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Show I BUSINESS, INDUSTRY AND FINANCE IN I ' ' THE UNITED STATES " t ,. .... Monthly Summary by Fedornl Rosorvo Board August 28, 1922 Tho outstanding featuro of tho month has boon tho lnhoront soundness which tho gonornl business situation has manifested In tho fnco of the difficulties oncountorcd. This has been shown by tho con-tlnuanco con-tlnuanco of activity nt a relatively high lovol dosplto labor disturbances distur-bances unci dosplto tho rocosslon olactlvlty normally oxpoctod at this simcon of tho yoar. l'rlcos ot Important commodities contlnuod tholr ' upward tendency during July but during August conflicting tondonclos wero apparent. Tho oxcollont agricultural prospects provide an encouraging en-couraging outlook for tho fall trade. Furthermore, Increase ot domand for cor tain commodities to compensate for rostrlctod output or dolay in placing ordors is also in prospect. Even so, businosji must necos-sarlly necos-sarlly proceed under handicaps for somo timo to como, as a rosult of fuel shortage and transportation difficulties. Manufacturing activity in general has been maintained at a high lovol. In thoso industries, such ns automobiles and building construction in which seasonal recession re-cession Is shown, activity is still far In excess ot a year ago. Cotton manufacturing llkowlso shows somo decrcaso but tho rovorso Is truo of woolen manufacturing. Tho output of non-ferrous motals other than coppor has also increased but iron and stool activity shows somo decline de-cline Bituminous coal production has increased steadily during tho prosont month. Tho labor situation showed considerable Improvement during August. The bituminous coal strlko hns boon sottlod in many fields and tho majority of tho Now England cotton mill workors havo returned return-ed to tho factories. Agricultural prospects on tho wholo continue vory satisfactory. Wholosalo trado Buffered a docllno during July as compared -with Juno in all linos oxcopt dry good but most linos wero in a hotter position than a year ago, especially hardware. Retail trado, howovor, was slightly smaller than last year. Financially tow dovolopmonts occurred during tho month. Tho rapid docllno of tho mark has been tho outstanding featuro ot tho foreign exchanges. |
