Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-11-05
SEASONAL UPTURN
!. IN SALES RECORDED
Federal Reserve Bank of At
lanta Notes Improvement
in Crop Prospect.
Special Dispatch 70 The star.

Special Dispatch TO The star. n
ATLANTA, November 5.-Ihe Fed
eral Reserve Bank Of Atlanta says In
its monthly review:
There was some Improvement in the
prospective yields of crops In the sixth
estimate by the United States Depart
ment of Agriculture indicates q cotton
crop larger by 467.000 bales than was
expected two months earlier and 1872
900 bales greater than In 1929. Cur
rent prices of cotton continue much be-
low those prevailing year ago.
Seasonal Gains.
Distribution Of merchandise at retail
and wholesale showed further seasonal
gains in September over preceding
months, but continued less than at the
same time year ago, and cumulative
sales by department stores and by re-
porting wholesale firms for the year
through September were 0.3 per cent
and 1872 per cent, respectively, less than
during that part Of 1929. Building per-
mits at 20 cities and contract awards In
the district as q whole were 43 per cent
and. 80 per cent, respectively, less for
the first nine months Of 1880 than for
that period last year. Consumption of
cotton In the United States increased
IL per cent and output of reporting
cloth and yarn mills in this district 11.6
per cent and 18 per cent, respectively,
in SEPTEMBER over August, but were
smaller than In September last year
Output of pig iron in Alabama declined
in September and was less than in Sep
TENDER last year, while production OF
bituminous coal increased over August
but continued smaller than at the same
time a year ago.
There was g decrease in the volume
of reserve bank credit outstanding be-
tween September 10 and october 8, and
total loans of weekly reporting member
banks also declined slightly, but in
vestment holdings Of these banks in
creased. Debts to individual accounts
increased 81 per cent over August
but were about is per cent smaller than
in September last year.
Bank Credit.
The volume Of reserve bank credit
outstanding at the Federal Reserve
Bank Of Atlanta, as Represented by it.
holdings Of bills s.n9 ecurities. declined
by approximately 3 millions of dollar,
between September 10 and October
These total holdings on october were
9.5 millions above the total on April
8, when they we've the lowest in about
/ ive years, but were 351a millions les
i than on the same report date last year
Holdings of discounted bills. and Of bill
bought in the open market, were les
| than half as large as on october 0 last
year, but United States securities were
owned in much larger volume than al
that time. Discounts secured by Gov.
eminent obligations were at lowe
| level on October 3 than on any weekly
report date since April 16, and al
other discounts were the smallest since
April %.
Member bank reserve deposits, and
total deposits, declined Rightly between
fSeptember 10 and October 8, and were
somewhat less than year ago. Because
Of the issuance of approximately 2
millions of dollars for shipment to Cuba
| for the account of another Federal Re.
| serve Bank the latter part Of Septem'
Der, credit for which was received
through the gold settlement fund, there
was q substantial increase In Fedora
Reserve notes in actual circulation, ans
in cash reserves.