Atlanta tri-weekly journal. [volume] (Atlanta, Ga.) 1920-19??, 1920-09-28
SOUTHERN BUYERS
ARE CONFIDENT OF
DROP IN PRICES

Eager purchasing failed to dimin-
ish southern merchandise stocks in
August, according to the report Sat-
urday of Federal Reserve Agent
Joseph A. McCord, of the Sixth dis
trict.
Warehouses are full and shelves
overlooking, he said.
Department stores sold an average
of 34.3 per cent more in August than
in July, they reported to the agent,
but, at the end OF the month, their
stocks remained SO per cent larger
than the month before and 32.2 great
err than august, 1919. WITH It all,
however, they said buyers evidenced
confidence that sharply lower scale
of prices is just ahead.
Tennessee hardware dealers pro-
fessed to foresee somewhat higher
prices due to freight rate increases;
other dealers showed varying eXpec-
tations.
Demand Lags Behind
The increasing demand that still
lags behind supply was reported just
as evident in money as other COM
modities in the district-a high level
of loans, but correspondingly high
level of deposits.
This condition does not materially
change the ability of the banks in the
district to handle the crop moving
from those of former years." the re-
port continesu, land no anxiety is be-
ing felt for financing. When the move
ment of cotton gets we'll under way,
liquidation should begin and condi-
lions should be greatly relieved"
Meanwhile, the condition Of the
cotton crop August 25 was markedly
lower than month before, except
in Tennessee, where the decline was
but one point, it was reported. Cot
ton conditions for the district was
6O.5 August 25,, and 69.5 in July.
points. Southern Alabama crops
were heavily damaged by boil weevil,
shedding and boil rot. Florida cot
ton suffered in rains and by boil
weevil, the report said.
/ Louisiana Crops Vary
Louisiana crops showed varying
conditions. Rice, was reported dam
aged by rains slightly, causing the
crop condition to drop to 80 per cent
of normal. Sugar, however, showed
a smart Improvement, jumping from
a 81 per cent condition to rs per
crease of 1,424 tons predicted.
Louisiana cotton was off 16 points to
a 80 per cent standing.
Lumber shipments were held up by
cIared, and many mills curtailed their
outputs, and still others have shut
down entirely. Lack Of confidence
among buyers in high prices was
credited with causing the general
guinness In the lumber market.
RETAIL PRICES OF 4S
COMMODITIES ARE CUT
WASHINGTON, Sept. 25.-Approx-
lmately 248 articles of food, clothing
ana manufactured commodities now
nave been forced into the retail and
Wholesale price slashing movement
which is spreading over the entire
country, according to government re-
ports today.
Retail prices of forty-eight COM
i,lodltles nave been cut according to
lists compiled by the labor depart
ment.
Wholesale prices of approximately
100 commodities are represented in
groups of articles in which prices
have slumped from 1 to II per cent.
ment average export price lists show
slumps in fifty-four out of eighty
commodities listed. Scores of ar
ticles of food and manufactured prod
uctS now have been reduced in price
for export although they still are
States. This indicates, however, of
ficials said, that soon these prices
will go down in the American mar
ket.
Rents, DullQlnS materials ana I'm
ished dwellings seem to present the
one exception to general price cut
ting movement. The country now is
approximately five years behind in
it's building needs, according to Of
ficials of the United States Housing
corporation.
Among the articles now embraced
in the price cutting by retail, dealers
are:
Potatoes, A per cent; cabbage, Al
per cent; sugar, IA; onions, 16; ba-
nanas, s; chuck roast and lard, 4
per cent each; sirloin and round
stead, rib roast, plate beef, lamb and
flour, 8 per cent each; cheese, rice,
navy beans, coffee and oranges, 2
per cent each; butter, oleomargarine,
corn meal and canned corn, l each.
Retail price cuts have been reported
in shoes, hats and mems and women's
suits; cloths, both cotton and wool
en-, candy and bituminous coal, which
slumped from 50 to SO per ton in
the eastern states.
Groups of commodities in which
wholesale price decreases have been
reported are farm products, SO per
cent; foods, IL per cent; clothing and