Show PEACE o DOES 1 I N NOT JUDE R 4 I INDUSTRY D T I I. I Transition From War I I Basis Being Made in Harmony and and- Prosperity Prosper Prosper- i ity y U. U S. S Board oard Says By Dy Associated Press WJ WASHINGTON Jan Jt 8 f I VV Transition of the country from a war to a peace basis has proceeded thus far with very considerable smoothness and with f I decided lack of friction says a general generalI I summary of business conditions is issued issued issued is- is sued today by the federal reserve i board i I r Such slackening of business as has has' occurred was described as due to con con- I In the New York district i x industries are marking time awaiting awaiting await awalt- 1 ing developments due in part to a feeling feeling feeling feel feel- ing that prices will decline TRANSITION TRANSITION BENEFICIAL I I Other dl di districts reports a similar piliar lIar cont condItion condition con con- I t b but but t say generally generally- t mS state of things calls forth the opinion that the i transition per period od is proving beneficial in its effects Thus far the process of readjusting labor Is said to have caused inconvenience since labor set free freo from war industries has ha been absorbed t steadily by general business relieving I I an existing shortage Wages have not noth h 1 been reduced d and in some cases have peen keen increased FARMER FARMER PROSPEROUS i Agriculture was reported to be In an exceptionally promising condition The farmer was said to be In the best financial shape that has prevailed for many years year Excellent crop prospects were reported not only from the cotton cotton cotton cot cot- ton region but also from the wheat I states and from California l' l In In the livestock region conditions t ar are re much improved ed and cattle proba- proba bly will go 0 through the season in fair condition rendition There is an active and firmer r tone in the beef trade and record record rec rec- ord rd purchases of animals have been made 1 |