Atlanta tri-weekly journal. [volume] (Atlanta, Ga.) 1920-19??, 1920-07-27
LOWER PRICES
INEVITABLE, SAYS
FEDERAL BANK
Continued from Page y

pect declines in prices, but whole
sale firms appear to doubt any early
reductions.
reports by large department
stores throughout the district show
that the volume of June sales was
considerably larger than for June of
last year, and the sales for the first
half Of 1920 were larger, except in
one instance, than for the first half
of 1919, the increase in another in
stance being more than 100 per cent
Stocks of goods on hand at the end
of June were larger in every in:
stance reported than for the same
date last year, but smaller than for
the end of May with one exception.
while there is still uncertainty as
to how slowly or rapidly prices will
recede, and how long the transition
will take. it is generally recognized
throughout the trade that deflation
is definitely under way, and that
lower prices are inevitable, and that
nearly normal, confidence will be re-
stored and business in all lines will
benefit by becoming more stable"
While there is a decrease in cotton
acreage in the big cotton growing
states, and the crop is from two TO
three weeks late, the report states
that the weather during June was ia
vorable and the crop made good prog
reSS.
The crop in all six states of the
olstrlct had improved over conditions
In May, although it was generally
not as good as this time last year
Georgia's acreage was reported at A.
$4,000, decrease of $4,000 acres
compared to last year. Mississippi's
acreage was 100000, a decrease of
$4,000 acres. Tennessee had about
the same acreage as last year, and
Louisiana had decrease of 10000
acres. Georgia's production was es-
tlmated on June 25 to be 2,195,OOO
BALES. Georgia and Florida, it is pre-
dicted, will produce about 5000 bales
OF sea island cotton this year.
The report gives Georgia an in
creased acreage in peanuts, sweet po-
tatoes, sugar and velvet beans, and a
decreased acreage in corn, hay, oats,
wheat TOBACCO, potatoes and sor-
ghum syrup. The crop is forecasted
as follows: Corn, 6O,775,O0O bushels;
hay, $4,000 tons; peanuts, 100000
bushels; oats, 10,582,OO0 bushels;
wheat, 2,222,000 bushels; tobacco.
l8,792,000 bpushels; potatoes, 1.449.-
wy bushels sweet potatoes, 22'728'-
IVY wv bushels; sorghum syrup, 1885,
pounds.
The report says the increase in
peanuts consists of an extension of
the crop TO sections Farther north
IMAM heretofore, the increase in DO
tatoes IS due to the increasing mar
ket value of the crop, and the de-
crease in other crops is because Of
the shortage of labor and to unfa-
Vorable weather conditions.
Florida Fruits
:, florlda citrus growers have had
lnelr pest season from a price stand
point, says the report. An increase
of 1926 cars. of oranges and 1892
cars of grapefruit in shipments up
TO June 20 was reported. An in
crease In the orange crop and a
smaller grapefruit crop is predict ed
for next year.
Louisiana sugar conditions on July
against IS per cent for last year.
cuban cane men are reported to have
formed combine to boost the price
of sugar by holding their crop for
tWenty-four cents, says the report,
but no serious outcome is expected.
This years rice crop, says the re-
port, promises to be the largest in
the industry Of the country because
of the heavy rains. The average
condition for June was 80 per cent.
Louisiana heads the list of acreage
with a total of 1854. She expects
to produce half of the $4,000, 900
bushels predicted for the five big
rice-growing states.
Other Trades
Of other production the report
says:
HT,,p,har. D,,r;n-o +ho Io++or oor+
Of June the volume of business
transacted in lumber circles was con-
siderably above the average for the
last sixty days. A decided increase
in southern pine orders leads manu-
facturers to believe the confusion
err price levels has about passed.
Naval stores: Declines in rosin
and turpentine have made further
progress since last report, by reason
of heavier receipts and stocks, and
unfavorable turpentine marketing
however, a better tone has manifest
ed itself and, if fair production can
be had, results even at the lower
prices would prove satisfactory.
Foreign trade: Though the i'm
ports at New Orleans for May show
to the previous month, an increase
of nearly $10,000,00O was shown over
the same month last year"
Financial conditions throughout
the district appear to be generally
satisfactory" states the report
''There is a strong tendency to re-
strict loans to necessary purposes
though there appears to be ample
money for such purposes"
AS to labor, the report states that
there seems to be no relief from
the shortage of farm labor and all
parts of the district are seriously
short of farm hands.
The Reserve bank reports a little
impetus in buying in the pig iror
market in the south and a slight i'm
provement in transportation facili-
ties during June. Alabama showed
! an increase in production of pig iron
although coal production is still lag
ging.
| Orleans the lead over Atlanta with
$259,264,554 against Atlanta's $254,'
! 530,345, although Atlanta had 6
! greater percentage of increase will
II per cent against New Orleans
I per cent.
Atlanta had the biggest increase
of building operations in the entire
southeast. The value of her permits
for new buildings was $2,167,675 ant
the value of her permits for additions
and repairs was $224,9S7 an increase
of $1,211,625 over June, 1919. Hell
nearest competitor was New Orleans
but New Orleans had only $1,000.
| $40 in building permits and $169,69(
! in repairs and additions, showing {
| decrease in value of $1,135,014 from
! last year. The little city of Orlando
Fla, had the biggest increase mex
| to Atlanta.