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O f F in a n c ia l, A g r i c u l t u r a l , T r a d e a n d I n d u s t r i a l
C o n d i t i o n s in t h e S i x t h F e d e r a l R e s e r v e D i s t r i c t

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Vol. 19 No. 6

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ATLA N TA , GA., June 30, 1934

NATIONAL SUMMARY OF BUSIN ESS CONDITIONS
Prepared by Federal Reserve Board
Industrial production increased slightly in May, while fac­
tory employment and payrolls showed little change. The gen­
eral level of wholesale prices, after remaining practically un­
changed since the middle of February, advanced sharply in
the middle of June, reflecting chiefly increases in the prices
of livestock and livestock products.
Production
and
Employment

Industrial production, as measured by the
Boards seasonally adjusted index, advanced
from 86 per cent of the 1923-25 average in
April to 87 per cent in May, as compared
with a recent low level of 72 last November. Activity at steel
mills increased further from 54 per cent of capacity in April
to 58 per cent in May, while output of automobiles showed a
decline. Lumber production continued at about one-third the
1923-25 level. In the textile industries output declined some­
what, partly as a consequence of seasonal developments. At
mines coal production showed little change in volume, while
output of petroleum continued to increase.
In the first three weeks of June activity at steel mills con­
tinued at about the May level, although a decline is usual
at this season Maintenance of activity reflected in part, ac­
cording to trade reports, considerable stocking of steel. Out­
put of automobiles declined somewhat, as is usual at this
season.
Employment in factories, which usually declines slightly
between the middle of April and the middle of May, showed
little change, while employment on the railroads, in agricul­
ture and in the construction industry increased, as is usual at
this season. Increased employment was shown at manufac­
turing establishments producing durable goods, such as iron
and steel and non-ferrous metals.
Value of construction contracts awarded, as reported by
the F . W. Podge Corporation, has shown a decline in the
spring months, reflecting a reduction in the volume of con­
tracts for public projects. The volume of construction works
actually under way has increased as work has progressed on
contracts previously awarded.
140

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T h is review released fo r publication
in m orning papers of Ju n e 29.

Department of Agriculture estimates based on June 1 con­
ditions indicated unusually small crops of winter wheat and
rye and exceptionally poor conditions for spring wheat, oats,
hay and pastures, largely as a consequence of a prolonged
drought. The winter wheat crop was estimated at 400,000,000 bushels, as compared with a five-year average of 630,000,000 bushels and an exceptionally small crop of 350,000,000 bushels last season. Rains in early June somewhat im­
proved prospects for forage and grain crops not already
matured.
Distribution Total freight traffic increased in May by more
than the usual seasonal amount, reflecting a
considerable part a larger volume of shipments of miscel­
laneous products. At department stores the value of sales
showed an increase as usual at this season.
Commodity
Prices

During May and the first three weeks of June
wholesale prices of individual farm products
fluctuated widely while prices of most other
commodities showed little change. Wheat, after advancing
rapidly during May, declined considerably in the first three
weeks of June. Cotton continued to advance in the early
part of June. In the middle of the month hog prices in­
creased sharply from recent low levels. Automobile prices
were reduced in the early part of June, and copper prices
advanced.

Bank
Credit

During May and the first half of June there was
little change in the volume of Reserve Bank credit
outstanding. As a consequence of expenditure by
the Treasury of cash and deposits with the Federal reserve
banks and a growth of the country's monetary gold stock,
member bank reserve balances advanced further to a level
$1,800,000,000 in excess of legal requirements. In the week
ending June 20, however, excess reserves dropped to $1,675,000,000 reflecting an increase in Treasury deposits at the re­
serve banks in connection with June 15 tax receipts and sales
of Government securities.
Total loans and investments of reporting member banks
increased by 80,000,000 between May 16 and June 18, reflect­
ing a growth in holdings of investments other than United

mo

INIXJSTRIAL PRODUCT ION

130

130

120
10
1

120

1
00

100

10
1

90

90

80

80

70

70

60

60

SO

50

1929

1930

1931

1932

1933

1934-

In d e x n u m b e r o f in d u s t r ia l p ro d u ctio n , a d ju ste d f o r se a s o n a l v a r ia t io n .
(1923-1925 a v e r a g e = 1 0 0 . )
L a t e s t fig u r e M a y P r e lim in a r y 87.




F e d e ra l R e se rv e B o a r d ’s in d e x o f f a c to r y e m p lo y m e n t a d ju ste d f o r se a ­
s o n a l v a r ia t io n .
(1928-25 a v e r a g e = 1 0 0 .) L a t e s t fig u r e M a y 82.4.

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M O N T H L Y

PER CENT

P E R CE N T

120
11°

120
10
1

fHOLCSAL.E P R IC E .
s

100

too

90

90

00

R E V IE W

rtthflr
Commodities

-

60

70

70

A

60

60

? '
r

50

FarmF roducts

40

'
V '

30

f

40
30

30
1929

1930

193t

1932

1933

193V

Indexes of the U nited States B u reau of La b o r Statistics.
B y months
1929 to 1931; by weeks 1932 to date. (1926=100.) La te st figures Ju n e 1 6 ;
F a rm Products 63.7; Foods 70.2; Other Commodities 78.9.

W ednesday figures for reporting member banks in 90 cities.
figures are for W ednesday, Ju n e 13.

States Government securities and in open-market loans to
brokers and dealers, while loans to customers declined. Net
demand deposits increased by about $400,000,000 during the
period.
Money rates in the open market continued at low levels.
The rate on prime commercial paper declined to 3/4 1 per
cent in June, the lowest figure on record.

but less than in May last year. Employment at reporting
mills was 39.7 per cent greater than a year ago.
Production of pig iron in Alabama increased 6.3 per cent
from April to May and was greater by 168.3 per cent than in j
May, 1933, and for the five months period pig iron production
shows an increase of 277.8 per cent over that part of last
year. Production of coal in Alabama more than doubled from
April to May, and was 57.8 per cent greater than a year ago,
and Tennessee production also increased over both of those
periods.

SIXTH D ISTRIC T SUMMARY
Business statistics for the Sixth Federal Reserve District
show increases in department store sales, in wholesale trade,
in textile activity and iii the production of fcig iron and coal,
compared with A pril, and all of these series show substantial
increases over May last year except those relating to textiles.
Building permits increased over the month, but contract
awards declined, and both of these series were higher than
for May, 1933.
May sales reported by 61 department stores averaged 6.8
per cent greater than in A pril, and were 24.2 per cent greater
than in May last year. For the five months of 1934 depart­
ment store sales have been 36.5 per cent greater than in that
part of 1933. Stocks of department stores declined slightly
from April to May but were 26.9 per cent greater than a year
ago. The collection ratio rose from April to May and was
higher than for May, 1933. Sales by 99 reporting wholesale
firms in the District increased 1.3 per cent from April to May
and were 18.7 per cent greater than in May last year, and
for the five months of the year have been 44.6 per cent
greater than in that part of 1933. Bank debits to individual
accounts at twenty-six reporting cities were about the same
in May as in A pril, and were 20.4 per cent greater than a
year ago.
Total loans and investments of seventeen weekly reporting
member banks in the District declined a little more than a
million dollars from May 9 to June 13, but were 25.4 millions
greater than on the same Wednesday last year. Savings
deposits reported by 57 banks in the District increased 1.4
per cent from April to May and were 17.7 per cent greater
than a year ago, and daily average demand deposits of all
member banks in the District, although slightly less than for
April, were 37.6 per cent greater than for May, 1933.
Building permits issued during May at twenty reporting
cities increased 11.5 per cent over April and were 23.3 per
cent greater than a year ago, and contracts awarded in the
District as a whole, although 21 per cent less than for A pril,
were more than twice as large as in May last year. For the
five months of 1934, building permits have been larger by
112.2 per cent, and contract awards have been greater by
193.8 per cent, than for the corresponding period last year.
While total consumption of cotton increased from April to
May, the daily average declined somewhat, and was 16.4 per
cent less than in May a year ago when textile activity was
increasing rapidly. Production by reporting cloth and yarn
mills was, however, somewhat larger in May than in A pril,



La te st

FIN A N C E
Reserve There were further declines in holdings of disBank
counted and purchased paper by the Federal
Credit
Reserve Bank of Atlanta during the five weeks
period May 9 to June 13’, but these were more than
offset by an increase in holdings of United States securities.
Total discounts on June 13 were only $519,000, compared
with $9,547,000 on the same Wednesday last year, and hold­
ings of purchased bills were only slightly more than half as
large as a year ago. Government securities held on June 13,
however, were about 3 millions greater than five weeks
earlier, and 36.6 millions greater than a year ago. Total bills
and securities held on June 13 were larger by 2.4 millions
than on May 9, and were 27.4 millions greater than on June
14, last year.
Member bank reserve deposits declined about 5 millions
from May 9 to June 13, but were 23.6 millions greater t^ian
a year ago, and total deposits declined about 8 millions over
the five week period but were 25.1 millions greater than1at
)
the same time last year.
\
Total reserves declined about 6.5 millions between Mayl>9
and June 13, but were 3.5 millions greater than a year ago,
but Federal reserve notes of this bank's issue increased 3.\7
millions during the five week period and were 11 millions
greater than a year earlier.
I
Principal items in the weekly statement of this bank are
compared in the table below, which is followed by anothet
table setting out sim ilar comparisons for twelve Federal
Reserve Banks combined.
1
F E D E R A L R E S E R V E BA N K O F A TLA N TA
(000 Omitted)
June 13
M ay 9
1934
1934
B ills Discounted:
Secured by Govt. Obligations
A ll O th e rs..................................
To tal Discounts...............
B ills Bought in Open M a rk e t. .
U . S. Securities..............................
Other S e cu ritie s............................
To tal Bills and Securities
To tal Reserves...............................
Member Bank Reserve Deposits
To tal Deposits...................... ..
F . R . Notes in actual circulation
F . R . B ank Notes in actual cir­
culation. ......................................
Reserve R a tio ..........................

$

92
447
519
177
89,288

$

89, 98 5
135,186
73,447
83,486
135,741

228
623
851
224
86,311
200
87,587
141,681
78,406
91,484
132,043

6 1 .7 %

6 3 .4 %

June 14
1933
$

628
8,919
9,547
342
52,678
'62*567
131,734
49,888
58,349
124,715
2,195
7 2 .0 %

M O N T H L Y

FED ER A L RESERV E SYSTEM
( 0 0 0 O m itte d )
M ay 9
J u n e 13
1934
1934
B ills D isc o u n te d :
S e cu red b y G o v t. O b lig a tio n s
A ll O th e r s ...........................................
T o ta l D is c o u n ts ..................
B ill B o u g h t in O p en M a r k e t . . .
U . S . S e c u ritie s .....................................
O th e r S e c u ritie s ....................................
T o ta l B ills a n d S ecu ritie s
T o ta l R e s e rv e s ......................................
M e m b e r B a n k R e se rv e D e p o sits
T o ta l D e p o s i t s ....................................
F . R . N o te s in a c tu a l c irc u la tio n
F . R . B a n k N o te s in a c tu a l c ir­
c u la tio n .................................................
R e s e rv e R a t i o .......................................

$

6 ,0 4 7
2 1 ,8 2 9
2 7 ,8 7 6
5 ,2 0 1
2 ,4 3 0 ,4 0 6
534
2 ,4 6 4 ,0 1 7
5 ,0 4 9 ,2 1 6
3 ,8 9 5 ,1 0 8
4 ,1 9 3 ,7 9 7
3 ,0 5 4 ,4 7 9

$

S A V IN G S D E P O S IT S
( 0 0 0 O m itte d )
Ju n e 14
1933

6,277

3 0 ,2 9 7
3 6 ,5 7 4
6 ,6 5 6
2 ,4 3 1 ,8 1 8
747
2 ,4 7 5 ,7 9 5
4 ,8 4 9 ,9 6 4
3 ,6 7 7 ,8 6 3
3 ,9 9 4 ,8 7 ( 6
3 ,0 5 9 ,9 2 7

•

$

5 5 ,5 6 5
1 9 8 ,1 9 7
2 5 3 ,7 6 2
1 0 ,2 0 0
1 ,9 3 2 ,4 4 4
3 ,6 2 4
2 ,2 0 0 ,0 3 0
3 ,8 2 6 ,0 4 4
2 ,2 8 1 ,3 7 8
2 ,4 8 1 ,0 0 3
3 ,1 1 8 ,3 7 9
1 1 3 ,2 6 4
6 8 .3 %

6 6 ,2 5 2
6 8 .7 %

5 7 ,3 4 0
6 9 .7 %

Member Total loans and investments of seventeen weekly
Bank
reporting member banks located in Atlanta, BirCredit
mingham, Jacksonville, Nashville, Chattanooga,
Mobile and Savannah declined further by a little
more than a million dollars between May 9 and June 13, but
were 25.4 millions greater than on the same report date last
year. From May 9 to June 13 loans on securities increased,
but “A ll Other” loans declined, and total loans declined
$522,000. Investment holdings of United States securities
declined $1,413,000 but holdings of other securities increased
$869,000, so that total investments decreased by $544,000.
Compared with the same report date a year ago, loans on
securities on June 13 of this year show an increase of 5.9
millions, but “ A ll Other” loans a decrease of 3.9 millions, so
that total loans show a net increase of 2 millions. Holdings
of United States securities were 17.8 millions, and of other
securities 5.5 millions, greater than a year ago.
Time deposits reported by these 17 banks on June 13 were
3 millions less than five weeks earlier, and 3.6 millions greater
than a year ago, and demand deposits increased from May 9
to June 13 by about 3 millions and were 29.2 millions greater
than at the same time last year. Bankers balances declined
somewhat during the recent five weeks period but were sub­
stantially larger than a year ago.
In the tables which follow are shown comparisons of the
principal items in the weekly report, and monthly averages
of these figures over the past year, and a comparison of sav­
ings deposits reported by a list of banks located throughout
the District.
C O N D IT IO N O F M E M B E R B A N K S IN S E L E C T E D C IT IE S
( 0 0 0 O m itte d )
J u n e 13
M ay 9
J u n e 14
1934
1934
1933
LcB us:
M . S e c u ritie s ................................. ..
m
? 11 O th e r s ...........................................
T o ta l L o a n s ............................
IM S . S e c u ritie s.....................................*
CfRier S e c u ritie s ...................................
T o ta l I n v e s tm e n ts .............
T o ta l L o a n s a n d In v e s t,
m e n ts ......................................
iT im e D e p o s its ......................................
D e m a n d D e p o s its ...............................
JDue to B a n k s ........................................
'D u e fro m B a n k s ..................................
B o rro w in g s fro m F . R . B a n k . . .

$ 62
1 15
17 7
98
52
151

,0 9 5
,7 2 8
,8 2 3
,8 8 6
,5 4 4
,4 3 0

$ 6 1 ,1 5 1
1 1 7 ,1 9 4
1 7 8 ,3 4 5
1 0 0 ,2 9 9
5 1 ,6 7 5
1 5 1 ,9 7 4

329
130
171
77
77

,2 5 3
,3 9 9
,3 8 7
,6 6 9
,1 7 8
0

3 3 0 ,3 1 9
1 3 3 ,3 9 4
1 6 8 ,4 3 2
7 8 ,4 4 2
8 1 ,4 9 1
0

$

,6 4 1
,8 1 0
,0 7 7
,9 9 7
,0 7 4

303
126
142
57
61

1933
A p r il............... . $ 1 8 0 ,3 7 7
M a y ................ . 1 7 9 ,5 8 4
J ta a e ................ . 1 7 5 ,9 8 1
J u l y ................. . 1 7 6 ,9 4 6
A u g u s t.......... . 1 7 5 ,6 8 4
S e p te m b e r .. . 1 7 6 ,5 2 7
O c to b e r . . . . . 1 7 8 ,4 1 1
N o v e m b e r .. . 1 8 8 ,6 1 2
D e c e m b e r. . . 1 9 2 ,,4 9 1
1934
J a n u a r y . . . . 1 8 7 ,7 9 5
F e b r u a r y .. . . 1 8 7 ,3 5 8
M a r c h . . . . . 1 8 4 ,8 5 1
A p r il............... . 1 8 0 , 6 7 0
M a y ................ . 1 7 8 ,0 1 9

(0 0 0 O m itte d )
T o ta l
In v e s t- L o a n s a n d D e m a n d
m e n ts In v e s tm e n ts D ep o sits

T im e
D e p o s its

$ 3 0 5 ,8 6 4
3 0 7 ,4 7 5
3 1 0 ,2 2 5
3 1 5 ,4 2 1
3 2 1 ,4 6 1
3 2 6 ,2 4 4
3 2 3 ,,0 6 2
3 3 9 ,8 8 7
3 4 2 ,,6 9 0

$ 1 2 6 ,4 7 7
12 7 ,1 9 5
126 ,8 7 6
1 3 4 ,2 6 1
1 3 4 ,2 3 9
1 3 2 ,7 5 4
1 3 2 ,1 5 0
131 ,4 2 6
1 2 9 ,,0 3 3

$ 1 2 5 ,4 8 7
12 7 ,8 9 1
1 3 4 ,2 4 4
1 3 8 ,4 7 5
1 4 5 ,7 7 7
1 4 9 ,7 1 7
1 4 4 ,,6 5 1
151 ,2 7 5
1 5 0 ,,1 9 9
148
162
155
152
15 1




,3 0 5
,0 5 4
,6 0 8
,6 7 9
,1 7 2

336
349
340
333
329

,1 0 0
,4 1 2
,4 6 0
,3 4 9
,1 9 1

$ 1 3 4 ,0 9 2
1 37 ,1 6 3
141 ,9 9 3
1 40 ,5 7 0
14 1 ,8 4 2
1 4 5 ,1 6 7
141 ,8 9 4
1 4 4 ,6 0 2
1 5 2 ,,2 4 9
151
158
161
168
167

,9 3 5
,6 9 5
,7 9 4
,0 7 0
,4 0 4

130
131
130
130
132

,0 4 8
,5 0 5
,4 0 6
,6 4 9
,9 1 1

N um ber
of
B anks
A tla n ta . . .
B irm in g h a m .
J a c k s o n v ille ..
K n o x v ille ... .
N a s h v ille .. . .
N e w O rlean s.
O th e r C itie s ..
T o t a l . ..............

M ay
1934

3
3
3
3
4
3
35
54

$ 3 0 ,4 0 0
1 7 ,8 4 7
1 3 ,3 3 2
2 ,7 6 1
2 2 ,4 9 3
2 4 ,6 2 9
6 2 ,3 9 6
1 7 3 ,8 5 8

,8 8 4
,7 6 2
,2 2 9
,7 0 6
,3 3 8
713

B o rro w in g s
F ro m
F . R . B ank
$ 9 ,6 3 8
8 ,6 1 9
1 ,1 5 4
1 ,1 7 9
1 ,2 2 9
2 ,1 1 2
1 ,9 6 0
2 ,5 7 2
2 ,6 1 4
2 ,0 6 0
441
161
0
0

A p ril
1934
$ 3 0 ,0 1 1
1 7 ,7 2 6
1 2 ,9 8 9
2 ,6 6 8
2 1 ,9 2 2
2 4 ,1 5 3
6 2 ,0 5 9
1 7 1 ,5 2 8

M ay
1933
$ 2 8 ,0 1 0
1 5 ,6 1 2
1 1 ,7 0 5
1 ,3 9 5
1 9 ,4 5 5
1 7 ,4 6 2
5 4 ,0 8 4
1 4 7 ,7 2 3

P e rc e n ta g e C h a n g e
M a y 1 9 3 4 c o m p a re d
w ith
A p ril 1 9 3 4
M ay 1933

+
+
+
+
+

1 .3
0 .7
2 .6
3 .6
2 .6
+ 2 .0
+ 0 .5
+ 1 .4

+ 8 .5
+ 1 4 .3
+ 13*9
+ 9 7 .9
+ 1 5 .6
+ 4 1 .0
+ 1 5 .4
+ 1 7 .7

Debits to Total volume of debits to individual accounts at
Individual twenty-six clearing house centers of the Sixth
Accounts District declined less than one-tenth of one per
cent from April to May, but was 20.4 per cent
greater than in May last year. Declines from April to May
occurred at ten of the twenty-six reporting cities. Monthly
totals in the table are derived from weekly reports by pro­
rating figures for those weeks which do not fall entirely
within a single calendar month.
( 0 0 0 O m itte d )
M ay 1934

A p ril 1 9 3 4

M ay 1933

$ 1 1 7 ,6 9 2
7 2 ,0 6 6
1 ,6 3 0
2 3 ,5 2 4
2 0 ,4 7 2

$ 1 1 2 ,4 0 1
6 9 ,6 9 7
1 ,7 8 9
2 1 ,6 7 9
1 9 ,2 3 6

$ 9 0 ,9 2 1
5 4 ,4 3 0
2 ,1 2 1
1 9 ,8 5 8
1 4 ,5 1 2

F lo rid a — 4 C itie s ..............................
Ja c k s o n v ille ....................................

1 0 3 ,4 7 3
5 4 ,5 3 5
2 0 ,4 4 0
5 ,6 5 1
2 2 ,8 4 7

1 0 7 ,1 8 9
5 3 ,9 8 0
2 4 ,4 7 0
5 ,8 9 4
2 2 ,8 4 5

8 2 ,9 2 1
4 4 ,2 9 9
1 6 ,6 3 1
4 ,4 0 6
1 7 ,5 8 5

G eorgia— 10 C itie s ..........................

B ru n sw ic k ........................................
C o lu m b u s .........................................

1 9 8 ,3 3 5
2 ,1 8 3
1 2 9 ,8 2 8
1 5 ,2 6 9
2 ,0 7 5
9 ,4 3 6
652
1 0 ,4 5 2
1 ,3 0 4
2 4 ,2 6 6

2,870

1 9 4 ,5 0 8
2 ,1 1 4
1 2 5 ,9 8 2
1 6 ,6 6 1
1 ,9 3 3
9 ,3 2 5
651
1 0 ,0 1 6
1 ,3 9 2
2 3 ,“ 5 5
8
2 ,5 7 9

1 6 6 ,0 3 9
1 ,8 7 0
1 0 5 ,1 0 8
1 2 ,9 3 8
1 ,5 2 3
7 ,3 5 6
517
9 ,0 6 5
1 ,3 1 0
2 3 ,8 2 9
2 ,5 2 3

L o u isian a— N ew O rle a n s ............

1 7 1 ,2 2 0

1 7 6 ,3 2 8

1 5 8 ,6 9 8

M ississippi— 4 C itie s .....................
H a ttie s b u r g .....................................

3 4 ,3 1 8
3 ,4 3 9
1 8 ,8 1 0
7 ,3 4 8
4 ,7 2 1

3 5 ,3 1 1
3 ,4 4 3
2 0 ,4 2 8
7 ,0 6 8
4 ,3 7 2

2 5 ,0 1 2
2 ,7 8 3
1 2 ,0 0 8
6 ,5 6 7
3 ,6 5 4

T en n essee— 3 C itie s ........................
C h a tta n o o g a ...................................

1 0 9 ,9 3 0
2 6 ,1 5 9
1 8 ,8 9 7
6 4 ,8 7 4

1 0 9 ,7 8 2
2 6 ,9 2 3
1 9 ,9 2 2
6 2 ,9 3 7

8 6 ,8 7 7
2 1 ,3 9 5
1 3 ,4 2 6
5 2 ,0 5 6

T o ta l— 2 6 C itie s ...............

$ 7 3 4 ,9 6 8

$ 7 3 5 ,5 1 9

$ 6 1 0 ,4 6 8

A lab a m a— 4 C itie s ..........................
B irm in g h a m ...................................
M o n tg o m e ry ..................................

56 ,1 6 9

119
1 75
81
46
128

M O N T H L Y A V E R A G E S O F W E E K L Y F IG U R E S O F
17 R E P O R T I N G M E M B E R B A N K S I N S E L E C T E D C I T I E S

Loans

S

R E V IE W

A G RICU LTU RE
The June 1st crop report issued by the United States De­
partment of Agriculture indicates a sharp decline in crop
prospects, heavy losses of early crops and, for this time of
the year, a record low condition of pastures and low levels
of milk and egg production. The winter wheat crop is fore­
cast at 400,357,000 bushels, a reduction in prospects of
61,000,000 bushels, or 13 per cent, during the month of May.
“ Oats, barley and rye w ill all be short crops, for all show a
heavy loss of acreage and exceptionally low condition for this
season of the year.” The report points out that “the records
for June in past years show nothing comparable with the sit­
uation this year. The June 1 condition of oats is 47.2 per
cent, whereas the lowest in past years was 78.3 per cent re­
corded for 1928. The condition of tame hay is 53,9 per cent,
and the lowest previously recorded was 76.0 per cent in 1926.
. . . Some 19 states, including all states from Ohio to Nevada,
show the lowest June condition of pastures and hay on record
in those states and most of them also show the lowest condi­
tion of spring grains on record. . . . Winter wheat, with a
condition of 55.9 per cent, is below all previous records, the
nearest being 62.0 per cent in 1885.”

4

M O N T H L Y

In contrast to the drought over a large part of the coun­
try, therfe has been excessive'rainfall in Georgia during the
last half of May and the first half of June, and some parts
of Florida have had too much rain. Some localities in Florida
report losses of crops from heavy rains, but the condition of
field crops generally showed improvement over the month
before. Prospects for citrus fruits declined during May but
are still better than last year. A heavy drop was reported
on both oranges and grapefruit. Farm work and crop
progress in Georgia were backward on June 1 because of the
late spring, cool temperatures and frequent excessive rains.
Deficient rainfall in Tennessee, and periods of unseasonably
cool weather, have injured pastures, hay crops and small
grains.
The June 1 estimates indicate a peach crop in the six states
of this District larger by an average of 41.1 per cent than in
1933; state estimates compared with 1933 production are
shown in the table.
P E A C H C R O P — Bushels
Estim ate
1933
June 1, 1934
Production
Alabam a..........................................
Flo rid a ............... .............................
Georgia.......................... .................
Louisiana_____ _________ ___________
M i s s i s s i p p i . .. .. ...........................
Tennessee........................................
T o ta l.................... ..

1,155,000
69,000
6,290,000
277,000
814,000
2,170,000
10,775,000

Percent
Change

908,000
57,000
5,440,000
158,000
494,000
580,000

+ 27.2
+ 21.1
+ 15.6
+ 75.3
+ 64.8
+ 274.1

7,637,000

+ 41.1

The June 1 condition of apples was reported much higher
than a year ago in Louisiana, but lower in the other states
of the District, and production of pears is estimated to be
larger than a year ago in all six states.
S U G A R M O V E M E N T — (Pounds)
R a w Sugar
M ay 1934
April 1934
Receipts:
New O rlean s....................... ..
176,958,264
Savannah....................................
28,532,808
Meltings:
New O rleans.. ........................... 118,813,637
13,338,453
Savannah........ .................. ........
Stocks:
New Orleans............... ............... 185,007,575
S a v a n n a h ....................... ..
90,960,611
Refined Sugar
Shipments:
New Orleans.............................. 142,606,221
Savannah................... .............. 29,725,170
Stocks:
New Orleans................. ............. 46,593,449
Stocks...................................... ..
9,735,247

150,470,039
22,965,805

165,675,869
22,573,443

97,025,004
18,528,614

140,367,299
45,241,372

127,385,614
106,154,966

60,245,430
83,040,260

84,855,622
17,922,077

126,736,966
43,868,249

60,361,221
9,445,862

47,829,385
25,700,737

R IC E M O V EM EN T— N EW O RLEA N S
April 1934
Rough Rice— Barrels:
M ay 1934
35,258
Receipts.....................................
1,658
17,743
38,592
Shipments.................................
41,932
25,847
S to c k s ..................................
Clean R ice— Pockets:
Receipts........ ................. ..
Shipm ents............................
Stocks........................................

36,890
56,750
157,995

M ay 1933

M ay 1933
40,177
31,180
25,602

55,486
51,634
177,855

63,639
53,998
181,233

R E V IE W

R I C E M I L L E R S A S S O C IA T IO N S T A T I S T I C S
(B a rre ls)
R e c e ip ts o f R o u g h R ic e :
M ay
A u g u st t o M a y In c .
S easo n 1 9 3 3 - 3 4 ..........................................
9 1 ,3 2 8
7 ,2 9 0 ,0 0 9
S easo n 1 9 3 2 - 3 3 ..........................................
6 2 7 ,7 2 8
8 ,8 8 5 ,3 6 8
S easo n 1 9 3 1 - 3 2 ..........................................
7 0 3 ,2 2 7
9 ,1 5 0 ,0 7 8
D is trib u tio n o f M ille d R ic e:
S easo n 1 9 3 3 - 3 4 . . .................................... .................... 4 1 6 , 9 9 0
S easo n 1 9 3 2 - 3 3 .................... ........................................8 2 1 , 1 5 5
S easo n 1 9 3 1 - 3 2 ......... .................................................. 6 9 7 , 8 1 7

6 ,6 8 4 ,1 5 6
8 ,6 6 2 ,6 8 6
8 ,5 5 1 ,4 1 7

S to ck s:
R ough
M a y 3 1 , 1 9 3 4 ...............................................
M a y 3 1 , 1 9 3 3 ..............................................
M a y 3 1 , 1 9 3 2 ................... ..................

1 ,4 2 0 ,5 0 2
1 ,0 4 5 ,2 8 8
1 ,3 1 2 ,7 4 4

C le an
4 7 5 ,1 1 1
6 0 4 ,2 6 3
5 1 1 ,8 6 8

Fertilizer There was a further substantial seasonal decline
Tag Sales in sales of fertilizer tax tags in the six states
located wholly or partly in the Sixth District
from April to May, after reaching in March the highest total
for any month in four years. May tax tag sales were 36 per
cent less than in May last year, but for the ten months
period, August to May, total sales in these states have been
36.7 per cent greater than in that part of the season before.
Figures compared in the table are from those compiled by
the National Fertilizer Association.
M ay
1934
A l a b a m a ..................................
F lo r id a ........................................
G e o rg ia .......................................
L o u isia n a .................................
M is siss ip p i...............................
T e n n e s s e e . . . . . . .................
T o t a l ................. ..........

1 0 ,9 5 0
4 0 ,9 5 4
684
1 ,4 6 4
1 0 ,1 6 2
1 4 ,3 7 2
7 8 ,5 8 6

(S h o r t T o n s )
A p ril
M ay
1934
1933
1 2 2 ,0 5 0
3 3 ,6 1 0
9 5 ,0 7 3
1 3 ,3 5 3
4 0 ,1 8 0
3 0 ,3 7 3
3 3 4 ,6 3 9

A u g u st 1 t o M a y 3 1
1933-34
1932-33

2 6 ,4 0 0
3 1 ,3 4 7
4 1 ,1 1 2
1 ,5 0 0
8 ,3 7 7
1 3 ,8 1 9

3 6 6 ,3 5 0
3 6 9 ,8 5 6
5 5 9 ,8 5 1
7 9 ,6 4 5
1 7 6 ,9 4 2
8 8 ,9 2 9

2 7 0 ,3 5 0
3 3 8 ,1 4 0
3 8 3 ,6 2 0
5 2 ,8 5 8
8 2 ,6 8 2
7 3 ,3 6 5

1 2 2 ,5 5 5 1 ,6 4 1 ,5 7 3 1 ,2 0 1 ,0 1 5

TRA D E
Retail There was an increase of 6.8 per cent in total sales
Trade in May, reported by 61 department stores in the
Sixth District, compared with A pril, and May sales
were 24.2 per cent greater than a year ago. On a daily aver­
age basis, May sales were 1.1 per cent less than in April
which was shorter by two business days. The increases over
May last year, as indicated in the table, range from 14.7 per
cent at New Orleans to 40.7 per cent at Miami. For the five
months of 1934 total sales by these 61 reporting firms have
been 36.5 per cent greater than in that part of 1933. In May
cash sales accounted for 43.9 per cent of the total, compared
with 44.2 per cent in A pril, and with 43.6 per cent in May,
1933.
Stocks declined 2.4 per cent from April to May, but were
26.9 per cent greater than a year ago, and the rate of stock
turnover was the same for the month of May this year and
last, but was higher for the five months period. The co lla ­
tion ratio rose from April to May, and was also higher than
a year ago. For regular accounts the ratio for May was 35.2
per cent, for April 33.6 per cent, and for May a year ago
29.8 per cent, and for installment accounts the ratio for May
was 15.4 per cent, for A pril ’16.5 per cent, and for May last
year 15.3 per cent.
These comparisons are based upon reports in actual dollar
amounts and make no allowance for changes in the level of
prices.

R E T A I L T R A D E I N T H E S I X T H D I S T R I C T D U R I N G M A Y 1934
Based on confidential reports from 61 department stores
Com parison o f NOT S a l r s
Com parison o p S to c k s
Y ear to
M ay 31, 1934
S tock T u r n over
M a y 1934
date with
with:
with:
Same period Same month Previous
M ay
Jan. to M ay
Same month Previous
last year
a year ago
Month
1934
1933
1934
1933
M onth
a year ago
Atlanta ( 6 ) . .........
Birmingham (6) .
Chattanooga (4 ).
Jacksonville ( 3 ) ..
Knoxville (3 )_____
M iam i (3 ).............
Nashville (4 )........
New Orleans (5 )..
Other Cities (27).
D I S T R I C T (61).
NOTE:

+
+
+
+
+
+
+
+
+
+

25.1
29.1
27.3
17.3
33.3
40.7
2 1.0
14.7
25.8
24.2

+ 1 5 .6
+ 1 4 .3
+ 1 6 .6
+ 1 1 .7
+ 2 3 .7
— 18.1
+ 1 8 .2
— 3 .0
+ 5.5
+ 6 .8

+ 3 2 .6
+ 4 2 .2
+ 4 7 .9
+ 3 2 .7
+ 4 4 .5
+ 5 1 .7
+ 2 6 .7
+ 3 2 .2
+ 3 4 .0
+ 3 6 .5

+ 3 1 .2
+ 4 .4
+ 1 1 .4
+ 1 5 .8

— 7.1
— 0 .9
— 14.3
— 6 .4

.38
.34
.28
.19

+52^2
+ 2 3 .0
+ 3 5 .6
+ 3 1 .9
+ 2 6 .9

+
—
+
—
—

!34
.28
.25
.27
.29

1.80
1.47
1.34
.89

•••

2 .2 3
1.23
1.16
1.31
1.40

1.65
1.11
1.04

A pril
1934

M ay
1933

29 0
36.3
32.2

27.1
3 8 .8
3 3 .4

2 5 .9
22.1
2 6 .6

29.7
40 .2
2 9 .8
3 1.7

27.2
36 .0
2 6.4
2 8.3

.. ..
•••

3 .1
1.5
1.4
0 .9
2 .4

T h e rate of sto c k tu rn o v e r is the ra tio of sales d u rin g giv e n period to average stocks on hand.




.41
.27
.28

C o l l e c t io n R a t io
M ay
1934

.28
.26
.28
.29

l ’ii
.
.96
1,16
1.15

30.8
40 .2
31.3
3 2.7

M O N T H L Y

Wholesale May sales by 99 reporting wholesale firms in the
Trade
Sixth District increased 1.3 per cent over A pril,
and were 18.7 per cent greater than in May last
year, and for the five months of 1934 have been 44.6 per cent
greater than in that part of 1933. Stocks also increased
slightly over the month and were 32 per cent greater than a
year ago, and the collection ratio declined from April to May
but was 25 per cent higher than for May last year. Reported
figures are compared in the table.
W H O LESA LE T R A D E IN M A Y 1934
S ix th F e d e ra l R e s e rv e D is tric t*
P e rc e n ta g e C o m p a ris o n s
M a y 1 9 3 4 w ith : J a n .— a y 1 9 3 4 In c .
M
N um ber
A p ril
M ay
w ith sam e
of F irm s
1934
1933
p e rio d la s t y e a r
A ll L in e s C o m b in ed :
S a le s .................. ..........................
S to c k s . .......................................
G roceries
S a le s ............... .............................
J a c k s o n v ille .................
N e w O rle a n s ................
V ic k s b u rg ......................
O th e r C it ie s .................
S to c k s .........................................
D r y G o o d s:
S a le s .............................................
N a s h v ille ........................
O th e r C it ie s .................
S to c k s .........................................
H a rd w a re :
S a le s .............................................
N a s h v ille ........................
N e w O rle a n s ................
O th e r C itie s .................
S to c k s ..........................................
F u r n itu r e :
S a le s ..................................... ......
A t l a n t a ............................
O th e r C itie s .................
S to c k s .........................................
E le c tric a l S u p p lie s:
S a le s ............................. ...............
N e w O rle a n s ................
O th e r C itie s .................
S to c k s ..........................................
D ru g s:
S a le s .............................................
S ta tio n e ry :
S a le s .............................................

+ 1 8 .7
+ 3 2 .0

99
30

+
+

1 .3
2 .2

23
4
5
3
11
3

+
+
+
+
+

6 .7
5 .0
2 .3
6 .3
1 2 .3
5 .7

+
+
+
+
+
+

15
3
12
7

— 1 2 .5
— 1 2 .0
— 1 2 .6
4- 3 .1

+
+

0 .6
7 .1
1 .0
4- 8 0 . 1

+ 5 1 .6
+ 4 3 .1
+ 5 3 .8

26
3
5
18
9

+
+
+

2 .5
1 0 .7
1 0 .2
3 .3
— 2 .2

+ 2 4 .1
+ 1 5 .4
+ 3 4 .6
+ 2 0 .6
+ 1 0 .6

+
+
+
-f

9
4
5
6

— 5 .1
+ 1 1 .5
— 9 .2
+ 1 1 .1

+
+
+
+

13
4
9
3

1 9 .9
1 7 .9
1 5 .6
2 5 .5
2 3 .2
3 8 .4

+ 4 4 .6
+
+
+
+
+

3 8 .4
2 6 .1
4 2 .2
6 0 .1
3 5 .8

5 0 .2
3 0 .2
5 3 .2
5 3 .1

+

+ 9 2 .2
+ 6 0 .1
+ 1 0 5 .6

0 .7
5 .3
0 .9
1 7 .1

+
+

3 5 .6
2 1 .2
4 0 .6
2 4 .5

+ 2 7 .5
+ 1 7 .7
+ 3 1 .2
+ 6 2 .1

+ 3 7 .4
+ 3 9 .1
+ 3 6 .8

8

+

6 .3

+ 2 0 .9

+ 3 1 .5

—

3 .5

7 .4

+ 3 5 .9

C O L L E C T IO N R A T IO * *
N um ber
M ay
of F irm s
1934
G ro c e rie s.........................................
D ry G o o d s ....................................
H a r d w a r e .......................................
F u r n i t u r e ......................................
E le c tric a l S u p p lie s ...................
D r u g s ................................................

11
8
15
6
4
4

T o t a l . ...........................
_____. *

48

6 8 .9
3 7 .8
3 6 .0
3 4 .0
6 2 .9
2 9 .3

3

A p ril
1934

4 6 .8

M ay
1933
5 6 .1
3 2 .6
2 6 .3
2 2 .9
2 8 .2
2 9 .2
36
_____. 0

* B a s e d o n o a n fid e n tia l r e p o rts fro m 9 9 firm s.
** T h e colli 9 S o n r a tio is th e p e rc e n ta g e of a c c o u n ts a n d n o te s rece iv ab le
o u ts ta n i K a t th e b eg in n in g of t h e m o n th w h ich w ere co llected d u rin g
th e m o n th .

Life
May sales of new, paid-for, ordinary life insurInsurance ance in the six states located wholly or partly in
the Sixth District were only slightly larger than
in A pril, and about 31 per cent greater than in May last
year, and for the five months of 1934 have been 23.6 per cent
greater than in that part of 1933. Figures compared in the
table are from those compiled by the Life Insurance Sales
Research Bureau.
( 0 0 0 O m itte d )
J a n u a r y to M a y In c .
M ay
1934
1933
1933

M ay
1934

A p ril
1934

A lab a m a
F lo r id a .............
G e o rg ia ............
L o u isia n a ___
M is siss ip p i.. .
T e n n e s se e . . .

$ 4 ,1 2 6
5 ,0 1 9
8 ,2 8 5
5 ,1 8 5
2 ,7 9 2
6 ,4 9 0

$ 4 ,6 7 2
5 ,5 9 7
7 ,4 9 7
5 ,2 9 2
2 ,6 2 4
6 ,1 3 0

$ 3 ,6 2 1
3 ,5 8 3
5 ,7 8 5
4 ,0 2 2
2 ,3 0 5
5 ,0 9 8

$ 1 8 ,8 2 8
2 3 ,0 8 7
3 4 ,2 8 0
2 2 ,1 5 1
1 1 ,9 9 5
3 0 ,1 6 4

$ 1 6 ,4 3 2
1 6 ,9 0 9
2 6 ,8 1 1
1 8 ,3 6 1
8 ,8 8 5
2 6 ,2 3 6

+ 1 4 .6
+ 3 6 .5
+ 2 7 .9
+ 2 0 .6
+ 3 5 .0
+ 1 5 .0

T o ta l...

3 1 ,8 9 7

3 1 ,8 1 2

2 4 ,4 1 4

1 4 0 ,5 0 5

1 1 3 ,6 3 4

+ 2 3 .6

P e rc e n t
C h an g e

Commercial Statistics compiled and published by Dun and
Failures
Bradstreet, Inc., indicate that in the Sixth Dis­
trict there were only 19 business failures dur­



ing May, compared with 76 in April and with 90 in May last
year, and liabilities involved in May failures amounted to
only $180,998, compared with $1,016,110 for April, and with
$2,570,666 for May, 1933. The May figures this year, both
number and liabilities, are the smallest for any month in
available records.
In the United States there were 977 failures in May, 1,052
in A pril, and 1,909 in May last year, and liabilities for May
were $22,560,835, compared with $25,786,975 for A pril, and
$47,971,579 for May a year ago.
G R A IN E X P O R T S — N E W O R L E A N S
M ay
A p ril
M ay
1934
1934
1933

(B u sh els)
J u ly 1 to M a y 31
1933-34
1 9 32-33

W h e a t.........................................
C o r n .............................................
O a ts ..............................................

1 5 ,7 7 5
3 ,2 4 1
6 ,6 8 8

3 ,2 0 0
2 5 ,3 4 7
8 ,9 2 1

1 0 ,1 0 1
2 1 ,7 5 2
1 8 ,1 2 7

1 3 3 ,4 5 7 1 ,1 7 6 ,9 5 6
1 0 3 ,0 9 1 1 , 1 9 4 , 5 1 5
1 2 9 ,9 3 0
3 5 3 ,4 8 2

T o t a l ............................

2 5 ,7 0 4

3 7 ,4 6 8

4 9 ,9 8 0

3 6 6 ,4 7 8 2 ,7 2 4 ,9 5 3

IN DUSTRY
Building The value of permits issued during May at twenty
Permits reporting cities in the Sixth District for the con­
struction of buildings within their corporate limits
increased further by 11.5 per cent over the month before and
was 23.3 per cent greater than a year ago. Twelve cities re­
ported gains over A pril, and there were also twelve increases
over May last year. For the five months of 1934 total per­
mits at these reporting cities have amounted to $9,384,221,
an increase .of 112.2 per cent over the total for the same part
of 1933, and 24.6 per cent greater than for the corresponding
period in 1932. Comparisons for the month are shown in the
table.
N um ber
M ay
1933

A la b a m a
A n n is to n ..............
B irm in g h a m . . .
M o n tg o m e ry . • •
F lo rid a
J a c k s o n v ille .. . .

7 4 .7
4 1 .7
3 5 .0
3 2 .2
7 3 .3
2 9 .0

4 5 .0

5

1934

3

+

R E V IE W

M ia m i B e a c h . .
G eo rg ia
C o lu m b u s ............
S a v a n n a h ............
L o u isian a
N e w O r le a n s .. .
A le x a n d ria .. . . .
T e n n essee
C h a t ta n o o g a .. .
Jo h n so n C i t y .. .
K n o x v ille .............
N a s h v ille .............
T o ta l 2 0 C ities

10
399
57
115

8
147
33
80

522
426
92
45
221

478
308
61
45
168

328
31
64
294
28

1934
$

V alu e
M ay

2 ,6 0 0
5 5 ,9 4 1
3 0 ,3 8 8
2 2 ,6 9 9

$

1933

P e rc e n ta g e
C h a n g e in
V alu e

1 ,4 0 0
4 8 ,3 2 5
2 4 ,7 2 0
8 1 ,0 3 6

+
+
+
—

8 5 .7
1 5 .8
2 2 .9
7 2 .0

1 1 9 ,2 2 1
1 8 8 ,9 1 6
5 9 6 ,3 6 5
1 6 ,7 6 2
6 5 ,5 7 1

1 1 3 ,4 8 0
1 1 1 ,2 4 9
3 7 6 ,6 2 0
1 9 ,4 7 4
4 6 ,9 7 5

+
+
+
—
+

5 .1
6 9 .8
5 8 .3
1 3 .9
3 9 .6

202
41
39
136

1 9 6 ,7 1 6
8 ,7 3 2
3 5 ,0 6 2
5 8 ,7 0 1
1 7 ,1 1 0

8 2 ,0 9 7
1 4 ,5 5 9
2 2 2 ,0 6 2
3 4 ,4 2 6
1 7 ,9 9 7

+ 1 3 9 .6
— 4 0 .0
— 8 4 .2
+ 7 0 .5
— 4 .9

115
81

103
66

1 1 0 ,5 8 3
1 3 .8 7 4

1 5 9 ,5 4 0
1 6 .1 7 9

— 3 0 .7
— 1 4 .2

300
3
48
127

72
2
32
127

4 7 ,0 1 2
4 ,3 0 0
2 2 9 ,9 0 2
6 3 ,7 3 3

2 9 ,0 7 4
600
6 0 ,8 2 9
6 7 ,5 2 7

+ 6 1 .7
+ 6 1 6 .7
+ 2 7 7 .9
— 5 .6

3 ,3 0 6

2 ,1 4 8

$ 1 ,8 8 4 ,1 8 8

$ 1 ,5 2 8 ,1 6 9

+ 2 3 .3

Contract The value of building and construction contracts
Awards awarded in the Sixth District, indicated in statis­
tics compiled by the F . W. Dodge Corporation and
subdivided into district totals by the Federal Reserve Board's
Division of Research and Statistics, declined further by 21
per cent from April to May, but was double the total for
May last year. Residential contracts declined over the month*
by a much smaller percentage than other classes of contracts,
and while residential contracts were 2.6 per cent less than in
May last year, “A ll Others” were greater by 171.4 per cent.
State totals for this District show declines from April to
May except in Eastern Tennesseee where May awards were
more than double those of A pril, and increases over May,
1933, were recorded for all six states. For the five months of
1934, the District total was larger by 193.8 per cent, and all
state totals were larger than for that part of 1933.
In the 37 states east of the Rocky Mountains total awards
in May increased 2.4 per cent over those in A pril, and were
74.2 per cent greater than a year ago, and for the five

6

M O N T H L Y

months total awards have been $727,301,000, greater by 120.5
per cent than in that part of last year. Comparisons for the
month are shown in the table.
M ay
1934

A p ril
1934

S ix th D is tr ic t— T o t a l ...................... $ 1 0 , 4 7 3 , 8 8 6
2 ,0 5 7 ,1 2 0
R e s id e n tia l. . . . ........... ...................
A ll O t h e r s . . . ........... ................
8 ,4 1 6 ,7 6 6

$ 1 3 ,2 5 2 ,0 8 4
2 ,1 5 3 ,3 9 0
1 1 ,0 9 8 ,6 9 4

M ay
1933
$ 5 ,2 1 3 ,9 5 6
2 ,1 1 3 ,0 8 8
3 ,1 0 0 ,8 6 8

S ta te T o ta ls :
A la b a m a ...............................................
F lo r id a ...................................................
G e o r g ia .................................................
L o u is ia n a ...........................................
M is s is s ip p i..........................................
E . Tennessee.............................

1 ,5 2 8 ,3 0 0
2 ,1 9 7 ,9 0 0
2 ,5 3 8 ,4 0 0
2 ,7 4 3 ,8 0 0
1 ,2 3 3 ,4 0 0
1,597,000

1 ,8 3 6 ,0 0 0
4 ,1 0 0 ,2 0 0
3 .3 8 7 .4 0 0
2 .7 8 8 .4 0 0
2 ,5 3 2 ,9 0 0
6 6 8 ,9 0 0

3 5 2 ,3 0 0
1 ,7 2 3 ,0 0 0
1 ,0 7 9 ,5 0 0
6 1 2 ,8 0 0
2 4 8 ,6 0 0
1 ,4 9 4 ,8 0 0

U n ite d S ta te s :
T o t a l ........................................... ..........
R e s id e n tia l.........................................
N o n - R e s id e n tia l.............................
P u b lic W o rk s a n d U tilitie s .. .

1 3 4 ,4 4 5 ,7 0 0
2 4 ,8 4 7 ,2 0 0
5 2 ,7 9 7 ,2 0 0
5 6 ,8 0 1 ,3 0 0

1 3 1 ,3 2 9 ,5 0 0
2 2 .6 8 5 .7 0 0
3 8 .7 3 6 .7 0 0
6 9 ,9 0 7 ,1 0 0

7 7 .1 7 1 .7 0 0
2 6 .5 1 9 .7 0 0
3 1 ,6 3 9 ,4 0 0
1 9 ,0 1 2 ,6 0 0

Lumber During the six weeks ending June 9 production, or­
ders and unfilled orders reported by m ills to the
Southern Pine Association averaged less than for correspond­
ing weeks of last year when substantial improvement was
indicated. For the six weeks period orders booked by re­
porting mills averaged about 5 per cent larger than their
production, but were 40 per cent less than orders booked at
the same time a year ago. Production during this period
averaged 15.4 per cent, and unfilled orders averaged 12.3 per
cent, less than during the corresponding period last year.
Weekly figures are compared in the table.
W e ek
Ended
M ay
M ay
M ay
M ay
June
Ju n e

(I n T h o u s a n d s of F e e t)
N um ber
O rd e rs
P r o d u c tio n
of M ills 1 9 3 4
1933
1934
1933

5 .........................7 9
1 2 .............. ........9 6
1 9 .............. ........9 0
2 6 .............. ........9 9
2 .........................8 2
9 ................. ........9 2

1 7 ,9 4 9
1 9 ,8 7 7
2 4 ,8 3 4
2 0 ,4 4 9
1 9 ,1 0 4
2 0 ,8 0 4

2 6 ,0 8 3
3 5 ,2 0 2
3 3 ,7 3 1
4 1 ,9 6 7
3 4 ,9 3 1
3 4 ,3 7 4

1 8 ,3 7 9
2 1 ,3 9 4
2 0 ,2 0 4
2 2 ,0 5 4
1 5 ,7 4 3
1 9 ,6 6 6

1 9 ,3 0 0
2 4 ,1 5 2
2 3 ,2 8 0
2 5 ,0 4 0
2 2 ,1 3 1
2 4 ,9 7 1

U nfilled O rd e rs
1934
1933
6 3 ,5 9 8
7 2 ,1 9 1
7 5 ,3 5 0
7 7 ,6 4 9
6 2 ,4 6 2
6 9 ,8 9 9

6 2 ,8 8 4
7 5 ,3 6 7
7 7 ,2 0 8
9 1 ,6 4 0
8 1 ,3 8 5
9 1 ,6 6 8

Cotton
Consumption of cotton by American M ills inConsumption creased 1.4 per cent from April to May, but
was 16.2 per cent less than in May last year.
At this time a year ago total consumption of cotton increased
31.9 per cent from April to May and rose further in June to
the highest level in available records, but declined during the
balance of the year except for a small increase from Septem­
ber to October. In the cotton states May consumption was
2.5 per cent larger than in A pril, but in other states there
was a decrease of 3 per cent. Because of the longer month,
however, daily average consumption in May was smaller by
6.1 per cent for the country as a whole, 5.1 per cent in the
cotton states and 10.2 per cent in other states, than in April.
For the ten months of the cotton season total consumption
has been 2.9 per cent larger than in that part of the season
before.
May exports declined 26.3 per cent from A pril, and were
51.9 per cent less than in May, 1933, and for the season to
date total exports have been 4.8 per cent smaller than in the
game part of the previous season.
Consumption and exports for the season to date have been
1.7 per cent smaller than a year earlier. Spindles active in
May were 2.1 per cent fewer than in A pril, but 5.2 per cent
more numerous than a year ago. Census Bureau figures are
compared in the table.
U N I T E D S T A T E S — B ales
M ay
A p ril
1934
1934
C o tto n C o n s u m e d ..............................
S to c k s .........................................................
I n C o n su m in g E s ta b lis h m e n ts
I n P u b lic S to ra g e a n d a t
C o m p re ss e s ...................................
E x p o r t s ................................................
A c tiv e S p in d le s— N u m b e r . . .




M ay
1933

5 1 9 ,7 6 5
7 ,9 9 2 ,0 8 7
1 ,4 2 1 ,4 2 3

5 1 2 ,7 0 3
8 ,6 8 6 ,6 8 7
1 ,5 8 4 ,7 4 6

6 2 0 ,5 6 1
8 ,7 1 5 ,3 5 5
1 ,3 9 2 ,2 0 9

6 ,5 7 0 ,6 6 4
2 8 4 ,7 6 4
2 5 ,8 9 1 ,3 6 6

7 ,1 0 1 ,9 4 1
3 8 6 ,5 9 4
2 6 ,4 5 0 ,7 5 0

7 ,3 2 3 ,1 4 6
5 9 1 ,6 4 7
2 4 ,6 0 9 ,9 0 8

R E V IE W

C O T T O N G R O W IN G S T A T E S — B ales
M ay
A p ril
1934
1934
C o tto n C o n s u m e d ..............................
4 1 6 ,9 1 1
4 0 6 ,6 7 8
S to c k s ...................................................
7 ,3 3 9 ,6 0 8
7 ,9 8 8 ,9 4 4
I n C o n su m in g E s ta b lis h m e n ts
1 ,0 9 8 ,9 4 5
1 ,2 3 3 ,1 1 5
I n P u b lic S to ra g e a n d a t
C o m p re sse s ...................................
6 ,2 4 0 ,6 6 3
6 ,7 5 5 ,8 2 9
A c tiv e S p in d les— N u m b e r . . .
1 7 ,6 7 1 ,2 1 0
1 7 ,9 4 7 ,5 0 6

M ay
1933
5 1 3 ,9 5 4
7 .9 5 5 .0 1 1
1 ,1 0 4 ,0 0 0
6 .8 5 1 .0 1 1
1 7 ,1 9 4 ,4 6 6

O T H E R S T A T E S — B ales
C o tto n C o n s u m e d ...............................
S to c k s ....................................................
I n C o n su m in g E s ta b lis h m e n ts
I n P u b lic S to ra g e a n d a t
C o m p re sse s.............................
A c tiv e S p in d les— N u m b e r . . .

102,854
652,479
322,478

106,025
697,743
351,631

1 0 6 ,6 0 7
7 6 0 ,3 4 4
2 8 8 ,2 0 9

330,011
8,220,156

346,112
8,503,244

4 7 2 ,1 3 5
7 ,4 1 5 ,4 4 2

Consumption of cotton in the three states of this District
for which Census Bureau figures are compiled separately in­
creased 4.1 per cent, but daily average consumption declined
3.6 per cent, from April to the longer month of May, and
May consumption was 16.4 per cent less than a year ago.
For the ten months of the season consumption in Georgia
has been 7.1 per cent larger, but in Alabama and Tennessee
somewhat smaller, than during that part of the season before.
C O T T O N C O N S U M P T I O N — B ales
A p ril
M ay
M ay
A u g u st 1 to M a y 3 1
1934
1934
1933
1933-34
1932— 3
3
A la b a m a ....................
5 6 ,1 4 2
5 4 ,0 1 1
G e o r g ia ......................
9 7 ,1 1 5
92,928
T e n n e s s e e ................. 1 1 ,9 8 9
1 1 ,8 1 3
T o t a l ............

1 6 5 ,2 4 6

6 7 ,8 1 3
1 1 5 ,0 7 3
1 4 ,8 8 5

1 5 8 ,7 5 2

5 1 1 ,0 0 1
9 2 2 ,4 0 1
1 0 4 ,3 8 1

1 9 7 ,7 7 1

1 ,5 3 7 ,7 8 3

5 2 8 ,5 8 9
8 6 1 ,3 6 1
1 2 5 ,9 3 6
1 ,5 1 5 ,8 8 6

Cotton
Production at both cloth and yam mills in
Manufacturing the Sixth District reporting for May in­
creased somewhat over A pril but was less
than a year ago, but a slight increase in employment at cloth
mills was more than offset by a decrease at yarn m ills so
that total employment at reporting m ills declined slightly
over the month but was about 40 per cent greater than a
year ago. Orders reported by yam mills increased, but those
received by cloth m ills declined, over the month, and both
show decreases compared with May last year when produc­
tion, orders and employment were rising rapidly. Reported
figures are compared in the table.
N um ber
of
M ills
C o tto n C lo th :
P r o d u c tio n ..........................................
O rd e rs B o o k e d .................................
U n filled O r d e r s ..................... ..
S to c k s o n h a n d ................................
N u m b e r o n p a y r o ll.......................
C o tto n Y a m :
P r o d u c tio n ................................. ..
O rd e rs B o o k e d .................................
U nfilled O rd e rs ................................
S to c k s o n h a n d ................................
N u m b e r o n p a y r o l l. ....................

P e rc e n ta g e ch a n g e
M a y 1 9 3 4 c o m p a re d
w ith
A p ril 1 9 3 4
M ay 1933

18
18
14
16
16
16

+
—
—
—
+
+

1 0 .9
1 .4
3 3 .1
1 1 .7
1 5 .6
0 .1

—
—
—
—
+
-h

6 .8
3 5 .5
7 4 .7
2 8 .8
4 1 .5
3 4 .3

11
11
7
9
10
10

+
3 .1
0 .1
+ 3 2 .8
— 8 .7
-f 6 .4
— 1 .6

+
—
—
—
+
+

5 .8
2 3 .1
4 9 .8
1 9 .6
4 5 .3
5 5 .3

+

Cotton Seed
There was a further seasonal decline in
and Cotton
operations at cotton seed oil mills in the
Seed Products Sixth District during May, compared with
earlier months of the season. For the ten
months of the season receipts and crushings of seed, and
production of crude oil, cake and meal, and hulls were smaller
than for the season before. There was a small increase in
production of linters. Stocks of seed, and of cottonseed prod­
ucts, at the end of May were smaller than a year ago. Cumu­
lative totals of Georgia, Alabama, Louisiana, and Mississippi
are compared in the first two columns of the table, and totals
for the United States as a whole are compared in the last
two columns. The figures are from those compiled by the
United States Census Bureau.

M O N T H L Y

COTTO N SEED AND COTTON SEED PRO D U CTS
S ix th D is tric t*
U n ite d S ta te s
A ug. 1 to M a y 3 1
A ug. 1 to M a y 31
1 9 33-34
1932-33
1933 -3 4
1932-33
C o tto n S eed, T o n s:
R e c e iv e d a t M i l l s . . .
C r u s h e d ...........................
On H and, M ay 3 1 ..

1 ,1 8 5 ,9 6 6
1 ,0 8 9 ,7 4 3
1 2 4 ,9 9 3

1 ,3 0 0 ,7 5 6
1 ,2 1 8 ,5 7 0
1 2 9 ,0 9 2

4 ,0 6 2 ,8 0 3
3 ,9 6 4 ,2 9 4
3 1 8 ,9 3 0

4 ,4 4 0 ,9 1 5
4 ,2 9 2 ,1 5 0
4 4 7 ,7 5 9

P ro d u c tio n :
C ru d e O il, lb s.............. 3 5 6 , 2 1 2 , 1 6 9 3 9 3 , 0 2 5 , 0 3 2
C a k e a n d M e a l, to n s
4 7 4 ,0 6 3
5 2 9 ,8 7 6
H u lls , t o n s ....................
2 9 7 ,4 2 3
3 5 0 ,3 8 9
L in te rs , B a le s ..............
2 1 4 ,6 4 2
2 1 2 ,2 7 3

1 ,2 4 1 ,4 0 8 ,3 0 0
1 ,8 0 1 ,3 7 0
1 ,0 5 6 ,1 9 2
7 5 9 ,4 9 1

1 ,3 3 9 ,2 5 6 ,4 6 3
1 ,9 4 1 ,9 1 6
1 ,2 2 1 ,8 8 8
6 8 1 ,5 8 1

S to ck s a t M ills, M a y 3 1 :
1 2 ,3 1 6 , 3 3 5
C ru d e O il, lb s ..............
C ak e a n d M e a l, to n s
8 0 ,1 9 5
H u lls , t o n s ....................
1 4 ,1 8 5
L in te rs , B a le s ..............
4 2 ,8 3 7

2 0 ,7 1 6 ,3 4 5
5 6 ,3 8 2 ,1 7 4
5 3 ,5 5 7 ,6 5 9
8 5 ,3 0 0
2 1 9 ,7 4 8
2 0 5 ,6 0 9
2 7 ,7 2 5
5 7 ,2 0 1
8 7 ,0 2 9
5 2 , 9 5 3 ________ 1 3 3 , 0 1 3 ________ 1 7 2 , 2 9 5

* G e o rg ia , A la b a m a , L o u isia n a a n d M ississip p i.

Electric Production of electric power by public utility power
Power
plants in the six states located wholly or partly in
the Sixth District declined 8.8 per cent in April,
compared with the longer month of March, but was 10.5 per
cent greater than in A pril, 1933, and for the first four months
of 1934 was 11.4 per cent greater than in that part of last
year. Production by use of water power, which in April ac­
counted for 65.9 per cent of the total, declined 5.9 per cent
over the month, while output by use of fuels decreased 14 per
cent. For the four months of 1934 production by use of
water power accounted for 61.2 per cent of the total, com­
pared with 66.6 per cent during the same period a year ago.
Figures in the table are from those compiled by the* United
States Geological Survey.
P R O D U C T IO N O F E L E C T R I C P O W E R ( 0 0 0 k . w . H o u rs )
A p ril 1 9 3 4
M a rc h 1 9 3 4
A p ril 1 9 3 3
A la b a m a ....................................................
F lo r id a ........................................................
G e o r g ia ......................................................
L o u isia n a ..................................................
M is siss ip p i...............................................
T e n n e s se e .................................................

1 2 8 ,3 8 0
5 6 ,4 4 8
9 2 ,8 5 7
7 6 ,8 2 4
3 ,8 8 1
1 1 0 ,9 8 9

T o t a l . .........................................

4 6 9 ,3 7 9

5 1 4 ,8 5 0

4 2 4 ,8 0 6

B y u se o f : W a te r P o w e r ...............
3 0 9 ,1 4 1
F u e ls .................................
1 6 0 ,3 2 8
F u e ls co n su m e d in P ro d u c tio n
o f E le c tric P ow er:
C oal— terns....................................
1 0 ,0 2 4
F u e l Oil— b b ls ............................
1 9 9 ,1 5 0
N a tu r a l G as— 0 0 0 cu . f t . . .1 , 6 2 8 , 2 6 2

3 2 8 ,4 7 3
1 8 6 ,3 7 7

2 8 4 ,3 3 3
1 4 0 ,4 7 3

1 1 ,0 9 4
2 1 7 ,5 5 5
1 ,8 6 4 , 7 0 5

9 ,3 3 0
1 8 4 ,6 8 4
1 ,4 0 1 ,9 3 1

N o te :

1 4 0 ,7 9 2
6 3 ,6 9 2
1 0 7 ,4 6 4
9 3 ,3 6 4
3 ,9 0 9
1 0 5 ,6 2 9

1 0 4 ,8 7 8
4 9 ,5 1 8
1 1 7 ,5 8 7
7 0 ,3 7 1
3 ,8 8 7
7 8 ,5 6 5

A p ril figures p re lim in a ry — M a rc h figures slig h tly rev ise d .

Bituminous Production of bituminous coal in the United
Goal Mining States increased 13.4 per cent from April to
the longer month of May, and was 25 per cent
greater than in May last year. Average daily production in­
creased 3.9 per cent over April. For the first five months of
1934 total production has been 30.3 per cent larger than in
that period a year ago. Preliminary figures for May are com­
pared in the table.
T o ta l
P ro d u c tio n
(T o n s)
M a y 1 9 3 4 ................................................. ....2 8 , 1 0 0 , 0 0 0 p
A p ril 1 9 3 4 .....................................................2 4 , 7 7 2 ,0 0 0 r
M a rc li 1 9 3 4 . . . . ................................... ....3 8 , 4 9 7 , 0 0 0
M a y 1 9 3 3 ................................................. ....2 2 , 4 8 8 , 0 0 0
p — P re lim in a ry ,

N u m b e r of
W o rk in g
D ays
2 6 .4
2 4 .2
27
2 6 .4

A v erag e p e r
W o rk in g D a y
(T o n s)
l,0 6 4 ,0 0 0 p
l,0 2 4 ,0 0 0 r
1 ,4 2 6 ,0 0 0
8 5 2 ,0 0 0

r — R e v ise d .

Pig Iron
Total production of pig iron in the United States
Production increased 18.3 per cent from April to May, and
was greater than in May, 1933, by 130.2 per
cent, according to figures published by the Iron Age. Daily
average production increased 14.5 per cent over the month,
and was higher than for any other month since April, 1931.
The number of furnaces active on June 1 was 116, compared
with 110 a month earlier, and was also the largest since
A pril, 1931.
Alabama production of pig iron increased 6.3 per cent from
April to May and was 168.3 per cent greater than in May
last year. The daily average, however, increased over the
month by 2.9 per cent, and was the largest since July, 1931.
The number of furnaces active remained at 10, the same as
for the previous five months, compared with 2 active a year
ago. Press reports indicate that books for third quarter iron
were opened June 1 at $14.50 per ton, the price which has
prevailed since the middle of A pril, but buying is not active
because foundries were well stocked with iron purchased be­
fore the increase. May deliveries were much better than
those of April. Spot orders are mostly routine, and small.
Cumulative totals for the United States for the five months
of 1934 amount to 7,868,180 tons, greater by 147.7 per cent
than in that part of 1933 and 73.3 per cent greater than in
the same period of 1932, and in Alabama production from
January to May has amounted to 607,824 tons, 277.8 per cent
greater than production for the same period in 1933 and 53.2
per cent greater than in that part of 1932. Comparisons for
the month are shown in the table.
P ro d u c tio n — T o n s
T o ta l
D a ily A v erag e
2 ,0 4 2 ,8 9 6
1 ,7 2 6 ,8 5 1
8 8 7 ,2 5 2

6 5 ,9 0 0
5 7 ,5 6 1
2 8 ,6 2 1

116
110
48

A lab a m a:
M ay 1 9 34 . . .
A p ril 1 9 3 4 . . .
M ay 1 9 3 3 . ..

1 3 0 ,3 6 4
1 2 2 ,5 9 1
4 8 ,5 8 3

4 ,2 0 5
4 ,0 8 6
1 ,5 6 7

10
10
2

* F ir s t o f follow ing m o n th .

Naval There was a further seasonal increase in receipts
Stores of both turpentine and rosin at the three principal
naval stores markets of the Sixth District from April
to May, but receipts of turpentine were 23.8 per cent, and
those of rosin 11.3 per cent, less than in May last year.
Stocks of turpentine declined 8.4 per cent, but supplies of
rosin increased 2.9 per cent, over the month, and stocks of
both commodities were considerably smaller than a year
earlier. Demand for both commodities has continued unsatis­
factory and on June 9 price of turpentine on the Savannah
market was 47 V cents per gallon, and the average of quota­
2
tions for the thirteen grades of rosin was $4.66 per 280
pounds. Both of these quotations were the lowest since Janu­
ary. Receipts and stocks are compared in the table.
NAVAL STORES
M ay 1934
R e c e ip ts— T u r p e n tin e ( 1 )

T e n n essee
1933

1934
W e ek E n d e d :
M a y 5 ....................................
M a y 1 2 .................................
M a y 1 9 .................................
M a y 2 6 .................................
J u n e 2 .......... ........................




1933

1934

2 0 6 ,0 0 0
2 2 3 ,0 0 0
2 2 1 ,0 0 0
2 1 7 ,0 0 0
2 0 6 ,0 0 0

1 3 9 ,0 0 0
1 3 7 ,0 0 0
1 3 5 ,0 0 0
1 3 6 ,0 0 0
1 3 3 ,0 0 0

7 1 ,0 0 0
7 7 ,0 0 0
7 2 ,0 0 0
7 6 ,0 0 0
7 2 ,0 0 0

5 3 ,0 0 0
5 4 ,0 0 0
5 3 ,0 0 0
5 3 ,0 0 0
5 9 ,0 0 0

A p ril 1 9 3 4

M ay 1933

J a c k s o n v ille ....................................

1 1 ,8 3 5
9 ,3 4 8
3 ,4 7 5

8 ,0 8 9
7 ,2 2 8
1 ,9 9 8

1 4 ,8 1 9
1 3 ,8 7 8
3 ,6 6 2

T o t a l .........................................

2 4 ,6 5 8

1 7 ,3 1 5

3 2 ,3 5 9

Ja c k s o n v ille ....................................

4 7 ,6 2 5
4 0 ,2 9 1
9 ,9 8 9

3 4 ,4 1 1
2 9 ,4 7 7
5 ,6 0 8

4 9 ,5 3 2
5 0 ,6 2 4
1 0 ,2 9 4

T o t a l .........................................

9 7 ,9 0 5

6 9 ,4 9 6

1 1 0 ,4 5 0

J a c k s o n v ille ....................................

3 ,3 9 6
2 1 ,9 9 1
1 7 ,1 8 3

5 ,0 5 9
2 3 ,8 1 3
1 7 ,5 9 3

1 0 ,3 8 3
4 0 ,9 5 0
1 5 ,7 7 5

T o t a l .........................................

4 2 ,5 7 0

4 6 ,4 6 5

6 7 ,1 1 7

Ja c k s o n v ille ....................................

8 9 ,7 7 3
5 8 ,3 2 3
1 2 ,9 0 5

8 3 ,9 0 3
6 2 ,8 9 0
9 ,6 5 4

1 1 0 ,8 6 1
1 0 3 ,5 8 9
1 2 ,5 7 2

T o t a l . ......................................

1 6 1 ,0 0 1

1 5 6 ,4 4 7

2 2 7 ,0 2 2

S to ck s— T u rp e n tin e (1 )

(T o n s)
A la b a m a

F u rn a c e s
A ctiv e*

U n ite d S ta t e s :
M ay 1934. ..
A p ril 1 9 3 4 . . .
M ay 1 9 33 . . .

R e c e ip ts— R o sin (2 )

Weekly figures for the five weeks ending June 2 indicate
that production of coal in Alabama more than doubled in
May as compared with April when output was reduced by
strikes during a part of that month, and was 57.8 per cent
greater than a year ago, and Tennessee production also in­
creased from April to May and was 35 per cent greater than
in corresponding weeks of last year.

7

R E V IE W

S to ck s— R o sin (2 )

(1 )
(2 )

B a rre ls o f 5 0 G allo n s.
B arrels of 5 0 0 P o u n d s.

8

M O N T H L Y

R E V IE W

MONTHLY IN D EX NUMBERS COMPUTED B Y FED ER A L R ES ER V E BAN K OF ATLAN TA
M O N T H L Y A V E R A G E 1923-1925=100

D E P A R T M E N T S T O R E T R A D E — S IX T H D IS T R IC T

M arch
1934

A p r il
1934

M ay
1934

M a rc h
1933

A p r il
1933

M ay
1933

D a ily Average S a le s— U n a d ju s te d
A tla n ta ...................................................................................................
Birm ingham ............................................ ................. ............................
Chattanooga............................................................... ..........................
N ashville........................................................................ ..
New Orleans.................................................. .......................................
D I S T R I C T ...........................................................................................

166.0
6 9.2
69.3
80.9
64.9
8 4.4

145.8
62.1
64.5
81.0
75.3
83.0

155.3
64.0
69.6
88.7
67.6
82.8

104.9
42.3
34.6
48.7
35.7
49.6

115.1
48.4
4 8.7
66.4
5 7.4
64.8

123.0
51.8
54.7
73.3
59.0
67.9

D a ily Average Sa le s— A d ju ste d *
A tlanta....................................................... ...........................................
Birm ingham .................. . . . . .........................................................
Chattanooga.........................................................................................
N ashville.......................... ................................ ..........................
New Orleans..........................................................................................
D I S T R I C T .......... ................................................................. ...............

167.7
68.5
72.9
84.3
67.6
* 88.1

142.9
65.4
67.2
83.5
74.6
83.8

147.9
6 3.4
67.6
79.9
69.7
82.0

112.8
44.5
38.9
54.1
3 9 .7
53.9

106.6
47.9
47*7
64.5
53.6
61.7

117.1
51.3
53.1
66 .0
60.8
6 7.2

M o n th ly S to c k s— U n a d ju s te d
A tlanta.................. . . . . .......... ............................ ................................
Birm ingham ......... ........................................................ ..
Chattanooga................................ ................................................. ..
N ashville............... ................................................................................
New Orleans. . . . .................................................................... ..
D I S T R I C T ................... .................................................................

90.2
37.4
45.0
65.5
58.8
58.7

97.6
35.2
51.7
68.9
59.6
60.8

9 0.8
35.2
44.3
67.9
60.5
64.5

7 1.8
37.2
37.9
53.6
51.5
50.4

72.8
38 .4
37.8
57 .2
48.6
49.8

68.5
37.5
39.7
55.2
46.9
48.3

M o n th ly S to c k s— A d ju ste d *
A tla n ta .................................... ...................................................... ..
B irm ing ham ...................................................................................
Chattanooga................................ .......................................................
N ashville................. ................................................. ............................
New Orleans.........................................................................................
D I S T R I C T .......... ! . . ........................................... ..............................

88.4
36.7
42.5
64.2
56.6
57.0

93.0
33.5
49.2
66.3
57.3
57.9

89.9
34.5
43.4
67.2
59.9
63.2

70.2
36.5
35.8
52.5
49.5
48.9

69.3
36.6
36.0
55.0
46.7
47.4

67.8
36.8
38.9
54.7
46.4
47.4

W H O L E S A L E T R A D E — S IX T H D IS T R IC T — T O T A L ..
Groceries..................................... ..........................................................
D ry Goods.............................................................................................
H ardw are.............................................................. ............................
Fu rnitu re .................................. ......................................................
Electrical Supplies............................................................ ..
Statio nery.............................................................................................
D rugs.............................. ........................................................................

60.0
53.6
70.8
57.6
56.6
63.1
38.9
80.9

56.0
45.9
62.6
57.9
54.1
77.8
39.3
71.5

56.7
49.0
54.8
59.3
51.3
78.4
37.9
78.0

38.2
38.9
4 1.8
35.5
22.4
33.0
27.1
57.0

41.8
36.5
48.1
38.1
27.9
70.5
25.7
56.2

47.9
41.2
54.5
47.8
40.4
61.1
34.0
62.9

L I F E IN S U R A N C E S A L E S — S I X S T A T E S - T O T A L . . .
A labam a.................................................................................................
Flo rid a..................... ..............................................................................
Georgia...................................................................................................
Louisiana.................................. ................. ....................... .............
M ississippi.............................................................................................
Tennessee...............................................................................................

67.6
52.8
78.4
71.4
73.4
58.6
67.8

75.8
68.9
94.6
81.7
83.5
60.0
65.1

76.0
60.8
84.8
90.3
81.8
63.9
69.0

53.2
49.6
57.6
61.2
47.9
31.1
58.9

59.6
49.8
59.8
64.4
69.1
46.3
61.7

59.6
54.7
62.2
65.7
63.7
53.6
55.6

B U IL D IN G P E R M I T S —T W E N T Y C I T I E S ........................
A tlanta ................ ................................ ..................................................
Birm ingham ..........................................................................................
Jacksonville...................... ...................................................................
N ashville...................................... ........................................... ............
New Orleans..........................................................................................
Fifteen Other C itie s........................... ............................................. ..

13.7
8.1
4 .9
19.4
21.5
5 .0
18.0

15.0
6 .4
6 .0
35.3
6 .5
34.3
13.3

16.7 .
12.7
3 .8
14.5
10.0
8 .6
24.4

6 .2
3.3
3.1
7 .6
12.4
5 .7
7.1

7 .3
5.6
2.9
7 .2
11.2
8.1
8.3

13.6
5 .3
3 .3
13.8
10.6
12.4
19.3

C O N T R A C T A W A R D S— S IX T H D IS T R IC T — T O T A L .
Residential.............................................................................................
A ll Others......................................................................................

57.8
13.8
87.2

37.8
15.8
52.7

29.8
14.7
40.0

11.3
12.3
10.6

7 .7
10.1
6.1

14.9
15.1
14.7

W H O L E S A L E P R I C E S — U N IT E D S T A T E S f
A L L C O M M O D IT IE S ....................................................................
Farm Products.................................................. ..................................
Foods.......................................................................................................
Other Commodities............................................................. ..
Hides and leather products.....................................................
Textile products..........................................................................
Fuel and lighting......................................................... ...............
M etals and metal products............ .........................................
Building materials..................................... . ..........................
Chemicals and drugs..................................................................
Housefurnishing goods.........................................................
Miscellaneous...............................................................................

73.7
61.3
67.3
78.5
88.7
76.5
71.4
87.1
86.4
75.7
81.4
69.3

73.3
59.6
66.2
78.6
88.9
75.3
71.7
87.9
86.7
75.5
81.6
69.5

73.7
59.6
67.1
78.9*
87.9
73.6
72.5
89.1
87.3
75.4
82.0
69.8

60.2
4 2.8
54.6
65.8
68.1
51.3
62.9
77.2
70.3
71.2
72.2
58.9

60.4
44.5
56.1
65.3
. 69.4
51.8
61.5
76.9
70.2
71.4
71.5
57.8

62.7
50.2
59.4
66.5
76.9
55.9
60.4
77.7
71.4
7 3.2
71.7
58.9

C O T T O N C O N S U M P T IO N — U N IT E D S T A T E S ..............
Cotton-Growing States......................................................................
A ll Other States...................................................................................
Georgia..........................................................................................
Alabam a.......................................................................................
Tennessee......................................................................................

105.6
125.4
66.2
130.8
160.7
117.7

99.6
118.8
61.4
119.3
157.1
118.7

100:9
121.8
59.6
124.6
163.3
120.5

6 6 .2
120.7
4 7.4
115.2
152.6
117.2

91.3
113.6
4 7.2
107.7
147.2
123.0

120.5
150.1
61.8
147.7
197.3
149.6

C O T T O N E X P O R T S — U N IT E D S T A T E S ...........................

107.1

75.3

55.5

95.0

85.0

115.2

P I G IR O N P R O D U C T IO N — United States..........................
Alabam a....................................

54.2
53.8

57.8
52.8

68.4
56.1

18.1
12.0

20.9
13.3

29.7
20.9

♦ A d ju ste d fo r Se a so n al V a ria tio n ,




fC o m p ile d b y B u re a u o f L a b o r S tatistics.

1926

100.

•