| Show RESERVE REPORTS ON OF CROPS IN DISTRICT l Wool ool Clip Is Running Lighter for This 1 t- t Year T ear eart V 4 The Federal Reserve bank of ot San S review of or Francisco In its Us general business and agricultural conditions in In the Twelfth federal reserve district dis- dis I says sas Condition of oC crops In this district month is lS las zis compared with a ago practically unchanged Cold weather and deficient precipitation during 1013 May have hac prevented Improvement Improvement Improve Improve- ment the planting and growth of crops being retarded from three to four weeks Tho winter wheat crop of ot the district Is now estimated at bushels as compared with bushels a year car ago If It the weather conditions arc are favorable during dur dur- ing ng the tho remainder of ot the tho growing season the tho Increase In the spring wheat crop will however compensate for tor approximately half of or this deficiency deficiency predictions indicating that this crop will amount to bushels as compared with bushels a arear year rear ago the net decrease in ill all wheat grown In the district being bushels v Production of ot oats In this district will win amount to approximately JOO 00 bushels in 1920 as compared with bushels V during 1919 In Increases Increases In- In cr creases In estimated crop in Idaho Utah and Washington failing falling to offset the tho decreases In California and Oregon Oregon Oregon Ore Ore- gon by approximately bush bush- els cis In California which produces products of ot the baric barley grown In three fourths 1 nA n. n tillS lUU inu uv a i ionly is JJ C I. I ii it only to tons as compared compared com corn pared with tons a year car ago Jn ln other states of the district this crop will probably be approximately tho the same game as in 1919 1019 Between and acres have e been planted to rice In California Callor- Callor nia as compared with acres in I 1919 in 1918 and In 1917 Because of or water shortage c however however how how- ever eyer It Is predicted that a considerable portion of this acreage will not bo be harvested ted Cotton Cotlon Crop The cotton crop of ot Arizona and the Imperial valley valle In California is from Crom two to three weeks late lato and condition is jg only SO per cent of normal as compared com corn pared eared with Ith 90 per cent in 1919 1910 Practically Practically none of ot this years year's crop is as aset asyet asyet yet et under contract although a a. few buyers huyers are aro guaranteeing a minimum price of oC 60 cents per pound for tor the tho coming cropf crop I f Range conditions throughout the tho district are aro better at this time than for several years Tho The movement of or cattle and sheep to ranges however howe has been slow due to the late spring sprin and lack of or carl early grass In Arizona I U It Is reported that sales of ot yearling stock have been lIeen only onh from 15 to 20 per cent of or normal and that yearling I st steers are arc priced price at from 4 54 to 6 56 less than a year ago In the Pacific north- north t est much less young oung stock is being being- purchased for tor slaughter than at athIs this hIs time last year Comparative statement of r receipts of ot live stock and of or purchases purchases pur pur- chas chases for loc local l slaughter In the tho public pub pub- lie lic yards ards at Portland Salt Lake Lako CIt City Seattle Spokane Tacoma is given below V Receipts Receipt of Lire Stock 14 V D co I a C CIt It a 4 V J 1 V VV V V 0 Cattle and caires 0 2406 Z 2410 0 Ho HoM O Ui F wd ss z W s seep Sheep p 66 G Horses Horses' and mules sO 50 C CC CG SU ToW l J. J V oe V for Local l Slaughter r l V VV S 0 4 a.- a. fc Cattle and I Iop Ie ro 21 31 fj 7 The wool clip In this district Is av- av raging one half pound lighter per fleece than in 1910 1919 Before Detore shearing began pegan some buyers buers were wore offering to contract the tho better grades rades at nt from 60 to 10 D 63 cents per pound and during during- May day ay a few sales were made mado at from fromy y O to 55 cents for finer grades and 35 cents for coarser grades No Normally most of ot tho the clip would now b be under but this year buyers buers have havo n not nt t entered the tho market and practically ally no nono no of ot tho the 1920 clip has been beon sold Cancellation of ot orders at eastern eastern east east- em ern mills and nd transportation difficulties ties tics are aro assigned as reasons for tor failure failure fail fall ure uro to move the clip Approximately cases re remain remain re- re main unsold of or cases Of bt salmon salmon salmon sal sal- mon pa packed ked on the tho Pacific coast const In 1 1019 19 Indications are aro that the 1920 pack will not exceed cases as compared with In 1919 In lOiS 1915 and in 1917 i. i Shortage of cars has resulted In congestion congestion con con- g which is 18 automatically curtailing curtailing curtail curtail- ing ins lumber output in this district and night operations have ceased in all nil producing producing producing pro pro- regions During tho the four weeks ending Juno 5 an average of or mills In tho the West Vest Coast Lumbermen's association asso lUso- reported a cut of oC feet 45 per pOI cent below normal orders of or feet per cent below cut euf and shipments of or f feet et 18 IS per cent below cut Unfilled orders on June 5 6 aggregated foet of ot which feet were raU rail or or- or I ders feet domestic cargo or or- or ders and Md feet teet export orders During the same period an average of or twelve California redwood mills reported report report- ed cd a a. cut of feet shipments shipment of or fe toot feet rt and orders accepted of ot feet as compared with a a. acut cut of ot foot foet shipments of or 23 feet and orders accepted of ot 24 feet during the preceding weeks PrIe Prices Arc Are Higher Sales SalM of ot representative e retail sto stoIn stores in this district averaged by value valne 65 per cent greater during May than durIng during during dur dur- ing April and 32 per cent cont greater ter durIng during during dur dur- ing May Moy 1920 1020 than during May 1919 Approximately 45 per cent of or t tho 0 In Increase In- In creaso crease over May M 1919 was due to In Increases Increases increases In- In creases In price Sales by representative tive wholesale firms were approximately approximate approximate- ly h 7 75 per cent greater b by value during May Ia than during April and approximately 37 per cent greater during May 1920 than during May tay 1919 Approximately Approximately 40 per cent of ot tho the Increase over May M. 1919 was due duo to Increases In prices the proportion of ot Increase duo duoto duoto duoto to higher prices In each of ot the tho various reporting reporting- wholesale lines JInes being as follows follows fol tol- fol- fol lows Hardware 35 5 5 per cent groceries gro ro ceries corles 40 per cent dry goods 45 46 per perCent percent cent cont and shoes 65 per cent As compared compared com com- m pared with April prices showed practically practically no change Retail firms inns reported report report- ed a a. slight weakness In prices of ot some goods but wholesale prices rem remained lne Vt 11 1 1 Linn Y a. a ou uk L i LU j t JU except in the case caso of or shoos shoes where there was a slight downward tendency He- He tail tall firms are aro Inclined to purchase for current deeds only stocks on hand on May 31 averaging by value 5 S per cent less than on April 30 although 53 per percent percent cent greater than on May 31 31 1919 Collections Collections Collections Col Col- during May were reported as asgood asgood asgood good in both wholesale and retail trade as compared with fair to goo good during during- Ap AprIL Bank Dank clearings In nineteen principal p cities of ot the tho district aggregated 1632 during May lay as compared with during during- April a a. decrease of ot 5 51 1 p per r cent which compares with a decrease of ot 6 52 per cont cent In April as aa compared with March tho the decrease In May ray as compared with March amounting amountIng amounting amount amount- ing Ing- to or 97 07 per cent As compared with May 1919 1019 however the clearings in these cities increased Uc- Uc or 25 per cent During May there thero were eighty elg failures fail ures in this district as M compared with lOt during during- April and four forty during during- Ma May 1919 Liabilities amounted to and assets of during April and liabilities of and assets as assets assets as- as sets ot of during durIng- May 1919 Interest and discount rates havo continued con eon tl to stiffen sUtten during the past month the prevailing rates In Industrial centers centers cen cen- ter now being from 6 to 7 per cent as compared with 6 to 7 per cent during durIng- the preceding preceding- month In agricultural centers canters the prevailing rate remains Ins S Sper Sper Sper per cent although some loans are ma made e eat at 9 and 10 per cent Statement of ot customary customary customary cus cus- tomary rates charged by by- banks in federal federal fed fed- eral reserve bank and branch cities for forthe forthe forthe the month ending Juno 10 shows Salt Lake charging cha n tho highest rate |
