Grand Forks herald., 1919-12-27

Outside Of a Few Exceptions
General ,Cond ditions
are Favorable
December.

while the volume of holiday trade
throughout the Ninth district has
been large, there are evidences of a
more conservative tendency on the
part Of the buyers. In the larger
cities, the usual large throngs OF
Christmas shoppers have kept the
stores busy, but their purchases nave
been of a rather more practical ma
ture than a year ago, and the dis
position has been to spend their
money more cautiously and for
articles having practical usefulness
and value Current reports from the
outlying portions of the district indi-
cate the same drift. Customers are
fnuuiring into the intrinsic value OF
the articles they purchase and arc
exhibiting more conservatism tnan
was apparent two months ago. IN
view Of the repeated warnings OF the
Federal Reserve Bank and of leading
financiers, that continued reckless
spending can only lead to an unfa-
vorahle result, this tendency Is en-
couraging aud suggests that the crest
of the wave Of extravaganza whscn
has prevailed for many months may
have been reached.
There is a. disposition to look Tor
more conservative buying during the
coming year. Trade IN the principal
lines is giving attention to the condi-
ton of stocks and the difficulties that
may face merchants in the, event OF
any appreciable decline in prices II
they are caught with large stocks OF
high priced goods and falling mar
ket
The district was fortunate IN es-
canine with comparatively little trou-
BILE the dangers that threatened dur
ing the coal strike. At Montana
points there was an acute shortage Of
fuel. Not a pound OF coal was mined
in that state until the recent resump-
ton of work The availability of coal
in ordinary times has made it un-
necessary for dealers to store Large
supplies, and with the exhaustion OF
the amount on hand, it was necessary
arrangements with saw mills for SLAP
wood. and with wood cutting crews IN
order to provide enough fuel for
household purposes. These condi-
tions are rapidly adjusting them
Selves and difficulties that were re-
ported from a few other points are
now being obviated. The industries
of the district have not been appreci-
ably interfered with. and the full
force Of tho strike was not felt in this
district as it was in sections farther
east.
Severe cold prevailed during prac-
tically all of December, with sub
zero temperatures during the greater
part of the month. Heavy SHOWS
have fallen throughout the entire dis
trict, which have put country roads
in very bad condition. and intertered
with transportation service. The Sc
verest shortage Of cars since the be-
ginning Of the war exists at the pres
.ent time, and throughout the month
there has been the utmost difficult!
in securing cars for the shipment o.
stock and farm products Countr!
elevators are filed with grain, ant
all movements of loaded cars ar
slow. Grain shipments which usual
ly arrive in Minneapolis and Dulutl
. terminals within a period Of three o
four days are now eight and ten day
on the road, and as a result, tn
usual fall iquidation has not oc
Cured. Banks are carrying tn
farmers. the grain trade, and pro
ducers of live stock, for unusus
amounts. DurinA December, the de
mand upon. all the banks was hcav
and liquidation hardly noticeable. /
consequence of the situation, modei
ate advances were made in the dis
count rates of the Federal Resrv