The Coconino sun., 1924-08-15
BUSINESS ABOUT HOLDS
OWN FOR PAST MONTH

Arizona business in July was char
acteristic of the season, with the
usual summer dullness in many local
tiles. The general level compared
! favorably with the same month OF
! last year, Notwithstanding slight de-
creases reported in some lines.
The agricultural season has made
excellent progress. Cotton is doing
we'll, and with p fair market shoule
! bring value of the states farm pro.
duction to $40,O0O,00O this year
Grain and hay harvests have beer
unusually successful from the pro
duction standpoint, although returns
were not good.
/ The livestock industry is IN the dull
I season between spring and fall move
ments. Cattle shipments were below
normal the first of the year, and fall
movement will depend to a consider
able extent ON whether the drouth IN
California is broken before winter
Sheep men have had good lamb
market, but the wool market contin-
ues slow despite favorable underlying
conditions.
The copper market turned upward
/ in July, advancing from 1212 to 1872
cents a pound. No changes are APP
parent in production. The 1924 mine
output is expected to be about the
same as last year, but its value prob
ably will be lower. Copper, gold, sill
yer and lead produced in Arizona last
year had an aggregate value of $1O4,-
/ 100000.
Basic soundness of conditions in
Arizona was reflected in bank reports
made to the state banking department
under call of June 30, showing gain
of $1,000,000 in deposits, and de-
crease of nearly $2,0O0.000 in loans
from a year ago, which in turn had
shown decided improvement over the
previous year. Checking transac-
tions in principal cities Of the state
as reported to the Arizona Industrial
| Congress compared well with June.
and with July of last year.
Both Babson and "The Nations
Business" map of the nations busi-
ness indicate that Arizona is in a
particularly favorable position as COM
pared with other states, and future
progress may be gagged from the
many projects which are assured
during the next few years, including
| the new Southern Pacific main line
to be built at a cost of $15,000,000,
the 81 100000 Horse Mesa power dam
/ of the Salt River Valley Water
Users association; the San Carlos
project to reclaim 100000 acres in the
| Florence-C e-Casa-Grande Valley, compile
ton of the Santa Fe's $5,000,000
double tracking program and others.
July is usually dull month in
livestock, AID proved no exception
this year. Some cattle were shipped
from Yavapai county on late spring
sales, with more to follow in August.
but otherwise there was little activ-
ity.
Movement of range cattle to points
outside the state during the first half
of the year was below normal, ship
ments amounting to but $4,000 head
during the first five months. Another
$4,000 head were shipped to points
| inside the state. Drouth conditions
in California, coupled with the fact
that northwestern buyers are still re-
stricted by credit facilities, were the
main factors, and the outlook for full
shipments hinges to great extent on
whether California receives early fall
rains. Continued drouth on the coast
will cut sales to that market, which
ordinarily takes the greater part of
Arizona's range stock for feeding.
Sales of fat cattle also have been
hampered by the drouth, California
packers buying stock in their own
state in an effort to relieve condi-
tions. However, the middle of fall
should see Arizona beef cattle again
in demand on the coast, and feeders
are holding firm with that end in
view.
Although summer showers began
early, rains thus far have been gem
orally light and decidedly spotted,
with the result that additional pre-
cipitation is needed to assure good
range conditions, as feed is becoming
short and water low in some sections.
Stock has held up very well, however.
The lamb market shows continued
steadiness, but prices are not so high
as month ago. There is some worry
over the fact that no contracts have
been made yet for feeder lambs,
which are usually all contracted by
this time. The high price of corn and
drouth conditions in the northwest
undoubtedly will throw lot Of cheap
lambs on THE market, which accounts
for feeder buyers letting Arizona
alone
The Boston wool market is showing
little strength, but no sales of west
ern wool have been made for some
time, owners preferring to hold for