Evening star., 1932-01-07
BUILDING PERMITS
IN SHARP GAINS
Actual Work in Atlanta Still
I LagS, Monthly Review
States.
Enecial Disnatch to The Star.

Special Dispatch to The Star.
ATLANTA, January 7.-Following
seasonal increases in the sixth Federal
district from Midsummer through Oc-
tober, the month of November disclosed
seasonal declines from October in the
volume of trade at both retail and
wholesale. and in debts to individual
accounts at reporting clearing house
cities OF the sixth district. Department
store sales in November averaged l6.7
per cent less than in October. and were
also 1877 per cent smaller than in No
vember last year. Wholesale trade de-
clined ll.2 per cent from october and
averaged 1914 per cent less than in No
vember. $780, and bank debts decreased
178 per cent over the month and were
POT per cent less than year ago. No
vember had "a business days, as against
27 in October. a difference of about II
per cent. In these comparisons no al
lowance is made for the different num-
Der Of days, compared with October or
in the different price levels compared
with year ago.
Federal Reserve Bank credit Outstand-
ing at the Federal Reserve Bank of At
lanta declined somewhat between No
vember II and December 9, but con-
tinued much larger than year ago
Member bank credit outstanding at
weekly reporting member banks declined
between November II and DeCeTber 9
and continued less than year ago.
Bcoh demand and time deposits de-
creased further, and borrowing by these
weekly reporting member banks from
the Federal Reserve Bank increased
slightly.
Building Situation.
Building permits issued at 20 report
ing cities increased sos per cent, but
contracts awarded in the district as
whole declined 81 per cent, compared
with october, and permits were 5l.9 per
cent and contracts 90 per cent less than
in November, 1880. For the II months
of 1881 permits have been 35.5 per cent
and contracts 25 per cent less than in
that part of 1880. Coal production in
Alabama and Tennessee and pig iron
production in Alabama declined in No
Vember and continued less than a year
ago. Cotton consumption in the United
States declined 70 per cent and in three
States of this district rs per cent, but
the daily average increased about 2 per
cent from october to November, and in
the United States was 3.3 per cent, and
in these three States 81 per cent larger
than in November last year. Production
VI COllDll SlOblI Wy ANPOA tAAAS At4AA4o Al
this district was larger in November
than for the same month year ago for
the seventh consecutive month.
The volume of reserve bank credit
outstanding at the Federal Reserve Bank
of Atlanta declined from Sl04,000, 900 on
November II to S96500 900 on NoVem
ber 25, increased to approximately $l03,-
100000 a week later and declined to
500, 100000 on December II. These
changes Rere due partly to fluctuations
in discounts, but principally to the de-
cline in holdings of purchased bills.
Detailed Bank Report.
Holdings of discounted paper in
creased from S50,67l 900 on November
IL to S59.098,000 on December 2, but
declined to $54,081 900 a week later,
net increase of S3,4l0,000 in the four
week period from November IL to De-
cember g. This increase in discounts
was more than offset, however, by a
decline of S11.044,00 in the banks
holdings of bills bought in the open
market Con pared with the CORE
spending report date year ago, dis
counts on December 9 this year show an
increase of S21, ,666 900, holdings of pur-
chased bills were greater by So, ,699 ,000
and United States securities owned by
the bank show an increase of S9,485,-
600. Other securities were held on De-
cember 9 amounting to 100000.
Cash reserves increased between No
vember IL and December 9 by 6,165,
600, and we're then $86, ,756,OOO, COM
pared with $135,293, 900 on the same
report date a year ago
Member bank reserve deposits de-
clined slightly between November II and
December 9, and were S1l,517,000 less
than a year ago, and total deposits de-
clined 81 764000 between November II
and Decem Der 8, and we're S5,l9800O
smaller than at the same time last year
Federal reserve notes in actual circu-
lation on December 8 were 1924 900
greater than four weeks earlier, but
$3.50, 900 less than a year ago.