Atlanta Georgian. [volume] (Atlanta, Ga.) 1912-1939, 1913-09-28
FALL DEPOSITS
GRO VI FASTER
THAN DOLOANS
Many New Savings Accounts Are
Opened Since Sept. Cotton
Movement Is Rapid.
BY M. A. ROSE.

Deposits in Atlanta banks show
surprising increases.
Loans are large, which is the nor
NAL and healthy condition at this
season. But loans have not increased
as rapidly as deposits. Clearings
show remarkable increases. The
financial situation in Atlanta and the
Southeast in general brightens daily.
Cotton is moving remarkably early.
south Georgia banks are collecting
and getting into excellent shape
In Middle and North Georgia the
movement has begun, and had it not
been for the rains. which DELAYED
picking and made the roads heavy,
Saturday week ago would have seen
record breaking receipts at the inte-
rior markets. Fair weather since that
time has enabled the farmers to pick
and market their crop, and they have
done so with such rapidity as to make
heavy demands on the currency sup
ply.
Farmers Sell Readily
Very little cotton-almost none-is
being held. The spot market rules
above ID cents, and farmers are only
too glad to accept the price.
As Is the case with almost all the
early picked crop, the staple grades
high How much harm the rains did
by staining and beating out the open
bolls has not developed.
Reference to the fact that deposits
have increased I'm Atlanta banks takes
no account of the Governments
sl,00O,0OO which arrived recently.
The 100000 according to the es-
innate of a banker who is in position
to know, just about balances the
items in transit arising out Of cotton
transactions when the market is live
ly 1t is understood that nearly al
the Atlanta institutions are using
their proportion of tho $1,000, 900 to
balance this con stantly floating sum.
An average of three days Is needed
to carry a cotton transaction through
This is what keeps the million con-
stantly tied up during the busy sea
son.
A Valuable Precedent.
Atlanta bankers look on the million
dollars Secretary McAdoo sent here
to help move the crop as no great
actual help, The su-l can not go FAR
toward relieving the situation, II is,
however, an earnest OF the Admins
tration's good intentions toward the
business men, and is valuable chiefly
as a precedent Some following year
may see the same pTlHtlple dppleO
much more literally.
Still this years deposit saved
something to the local banks. The
interest on 100000 borrowed from
New York at the ruling rate Of 10
per cent and paid back under the
Governments terms of four install
ments BEGINNING at the end Of the
third month is S1S,748. The interest
at 2 per cent for similar amount
and period is but $74S0, making a
saving OF 1925.
Many Start Saving.
One of the most encouraging bits
OF information which has come TO
light lately is that the number of
savings accounts has increased with
remarkable rapidity since Septem-
Der 1.
There IL a regular demand daily,
according to two of the banks which
feature this class Of business, for saw
ings bank books, and initial deposits
all the way from 81 to $50 are made.
ANY period of depression has an
aftermath of thrift" says Joseph f.
Boston, OF the Georgia Savings Bank.
1T seems as If people make new re-
solves and take a new grip on their
affairs after being pinched a little, or
seeing others suffer through lack of
savings
81 suppose people resolve never
again after one squeeze which
catches them short of funds. 1t re-
suits In good. at any rate