Show ifAL CAUTIOUS UT Lii TREND IS P PROGRESSIVE R OG RE I E I I iness Outlook Reviewed Mess I by Federal Reserve Report I By Associated Press Feb Business 7 7 iJ lions s sare are characterized characterized by slack- slack rt Wot t production reluctance reluctance e of I al l buyers to acquire stocks of off nn f anticipation of reduction of oft t by an b only oraly a slight falling at off offa a business says the federal reb re- re b boards board's fd's monthly review made today oday today The board does not at- at of forecast the future course taut but federal reserve agents in i tl 11 parts arts of the country predicted the he general level le of prices would all aU much within the next few I I is is Confidence In a a. healthy de- de of the situation was ex- ex the board some Isome cases more readjustment I expected has proved to toc c said the review There I in m business but not loss of confidence in the fu- fu h he general situation Vast es Cs re re now occurring in industry readjustments in labor wing ning nl g in productive effort is re- re om m manufacturing districts t tall l trade has as yet shown only I ate ale decline and in some cases cases' one I die the manufacturing field the are taking place are af- af b by alterations in the theof of raw materials and changes in of demand The The- changes hanges lave e e taken place are however jed ed as being productive of less Jance jance ance than might reasonably be he beed beed heed ed while the tone of the busl- busl and Its Us expect expectation conditions to develop in inar ar future Is strong |