The Dawson news. (Dawson, Ga.) 1889-current, 1924-12-09
IMPROVEMENT SEEN BY
FEDERAL RESERVE BANK
ADVERSE CONDITIONS IN DIS
TRICT, HOWEVER, ARE NOT
ENTIRELY LACKING.
RETAIL BUSINESS HAS SLUMP
Business Failures Fewer Than in the
Same Period of Last Year. Cotton,
Tobacco and Citrus Crops Show an
Increase This Season.

OdIuC ISlIOu Vi Last ASai. (OItSA,
Tobacco and Citrus Crops Show an
Increase This Season.
ATLANTA, Ga.-While business
statistics collected during the month
of October indicate further improve
ment as whole in the Sixth Federal
Reserve Bank district adverse condi-
tions are not, however, entirely lack
ing, several lines of wholesale trade
falling below figures for the same pc
Rod in 1923, as we'll as the volume OF
retail trade being under that of Octo
Der last year, according to the month
ly review issued by that institution.
To mild weather is attributed the
falling off in the retail business, says
the review, but the sugar cane indus
try in Louisiana has evidenced great
slump as a result of the long drought,
and because of this the production of
sugar is expected to be much lower
than in 1928. Likewise, it is true, ac-
cording to the review. that the pro-
duction OF corn, wheat, oats and hay
is a smaller crop than last year. but
it is believed that the better prices
prevailing for grains will in a great
measure offset these lower production
figures.
But with these slumps in produc-
ton the cotton and tobacco crops
came to the front with a much great
er production than in 1923. The to-
bacco production for instance is great
er this year by approximately fifteen
million pounds in the sixth district
than it was in 1923, and the cotton
crop produced has amounted to around
a million bales more than was raised
last year, the review reveals. Further
illuminating is the fact that the citrus
fruit crop has shown an increase OF
one million, six hundred thousand
boxes over 1923.
Deposits at High Points.
The review also points out the Sig
niicant fact that member bank sta
tistics show greater volume OF loans,
higher in fact than on any reporting
date since early in January, while al
so true is the fact that both time and
demand deposits are at high points
for this year and greater than in 1928.
Federal Reserve bank discounts, how
ever, continue at a low point, while
reserves are much higher. Saving
statistics showed slight increase over
the month of October, 1923. Failures
in the sixth district are shown to be
a little larger than in September, but
not up to the figure for the same
month last year.
Still another significant feature OF
the review is the fact that improve
ment was reported in manufacturing
conditions during October, while la
Dor, taken as a whole, is well employ
ed at most points throughout the
sixth district
The latest report issued by the de-
partment OF agriculture estimates the
total production of cotton for the sea-
son as 12,8l6,000 bales of five hum
bred pounds each This estimate, the
review states, is higher by $4,000
bales than that based upon the condi'
ton October LIST.
Low Yields of Corn.
Extremely low yields of corn were
realized in the northern part OF Geor-
gia, where drought damage was most
severe during the latter part OF the
summer, the review says. In southern
Georgia the yield, taken as a whole,
was considerably better, as the early
crop was practically made before be-
ing checked by dry weather The es-
timated production for the state is
50.203,000 bushels, showing an in
crease OF about million bushels over
1928, according to the report. In Mis-
sissippf there was a small increase in
the corn acreage this season, but low
average yields reduced the production
to 29040,000 bushels, the smallest
crop in fifteen years. The estimate
crop in Tennessee is 60,133,000 bush
els but smaller by $500, 500 bushels
than that OF last year, while in Louis
lana the estimated production is 49,
oo8. 600 bushels as against 25,927,0OO
bushels in 1928.