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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 itio n s in th e S ix th F e d e ra l R e s e r v e D is t r ic t

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Vol. 19 No. 5

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T h is re v ie w r e le a s e d f o r p u b lic a tio n
in a f t e r n o o n p a p e r s o f M ay 3 0 .

Following the extended drought in important grain areas,
the Department of Agriculture forecast of the winter wheat
crop was reduced from 492,000,000 bushels on April 1, to
461,000,000 bushels on May 1. This compares with a five
year average for 1927-1931 of 632,000,000 bushels. The con­
dition of rye, hay, and pastures has also been adversely af­
fected by the drought.
Distribution Railroad freight-car loadings declined in April
as compared with March, and in the first half
of May there was a smaller than seasonal increase in total
loadings. The April decline was largely the result of a sub­
stantial decrease in coal shipments from the relatively large
volume of March. Department store sales showed little change
from March to A pril, after allowance is made for difference
in the number of business days, for usual seasonal changes,
and for changes in the date of Easter. Sales continued larger
than a year ago.
Commodity The general level of wholesale commodity prices,
Prices
as measured by the Bureau of Labor Statistics
index, has shown little change during the past
three months. Prices of grains, cotton, silk, and silver, which
declined sharply in April, rose during the first three weeks
of May. Rubber prices advanced sharply until early in May
but subsequently declined somewhat, and prices of textile
products declined during recent weeks. Steel scrap has de­
clined since March, while finished steel products, automobiles,
non-ferrous metals, and building materials advanced. Cattle
and beef prices rose during April and the early part of May,
while prices of hogs declined.
Bank Excess reserves of member banks remained at a level
Credit of about $1,600,000,000 between the middle of April
and the middle of May. There were no considerable
changes in monetary gold stock or in money in circulation.
The total volume of reserve bank credit also showed little
change.
At reporting member banks in leading cities in the five
weeks ending May 16 there were decreases of about $240,000,000 in loans and of $80,000,000 in investments, the latter
reflecting a decrease in holdings of securities other than
those of the United States Government. Net demand and
time deposits increased by nearly $200,000,000, while United

PERCENT

1929
In d e x n u m b e r o f in d u s t r ia l p rod u ction , a d ju ste d fo r se a so n a l v a r ia t io n ,
L a t e s t fig u re A p r i l P r e lim in a r y 85.

Digitized (1923-1925 a v e r a g e = 1 0 0 .)
for FRASER


B

A TLAN TA, GA., May 31, 1934

NATIONAL SUMMARY OF BUSIN ESS CONDITIONS
Prepared by Federal Reserve Board
Volume of manufacturing production increased during
A pril, while the output of mines declined. Employment and
payrolls continued to increase. The general level ^of com­
modity prices remained substantially unchanged during April
and the first three weeks in May, although prices of indi­
vidual commodities showed considerable changes.^
Production
Production of manufactures, which had inand
creased continuously since last November,
Employment showed a further advance in A pril, according
to the Board’s seasonally adjusted index, while
output of mines was smaller in April than in March. The
Board’s combined index of industrial production remained
practically unchanged at 85 per cent of the 1923-1925 aver­
age. The growth in manufacturing reflected increases in iron
and steel, automobiles, and meat packing. Lumber produc­
tion declined in A pril, and activity at wool and silk mills was
considerably reduced, while cotton consumption by mills
showed little change. Crude petroleum output continued to
increase, but there was a more than seasonal decline at the
beginning of April in the mining of both anthracite and
bituminous coal. During the first two weeks of May steel
operations increased further, but declined somewhat in the
third week. Output of automobiles decreased considerably
in May.
Volume of employment and wage payments continued to
increase in April, and employment in factories, according to
the new index of the Bureau of Labor Statistics, was larger
than at any time since the end of 1930. There was a sub­
stantial seasonal increase in the number of workers employed
in private construction as well as in those engaged in projects
financed by the Public Works Administration. Employment
on railroads, in metal mining and quarrying, and in various
service activities also increased further, while in coal mining
there was a considerable decrease.
Construction contracts awarded during A pril, as reported
by the F . W. Dodge Corporation, were smaller in value than
during March. There was a substantial decline in public
works contracts, while contracts for privately financed
projects showed a slight increase in April.
PE C 1
R EN

E

1930

1931

1932

1933

1934

In d e x e s o f the U n it e d S ta te s B u r e a u o f L a b o r S t a t is t ic s .
B y m o n th s
1929 to 1931 ; b y w eeks 1932 to date. (1 9 2 6 = 1 0 0 .) L a t e s t fig u re s M a y 12 ;
F a r m P r o d u c t s 60.5; F o o d s 67.3; O th e r C o m m o d itie s 79.1.

L

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2

M O N T H L Y

I n d e x e s o f d a ily a v e ra g e v a lu e o f s a le s .

(1 9 2 3 - 1 9 2 5 = 1 0 0 .)

States Government deposits were reduced by about
000,000.
Short term money rates in the open market continued at
low levels during May and yields on United States Treasury
Bonds declined further to the lowest levels of the post-war
period.
SIXTH DISTRICT SUMMARY
April business statistics for the Sixth Federal Reserve Dis­
trict show further gains in the volume of life insurance sales,
in building permits issued at reporting cities, and in the daily
average consumption of cotton and production of pig iron,
and in employment at reporting cotton mills, but there were
seasonal declines in trade at both retail and wholesale, and
coal mining, and the volume of building and construction con­
tracts awarded also declined. All of these series, however,
continue to show substantial increases over the correspond­
ing period a year ago with the exception of the production of
coal, which was reduced substantially during part of April
not only because of seasonal influences, but also by a strike
in some Alabama mines.
After increasing in March to the highest level in two and
one-half years, department store sales in this district declined
14 per cent from March to April, but were 27.2 per cent
greater than in April last year. On a daily average basis,
the decrease from March to April was 7.1 per cent. After
adjustment for the different number of business days in the
month, the usual seasonal changes and the varying date of
Easter, the adjusted sales index declined 2.7 per cent from
March to April. For the months of March and April com­
bined department store sales show a gain of 47 per cent over
those months last year, and for the first four months of 1934
the increase over that part of 1933 was 40.4 per cent. Whole­
sale trade declined 6.7 per cent from March to April, but was
33.8 per cent greater than a year ago, and for the first four
months of the year the increase was 52.9 per cent. Life In­
surance sales increased 12.1 per cent over March, and were
31.9 per cent greater than in April, 1933, and for the first
four months of the year have been 21.7 per cent greater than
a year ago.
Total loans of weekly reporting member banks in selected
cities of the district declined 2.1 millions, and holdings of
Government securities declined 2 millions, from Apirl 11 to
May 9, but holdings of Other Securities increased 3.6 mil­
lions, so that total loans and investments of these banks show
a net decrease of 1.6 millions for the four week period, but
were 22.4 millions greater than a year earlier. Time deposits
were 6.1 millions, and demand deposits 30.7 millions, greater
than a year ago. Savings deposits reported by 54 banks in­
creased 2.4 per cent over the month and were 17.6 per cent
greater than at the same time last year. Reserve bank credit
declined slightly between April 11 and May 9, but was 10.5
millions greater than a year ago, and member bank reserve
deposits on May 9 were 35.8 millions greater than on the
Digitized forWednesday in 1933.
same FRASER


R E V IE W

W e d n e s d a y fig u r e s f o r r e p o r t i n g m e m b e r b a n k s in
fig u re s a r e f o r W e d n e s d a y , M a y 1 6 .

90

c itie s .

L a te s t

Building permits issued at twenty reporting cities in the
district increased 9.5 per cent from March to A pril, and were
more than double the total for A pril, 1933, but building and
construction contracts awarded in the district as a whole de­
clined about 35 per cent from the March total but were
nearly five times as large as for A pril last year.
Daily average production of pig iron in Alabama increased
slightly over March and was about four times as large as in
A pril, 1933. Daily average consumption of cotton increased
1.5 per cent from March to April and was 8.1 per cent greater
than a year ago. Employment at reporting cotton mills in
the district increased 2.1 per cent in April over March and
was 59.2 per cent greater than in A pril, 1933.
FIN A N C IA L
Reserve During the four weeks period between April 11 and
Bank
May 9 there was a small net decline in the volume
Credit
of discounts by the Federal Reserve Bank of At­
lanta, holdings of bills bought in the open market
declined further by 522 thousands, but holdings of United
States securities increased by 66 thousand. During this
period other securities were purchased in the amount of 200
thousands of dollars, and on May 9 total outstanding reserve
bank credit was less by 274 thousands, than four wefcks
earlier. Compared with the corresponding Wednesday a
year ago, total discounts on May 9 were 20.8 millions less,
holdings of purchased paper 6.5 millions less, but holdings
of United States Government securities were 37.7 millions
greater. Total bills and securities were 10.5 millions greater
on May 9 than a year ago.
From April 11 to May 9 member bank reserve deposits de­
clined about 8.3 millions but they were 27.4 millions greater
than a year earlier. Outstanding Federal reserve notes of
this bank’s issue increased 3.5 millions during this recent four
weeks period, having risen nearly 12 millions since the last
of January, but were slightly less than a year ago.
Principal items in the weekly statement of this bank are
compared in the table immediately below, which is followed
by another table setting out similar comparisons for the
twelve Federal Reserve Banks combined.
F ED ER A L R ESER V E BA NK OF ATLANTA
(0 0 0 O m itte d )
M ay 9
A p ril 11
1934
1934
B ills D isco u n te d :
S ecu 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 ills 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 s e rv e D e p o s its
T o ta l D eposi t s ......................................
F . R . N o te s in a c tu a l circ u la tio n
F . R . B a n k N o te s in a c tu a l cir­
c u la tio n .................................................
R e serv e R a t i o ........................................

$

228
623
851
224
8 6 ,3 1 1
200
8 7 ,5 8 7
1 4 1 ,6 8 1
7 8 ,4 0 6
91 , 4 8 4
1 3 2 ,0 4 3
.................
6 3 .4 %

M ay 10
1933

$

222
647
869
746
8 6 ,2 4 5

$

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

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

1 ,2 5 4
6 7 .5 %

926
6 0 .7 %

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

M O N T H L Y

1934

FED ER A L R ESER V E SYSTEM
( 0 0 0 O m itte d )
M ay 9
A p ril I I
1934
1934
B ills D is c o u n te d :
6 ,2 7 7
S ecu red b y G o v t. O b lig a tio n s $
3 0 ,2 9 7
A ll O th e r s ............................................
3 6 ,5 7 4
T o ta l D is c o u n ts ...................
6 ,6 5 6
B ills B o u g h t m O p en M a r k e t . .
2 ,4 3 1 ,8 1 8
U . S. S e c u ritie s .....................................
747
O th e r S e c u ritie s ...................................
2 ,4 7 5 ,7 9 5
T o ta l B ills a n d S ecu ritie s
4 ,8 4 9 ,9 6 4
T o ta l R e s e rv e s ........................... ..
M e m b e r B a n k R e s e rv e D e p o sits
3 ,6 7 7 ,8 6 3
T o ta l D e p o s its ......................................
3 ,9 9 4 ,8 7 6
F . R . N o te s in a c tu a l c irc u la tio n
3 ,0 5 9 ,9 2 7
F . R . B a n k N o te s in a c tu a l cir­
6 6 ,2 5 2
c u la tio n .................................................
R e s e rv e R a t i o .......................................
6 8 .7 %

$

M ay 10

9 ,2 7 6
3 3 ,9 7 5
4 3 ,2 5 1
1 7 ,0 5 9
2 ,4 3 1 ,9 7 9
562
2 ,4 9 2 ,8 5 1
4 ,6 4 5 ,5 9 6
3 ,5 6 0 ,0 2 5
3 ,7 3 7 ,7 4 8
3 ,0 2 5 ,8 1 2

$

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

8 8 ,3 3 6
6 8 .7 %

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 )
M ay 9
A p ril 11
M ay 10
1934
1934
1933
$ 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

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

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

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

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

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

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 IN G M E M B E R B A N K S IN S E L E C T E D C IT IE S

Loans
1933
M a r c h ........... . $ 1 8 2 ,3 3 4
A p r il............... . 1 8 0 , 3 7 7
. 1 7 9 ,5 8 4
M a y ...........
J u n 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 cto b e r
. 1 7 8 ,4 1 1
Digitized N o v FRASER1 8 8 , 6 1 2
for e m b e r.. .
D e c e m b e r .. . 1 9 2 ,4 9 1
http://fraser.stlouisfed.org/

( 0 0 0 O m itte d )
T o ta l
I n 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 e p o s its
$ 1 2 2 ,2 0 5
1 2 5 ,4 8 7
1 2 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
1 5 1 ,2 7 5
1 5 0 ,1 9 9

Federal Reserve Bank of St. Louis

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

F e b r u a r y .. . .

1933

Member Total loans and investments of seventeen weekly
Bank
reporting member banks located in Atlanta, BirCredit
mingham, Jacksonville, Nashville, Chattanooga,
Mobile and Savannah declined by approximately 1.6
millions of dollars from April 11 to May 9, but were 22.4
millions greater than on the same Wednesday a year ago.
Between April 11 and May 9 there were declines of 3.1 mil­
lions in total loans, and 2 millions in holdings of United
States securities, but these were partly offset by an increase
of 3.6 millions in holdings of Other Securities.
Time deposits increased 2.5 millions during this recent four
week period, but there was a small decrease in demand de­
posits, and bankers’ balances, represented by amounts “ Due
to Banks” and “ Due Prom Banks” in the table below, also
declined.
Compared with the corresponding report date a year ago,
a decrease of 1.5 millions in loans was much more than offset
by increases of about 17 millions in holdings of Government
securities and of approximately 7 millions in holdings of
Other Securities, so that total loans and investments of these
banks on May 9 this year were 22.4 millions greater than a
year ago. Time deposits of these banks were about 6.1 mil­
lions, and demand deposits 30.7 millions, greater than on the
same report date a year ago, and bankers’ balances were also
much greater than at that time.
In the tables which follow are shown comparisons of the
principal items of the weekly report, and monthly averages
of these weekly figures over the past year, and a comparison
of savings deposits reported by a list of banks located
throughout the district.

L o a n s:
O n S e c u ritie s ....................................
A ll O th e r s ............................................
T o ta l L o a n s ............................
TJ. S . S e c u ritie s .....................................
O th e r 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 I n v e s t­
m e n ts ......................................
T im e D e p o s its ......................................
D e m a n d D e p o s its ...............................
D u e to B a n k s ........................................
D u e fro m B a n k s ..................................
B o rro w in g s from F . R . B a n k . . .

R E V IE W

T im e
D e p o s its
$ 1 2 4 ,2 2 0
1 2 6 ,4 7 7
1 2 7 ,1 9 5
1 2 6 ,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 6 0
1 3 1 ,4 2 6
1 2 9 ,0 3 3

B o rro w in g s
F ro m
F . R . B ank
$ 1 0 ,7 7 3
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

2,572
2 ,6 1 4

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

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

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

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

S A V IN G S D E P O S IT S
(0 0 0 O m itte d )
N um ber
of
B anks
A t l a n t a ............
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 rle a n s.
O th e r C itie s .

3
3
3
3
4
3
35
54

A p ril
1934

M arch
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

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

A p ril
1933

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

2 r0 6 0
441
161

0

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

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

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

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

Debits to Total volume of bank debits to individual acIndividual counts at twenty-six reporting clearing house
Accounts centers of the Sixth District declined 5.2 per cent
from March to the shorter month of A pril, but
were 31.9 per cent greater than in A pril, 1933. Monthly
totals in the table which follows 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 )
A p ril 1 9 3 4
A la b a m a -— C itie s ..........................
4
B ir m in g h a m ...................................
M o n tg o m e ry .............................
F l o r i d a - 4 C itie s ..............................
Ja c k s o n v ille ....................................
P e n s a c o la .................... .....................
G eo rg ia— 1 0 C itie s ..........................

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

S a v a n n a h .........................................

M ar. 1 934

A p ril 1 9 3 3

$ 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

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

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

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

114* 921
5 6 ,6 7 3
3 0 ,0 2 6
5 ,7 2 0
2 2 ,5 0 2

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

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 ,8 5 5
2 ,5 7 9

2 0 7 ,2 3 8
2 ,4 0 4
1 3 3 ,7 5 7
1 7 ,5 1 2
1 ,9 0 7
9 ,9 4 0
773
1 0 ,4 0 6
1 ,7 0 9
2 6 ,2 0 4
2*626

1 5 1 ,1 4 1
1 ,6 4 9
9 6 ,8 3 4
1 3 ,1 4 5
1 ,3 3 5
6 ,7 2 5
415
7 ,5 2 6
1 ,1 4 5
2 0 ,5 8 5
1 ,7 8 2

L o u isia n a — N e w O rle a n s ............

1 7 6 ,3 2 8

1 8 1 ,0 6 0

1 3 7 ,9 8 1

M ississip p i—-4 C itie s .....................
H a ttie s b u r g .....................................

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

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

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

T e n n essee— 3 C itie s ..................
C h a tta n o o g a ..................................
K n o x v ille ..........................................

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

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

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

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

$ 7 3 5 ,5 1 9

$ 7 7 5 ,8 4 3

$ 5 5 7 ,5 3 3

V ic k s b u rg .........................................

•

A G RICU LTU RE
According to the May 1st Crop Report issued by the United
States Department of Agriculture the crop situation con­
tinues highly abnormal and crop prospects are very uncertain
because of inadequate rainfall and a general lack of subsoil
moisture in the North Central and Western groups of states
which ordinarily have two-thirds of the total crop acreage.
In the country as a whole winter grains do not show unusual
abandonment but yields per acre seem likely to be not far
above the lowest yield per acre of recent years. Fru it pros­
pects are only slightly below average for this time of year.
No serious injury to the apple crop has been reported thus
fa r and a late spring has often been favorable to apple pro­
duction. The apparent failure of the peach crop from Illi­
nois and Michigan eastward is offset to some extent by better
than average prospects in the South. The spring work of
getting in the crops is now about as far advanced as usual.
There is still time for well distributed rains and seasonable
weather to result in better than average crops, but hay and
small grains which occupy about half of the total crop area
are suffering over a wide area and the need of rainfall is

4

M O N T H L Y

daily becoming more acute. On the whole, crop prospects
seem less promising than at this early date in any recent
year.
Weather conditions were varied in different sections of the
Sixth District during A pril. In Tennessee the weather was
cool and dry, resulting in slow development of all growing
crops. Rapid progress was made in farm work and planting
of field crops was more advanced than usual. Florida crops
were held back somewhat by the cool weather, and although
there was too much rain in the southern part of the state,
resulting in damage to beans and tomatoes, moisture condi­
tions generally were better than at the same time a year ago.
Weather conditions have been favorable for growth of vege­
tables in South Georgia since the frost of March 12. Good
stands are reported for practically all crops, especially lima
beans, snap beans, and cantaloups. Reports indicate a large
increase in the cantaloup acreage, and the watermelon acre­
age in South Georgia is reported from 25 to 50 per cent
greater than last year, while in middle Georgia the increase
appears to be from 15 to 25 per cent. Prospects for citrus
in Florida are better than a year ago, the May 1 condition
of oranges being reported at 88 per cent of normal, compared
with 83 per cent a year ago, and the condition of grapefruit
being 85 per cent compared with 77 per cent a year ago.
The May 1 estimate of the peach crop in five states of this
District indicates a gain of 26.8 per cent over 1933 produc­
tion, as indicated in these figures:
P E A C H C R O P - -B ushels
E s tim a te
1933
M a y 1. 1 9 3 4
P ro d u c tio n
..............
..............
..............
..............
..............

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

R IC E M ILLERS ASSOCIATION STATISTICS
(B a rre ls )

S U G A R M O V E M E N T - —(P o u n d s )
R aw S ugar
A p ril 1 9 3 4
M arch 1 9 34
R e c e ip ts :
N ew O rlean s.
M e ltin g s :
N ew O rlean s.
Savannah.. .
S to ck s:
N e w O rlean s.
S a v a n n a h .. .
S h ip m e n ts:
N ew O rlean s.
S to ck s:
N ew O rlean s.
S avannah

...................

1 5 0 ,4 7 0 ,0 3 9

1 3 2 ,2 4 2 ,1 3 8
4 9 ,3 9 3 ,3 8 8

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

...................
...................

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

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

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

...................
...................

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

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

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

R efin ed S u g a r
...................
...................

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

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

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

...................

6 0 ,3 6 1 ,2 2 1

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

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

C le an R ic e — P o c k e ts:
...................
R e c e ip ts ..........
...................
S h ip m e n ts .. .
S to c k s ..............
...................

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

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

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

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

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

Rough

C le an

6 6 4 ,0 0 1
7 6 0 ,0 0 5

S to c k s :
A p ril 3 0 , 1 9 3 4 .
A p ril 3 0 , 1 9 3 3 .

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

Fertilizer After increasing in March to the highest monthly
Tag Sales total in four years, sales of fertilizer tax tags in
the six states located wholly or partly in the
Sixth District declined in A pril, but were 3.8 per cent greater
than in April, 1933. For the nine months of the season, total
tag sales in these states have been 44.9 per cent greater than
in that part of the season before. The figures in the table
are from those compiled by the National Fertilizer Associa­
tion.
A p ril
1934
A la b a m a ....................................
F lo r id a ........................................
G e o rg ia ......................................
L o u is ia n a ..................................
M is siss ip p i...............................
T e n n e s s e e .................................

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

M a rc h
1934

S h o rt T o n s
A p ril
1933

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

A u g . 1 to A p ril 3 0
1933-34
1932-33

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

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

TRA D E

A pril 1 9 3 3

R IC E M O V E M E N T — N E W O R LEA N S
R o u g h R ic e— B arrels:
A p ril 1 9 3 4
M a rc h 1 9 3 4
...................
3 5 ,2 5 8
4 8 ,0 1 9
R e c e ip ts ..........
...................
3 8 ,5 9 2
4 6 ,2 0 2
4 1 ,9 3 2
4 5 ,2 6 6
S to c k s ..............
...................

A u g u st to A p ril

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

T o t a l ............................ 3 3 4 , 6 3 9

7 ,0 5 7 ,0 0 0

F lo r id a ..................
G e o r g ia .................
L o u is ia n a .............
M is siss ip p i. . . .

A p ril

R e c e ip ts of R o u g h R ic e:
S easo n 1 9 3 3 - 3 4 .......................
S eason 1 9 3 2 - 3 3 .......................
D is trib u tio n of M illed R ice:
S easo n 1 9 3 3 - 3 4 .......................
S eason 1 9 3 2 - 3 3 .......................

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

T o ta l— 5 S ta te s ..............

R E V IE W

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

Retail Department store sales in the Sixth District declined
Trade somewhat in A pril, following the large increase in
March, but stocks increased further, and both sales
and stocks were much greater than in A pril, 1933. The rate
of stock turnover, and the collection ratio, declined somewhat
from March to April but were higher than a year ago.
Total sales in April by 61 reporting department stores
averaged 14 per cent less than in March, but were 27.2 per
cent greater than in April of last year. In 1933 April had
thirteen business days before Easter, while this year Easter
came on April 1 and Easter buying was necessarily done in
March. On a daily average basis, the decrease from March
to April was 7.1 per cent, as April was shorter by two busi­
ness days than March.
Comparisons of sales, stocks, stocktumover and collection
ratios for reporting cities are set out in the table. For in­
stallment accounts the ratio for April was 16.5 per cent com­
pared with 16.2 per cent (corrected) for March, and with 13.9
per cent for April last year, and for regular accounts the
ratio for April was 33.6 per cent, from March 36.7 per cent,
and for April last year 27.8 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 IL T R A D E IN T H E S IX T H D IS T R IC T D U R IN G M A R C H 1 934
B ased o n c o n fid en tial re p o rts fro m 6 1 d e p a rtm e n t s to res
C o m pa r iso n o p N e t S a l e s
C o m pa r is o n o p S to ck s
A pril 1 9 3 4
Y e a r to
A p ril 3 0 , 1 9 3 4
S to c k T u r n o v e r
w ith:
d a te w ith
w ith :
S am e m o n th P re v io u s
S am e p erio d S am e m o n th P re v io u s
A p ril
J a n . to A p ril
a y e a r ago
M o n th
la s t y e a r
a y e a r ago
M o n th
1934
1933
1934
1933
A tla n ta ( 6 ) .........................................................+
B irm in g h am ( 6 ) ............................................+
C h a tta n o o g a ( 4 ) .............................................+
Ja ck so n v ille ( 3 ) ...................................... ........+
K noxville ( 3 ) ......... ...........................................+
M ia m i ( 3 ) ................................................... ........+
N a sh v ille ( 4 ) .....................................................+
N ew O rlean s ( 5 ) .............................................+
O th e r C ities ( 2 7 ) ................................... ........+
D I S T R I C T ( 6 1 ) .................................... ........+


N O T E : T h e rate of sto c k turn over


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

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

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

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

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

C o l l e c t io n R a t io
A p ril
1934

M a rc h
1934

A p ril
1933

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

is the ratio of sales d u rin g giv e n period to average stocks on hand.

M O N T H L Y

Wholesale Total sales reported by 99 wholesale firms in the
Trade
Sixth District were 6.7 per cent less in April than
in March, but were 33.8 per cent greater than in
A pril, 1933, and for the first four months of 1934 have been
52.9 per cent greater than in that part of last year. Stocks
increased somewhat ever the month, and were 25.9 per cent
greater than a year ago. The collection ratio declined
slightly from March to A pril, but was substantially higher
than for April last year. Reported figures are compared in
detail in the table.

R E V IE W

Commercial Statistics compiled by Dun and Bradstreet, Inc.,
Failures
indicate that in the Sixth District there were
76 business failures in A pril, compared with 33
in March, and with 73 in April a year ago, and liabilities in­
volved in April failures this year were $1,016,110, compared
with $569,978 for March, and with $1,401,400 for April, 1933.
In the United States April failures numbered 1,052, com­
pared with 1,102 for March, and with 1,921 for April last
year, and liabilities for April were $25,786,975, for March
$27,227,511, and for April last year $51,097,384.

W H O L E S A L E T R A D E IN A P R IL 1 9 34
S ix th F e d e ra l R e s e rv e D is tric t*

N um ber
o f F irm s
A ll L in es C o m b in ed :
S a le s .............................................
S to c k s .........................................
G roceries:
S a le s .............................................
Ja 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 itie s . . . . . . .
S to c k s .........................................
D r y G oods:
S a le s .............................................
N a s h v ille ........................
O th e r C itie 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 lies:
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 .............................................

P e rc e n ta g e C o m p a riso n s
A p ril 1 9 3 4 w ith :
J a n .- A p r il 1 9 3 4
M a rc h
A p ril
w ith sa m e
1934
1933
p e rio d la s t y e a r

99
30

— 6 .7
+ 4 .4

+ 3 3 .8
+ 2 5 .9

+ 5 2 .9

23
4
5
3
11
3

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

+
+
+
+
+
+

+
+
+
+
+

15
3
12
7

— 1 1 .6
— 3 .6
— 1 3 .5
+ 4 .9

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

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

26
3
5
18
9

+ 0 .4
+ 2 0 .1
— 0 .5
— 2 .4
+ 3 .2

+
+
+
+
+

+
+
+
+

9
4
5
6

— 4 .3
— 3 0 .0
+ 5 .0
+ 3 .2

+ 1 0 4 .1
+ 2 1 .8
+ 1 4 4 .3
+
4 .8

+ 1 1 4 .8
+ 7 3 .1
+ 1 3 3 .5

13
4
9
3

+ 2 3 .3
+ 1 9 .1
+ 2 4 .7
+ 2 3 .2

+
3 .3
+ 6 0 .8
— 7 .4
+ 1 7 .7

— 1 1 .6

+ 2 7 .2

+ 3 4 .4

3

+

+ 5 1 .8

+ 4 5 .5

A p ril
1934

M a rc h
1934

A p ril
1933

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

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

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

4 6 .8

4 9 .0

3 1 .9

1 .0

2 7 .2
2 6 .0
2 5 .0
3 5 .3
2 7 .0
5 9 .5

5 1 .9
3 4 .4
6 0 .3
5 1 .8
1 1 .8

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

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

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

11
8
15
6
4
4
48

* B a s e d o n c o n f id e n tia l r e p o r t s f r o m 9 9 fir m s .
* * T h e c o lle c tio n r a t i o is t h e p e r c e n ta g e o f a c c o u n ts a n d n o te s re c e iv a b le
o u ts ta n d in g a t th e b e g in n in g o f th e m o n t h w h ic h w e r e c o lle c te d
d u r i n g th e m o n t h .

Life
April sales of new, paid-for, ordinary life insurInsurance ance in the six states located wholly or partly in
the Sixth District increased further by 12.1 per
cent from March to A pril, and except for December were
larger than for any other month since December, 1931. April
sales were 30.2 per cent greater than a year ago, the in­
creases ranging from 7.4 per cent for Tennessee to 63.7 per
cent for Florida. For the four months of 1934 total sales in
these states have been 21.7 per cent greater than in that part
of 1933, as indicated in the following figures from statistics
compiled by the Life Insurance Sales Research Bureau.
A p ril
1934

( 0 0 0 o m i tte d )
M a rc h
A p ril
1934
1933

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

T o t a l ................. 3 1 , 8 1 2



2 8 ,3 6 8

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

G R A IN E X P O R T S — N E W O R L E A N S
A p ril
M a rc h
A p ril
1934
1934
1933

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

A p ril 3 to J a n . 1 0
1934
1933
$ 1 4 ,7 0 2
1 8 ,0 6 8
2 5 ,9 9 5
1 6 ,9 6 6
9 ,2 0 3
2 3 ,6 7 4

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

1 0 8 ,6 0 8

8 9 ,2 2 0

P ercen t
C hange
+
+
+
+
+
+

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

+ 2 1 .7

(B u sh els)
J u ly 1 to A p ril 3 0
1933-34
1 9 32-33

W h e a t .........................................
C o m .............................................
O a ts ............................................

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

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

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

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

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

3 7 ,4 6 8

3 7 ,1 5 5

4 7 ,9 9 9

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

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

8

5

IN DUSTRY
Building Total value of permits issued during April at
Permits twenty reporting cities in the Sixth District for the
construction of buildings within their corporate
limits increased 9.5 per cent over March, and was greater by
106.8 per cent than for A pril, 1933. There were important
increases from March to April at New Orleans, Jacksonville,
Augusta, and smaller gains at some other points, and all
but three of these reporting cities reported increases over
April, 1933. For the first four months of 1934 total permits
have been $7,500,033, greater by 159.1 per cent than during
that part of 1933, and 21.8 per cent greater than during the
same part of 1932. Comparisons for the month are shown in
the table.
B U IL D IN G P E R M IT S
N um ber
V alu e
A p ril
A p ril
1934
1933
1934
1933
A la b a m a
A n n is to n ..............
B ir m in g h a m . . .
M o b ile ...................
M o n tg o m e r y .. .
F lo r id a
J a c k s o n v ille .. . .
M ia m i B e a c h . .
G eo rg ia
C o lu m b u s ...........

10
141
41
126

5
127
22
11 1

497
391
54
68
230

314
253
34
31
153

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

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

287
31
65
41
12

201
35
76
95
9

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

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

$

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

$

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

S a v a n n a h ............
L o u isia n a
N e w O r le a n s .. .
A le x a n d ria ..........
T en n essee
C h a t ta n o o g a .. .
J o h n so n C i t y .. .
K n o x v ille .............
N a s h v ille .............

77
52

79
53

4 4 1 ,9 6 6
1 8 .9 1 6

1 0 3 ,6 6 8
1 3 ,0 3 3

269
2
55
121

196
1
32
147

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

2 8 ,0 3 0
50
6 9 ,5 1 0
7 0 ,4 8 4

T o ta l 2 0 C ities

2 ,5 7 0

1 ,9 7 4

1 ,6 9 0 ,2 9 4

8 1 7 ,2 9 3

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

+
+
+
+
+
+
+
+
+
+
t

+
+
+
+
+

—

+

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

Contract The total value of construction contracts awarded
Awards in the Sixth District, indicated in statistics com­
piled by the F . W. Dodge Corporation and sub­
divided into district totals by the Federal Reserve Board’s
Division of Research and Statistics, declined about 35 per
cent from March to A pril, but was nearly five times the total
for A pril, 1933. Residential contracts increased 11.6 per cent
over March and were the largest since November, and were
52 per cent greater than a year ago. Total awards increased
in Alabama and Mississippi over the month before, and were
greater in all states of the district than a year ago. For the
four months of 1934, total awards in this District have been
more than three times as large as during that part of last
year or the year before.
In the 37 states east of the Rocky Mountains total awards
declined 26.3 per cent from March to April, and were 132.3
per cent greater than a year ago, and for the four months
were 134.7 per cent greater than in that part of 1933. Com­
parisons for the month are shown in the table.

6

M O N T H L Y

A p ril
1933

A p ril
1934

M a rc h
1934

S ix th D is tr ic t— T o t a l ......................
R e s id e n tia l.........................................
A ll O th e r s ............ ...............................

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

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

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

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

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

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

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

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

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

Lumber During the five weeks ending May 5 production by
lumber mills reporting weekly to the Southern Pine
Association averaged 5.9 per cent greater than their output
during the same weeks in 1933, but orders received by these
mills averaged 19.4 per cent smaller than a year ago. Un­
filled orders, however, averaged 25.3 per cent larger than in
those weeks last year. During this five weeks period orders
have been on the average about 5 per cent less than produc­
tion, while at the same time a year ago orders averaged 24
per cent greater than output. Press reports indicate that
while there has been some improvement during March and
April, retail yards continue to buy for immediate needs only,
and mostly in mixed cars, and the principal movement of pine
is still to public works jobs and to the railroad and industrial
trade. Weekly figures are compared in the table.
W e ek
E nded

N um ber
of M ills

A p ril 7 ................ ....... 9 2
A p ril 1 4 ......................8 5
A p ril 2 1 ..................... 9 4
A p ril 2 8 ......................8 8
M a y 5 .........................7 9

(I n T h o u s a n d s of F e e t)
O rd ers
P ro d u c tio n
1934
1933
1934
1933
1 4 ,4 7 4
2 1 ,7 6 0
2 4 ,5 8 6
2 1 ,0 1 0
1 7 ,9 4 9

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

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

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

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 ctiv e S p in d les— N u m b e r ............

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

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

A p ril
1933

5 1 2 ,7 0 3
8 ,6 8 6 ,6 8 7
1 , 5 84,746

5 4 3 ,6 9 0
9 ,5 0 2 ,5 8 7
1 , 649, 807

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

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

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

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

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



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 ..............................
1 0 6 ,0 2 5
1 1 4 ,2 4 9
S to c k s ....................................................
6 9 7 ,7 4 3
7 2 1 ,1 3 4
I n C o n su m in g E s ta b lis h m e n ts
3 5 1 ,6 3 1
3 7 0 ,8 6 3
I n P u b lic S to ra g e a n d a t
C o m p re sse s...................................
3 4 6 ,1 1 2
3 5 0 ,2 7 1
A ctiv e S p in d les— N u m b e r . . .
8,503,244
8 ,5 6 0 ,0 9 4

A pril
1933
3 8 8 ,8 9 5
8 ,7 6 2 ,4 0 6
1 ,1 0 1 ,1 4 1
7 ,6 6 1 ,2 6 5
1 6 ,7 5 2 ,0 4 2

8 1 ,4 6 4
7 6 0 ,7 2 5
2 7 0 ,0 7 7
4 9 0 ,6 4 8
6 ,669,638

Total consumption of cotton in the three states of this Dis­
trict for which Census Bureau figures are compiled sepa­
rately declined 6.0 per cent, but daily average consumption
increased 1.5 per cent, from March to April, and April con­
sumption was 8.1 per cent greater than a year ago. For the
nine months of the cotton season consumption in these states
has been 4.1 per cent greater than a year ago, an increase of
10.6 per cent in Georgia being more than sufficient to offset
decreases in Alabama and Mississippi.
C O T T O N C O N S U M P T I O N - -B ales
A p ril
M arch
A p ril
A u g u st 1 to A p ril 3 0
1934
1934
1933
1933-34
1932-33
A la b a m a ....................
G e o r g ia ......................
T e n n e s s e e .......

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

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

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

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

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

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

1 5 8 ,7 5 2

1 6 8 ,9 0 4

1 4 6 ,7 9 0

1 ,3 7 2 ,5 3 7

1 ,3 1 8 ,1 1 5

Cotton
Employment at reporting cotton mills in the
Manufacturing Sixth District increased further from March
to April by an average of 2.1 per cent, and
was 59.2 per cent greater than in April last year. Produc­
tion of yam declined from March to April, but output of
cloth increased, and production of both cloth and yarn was
greater than a year ago. Shipments, orders and unfilled or­
ders declined. Reported figures are compared in the table.

U nfilled O rd ers
1934
1933

Cotton
Total consumption of cotton by American mills
Consumption declined 5.7 per cent from March to April, be­
cause of the shorter month, and was 9.0 per
cent greater than in April, 1933. Daily average consumption
increased by 1.8 per cent from March to April in the United
States, and increased 2.3 per cent in the cotton-growing
states. For the nine months of the cotton season, August
through April, total consumption has been 5.7 per cent
greater than in that part of the previous season; for this
period consumption in the cotton states was only 0.8 per cent
greater than a year ago, while in other states the gain was
30.2 per cent.
April exports declined 29.7 per cent from March, and were
11.4 per cent less than in April 1933, and for the nine months
period have been 0.6 per cent less than in the corresponding
part of the season before.
Spindles active in April show a decrease of 0.2 per cent
from March, but an increase of 12.9 per cent over those
active in April 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
A p ril
M a rc h
1934
1934

R E V IE W

N um ber
of M ills

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

C o tto n C lo th :
P r o d u c tio n .........................................
S h ip m e n ts .........................................
O rd ers B o o k ed . ............................
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 l l......................

17
16
12
14
14
15

+ 4 .8
— 1 4 .1
— 4 4 .0
— 1 6 .4
+ 9 .0
+ 0 .8

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

C o tto n Y a rn :
P r o d u c tio n .........................................
S h ip m e n ts .........................................
O rd ers B o o k e d ..............................
U n filled O r d e r s .............................
S to ck s o n h a n d .............................
N u m b e r o n p a y r o l l...................

11
11
7
9
10
9

— 3 .1
— 8 .4
— 2 8 .0
— 4 .5
+ 5 .4
+ 5 .1

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

Cotton Seed
Operations at cotton seed oil mills in the
And Cotton
Sixth District showed a further seasonal deSeed Products cline from March to April. Receipts and
crushings of seed were also smaller for the
month and for the nine months of the season, than in those
periods a year earlier. Except for an increase in linters,
production also declined. Cumulative totals for this season
compared with last season, for Georgia, Alabama, Louisiana
and Mississippi are shown in the first two columns of the
table, and totals for the country as a whole are compared in
the last two columns. The figures are from those c ^mpiled
by the United States Census Bureau.
COTTON 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 A p ril 3 0
A u g . 1 t o A p ril 3 0
1933 -3 4
1932-33
1933-34
1932 -3 3
C o tto n S eed , T o n s:
R e c e iv e d a t M ills .. .
C r u s h e d ..................... ..
O n H a n d , A p ril 3 0 . .

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

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

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

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

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

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

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

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

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

M O N T H L Y

Electric Total production of electric power by public utility
Power
power plants in the six states located wholly or
partly in the Sixth District increased 12 per cent
in March over the shorter month of February, and was 15.3
per cent greater than in March last year. Production by use
of water power, which accounted for 63.8 per cent of the
total, increased 37.6 per cent over February, but was only
9.6 per cent greater than in March, 1933, when it accounted
for 67.1 per cent of the total. For the first quarter of 1934
total production was 11.6 per cent greater than in that part
of 1933. 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 )
M ar. 1 9 34
F eb. 1934
M ar. 1 933
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...............................................
T e n n e s se e .................................................

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

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

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

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

5 1 4 ,4 9 2

4 5 9 ,1 7 9

4 4 6 ,3 3 3

B y u se o f : W a te r P o w e r ...............
F u e ls .................................
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 o w er:
C o al— t o n s ....................................
F u e l O il— b b ls .............................
N a tu r a l G as— 0 0 0 c u . f t . . .

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

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

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

N o te :

M a rc h figures p re lim in a ry — F e b ru a ry figures slig h tly re v ise d .

Bituminous Total production of bituminous coal in the
Coal Mining United States, according to statistics compiled
by the United States Bureau of Mines, declined
35.1 per cent from March to A pril, the first month of the new
coal year, but was 27.9 per cent greater than in April, 1933.
Daily average output declined 27.6 per cent from March to
April, but was 30.6 per cent greater than a year ago. Pre­
liminary figures are compared in the table.
T o ta l
P ro d u c tio n
(T o n s)

N u m b er of
W o rk in g
D ays

A v erag e p e r
W o rk in g D a y
(T o n s)

2 4 .2
27
2 4 .7

1 , 0 3 2 ,0 0 0 p
l,4 2 6 ,0 0 0 r
7 9 0 ,0 0 0

A p ril 1 9 3 4 ......................................................2 4 , 9 7 7 , 0 0 0 p
M a rc h 1 9 3 4 ............................................. 3 8 , 4 9 7 , 0 0 0 r
A p ril 1 9 3 3 ................................................
1 9 ,5 2 3 ,0 0 0
p — P re lim in a ry ,

r — R ev ise d .

Weekly production in Alabama and Tennessee also declined
seasonally with the beginning of the new year, and Alabama
production was also seriously affected by strikes. Weekly
figures for April are compared with those for April last year
in the following table.
W eek E n d e d :
A p ril 7 ..............................................
A p ril 1 4 ...........................................
A p ril 2 1 ...........................................
A p ril 2 8 ............................................
M a y 5 ...............................................

(T o n s)
A la b a m a
1934
1933
1 8 5 ,0 0 0
8 0 ,0 0 0
3 0 ,0 0 0
1 0 8 ,0 0 0
2 0 6 ,0 0 0

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

Cumulative totals indicate that in the United States pro­
duction during the first four months of 1934 totaled 5,825,824
tons, an increase of 154.5 per cent over that part of 1933 and
55 per cent greater than during the first four months of 1932,
and in Alabama production this year has totaled 477,460 tons,
325.2 per cent greater than in the first four months of 1933
and 49.3 per cent greater than in that part of 1932. The
usual comparisons are shown in the table.

5 5 ,0 0 0
5 2 ,0 0 0
5 8 ,0 0 0
5 3 ,0 0 0
5 3 ,0 0 0

F u rn a c e s
A ctiv e*

U n ite d S ta te s :
A p ril 1934...
M a r c h 1934..
A p ril 1933...

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

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

110
96
48

A lab a m a:
A p ril 1934...
M a r c h 1934..
A p ril 1933...

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

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

10
10
2

* F ir s t o f follo w in g m o n th .

Naval Receipts of both turpentine and rosin at the three
Stores principal markets of the District increased season­
ally from March to A pril, the first month of the new
Naval Stores year, and receipts of turpentine were slightly
smaller, but those of rosins somewhat larger, than a year
ago. Stocks also increased somewhat ever the month, but
were less than a year ago. Press reports indicate a lagging
demand for both commodities, and the price of turpentine de­
clined from 54% cents per gallon on April 14 to 50% cents
on May 12, and the average of quotations for the thirteen
grades of rosin declined from $5.08 per 280 pounds on April
14 to $4.87 on May 12. Receipts and stocks are compared in
the table.
NAVAL STO RES
A p ril 1 9 3 4

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

A p ril 1 9 3 3

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

2 ,7 1 8
3 ,4 2 9
405

8 ,4 7 8
7 .8 4 9
1 .8 4 9

6 ,5 5 2

1 8 ,1 7 6

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

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

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

6 9 ,4 9 6

R e c e ip ts — R o s in (2 )

M arch 1 9 3 4

1 7 ,3 1 5

R e c e ip ts — T u r p e n tin e (1 )
J a c k s o n v ille ............ .........................

Pig Iron
Total production of pig iron in the United States
Production increased 6.6 per cent from March to A pril, and
daily average output increased 10.2 per cent,
according to statistics compiled by the Iron Age, and April
production was greater than a year earlier by 176.9 per cent.
The number of furnaces active increased from 96 on April 1
to 110 on May 1, compared with 48 active at the same time
a year ago.
Total production of pig iron in Alabama declined 1.9 per

cent, but the
http://fraser.stlouisfed.org/ daily average increased 1.3 per cent, from
Federal Reserve Bank of St. Louis

P r o d u c tio n — T o n s
T o ta l
D a ily A v e ra g e

T e n n essee
1934
1933
3 6 ,0 0 0
6 5 ,0 0 0
6 9 ,0 0 0
7 0 ,0 0 0
7 1 ,0 0 0

7

March to A pril, and April production was nearly four times
that of A pril, 1933. The number of furnaces active remained
at 10, compared with 2 active a year ago. Press reports indi­
cate that a majority of the foundries served by the Birming­
ham district covered their needs for the second quarter at the
old price of $13.50, and new business is small because of the
heavy buying prior to the effective date of the advance to
$14.50 per ton. According to press reports, iron mines in the
Birmingham district were closed on May 4 by a strike, but
all of the furnace companies are reported to have sufficient
stocks on hand to run them for a month or more.

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

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

R E V IE W

5 1 ,9 7 8

6 3 ,3 7 2

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

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

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

4 6 ,4 6 5

4 6 ,0 1 0

5 9 ,2 1 2

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

7 4 ,6 9 1
6 1 ,2 1 2
6 ,6 7 1

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

1 5 6 ,4 4 7

1 4 2 ,5 7 4

2 1 2 ,5 2 6

S to c k s— T u r p e n tin e (1 )
J a c k s o n v ille .................................... ..
T o t a l .........................................
S to ck s— R o s in (2 )
J a c k s o n v ille ......................................
T o t a l .........................................
1)

2)
&

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

M O N T H L Y

8

R E V IE W

MONTHLY IN D EX NUMBERS COMPUTED B Y FED ER A L R ES ER V E BANK OF ATLAN TA
M O N T H L Y A V E R A G E 1923-1925=100
F e b ru a ry
1934

M a rc h
1934

M a rc h
1933

A p r il
1933

D a ily Average Sa le s— U n a d ju s te d
A t l a n t a ...................................................................................................................................
B ir m in g h a m .......................................................................................................................
C h a tta n o o g a .......................................................................................................................
N a s h v ille ...............................................................................................................................
N e w O rle a n s .......................................................................................................................
D I S T R I C T .........................................................................................................................

121.2
58.8
54.7
57.0
61.3
68.4

166.0
69.2
69.3
80.9
64.9
84.4

145.8
62.1
64.5
81.0
75.3
83.0

88.9
43.8
36.3
49.1
49.2
52.4

104.9
42.3
34.6
48.7
35.7
49.6

115.1
48.4
48.7
66.4
57.4
64.8

D a ily Average S a le s— A d ju s te d *
A t l a n t a ...................................................................................................................................
B ir m in g h a m .......................................................................................................................
C h a tta n o o g a ......................................................................................................................
N a s h v ille ...............................................................................................................................
N ew O rle a n s ..................... .................................................................................................
D I S T R I C T ........................................................................................................................

142.6
65.3
69.2
67.1
69.7
77.7

167.7
68.5
72.9
84.3
67.6
86.1

142.9
65.4
67.2
83.5
74.6
83.8

104.6
48.7
45.9
57.8
55.9
59.5

112.8
44.5
38.9
54.1
39.7
53.9

106.6
47.9
47.7
64.5
53.6
61.7

M o n th ly S to c k s— U n a d ju s te d
A t l a n t a ...................................................................................................................................
B ir m in g h a m ......................................................................................................................
C h a tta n o o g a ......................................................................................................................
N a s h v ille ...............................................................................................................................
N e w O rle a n s .......................................................................................................................
D I S T R I C T .........................................................................................................................

84.2
39.5
43.8
57.4
55.9
55.9

90.2
37.4
45.0
65.5
58.8
58.7

97.6
35.2
51.7
68.9
59.6
60.8

70.2
39.0
37.5
48.3
52.8
50.5

71.8
3 7.2
37.9
53.6
51.5
50.4

72.8
38.4
37.8
57.2
48.6
49.8

M o n th ly S to ck s— A d ju ste d *
A t l a n t a ...................................................................................................................................
B irm in g h a m .......................................................................................................................
C h a t ta n o o g a .....................................................................................................................
N a s h v ille ...............................................................................................................................
N ew O rle a n s .......................................................................................................................
D I S T R I C T .........................................................................................................................

87.7
41.1
45.2
60.4
55.9
57.0

88.4
36.7
42.5
64.2
56.6
57.0

93.0
33.5
49.2
66.3
57.3
57.9

73.1
40.6
38.7
50.8
52.8
51.5

70.2
36.5
35.8
52.5
49.5
48.9

69.3
36.6
36.0
55.0
46.7
47.4

54.9
50.4
64.5
51.5
54.1
55.3
40.0
73.9

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

33.2
31.8
34.0
31.9
28.4
30.1
25.3
53.6

38.2
38.9
41.8
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

57.7
47.6
73.1
67.5
49.6
45.8
56.5

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

54.6
51.2
56.9
57.8
58.3
38.5
57.4

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

14.6
20.9
4 .8
31.8
10.0
4.0
16.0

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

5 .2
2.2
2 .7
5.0
7 .5
8.3
5 .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

33.4
7.6
50.6

57.8
13.8
87.2

37.8
15.8
52.7

9 .6
4 .9
12.7

11.3
12.3
10.6

7 .7
10.1
6.1

73.6
61.3
66.7
78.7
89.6
76.9
72.4
87.0
86.6
75.5
81.0
68.5

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

59.8
40.9
53.7
66.0
68.0
51.2
63.6
77.4
69.8
71.3
72.3
59.2

80.2
42.8
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

A la b a m a ......................................................................... ...........................................
T e n n e s se e ..................................................................................................................

92.8
109.9
58.9
113.6
142.9
100.0

105.6
125.4
66.2
130.8
160.7
117.7

99.6
118.8
61.4
119.3
157.1
118.7

85.7
108.0
41.4
98.2
138.6
106.9

96.2
120.7
47.4
115.2
152.6
117.2

91.3
113.6
47.2
107.7
147.2
123.0

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

122.4

107.1

75.3

108.5

95.0

85.0

P I G IR O N P R O D U C T IO N — U n ite d S t a t e s .........................................
A la b a m a ....................................................

42.3
48.7

54.2
53.8

57.8
52.8

18.6
12.7

18.1
12.0

20.9
13.3

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

W H O L E S A L E T R A D E — S I X T H D I S T R I C T — T O T A L .........
G ro c e rie s ...............................................................................................................................
D r y G o o d s ..........................................................................................................................
H a r d w a r e .............................................................................................................................
F u r n itu r e ..............................................................................................................................
E le c tric a l S u p p lie s .........................................................................................................
D r u g s ......................................................................................................................................
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 la b a m a ...............................................................................................................................
G e o r g ia ..................................................................................................................................
L o u is ia n a ..............................................................................................................................
T e n n e s s e e ............................................................................................................................
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 t l a n t a ..................................................................................................................................
B ir m in g h a m .......................................................................................................................
N ew O rle a n s .......................................................................................................................
F ifte e n O th e r C itie s .....................................................................................................
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 . . . .

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 I T I E S ............................................................................................
F a r m P r o d u c ts .................................................................................................................
F o o d s .......................................................................................................................................
O th e r C o m m o d itie s .................................................................................. ..................
H id e s a n d le a th e r p r o d u c ts ..........................................................................
T e x tile p ro d u c ts ...................................................................................................
F u e l a n d lig h tin g .................................................................................................
M e ta ls a n d m e ta l p r o d u c ts ..........................................................................
B u ild in g m a te ria ls ..............................................................................................
C h em icals a n d d r u g s .........................................................................................
H o u se fu rn ish in g g o o d s ....................................................................................
M isc e lla n e o u s.........................................................................................................
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 .....................
All O th e r S t a t e s ..............................................................................................................

♦ A d ju sted fo r S easo n al V a ria tio n .




fC o m p ile d b y B u re a u of L a b o r S ta tis tic s.

19 26 - - 1 0 0 .

A p ril
1934

F e b ru a ry
1933