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The Monthly

B usiness R eview
C o v e r in g B u sin ess a n d A g r i c u l t u r a l C o n d itio n s in th e S i x t h F e d e r a l R e s e r v e D is tr ic t

F E D E R A L

R E SE R V E

B A N K

O F

A T L A N T A

J O S . A . M c C O R D , C h a i r m a n o f th e B o a r d a n d F e d e r a l R e s e r v e A g e n t
W A R D

VOL. 5

A L B E R T S O N , A s s is t a n t F e d e r a l R e s e r v e A g e n t

A T L A N T A , G E O R G IA , D E C E M B E R 2 7 ,
RETAIL AND WHOLESALE TRADE

The usual holiday buying has stimulated retail trade to
some extent and all lines are enjoying more or less activity
after a period of comparative quiet. Bargain sales con­
tinue to be the order of the day, and retailers are widely ad­
vertising prices reduced from twenty per cent to as much as
fifty percent in some instances. Retail clothiers state they
are now in a position to buy considerably under figures of
two or three months ago, and are making strong efforts to
nd themselves of stocks even at a loss.
All reporting Department Stores show reduced stocks
at the close of November as compared with October, the
average percentage of reduction for the District, however,
being only 6.7 per cent. Only two departments stores show
stocks for November 1920 to be smaller than for November
1919, the average increase for the District being 16.3 per cent.
Four Department Stores show sales for November smaller
than for October, other increases bringing the net average
for the District to an increase of 14.6 per cent. As com­
pared with November 1919, all reporting stores show in­
creases, the District average being 18.8 per cent.
Compilation of figures contained in reports from w hole­
sale firms, throughout the District show decreases in sales
in a large majority of instances. For the seven cities from
which w holesale grocery reports were received, decreases
were shown in all in stan ces; as compared with sales for
October 1920, the average decrease for the District was 11.7
per cent ; as compared with sales for the month of Novem ­
ber 1919 the average decresae for the District was 18.2 per
cent. All reports show that both wholesalers and retailers
arc buying cautiously, and only for immediate needs. One
report shows collections not nearly so good as at the same
time last year.
In the wholesale dry goods trade, an increase of 9.1 per
cent in volume of sales during November over October, was
shown in Atlanta, decreases in all other cities bringing the
District average to a decrease of 9.5 per cent. As compared
with November 1919 all reporting cities show decreases,
 7.7 per cent to 92.8 percent, the District aver­
ranging from


1920

N o. 12

age being 49.4 per cent. Both wholesalers and retailers are
buying very cautiously and only in necessary quantities.
In wholesale hardware business, increases were shown
in Jacksonville, over October of 12.4 per cent, and over No­
vember 1919 of 21.5 per cent; and in Tampa, over October of
0.9 per cent, and over November 1919 of 44.7 per cent. All
other reporting cities show decreases which bring the
average for the District to a net decrease of 12.2 per cent
over October, and 9.4 per cent over November 1919.
All repprts received from wholesale shoe firms show
decreases, both as compared with October, the average being
31.5 per cent, and as compared with November 1919, the
average being 402 per cent. Little buying is being done.
Collections are reported slow and unsatisfactory.

AG RICU LTU RE
The final estimate by the United States Department of
Agriculture, of the 1920 cotton crop shows the production
to be larger than that of any year since 1914, when the
country’s record crop was grown. The final estimate of the
crop placed the reduction a* 12,987,000 bales, exclusive of
linters, the average w eight per running bale being 506.9
pounds gross. The production for 1919 was 11,420,762 bales of
500 pounds; for 1918, 12,240,532 bales, and for 1917, 11,302,375
bales.
Production for this year, by states, in 500 pound bale*
is as follows
Alabama ....................................................................... 660,000 bale*Arizona ....................................................................... 110,000 bales
Arkansas ..................................................................... 1,160,000 bales
California ................................................................... 15Q;000 bales
Florida ........................................................................... 18000 bales
Georgia ......................................................................... 1,400,000 bales
Louisiana — .......................................... .................. 389^000 bales
Mississippi .............................................................. .— 885,000 bales
Missouri .......................................................................
85,000 bales
Oklahoma ..... .............................................................. 1,300,000 bales
North Carolina ......................................................... 840,000 bales
South Carolina ------------------------------------------- 1,530,000 bales

2

THE

M ONTHLY

T ennessee ............................................................................ 310,000
Texas ................................ ...................................................... 4,200,000
Virginia ................................................................................... 19,000
All other S tates ................................................................ 15,000

BU SINESS

bales
bales
bales
bales

P ractically all of the crop has been harvested, but rep o rts
show th a t little is being sold, the farm ers in a large num ber
of instances declining to sell at the low prices prevailing,
which have been around 14.25 to 15.25 during the m onth. A
considerable am ount is being held on the farm s, while the
w arehouses are said to be full of cotton.
Farm ers give evidence of much discouragem ent because
of the low prices of farm products and the continued high
cost of m any of the things a farm er m ust buy in order to
continue operations. Some farm ers claim they will be
unable to m ake a crop next year because of this y ear’s
losses.
The low price of cotton seems to have stim ulated the
planting of w inter grains, and if the areas are not w interkilled it appears as if next y ea r’s cotton acreage is already
reduced. T here is a m ovem ent on foot, in which the sou th ­
ern bankers as well as farm ers are taking p art, to effect a
reduction of at least one-third in the acreage planted to
cotton next year. It is felt th a t this m ovem ent will be more
successful because some of the banks are rep o rted to have
intim ated they will refuse credit to farm ers who p ersist in
planting full acreages in to cotton for the 1921 season.
T ennessee rep o rts indicate th a t th ere will be a consider­
able qu an tity of cotton left in the fields, as w ith p resent
prices some farm ers say they cannot afford to pay for the
picking. About 86 per cent of the crop in T ennessee had
been picked by D ecem ber 1.
All cotton in M ississippi has been picked except in the
n o rth ern counties, w here a small percentage rem ains in
the fields.
The h arvesting of sw eet p otatoes has been practically
com pleted in Florida. D igging continues in Louisiana, and
the yields are satisfacto ry and well above the ten year
average. In M ississippi harv estin g is about com pleted
Yields are fine and quality good.
W in ter truck crops in F lorida show about
velopm ent. E arly lettuce is on the m arket, and
the cabbage and celery is being tran sp lan ted .
of pepper, eggplant, cucum bers, tom atoes and
begun in souther F lorida.

norm al de­
the last of
M ovem ent
squash has

R EVIEW

prices, but the building up of herds and im provem ent of
quality continues. M ovem ent to m ark et is slow.
The hog production of T ennessee is being sadly depleted,
and a decrease is estim ated com pared w ith the figures for
last year. Hogs for slaughter are not as fat as usual for this
tim e of the season. L ivestock generally is in fair condi­
tion.

CANE SYRUP
Cane syrup in Georgia this fall is estim ated to be about
one million gallons less th an it was a year ago. The esti­
m ated production for 1920 in Georgia is placed at 9,697,000
gallons, com pared w ith 10,640,000 gallons produced last fall.
The crop has an approxim ate value of $9,406,000. The area
h arvested was 72,000 acres, out of w hich 12,000 acres were
saved for seeding next y ear’s crop. A bout 162 gallons was
the average yield of syrup per acre, the quality was reported
good. Sundry causes are assigned for th e shortage in p ro ­
duction this year, chief of which are the dry w eath er in
Septem ber, which prevented the form ation of juice, and the
freeze a few weeks ago. F arm ers are finding some diffi­
culty in finding a m arket for th e ir product.
In M ississippi syrup m aking from cane is in full progress.
The yield and quality are rep o rted excellent.

SUGAR
The prolonged cold spell in Louisiana during Novem ber
caused an estim ated loss of about 17,000 tons of sugar to
Louisiana planters, due p artly to the laten ess of the g rin d ­
ing season, and the large am ount of cane which was still
standing in the field. This figure rep resen ts about 10% of
the estim ated output, as of November 1st, w hich was 181,000
tons, an increase of 60,000 tons over last y ea r’s sugar crop.
In spite of the freeze, this y ea r’s production is estim ated
to be slightly larger th an th a t of 1919. It is rep o rted th a t a
few factories have already com pleted th eir grinding, and
th a t m ost of the factories in the sta te will have com pleted
grinding before the end of the year.

RICE

This y ear’s yield of corn, rice, tobacco and potatoes is
large. The citrus crop is fairly heavy, but prices at the p resen t
are uncertain. Im m ature fruit was shipped in large q u an ti­
ties early in the season, and shipm ents of m ature fruit are
being blocked to some exten t by this accum ulation of un­
salable fru it in the hands of jobbers and w holesalers.

The New O rleans rice m arket is rep o rted still very quiet,
with no especial activity expected before Ja n u ary . Best
rice closed in N ovem ber at 6% cents. T he lull is attrib u ted
to the financial condition, and no t to a surplus stock. Rice
millers of New O rleans claim not to be buying any rice,
but willing to clean it at a co n tract price of 75 cents per
barrel of 162 pounds of rough rice. Some export dem and
is developing on account of th e general level of low prcies.

Practically all raisers of livestock in Florida are re­
ported to have lost money this year because i low market

Receipts, shipments and stocks of rice during November
were as fo llo w s:




THE

M ONTHLY

BUSINESS R E V I E W

ROUGH RICE (Sacks)
November 1920 November 1919
Receipts ................................................. .209,144
153,265
Slvpments .............................................. 254,266
141,412
Stocks ...................................................... 99,932
51,586
CLEAN RICE (P ockets)
November 1920 November 1919
..........144,367
343832
.......329,539
466,550
........ .288,798
295,893

Receipts .
Shipments
Stocks ....

ROUGH RICE (P ockets) SEASON
Season 1920
Season 1919
Receipts .............................................. 2,282,523
2,250,166
Shipments ...........................................1,825,183
1,705,199
Rice sales for the month of October 1920 amounted to
963,263 pockets, which compares favorably with the sales
during October 1919, which were 1,007,587 pockets.

IMPORTS AND EXPORTS—NEW ORLEANS
Imports through the port of New Orleans for the month
of October showed a decrease of more than a million dollars
in value, although the volume was greater than for October
1919. Following is a l*st of the items showing the amount
and value, for October 1920:
Commodity
Amount
Value
$ 693,361.00
Creosote Oil ............................. 3,088,867 gallans
Nitrate of Soda ........................
25,393 tons
1,231,980.00
Coffee .........................................37,693,666 pounds
5,429,616.00
Sisal .............................................
7,608 tons
832,719.00
696,654.00
Burlaps ..................................... 5,029,000 pounds
Bananas ..................................... 1,444,000 bunches
581,493.00
Ferro-Manganese ...................
851 tons
150,170.00
Mineral Oil ............................. 99,414,000 gallons
1,156,213.00
Mahogany ................................. 1,995,000 feet
258,530.00
M olasses .................................... 7,403,566 gallons
166,693.00
Sugar ......................................... S62,940 pounds
59,547.00
Beet seed ................................. 676,000 pounds
. 155.896.00
Total .............................................................................$12,201,083.00
The following table shows comparative figures for im­
ports at.N ew Orleans for October of the years shown:
Ocvtober 1920 ..........................................................$12,201,083
October 1919 ............................................................ 13,756,354
October 1918 ............................................................ 9,002,364
October 1914 ........................................................... 4,621,598
October 1910 .......................................................... 5,235,046
The jam on the Havana docks remains unabated, and the




3

Cuban moratorium has been extended, owing to the un­
changed financial situation.
The organization of the Federal International Banking
Company, referred to in last month’s review, has taken
definite shape during the past month, and it is expected the
deta;ls will be worked out in the very near future and that
the Company will begin functioning at a very early time.
While the main purpose of the undertaking is to facilitate
the financing of cotton exports, other products of the South­
ern States will be handled.

LUMBER
A noticeable improvement in demand for Southern Pine
has taken place in the southeast; business is slightly in ex­
cess of the early fall volume, and there are indications that
the gain will become progressively heavier.
General reports indicate that the number of mills which
have voluntarily closed down, or made drastic reductions
in output, is being steadily increased, while many others
are in a state of enforced idleness by the weak demand
Despite the many curtailments and suspensions, production
remains above the level of orders, though this surplus out­
put is insufficient to produce an accumulation of lumber.
Reports from southern Alabam are indicative of general
improvement in the trade. Prices have advanced some­
what, and lumbermen are finding a better market for their
products. Many mills in that section which have been idle
are reported to have resumed operations, although quite
a number are still idle. Building campaigns have been in­
augurated in many cities and towns, and the market is said
to have assumed a more settled tone.
Savannah reports are also optimistic in their nature, and
show that prices of Southern Pine in that market have
strengthened, and that demand is greater than for tfie last
two or three months. The price of Cypress in the Savan­
nah market has never dropped a great deal. Conditions
are fair, and the demand is good and steadily growing better.
The demand for hardwoods is increasing, with fair prices.
The recent car shortage appears from all reports to have
been entirely relieved, and cars are plentiful at the present.
There is some fear on the part of dealers that the expected
volume of orders may in the near future cause another con­
gestion.
New Orleans reports are not so bright. The market ap­
pears to have run into a before-the-holiday lull, with more
mills closing down. This condition is expected to continue
until after the holidays.

THE

4

M ONTHLY

BU SIN ESS

COAL, IRON AND S T E E L
Coal production in A labam a, despite the m iner’s strik e
has continued to im prove. Supplies of steam coal are p len ti­
ful, and the supply of dom estic coal is approaching the de­
m and.
T h ere is quite a slump in the coke m arket, but production
rem ains steady.

Some of th e la rg e r iron-m anufactu rin g

concerns, m aking th e ir own coke, have a good supply on
hand, accum ulated largely during the sum m er in an ticip a­
tion of an em ergency.

No inqiury for coke is rep o rted by

independent concerns, and few sales are recorded.

The

by-product coke oven plants in the district are active.
Q uotations show some w eakness, furnace coke being quoted
aro u n d $9 to $10, and foundry coke a t $12.50.

Local con­

sum ption is far below the levels of tw o or th ree m onths
ago.
L ow er prices of pig-iron have n o t induced any g rea t
am ount of business w ith th e southern m anufacturers and
th ere has been fu rth e r reduction in production.

T he piles

of pig-iron in A labam a furnace yards have increased, and
an estim ate is th a t the to ta l accum ulated stock is now
around 100,000 tons. Inquiries are lacking and no predictions
are being m ade as to w hen recovery will set in. E stim ates
as to the N ovem ber production of pig-iron in A labam a in­
dicate th a t a falling off will be show n in com parison w ith
the O ctober figure, w hich w as 196,669 tons.
Shipm ents of pig-iron from the B irm ingham d istrict are
n o t only in small lots, but are slow. H om e consum ption is
steadily declining.
T he cast-iron pipe p lant o p erations are no t m ore th a n
35 p er cent of capacity. T he sanitary-pipe p la n t operations
the h ard ly th a t m uch.
T he scrap-iron and steel m ark et is still quiet. Old con­
tra c ts are still being delivered on, though unfilled to n n ag
is n earin g th e end. Q uotations are w eaker and merely
nom inal.

REVIEW

LABOR.
A con tro v ersy is rep o rted th ro u g h th e p ress betw een
the em ployers of p rin te rs, in A tlan ta, and th e unions, on a
proposed reduction from 48 hours a w eek to 44 hours a
week.
M aster Builders of th e city have announced a new w age
scale for all classes of w o rk ers effective Ja n u ary 1st. U nder
the new scale ca rp en te rs will receive 70 cents an hour in ­
stead of 85 to 90 cents, as a t p re se n t; p la ste re rs and cem ent
finishers will receive 90 cents an h our in place of $1.25 to
$1.40; p ain ters will receive 60 cents an hour in place of $1.00,
and common labor is to be paid 30 cents an h our in place
of 45 to 50 cents. T he w gaes outlined are said to be at
least double those paid befo re 1916.
The strik e in th e A labam a coal m ines is still on, b u t
appears to have little effect on coal production w hich has
increased to a p o in t alm ost norm al.
M ost of th e co tto n mills in the d istrict have cu rtailed
o p eratio n s; some few have closed dow n, w hile a m ajo rity
are o p eratin g on sh o rt tim e. M ost of them have reduced
wages to some ex ten t. In Columbus, A thens and W e st P o in t
curtailm ents have been m ade, and th e re is rep o rted some
slight unem ploym ent incident to th e sh o rten ed hours and
the sh u ttin g off of n ig h t runs. M an u facto ries o th er th an
textiles are n o t rep o rted o p era tin g on sh o rt tim e.
In F lorida th e re is some unem ploym ent rep o rted as a
resu lt of the sh u ttin g down of some saw mills and the
short tim e operations of o th ers, and th e prevailing quiet
in N aval S tores.
N ashville rep o rts a re to the effect th a t m an u factu rers,
w ith few exceptions, are o p era tin g on full tim e w ith very
little unem ploym ent.
NAVAL STO R ES.
Q uiet has prevailed in' N aval S tores for several w eeks,
sales being p ractically a t a stan d still, and p resen t prices
being rep o rted less th a n production costs.
T h ere is some little m ovem ent, w hich, though steady,
is of m o d erate p ro p o rtio n s, into dom estic channels of con­
sum ption, b ut buyers to as g re a t an ex ten t as possible con­
tinue to hold off in o rd er to d eterm ine w h at course prices
will tak e.

CONDITION OF W H O L E SA L E T R A D E D U RING O CTO BER, 1920
In F ed eral R eserv e D istrict No. 6
1—(a ) P ercen tag e of increase (o r decrease) in net sales
1—(b ) P erce n tag e of increase (o r decrease) in n et sales
for N ovem ber, 1920, over previous m o n th :
for N ovem ber, 1920, over sam e m onth la st y ea r:
Groceries D rygoods H ardw are
Groceries D rygoods H ard w are
Shoes
Shoes
A tla n ta ...................
21.1*
9.1
58.4*
55.2*
24.5*
21.5*
70.9*
38.1*
A tlan ta ..................
......
......
A ugusta ............... .
21.0*
58.8*
A ugusta ............... .
Birm ingham
13.2*
2.9*
29.7*
27.9*
7.7*
B irm ingham ..........
33.7*
22.9*
7.4*
Jacksonville ..........
19.3*
12.4*
7.4*
41.0*
21.5*
68.3*
48.8*
Jacksonville . ...
......
......
......
M eridian ............. .
3.9*
21.1*
M eridian .............
Nashville ..............
23.3*
9.2*
25.4*
10.4*
48.8*
11.4*
22.8*
15.7*
N ashville .............
New O rleans ...
11.0*
18.7*
22.2*
9.6*
92.8*
23.3
19.1*
31.8*
New O rleans .....
*
Tam pa ....................
2.0*
4.3*
0.9*
14.5*
25.9*
44.7*
Tam pa ....................
D ISTRICT A V E’GE




11.7*

9.5*

12.2*

31.5*

♦Indicates D ecrease.

D ISTR IC T A V E’GE
—Indicates no report.

18.2*

49.4*

9.4*

40.2*

THE

M ONTHLY

BU SINESS

-M
S3
u £
u o
0) <
V
CkQ

o\
O
N

GEORGIA:
Atlanta ............................. $244,399,745
Augusta ........................... 12,981,078
Columbus .......................... 4,200,566
Macon ........:...................... 21,505,060
Savannah .......................... 36,005,481

32.1
59.4
31.7
44.5
40.8

ALABAMA:
Birmingham ....................
Mobile ...............................
Montgomery ....................

85,111,169
9,839,255
7,195,625

5

FLORIDA:

CLEARINGS—NOVEMBER

o\

R EVIEW

77,729,060
9.5
9,701,321
1.4
9,746,094 .......

1
Jacksonville ......... ........ 49,422,968
Pensacola ............. .......
8,459,925
Tampa ..................... .......... 9,435,195
LOUISIANA:
New Orleans ........ .......... 255,114,529
M ISSISSIPPI:
Vicksburg ............. .......... 1,733,340
TENNESSEE:

O
N
2
39,574,361
9,832,280
7,874,784

V
£ w
U.S U £
1U u¥
P H PhQ
-l H
24.8
139
19.8

331,342,771

23.0

2,680,041

35.3

Chattanooga .......... .......... 31,125,769
Knoxville ............... .......... 13,717,083
Nashville ............... ........ 92,132,462

26.2

32,493,547
13,314,004
95,515,776

4.2
3.0
3.5

CONDITION OF RETAIL TRADE DURING NOVEMBER, 1920
In Federal Reserve D istrict No. 6
Percentage of Increase (or Decrease)

(1)

(2)

Comparison of net sales
with those of correspond­
ing period last year

Stocks at end of
motuh compared
with

A
Nov.

A
B
Same Month
July to date
Last Year

Atlanta ................

-7.4

7.8

9.8

New Orleans

26.4

24.9

Birmingham

12.2

25.1

Jacksonville

-2.0

Nashville ............

(3)

B
Last
Month

Percentage of aver­
age stocks at end of
each monrh July 1
to Nov. 30, to aver­
age monthly sales
over same period.

(4)
P ercen ta g e o f
outstanding o r ­
ders at end of
month to total
purchases during
calendar year
1919

-43*

546.5*

5.7

21.0

- 7:9

368 6**

7.7**

16.9*

-4.8*

365.3*

2.3*

11.3

-1.6

-4.4

260.1

10.1

11.3

13.5

-6.3

340.8*

1.6*

DISTRICT .............. .............. 14.6

18.8

16.3

-6.7

430.1

5.8

....

Decrease

DEBITS TO INDIVIDUAL ACCOUNT AT CLEARING
BANKS, SIXTH FEDERAL
RESERVE DISTRICT

1,664
13,924
5,652
1,870

Atlanta ...................... .............. $
Augusta .................... ..............
Birmingham ............. ..............
Chattanooga ........... ..............
Jacksonville ............. ..............
Knoxville .................. ...............
Macon ........................ ..............
Mobile ................................. .
Montgomery ............ ..............
Nashville .................................
 ...........
New Orleans
..............


23,517
6,279
17,391
9,458
11,044
8,795
4,041
7,950
3,960
21,207
79,878

$ 26,790
7,459
17,771
10,784
11,078
8,090
4,643
6,802
’ 3,846
22,973
77,649

$ 34,980
11,883
15,297
12,436
12,867
7,141
7,977
9,134
6,018
23,116
96,611

2,166
23,874
6,442
2,407

$216,630

(Tn Thousands of Dollars)
W eek Ending
Dec. 1,1920 Nov. 24,1920 Dec. 3,1919

1,839
15,767
6,682
1,546
$223,719

$272,349

BUILDING OPERATIONS—NOVEMBER

ALABAM A:
Anniston .................
Birmingham .......... .
M o b ile.......................
Montgomery ..........
Selma .......................

Repairs and
New
Per Per
Alterations
Buildings Cent Cent
No. Value
No. Value Inc. Dec.
14 $ 6,000
9 $ 80,000 365.5
252
92,690 102 278,323
3U
9
3,775
4
9,900
83
20,319 13
7,680
13
3,731
1
1,200

THE

6

M ONTHLY

FLORIDA:

BU SIN ESS

R EVIEW

R E C E IP T S —In te rio r T ow ns:
171
45
67
43
16

40,560
13,068
13,929
20,581
16,010

40 166,050 ............
11.6
80 194,640 140.5 .............
7 21,535 ..........................
44 207,490 ............ 23.3
55 82,660 .........................

G E O R G IA :
A tlan ta ....................... 140
A ugusta ....................... 120
8
Brunsw ick ..............r
Columbus ...........................
M acon ......................... 61
S avannah ................... 10
W aycross ................... 1

146,805
19,113
900
..........
78,290
12,900
10

34 218,160 ............ 35.0
15 47,100 ............ 33.3
2
700 ............ 88.7
5319,200 256.0 ............
8 68,475 ............ 34.3
32 143,925 ............
16.5
3 1,565 ............ 73.3
71846,884 135.9 ............
12 12,125 ..........................

Jacksonville ..............
O rlando .......................
Pensacola ...................
Tam pa ........................
W est Palm Beach

LOUISIA N A:
New O rleans ..........
A lexandria ................

29
46

51,595
18,598

M IS S IS S IP P I:
M eridian .....................

4

1,475

T E N N E S SE E :
Jo h n son City ..........
0
Knoxville ..................... 40
N ashville ..................... 187

19,666
78,844

9,410
17,859
2,452

39,905
89,915
5,164
1,589
45,302
15,531
10,771

153,666
11,853
54,930

Canton ..........................
Jack so n ........................
M acon ............................
M ontgom ery .............
V icksburg ....................

29,572
67,827
6,309
4,591
6,723
12,888
6,492

90,031
4,683
102,388

181,214
70,193
179,314

11,025
23,531

33,459
66,571
5,356
2,666
42,382
16,734
4,910

SH IPM E N T S—P o rts :

S H IPM E N T S -

Canton ...............
Jack so n .............
M acon ................
M ontgom ery ...
V icksburg .........

n s:
21,696
25,590
2,800
1,759
4,301
4,103
976

5,145
6,530
308

STOCKS—P o rts :
0
59,812
21,744

413,201
15,003
160,770

7 14,900 15.9 ..............
17 52,500 ............ 55.6
24 .59,025
0.3 ..............

285,212
5,978
109,811

416,562

27,710
142,677
11,063
10,572
17,151
30,947
11,010

20,107
110,338

42,350
66,571
8,296
11,030
57,881
22,522
8,062

33,897
367,111

STOCKS—In terio r T ow ns:
M O V EM EN T OF COTTON
Nov., 1920 Oct., 1920
R E C E IP T S —P o r ts :
New O rleans ...................... 281,655
169,754
Mobile ...................................... 21,029
8,372
Savannah ............................. 105,889
110,392




Nov., 1919
208,842
84,477
218,655

14,730
22,162
7,638

THE

M ONTHLY

BUSINESS

7

R EVIEW

R E P O R T ON COTTON GINNING
N um ber of bales of cotton ginned from the grow th of 1920 prior to Decem ber, 1, 1920, and com parative statistics to
the corresponding date of 1919 and 1918; crops of 1919 and 1918, and the per cent of the crop of each year ginned prior to
December 1.
RUNNING BALES
(C ounting round bales as half bales and excluding lin ters.)
STA TE

GINNED PR IO R TO
DEC. 1.
1920

Alabama .............
Arizona ...............
A rkansas ............
C alifornia ...........
Florida .................
Georgia ...............
Louisiana .............
M ississippi .........
M:ssouri ...............
N orth C arolina .
Oklahom a ...........
South Carolina .
T ennessee ...........
Texas ...................
V irginia ...............
All o th er states

10,144,921
570,992
57,286
812,912
32,709
16,063
1,261,326
331,041
730,571
44,141
611,103
768,712
1,259,029
209,741
3,423,111
9,842
6,342

P er Cent
of Crop
Ginned
P rio r
to Dec. 1

CROP

1919

1918

• 1919

1918

1919

1918

8,844,368
632,287
35,415
605,789
28,426
15,779
1,556,137
260,451
742,514
39,980
694,640
635,378
1,298,080
197,094
2,099,752
17,332
3.314

9,571,414
682,534
18,845
721,431
32,276
21,465
1,765,950
461,130
893,757
40,677
648,921
474,747
1,241,656
223,944
2,325,701
15,112
3,268

11,325,532
716,655
58,472
867,177
59,082
17,317
1,678,758
303,035
950,907
62,677
857,253
1,002,178
1,462,277
301,408
2,960,335
23,076
4,935

11,906,480
789,265
54,215
957,118
71,479
34,951
2,117,860
582,698
1,193,122
59,797
919,338
585,149
1,581,726
317,962
2,610,337
25,235
6,223

78.1
88.2
60.6
69.9
48.1
91.1
92.7
85.9
76.2
63.8
86.0
63.4
888
65.4
70.0
75.1
67.2

804
86.5
34.8
75.4
45.2
61.4
83.4
79.1
74.9
68.0
70.6
81.1
78.5
70 4
89.1
59.9
52.5

T he statistics in this rep o rt include 191,687 round bales for 1920; 99,668 for 1919; and 132,662 for 1918. Included in
the above are 48,268 bales of Am erican E gyptian for 1920; 23,725 for 1919; and 10,170 for 1918. The num ber of sea-island
bales included is 1,111 for 1920; 5,362 for 1919; and 25,658 for 1918.
The statistics for 1920 in this report are subject to slight co rrections. T he co rrected statistics of the q u antity of
cotton ginned this season prior to N ovem ber 4, are 8,923,474 bales.
Consum ption, Stocks, Im ports and E x p o rts—U nited S tates.
Cotton consum ed during the m onth of O ctober, 1920, am ounted to 399,837 bales. C otton on hand in consum ing es­
tablishm ents on O ctober 31 was 943,851 bales, and in public sto rag e and at com presses 4,167,992 bales. The num ber of
active consum ing cotton spindles for the m onth was 33,669,804. The to tal im ports for the m onth of O ctober, 1920, w ere 13,825 bales, and the exports of dom estic cotton, including linters, were 582,014 bales.
W orld S tatistics
The w orld’s production of com m ercial cotton, exclusive of linters, grow n in 1919 was approxim ately 19,620,000 bales
of 500 pounds net, while consum ption of cotton for year ending July 31, 1920, was approxim ately 18,451,000 bales of 500
pounds net. The total num ber of spinning cotton spindles, both active and idle, is about 154,600,000.




THE

8

M ONTHLY

BUSINESS

R EVIEW

M O V EM EN T OF SUGAR (P o u n d s)
Nov., 1920

Oct., 1920

Previous R eports
Nov., 1919

£
.5

R E C E IP T S :

<>
L

New O rleans ..................... 4,380,823
S avannah ............................. ............0

10,212,595
6,659,5/5

56,123,919
2,335,469

SH IPM EN T S :
New O rleans ..................... 3,345,211
Savannah ............................. 7,377,783

4,385,790
13,682,010

35,557,939
5,358,308

M ELTINGS:
New O rleans .................... 3,325,921
Savannah ............................. ........... 0

8,003,228
23,085,282

56,974,320

STO CKS:
New O rleans .....................
S avannah .............................

4,382,930
10,666,498

29,103,199

1,057,009
6,742,487

0

317,740

0, ”
0

Nov. 5.......... 144
Nov. 12.......... 142
Nov. 19.......... 152
Nov. 26.......... 136

Q
h

< 'T
ud
CO
F eet
379,525
394,368
469,438
308,665

2,056

F eet
242,871,920
44,905,096

13,176
2,453
10,723

287,777,016
53,575,973
234,201,043

Cars
O rders received during week..

F or th e W eek (144 M ills)

T otal
O rders

..................................................................44,905,096 ft.

A verage
Per Mill
311,841 ft.

.... ....................................................53,575,973 ft.

372,055 ft.

Production .................. ......................................57,225,546 ft.

^07
J7/ 4-00 ft11.

N orm al production these mills..............96,105,668 ft.

667,400 ft.

Shipm ents

§
<
u

bD J

b y
/3

<m

bT °
jQrt

<o
u

^ ^ n

u

^
HP
Cars
11,292
10,270
11,672
10,237

<0*

F eet
421,290
389,447
389,258
409,679

F eet
399,465
382,760
391,751
402,171

F eet
647,139
621,450
619,930
657,595

M O V EM ENT OF NAVAL STO RES FOR FOUR YEARS
R eceipts of T u rp en tin e, A pril 1—D ecem ber 9
1920-21
1919-20
1918-19
1917-18
Savannah ............................. 83,070
52,298
39,343
77,124
Jacksonville ....................... 99,151
75,669
64,166
114,091
P ensacola ............................. 43,349
31,236
24,399
50,250
225,570

STA TISTICA L R E P O R T OF TH E SOU TH ERN P IN E A S ­
SOCIATION W E E K EN DIN G D E C EM B E R 3, 1920
(144 Mills R e p o rtin g )

o

< C
V

w

159,203

D ecrease or increase for
1920-21 com pared w ith fo r­
m er years ............................... Inc. 66,367
P ercen t decrease or in ­
crease ..........................................Inc.

41.7

127,908

251,465

Inc. 97,662

Dec. 25,895

Inc.

Dec.

76.3

Receipts of Rosins, April 1-D ecem ber 9
1920-21
1919-20
1918-19
Savannah ............. ............... 264,935
162,144
150,299
296,974
Jacksonville .........
254,680
215,780
P ensacola ............. ............. 132,513
112,361
79,494

11.4

1917-18
247,252
346,982
158,224

694,422
529,185
445,573
752,458
D ecrease or increase for
1920-21 com pared w ith fo r­
mer years ............................Inc. 165,237 Inc. 248,849 Dec. 58,036
P ercen t decrease or in ­
crease ....................................Inc.
31.2 Inc.
58.5 Dec. 07.7
T urpenine S tocks Close D ecem ber 9
1920-21
1919-20
1918-19
30,937
14,039
Savannah .. ...................... 14,537
9,684
55,750
Jacksonville ....................... 24,592
4,849
37,929
P ensacola .. ....................... 10,109

1917-18
24,909
59,490
43,056

O rders below norm al pro d u ctio n ............51,200,572 ft = 53.28%
Shipm ents below production for w eek 3,649,573 ft =

6.38%

O rders below production for the w eek..12,320,450 ft = 21.53%
Orders below shipm ents for the week.. 8,670,877 ft = 16.18%
A ctual production below norm al............38,880,122 ft = 40.46%
Shipm ents below norm al production ..... 42,529,695 ft = 44.25%
D ecrease in orders on hand during
week .................................................................. 8,670,877 ft, =




3.57%

49,238
Rosin Stocks Close
1920-21
Savannah .... .................... 76,302
Jacksonville ...................... 136,939
Pensacola .... ...................... 47,624
260,865

28,572

124,626

127,455

D ecem ber 9
1918-19
1919-20
70,652
53,789
91,726
142,289
52,392
45,674

1917-18
76,078
160,231
90,439

258,615

326,748

197,907