OCR Text |
Show TRAPE VOLUME GAINS Further moderate improvement in business is reported during December, 1924, according to John Perrin, chairman of the board and federal reserve agent of the Twelfteh Federal Reserve District, and the continuing movement which carried business activity from the semi-depression of mid-summer to approximately normal levels at the close of the past year. Gains in volume of trade throughout the district during the past six months have been smaller than in some ,other sections of the country due to factors, such as lack of seasonal rainfall and resultant short crops, which have not been operative outside of the district but increases, nevertheless, have been substantial. It is significant that they have taken place without with-out apparent strain upon credit resources, industrial capacity, transportation facilities, or supplies of labor or raw materials. Activity in business during the full year of 1924, while slightly below the levals of 1923, was above the average of recent previous years. The firm incline of prices during the latter; half of 1924, proved a powerful factor in inducing increased production and trading, and reduction or removal of previously existing price maladjustments between groups of commodities exerted a stabili-ing stabili-ing influence on the general business situation. Fortunately we are confronting a period of real prosperity. With the favorable water conditions throughout the intermountain country and with a confidence that business all over the United States is becoming stabilized, the farmer, manufacturer and all classees of business feel that the nomalcy level will be reached and the country will enjoy universal proseperity. |