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Show SEES BUSINESS CHANGE COMING Assurance for the. Future Is Voiced in Review of Federal Fed-eral Reserve Bank WASHINGTON. Nov 1 Recovery from war and post-war conditions Is "proceeding apace in the tnited States," and the 'natural forces in evidence evi-dence which make f,.r establllzaUon carry assurance for the future," the i ..rmisi ir-nu- uuani ueciario nun- day in Its monthly review of business conditions. Although ihe readjustment process j has been marked by uncertainty and some suspension of at tiit. the board described th- sconomic and business situatio nas a whole as Is showing ' much inherent strength and an ability abil-ity to attain a position relative (lability (la-bility through an orderly transition. It argued that the necessary changes' in the direction of normal conditions; would be accomplished without grea disturbance unless unforeseen factors entered into the process "Price revisions in textile lines and i in other branches of wearing apparel . as well as in numerous staple commo-, commo-, dltles." said the board 'have been the outstanding element? in the situation Just as during the precedlni month i nON i n m i im, "Caution in buying, due to a bollef I that price readjustment Is no; yof i over, has fteen a noteworthy iactor and in some quarters has tended to slow down the ac tivity of retail trade, ail- j though more apparent In the Whole-(sale Whole-(sale trade. Crop yields have, on the i whole. Justified the expectation expressed ex-pressed at the openinc of the month Banking reserve.-, have Ik id their own durlnir the month and there hn.- been I a steady improvement In the liquidity of paper "Labor Is less fully employed. Not-' j withstanding some sporadic cuts In wages here and there, the general position pos-ition n about as god as It has been i so far as actual payments or rates of wages are eoDcerned." While the retail trade reported a I "moderate increase." in net sales as I compared with Inst fall, the usual fall, activity and buying was said to be not I in evidence. The board attibutcd some . of this condition to unseasonable weather. Reports from almoM all sections in- dlcated that the retailer had deter- mined to await further developments before renewing his stocks heavily. The outstanding orders were reported to be small and the general pure has- i Ing activity of thc retail merchant was described as "very eervatlve," The manufacturer has felt the with-j with-j holding of orders by the retailer and, according to reports, has not been able ' to operate on full time in many lines of trade because of .i leek of ordern. I Cotton mills wer mentioned specifically specifi-cally iik having been hard lnt by the I atackening of retail orders while new business in the iron and Steel industry has actually decreased. In the shoe ami bather imluatry the board found conditions simitar to , those in the cotton trade and other' textiles. The leather interests sir.- fe- , in imminent shutdowns m many , plants because of the heavy decline In buying the report. showed ' Conditions In western re.ere districts, dis-tricts, as xummarlzed by the reserve agents follow: CONDITIONS in vv i.ct. "Chicago said the business situation is still confused by countercurrents of opinion with buying somewhat je- i atricted and price readjustments pre-1 Renting some problems. "St. Louis finds fundamental conditions condi-tions satisfactory, but In all liney there j la hesitancy In purchasing goods for 'future requirements. Uncertainty as I to future prices l& the chief obstacle in the way of reco I Minneapolis reports' crops large ! I with grain moving steadily to market, and railroad efficiency Improved. How-ax How-ax er there have been declines in copper cop-per and Iron production. In building pcrrnlta and In lumber output! Crop movement needs have required large I note Issues. Kansj Cuy reports that prke recession re-cession and readjustments have been steady but without serious disarrange- menla. while retail trade and con-1 con-1 aumptlon are proceeding quietly and labor outlook la favorable. "Dallas reports abundant confidence confi-dence In underlying condition and In th future ef trade Tranaporatlon !s bf'r and the la. or .! rr, in- prpeed 'San Francisco said busmen con- dltions Indicate a period of transition. Ketall trade la stable, and good crop-have crop-have been grown, but In the wool and cotton regions, there a dUop&tlsf action with prices while lumber la In less demand thin heretofore. Grain rhai ketx have been sluggish and declln Ing ' e |