The Birmingham age-herald., 1919-06-28
FINANCIAL,
 INDUSTRIAL AFFAIRS
 GOOD IN ALABAMA
Assistant Federal Reserve Agent Cobb's Review of Conditions Points to Re-
 vival In Business

In his report on financial, industrial, Commercial and crop conditions in Ala bama for the month of May, J. B. Cooo, assistant federal reserve agent at the \ Birmingham branch federal reserve bank, says:
 sFinance-Bankers Teport deposits hold ing up we'll A majority of the banks show an increase in deposits compared with deposit balances in May, 19lS
 The rise in the price of cotton has re- suited in considerable sales and collec- tions are represented as being very good. Demand fo- money is brisk. The sup ply of funds is adequate. Interest rates normal, ranging from 6 to s per cent The Birmingham Clearing House banks for the call statement of the comptroller on May F report as follows: Deposits, May F, '191s s47,62s, ,759; loans. s%. .s36. .1G; compared with March A. 1919. deposits, $47, ,922, ,706; loans, $2S,673,O56.
 May, 191a-May, 1919: At Mobile, S.72,- 706; at Montgomery, T,B1, 2S .39; at Bir- mingham, s53, 0S3,730.
 May. 191s-At Mobile, $6, ,472, ,6S7; at Mont gomery, $6,267, ,539. AS; at Birmingham, sIf,- S90, ,369.
 Crop Conditions-Entirely too much rainfall is reported throughout the state, A causing injury to cotton and seriously dana ging the corn, especially in bottom lands. Crops are very grassy and the boil weevil is reported in the southern portion of the state.
 The acreage planted in cotton is esti- mated at an increase of per cent great CT than that of last year. Wheat, oats and hay crops have also been injured from the wet weather Watermelons truck gardening and fruits are in good shane and the yields will be satisfactory Labor on farms is still in demand.
 I.umber--The production of timber products, including lumber. laths, shln- gtes hcx crating, slaves and naval stores Is restricted by labor shortage, but there is all increa sed demand for lumber ana the output will be considerably increased large amount of building operations is reported from all sections of the state, over s500,000 having been recently spent in building houses at Fairfield and 1ully $1,O00,000 or more will be spent Tn that io- cality.
 Real Estate-Real estate is active, par ticularly in farm lands, 10000 acres of farm property in Pickens county pelnG sold during May for s400,0o0, and the state department of agriculture is liter ally swamped with inquiries rom all Eparts of the country regarding farm \ tcreasing very rapidly.
 Stock Raising-There is no let up m 8stock raising. Never before has greater 8intcrest been shown in this state TOT 4 Ah.gh-grade cattle and swine, the increase in both classes showing tremendous gain this year.
 Wholesale and Retail Merchants-Mer- 7 chants report satisfactory business, the volume is much greater than that or last year, and the outlook is pleasing; collections are good.
 There is a considerable decrease in the output of coal due to poor markets anu mine disabilities. The output for May, 1a1o was 1. .269. .319 tons, compared to April, 1n9, 1856, ,019 tons.
 Iron Steel and Miscel1aneous-Man turers in all lines appear to De optimis- tic. The cotton mills. pipe plants' DIE iron plants and steel mills are getting m creased inquiries for their products. Iney believe that a turn IS taxing pidce Aoi a large volume of business
 Cotton mills are running more regularly and cotton seed oil mill operators are beginning to contract for coal dellverles. Foundries and cast iron pipe makers are running more steadily.
 Tn iron circles it is learned that while safes have not materially increased, in cuiries are multiplying, indicating ln- creased purchasing. Several pig iron 1ur- naces which were idle in April, are now onerating. and others are making prepa- rations to blow in.
 The steel plants in this district are operating steadily. The outlook in the steel industry is very encouraging. Large orders for steel rails have been placed hy +he railroads, and others VIII soon fo,tr.w Tn enormous amount or business Iron, the automobile plants will greatly increase the steel business.
 Inouiries for large amount or steer tonnage for export trade have appeared And with increased facilities for ocean shirments, the trade, both in iron ana steel products, will be greatly ,ncreasen sc,a ,rr., nroduction of pig iron in May, 1919, was 137.1 .16s tons, compared to April, lsls' 152,1S6 tons. -