The Fargo forum and daily republican. [volume] (Fargo, N.D.) 1894-1957, 1911-09-29
MILLIONS ROLL
into The STATE
MINNEAPOLIS BANKS ALONE
HAVE SENT OUT $s.5oo,ooo IN
LAST EIGHT DAYS.

Minneapolis. Sept 2s.-The banks
Of Minneapolis have shipped into the
country, principally "a SIS, $40 and $40
bills, with some silver. total OF
ss.50o,o0o IN the last eight days. .
currency movement far in excess of
what had been expected. 1t IL com
parable TO the greatest money demand
of this period In the heavy business in
the past. The total exceeds that
shipped in the corresponding period
last year by more than 100000. The
First National bank sent out 5000. 600
yesterday and nearly aa much today.
The Security National has shipped as
heavily and shows a total OF Just
about s1,000,00O for the last eight
days. and the Northwestern bank has
shipped heavily. p. q. Leeman, as
sistant cashier of the First National
bank, said that the eight day move
ment from that bank was In excess of
$1,000,000, and ahead II last year by
probably 25 per cent, and Fred Spaf-
ford, assistant cashier OF the Security
National bank, said it's shipments are
running rs to 30 per cent ahead OF a
year ago.
days sent out $1,3S0000 in bills and
$4,000 In silver, which In compared
with $1,1S5.000 In bills and $26. 900 in
silver year ago, and Cashier Frank
e. HoIten said that the demand is
keeping up. The heavy movement OF
grain Ia the direct cause OF the money
demand and resultant therefrom there
has been stimulus to general busi-
ness. Throughout each day the ex-
press companies have been taking out
numerous money packages from the
banks and considerable has gone out
through registered mail. The three
banks named have shipped the bulk Of
the money. But the same conditions
that create money demand are being
felt In the Scandinavian American
National, Metropolitan National and
Most OF the money IL going to
North Dakota" said Mr.. Leeman, ''but
we are also shipping to other state
that do business with Minneapolis"
The primary explanation OF the
heavy demand for money Is to be
found in the grain movement Again
today the railroads brought in big
excess movement over last year, the
wheat running 6S1 cars compared with
365 year ago, and barley 1S5 cars
compared with eighty Ave cars year
ago.
Since Monday the total grain move.
ment into Minneapolis has filled Alps
cars compared with 1889 q year ago.
and the four-day total lii I,43S cars
greater than that for the same four
days last year or this four-day run.
wheat nlled s,62s cars. or 1,02g more
than year ago.
Just suggestion OF crowdina il In
dicated IN the Local terminals. but
nothing vet serious enough, the rail-
road and chamber OF commerce men
say. to warrant the statement that 4
congested condition exists. The rush
OF grain ~ taxing the elevator faciI-
tiles, but to this time there has been q
fairly satisfactory daily cleanup. al
though with teday's receipts running
80 heavy, there were reports Of ATTY to
200 cars Of grain waiting unloading To
terminal elevators In some instances.
Should the rush continue there ID
likely 70 be q congested condition in
Minneapolis later as the unloading Ia
cllities and industry track capacity og
are not equal To the strain
that ID now being put upon them