Show I Western Conditions Good GoodE I Ii IONE i O ONE NE E of the most gratifying letters from a general business standS standpoint standpoint stand- stand S it p point int ever issued by the Twelfth district federal reserve bank of of Sari San Francisco is that for the opening of the third quarter of 5 the year It If is declared that business is rapidly adjusting itself to high prices and nd that co collections are good gao while freer buying for fall and winter deliveries has been stimulated ted by anticipation of substantial returns from agri agricultural products for which the outlook continues good S While industry generally is active some sections it is stated report sensational improvements in wholesale and retail trade that exceed the point reached in prewar times c Possibly the most important single statement is that the value of building permits issued in th the nineteen principal cities of the Twelfth district during June was 82 per cent greater than for the corresponding month of 1918 while the bank clearings in the same ni nineteen teen cities during June were per cent greater than in the corresponding month last year There was a slight gain in the number of business failures but a material decrease in the amount of money involved Taken altogether the report is highly encouraging although as as usual conservative and it offers proof that the wave of prosperity prosperity pros pros- erity has reached the coast states which usually are the last to experience a change in either direction in business and trade affairs |