The Guthrie Daily Leader

VOLUME XLII

UPWARD TREND ALL LINES BUSINESS SHOWN

MAY WAS BANNER MONTH IN RETAIL TRADES

NO CHANCE FOR LOWER PRICES THIS YEAR

RETAIL TRADE HAS ASSUMED UNPRECEDENTED VOLUME SINCE FIRST OF YEAR: STEEL AND IRON PRICE DOWN

Washington, May 29.—A noticeable upward trend in business during May especially in those lines related to the leading retail trades which have felt the release of buying power held back by the war, was reported today by the federal reserve board. Practically uniform reports from federal reserve agents were said to point to a summer and autumn of unusual activity.

Warning Is Issued.

A warning was added, against accepting the prospective prosperity at its full face value until conditions become more clarified.

Reconstruction Situation.

The price and reconstruction situation was said to be practically a continuation of that already noted in April when prices showing no tendency to retrograde. Agriculturally, the remarkable promise of the early spring appears to be sustained in an unusual degree, the statement said.

Prices of cattle are considerably higher than a year ago, while sheep are lower. Receipts of hogs have been smaller, while the price continues to advance.

Steel and Iron Down.

In steel and iron the nation's output fell to the lowest figures in many months but a much better tone in the market was noted.

Manufacturing Good.

General manufacturing was said to be showing decided improvement. The wool market was strong with prices in favor of the seller. Large orders

(Continued on Page 4, Col. 5)
UPWARD TREND IN ALL LINES OF BUSINESS SHOWN

(Continued From Page One)

Large orders have been placed for yarns and finished goods and woolen and worsted mills are going back on tight. These conditions are reflected in the demand for dry goods and shoes. Stock on hand are being marketed for fall delivery though look for increase to 15% or so per retailers.

Retail Trade Humming.

Retail trade is assuming unprecedented volume, while prices continue abnormally high. Retailers in most sections have made little or no adjustment, but continue to demand prices based upon war conditions, the board said. In New York large establishments report a large volume of business (two-thirds greater than a year ago, and in Chicago returns range from 35 to 50 per cent in excess of 1918. In the south there is said to be "no contraction in the public buying power, while a greater proportion of cash sales is reported.

In building there has been a distinct revival throughout the country. Real estate values were said to be hardening with sales of farm lands on the increase.

The banking position of the country is reported as one of the whole present circumstances considered at the board said. "and reserve percentages of the federal reserve system have shown an ability to hold their own."