The Fargo forum and daily republican. [volume] (Fargo, N.D.) 1894-1957, 1913-12-02

with 80, 900 ovens in blast and 10000
idle in the Connellsville district.
The operations Of the cement plants
Of the country are at about one-half
capacity. The demand Is uncertain
and prices irregular.
The production Of gold at the Rand.
mines in October fell to only us, 600.
ounces compared with 10000 a year
ago, n with the exception Of Sep.
tember, was the lightest months out,
put since February, 1912. The output
for the year, to date, has been 142, 900.
ounces less than for the same period
last year and his decline will show at
increase for the balance of the .calen-.
dar year because of the 'l~isorganized
condition resulting from the strike.
Commodity prices in sympathy with
the decline in gold production, and for
other reasons, have shown a consider.
able decline in England, present pric-
es being the lowest since January,
1912. In this country, prices are con-
siderably below a yea ago INC con-
siderably below the beginning Of this
year, but are slightly higher than dur-
ing the summer. s.
The number of shares traded on the
stock exchange was about one-half Of
last years transactions for the month
of October. but bond sales picked up
slightly, amounting to $41, 600, 900 COM
pared with $46, 600, 900 a year ago and
$73, 000, 600 two years ago. Stock ex-,
change dullness is still a stubborn
fact. Bond prices average lower than
at any time since November, 1907, and
stocks average below any quotations,
since April, 1908.
Building and real estate operations
for October were decidedly light and
for the year, to date, in the 100 lead
ing cities are below last year. The
difference Of over $4,000 900 in build
ing operations in New York city ac-
counts, however, for nearly all of the
decline and outside Of a half dozen
cities, the building movement has
been larger this year than last year or
the year before.
With the exception Of cotton, the
crops are harvested and the story IS
told. Wheat production increased,
while corn, oats, barley. buckwheat,
1axseed, white potatoes and tobacco
show a decrease as compared with the
previous year. Rice and rye held their
own. The average price of farm prod
ucts is enough higher, however, to Off
set the difference in the crop and
farmers, as a whole, are not the suf-
ferers this time. Farmers in some Sec
tons where the drouth was severe
are, Of course, in bad shape. .
From the ginning figures at hand,
indications are that the cotton crou
will almost reach last years figures,
he price is enough higher to insure a
much greater total value for the crop
thai last year and the value in dola
lars for the smaller crop may almost,
If not quite, equal the price brought
by the 1911 bumper crop. ',
The best business conditions are
still found in the states bordering the
Great Lakes and the poorest condi-
tons in the middle south and south,
west, exclusive of Texas, where bust
ness Is just about normal. There ia
almost a boom area covering Michi-
gan, Wisconsin,, Minnesota and north
ern Iowa, Illinois, Indiana and Ohio
Montana and Wyoming are above nor
ma and the, unmentioned portion of
the country just about average.
1t Is unnecessary to son
the Mexican situation which continues
to have its daily effect upon trade and
financial operations in this and other
countries. A peaceful settlement
would mean much to our general bus
mess conditions.
Respectfully submitted. +
The First National Bank,
Compiled Nov. p. 1918.