Show FEDERAL RESERVE REPORT industrial activity of the twelfth district slackened somewhat further during september sales of mer chandise chand lse also receded As in the previous month there were bial increases in both industrial em and payrolls although de creases are customary during sep maturing of crops was attended by favorable weather conditions dur ing september prices of farm pro ducts fluctuated considerably during september and the first half of oc tober and were somewhat some whit lower at the end than at the beginning of that period department store sales were some what less than in september 1932 net demand deposits continued to increase these increases slightly more than offset declines in time deposits borrowing from the re cerve bank decreased slightly and on october were at the lowest point since june 1917 interest rates were the same as a month ear her lier |