Brownsville herald. [volume] (Brownsville, Tex.) 1910-current, 1929-03-03
RAIN In EAST
DELAYSFARMS
Surface And Subsoil Season
In Ground, However,
Compensates

DALLAS, Tex, Mar. 2.-(P)-Rain
kept farmers in the eastern portion
of the eleventh federal reserve dis
trict from planting but a small por-
ton of their land during the last
six weeks, the Federal Reserve
monthly business review, issued to-
Gay, said.
The delay in preparation, how
ever, is partly compensated for by
an excellent surface and SubSOll
season in the ground, a sustaining
factor for crops in the summer
months, the review added.
IN the western half Of the dis
tfict, however, blowing operations
advanced normally; small grains are
in good condition and give prospects
of the best crop in several years.
Despite low temperatures over
most of the territory in early Feb
ruary, with a consequent Shrinkage,
livestock did not suffer severely.
The physical condition Of ranges
have shown the usual seasonal de-
cline, but livestock generally are
going through the winter IN good
condition.
Stock Market Lower
Although receiDtS at the Fort
Worth cattle market during January
and the first half Of February were
small. the market price has refused
10 react. continuing its downward
trend. particularly on beef steers.
The best wooded lambs reached SIS
late in the month, the highest marx
since June 1923.
January receipts and exports OF
cotton through Houston ana Cal
weston showed q seasonal decAhe
but exceeded those during the am
month last year, the total ecelp
and exports this year beng lo''4lO
and 83.719 bales, respectively.
Continuing its upward trend. nav
ing broken all previous RECORDS our
times in 1923, crude oil productlon
showed a further increase ] jan
uary. The total output OF 2~4.Z49,5OO
barrels exceeded that OF Il pre-
vious month by 10000 barrels.
Sporadic increases in drilling oper-
atoms were reported despite the de-
cline in prices, but a letup was re-
Elected in wildcat operations. u
1872 competitions during h mont
of AS were producers, ylelolng
45O,006 barrels OF oil.
OH OutDEs tDcfedScS
The daily average production LOT
Texas rose from 7l5,56l barrels N
December to 746,618 in January be-
cause of substantial increases IN
Central West Texas, the Texas
coastal, and southwest Texas fleids.
The business mortality rate IN the
eleventh district reflected a season.
al increase in January because o!
the credit strain incident to annual
settlements, yet the increase was
smaller than usual for the season.
and both the number Of failures n
indebtedness involved were smaller
than in any January since 1920.
Construction work showed a sharp
decline in January, the value OF
building permits in principal cities
cropping SO per cent as compared
with December and % per cent as
compared with the same month OF
1928. .a1
Federal reserve notes in actual
circulation declined from S~48.58O,o4O
on Dec. 81 to $39.671,0 900 on FEB ID,
and the net circulation on the lat-
fer date compared with S38.l95.S3o
on the same date in 1928. During
the first week of the new year there
was a large increase in loans 10 led
eraI reserve bank members. the
daily average volume OF the loaIlS
for the first six weeks amounting 10
500 65S.843 as compared with 81
2q9.620 during the same perlod IN
1928.