Grand Forks herald. [volume] (Grand Forks, N.D.) 1916-1955, 1920-05-28

p%ortatfon situation in the northwest,
which have been given unremitting
attention since December Is, were
amply aided during the month by the
development Of conditions elsewhere
in the United, States. which have re-
suited in cooperative action by BUSH
ness men and the interstate com
'merce commission. not only to clear
up the congestion at the gateways of
traffic, but to redistribute the cor
supply of the United States in such q
way as to give the northwest tho grain
cars 1t needs, and to send h supply
of open top cars in this territory into
sections where they can be made more
useful, and to inaugurate at once a
railroads so far as their temporary
equipment needs are concerned. Many
months will probably pass before the
railroad situation is normal. The de-
velopments of the last thirty days
promise an Improvement. at least, and
we may look for a somewhat better
movement OF traffic.
h slowing down in trade n the
/ price changes Of the month have not
affected the price of foodstuffs to any
extent, but have left an imprint upon
many lines Of retail trade. There has
been a noticeable reduction in prices
on certain classes Of women's wear,
shoes and a considerable range of the
higher priced goods. Price changes
on medium grade articles are not yet
so apparent. There is an inclination
or the part Of the public to buy con-
servatively, and retailers outside Of
the larger. centers are cautious in ac-
=. cQmulating stocks. They are working
on a hand to mouth policy and o
dering to fill current requirements
only, and many have cancelled out.
standing orders. .s.
There is q general reluctance tc
buy on what they believe to be q fall:
ing market or to stock up beyond i'm.
mediate needs until the future price
situation becomes clearer. Very COO
spring weather has had some inf1u'
ence on trade and has held back the
normal movement of spring and sum
mer goods. -.
Banking conditions have mo-
from the country is cry heavy owint
to a considerable increase in the cos
Of spring planting, including ma,
chinery. material and farm labor
Rates retain the same levels Is {
month ago, and are very firm. Bank
generally are encouraging their Gus
toners to restrict their borrowings tt
those h a are necessary for the sup
port OF, current business activities ant
| LII ~ "Voku opCSoA0SAVN
Operations. Loans Of Commercial
banks and at the reserve bank ar
much, higher than normal and ar
likely. to continue high throughout tn,
summer because of the serious i'm
pairment Of the ability Of the rail
roads totmove trafic and c%onseQuen
sldetAy In liquidation. - ~
Changes MOT Sxt]oas,sG J.. = (
The changes that occurred durin,
the month are free from any element
that should apprehension.aaN1
has been evident for some. time tina
there must be a shift to a more con
servative basis, Inc this is being &C
complished without undue strain o
undue d%islocation of the ordinary pro
cesseA Of trade. Banks have beer tn,
leaders in the movement and hav,
been insistent during the month in
reduction of new loans to a basis rep
resenting only the extension Of credi
necessary to maintain current bushes
and agricultural Q activities. Custom
ers have been encouraged to pursue /,