Grand Forks herald. [volume] (Grand Forks, N.D.) 1916-1955, 1921-05-30

reserve HOte0 IL SuOWn
IN Chart No. A. covering the period
from January l, 1915, to the latest
available date. According to the
curve shown in this chart we are
rapidly approaching the conditions
Of the year 1913. The decline DUR
ing the early part of this year has
been much more rapid than the sea-
sonal movement exhibited in the early i,
part Of 1919 and 1890.
The Volume Of business.
Payments through banks in the
twelve most important cities in this
district for the four weeks ending !
payments for the four weeks ending
March 80, but were "a per cent less
than during the corresponding period
in 1920. This increase between March
and April in the total volume Of bust
ness transactions as indicated by pay !
ments through banks is normal
spring occurrence. In 1920 the in
with the 6 per cent increase this year.
AS a matter of fact, the physical vol
ume of business did not decline as
much as "a per cent between April
Of this pear and the corresponding
month a year ago.. The volume OF
payments through banks is deter
mined not only by the number and
SCVpc OIL UUSlHcS tIA11daEtAOuS, OutJ
also BY the prices at which the trans
have been declining, the physical vol
Tune OF business done in April, 1891,
did not decline rs much as ~ per
cent in comparison with 1920.
The total value OF business trans
actions from the first Of the year to
April 81 has been shout 22 per cent
below that Of the corresponding Pc
Y{NA NJ 162n &C. vnAA OYyNoA Hyp ~lIr-
ments through banks in the twelve
cities Of our district which report to
us. The figures reported are for
1891, $2.2l0.76e, 900, and for 1890, up
to and including April Is, $3,317.-
o7o, oe0. 81
Crop Conditions.
Flowing and seeding were about
ten days further advanced this year
than the normal condition on May L.
pleted in Minnesota and North and
South Dakota, and the. small grains
are being seeded. rapidly. Flowing
for and seeding Of corn is progress
ing nicely in Minnesota and South
Dakota. Montana seeding was about
finished on May Is. Planting Of po-
tatoes and sugar beets 10 continuing
and all indications now point to an
increased acreage Seed potatoes are
abundant and very cheap, especially
in South Dakota. While the recent
cool weather has retarded the growth
OF grains somewhat It has caused no
damage. and number Of fields seed
cd early are we'll above ground. The
recent rains were particularly appre-
ctated by sections of Montana where
1t was thought irrigation would be
necessary to insure q crop. It Is re-
ported that they have moisture nov
in sufficient quantity to carry the
crops through until the arrival Of the
June rains.
On the whole. winter wheat and
rye are in excellent condition for. this
time OF year. Minnesota has aban-
winter wheat; Montana FL per cent,
and South Dakota, 10 per cent. There
has been some loss in Minnesota from
alternate freezing and thawing, and
some in Montana from the dry condi-
tions Of last fall and early spring.
Cutworms made their appearance in
the north central and central parts Of
caused some damage. The wheat
which remains to be harvested. how
ever, has an excellent stand, and
from all estimates will yield a greater
number Of bushels than the produc-
ton Of last year, even though the
ocfe4Se IL somewhat What
is true Of winter wheat in this district
is equally true Of rye. The outstand-'
ing feature Of the rye report is the
shrinking acreage in North Dakota.
In 1919 North Dakota harvested L.
S4s, 900 acres of rye and in 1920
$4,000 acres. while in 1921 the
acreage to he harvested is but 016.-
900 acres. This great reduction is due
to the hopper menace which has de-.
troyed many acres Of crops in North
Dakota during, recent years. The
condition OF rye il above the average
in North Dakota, ranging from fair in
the western counties to very protmis-
ing in the eastern. according to the
department Of agriculture report OF
May .. ii
It Is interesting to note that in 1920
four states within the Ninth. Federal
Reserve district produced s5 per cent
OF the flax. 81 per cent of the spring
wheat. 81 per cent Of the barley and
Is per cent Of the rye produced in the
entire United States.
i