Evening star., 1940-02-12
Farmers Of Nearby
States Better OF
In 1899 Than 1898
Buying Power Lifted
By Prices and Bigger
Crops, Survey Reveals
BY EDWARD c. STONE


Larger yields and better prices
made 1899 q better year for the
farmers in the Fifth Federal Reserve
district than 1898, the Richmond
Reserve Bank declares In q special
agricultural summary just issued.
Yields were larger for corn, cot
ton, cottonseed, tobacco, sweet po-
tatoes, oats, peanuts and apples, the
only important crops showing re-
ductions being Irish potatoes, wheat
and hay.
The average season prices re-
ceived by farmers were higher in
1899 than in 1898 for most crops and
where prices were lower the declines
were offset by higher production
figures. Therefore. cash receipts in
1899 were substantially above 1898,
receipts, even tobacco, in which the
average price declined drastically,
showing larger dollar return be-
cause Of a A per cent rise in pro-
duction.
Actual cash receipt figures are not
available, but the farm values of
Fifth district crops grown In 1899,
the bank announces, show the fol-
lowing percentage changes over 1898
values: Corn increased Is per cent,
cotton increased "a per cent, cotton
seed increased Is per cent, tobacco
Increased per cent, Irish potatoes
Increased 6 per cent, sweet potatoes
increased IL per cent, oats increased
l per cent, wheat increased 6 per
cent, hay increased 2 per cent, pea
nuts increased % per cent and
apples decreased 13 per cent.
Apples made up the only major
crop having a lower total value than
In the preceding year and this is
chiefly due to inability to export
the usual part Of the crop to Eng
land and Continental Europe.
Cotton and cottonseed registered
the greatest increases In value in
1899 and the Carolinas, in which
practically all Fifth district cotton
is grown, show the influence OF in
creased purchasing power on the
part of farmers. 49,.
For example, the Richmond bank
concludes. South Carolina led the
district in percentage increases of
automobile sales and in department
store sales last year in comparison
with the preceding year.
Bankers at Richmond Banquet.
Washington banks we're well rep
resented at the annual banquet of
Richmond Chapter, American Insti-
tute OF Banking, Saturday night at
the John Marshall Hotel, among
those present being R. Earle Hay
cock and I. J. Roberts, Riggs Ma
tionai; James G. Dulin, jr., and Paul
j. Seltzer. American Security 81
Trust Co.; Willard G. Barker, Morris
Plan; Edward M. Blaiklock, WASH
ington Loan & Trust Co., vice
president Of Washington Chapter;
James A. Soper, George r. Galleher
and George Rowzee, Lincoln Ma.
tional; Wilmer j. Waller and Walton
j. Sanderson, Hamilton National:
Francis 2. Robey, Bank of Com
merce 4 Savings, president of
Washington Chapter; Margaret A.
Fischer, Hamilton National, Sec
retary OF Washington Chapter.
Robert G. Whitton, First National,
Alexandria; Arthur Herbert, Burke
q Herbert Bank & Trust Co, Alex
andria; T. e. Sebrell, Clarendon
Trust Co.: w. E. Robey, Old Domin-
ion Bank, Arlington; c. c. Brown
and c. G. Pierce, Citizens National,
Alexandria; c. L Robey, Purcellville
National, past president of the
Virginia Bankers Association. Hugh
Leach, president of the Federal Re-
serve Bank of Richmond, and other
staff members were also present.
Constantine Brown, foreign news
commentator Of The Evening Star,
was the guest speaker, his subject
being foreign affairs. which he han
died in most interesting manner.
Between 800 and 900 members and
guests heard the address, a near
record attendance.
Biddle Heads Bankers' Club.
Samuel Biddle was elected presi-
dent Of the National Savings Club,
employe organization Of the Ma
tional Savings g. Trust, Co. Mr..
Riddle is an investment analyst in
the investment research department,
graduate Of Princeton University
and a member Of the Chevy Chase
and University clubs.
The other officers elected were: