The Fargo forum and daily republican. [volume] (Fargo, N.D.) 1894-1957, 1910-05-12
NORTHWEST IS IN
PROSPEROUS STATE.
DEMAND FOR MONEY HEAVY AND
ALL INDUSTRIES IN FLOUR
ISHlNG CONDITION.

st. Paul, May 1.-THE present con-
dition of the money market, in the
opinion OF St Paul bankers, furnishes
strong evidence OF the sound prosperi-
ty and rapid growth Of the Northwest.
The situation in this territory from
all standpoints could hardly be more
favorable. There is every indication
of confidence on the part of capital,
and barring the appearance o. some
unexpected calamity, the present year
should witness activity and develop
ment in the Northwest.
There is an extraordinary demand
for money" said a st. Paul banker
yesterday" which is quite the reverse
OF conditions that prevailed this time
year ago. The present rates are
from to per cent, which are IL to l
per cent higher than year ago. The
rates in the market here, however, are
less than in Chicago and the East"
Money Demands Heavy.
Bankers say that the present big de-
mand for money in st. Paul comes
from practically every line of business.
as well as from the interior banks.
The occasion for the increased demand
Is the general activity in business in
this section Of the country.
The resumption of great commercial
activity may be attributed to various
causes, but the market increase is due
to the wonderful growth of theNorth-
west.
Thousands Of new settlers have been
pouring this spring up into Northern
Minnesota, North Dakota, South Da-
kota, Montana and other territory trib-
utary to st. Paul. Most of th-se new
settlers are well-to-do farmers who
moved because they saw greater OPP
portunities in this territory than in
their old homes, and they are in po-
sition to satisfy their wants immedi-
ately, causing a heavy demand for all
kinds Of luxuries as we'll as necessi-
ties.
While conditions in the Northwest
were excellent a year ago, the fact
that the demand for money was COM
paratively slack indicates that the sit
uatfon then was not as good as 1t is at
present. Money is now comparatively
tight, not only because Of a zig de-
mand for the actual conduct OF in
creased business, but on account of
the promotion of big enterprises.
Railroads Are Active.
The railroads are spending hun
dreds Of millions in extensions and i'm
provements this year. In the North
west there is more railroad activity
than has been witnessed in it's history.
The millions which the ST. Paul Chi
cago lines are spending is just an ex-
ample of the permanent investment
being made in the Northwest. In the
West the railroads have reached a
state Of rivalry for the development of
territory which means an expenditure
Of money such as has been seldom
seen in this country.
Millions have been invested in lands
in the Northwest during the past few
months. These lands were dormant
until the railroads started to reach out
for them with feeders. Then land COM
panies went after money to obtain
these lands and colonize them. The
biggest deal of this kind was the re-
cent purchase by st. Paul capitalists
of a tract of $4,000 acres through the
heart Of Oregon. 1t will take $4,000, 900
to swing this deal alone.
The enormous expenditure of money
by the railroads and land companies
denotes the vast confidence of capital
in the Northwest.