Economic Review
MONTHLY REVIEW o f Financial and Business Conditions _ ^ Richmond© - o f t Fifth • yA. 3 Reserve Federal x""iir *4 District Federal Reserve Bank, Richmond, Va. February 28, 1939 % Change December 1938 January 1939 January 1938 Mo. Year Debits to individual accounts (24 cities)... $1,415,177,000 $1,215,303,000 $1,201,934,000 — 14 + 1 Number of business failures.......................... .................. 48 68 60 +43 + 13 Liabilities in failures, 5th district.................................... $ 934,000 $ 616,000 $ 855,000 —34 — 28 Sales, 30 department stores, 5th district............. ........... $ 18,301,800 $ 6,544,101 $ 6,713,377 —64 — 3 Sales, 195 wholesale firms, 5th district............................. $ 11,520,000 $ 11,067,000 $ 10,256,000 — 4 + 8 Registrations, new passenger autos.......... .................... 18,853 13,771 9,916 —27 + 39 Value of bldg. permits, 31 cities........................................ $ 8,387,203 $ 10,266,893 $ 4,125,673 +22 +149 Value of contracts awarded, 5th district.................. ..... $ 38,201,000 $ 26,203,000 $ 19,680,000 — 31 + 33 Cotton consumption, 5th district (B ales)........................ 266,650 287,869 216,303 + 8 + 33 Rayon Yarn Shipments, U. S. (Pounds)... .................... 26,200,000 27,100,000 13,700,000 + 3 + 98 Coal mined, U. S. (T on s)................... ............................ 36,230,000 35,530,000 30,950,000 — 2 + 15 H E seasonal recession in business in January from failures last month were more numerous in the district T the high December level was perhaps somewhat greater than in either December or January last year, but liabili this year than in most years, but the January record showed ties involved were materially lower than in either of the satisfactory comparisons with January 1938 in nearly all earlier months.
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