Grand Forks herald. [volume] (Grand Forks, N.D.) 1916-1955, 1921-06-28
FEDERAL BANK
REPORTS GOOD
CROP PROSPECTS
General Business in June
Not Much Changed Dur
ing Month Of May.

ing Monthhof May.
Minneapolis, June 2s.-The May
crop and business summary OF John
H. Rich. agent for the Ninth Federal
Reserve bank district, AN, ia part:
Agricultural prospects continue very
favorable. Spring wheat production
Is expected to be 10000 80 bushels
reduction in acreage. North Dakota
has better prospects than in any year
since 1915; and northern Montana
better than in any one Of the last
four years. Range conditions for live
stock are excellent and Montana re-
ports an unusually large lamb and
calf crop. Grain prices were higher
in May and this rise, coupled with the
belief among business >men that
there will be a substantial revival Of
business activity when the crop moves
to market.
The volume of business was about
the same On May as in April. Pay
ments mad through banks increased
about two per cent. which is the same
rate Of increase shown between the
same two months the preceding year.
Oo@oA ASSSApIS III IAAO lA1OC 1dl 6SSI
cities decreased six per cent while the
number Of persons employed In the
larger establishments in the Twin
Cities increased four per cent Com
Parsons with a year ago indicate q
reduction in business activity. Pay
ments made through banks at 26 per
cent less, postal receipts 10 per cent
less and retail sales are is per cent
less in dollar values. Also. requests
for Ia hnr oro ohnl1f nno-fhip6 uh310
applicants placed > by employment
agencies are about one-half Of a ear
ago. Lake traffic west bound and east
bound, combined, was one-third less
than a yea ago. Iron ore shipments
from the upper Great Lakes were one
third of a year ago., while copper pro-
duction in this district is about one
Grain Msr IKE at Low Ebb.
The marketing of live stock and
grain is at a low ebb. The decrease
as compared with a year 6 was 20
per cent in live stock and IL per cent
in the cas- of grain. Receipts in May
were IL per cen less for grain as
compared with the month Of April. It
is ~regrettable to notice that the ship
ment of feeders declined 10 per cent
in May as compared with April. while
the May totals were So per cent less
than the same month the ear previ-
Gus. Terminal grain stocks declined
one-ifth in May. but at the end Of
that month were one-third larger
than a yea ago.
Some important industries oS the
district recorded gains during May.
Lumber cut by manufacturers in
creased 40 per cent, while retailers
cent. These are now practically the
same as a ear ago. Flour n lin
seed production declined about IL
per cent, although flour shipments in
creased due to a full month of open
navigation in Duluth. Flour exported
from Minneapolis vas fully so per
cent more than last year for the five
months to June l.. Coal is moving to
the head of the lakes in much better
volume than a year ago. Business
failures reached a new high level IN
May.
There was a noticeable relative in
Yin housing accommodation
available as indicated by rental Of
.feings which were o~ne-fourth greater
in May than in April and about one
half larger than a year ago. Pros
pective building operations appear to
have reached a peak in April because
May witnessed a decline, both in
number and valuation of permits is
sued in ten important cities Of this
district. Nevertheless, May exhibited
a much larger volume of building
projects this year than a year ago..
Crop And Range Conditions.
The month of May has been excel
lent from the standpoint of growing
grains, although somewhat cool for
corn. On the whole, conditions are
more favorable in the district than for
a number of years past. North Da-
kota reports the best crop prospects
for the state since 1915, and northern
Montana has the best prospects In
four years.
Conditions this spring have been
SO favorable for growth that the total
estimated spring wheat production IN
this federal reserve district is at least
5000, 900 bushels more than the pro-
duction of 1920. A few complaints
have been received from North Da-
kc:a of damage by May wind and
cutworms, but these reports are
scattered and unimportant up to this
time. :,
This increase in production is true
despite a reduction in acreage IN
1921. According to the government
wheat acreage in the Ninth federal
reserve district is six per cent less
than the acreage for 1920. The heavl-
est decrease in Minnesota occurred in
the southeastern part Of the state
with the northwestern part a close
second. Considerable idle Ian is re-
ported in the latter section.
Oats Acreage Increases
The acreage for oats for 1921
showed a slight increase, Montana
being the only state in the district
whose acreage was below the 1920
figures. The increase in t acreage
is probably due somewhat to the
cheapness of seed, h small noun
of expense required for production
and the excellent crop yield in 1920.
Barley acreage in 1921 shows a slight
decrease in the district. although
Montana has a barley acrease equal
to las year.
The Montana sugar beet acreage Is.
larger than last year with a crop
condition at this date Of IS per cent.
The prospective hay crop in h
whole district is very favorable.
Montana will have twice as large a
crop as in 1919, and there was vet
on Montana farms OF May l.. 1921,
80 per cent Of the 1920 crop. or 1885,
900 tons. The hay crop in South Da-
kota increased from a condition Of SO
per CEN on May LIST to 81 per cent on