The Birmingham age-herald., 1924-06-01
BUSINESS
 OFSOUTHGROWS,
 REPORT REVEALS
Gains Made. In Building And Savings Deposits
 In April

ATLANTA, Sa-, May 31---Alfk0uEh general conditions in the Sixth Federal Reserve District have not changed ma teriaily during the past month, retail trade in April was better than in any preceding month this year, according to the monthly business review issued by the Atlanta Federal Reserve Bank, which was made public hedRy-
 Retail sales during the month show ed an increase of 12 per cent over khose of March, and "A per cent increase over the corresponding month of last year, the review showed. Increased sales were reported from all reporting citles in the district.
 Building permits issned aur5nE ApEll at 20 reporting cities of the district aggregated $11, 1,59S,3z3, being sen8nd only to the total of $a2, T60. .SAS for April of last gear, the highest point for which figures are axaiiahles" it wAs stated.
 EGvings Deposits Gain
 Savings deposits, the review said, continue to show smaIl increases each month, and at the end of April were SC per cent larger than q year ago
 Pig iron production in the United States declined from 3,A68,OS6 tons in March to 3, ,2S3, ,420 tons in April, while in Alabama the output dropped fr9m 231 ,S17 tons in March b 230t54S tons in April. it was reported.
 While substantial. gains were report ed in retail sales, wholesale trade did not show up so favorably. the volume of trade in April falling short of that of March, it was stated.
 WuY.naas ... NHu......-
 As to agricultural conditions, the re port said: There has been some warm, dry weather and farmers have taken advantage of 1t to the fullest extent, but there was enough wet weather dur ing April and early May to interfere with farming operations, and enough cool weather. to delay germination and growth of crops already planted Re ports indicate that the acreage planted to cotton this year is as large, and possibly a little larger, than last year some of the counties of South Georgia have turned large acreages to tobacco and while it is impossible to determine accurately at this time, indications are that the cotton acreage for the district will be about the same us Inst year" ,"
 Excepting in Alabama and Tennes- see, the farm labor situation is not So favorable as it was last year. it was reported.
 Heavy Citrus Crsp
 Movement of citrus crops for 1923 1924 is well advanced, and the seasaa will close earlier than last year, it was stated. Commercial production is ex- pected to exceed the estimate of 90,- 100000 boxes by a small amount
 As to the financial situation in the district. the review said l:
 Weekly reports to the Federal Re serve Bank of Atlanta by S6 member banks in the district show decline i'm the amount of loans and discounts dur ing the four weeks period ended May z, of . little more than 85, ,2T0. 900. Small declines occurred in loans secured by government obligations and leans ae- cured by stocks and bonds, but most of the decrease was on other auahs. Holdings by these banks of government securities, and of other stocks and bonds, also declined, resulting in de- crease in the total of loans, discounts and investments of about $6J67zsO sO00 during that period. Time deposits i'm creased more than S3.500,0 GOO, while demand depOsitg decreased nearly %8,- OO0,O 1000. Borrowings of these banks aI the Federal Reserve Bank declined more than S4, 0.O00.p
 Lumbar ProductiGn Dff
 Production of lumber by mills re- porting to the Southern Pine assoeiR- tiOn during the past four or five weeks has ranged from SS to 9S per cent of
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