Grand Forks herald. [volume] (Grand Forks, N.D.) 1916-1955, 1921-12-27

llGItS HdNSE uGoHf w oJS lllCur 0NSOAuS
ance with taeir importance. In the
average family budget and weights
have been included for furniture and
miscellaneous expense to cover such
costs as insurance, medical treat
ment, amusement and savings. These
latter costs do not fiuctuate and have
been included merely to prevent the
variations in the cost of food and
clothing from Affecting the index num-
Der in too great a degree. The per-
lcentage 81 each item OF expense CDR
responds closely with the experience
of about 100 middle class families to
whose budget We have had access.
: The housing situation in Mime
| apolis improved somewhat asN indi-
Gated, by the number OF advertise
ments ,inS a prominent city newspaper.
There were 1,719 advertisements of
houses and apartments for rent In
November as compared with 2,267 in.
October and 1,So2 in November a
year ago. In the same newspaper
year 1871 advertisements asking for
houses and apartments to rent as COM
puartd with $50 in October apd 222 in
November a year ago.
Finances.
The financial condition of the north
west improved ncticeably during No
vember.i Thirty-fve selected member
| Dd'thS III Lilc q Z lSpokSoN Ia
increase Of eight millions In demand
and 2 1-2 millions in time deposits.
thereby bringing their demand de-
posits up to a point equal to that OF
April Is last, while time deposits were
practically as high as at any time
during he past two years. SAVINGS
and time deposits In 23 Twin City
banks combined increased 2 per cent
in November over October. II stood
ats per cent above Il year ago on
December I. Improved confidence
was manifested by reports received
from IS local investment firms which
indicate sales of securities 19 per
cent greater than In November a year
ago although November sales this
year were 2 per cent below those OF
October. In spite of this decline Of
2 per cent In November sales. the
! sales of farm m or cages. SO necessary
for the proper financing Of the north
west increased SIS per cent over
October.l
stock and grain. coupled with the re-
, duction of business inventories, has
improved collections: while the re-
duced business volume and lower
' prices have lessened the demand for
money funds. AS a result. this fed
eral reserve bank was repaid about
10 1-2 millions of loans during the
i've "cehS eIIuIIS 1NoSSlIA0SA " Va
which about 10 millions came from
the IS selected member banks in the
larger cities. which were able to do
this partly because of their rise In
deposits and also because nearly Z
millions was repaid to them on loans,
bringing their loans to the same
level as or May II last.
Commercial paper held for short
time investment by bankers and bust
nesS houses in this district continued
(: during November the increase which
was started in October, indicating
somewhat easier money conditions.
These improved financial conditions
were recognized by the reduction or
November Z of discount rates at this
federal reserve bank to 5 1-2 per cent
IN all kinds Of loans. Federal re-
serve notes outstanding declined dur
ing the five weeks ending November
80 about IL millions as compared with
a decline Of II nillionaa during q
similar period a year ago. Other
FEDERAL reserve banks experienced re-
duced loans and reduced note issues
the amount for the ~ federal reserve
hansk beng 116 millions and 55 mil
lions. respectively, during the five
weeks ending November 80; and this
is shown TO be a seasonal occurrence
by comparison with reductions of rs
millions and, about 80 millions. re-
spect!vely, a year previous. Loans al
the Ninth district federal reserve
hank declined an additional z mil]iont
between November 80 and Decembel
IA, while federal reserve notes out
standing increased one-half million
dollars. The gold reserve OF this
federal reserve bank. totaling over
Sc millions on December IS. exceeded
the note issues Outstanding for the first
time since September s, 1919.