000 acres,
compared with 1,274,000 bushels last
year.
Summer Rains Improve Ranges
July brought summer rains, and
with browse softened, tanks filling
and grass growing, cattlemen are
much relieved, and see brighter pros
poets for the immediate future.
Ranges showed decided improvement
during the month. and only few To-
caIities are still in need Of relief, as
the rains have been general over most
of The states range area, although
spotted.
It is estimated that Arizona Will
have approximately 10000 head Of
cattle available for fall delivery, Of
which about 10000 viii go as fat cat
tie, $4,000 as stockers, and the rest as
feeders, these figures, especially those
on fat cattle, being subject to reyls-
ion as conditions change. Few reports
Of cattle contracted have been receiv-
ed, as yet, and meanwhile cattlenen
are devoting their attention to the
of fall sales. The Arizona
Cattle Growers association is making
progress on cooperative selling pools.
Preliminary estimates are that
around 100000 head Of lambs viii be
available for fall delivery from the
state, but Of that number it is prob
able only $4,000 will go as fat lambs,
due to feed conditions earlier In the
season. Few have been reported con-
tracted one report from Navajo coun
ty being that fat lambs had been con
tracted at II cents, and feeder lambs
at 9 cents. Kansas City and Omaha
prices the first of August were quot
ed as S12.25 per hundred pounds for
fat lambs, while Denver was quoted
at $11.75.
Revised Department Of Agriculture
figures place Arizona's 1923 wool clip
at 5,800,000 pounds, compared with s.
600 COO in 1922. A feature of the sea-
son was that comparatively little of
the wool was shipped on consignment,
most of it being contracted in advance.
Prices were satisfactory, ranging from
AZ to 55 cents a pound.
Sheep pastures are gaining in con-
dition, with the outlook good.
Bank CIearings Decrease
Improvement over a year ago in the
Of Arizona banks was again
shown in reports to the state super
intendent Of banks under call of July
8, reports being as of June Both. Loans
and discounts of the 20 national and
81 state banks decreased 81 ,619 1877 .04,
standing at $4S, ,584 ,800.35 on June 80,
1923. Bills payable were placed at
S4.056,159.62, a decrease of $1,721,-
1926. At the same time, however,
deposits decreased $2,423, ,873.75, to
S65, ,6S3, ,039.85, and cash on hand and
due from banks decreased 1885,
5TC.89, to S16,666,425.S6.
Summer trade dullness was reflect
ed in banking transactions during the
month of July, every reporting city
showing a decrease from the preced-
ing month. Checking transactions
compared favorably with the CORES
ponding month Of last year, increases
more than offsetting decreases.