The Fargo forum and daily republican., 1912-01-05
REAL CONDITIONS
OF The NORTHWEST
NORTH AND SOUTH DAKOTA AND
MINNESOTA CROP CONDITIONS
ARE ACCURATELY REPORTED
IN RRADsTREETs JOURNAL
NOT uNFAvoRAeLE.

1 "St 9NFNSSnA6@Es
In speaking Of the crop conditions
of the northwest, Bradstreet's Journal
of Finance has the following to say re-
garding Minnesota and the Dakotas in
1911:
In a business sense 1911 has been
nearly a normal one in the northwest,
whose annual growth in population and
resources tends, as a rule. to produce
a natural yearly increase in trade. but
this year the customary advance has
not been apparent. In the northwest
all lines of business and industry de-
pend upon the prosperity of the farmer
Crop failures in 1910 in North Dakota,
and, to lesser extent, in South Dako-
ia and parts of Minnesota, left coun-
cry merchants in the fall of that year
with considerable merchandise which
they could neither sell nor pay for.
Restricted buying resulted. A lack of
rainfall during the early spring of
1911 caused further caution. However,
fears of crop failure prove to be un-
founded, save in South Dakota and a
part OF North Dakota. Important ag-
ricultural areas which suffered most
in 1910 from dry weather were ebtter
favored in 1911. Minnesota, with
abundant crops has no cause for COM
plaint.
Wholesale trade in dry goods fell a
little from 1910. Sales were confined
Sa1n -
mand for fancy goods made profits
narrower than usual Collections are
good-much better than anticipated.
Wholesale trade in groceries shows a
loss from 1910. and collections are tar
dy. Trade in hardware is about the
same, except that collections are quite
satisfactory. In lumber, sash and
doors and builders materials sales re-
ceded below the record years, and
keener competition and narrower mar
gins of profit have resulted.
Manufacturers in general have suf-
fered heavier decreases than whole
salers. They have operated along
conservative lines and are believed to
be in healthy condition.
The 1911 grain crop was marketed
with more than ordinary rapidity.
Farm prices have ruled high, though
wheat was graded unusually low, ow-
ing to damage from protracted rains
following the harvesting season. This
fact resulted in prompt shipments,
which, combined with greater financial
pressure upon the farmers caused all
but small part of the crop to be mar
keted. Large quantities Of grain are in
elevators here, and 1t is expected that
the season will be profitable one for
the elevator interests. though for the
trade in general profits have not been
so good. Total grain receipts show
the 1911 crop to have been larger than
estimated at time of harvest and pre-
viously.
Minneapolis flour mills have been
operating close to capacity for some
months, but sales have been below
normal Purchasers have been eau
tious in anticipation of lower prices,
which have not developed Stocks are
low, thus portending a healthy market |
next year.
Wholesale dealers in farm impIe-
ments have had a restricted market |
owing to conditions in the Dakotas. |
there has been an unprec-
edented demand for corn cutting and |
machinery. This suggests a
partial abandonment of one crop |
methods and an increase Of diversi- |
fed farming. Sales and collections
are steadier in those sections of the
northwest where diversified farming is
employed. Minnesota is marketing
dairy products, potatoes and other
products in increasing quantities.
Banks and other financial institu-
tions have had a profitable year, ana
for loans has been abundant in
recent months. To a larger extent
each year the northwestern crop move
ment is financed from the twin cities.
Bank clearings. real estate sales, build
ing permits and similar statistics in
dicate a healthful growth in Mime
apolis. st. Paul and other cities of the
northwest, though few records were
broken.
The northwest has shown astonish-
ing ability to liquidate Indebtedness,
despite adverse conditions. This man
Hesitation has been apparent In all
lines, and the aggregate Indebtedness
in this territory is undoubtedly small
er than in amny years. Fundamental
factors have improved, traders stocks
are low and normal crops next year
should bring improved conditions Not
for years past has the ground been so
dampened to so great a
lepth as by the widespread fall rains
of this year. Many weeks of drought
IN 1912 would be required to exhaust
this storehouse of moisture. No rap
ID Improvement in business conditions
IS expected during the first half Of the
new year. Conservative methods will
continue. but there is little occasion
Tor pessimism.