The Fargo forum and daily republican. [volume] (Fargo, N.D.) 1894-1957, 1917-09-10

IN NORTHWEST
Seen BY rich
Federal Reserve Agent Re-
ports Big Crops in Much
OF Territory
WESTERN NORTH
DAKOTA SUFFERED
Money Returns Large
Farmers Urged to Pre-
pare For Liberty Loan

The monthly report OF crop. ano
business conditions in the Ninth
Federal Reserve district, was made
public by John H. Rich, chairman
and federal reserve agent this morn
ing.
The report follows:
"As frequently happens in a dry
year, the final crop reports from the
Ninth Federal Reserve district are
proving to be somewhat more en-
couraging than might have been ex-
pected thirty days ago. There can
be no question about the prosperity
of wisconsin, Minnesota and South
Dakota. wisconsin and Minnesota
are harvesting crops that are as
large as any that have been prev
iously produced. South Dakota Will
doubtless show a total production
this year that will be somewhat IN
excess of a good average year IN
spite of the damage that occurred IN
the central and western portions OF
the state during June and July. The
eastern one third Of North Dakota is
threshing better than an average
crop. The remainder Of the state
and the entire state of Montana snow
much smaller yields but grain is neS
ing harvested that thirty days ago
gave little hope Of being worth cut
ting. Some of the wheat, although
on very short straw, has headed in
good shape, and the quality is ex-
cellent.
Flax Prospects.
I'm parts of Wisconsin, throughout
all of Minnesota, in South Dakota
and the eastern portion of North
Dakota, the outlook is for consider
able amount of good fax. A consid-
cradle part of this crop has already
been cut, but very little of it has so
far been threshed. In the western
half Of the district. there will be
some flax that was despaired or a
month ago that will come through
safely, although the total yields will
be reduced as compared with year
ago.
a good corn crop is practically GER
tain, although some days of good
weather are yet required before It
will be entirely safe. The outlook
for this crop In the western half OF
the district is good, but longer per-
iod will be required to mature IT..
Over the district as whole corn
is quite spotted. The frosts that nave
so far occurred have not been sum-
sbCNCAG IL AAAJAAU AAIA0 NN~E~I
although in the northern portions OF
Minnesota garden truck has suffered.
Early potatoes yielded well, and
late potatoes. with a little more fav-
able weather, will be a good crop.
South Dakota will have a surplus for
shipment, and Minnesota which Is
always a heavy shipper, viii, have
large supply this year.
Tha Wheat Price.
while federal price regulation, as
applied to wheat. has established
market that is lower than a great
many farmers desired, the basis de-
termined upon has put an end to the
very uncertain marketing conditions,
and will probably be accepted in the
long run as a reasonable compromise
between the demands of the growers
and the equally insistent demands of
the consumers. Wheat is beginning
to move rapidly into terminals, and
with excellent weather for threshtng,
the grain crops will probably be taxi
en- care Of without suffering the dam
age that sometimes occurs from rain.
The money return from the crops
will be large. The consensus Of
business opinion is that while there
will be some localities, especially in
the farmers viii not enjoy a good
year, that the district as whole is
safe from aSly danger of business de-
preston and that the buying power
of the people as a whole will not be
diminished. Money rapidly distri-
butes itself, and even in the districts
where the grain yields are small, the
farmers have realized handsomely
from sales of stock on an unusually
high market.
THE two most important features
of the month have been the rapid
in drafting the new
National army, and steps taken by
the government which indicate that
a second great war loan will shortly
be called. The amount of the loan is
uncertain, as is the rate. These mat
tiers are receiving the attention of
congress, and an early decision may
be expected. Looking back over the
past ninety days. the ease with which
the country absorbed the first war
loan and the lack of any evidences
of strain are significant indications
of the great financial strength Of
the United States. This financial
power Is again to be put TO the test.
The amount called for will very pos
sibly be larger than the $4,000, 900, 600
involved in the first loan. and it is
probable that following the history
of the great loans placed by England,
it will receive broader popular
In this district, widespread
participation will be en-
should the rate, as appears
very possible, be higher than 3 " per
cent which the first loan carried.
Must Come From People.
There are comparatively few
large businesses IN the Ninth Federal
Reserve district. and while there are
many thousands who are prosperous,
those of great means are likewise
few. In the second war loan the
win have to come, as in the
first loan, from the rank and file of
the people, and notably from the.
farmers.
ITO the farmer. war loan bond
should be especially attractive. They
viii probably be exempt from normal
income and other taxes. They will
very likely bear fair rate OF inter-
est, comparing favorably with saw
ings bank rates. They have elements
Of solidity and safety that will far
any other consideration,
and constitute an investment that
has no superior.
in the raising Of the first war