New York, July 22.
The Board of Coyernbis of the Federal Reserve System in their report for the week ended July 22, respecting the entire body of reporting member banks of the system, reveal a decrease of $1,000,000 from ihe previous week, but show no change compared with the corre-spending period of last year.
United States Securities held showed no change from last week but show an increase of $96,000,000 compared with the corresponding period of Imst year, while the Federal Reserve ratio gained 0.2 per cent. over the previous week and 0.6 per cent. over the corresponding period of last year.
Credit outstanding to the Federal Reserve, as compared with last week and the corresponding period of last year, showed a decrease of $21,000,000 and an increase of $98,000,000 respectively. Monetary gold stocks were lower. by $19,000,000 from the previous week and by. $1,770,000,000 from the corresponding period of last year.
Industrial advanced by the Federal Reserve declined by $84,000,000 from the previous week and by $7,908,000, 000 compared with the same period of last year.
Bills bought during the period under review totalled $3,000,000; U.S. Securities held $2,20000,000, while the Federal Reserve Ratio was placed at 79.7 per cent, Credit outstanding to the Federal Reserve amounted to $2,564,000,000 monetary gold stocks $12,404,000,000 and industrial advances $21,005,000,. 000,—Reuter.
Climatie conditions have so far been all that could be desired for the new crop growth which is making fairly good progress and with average sunny weather continuing there need be no apprehension as to the quality and quantity of the final outturn, The trade in general appears, as it were, to be in a state of suspense pending further clarification of the northern political enigma and while it be not advisable to entertain any bullish views at present, bearish inclinations should not be carried to any extreme measure, considering the brighter prospects in the cu.- rent yarn position.
Yarn: Notwithstanding the weakish aspect manifested in both the foreign and domestic cotton markets as well as the gloomy political outlook in the north, the demand for spot yarn showed improvement during the pa: week and prices appreciated by about $3 per bale when compared with that last ruling. Stocks in the warehouses of the Chinese Cotton Goods Exchange decreased to around 26,000 bales; Considering the improved demand from the different ports, the general feeling is very encouraging and barring any untoward circumstances it would appear that any bearish operations had better be avoided for the time being.
Text read from the printed page and cleaned; old type leaves the occasional error.