Atlanta tri-weekly journal. [volume] (Atlanta, Ga.) 1920-19??, 1922-12-02
FEDERAL RESERVE
OFFICIAL FIGURES
SHOW PROSPERITY

A general Improvement III ZIG
business situation in the Sixth fec
eral reserve district was reported
Wednesday in the monthly business
review published by the Atlanta Fed
eral Reserve bank.
Greater returns to farmers be-
cause of the increased prices foI
their products, a decrease in the
number of commercial failures, con-
tinued activity in building operations
and a 20 per cent increase over Oc>
tober of last year in the cotton man"
ufacturing industry, were some of
the more important matters chron-
tcled in the report.
Declaring that the volume of
1ebits 10 individual account probably
is the best individual indicator #
the trend of actual business the re
port said that figures available from
fifteen cities fey the week ending
November Is showed an increase
of little more than "A per cent over
the volume of checks charged to in
dividuaI depositors' accounts during
the corresponding week last year.
Farmers LiQuidate Debts
The cotton crop is better this year
than last, the report noted, and a
much better price prevails. The
farmers are selling their cotton, i,
continued, and to very large ex-
tent are liquidating their indebted
ness to the country merchants and
banks. which has resulted in an H.
crease in the deposits and accounts
carried by, the country banks with
the city institutions.
"The business situation in the
Sixth federal reserve district" the
report said, has undoubtedly shown
further improvement during the
month Of October and the early part
of November. There are some lines
which, considered by themselves,
would indicate an adverse tendency
but these are outweighed by other
factors equally as Important, and
there no longer is any doubt that
business is improving.
1.-The amount of building going on
throughout the district is exceeding
all expectations for this season o:
the year, and reports are being re-
ceived from various cities of q
shortage of building craftsmen. The
! lumber industry has been seriously
1 hampered by the shortage of rail-
way equipment, and stocks. of lunl
Der have been accumulated to some
extent on the lumber yards in antici
patton Of future Improvement in the
transportation situation.
Mill Production Increase
"The cotton manufacturing indus
try in The district is considerably
more active than at this time las
year, and increases of more than q
Ell cent are shown in the volume
| Of production during October by rep
resentatiVe mills manufacturing
cloth and yarn over figures for DC
toher, 1921. Orders on hand at the
end of October also indicate con
tinued activity, and improved condl
tions are also reported in Other lines
Of manufacturing.
despite the Improvement il
general business conditions which
has been going on for some months
the actual volume of business dom
by the department stores in thu
Sixth federal reserve district which
cooperate with the Federal Reserve
bank shows a decrease for October
in comparison with the same month
a Year ago.. Reports for October
were received from thirty-five repre-
sentative department stores in the
principal cities Of the district.
"F'or September we received thir
ty-seven reports containing figures
which in the aggregate showed ar
increase of almost 4 per cent in sales
during September, 1929, compared
with September, 1921, the only cities
showing decreases beirg New Or
leans and Savannah.
"For October thirty-five stores re
ported sales showing a decrease Of
SO per cent in comparison with sales
during October, 1921. and increases
were shown only at Birmingham
and Atlanta"