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Show TREND TOWARD BUYING NOTED i Orderly Movement Back To-i To-i ward More Solid, Substantial Substan-tial Footing Is Noted. PEAK OF HIGH PRICES REACHED I . Volume of Business Enormous in St. Louis Broad Gains Over 1919. WASHINGTON. May 30. With res pect to conditions, local to the various var-ious reserve districts, the Federal Reserve Re-serve board in its review, said: t "No. 1 (Boston) There is noted a trend toward greater discrimination and economy In buying, but there Is jako noted very great difficulty In tho way of actucl deflation. "No. 2 (New York) Price reduc- lions arp noted In retail stores, a 'growth In the coat of doing business, 'great reduction in securities prices, but nevertheless a continued high de- rnand for goods, and activity in trade. "No. 3 (Philadelphia) The conges- Hon of freight, a quieter atate of tho i markets And a large relative public dt-Imand dt-Imand for medium and lower paid goods lend to niter In some respecta (the general drift of development, j "No. (Cleveland) An orderly movement move-ment back toward a more solid and substantial footinc is noted, nlthougu !not all business men are agreed on tin? outlook. Business conditions, how-ever, how-ever, arc- said to be fundamentally I sound. j "No. 5 (Richmond) Unrest and uncertainty un-certainty in commercial fields have (continued, and agitation against hign prices has led to some curtailment In j purchasing. Collections arc good. Peak of High Price3 Reached "No. 6 (Atlanta) The peak of high I prices has been reached in most Mne3 land the tondency is downward. Un-i Un-i rest Htill prevails on. account of high j prices. I "No. 7 (Chicago) Decided readjust-'mont readjust-'mont in economic conditions is nnlici-'pated, nnlici-'pated, one factor in which is the growth of Indications of general reductions re-ductions of prices. The transportation and associated difficulties noted elsewhere else-where in the country appear to be especially es-pecially acute in the Chicago district. "No. S (St. Louis) The volume jI business ia enormous, the total in both resnufacturing and distribution showing show-ing broad gains over the corresponding correspond-ing period last year. The peak of the upward movement is. however, believed believ-ed to be reached. Productions have been unfavorable agriculturally. "No. 9 (Minneapolis) Crop conditions condi-tions ar,e promising. The demand for credit is very strong and the business outlook is satisfactory although there I is a disposition to be cautious. j "No. 10 (Kansas City) There was during April the first real recession i from tho high tide of activity, of the1 past year or more. There has been a curtailed movement of livestock and grain resulting from b?.d transportation transporta-tion conditions accompanied by severe financial hardships upon producers, and ahippers. Retail trade has slowed down but the general situation is regarded re-garded a3 one of encouragement "No.. 11 (Dallas) There has been a slowing up of agricultural, business ;and financial operations which, how-jever, how-jever, hris had some beneficial effect. Prices 'hhve continued upward but tho! falling off in demand has affected largely the higher priced articles. There Is recognition of a healthy spirit of caution among bank borrowers and usor3 of capital. j "No. 12 (San Francisco) The pros-: pects for good crops are better than at any time this year, although the season is late. Car shortage has hurt I lumber, building has been less active; and retail trade has fallen off alight-fly alight-fly as compared with a month ago." |