The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1924-10-01
BETTER BUSINESS
IN This DISTRICT
SHOWN BY REVIEW
Greater Returns From
Farm Products Help
To Boost Trade
tBy Associated Press)


ATLANTA, Ga, Sept. S0.-Improye-
ment was evidenced in the general
business conditions throughout the sixth
Federal Reserve Bank District during
the month of August, this resulting
from seasonal influences as well as
prospects for greater returns from agri.
cultural products, according to the Sep
TENDER business review of conditions
issued here today.
Retail business, however, showed
signs of decrease during August, this
being attributed to the fact that mer-
chants were replenishing their stocks
for the fall trade, according to the re-
view, while, on the other hand. the
wholesale trade showed improvement.
Reports to the Federal Reserve Bank
indicated that the retail merchants
were placing orders for only that stock
which they felt assured of disposing of
in future months. They. are not over
buying, and are not burdening them
selves with large stocks, the report
shows.
Fine Tobacco Crop
Most illuminating is the large to-
bacco crop which Georgia produced, this
years production being large increase
over the amount produced in 1928, and
which crop has now assumed the role
of "a money crop" approximately 2e.-
100000 pounds Of tobacco were pro-
duced in various counties of Georgia
which Melted around Sc, 500, 900 the re-
port shows. The report terms the pro-
auction as "a record CROP" of which
over 26.000,000 pounds came from the
bright tobacco area of South Carolina,
and the remainder of the crop frcm
Southwest Georgia.
On the other hand, the tobacco crop
in Tennessee showed deterioration dur
ing August" the dry weather holding
in check .'wildfire which month ago
threatened serious damage" The pro-
duction in Florida was estimated at s.
$4,000 pounds, compared with 1891
600 pounds for last year, which crop
has already been harvested and sold.
The brightest prospects in the agri-
cultural situation are in regard to the
cotton production, which is declared to
be more favorable than it has for many
months, this being especially true of
Georgia where the present estimate is
more than twice the production of 1923.
Cotton Estimate
On September !, the estimated crop
for Georgia, at 1 100000 bales, sur
I,assed all other states in the district.
Mississippi ranking second with 1885,
600 bales on the same date, according
to the review. The I6tal estimated pro
duction for the entire United States
on September /, was given as 1851
600 bales.
Both demand and time bank deposits
show higher figure than was true a
year ago, according to the review. and
bills discounted for member banks by
the Federal Reserve Bank are at a
lower figure, while The reserves of the
Federal Reserve Bank of this city are
at higher figure than has been true
in year and half.
The same is practically true in re.
gard to building permits issued during
August for additions and new buildings
which showed greater value than was
true for the same month last year.
For the first time in many months.
says the review, there was evidenced a
slight gain in employment during Au-
gust in various lines of industry in the
Sixth District. although there is still
a large number of workers who are
idle, and many industries are still oper-
ating on part time"
Favorable prospects are assured for
the citrus fruit crop in Florida, it also
being expected that there will be noted
improvement in marketing facilities this
season.
According to reports received from A
department stores in the district, the
amount of retail sales during August
were given as little more than seven
Per cent lower than during the same
month in 1928. Five stores in Atlanta
and the same number in birmingham
reported aggregate sales a bit larger
than in August, 1923, but, on the other
hand, decreases were in evidence from
other cities reporting, the decrease rang.
ing DIS high as IL per cent in Nash.
vile.
Wholesale Trade Jumps
Wholesale trade, as was expected al
this time of the year, shows an in
crease. larger sales being reported by
firms in all of the nine mines of whole
sale trade from which reports are re
ceived. In four of these lines the bust
ness for August was greater than il
the corresponding month last year.
Dry goods sales of firms during Au
gust were 61.5 per cent greater than il
July, nut showed only "a per cent in
crease in the sales for August a veal
ago. While business in this line a
jacksonville, Knoxville, and Nashvill,
were not reported as great as was tru,
in August, 1923. there YVES noted ar
increase ir Atlanta, New Orleans an,
other centers in the district. Collec
tions during August were reported Al
excellent by one firm, good by five
fair by ten, and poor by one.