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407 66 - 4 sales in the country dropped off about this time last year, but Sears Roebuck sales in the South this year have gone up considerably, showing a very definite in- crease in purchasing power on the part of the agricul- tural communities and, of course, the South is primarily agricultural. For instance, in the State of Georgia, Sears showed an increase of 120% over the corresponding month of 1932. That 1s just an illustration to us that we are coming along in a satisfactory way this year, al- though we hope that next year we will get a higher price than 10$ for cotton. That, however, we cannot talk about because it is next year; we don't know what the economic conditions will be. Then, Number 2, the tobacco growing part of the country. There the tobacco farmers, because of this agreement we entered into, are getting 17 cents, I think it is, for their tobacco and their purchasing power has gone up relatively even more than that of the cotton farmers. 97% of them have signed up on acreage reduc- tion for next year and the five big tobacco companies that do the buying of the tobacco have guaranteed a price of 17 cents for the average of this tobacco for the balance of this crop, which means about three- quarters of the crop which has not been sold. That is

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    "ocrText": "407\n66 - 4\nsales in the country dropped off about this time last\nyear, but Sears Roebuck sales in the South this year\nhave gone up considerably, showing a very definite in-\ncrease in purchasing power on the part of the agricul-\ntural communities and, of course, the South is primarily\nagricultural. For instance, in the State of Georgia,\nSears showed an increase of 120% over the corresponding\nmonth of 1932. That 1s just an illustration to us that\nwe are coming along in a satisfactory way this year, al-\nthough we hope that next year we will get a higher price\nthan 10$ for cotton. That, however, we cannot talk about\nbecause it is next year; we don't know what the economic\nconditions will be.\nThen, Number 2, the tobacco growing part of the\ncountry. There the tobacco farmers, because of this\nagreement we entered into, are getting 17 cents, I think\nit is, for their tobacco and their purchasing power has\ngone up relatively even more than that of the cotton\nfarmers. 97% of them have signed up on acreage reduc-\ntion for next year and the five big tobacco companies\nthat do the buying of the tobacco have guaranteed a\nprice of 17 cents for the average of this tobacco for\nthe balance of this crop, which means about three-\nquarters of the crop which has not been sold. That is"
}