Show CONDITIONS IN WEST IMPROVE Easier Credit Results From Prompt Marketing of Abundant Crops I IThe Tho The monthly report on agricultural and business conditions In Jn the tile Twelfth T federal reserve district of o which Ut la is a part pat received d In Salt Lake says that the prompt marketing o of the th abundant crops of or orthis this district has ha been reflected during the past pat month In an easier credit condition particularly In the rural sections of the dis die For the first time In more than a year end and Ind a 0 half hal the tho customary rate charged customers by banks In the leading financial financial finan finan- cial centers of cf the Intermountain states Idaho Utah and Nevada Nevada Is reported to tobe tobe tobe be 7 per cent Instead of 8 per cent Combined Com Com- rediscounts o of all al country banks in the district show a steady decline since August 16 26 end and tho the total of under re rediscount rediscount reo re II discount for tor country banks on October 4 wa was as less than the tle total at any time sines early summer Funds received from front tho the earl early and heavy sales of agricultural product products products prod prod- this season seaon have apparently supplied the credit need which In normal years Is Ismet ismet 1 met by an Increase of bank borrowings althis at al this season seaon The statement of the sixty- sixty five reporting member banks In this district as of October 6 5 last shows that their borrowings bor bo- during the tho past palt month from the Federal Reserve bank have hav not increased despite a small email smal expansion in I loans to their customers In the Industrial field expansion of building building build build- ing activity Is la noteworthy September building returns from twenty principal I cities rec reached ed the highest point since this bank banle has kept records 1907 with the number of permits 19 39 per cent and their value 17 6 per cent greater than the corresponding corre spending totals for or September 1920 Active cargo buying and large seasonal orders from domestic consumers during September produced a volume of new business for tha reporting lumber mills mis of this district greater than the amount reported for any month alec sice Mav Ia 1920 Lumber production In the first week of October was wan reported to be b 80 50 per cent of normal normal Continuing declines s In prices of materials material have operated operated op op- op- op crated to encourage silver and gold mining In the district particularly the deep as a Sis Sis- from placer gold mines and a moderate Increase of activity is Js noted In these fields Petroleum production in California during durin September on account of a strike In the San valley valey oil 01 fields was the I smallest monthly production In two and a 1 half hal years and for the first time this year consumption exceeded production with A d I I resultant decrease In storage stocks Both Doth retail and wholesale trade experienced experienced experienced the Increased activity which Is customary customary cus cus- tomary In September as compared with August Sales Saie of thirty r representative department de Se stores during September were vere 87 57 per cent less les In dollar dolar values than In Sep Sep- 1920 whereas similar percentages In the ten lines of wholesale trade reporting to this bank vary from 12 2 per cent in tho the case of automobile tires to per cent In Inthe Inthe inthe the case of agricultural Implements Hn ni In Ing re regard ard for the greater percentage of de decline de- de dine cline In wholesale than In retail prices It ItIs ItIs ItIs Is that the physical volume ol ot goods now moving at wholesale with th tOts exception of agricultural Implements and perhaps stationery is about the th sam same es that of September 1920 while the volume volumE of nf retail movement Is Ia appreciably larger than It I was wan a 0 year oar ago alo Slightly Increased employment In the four tour largest cities of the district during September Septem Septem- September ber scarcely counterbalanced the cessation of ef harvest activities In many rural districts I and ami the net change In employment conditions conditions condi condl tons during the month has been Copper mining continues on the same restricted restricted re reo re- re scale noted heretofore and at the present time only one of the fifteen large copper mines In this district is operating rho he most most- significant development during the past pat month has been the slight revival In gold and silver mining activity I |