OCR Text |
Show Farmers Cash Income Up 55 For September CHICAGO A 55-percent increase in-crease in the cash income of the American farmer in September over August brought the level 48 percent above September of last year and registered a total income in-come for September of $602,000,-000. $602,000,-000. This was due partly to the highest monthly marketing receipts re-ceipts since October 1931, according accord-ing to estimates just published by the State Street Research and Management Corporation in conjunction con-junction with the Corn Industries Research Foundation. The report shows the direct cash income from marketing of commodities in September Sept-ember is estimated at $531,000,-000, $531,000,-000, as compared with $3S9,000,-000 $3S9,000,-000 in September 1932 and additional addit-ional payments to farmers in Government premiums of approximately approx-imately $60,000,000 on cotton and $11,000,000 on hogs, indicating total to-tal cash purchasing power of $602,-000,000 $602,-000,000 for the month. "Even after af-ter adjustment for seasonal variation," varia-tion," says the report, "September is close to the seasonal adjusted July 1933 peak." The September Increase resulted largely from heavy shipments of- cotton, together to-gether with the inclusion of approximately ap-proximately $20,000,000 paid by the Government to hog producers for pigs and sows at market prices. In addition, hog producers received premiums from the Government Gov-ernment of $11,000,00 over the market price. The report concludes con-cludes that based on Government adjustment payments to be made this year, ""farm purchasing power pow-er for the cuntry as a whole should be approximately $800,000,000 greater than In 1932." |