Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-08-04
CROPS INCREASING
IN SIXTH DISTRICT
Savings Deposits Are Also
Mounting Steadily In 4
Atlanta Area.


ATLANTA, August Although
weather conditions have been more or
less unfavorable In most parts OF the
sixth district, July estimates by the
United States Department Of Agricui-
tlIre indicate increases over last years
production OF corn, wheat, cats, hay,
white potatoes and fruits, but q sub
stantial decrease In tobacco, and smaller
declines in rice and sugar. Cotton
acreage In this district Is ss per cent
smaller than year ago, and fertilizer
tag sales from August through June
have been 304 per cent less than In
that part Of the preceding season.
Seasonal increases were shown IN
June sales at both retail and wholesale,
but retail trade declined from May 70
June by smaller percentage than ut
the same time Of the three previous
years, and the decline IN wholesale
sales from May 10 June was the SMALL
est In i've years. Retail trade was 10
per cent, and wholesale trade i5.2 per
cent. smaller than IN June. 1880, and
for the frst half Of 1891 retail trade
averaged 81 per cent and wholesale
six months Of 1880, taking no account
Of the difference in price levels. Build
ing permits declined In june. but con-
tract awards increased In Louisiana.
Mississippi, Alabama and Florida. Cot
ton consumption in Alabama was ia
per cent. and in Georgia o. per cent
greater than in June. 1890. Production
Of bituminous coal declined In Alabama
and Tennessee, and continued less than
q year ago. and output Of pig iron IN
Alabama also declined.
Savings Deposits Gain.
Savings deposits reported by 81 banks
increased a per cent In June over NAY
and averaged So per cent smaller than
O year ago. Debts to individual &C.
counts increased ID per cent over May,
ano we're 80 per cent less than In
June last var. Outstanding reserve
between June 10 and July 8, becatise Of
increased holdings Of purchased bills
and Government securities. Federal
Reserve note circulation declined and
was lower than for other weekly report
dates in about nine months. Loans
on securities by weekly reporting menu
Der banks declined but al other loans
increased about the same amount; IN
vestment holdings Of these banks In
creased about l2.T millions OF dollars
between june 10 and July and were
y
Borrowings by these banks from the
Federal Reserve Bank Of Atlantis de-
clined substantially.
Bank Loans Increase.
Following decline OF approximately
81 millions Of dollars between April is
and June 10 to the lowest level IN six
years, total loans and investments OF
"a weekly reporting member banks Joe
Gated in Atlanta, New Orleans, Bir-
mingham, Jacksonville, Nashville, Chat
tanooga, Mobile and Savannah In
creased nearly 20 millions the following
week, but In the three weeks ending
July 8 decreased to $563 900, about
80 millions less than on the same re-
port date q year ago. The gain was
due largely to increased holding OF
Government securities and to small
increase in holdings Of other securities,
as the amount of loans on July was
about the same as four weeks earlier.
A decrease I'm loans On securities during
this period was about onset by an IN.
crease in "ai1 other loans.
Total investment holdings OF these
banks on July 3 were greater by &l2,.
$4,000 than four weeks earlier and
were SEE, 72e 900 greater than . year
ago. Holdings OF United states Sc
curities were $2S, $50. 900 and those OF
other securities sl8,Se9, 900 greater than
at the same time last year.