Show i OFFICERS NAME COMMITTEE 1 To VI WAGE BATTLE IllE i t Federal federal Reserve Res Board in in ri Monthly Review Sees No Relief From v Present H J. J High Hi g h Prices ri ce s J ji Pr J fc V WASHINGTON ASHI ASHINGTON Aug 1 No Nc Nc W relief from present high prices is forecast in the federal review w reserve boards board's monthly of business conditions issued to today day which notes that ruly July saw increases Increases In Increases In- In creases In many lines In general th the review said there Is a disposition to accept present price ol levels and to expect a continuation o the pre prevailing ailing level for some time to come have In many districts high prices not served to check demand but the possibility o of obtaining goods was found to be of o greater moment to the buyer than the price fixed On the theother theother other hand the board said the very great price Increases which have taken place In certain lines have made buyers buyers buyers buy buy- ers more cautious care being taken taker not to increase unduly stocks acquired at the present price level for fear a decline might occur NO LABOR SURPLUS Continued high prices along with constant growth in trade both wholesale wholesale whole whole- wholesale sale and retail and increased activity in some somo of the basic industries sustained sustaIned sustained sus sus- confidence in the industrial situation situation situation sit sit- led to expansion many in-many lines Almost the only complaints heard concern shortage of raw materials materials materials ma ma- and in in a few districts labor troubles although a majority o of the districts report normal labor conditions condi condi- Instead of a fear o of unemployment which had been expressed during the early part of the tho year the board said the reports received manifest the fearo fear of o an impending shortage of labor The exodus of alien workers was blamed in part FARM PROSPECTS The agricultural outlook on the whole was reported favorable with in indications indications indications in- in that the cotton crop would be much shorter than previously Indicated Indi indi- Manufacturing continues active marked advances In prices having occurred occurred occurred oc oc- oc- oc in cotton goods with many mills oversold Export orders were said to be large Raw wool still stin is in heavy demand and revival In building has continued Turning to the financial situation the board declared that while speculation speculation speculation specula specula- tion continued at an high level an investment demand for stocks has revealed resealed itself itsel leading to the withdrawal withdrawal withdrawal with with- of an unusual amount of shares from the market The banking situation situation situation situa situa- tion was reported sound cr credit and collection conditions and failures small and few BY DISTRICTS Conditions by districts were described described described de de- scribed as s follows New York York Commercial activity which commonly reaches its climax inlay in May lay has been continued Into the early summer ummer and a general favorable outlook out- out ook look Is noted Chicago Chicago While While merchandising and nd manufacturing are active there has devel a rather decided feeling of ot abor labor unrest especially In Chicago San Francisco July Francisco July estimates of ot ag- ag production are slightly below i Tune June figures while hile industrial activity I is s increasing I |