The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
M O N T H L Y R E V IE W O f F in a n c ia l, A g r ic u ltu r a l, T r a d e a n d I n d u s tr ia l C o n d itio n s in th e S ix th F ed era l R ese rv e D is tr ic t FED ER A L R ESER V E BANK OF ATLANTA VOL. 18, No. 9 ATLANTA, GA., September 30, 1933 NATIONAL SUMMARY OF BUSINESS CONDITIONS Th“ D is tr ib u tio n S a le s b y d e p a r t m e n t s to r e s in c r e a s e d in A u g u s t, P rep a red b y F ed era l R eserv e B o ard and T h e g e n e r a l le v e l o f in d u s tr ia l p r o d u c t io n d e c lin e d in A u g u s t th e B o a r d ’s in d e x , w h ic h is a d ju sted fo r s e a s o n a l v a r ia tio n s , a d v a n c e d fr o m 71 t o 7 5 p e r c e n t o f t h e 1 9 2 3 - a n d t h e e a r ly p a r t o f S e p te m b e r , r e f le c t in g r e d u c tio n s in a c t iv it y 1 9 2 5 a v e r a g e , t h e h ig h e s t le v e l s in c e t h e s p r in g o f 1 9 3 2 . o f in d u s tr ie s in w h ic h th e r e h a d b e e n a r a p id r ise in p r e v io u s r e c e n t in c r e a s e in d o lla r s a le s r e fle c ts t o a la r g e e x t e n t a d v a n c in g p r ic e s. m o n th s . E m p lo y m e n t a n d w a g e p a y m e n t s w e r e la r g e r in A u g u s t T h e v o lu m e o f fr e ig h t s h ip p e d b y r a il d e c lin e d s lig h t l y d u r in g t h a n in J u ly . P r o d u c tio n a n d T h e F e d e r a l R e s e r v e B o a r d ’s s e a s o n a lly a d - E m p lo y m e n t j u s t e d in d e x o f in d u s tr ia l p r o d u c t io n , w h ic h h a d b e e n r is in g r a p id ly fo r s e v e r a l m o n th s , d e c lin e d fr o m 1 0 0 p e r c e n t o f t h e 1 9 2 3 - 1 9 2 5 a v e r a g e in J u ly t o 9 2 p e r c e n t in A u g u s t. T h e p r in c ip a l d e c r e a s e s w e r e in t h e p r im a r y t e x t il e in d u s tr ie s , in flo u r m illin g , a n d in o u t p u t o f s t e e l in g o t s w h ic h d e c lin e d fr o m 5 9 p e r c e n t o f c a p a c it y in J u ly t o 4 9 p e r c e n t in A u g u s t. The A v e r a g e d a ily o u t p u t o f a u t o m o b ile s d e c lin e d s o m e w h a t fr o m t h e le v e l o f J u ly . T h e r e w e r e in c r e a s e s d u r in g t h e m o n th in p r o d u c t io n o f p e tr o le u m , n o n -fe r r o u s m e ta ls , a n d c ig a r e t t e s ; a n d o u t p u t o f lu m b e r a n d c o a l in c r e a s e d s e a s o n a lly . D u r in g S e p t e m b e r , r e p o r ts in d ic a t e fu r t h e r r e d u c tio n s in o u t A u g u s t, o n a n a v e r a g e d a ily b a s is , a lt h o u g h a n in c r e a s e is u s u a l a t t h is t im e o f y e a r . C o m m o d it y P r ic e s T h e g e n e r a l a v e r a g e o f w h o le s a le c o m m o d it y p r ic e s flu c t u a t e d w it h in a n a r r o w r a n g e d u r in g A u g u s t a n d e a r ly S e p t e m b e r a t a le v e l a b o u t 17 p e r c e n t a b o v e t h e lo w p o in t o f la s t sp r in g . P r ic e s o f in d iv id u a l c o m m o d itie s s h o w e d d iv e r g e n t m o v e m e n t s , d e c r e a s e s b e in g r e p o r t e d fo r p r ic e s o f d o m e s t ic a g r ic u ltu r a l p r o d u c t s w h ile p r ic e s o f m a n y m a n u fa c tu r e d good s, te r ia ls , in c r e a se d . p e tr o le u m and o th e r in d u s tr ia l r a w m a D u r in g t h e s e c o n d a n d th ir d w e e k s o f S e p t e m b e r p r ic e s o f c o m m o d itie s in o r g a n iz e d m a r k e ts a d v a n c e d c o n s id e r a b ly . R e t a il p r ic e s o f f o o d c o n t in u e d t o a d v a n c e . p u t o f s t e e l a n d flo u r; p e tr o le u m p r o d u c t io n s la c k e n e d u n d e r n e w r e s tr ic tio n s , a n d o u t p u t o f lu m b e r d e c r e a s e d . I n c r e a s e s in e m p lo y m e n t b e tw e e n t h e m id d le o f J u ly a n d t h e F o r e ig n I n t h e fo r e ig n e x c h a n g e m a r k e ts t h e v a lu e o f t h e E xch ange d o lla r in te r m s o f t h e F r e n c h fr a n c d e c lin e d fr o m 7 5 m id d le o f A u g u s t, t h e la t e s t d a t e fo r w h ic h fig u r e s a r e a v a ila b le , w e re g e n e r a l in m o s t lin e s o f in d u s tr y , a n d t h e r e w e r e n u m e r o u s p e r c e n t o f it s g o ld p a r it y o n A u g u s t 15 , t o 6 5 p e r c e n t o n S ep tem b er 22. in c r e a s e s in w a g e r a te s a n d r e d u c tio n s in w o r k in g h o u r s . B ank A t m e m b e r b a n k s in 9 0 le a d in g c itie s , th e r e w a s a g r o w th C r e d it o f $ 2 0 0 ,0 0 0 ,0 0 0 in n e t d e m a n d d e p o s its in t h e fo u r w e e k s C om p a r e d w it h t h e lo w p o in t o f la s t s p r in g th e r e h a s b e e n a n e s t i m a t e d in c r e a s e o f 2 ,2 0 0 ,0 0 0 in n u m b e r o f in d u s tr ia l w a g e w o r k e r s. V a lu e o f c o n s tr u c tio n c o n tr a c ts a w a r d e d , a s r e p o r t e d t o t h e e n d in g S e p t e m b e r 13, f o llo w in g a d e c lin e o f $ 8 0 0 ,0 0 0 ,0 0 0 b e t w e e n t h e m id d le o f J u n e a n d t h e m id d le o f A u g u s t. M ore th a n F . W . D o d g e C o r p o r a tio n , in c r e a s e d in A u g u s t o w in g t o a w a r d s fo r p u b lic w o r k s, p a r tic u la r ly h ig h w a y s a n d b r id g e s ; c o n tr a c ts t o N e w Y o r k C it y B a n k s . fo r o th e r t y p e s o f c o n s t r u c t io n w e r e in s m a lle r v o lu m e t h a n in o f U n it e d S t a t e s G o v e r n m e n t s e c u r itie s f o llo w in g a n in c r e a s e in J u ly . In crea se t h e w e e k e n d in g A u g u s t 16, w h e n a n e w is s u e o f T r e a s u r y B o n d s o f $ 1 ,0 0 0 ,0 0 0 ,0 0 0 in g r o ss in c o m e o f fa r m e r s fo r t h e h a lf o f t h e r e c e n t in c r e a s e r e f le c t e d r e tu r n o f b a n k e r s ’ b a la n c e s B a n k s g r a d u a lly r e d u c e d th e ir h o ld in g s w a s s o ld , a n d o n S e p t e m b e r 13 th e ir h o ld in g s w e r e in a b o u t s a m e y e a r 1 9 3 3 is in d ic a t e d b y e s t im a t e s o f t h e U n it e d S t a t e s D e p a r t v o lu m e a s e a r ly in A u g u s t. m ent of c ia l lo a n s b o t h a t m e m b e r b a n k s in N e w Y o r k C it y a n d in o th e r le a d in g c itie s . ( C o n t i n u e d o n p a g e 7 .) A g r ic u ltu r e , p r im a r ily as a r e s u lt o f h ig h e r p r ic e s fo r c e r ta in fa r m p r o d u c t s , n o t w it h s t a n d in g s m a ll c r o p s o f g r a in s , h a y , a n d p o ta to e s. In d e x n u m b e r s o f p r o d u c t io n o f m a n u fa c t u r e s a n d m in e r a ls c o m b in e d a d j u s t e d f o r s e a s o n a l v a r i a t i o n s (1923-1925 a v e r a g e - 1 0 0 ) . L a t e s t f i g u r e A u g u s t 92. T h e r e w a s s o m e in c r e a s e in c o m m e r I n d e x n u m b e r s o f f a c t o r y e m p lo y m e n t a n d p a y r o lls , w it h o u t a d ju s t m e n t f o r s e a s o n a l v a r i a t i o n s (1923-25 a v e r a g e = 1 0 0 ). L a t e s t f i g u r e A u g u s t E m p l o y m e n t 73.4 p a y r o l l s 55.7. 2 M O N T H L Y PER CENT R E V IE W PCR CENT 120 1 110 RESERVE BANK CREDIT AND FACTORS IN CHANGES ------ 120 WHOLESALE PRICES 1----------- \ 6000 8000 - * \ >, p s s Farm Products 100 MILLIONS Of DOLLARS MILLIONS OF D O LLARS 90 90 do 80 10 70 60 60 50 50 40 40 Ii 1000 6000 M()ney inCirculation 5000 J ,V r v ‘ 7000 6000 k 5000 30 30 1928 1929 1930 1931 1932 1933 In d ex es o f t h e U n ite d S ta te s B u r ea u o f L ab or S ta tis tic s (1926—100). L a te st figures* A u g u st; F erm p r o d u cts 57.6; F o o d p r o d u cts, 64.8: O th er com m o d ities 74.1. Member Bank -----Fleserve Balances 2000 S IX T H D IS T R IC T SU M M A R Y A u g u s t s t a t is t ic s g iv e e v id e n c e o f im p r o v e m e n t in t h e v o lu m e --- - v * — 1000 1000 4000 4000 o f tr a d e a t b o t h r e t a il a n d w h o le s a le , in b u ild in g a n d c o n s t r u c t io n o p e r a tio n s , in t h e p r o d u c t io n o f c o a l, a n d in t h e p r o d u c t io n o f s o m e c r o p s. 1 3000 O p e r a tio n s a t t e x t il e m ills d e c lin e d , h o w e v e r , p ig ir o n p r o d u c t io n in A la b a m a d e c lin e d s lig h t l y b u t w a s n e a r ly fo u r t im e s Reseirve Bank Cre< AJ 2000 s/ a s la r g e a s in A u g u s t la s t y e a r , a n d a lt h o u g h lu m b e r p r o d u c t io n in c r e a s e d , o r d e r s r e c e iv e d b y t h e m ills d e c lin e d b e lo w t h o s e r e 2000 3000 K 2000 1000 1000 p o r t e d fo r t h e s a m e t im e la s t y e a r . D e p a r t m e n t s to r e s a le s in c r e a s e d 4 2 .6 p e r c e n t in A u g u s t o v e r J u ly a n d w e r e 2 3 .6 p e r c e n t g r e a te r t h a n in A u g u s t, 1 9 3 2 . 1929 In A p r il a n d M a y , a n d in J u ly a n d A u g u s t t h e in d e x n u m b e r o f d a ily 1930 1931 H32 1933 W ednesday fig u re s. L a te st fig u re s are for S ep t. 20. a v e r a g e s a le s , a ft e r a d j u s t m e n t fo r s e a s o n a l in f lu e n c e s , r o s e a n d t h e in d e x n u m b e r fo r A u g u s t is 5 7 .1 p e r c e n t a b o v e t h e lo w p o in t r e c o r d e d in M a r c h . W h o le s a le t r a d e h a s in c r e a s e d e a c h m o n th s in c e t h e lo w in F e b r u a r y , a n d A u g u s t s a le s b y 1 0 2 r e p o r t in g w h o le s a le fir m s w e r e 2 6 .9 p e r c e n t g r e a te r t h a n in A u g u s t la s t year. September 1st estimates by the United States Department of Agriculture indicate some improvement in production of tobacco, hay, oats and white potatoes in this district, but the estimates of cotton production in these six states declined 5 .1 per cent from August 1st to September 1st. B e t w e e n A u g u s t 9 a n d S e p t e m b e r 1 3 lo a n s a t w e e k ly r e p o r t in g m e m b e r b a n k s in c r e a s e d 1 .6 m illio n s o f d o lla r s a n d h o ld in g s o f G o v e r n m e n t S e c u r itie s in c r e a s e d b y 1 0 .8 m illio n s . A t th e F ed eral R e s e r v e B a n k o f A t la n t a d is c o u n t s fo r m e m b e r b a n k s in c r e a s e d 1 .6 m illio n s d u r in g t h is fiv e w e e k p e r io d a n d h o ld in g s o f G o v e r n m e n t S e c u r itie s r o s e 5 .8 m illio n s . Operations at reporting textile mills declined somewhat from July to August, and while production was considerably above the level of August last year, orders booked in August were much smaller than a year ago. Number of workers at reporting cotton mills declined less than one-half of one per cent from July 3 1 to August 3 1 , and was 6 7 .2 per cent greater than at the end of August, 1932. F IN A N C E T h e t o t a l v o lu m e o f r e s e r v e b a n k c r e d it o u t R eserv e C r e d it Bank s t a n d in g a t th e F ed era l R eserv e Bank of $ 5 ,6 5 1 ,0 0 0 on August 9 , the smallest volume of discounts held on any report date in many years. Discounts on September 13 were substantially less than at the same time last year. Holdings of Government securities have increased somewhat on each Wednes day except one since the latter part of May, and on September 13 were about 1 4 .6 millions greater than on May 1 7 , and 1 6 .6 millions greater than a year ago. Total bills and securities held on Septem ber 13 were larger than for any other Wednesday since May 1 7 , but were about 10.6 millions less than on the same report date in 1932. Federal Reserve note circulation increased slightly from August to September 13, and was about 11 millions greater than a year ago. Member bank reserve deposits declined 3 .3 millions between August 9 and September 1 3 , but were 1 1 .9 millions greater than at that time last year. Principal items in the weekly statement are compared in the table. 9 FE D E R A L R E SE RV E B A N K O F ATLANTA (000 O m itted) S ep t. 13, 1933 B ills D is c o u n te d : Secured b y G ovt. O bligatic A ll O th ers.................................. T o ta l D is c o u n ts ____ ______ B ills B o u g h t i n O p en M arket.. A t- la n t a e x p a n d e d b y a p p r o x im a t e ly 7 .4 m illio n s o f d o lla r s d u r in g t h e f iv e -w e e k p e r io d fr o m A u g u s t 9 t o S e p t e m b e r 1 3 , p a r t ly b e c a u s e o f a n in c r e a s e o f 1 .6 m illio n s in d is c o u n t s fo r m e m b e r b a n k s b u t p r in c ip a lly b e c a u s e o f in c r e a s e d F . R . B a n k N o te s in a c tu a l c ir cu la tio n -— R eserve R a tio ....................... - ................................. $ 762 6,529 7,291 214 63,191 70,696 109,370 52,722 63,311 117,461 1,843 66.6 A u g . 9, 1933 $ 290 5,361 5,651 239 57,397 63,287 127,280 56,049 62,894 116,190 2,130 71.1 S ep t. 14. 1932 $ 5,611 27,834 33,445 1,210 46,605 81,260 75,244 40,777 44,114 106,498 - - - 50.0 ' p u r c h a s e s o f U n it e d S t a t e s G o v e r n m e n t s e c u r it ie s b y t h is b a n k in c o o p e r a t io n w it h o t h e r F e d e r a l R e s e r v e B a n k s . T h is b a n k ’s h o ld in g s o f d is c o u n t e d p a p e r d e c lin e d fr o m a h ig h t o t a l a t t h e t im e o f t h e b a n k in g ^ h o lid a y o f 5 2 m illio n s o f d o lla r s t o Similar comparisons for the twelve Federal Reserve Banks com bined, showing a further decline in total discounts which was more than offset by increased holdings of United States Securities, and M O N T H L Y c h a n g e s in o th e r ite m s , b e t w e e n A u g u s t 9 a n d S e p t e m b e r 13, a r e s h o w n b e lo w . FED ER AL R ESERVE SYSTEM (000 O m itted) S ep t. 13, A u g . 9, 1933 1933 B ills D isco u n te d : --------------------------------; 37,412 Secured b y G ovt. O b lig a tio n s— 29,030 118,856 A ll O th ers........................................... 104,203 T o ta l D is c o u n ts ............ ........... 133,233 156,268 B ills u g h t in p en M arket 7,636 _ O ___________ 7,347 . B o____ U . S . S e cu rities............................................ 2,202,660 2,048,280 1,861 O th er S e c u r itie s.......................................... 1,789 2,214,045 T o ta l B ills a n d S e c u r itie s........ 2,345,029 3,577,787 T o ta l R eserves.............................................. 3,590,455 2,375,866 Member B a n k R eserve D e p o sits _____ 2,541,745 2,595,598 T o ta l D e p o sits.............................................. 2,745,047 2,999,245 F . R . N o te s in a c tu a l c ir c u la tio n — 2,989,123 F . R . B a n k N o te s in a c tu a l circu la 126,563 t io n ................................................................ 133,638 68.4 R eserve R a tio ................................................ 66.8 S ep t. 14, 1932 $ 144,299 257,704 401,933 33,726 1,850,927 5,426 2,292,012 2,832,627 2,243,816 2,298,610 2,789,123 61.2 Member Bank Credit There was an increase of approximately 13 millions of dollars in total loans and investments of 1 7 weekly reporting member banks in Atlanta, Birmingham, Jacksonville, Nashville, Chattanooga, Mobile and Savannah between August 9 and September 1 3 . Loans by these banks increased during this period by $ 1 ,6 4 7 ,0 0 0 , investments in United States Securities increased $ 1 0 ,8 2 6 ,0 0 0 , and holdings of other securities also rose somewhat. Time deposits held by these banks declined slightly during this five-week period, but demand deposits increased by 4 .9 millions of dollars. Compared with the corresponding report date of last year, loans on September 13 show a decline of 1 4 .7 millions; investments in United States Securities were larger than a year ago by 2 8 .4 millions, and holdings of other securities show an increase of 6 .9 millions. The decrease in total loans was more than offset by the increases in investment holdings, and total loans and investments therefore show an increase of 2 0 .5 millions over those for September 14, 1 9 3 2 . Time deposits held by these weekly reporting member banks on September 13 were nearly 3 millions less, but demand deposits were 3 .6 millions greater than at the same time a year earlier. Borrowings by these banks from the Federal Reserve Bank of Atlanta increased between August 9 and September 13 , but were substantially less than a year ago. Comparisons of principal items in the weekly report are set out in the table, which is followed by a comparison of savings de posits for August reported by a selected list of banks located throughout the district. was 4 .8 per cent, but the August total was still 8 .3 per cent greater than for that month in 1 9 3 2 . Six reporting cities showed in creases over July, and there were six decreases compared with August last year. Monthly totals shown 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. (000 O m itted) A u g . 1933 A labam a—4 C itie s.................................................. $ 89,172 B irm in gh am - - - .......................... .................. 52,197 ................. 1,821 22,294 M obile............................................—— ............ M o n t g o m e r y - ______________ - ............ 12,860 L oan s: $ 59,407 116,600 176,007 98,155 51,557 149,712 325,719 132,563 145,494 54,711 63,870 2,364 D em an d D< D u e to Bi B orrow in g s from F . R . B a n k - A u g . 9. 1933 S ept. 14. 1932 $ 58,850 115,510 174,360 87,329 51,051 138,380 312,740 134,507 140,605 55,067 59,867 585 $ 58,209 132,539 190,748 69,751 44,677 114,428 305,176 135,547 141,880 49,622 57,967 7,924 SA V IN G S D E PO SIT S OF 52 R E PO R T IN G B A N K S (000 O m itted) P e rcen ta g e c h a n g e A u g u st 1933 Com pared w ith : N o. of A u gu st J u ly A iig u st J u ly A u g u st Banks 1933 1933 1982 1933 1932 3 A tla n ta ............. B irm in gh a m — 3 J a c k s o n v ille ... 3 4 N a sh v ille .......... 4 N e w O r le a n s O th er C itie s— 35 52 T o ta l.............. - $ 28,478 16,194 13,074 20,880 22,101 56,547 157,274 Debits to Individual A ccounts $ 28,591 16,178 12,465 19,665 21,909 56,579 155,387 $ 31,347 17,304 12,952 23,083 26,986 57,588 169,260 -0 .4 + 0 .1 + 4 .9 + 6 .2 + 0 .9 -0 .1 + 1 .2 - 9.2 — 6.4 + 0.9 — 9.5 -1 8 .1 - 1.8 — 7.1 The v o lu m e o f d e b it s to in d iv id u a l a c c o u n t s a t 2 6 reporting clearing house centers of the Sixth District exhibited a belated seasonal decline from July to August after increasing each month since the banking holiday, through July. The decline from July to August J u ly 1933 A u g . 1932 $ 94,582 56,674 1,539 23,778 12,591 $ 80,127 48,785 1,312 18,968 11,062 69,364 38,781 11,719 4,672 14,192 77,281 42,078 14,190 4,798 16,215 68,067 36,949 11,509 4,011 15,598 G eorgia—10 C itie s....... ............ ........... — ............ 174,234 2,024 A lb a n y .............................................. ________ A tla n ta ............. ............— ...........- ............... . 108,328 A u g u s ta ............... ........................... ............. 13,510 B ru n sw ick ----------------------------1,612 7,768 C o lu m b u s----------------- ------------ ................. 395 E lb e r to n .......................................... ................. 10,114 M acon ............................................... ............— N e w n a n .................................... ....... — .......... 1,336 S a v a n n a h .......... — ...............— — ........ 24,003 5,144 V ald osta.......................................... ................. 180,167 2,093 111,046 15,447 1,620 8,049 398 11,192 1,536 26,579 2,207 150,567 2,105 92,433 11,095 1,509 6,769 441 11,213 981 21,713 2,308 L o u isia n a —N ew O rleans........... Florid a—4 C it ie s - - ............................. ................. J a ck so n v ille.................................................. M iam i___________ ________ P e n s a c o la ------- ---------------- . . . ________ ..................... ............. T am pa................. ________ 171,293 188,924 182,237 M ississippi—4 C itie s........................... ________ H a ttie sb u rg ................. -............ ________ J a c k s o n ............................. ............. ________ M eridian------- ----------------------- ________ V icksburg-------------------------- ................. 27,118 3,175 14,566 5,563 3,814 29,073 3,136 15,916 6,010 4,011 20,325 2,316 10,365 4,645 2,999 106,818 T en nessee—3 C itie s..........- ................ ..........— C h a tta n o o g a .................................. .................. 31,469 16,048 K n oxville......................................... ................. 59,301 N a sh v ille ....................... ................. ................. 100,016 24,449 15,531 60,036 87,539 22,777 17,157 47,605 T o ta l.......................................... .................. 637,999 670,043 588,862 AGRICULTURE The September crop report of the United States Department of Agriculture states that crop prospects improved 1 per cent from August 1 to September 1, but “yields are still expected to average nearly 7 per cent below those of last year, about 10 per cent below those of 1 9 3 1 , and about 8.1 per cent below those of the previous ten years. The acreage to be harvested is also relatively low.” In the table are shown comparisons of September estimates with 1 9 3 2 production of some of the principal crops, for the Sixth Dis trict and for the United States: C O N D IT IO N OF MEMBER B A N K S IN SELECTED C ITIES S ep t. 13, 1933 3 R E V IE W SEPTEM BER C R O P R E PO R T (In th o u sa n d s o f U n its) S ix th D istr ict U n ite d S ta te s E stim a te P r o d u ctio n E stim a te P r o d u ctio n S ep t. 1, 1933 1932 S ep t. 1, 1933 1932 W heat, b u ............. O ats, b u ................ T am e H ay, t o n s . T obacco, lb s ........ 154,285 2,992 8,161 2,032 162,609 11,282 146,661 3,063 10,469 2,105 99,242 10,545 2,284,799 506,557 687,647 65,290 1,361,745 293,585 2,875,570 726,283 1,238,231 69,794 1,015,512 357,679 There was a slight decline during August in the prospective production of corn in this district, but prospects for oats, hay and white potatoes improved, and the estimate for tobacco increased 15 per cent over that for August 1. In Alabama the estimates for corn, pecans, and fruits are better than 1 9 3 2 production, but other crops are expected to be smaller, excepting cotton, which is referred to in a separate paragraph. Florida estimates are higher than last year’s crops except for corn and pears. Georgia estimates indicate decreases compared with 1 9 3 2 in production of grains, except corn, white potatoes and sweet potatoes, but increases in fruits, nuts and a large in crease in tobacco. In Louisiana increases over 1 9 3 2 are shown in corn, hay, pecans and peanuts, potatoes and fruits, but de creases in sugar cane and sugar, rice, and oats. Mississippi esti mates are for larger crops of corn, pecans and fruits. In Tennessee prospects are for smaller crops of oats, rye, peanuts and sweet potatoes, but increases are shown for other crops. M O N T H L Y 4 L o s s o f c itr u s f r u it c a u s e d b y a s to r m w h ic h p a s s e d th r o u g h t h e h e a r t o f t h e c it r u s a r e a o f F lo r id a o n S e p t e m b e r 4 is e s t im a t e d a t 2 5 p e r c e n t o f g r a p e fr u it, a n d 1 0 p e r c e n t o f t h e o r a n g e s a n d t a n g e r in e s . A r e p o r t d a t e d S e p t e m b e r 13 b y t h e D e p a r t m e n t o f A g r ic u ltu r e s t a t e d t h a t “ f r u it is s t ill d r o p p in g a s a r e s u lt o f s to r m d a m a g e a n d s p lit t in g o f fr u it is in c r e a s in g f o llo w in g t h e h e a v y r a in s . T h e c r o p s t ill r e m a in in g o n t h e tr e e s is e a r lie r t h a n la s t y e a r a n d o f g o o d , a v e r a g e s iz e w h ile t h e q u a lit y p r o m is e s t o b e w e ll a b o v e t h e a v e r a g e .” C otton The September cotton estimate by the United States Department of Agriculture indicates a crop amounting to 1 2 ,4 1 4 ,0 0 0 bales, an increase of 1 0 0 ,0 0 0 bales over the estimate a month earlier. For the six states of this district there was an average decline of 5 .1 per cent from August 1 to September 1, fractional increases for Mississippi and Tennessee being offset by decreases for the other four states. Except in Louisiana and Tennessee the crop is expected to be greater than that of 1 9 3 2 , figures for the six states combined showing an increase of 7 .0 per cent. Comparisons of the September 1 estimate with that for Aug ust 1, and with production in 1 9 3 2 , are set out in the table. (In th o u s a n d s o f B ales) E stim a te E stim a te P ercen ta g e P r o d u ctio n P ercen tage S ep t. 1, A u g . 1, C om p a riso n 1932 C om p arison 1933 1933 A labam a___ F lo rid a ........ G eorgia -----L o u is ia n a M ississiDPi- 962 33 1,035 543 1,369 1,143 34 1,071 570 1,363 428 —15.8 — 2.9 — 3.4 — 4.7 + 0.4 + 0.9 947 17 854 611 1,180 480 + 1.6 +94.1 +21.2 —11.1 + 16.0 —10.0 R E V IE W RIC E MOVEMENT (N ew O rleans) R o u g h R ice—B arrels: A u g . 1933 J u ly 1933 A u g . 1932 81,451 R e ce ip ts............................................................... 30,502 1,794 .......... 80,543 S h ip m e n ts.......................................................... 52,015 2,313 18,401 S to ck s.................................................................. 8,944 30,457 C leanfR ice—P o ck ets : 102,207 R eceip ts............................................................... 66,848 31,856 96,345 S h ip m e n ts.......................................................... 86,933 50,130 104,676 S to ck s...............................................................- 135,266 155,351 RIC E M ILLERS’ A SSO CIA TIO N STATISTICS (Barrels) A u g u st _____ R eceip ts o f R o u g h R ice: S ea so n 1933-34.................................................................................................... 170,662 S ea so n 1932-33.................................................................................................... 293,364 D istr ib u tio n o f M illed R ice: S ea so n 1933-34.................................................................................................... 431,164 S ea so n 1932-33.................................................................................................... 620,759 S tock s: R ough C lea n A u g . 31, 1933........................................................................ 194,312 476,407 A u g. 31, 1932....................................................................... 245,853 761,171 Fertilizer Tag Sales A u gu st s a le s of fe r tiliz e r ta x ta g s in c r e a se d o v e r t h o s e in J u ly in a ll s t a t e s o f t h e d is tr ic t, b u t a d e c r e a s e o f 2 4 .3 p e r c e n t in F lo r id a , c o m p a r e d w ith A u g u s t 1 9 3 2 w a s r e s p o n s ib le fo r t h e d is tr ic t t o t a l s h o w in g a d e c r e a s e o f 6 .1 p e r c e n t c o m p a r e d w it h t h a t m o n th . A u g u s t fig u re s b y s t a t e s a r e c o m p a r e d in t h e ta b le . (S hort T o n s). A u g u st 1933 J u ly 1933 A u g u st 1932 400 1,200 850 23,005 17,404 6,666 1,881 1,113 G eo rg ia — 490 L o u is ia n a .. 1,350 950 450 M ississippi. 450 400 0 1,212 200 690 T o ta l................................................................... 23,497 10,179 25,035 TRADE R etail Trade D e p a r t m e n t s to r e s a le s a n d s t o c k s in t h e S ix t h D is t r ic t in c r e a se d in A u g u s t b y m o r e t h a n t h e s e a s o n a l a m o u n t , t h e c o lle c t io n r a t io im p r o v e d s o m e w h a t , b u t t h e p r o p o r t io n o f c a s h s a le s d e c lin e d . A u g u s t s a le s b y r e p o r t in g d e p a r tm e n t s to r e s in c r e a se d 4 2 .6 p e r c e n t o v e r t h o s e in J u ly , a n d w e r e 2 3 .6 Six S ta te s...................... U n ite d S ta te s .............. 4,374 12,414 4,609 12,314 — 5.1 + 0.8 4,089 13,002 + 7.0 — 4.5 p e r c e n t g r e a te r t h a n in A u g u s t 1 9 3 2 . O n a d a ily a v e r a g e b a s is t h e g a in f r o m J u ly t o A u g u s t w a s 3 1 .5 p e r c e n t a g a in s t a n in c r e a se More fertilizer per acre was used this year than last in all of the six states of this district. A larger number of acres planted to cotton was fertilized this year than last in all of the states except Louisiana, and a larger percentage of the cotton acreage was fer tilized this year than last except in Louisiana and Florida. A report issued early in September by the Agricultural Adjust ment Administration indicates the following reductions in acreage in cultivation on July 1 as a result of its campaign: o f 1 2 .6 p e r c e n t a t t h e s a m e t im e la s t y e a r , a n d c o m p a r e d w it h a u s u a l in c r e a se a t t h a t t im e o f y e a r o f 1 1 .4 p e r c e n t . r o s e in A u g u s t t o t h e h ig h e s t le v e l fo r a n y m o n th in t w o y e a r s a n d 5 7 .1 p e r c e n t a b o v e t h e in d e x fo r M a r c h t h is y e a r , t h e lo w p o in t in t h e se r ie s. S t o c k s o f m e r c h a n d is e o n h a n d a t t h e e n d o f A u g u s t w e r e 1 5 .2 p e r c e n t g r e a te r t h a n a m o n th e a rlier a n d a b o u t t h e s a m e a s a y e a r ago. N um b er o f A cres ....................................................... ....................................................... ....................................................... ....................................................... ....................................................... ....................................................... Six S ta te s ...................................................................... U n ite d S ta te s.............................................................. A la b a m a ... F lo rid a ........ G e o r g ia — L o u isia n a M ississip pi. 810,000 23,000 695,000 450,000 925,000 260,000 3,163,000 10,396,000 P ercen tage o f J u ly 1 acreage 25.0 18.9 24.2 24.9 23.5 22.3 24.1 25.5 SU G A R MOVEMENT—RAW SU G A R (P ound s) R eceip ts: A u g u st 1933 J u ly 1933 A u g u st 1932 N ew O rleans............................... 99,116,230 152,419,194 130,677,712 S a v a n n a h .................................... 19,169,214 28,155,193 26,724,802 M eltings: N ew O rleans............................... 130,278,039 111,080,039 128,717,280 S a v a n n a h .................................... 39,052,259 42,415,260 37,056,958 Stocks* N e w O rleans............................... 66,306,413 107,757,567 92,424,113 S a v a n n a h .................................... 61,574,217 81,457,262 84,550,340 R E FIN E D SU G A R (P ou n d s) S h ip m en ts: A u g u st 1933 J u ly 1933 N ew O rleans............................... 116,463,812 89,879,313 S a v a n n a h ......................... .......... 34,081,551 43,899,861 Stocks* N e w O rleans.............................. 82,065,465 72,000,187 S a v a n n a h .................................... 12,053,972 15,199,428 A lta n ta (5)............................. B irm ingh am (4).................. C h a tta n o o g a (4)................. N a sh v ille (4)......................... N e w O rleans (5).................. O th er C ities (14)................. D IS T R IC T (36).................... N o te : and A c c o u n t s r e c e iv a b le in c r e a se d 8 .5 p e r c e n t o v e r t h e m o n t h w ere 3 .8 p e r c e n t la r g e r t h a n a y e a r a g o , w h ile c o lle c t io n s d e c r e a s e d 2 .7 p e r c e n t fr o m J u ly t o A u g u s t b u t w e r e 8 .1 p e r c e n t la r g e r t h a n in A u g u s t 1 9 3 2 . T h e r a t io o f c o lle c t io n s d u r in g A u g u s t t o a c c o u n t s o u t s t a n d in g a n d d u e a t t h e b e g in n in g o f t h e m o n t h w a s 2 8 .0 p e r c e n t, c o m p a r e d w ith 2 6 .9 p e r c e n t fo r J u ly , a n d w it h 2 4 .7 p e r c e n t fo r A u g u s t la s t y ea r. F o r in s t a ll m e n t a c c o u n t s t h e r a t io fo r A u g u s t w a s 1 5 .5 p e r c e n t , fo r J u ly 1 4 .9 p e r c e n t , a n d fo r A u g u s t la s t y e a r 1 4 .0 p e r c e n t , a n d fo r r e g u la r a c c o u n t s t h e r a t io fo r A u g u s t w a s 2 9 .4 p e r c e n t, fo r J u ly 2 8 .2 p e r c e n t, a n d fo r A u g u s t a y e a r a g o 2 6 .1 w ere: per c en t. A t la n t a , C o lle c tio n r a tio s fo r r e p o r t in g c itie s fo r A u g u s t 2 4 .8 ; B ir m in g h a m , 1 9 .9 ; C h a tt a n o o g a , 2 7 .8 ; N a s h v ille , 2 5 .4 ; N e w O r le a n s, 3 9 .1 ; a n d O th e r C itie s , 2 3 .9 . C a sh s a le s a c c o u n t e d fo r 4 1 .2 p e r c e n t o f t h e A u g u s t t o t a l, c o m p a r e d w it h 4 6 .1 p e r c e n t fo r J u ly , a n d 4 4 p e r c e n t fo r A u g u s t, 1 9 3 2 . A ll o f th e s e s t a t is t ic s a r e b a s e d u p o n r e p o r t s in a c t u a l d o lla r A u g u st 1932 134,353,190 35,864,289 a m o u n ts , a n d t h e p e r c e n t a g e c o m p a r is o n s in t h e ta b le , a n d t h e 69,256,138 15,888,990 in d e x n u m b e r s o n p a g e 8 , m a k e n o a llo w a n c e fo r c h a n g e s in t h e le v e l o f p r ic e s. RETAIL TR AD E IN T H E SIX T H D IST R IC T D U R IN G A U G U ST 1933 BA SED O N CONFID EN TIA L R E PO R T S FRO M 36 DEPARTM ENT STO R ES COM PARISON O F N E T SALES COM PARISON O F STO C K S A u g u st 1933 A u g u st 1933 J a n . 1 t o A ug. 31, A u g u st 31,1933 A u g u st 31,: w ith w it h 1933, w it h sam e w it h w it h A ug. 1932 J u ly 1933 +24.5 + 62.2 — 9.8 +25.0 +14.2 + 26.7 +28.7 - 1 1 .9 - 8.3 + 10.6 + 32.1 + 2 9.8 - 1 1 .8 + 8.2 + 13.9 + 4 8 .8 + 91.5 + 0.9 — 1.9 + 5.7 + 12.1 + 3 3 .8 — 9.9 — 3.4 + 20.6 +29.4 +15.7 — 4.7 —15.0 + 15.5 +23.6 +42.6 — 8.5 + 0.1 + 15.2 T h e r a t e o f s t o c k t u r n o v e r is t h e r a t io o f s a le s d u r i n g g iv e n p e r io d t o a v e r a g e s t o c k s o n h a n d , A fte r a d j u s t m e n t fo r s e a s o n a l in f lu e n c e s t h e in d e x n u m b e r o f d a ily a v e r a g e s a le s R A TE OF ST O C K T U R N O V E R A u g u st A u g u st J a n . 1 t o A ug. 31, .35 .19 .15 .17 .20 .14 .21 .38 .30 .20 .28 .25 .22 .28 2.61 1.55 1.41 1.41 1.48 1.27 1.62 2.60 1.86 1.63 1.75 1.61 1.80 1.88 M O N T H L Y W h o le s a le M e r c h a n d is e T rad e firm s in t h e S ix th D is t r ic t h a s in c r e a se d e a c h m o n th d is tr ib u tio n s in c e F e b r u a r y . by r e p o r t in g w h o le s a le 5 R E V IE W C o m m e r c ia l F a ilu r e s A c c o r d in g t o s t a t is t ic s c o m p ile d a n d p u b lis h e d b y D u n & B r a d s t r e e t, I n c ., th e r e w e r e 1 ,4 7 2 b u s in e s s T h e g a in fr o m J u ly t o A u g u s t w a s fa ilu r e s in t h e U n it e d S t a t e s d u r in g A u g u s t, c o m 4 .5 p e r c e n t, a n d A u g u s t s a le s w e r e 5 9 .6 p er c e n t g r e a te r t h a n a t p a r e d w it h 1 ,4 2 1 in J u ly a n d 2 ,7 9 6 in A u g u s t la s t y e a r , a n d lia b ili t h e lo w p o in t in F e b r u a r y , a n d 2 6 .9 p e r c e n t la r g e r t h a n in A u g u s t t ie s fo r A u g u s t w e r e $ 4 2 ,7 7 6 ,0 4 9 c o m p a r e d w it h $ 2 7 ,4 8 1 ,1 0 3 fo r la s t y e a r . J u ly a n d $ 7 7 ,0 3 1 ,2 1 2 fo r A u g u s t, 1 9 3 2 . D r y g o o d s s a le s d e c lin e d in A u g u s t b u t o th e r lin e s in w e r e s m a lle r t h a n a I n t h e S ix t h D is t r ic t th e r e w e r e 5 7 b u s in e s s fa ilu r e s in A u g u s t, P e r c e n ta g e c o m p a r is o n s o f r e p o r te d fig u re s a re s h o w n th e s m a lle s t n u m b e r r e p o r t e d fo r a n y m o n th s in c e M a y , 1 9 2 6 , a n d c r e a s e d o v e r J u ly , a n d s a le s o f D r y G o o d s year ago. lia b ilit ie s fo r A u g u s t a m o u n t e d t o $ 1 ,6 3 2 ,8 1 8 , a n d w e r e m o r e t h a n in t h e ta b le , a n d in d e x n u m b e r s a p p e a r o n p a g e 8. P ercen ta g e C om parisons J a n .-A u g u st A u g . 1933 w ith : 1933 w ith J u ly A u g u st sam e period 1933 1932 in 1932 N o. o f Firm s A ll L in es C om bined: S a le s........................ ............ S to ck s o n h a n d .. .......... A c co u n ts receivab le— — . O nlleotlnps ___ G roceries: S a les..................................... A tla n ta ........................ J a ck so n v ille.............. N e w O rleans............. V icksburg................... O th er C itie s............. . S to ck s o n h a n d ............. A cco u n ts receivable— C o lle c tio n s........................ 102 30 51 55 + — + + 24 3 4 5 3 9 5 11 12 4.5 0.1 3.9 4.5 + 6.4 + 0.9 + 10.3 + 4.9 + 6.2 + 6.9 + 3.7 + 3.1 — 0.8 + 26.9 + 1.7 + 3.2 + 26.0 + + — + + + + — + 9.4 11.9 8.4 8.8 24.6 16.8 0.8 2.5 14.1 + 7.1 + 1.0 — 0.9 —15.1 + 2.7 +27.8 + 4.7 7,424 3,646 6,495 T o ta l......................... 17,565 - 3 4 .4 —31.6 —34.9 +13.7 + 1.2 — 2.8 — — + + + 5.0 12.0 3.6 28.7 13.5 40.2 +29.9 +18.4 +32.7 H ardw are: S a les.................................... N a sh v ille................... N ew O rleans............ O th er C itie s............. S to ck s o n h a n d ............. A c co u n ts receiv a b le-. . C o lle c tio n s___________ 26 3 5 18 8 16 16 +20.3 + 11.4 + 9.1 +28.6 - 8.9 + 5.2 +17.0 + + + + + + 60.2 27.3 48.1 74.5 4.1 3.7 35.3 +10.1 + 1.4 +18.7 + 7.7 F u rn itu re: S a le s ................................... A tla n ta ................... . O th er C it ie s ........... S to ck s o n h a n d ---------A c co u n ts receivable - . . C o lle c tio n s ___________ 9 4 5 6 7 6 +19.0 +12.2 +21.8 + 5.0 +11.9 +16.5 +141.8 +146.6 +140.1 + 0.1 + 10.8 +129.3 +11.4 +24.5 + 7.6 E lectrical S u p p lies: S a le s.................................... N ew O rleans............ O th er C itie s ............. S to ck s o n h a n d ............. A c co u n ts receivable— C o lle c tio n s....................... 13 4 9 3 4 4 + 7.6 +17.4 + 3.8 — 1.6 + 5.8 — 0.4 + 35.9 + 44.2 + 32.7 — 22.7 + 7.9 + 20.3 + 9.0 —10.8 +18.6 D rugs: S a le s.................................... A cco u n ts receivab le.— C o lle c tio n s ___________ 8 4 5 +13.2 + 0.2 + 3.8 + 8.9 —10.6 + 1.8 — 9.1 S ta tio n e r y : S a le s........................ - ......... 4 + 14.3 + —25.6 93,990 3,092 29,421 26,090 17,404 19,053 220,719 13,635 79,921 44,982 126,503 62,547 314,275 IN D U S T R Y B u ild in g T o t a l v a lu e o f p e r m its fo r t h e c o n s t r u c t io n o f b u ild - P e r m it s in g s w it h in t h e c o r p o r a te lim it s o f t w e n t y r e p o r t in g c it ie s in c r e a s e d 9 3 .1 p e r c e n t in A u g u s t o v e r J u ly , w a s g r e a te r t h a n fo r a n y o th e r m o n th s in c e la s t O c to b e r , a n d w a s 5 1 .4 T e n o f t h e s e c it ie s r e 7.9 A u gu st a year ago. th e sa m e p a r t of 1932. C o m p a r is o n s fo r t h e m o n t h a r e s h o w n in t h e t a b le . N um b er A u g u st C ity 1933 1932 A lab am a; 7 5 A n n isto n .......... 125 B ir m in g h a m -. 100 53 26 M obile............... M ontgom ery— 102 90 F lorida: 333 Jack son ville— 460 M ia m i............... 257 257 28 M aim i B ea c h — 30 45 36 O rlan d o ............ T am pa............... 157 240 G eorgia: 172 231 A tla n ta ............. 44 56 A u g u s ta ............ 64 C o lu m b u s........ 29 182 244 M acon............... S a v a n n a h ........ 27 23 L o u isia n a : N ew O r le a n s.. 101 118 A lexandria— 92 44 T en nessee: 218 125 C h a tt a n o o g a J o h n so n C ity . 0 3 46 21 K n oxville.......... 138 N a sh v ille .......... 126 T o ta l 20 C i t i e s - - 2,364 2,091 C o n tr a c t A w ard s t iv e ly la r g e J u ly t o t a l, s a le s o f life in s u r a n c e in t h e s ix s t a t e s o f th is d is tr ic t a v e r a g e d 7 p er c e n t le s s in I n c r e a s e s o v e r A u g u s t, 1 9 8 2 , in T e n n e s s e e a n d G e o r g ia w e r e s u ffic ie n t to m a k e t h e t o t a l fo r t h e s ix s t a t e s 3 .2 p e r c e n t g r e a te r t h a n a y e a r a g o . F o r t h e e ig h t m o n th s o f 1 9 3 3 t o t a l v a lu e o f p e r m its h a s b e e n $ 9 ,3 9 2 ,5 7 0 , s m a lle r b y 1 6 .7 p e r c e n t t h a n d u r in g B e c a u s e o f a d e c r e a s e in M is s is s ip p i fr o m t h e r e la - A u g u s t t h a n in J u ly . 18,666 13,758 12,558 p o r te d in c r e a s e s o v e r J u ly a n d th e r e w e r e t h ir t e e n in c r e a s e s o v e r 16 3 13 8 9 11 In su ra n ce W heat............................... C o m ................................. O a ts.................................. p e r c e n t la r g e r t h a n fo r A u g u s t la s t y e a r . D ry G oods: Sa les..................................... N a sh v ille..................... O th er C ities........... . S to ck s o n h a n d ............. . A cco u n ts receivable— C o lle c tio n s........ .............. L ife d o u b le t h e s m a ll t o t a l r e p o r te d fo r J u ly b u t s m a lle r t h a n fo r A u g u s t o f a n y y e a r s in c e 1 9 2 8 . G R A IN E X P O R T S -N E W ORLEANS (B ushels) A u g u st J u ly A u g u st J u ly 1—A u g. 31, 1933 1933 1932 1933 1932 M is s is s ip p i s h o w s th e o n ly g a in fo r t h e e ig h t m o n th s o f 1 9 3 3 o v e r t h a t p e r io d la s t y e a r , a s s e t o u t in t h e fig u r e s b e lo w t a k e n fr o m t h o s e c o m p ile d b y th e L ife I n s u r a n c e S a le s R e s e a r c h B u r e a u . V a lu e A u g u st 1933 $ 23,563 41,653 32,268 39,229 1932 $ 8,825 41,813 23,895 31,628 P ercen ta g e ch a n g e in valu e + 167.0 0.4 + 35.0 + 24.0 220,395 252,493 124,375 11,706 32,493 110,965 135,957 151,592 27,770 43,502 + + — — 98.6 85.7 18.0 57.8 25.3 85,046 22,199 19,314 26,788 35,389 75,072 16,514 9,325 333,366 14,703 + + + — + 13.3 34.4 107.1 92.0 140.7 196,469 42,304 364,536 16,694 — 46.1 + 153.4 34,362 0 57,783 1,015,147 2,312,976 21,242 750 18,824 81,060 1,528,023 + 61.8 - 100.0 + 207.0 +1152 3 + 51.4 T o t a l v a lu e o f c o n tr a c ts a w a r d e d in t h e S ix t h D is t r ic t d u r in g A u g u s t, a c c o r d in g t o s t a t is t ic s c o m p ile d b y t h e F . W . D o d g e C o r p o r a tio n a n d d u b d iv id e d in t o d is tr ic t t o t a ls b y t h e F e d e r a l R e s e r v e B o a r d ’s D iv is io n o f R e s e a r c h a n d S t a t is t ic s , in c r e a s e d 2 1 .6 p e r c e n t o v e r J u ly , b u t w a s 4 3 p e r c e n t le s s t h a n fo r A u g u s t la s t y e a r . R e s id e n t ia l c o n tr a c ts w e r e le s s t h a n fo r a n y m o n th s in c e F e b r u a r y , b u t 3 4 .8 p e r c e n t g r e a te r t h a n a y e a r a g o , a n d o th e r c o n tr a c ts w e re t h e la r g e s t s in c e J a n u a r y a lth o u g h le s s t h a n h a lf a s la r g e a s in A u g u s t, 1 9 3 2 . F o r t h e e ig h t m o n th s o f 1 9 3 3 t o t a l c o n tr a c ts in t h is d is tr ic t h a v e b e e n 1 6 .8 p e r c e n t, r e s id e n t ia l c o n tr a c ts 0 .5 p e r c e n t, a n d A u g u st 1933 A la b a m a ---.......... $ F lo rid a — .......... G eorg ia ................... L o u is ia n a ______ M ississip p i______ T en n essee ............ (000 O m itted) J u ly A u g u st J a n .-A u g ., In c. P ercen tage 1933 1932 1933 1932 C om parison 3,657 3,804 6,147 4,039 1,894 6,287 $ 3,222 3,643 6,196 3,954 5,194 5,559 T o t a l.- ............ $25,828 $27,768 $ 3,693 3,819 5,837 4,302 2,087 5,294 $25,032 $ 27,923 28,833 46,153 30,742 18,617 44,435 $ 30,942 34,592 56,434 35,597 17,943 49,416 - 9.8 —16.6 —18.2 —13.6 + 3.8 - 1 0 .1 $196,703 $224,924 -1 2 .5 o th e r c la s s e s o f a w a r d s 2 1 .5 p e r c e n t, le s s t h a n in t h a t p a r t o f la s t year. I n t h e 3 7 s t a t e s e a s t o f t h e R o c k y M o u n t a in s , a w a r d s fo r p u b lic w o r k s a n d u t ilit ie s in c r e a s e d s u b s t a n t ia lly fr o m J u ly t o A u g u s t, a n d r e s id e n t ia l c o n tr a c ts w e r e s o m e w h a t g r e a te r t h a n in A u g u s t la s t y e a r . F o r t h e e ig h t m o n th s p e r io d t o t a l a w a r d s h a v e b e e n 3 3 .2 p e r c e n t le ss t h a n d u r in g t h e s a m e p e r io d in 1 9 3 2 . M O N T H L Y 6 A u g u st 1933 S ix th D is tr ic t -T o ta lR e sid e n tia l............. A ll O th ers............... S ta te T otals: A labam a................... F lo rid a ..................... G eorgia.................... L o u is ia n a ................ M ississip p i.............. T en n essee (6th D is t.).................. U n ited S ta tes—T o ta l R esid en tia l............. N o n -R e s id e n tia l.. P u b lic Works a n d U tilitie s ............ Lumber W e e k ly $ 8,277,027 1,039,116 7,237,911 — 43.0 + 34.8 — 54.2 633,600 1,043,400 3.564.200 2,346,300 1.609.200 — 64.5 1.058.500 641,500 + 65.0 523,100 106,131,100 82,693,100 + 28.3 133,988,100 21,937,000 23,630,400 — 7.2 20,766,800 32,796,600 40,121,900 — 18.3 49,071,100 +102.4 306,700 1,005,500 1,134,000 964,600 169,900 — 26.6 + 4.6 — 24.8 + 91.2 +105.5 + 0.8 — 76.1 — 21.4 — 78.3 A ug. 1933 58,188 111,865 11,797 60,428 111,989 11,906 46,600 76,196 11,012 T o ta l........................................... ................ 181,850 184,323 134,608 C otton M anufacturing A u g u s t p r o d u c t io n o f b o t h c lo th a n d y a r n b y r e p o r t in g m ills in t h e S ix t h D is t r ic t d e c lin e d in c o m p a r is o n w it h o u t p u t in J u ly , b u t c o n tin u e d — 20.8 + 5.6 — 33.2 J u ly 1933 A u g u st 1032 A lab am a .............. - ........................................... G eorgia......... — ........................ - ...................... T en n e sse e .......................................................... t o b e s u b s t a n t ia lly a b o v e t h e s a m e m o n th la s t y e a r . V o lu m e o f o r d e rs b o o k e d b y b o t h c la s s e s o f m ills d e c lin e d fo r t h e th ir d c o n 51,397,500 18,940,800 +171.4 sta te m e n ts of th e 64,150,200 — 19.9 S o u th e r n P in e A s s o c ia tio n a n d r e p o r ts in t h e p r e ss in d ic a t e a c o n s id e r a b le fa llin g o ff in t h e d e m a n d fo r lu m b e r in r e c e n t w e e k s . r e p o r tin g COTTO N C O NSUM PTIO N—B ales J u ly P ercen ta g e A u g u st P ercen tage 1933 C om p arison 1932 C om parison 4,718,979 $ 3,880,108 + 21.6 1,400,810 1,717,646 — 18.4 3,318,169 2,162,462 + 53.4 225,000 1,051,800 852,800 1.844.500 349,100 R E V IE W m ills d u r in g A u gu st and e a r ly O rd ers b o o k e d b y S ep tem b er w e r e w e ll s e c u t iv e m o n th a n d w a s le s s t h a n fo r A u g u s t, 1 9 3 2 . N u m b er of w o r k e r s a t c lo t h m ills d e c lin e d s lig h t l y fr o m J u ly 31 t o A u g u s t 3 1 , b u t a t y a r n m ills e m p lo y m e n t in c r e a s e d , a n d in c r e a s e s o v e r t h e s a m e t im e la s t y e a r a r e s h o w n in b o t h in s t a n c e d . P e r c en ta g e c o m p a r is o n s o f r e p o r te d fig u r e s a r e s e t o u t in t h e t a b le . b e lo w t h o s e r e p o r te d fo r J u n e a n d J u ly , a n d fo r t h e s ix w e e k s e n d e d S e p t e m b e r 9 o r d e rs a v e r a g e d 2 1 .5 p e r c e n t le s s t h a n fo r t h o s e w e e k s a y e a r a g o , a lt h o u g h p r o d u c t io n o f r e p o r t in g m ills a v e r a g e d 4 6 .6 p e r c e n t la r g e r t h a n d u r in g t h a t p e r io d la s t y e a r . D u r in g th is s ix w e e k s p e r io d o r d e r s a v e r a g e d 1 0 .6 p e r c e n t le s s t h a n p r o d u c t io n b y t h e id e n t ic a l r e p o r t in g m ills , w h ile a t t h e s a m e t im e a y e a r a g o o r d e r s a v e r a g e d 6 6 .9 p e r c e n t g r e a te r t h a n th e ir o u t p u t . W e e k ly fig u re s fo r r e c e n t w e e k s a r e c o m p a r e d in t h e ta b le . (In t h o u sa n d s o f feet) Week N um b er Orders P r o d u ctio n U n fille d Orders E n d ed 1933 1932 o f M ills 1933 1932 1933 1932 A u g u st 5.................... . A u g u st 12..................... A u g u st 19.................... A u g u st 26.................... Septem ber 2-.............Septem ber 9.............. . 98 102 106 97 97 96 27,723 24,355 23,550 27,339 26,047 21,859 20,112 28,330 39,200 34,985 38,039 31.608 27,310 31,077 32,421 27,269 24,612 26,006 18,234 18,572 20,791 18,860 19,630 19,000 73,445 73,530 68,447 68,942 70,184 61,540 54,138 55,879 66,668 65,910 78,015 74,805 Cotton Consum ption Consumption of cotton by American Mills declined 1.9 per cent from July to August, but was 4 5 .5 per cent greater than in August, 1932. Mills in the cotton-growing states consumed 3.9 per cent less cot ton in August than in July, but in other states there was an in crease of 6.3 per cent. Compared with August a year ago, con sumption in the cotton states increased 37.1 per cent, and in other states 88.9 per cent. Stocks held by consuming establishments declined from July to August but were somewhat larger than a year ago, while those in storage and at compresses increased over the month but were smaller than at the same time last year. Exports declined 23.3 per cent from July to August but were 17.4 per cent greater than in August, 1932. Active spindles increased slightly in the cotton states over the month before, but declined in other states, and for the country were 17.5 per cent more than in August last year. Census Bureau figures are compared in the table. CO TTO N C O N SU M PT IO N , E X P O R T S. ST O C K S A N D SP IN D L E S ACTIVE Source: U n ite d S ta te s C en su s B u rea u U N IT E D STATES—B a les A ug. 1932 A u g. 1933 J u ly 1933 600,143 404,497 C o tto n C on su m ed ................................. 588,570 S to ck s................................................. 6,945,476 7,090,133 7,657,163 1,351,033 1,087,967 1,159,897 I n C on su m in g E sta b lish m en ts I n P u b lic Storage an d a t Com 6,569,196 5,739,100 p resses......................................... 5,785,579 692,007 452,154 E xports....................................................... 530,627 11,941 7,233 Im ports....................................................... 9,881 26,069,158 22,022,490 A ctive S p in d les—N u m b er .................. 25,884,704 >—B aales CO TTO N GROW ING STATES—B les C o tto n C on su m ed ................................. 464,343 483,230 6,358,208 S to ck s......................................................... 6,253,549 1,031,994 I n C o n su m in g E st a b lish m en ts 853,377 I n P u b lic Storage a n d a t Com 5,326,214 presses.......................................... 5,400,172 17,687,412 A ctive S p in d le s—N u m b er........ . 17,719,278 O TH E R STATES—B a les 116,913 C o tto n C on su m ed ................................. 124,227 731,925 S to ck s......................................................... 691,927 319,039 I n C o n su m in g E sta b lish m e n ts 306,520 I n P u b lic S torage a n d a t C om 412,886 presses.......................................... 385,407 8,381,746 A ctive S p in d les—N um b er................... 8,165,426 338,750 6,949,649 826,034 6,123,615 16,243,922 65,747 707,514 261,933 445,581 5,768,568 In the three states of this District for which Census Bureau figures are compiled, August consumption of cotton was 1.3 per cent less than in July but 35.1 per cent greater than in August last year. Figures for these states are compared below: P e rcen ta g e c h a n g e N um ber o f A ug. 1933 com pared w ith J u ly 1933 A u g. 1932 C o tto n C loth : M ills +40.8 P r o d u c t io n ...................... . ___ _______ 19 —17.0 —39.8 - 8.6 S h ip m e n ts___________________________ 17 Orders b o o k ed _______________________ 14 —27.7 —65.2 U n fille d orders___________ ___________ 16 —22.3 —25.9 S tock s o n h a n d ___ __________________ 16 + 16.6 —27.2 N um b er on p a y r o ll----------- ___________ 17 - 1.5 +59.1 C o tto n Y a m : P r o d u c tio n ----------------------- ___________ S h ip m e n ts ________________ ___________ Orders b o o k ed ____________ ___________ U n fille d orders___________ ___________ S tock s o n h a n d ---------------- ___________ N um b er on p a y r o ll----------- ___________ Cotton Seed and Cotton Seed Products R e c e ip t s of 13 13 6 10 12 11 c o tto n +45.4 +25.6 —46.5 -2 0 .1 —44.0 + 88 4 - $.8 —25.3 —16.5 —12.4 + 3.1 + 2.2 seed at m ills and th e a m o u n t c r u s h e d , b o t h in t h is d is tr ic t a n d in t h e U n it e d S t a t e s a s a w h o le , w e r e g r e a te r d u r in g A u g u s t, t h e fir s t m o n th o f t h e n e w c o tto n sea so n , th a n d u r in g A u g u s t, 1932, and sto c k s o f seed h e ld b y t h e m ills in t h is d is t r ic t w e r e la r g e r , b u t fo r t h e c o u n t r y a s a w h o le s m a lle r , t h a n a y e a r a g o . P r o d u c t io n o f c o m m o d itie s f r o m c o t t o n s e e d w a s g r e a te r t h a n a y e a r a g o , a n d s t o c k s o f c r u d e o il a n d o f c a k e a n d m e a l w e r e la r g e r , b u t t h o s e o f h u lls a n d lin g er s s m a lle r . C o m p a r is o n o f a v a ila b le fig u r e s a r e s h o w n in t h e t a b le . COTTO N SEED A N D C O TTO N SE E D P R O D U C T S C o tto n Seed, T on s: R eceived a t m ills ................ C ru sh ed ................................... O n H a n d , A u g . 31.............. ♦S ixth D istr ic t U n ite d S ta te s A u g . 1933 A u g . 1932 A u g . 1933 A u g . 1932 118,409 37,223 232,646 61,267 28,898 233,223 152^826 43,900 220,306 265,1607 34,402 31,214 P r o d u ctio n : C rude O il, lb s ..................... C ake a n d Meal, t o n s ........ H u lls, t o n s ............................ L in ters, b a le s ....................... 13,459,644 19,341 12,482 6,495 ** ** ** ** 70,878,254 106,632 65,254 38,093 46,011,638 70,907 43,587 21,549 7,711,077 40,384 16,455 18,360 ** ** 38,551,869 178,853 98,142 70,376 18,110,824 98,714 136,000 207,846 S to ck s a t m ills, A u g. 31 C rude O il, l b s . .. .................. C ake a n d M eal, t o n s -----H u lls, to n s ............................. L inters, b a le s....................... ** ♦G eorgia, A lab am a a n d L o u isia n a . ♦♦Not availab le. Electric Power A fte r in c r e a s in g in M a y a n d J u n e t o t h e h ig h e s t le v e l s in c e O c to b e r , 1 9 3 0 , p r o d u c t io n o f e le c t r ic p o w e r b y p u b lic u t i l i t y p o w e r p la n t s in t h e s ix s t a t e s in c lu d in g t h e S ix t h D i s t r i c t d e c lin e d b y o n e - f if t h o f o n e p e r c e n t in J u ly , b u t w a s 1 8 .5 p e r c e n t g r e a t e r t h a n in J u ly , 1932. F or th e sev e n m o n t h s p e r io d , J a n u a r y t h r o u g h J u ly , 1 9 3 3 , p r o d u c t io n h a s b e e n 1 .0 p e r c e n t g r e a t e r t h a n in t h a t p a r t o f 1 9 3 2 b e c a u s e o f r e c o r d e d fo r A la b a m a a n d G e o r g ia . in c r e a s e s D u r in g t h is p e r io d p r o t e c t i o n b y u s e o f w a te r p o w e r w a s 4 .2 p e r c e n t g r e a te r , b u t o u t p u t b y u s e o f f u e ls 4 .7 p e r c e n t s m a lle r , t h a n in t h a t p a r t o f la s t y e a r . O f t o t a l p r o d u c t io n , 6 6 .3 p e r c e n t h a s b e e n b y u s e o f w a te r p o w e r t h is y e a r a s c o m p a r e d w it h 6 4 .3 p e r c e n t l a s t y e a r . t a b le F ig u r e s in t h e a r e fr o m t h o s e c o m p ile d b y t h e U n it e d S t a t e s G e o lo g ic a l S u rvey. M O N T H L Y PR O D U C T IO N O F ELECTRIC POWER (000 k . w . h o u rs) J u ly June 1933 1933 A la b a m a .................................................. 163,786 185,246 45,869 47,229 F lo rid a ..................................................... G eorgia.................................................... 93,857 77,484 L o u isia n a ............................................... 109,949 106,818 M ississip pi.............................................. 4,034 3,718 T en n essee................................................ 89,192 87,248 T o ta l.................................................. 506,687 507,743 B y u se of: W aterP ow er.................. 323,606 326,704 F u els................................. 183,081 181.039 J u ly 1932 136,259 45,928 69,256 87,580 4,391 84,183 427,597 267,569 160,028 F u els C onsum ed in P ro d u ctio n o f E lectric Pow er: C o a l—t o n s ....................................... 9,564 9,371 F u e l Oil—b b ls ............................... 187,988 187,901 N a tu r a l G a s -0 0 cu . f t ............... 2,200,340 2,086,321 N o te : J u ly fig u re s p relim in ary—J u n e fig u re s s lig h tly revised. 9,721 183,590 1,820,408 B itu m inou s Coal M ining Production of bituminous coal in the United States, and in Alabama and Tennessee, the coal producing states of this district, has increased each month since the low point was reached in April. Preliminary figures for August, compiled by the United States Bureau of Mines, indicates a gain of 14.8 per cent from July to August, when pro duction was 73.4 per cent greater than in April and 50.5 per cent greater than in August last year. August preliminary figures are compared in the table with certain previous months: T o ta l P r o d u ctio n (to n s) N um b er o f A verage p er w o r k in g w o r k in g d a y days (ton s) A u g u s t 1933............................................ 33,910,000 J u ly 1933............. ..................................... 29,482,000r A pril 1933................. . ............................. 19,423,000 A u g u s t 1932............................................ 22,489,000 r -r e v ise d . 27 25 24.7 27 1,256,000 1,179,000 790,000 833,000 R E V IE W 7 C u m u la te d t o t a ls o f p r o d u c t io n in t h e fir st e ig h t m o n th s o f 1 9 3 3 a m o u n t fo r t h e U n it e d S t a t e s t o 8 ,0 6 6 ,8 3 9 to n s , a n in c r e a se o f 2 8 .6 p e r c e n t o v e r o u t p u t in t h a t p a r t o f 1 9 3 2 , a n d fo r A la b a m a p r o d u c t io n fo r t h e e ig h t m o n t h s p e r io d t o t a le d 4 6 9 ,9 2 3 t o n s , s m a lle r b y 3 .8 p e r c e n t t h a n in t h e s a m e p e r io d a y e a r a g o . P ro d u ctio n —T o n s T o ta l D a ily Average U n ited S ta tes: A u g u st 1933.......................... J u ly 1933................................ . A u g u st 1932.......................... .. A labam a: A u g u st 1933.......................... J u ly 1933............................... A u g u st 1932.......................... ♦First o f fo llo w in g m o n th . N a v a l S to re s R e c e ip t s of 1,833,394 1,792,452 530,576 59,142 57,821 17,115 98 106 42 120,237 122,308 23,292 3,879 3,945 751 8 9 2 b o th t u r p e n t in e A labam a 1933 1932 r o s in at th e c lin e d s o m e w h a t fr o m J u ly t o A u g u s t, b u t r e c e ip t s o f t u r p e n t in e w e r e 1 9 .7 p e r c e n t , a n d o f r o s in 1 4 .1 p e r c e n t , g r e a te r t h a n in A u g u s t, 1 9 3 2 , w h e n r e c e ip t s o f b o t h c o m m o d itie s w e r e t h e s m a lle s t fo r a n y A u g u s t in a n u m b e r o f y e a r s . S t o c k s o f b o t h c o m m o d it ie s c o n t in u e s m a lle r t h a n a t t h e s a m e t im e la s t y e a r . P r ic e s o f tu r p e n t in e flu c t u a t e d w it h in a n a r r o w r a n g e b e tw e e n e a r ly A u g u s t a n d t h e m id d le o f S e p t e m b e r . T h e r e w a s s o m e s t r e n g t h e n in g o f t h e q u o t a t io n s fo r r o s in d u r in g t h e la t t e r p a r t o f A u g u s t a n d fir s t fe w d a y s o f S e p t e m b e r , a n d d e c lin e s o n S e p t e m b e r 6 t h w e r e a lm o s t r e c o v e r e d b y t h e c lo s e o f t h a t w e e k . R eceip ts—T u r p e n tin e (1): R e c e ip t s a n d s t o c k s a r e P e n sa c o la . N AVAL STO R E S A ug. 1933 16,334 12,353 . 4,550 R eceip ts—R o sin (2): S a v a n n a h .............. T en n essee 1933 1932 88 79 73 90 92 44 45 50 54 59 S t a t is t ic s c o m p ile d a n d p u b lis h e d b y t h e I r o n A g e in d ic a t e t h a t t h e p r o d u c t io n o f p ig ir o n in c r e a s e d in A u g u s t fo r t h e fifth c o n s e c u t iv e m o n th . T h e g a in o v e r J u ly o u t p u t w a s 2 .3 p e r c e n t, a n d A u g u s t P r o d u c t io n w a s n e a r ly th r e e a n d o n e -h a lf tim e s a s la r g e a s in A u g u s t la s t y e a r . T o ta l............................. B arrels o f 50 g a llo n s. B arrels o f 500 p o u n d s. J u ly 1933 A u g . 1932 17,122 12,347 13,362 11,652 4,781 3,771 . 33,237 35,265 27,770 . 53,825 46,038 13,244 59,562 52,120 12,295 46,875 40,146 12,127 113,107 123,977 99,148 . 18,315 34,791 21,814 14,212 36,676 19,563 16,331 45,422 24,714 . S tock s—T u r p e n tin e (1): 122 132 121 143 151 S to ck s—R o sin (2) : Pig Iron Production and t h r e e p r in c ip a l m a r k e ts o f t h e S ix t h D is t r ic t d e (T ons) 216 197 207 212 218 F u rn a ces Active* c o m p a r e d in t h e ta b le . Weekly figures indicate that production in Alabama increased about 12 per cent in August over July and was 56.7 per cent greater than a year ago, and output in Tennessee increased about 15 per cent over July and was 68 per cent greater than inAugust, 1932, comparisons for recent weeks being shown below: Week E n d ed : C o m p a r is o n s fo r t h e m o n t h a r e s h o w n in t h e t a b le . 74,920 70,451 86,467 116,344 98,605 - 12,994 115,559 104,578 14,441 189,400 180,353 16,911 227,943 234,578 386,664 T h e n u m b e r o f fu r n a c e s a c t iv e o n S e p t e m b e r 1 s t d e c lin e d b y 8 c o m p a r e d w it h a m o n th e a rlier , b u t w a s tw o a n d o n e -t h ir d t im e s t h e (C o n t in u e d fr o m p a g e 1 .) M e m b e r b a n k b a la n c e s a t t h e F e d e r a l R e s e r v e B a n k s c o n t in u e d n u m b e r a c t iv e a t t h e s a m e t im e a y e a r a g o . I n A la b a m a th e r e w a s a d e c lin e o f 1 .7 p e r c e n t in p ig ir o n p r o t o in c r e a se d u r in g A u g u s t a n d t h e fir st t h r e e w e e k s o f S e p t e m b e r , d u c t io n fr o m J u ly t o A u g u s t, b u t A u g u s t o u t p u t w a s a lm o s t fo u r a n d e x c e s s r e s e r v e s o f m e m b e r b a n k s r e a c h e d $ 7 0 0 ,0 0 0 ,0 0 0 . t im e s t h a t o f A u g u s t, 1 9 3 2 , t h e lo w e s t le v e l s h o w n fo r a n y m o n th in c r e a se r e f le c t e d p r im a r ily a d d it io n a l p u r c h a s e s o f G o v e r n m e n t in a v a ila b le fig u r e s . s e c u r itie s b y t h e F e d e r a l R e s e r v e B a n k s , w h ic h h a v e a v e r a g e d T h e r e w a s a d e c r e a s e o f 1 in t h e n u m b e r o f T h is fu r n a c e s a c t iv e fr o m A u g u s t 1 t o S e p t e m b e r 1. P r e ss r e p o r ts in $ 3 5 ,0 0 0 ,0 0 0 a w e e k s in c e A u g u s t 16 . d ic a te t h a t t h e p r ic e o f ir o n w a s a d v a n c e d fr o m $ 1 3 .0 0 t o $ 1 3 .5 0 u s u a lly in c r e a s e s a t t h is s e a s o n h a s s h o w n l i t t l e c h a n g e in t h e p a s t m o n th , in d ic a t in g a c o n tin u e d r e t u r n fr o m h o a r d s. p e r t o n t h e la t t e r p a r t o f A u g u s t, a n d b o o k s fo r t h e fo u r t h q u a r te r w e r e o p e n e d o n S e p t e m b e r 1 a t t h a t q u o t a t io n . A u g u s t s h ip m e n ts w e r e s lig h t l y b e h in d t h o s e o f J u ly b e c a u s e o f e a r lie r fo r w a r d b u y in g . M o n e y in c ir c u la tio n , w h ic h M o n e y r a te s in t h e o p e n m a r k e ts s h o w e d a r e n e w e d d e c lin e d u r in g A u g u s t a n d t h e fir st h a lf o f S e p te m b e r . 8 M O N T H L Y R E V IE W MONTHLY INDEX NUMBERS COMPUTED BY FEDERAL RESERVE BANK OF ATLANTA MONTHLY AVERAGE 1923-1925=100 June 1933 July 1933 August 1933 June 1932 July 1932 August 1932 Daily Average Sales—Unadjusted A tla n ta ...................................................................................................... B irm in g h a m ............................................................................................. C h a tta n o o g a ...................................v .................................................. . N ash v ille................................................................................................... N ew O rleans............................................................................................ D IST R IC T ................................................................................................ 103.9 44.1 50.8 56.3 53.5 58.0 85.1 47.3 39.0 39.0 46.7 50.3 129.3 56.3 46.8 69.2 57.9 66.1 102.5 52.3 50.7 53.1 56.4 59.5 92.4 41.4 34.4 35.4 44.2 47.4 105.2 44.4 36.7 46.5 51.6 53.4 Daily Average Sales—Adjusted* A tla n ta ...................................................................................................... B irm in g h a m ............................................................................................. C h a tta n o o g a ........................................................................................... N a sh v ille ................................................................................................... N ew O rleans........................................................................................... D IST R IC T ................................................................................................ 119.4 47.4 45.8 61.2 60.1 64.4 116.6 64.8 52.7 56.5 67.7 71.9 157.7 70.4 60.8 83.4 74.2 84.7 117.8 56.2 45.7 57.7 63.4 66.1 126.6 56.7 46.5 51.3 64.1 67.7 128.3 55.5 47.7 56.0 66.2 68.5 Monthly Stocks—Unadjusted A tla n ta ......................................................... - ........................................... B irm in g h a m ............................................................................................. C h a tta n o o g a ........................................................................................... N ash v ille................................................................................................... N ew O rleans.......................................................................................... . D IST R IC T ................................................................................................ 70.1 37.4 42.0 54.6 46.5 48.2 79.2 35.2 44.1 53.8 45.8 48.3 90.4 38.9 50.2 56.8 55.2 55.6 82.5 50.7 46.1 65.9 61.1 61.6 74.9 44.8 44.8 60.0 57.4 56.7 72.3 42.4 46.4 57.9 57.1 55.6 Monthly Stocks—Adjusted* A tla n ta ...................................................................................................... B irm in g h a m ............................................................................................. C h a tta n o o g a ........................................................................................... N a sh v ille ................................................................................................... N ew O rleans............................................................................................ D IS T R IC T ................................................................................................ 73.0 37.8 43.8 56.3 49.5 50.7 87.0 37.1 46.9 57.8 48.2 52.5 95.2 40.9 51.8 57.4 56.3 57.3 85.9 51.2 48.0 67.9 65.0 64.8 82.3 47.2 47.7 64.5 60.4 61.6 76.1 44.6 47.8 58.5 58.3 57.3 WHOLESALE TRADE—SIXTH DISTRICT—TOTAL......................... G roceries................................................................................................... D ry G o o d s................................................................................................ H ardw are............ —.................................................................................. F u rn itu r e .................................................................................................. E lectrical S u p p lie s ................................................................................ S ta tio n e r y ................................................................................................. D r u g s.......................................................................................................... 48.0 42.3 54.9 48.3 47.5 55.0 34.6 59.0 50.7 41.8 69.9 50.9 52.6 51.6 39.3 57.6 53.0 44.5 45.8 61.2 62.7 55.5 44.9 65.2 37.6 40.9 29.1 32.5 27.7 45.5 34.2 65.0 34.8 37.2 29.3 30.7 20.2 46.2 31.0 56.0 42.6 43.4 47.7 38.8 35.2 38.2 41.6 59.9 LIFE INSURANCE SALES—SIX STATES-TOTAL........................... A lab am a .................................................................................................... F lorid a........................................................................................................ G eorgia ...................................................................................................... L o u isia n a .................................................................................................. M ississip pi................- .............................................................................. T en nessee.................................................................................................. 63.1 60.0 65.9 65.7 67.1 57.8 60.9 66.1 47.5 61.6 67.6 62.4 118.8 59.1 61.5 53.9 64.3 67.0 63.7 43.3 66.8 65.6 55.9 75.0 73.6 71.9 51.1 61.5 57.5 50.6 62.2 66.7 56.8 46.4 56.0 59.6 54.4 64.5 63.6 67.9 47.7 56.3 BUILDING PERMITS—TWENTY CITIES............................................. A tla n ta ....................................................................................................... B irm ingh am ............................................................................................. J a ck so n v ille.............................................................................................. N a sh v ille.................................................................................................... N ew O rleans............................................................................................ F ifte e n O ther C ities............................................................................. 13.0 7.7 2.2 19.0 16.5 7.9 17.3 10.6 8.5 4.8 25.4 15.1 5.3 11.3 20.6 5.4 2.8 26.8 160.0 15.3 13.8 11.8 27.3 2.9 11.4 9.3 10.2 10.5 8.0 5.3 1.7 12.0 8.4 15.8 8.0 13.6 4.9 2.8 13.5 12.8 28.3 15.6 CONTRACT AWARDS—SIXTH DISTRICT—TOTAL.......................... R e sid e n tia l............................................................................................... A ll O th ers................................................................................................. 12.1 11.5 12.5 11.1 12,2 10.3 13.4 10.0 15.8 21.3 9.3 29.2 16.0 7.7 21.6 23.6 7.4 34.4 WHOLESALE PRICES—UNITED STATESf ALL COM M O DITIES.......................................................................... Farm P ro d u cts........................................................................................ F o o d s........................................................................................................... O ther C o m m o d ities.............................................................................. H id e s a n d le a th e r p r o d u cts..................................................... T ex tile p r o d u cts............................................................................. F u e l a n d lig h tin g .......................................................................... M eta ls a n d m etal p ro d u cts....................................................... B u ild in g m aterials........................................................................ C hem icals a n d d r u g s................................................................... H o u s e fu m ish in g g o o d s.............................................................. M iscella n eo u s.................................................................................. 65.0 53.2 61.2 68.9 82.4 61.5 61.5 79.3 74.7 73.7 73.4 60.8 68.9 60.1 65.5 72.2 86.3 68.0 65.3 80.6 79.5 73.2 74.8 64.0 69.5 57.6 64.8 74.1 91.7 74.6 65.5 81.2 81.3 73.1 77.6 65.4 63.9 45.7 58.8 70.1 70.8 52.7 71.6 79.9 70.8 73.1 74.7 64.2 64.5 47.9 60.9 69.7 68.6 51.5 72.3 79.2 69.7 73.0 74.0 64.3 65.2 49.1 61.8 70.1 69.7 52.7 72.1 80.1 69.6 73.3 73.6 64.6 COTTON CONSUMPTION—UNITED STATES.................................... C o tto n -G ro w in g S ta te s..................................................................... A ll O ther S ta te s..................................................................................... G eorgia............................................................................................... A labam a............................................................................................. T en n essee.........................................................................................- 137.0 161.9 82.3 168.8 209.1 153.8 118.1 138.3 73.6 143.7 175.8 119.6 115.8 132.9 78.2 143.6 169.3 118.5 63.1 78.6 29.0 84.3 118.7 94.6 54.8 68.5 24.8 73.2 95.2 78.5 79.2 96.8 40.5 97.8 135.3 119.7 COTTON EXPORTS—UNITED STATES............................................. . 100.0 112.6 86.3 58.6 73.1 73.6 PIG IRON PRODUCTION—U n ite d S ta te s ......................................A la b a m a .................................................. 42.3 28.6 60.0 52.7 61.4 51.8 21.0 15.7 19.2 13.7 17.8 10.0 DEPARTMENT STORE TRADE-SIXTH DISTRICT (1) ♦A djusted fo r S e a so n a l V a ria tio n . Digitized for QFRASER ) C o p ie s o f t h e s e s e rie s tC o m p iled b y B u rea u o f L abor S ta tistic s. f o r b a c k y e a rs w ill b e fo rw a rd e d u p o n re q u e s t. 1926=100.
@FedFRASER