Atlanta tri-weekly journal. [volume] (Atlanta, Ga.) 1920-19??, 1922-10-31
RAIL TRAFFIC HEAVY;
FACTORIES HUMM|NG
MORE MEN WORKING
Prices Today About 58 Per
Cent Above Level Prevail
ing in 1913-BankS Have
Plenty of Funds
BY HARDEN COLFAX
Geased Wire Service to The Journal. }
Copyright, 1929

w ASf111NG 1OAN, OCl' oV.-DOSA
ness generally throughout the Unit
ed States has been better for tho
last month than at any time during
the past two years. More factories
are busy, more workmen employed
today than at any time since tho
industrial DEPRESSION began. More
goods are being produced, more traf'
fic is being hauled by the railroads.
more articles are selling at retail
The banks are in a position almost
too sound, Sc swollen are their lend
able funds.
Such is composite picture of in
dustrial and commercial America as
the governments agents report ii
to their various departments here.
Notwithstanding its bright colors
there are those high in govern
ment councils who are somewhat
concerned with sub-surface factors
which, they are inclined to believe
will act to postpone the peak of ap
preaching prosperity for time, Per
haps until the fall of next year.
Chief of these factors is the situa
ton with respect to the farmer. Re
cent reports to the departme. OF
agriculture shows conclusi%ely that
the American farmer has not shared
in the business revival so much as
the industrial worker.
Price Comparison
Prices stand today, all commodi-
ties averaged, at a level Of about
analysis of the figures shows. But
wheat, corn, oats, hay, hogs, beef
and dairy products-almost every
thing the farmer, .produces-are be-
low the general average. Only tive
farm products. eggs and sheep arc
above it. On the other hand such
commodities as iron, steel, clothing,
shoes, coal, and building materials
are far above the general average.
There must be a leveling off de-
partment of agriculture officials say,
before general prosperity will be at
tanned. Those commodities which
are high must come down and the
prices of farm products must rise
There appears to be no immediate
prospect of this being accomplished.
Two of the country's lal gest i'll
dustries-Duilding construction and
the manufacture of automobiles-are
cording to reports to the department
CT commerce. These were 10 be cX-
pected, but nevertheless their &c.
cline throws men out of work and
shrinks the volume Of prosperity. In
neither case, however, has the recess.
SION been so great as anticipated.
Building construction, thanks 10 the
banner spring and summer, will un.
Coubtedly attain volume hundreds
OF millions higher than during ally
preceding year. And the automobile
manufacturers, encouraged by a de-
mand for closed cars in excess of eX-
Dectations, are aiming now at a
record year, too.
To offset the decline in these two
industries there has been a substan-
tial increase in iron and steel pro-
duction, due largely TO railroad
equipment orders, and in the pro-
Guction of bituminous coal.
Railroad Traffic Heavy
Traffic oupy. thu re-
l,eight. Railroad executives do not
expect for it to remain at presen.
proportions for more than five u
six weeks longer, at the most. The
car shortage, in all probability, will
be short-lived. Before the first of
the year, according to present cal
culations, it will have disappear.
cd.
notwithstanding tie recent epi
demic of stock dividends in the oil
industry, conditions there are far
from satisfactory. Recent advances
lave been scored in crude Oil, but
there have been cuts in gasoline. A
drop of another cent or two in tho
retail price of gasoline probably
will be announced within 80 days.
The prosperity of the moment is
WIlIISH III ldI &c LIZ uEeS OH the lee
Sers of the National banks. Accord
ing to reports to the Federal Re
serve Board the American people
have 81 10000, 900 more in the banL
to their credit today than they mac
year ago, while their loans have
decreased, during the same period
s175, 100000. The figures concern
only National banks in the chic
citiees, out they shov. the trerd
Considering all banks, state sand Ma
tfonal, aHd 'all trust companies,
conservative estimate of the in
crease in deposits is $4,000 900, coo.
OF that increase, more than 81.
600 100000 is in the vaults Of Ma
tional banks, subject to demand
and 100000 900 is deposited in tim,
accounts. The Federal Reserv
hanks weekly statement shows tina
gold reserves are almost twice tn
amount required by law. The per
centage has almost doubled within
two years.
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