The Bismarck tribune. [volume] (Bismarck, N.D.) 1916-current, 1918-11-23
NORTHWEST IS
PAYING LOANS
AT.FAST RATE
Farm Mortgages Being Reduced
At Record Speed Says,
Governor Void
$73,0OO,OOC IN SIXTY DAYS
Most of Money Now Being Re-
paid Federal Banks Borrow
ed in Crop Season

Minneapolis, Mimi, Nov. 23.-As an
indication OF what the Northwest will
be able to do toward rehabiltating
itself during the reconstruction Of bus.
mess period in the transition from a
dore Void of the Federal Reserve
bank today announced Il reduction Of
$73,000,000 in 60 days Of loans made
to member banks in this section.
This means, briefly, that farmers
and business men of the Northwest,
who had borrowed that amount Of
money, have been able to pay back
in the past two months at the rate Of
more than a million dollars a day, and
that the country banks in turn have
iquidated in a corresponding amount
their Indebtedness to the Federal Ke.
serve bank from which they had Dor,
rowed the money. III
Borrowed During Crop Year.
Most of this money was borrowed
during the crop season, extending over
period Of six months, and practically
all Of it was advanced to farmers Of
the northwest The peak of the loan
period was reached about the middle
Of October, when the Federal bank had
$97 100000 out in loans, Today that
amount has been reduced to $24,000,>
900, and Governor Void says it would
have been cut down to a smaller sum
but for the embargo that was placed
against the shipping of grain to termi-
nails, which held back large quantities
of wheat, oats and so forth that were
ready for the market.
This condition Of liquidation is not
confined to the Federal Reserve bank,
however, Governor Void stating that
it is paralleled by corresponding
heavy reduction in the loans of the
larger national and state banks in
Minneapolis, St. Paul and other COM
mercial centers of the Northwest.
Better Wheat Movement Aids.
A better movement Of wheat from
now on, bankers say, will rapidly wipe
out the remaining obligations Of the
cou1i try banks, leaving them with sub
staiitiafly increased deposits and o IN
very excellent condition to meet spring
demands.
This status Of the money situation
in the northwest, it is agreed, Is a
most favorable augury for business re-
construction. 1t means that country
merchants will have it in their power
to order freely of jobbers for the re-
pletion of low stocks-Aand that the
manufacturers of the country who
supply this section will profit thereby
in Increased orders from jobbers.
COLD WEATHER AND AUToMo-
&c
There are many ways that automo-
bile owners can add greatly to the life
of their car and cut down up-keep,'
said Mr.. c. 3. Whitley, service man
ager OF the Lair Motor Sales Com
parfEy.. -"Take, for instance, the differ
ential:" How many owners think OF
the differential in cold weather. They
put anti.freeze into the radiator to
avoid its freezing, but they do not
realize hat when it is cold the work
OF the differential is greatly increased,
as it is called upon constantly to COM
pensate for the slipping of first one
wheel and then the other. Under
these circumstances the fabrication
should be the most efficient, but gen
orally 1t is the least efficient because
the grease in the differential housing
thickns because Of the cold and does
not follow the gears. To obtain the lu-
bllcation needed under these condi-
lions and keep the differential in good