Show BUSINESS conditions by courtesy of the richfield com and savings bank the bullish sentiment that was more or less rampant in the business field early in april has been dampened considerably of late and there is not as much talk about the danger of runaway markets the conservative element of the country viewed the rapid rise of industrial costs with distrust and was indisposed to stock up heavily at the higher level of prices the cold weather also has been a factor affecting retail trade in the textile and clothing lines department stores sales were disappointing in april but there is no reason to believe that it was for any other reason than unfavorable er the price advances that have taken place since the bottom of 0 the depression was touched have in large part represented a natural recovery and although some signs of excessive stimulation were visible in the early spring buying there has been no such protracted movement as that which preceded the slump 0 of 1920 moreover in general the situation Is not such as to produce or render possible a serious reaction the price advances which have occasioned some concern have scarcely reached consumers and no actual loss of buying power has taken place the wage advances in the steel and textile industries the signs of a co competitive m peti tive ve situation over labor in the building trades and numerous indications of higher prices evidently have impressed the country u unfavorably conservative opinion does not have confidence in a prolonged per period 1 od of prosperity on a higher price basis A slow spring trade has helped to make merchants cautious and with prices receding buyers have with held orders as they always do tho the feeling in conservative circles Is that the situation is more satisfactory because of 0 this check the pace in march ads wa s too fast to be maintained confidence had recovered to such an extent that merchants were in a mood to order freely to replenish stocks and a degree 0 of congestion and labor shortage developed which was a menace to stable business it is very desirable to have a full state of employment and production to the capacity of the industries dus tries but wage advances that cannot be maintained and that only un f settle industry are harmful instead of beneficial As to the crop outlook the season has been backward in all parts darts of the country but the grain crops have not been seriously affected by this fact spring wheat has been doing well cool and moist weather being favorable to its early stages the government report for may on wheat showed an abandonment of per cent of the acreage notwithstanding this reduction in the erea the government forecast assuming an average yield gives a crop only bushels lower than last year regarding live stock the ranch men of the west report that winter conditions have been favorable temperatures have not been severe and the snowfall has been ample to afford spring moisture on the pastures and plenty of cf water this summer for irrigation hay and grain have been plentiful and cattle and sheep came into the spring in good condition the sheep growers are feeling especially good with wool bringing 50 cents per pound and a fine lamb crop in prospect A correspondent writes from utah operators in all districts are confident that the lamb crop will be heavier than usual some predictions being as high as per cent the strategic position of wool was never better in the history of 0 the west the outlook for years to come is very hopeful granted a reasonable tariff protection based on the difference in the cost of production at home and abroad the chances of disturbance in this respect are growing less A number of wool clips were contracted early at 40 cents and 41 cents but most of the sheep she eDmen men are holding for 50 cents or better during the last week approximately fleeces of the southern utah wools have been sold at 50 50 cents netting over per head lambs are being contracted for fall delivery at 10 cents arid and 11 cents and with prospects of a heavier J lamb iamb crop than usual sheep men are confident that this seasons opera irions eions will see a big reduction in outstanding indebtedness and that 1923 will prove a stabilizing factor in the U S sheep industry the outlook for cattle is not so good prices being too low for profitable operations the same correspondent writes A continuance of the present low prices to the producer of beef can only result in growers abandoning the industry throwing on the market large numbers of breeding stock with the inevitable consequence of a shortage in ill supply for years to come and greatly increased costs to the consumer con |