Atlanta semi-weekly journal. (Atlanta, Ga.) 1898-1920, 1916-10-03
Street Cars Are Run on Normal Schedules as Disorder Stops
HIGHER PRICE TO MAKE
UP FOR COTTON SHORTAGE
M. B, WeIIborn, Chairman Of
Reserve Bank Board, IS
sues Statement

While the cotton crop will be cur
tailed this year. the higher price will
make up for the loss. according to a
statement of the federal reserve bank
of Atlanta issued by NJ. B. wellborn,
chairman of the board. The statement
follows:
AGRICULTURAL.
The first half of September showed
very little material change in the bust
ress conditions in this district awaiting
a more decisive crop condition as basis
FOR fall and winter business. Reports
from the southern part of the district
state that while the work is probably
ten days late, picking is progressing
nicely ard cotton is beginning to come
10 market. In view of the high price
prevailing, very little cotton is being
held. and the indications are that the
crop as picked will be ginned and
r,arketed, and that there will be no late
crop. While an early frost may do some
damage TO the crop, it is not likely to
Involve any great amount of cotton; and
IL is safe to assume that this years
crop will be sold at price nearer on
a normal parity with the price of the
manufactured product than any previous
crop grown.
As indicated in our previous reports,
the cotton crop in our district will fall
about 90 per cent short of the 1915
crop. However, il is not expected that
this crop shortage will affect the gen.
eral business of the district. in view
of the higher prices received as an offset
70 the loss in crop production. At pres
emit prices for cotton and seed, as COM
pared with those existing at this time
last year. the value of the cotton crop
in Alabama will be over S12,000,O00
more than that of 1915, in spite of the
short yield. figuring this years yield on
basis of T75.O00 bales. The value of
the 1915 crop, ipcluding seed. was APP
proximately S64.Ooo,0OO. The crop of
1875 was made at less cost and with
more attention given TO diversihcation
The products of diversified farming are
in good demand at high prices, and this
is creating a greater interest in future
live stock raising.
INDUSTRIAL.
The general activity continues in all
industrial lines with the possible eX-
ception of coal and lumber. While there
is an increased demand for coal, both
steam and domestic, and prices have adj
vanced rapidly, the mines in the dis
trict are not operating over half time,
the impediment being caused by a
shortage of freight cars. There. has
been some improvement in the lumber
market within the past thirty days, 80
far as the volume of business is con-
cerned. and values appear somewhat
firmer. This is to some extent offset,
however. by the development OF the
serious car shortage. Lumber being a
commodity in seasonable demand to some
extent. if the buyers cannot get sup
plies of certain grades and kinds of
lumber in demand during particular
season. they naturally lose interest N
those particular items until the season
rolls around again. And in view of the
present car shortage, il may result in
certain lumber being carried over the
season, Sales show a healthy exec IS
over production and are in material ex-
cess of shipments. Production at this
time is about 10 per cent below normal,
and, in view of the car shortage, il is
the opinion that production will be fur
ther curtailed.
In the Birmingham district, the last
thirty-day period has been a heavy one
in the production of pig iron. The out
put for the month OF August was the
largest recorded for any one month.
Prices remained about the same, and the
demand for steel products is still heavy.
In the wholesale and retail lines, sails
are in excess of this time last year and
collections are reported good. Prevail
ing prices are much higher than the
same season last year. and dealers re-
port certain lines of merchandise scarce
and shipments from factories slow.
With the high prices prevailing for
agricultural products. the general OUT
Took is very bright for heavy fall and
winter trade.
NEW ORLEANS REPORT
Notwithstanding the feverish condi-
ton OF labor and the high cost Of raw
material. no particularly marked change
IS noticed in the more important indus
tries of this section.
Agricultural conditions on the whole,
i'm this immediate district, are quite sat
isfactory-cane. corn. cotton and rice
are all coming strong, while potatoes,
onions. beans and kindred crops are well
up to their usual excellent standard and
are bringing prices pleasing to the
growers.
Wholesale and retail trade continues
in satisfactory volume, the desirable
turnover has been realized: and, as cool
er weather approaches, the outlook for
an increased buying is brighte" than
for years. This is general throughout
This section-so much so that merchants
are making extraordinary alterations and