Survey of Current Business May 1924

COMPARISON OF WiiOLKSALIO PLUCKS AND STOCK P1UUKS
! { i i ! { i i' i I H
t91S 1 1917 I 1918 1919
poration with banks and livestock loan companies
increased and, with a decline in repayments, resulted
in an increase in the balance of loans outstanding;
this balance, however, was much smaller than a year
ago. No advances were made to cooperative marketing
associations in March. The balance of outstanding
loans with these associations declined and was also
much less than a year ago. The loaning operations
of the 12 Federal intermediate credit banks are given
in the table following.
LOA.VS AND REDISCOUNTS OF FEDEIUL INTERMEDIATE CREDIT
BANKS 1
YEAU AND MONTH
19*3
October
November..
December
1924
January
February..
Maidi
Closed
"~$7~fi5fl,"e6;$~
0,042,758
DIBECT LOANS
1,972,475
1,035,103
Balance, end
of month
$21,237,477
27,863,300
30,577,492
32, 205, 42,5
28,849/239
28,313,433
Closed
REDISCOUNTS
""$2," 3487 2S8~
2,345,039
1,753,492
2,127,404
2,479,521
(Twi'Uc-month moving iivomKcs)
Balance, end
of month
$6, 7S6,077
8, CS7, 569
9,104,938
11,139,060
12, 560,129
14,581,921
1 he intermediate credit banks are located in tho same cities as the 12 Federal land
batiks, ^as follows: Springfield, Mass.; Baltimore, Md.; Columbia, S. 0.; Louisy,v.
le .« M'.; New Orleans, La.; St. Louis, Mo.; St. Paul, Minn.; Omaha, Nebr.;
>> lelnta, Kans.; Houston, Tex.; Berkeley, Calif., and Spokane, Wash.
Prices of industrial stocks declined in March, though
railroad stocks rose slightly. Stock sales wero less than
( h M 1 S M i
1920 I 1921 I 1922
in February and also less than a your ago. Sales cif
bonds, however, were larger than in either February.
1924, or -March, 1023. All classes of bonds were*
slightly higher than in February, except industrials
and foreign, while, compared with a year ago, only
the foreign bonds wero lower. . The municipal-bond
yield was lower than in February but higher than in
March, 1923.
GOLD AND SILVER
Domestic receipts of gold at the mint were less than
in February but larger than a year ago. Imports and
exports of*gold showed little change from February,
the net excess of imports totaling §33,505,000 as
against 834,606,000 in February and §5,559,000 in
March, 1923. For tho first quarter of the year
imports of gold doubled while exports declined 92 per
cent giving an excess of imports of §112,960,000 for
the quarter as against $36,891,000 a year ago.
Silver production increased over February but was
less than in March, 1923. Imports and exports both
declined from February but were greater than a year
ago. Excess of silver exports amounted to §2,134,000
in March as against 8977,000 in February and an
excess of silver imports of 8106,000 in March, 1923.
Tho price of silver declined slightly from February
price3.