Atlanta tri-weekly journal. [volume] (Atlanta, Ga.) 1920-19??, 1923-01-02
The Year 1922
STATISTICAL. RECORD

Mdse. EXP, II mo-. 1922. ,t9l $50, oOo
1871. Ass. So, 900
Net Gold Imp" ".l9a2. 2l4,564, 900
1921 ti2S 49,, 600
Conf Failures .f913. 65. 25T, 900
1921. 62I 4U1 600
Bord Sales mar ..'...
1871. 3. so, 13S, 900
Stock Sales shares 1922. 262,5M.oOO
1921. 173, III, 900
Pig Iron Output
ttons] ..... ~ TO t33'"b
1921 Tl4,S94, 900
mage y1922. ESQ, 900
1921. 30, 900
Cot'n Cons. Bales. 199... 1851 ,O00
1927. II .S96, 00U
Drn's Ind. Numb'r 10 q IS5.4G2
1871 Gi,53l
xFed. Res Ratios 1922. Ho,4c5
1921. 1S.1rG
"(;ross earnings. III months. NHjgh-
est ratios.
Z. c.. Dun & Co.'S annual review Of bust
ness says in part
After passing through period of severe
depression, extending to all branches of en-
terprise, domestic business experienced de
cisive revival during the year just ending.
Extremes of expansion and of contraction
in the nations commerce. Of inf alton and
deflatfon Of prices have been witnessed since
the war ended late in 1918, hut the develop
ments of the past year were of more
wholesome and constructive character. Dc
spite TdlIureS unprecedented III uHHoef anu
unusually heavy in amount, tn" main
economic trend almost steadily forward,
and even protractcd strikes in leading indus
tries only partially checked progress. With
other obstacles also encountered, subStan-
tial recovery in business would not have
been nossible if previous far-reaching read
justments had not eliminated many of the
weak spots and placed conditions upon
more stable basis The former drastic iiqu-
datien in commodities and securities had
,rtba hp Oda
the lesSenng of the strains ON banking re-
sources and credits was reflected i'll the I'M
proved status of financial institutions.
1t is doubtful if there has been fni
recognition Of the extent Of the revival that
occurred in manufacturing industries and IN
either channels last year. TIE question was
not infrequently asked as TO whether the
prospects were favorable, when there was
q plain evidence that demand was active, ina
production rising. and that further
gains were foreShadowed. Reason was NOT
lacking it is true, for disappointment over
results in some quarters, but the general
movement Enthusiastically in the right
direction and previous records were sur
passed in certain instances. a reassurlh"
feature was the fact that conservative
action had replaced the speculative excuses
developed during the war period, ana that
operations instead of being .overeXtended III
most cases were confined within the limits
of prudence and safety. The collapse OF the
unwhioesome boom in 1920 had not I'M
naturally made all interests cautious, ana
the common practice last year was one OF
holding commitments to well-detlned require
ments.
As was to be expected, with the general
enlargement of demand, advances Ill com
modify prices predominated last year II
is recalled that there was an abrupt ana
extended reaction from the high record lever
established early in 1920, and that much
unsettlement resulted from the readJnst-
ments that occurred in all markets. The
decline continued for more than a year
before a change developed, but the trend
. since the summer of 1921, when the low
point was touched, has been almost stead
iiy upward. Measured by DunS Index Num-
Der of wholesale quotations, the net rise
during the last eighteen months has ap-
proxmated Is per cent, following recess
sion of about 40 per cent from the extreme
basis reached in the after-war initiation
That present prices materially above
those prevailing before the war is evidenced
by the latest index number figure of $50
1852, comparing with s120,740 on August l.
1914.
AGRICULTURAL RESULTS
An increase of nearly $1,000, 900. 600 in
the buying power CT the farmers OF the coun-
try is the outstanding feature of survey
--ef the soil crops and their markets for 1922.
This increase largely due TO the big
advance in cotton and corn, but received
material contribution from the rise IN the
price of wheat. The valuation OF farm
crops last year was 1882, $50 600, according
to the final returns of the department of
agriculture, gain OF 81, S42,91s 900, or 81
per cent over the valua ton placed on the
crops on December 1. 1921. Grain crops
aggregated 5.243 900, 900 bushels or Ga, 00U,
600 bushels more than the revised returns
of 1871, the latter being raised 100000
bushels, as compared with the report given
cut a year previous. A striking feature Of
the final summary is increase of $780,
900 bushels in Winter wheat over the Aug
ust returns. while spring wheat estimates
unra caI only y Inns hnlS
those given in October making the total
crop $4,000. 600 bushels. The big increase
in the wheat yieid-about As .000.0 900 BUSH
els oyer last year's--was made on an acreage
2,466, 600 less than that of 1921.
Dry Goods Markets
Dry goods markets in 1922, in the primary
divisions, passed through trying period in
the first eight months of the year and
covered in the last quarter The closing
month was especially good in retail holiday
distribution and for many stores was the
most active period of the whole twelve
months. Being a year of recovery from
the defIation of 1920-21( it was character
lied by many Industrial conflicts. and in the
agricultural sections it was ~ disappointing
year because of the relatively low prices
secured for grains and other farm products
There notable exception in the south,
where cotton ruled quite high in price. Be-
ginning in late January, labor troubles con-
tinued we'll into November. and broughts
500, 600. 900 yards Of staple standard cot
tons. 1t was also a period of unsettlement
in merchandising such as usually occurs
when tariff legislation is under discussion
and it was not until new tariff law went
into effect that business began to show the
degree of confidence expected at many
times earlier in the wear.
TESTERS COTTON STATEMENT
NEW ORLEANS. Dec. 30.-Hester's
weekly cotton statement. Comparisons are
to actual dates not to close of correspond
ing weeks.
In sight for week ............... $4,000
Same seven days last year .... 32S. 900
Same. seven days year before 3lS,00O
For the month ....... 1881
Same date last year ...... 49, ,449, 600
Same date year before .........1 !. So, 900
For season ........ SO. ......7 ,901 900
Same date last year ..,.. ....7 ,O29, 900
Same date year before ..........6, 214, 600
Port receipts for season ........ 4, 032, 900
Same date year before last 80. 923, 900
Same date wear before ...... sol 900
Southern mill takings for season 1850, 900
Same date last year ...... ....2. 100, 900
Same date year before ........1 800, 900
Interior stocks in excess of Au-
gust 761,OOO
Last year ........ .-..-. 3OS,oOO
Year before ........ 49,. go. 702, 900
Foreign exports for week ....... $4,000
Same seven days last year 80. 5000
Same seven days year before $4,000
FOR season -....... ...-..2, a. .OoO
Same date last year ...... 80. .S9s, 900
Same date year before 800. go. . J7 900
Northern spnners' takings and Can
anda for week 49,. 49,. $4,000
Same seven days last year ...... $1,000
For season ........ go. .....2.711, 900
To same date last year ........2 S9S. 900
Statement of Spinners' Takings of American
Cotton Throughout the World
This week ........ ...... $500. 3. 800. 600
Same seven days last year ...... 293 90
Same seven days year before 80. 100000
Total since August l ...... .6,300. 600
Same date last year ...... ......6, $40, 600
Same date year before ...... -. 4 193, 900
Statement of Worlds Visible Supply