Grand Forks herald. [volume] (Grand Forks, N.D.) 1916-1955, 1921-09-30

Increased 20 per. cent. In the years
1913 and 1920 both manufacturers
and retailers experienced declines
during the same period. This post
seasonal boom. however, has not kept
the volume of shipments by manu-
facturs or sales by retailers up to the
quantities of August a:year ago.
Big Corn Crop.
This Federal Reserve District will
produce q total: corn crop larger than
in any other year according to the
September l. estimates OF the United
States Department of Agriculture,
forecasting aFtotal production for the
four states of Minnesota. North Dako-
ia, South Dakota, and Montana, OF
2b9,806,000 bushels, which Ii 6 per
last yea The most economical
method of marketing this grain will
probably be found to be it's use for
the production of live stock. S
Business opinion as reflected by the
comments Of about 60 selected bust
ness mel indicates that the volume Of
business in August was below normal
in practically every case n that it
was stationary or declining in a ma
5oity Of cases. although a substan-
tial minority stated that it was i'm
proving.
Payments through banks increased
slightly in August whereas normally
there is a slight decline in that
month. Retail trade in both sales
and stocks increased Z per cent al
than a year ago, owing to price
changes. Wholesale trade. sales de-
clined Is per cent iH a%griculturaa i'm
PIGMENTS, owing to economy in farm
ing sections; remained unchanged in
hardware, owing to the prolonged
building activity and increased SO per
cent in dry goods in anticipation OF
fall and Christmas needs. Collections
in the wholesale trade were better
during August than in July but not
as satisfactory as in August a year
ago..
The majority Of grain and live stock
prices As we'll as the price,of -four de-
J clineds during the month of August.
The declines in median prices OF
grain were about as follows: Wheat,
27c,i rye lie, oats SC, and barley &c,
while flax Increased 12c.A The de-
breasts in live stock quotations did not
exceed in any case $3.50 per hun
dred. Wholesale produce exhibited
nearly as many increases as decreases,
Bank Credit.
Bank credit in the northwest ex-
banded in August. T~hirty-dive mem
Der banks, In the larger cities in
creased their loans to customers by
five Omillion dollars and paid off loans
to>the Federal Reserve bank totaline
one-half million dollars. Meanwhile
the Federal Reserve bank increased
it's accommodation one-half million
dollars, therefore it's accommodation
to country banks and agricultural
communities was increased ont mil
lion. Time and savings deposits in
the Twin Cities declined, although re.
manning at higheI levels than q. year
ago. Sales Of investment securities
exhibited a similar tendency. Out
standing Federal Reserve notes Of this
bank declined nearly 3 per. cent dur.
ing August and reflect to some extent
the price declines of the month and
possibly the termination Of a small
amount Of boarding among the un-
employed. Market interest rates in
this district remained unchanged dur.
ing the month ending September IL
except that the usual rate. charged or
4 to 6 months customers paper a.
banks declined f5pm Z IL to Z pei
cent.
Lake traffic measured by the vol
ume passing through the 500 canals
p declined s per cent. There was ar
increase Of Z. per cent in iron ore
shipped eastward from lake ports and
coming westward and received at Du'
luth-Superior. Iron ore shipment!
forsthe year to date are So per cen
less than q year ago while coal re
ceipts for the year to date are 80 pei
cent greater than a year ago. Thu
coal receipts are heavier than in an,
one Of the three preceding years:
Although the -four output In thu
district increased 20 per cent in Au'
guet as compared with July, this wal
less than the normal increase shown
during this month by the United
States during the last six years. Flour
shipments at Minneapolis and Duluth
increased "A per CEN during thu
month while the shipments Of hnseet
products from Minneapolis increased
81 per cent. Both the -four sshipment'
and linseed shipments r more Thar
& 10 per cent greater than q year ago
Business Fnilures.
Business failures reached record
breaking figures In August. A new
high record was established for thu
number OF failures in any month
there being ~ In August as compar
ed with az in July and 18 in August I
year agoSwhile the liabilities were !
l-2 times az large as in July and y
times greater than a year ago. Their
has been only one month. with create
liabilities, y namely, February 1921
Foreclosure sales in MINNEAPOLIS un
der mortgages were greater In Angus
than In the preceding month or
year ago. both as to number ant
amounts. s