The Mankato free press. [volume] (Mankato, Blue Earth County, Minn.) 1879-1924, 1921-01-07

more striking contrast is shown with
the figures of year ago, the valua-
ton of current permits having de-
clined to 3S per. cent Of November
1919. The cities of Great Falls,
Missoula and Fargo exhibited sub
srantial increases despite the general
downward tendency.
Reports from a selected list OF
lumDer manufacturers and retailers
covering operations for November,
indicate subs tantial decnnes In lum-
Der cut. in snip .nents by manutac-
turers and in sales by retailers. In
a comparison made with year ago
for these same companies, it appears
that there nave been substantial de-
cllneS in shipments OF manuIactur-
ers, in sales OIL retailers, In lumber
cut, and in the number OF men en-
pioyeu, but there were increases in
stocks on hand, both for manuiac-
turers and retailers.
Lake Transportation
Inter lake naVlSaLlon closed Dec
ember Ii with q total tonnage of iron
| ore shipped 1som upper lake ports
from the opening OF navigation OF
| oS, oZl ,226 tons which is "a per cent
larger than during the preceding
l
the 10 year average from 1909 to
! 1918 inclusive. The total coal tonn-
! age received at the Duluth Superior
harbor from the opening to the close
| OF navigation totaled S,Q30,bS6 tons
which was l02 per cents OF the re-
ceipts in 1919 and 79 per cent OF the
! receipts in 1918, and about 80 per
from 1915 to 1919. Exceptionally
| favorable weather conditions at the
end of the season made it possible
! TO overcome some of the deicien cieS
OF the spring months. The seasons
receipts or coal when added to the
stocks on hand at the opening Of
navigation in 1919 were 11,330.000
tons, and Tor 1920 but $4,000 tons.
The shortage Is greatest Tor bitum1-
nous coal, amounting TO 100000 tons.
| Freight tonnage passing through the
500 Canals In November was less
| II an three quarters OF the October
volume but nearly double that of a
year ago.
General Business Conditions
The general situation as TO changes
which took place IN the volume or
business and in the price level dur
ing November may De measured by
1.-THE volume of payments made through
clearing house banks in the eleven
most Important cities Of this dis
trict. The average volume per week
| during the five weeks ending Dec
ember l as compared with four weeks
ending October q indicated a de-
cline of per cent. Some OF this de-
cline may be considered as seasonal
because comparison OF similar Per.
lods last year indicated a decline OF
lour per cent.
Statistics OF business failures are
valuable only as an index to past
business conditions and do not fur
nish a reliable barometer as to fu
! ture conditions. However, the de-
=, velopments of business failures in
November are interesting as they
indicate defnetly that losses on in
fits on turnover. The number of
failures in the Ninth Federal Re-
serve District for November was
| Chirty-seven as compared with six
teen in October and as compared
with six in November year ago.
The total liabilities of the failures
in November were $1,235, 900 as COM
pared with $4,000 in No October, and
| as compared with $1OS,000 in Nov
ember a year ago.
i Retail trade enjoyed an Increase
in sales during November as com
pared with October, and owing to- the
| fact that stocks, were lower, there
was an increase in turnover. Both
stocks and sales measured in dollars
rather than in quantities were larger
than in November a year ago.
Months Summary
| November when compared with
October was a month of declines in
the production of lumber and copper;
| in building; in the transportation
of grain, ore, and coal: in the num-
Der of men employed in the extrac-.
tive industries; and in prices. There
was some increase in the production
Of -four, the movement of livestock,
and in the sales of retail stores, but
! the declines predominated as shown
/ by the volume Of payments through
the banks.
1920,-This year has witnessed in
November a much larger movement
of grain, livestock, iron ore and coal
than q year ago, but production de-
clined in -four, lumber, copper and
building. Stocks of grain are lower
than a year ago and all prices are
lower but banks loans and interest
rates are on a much higher level.
The increase in transportation OF
commodities evidently .skGeeds in
importance the decrease III produc
ton and manufacturing. as.the total
payments through banks increased
over a year ago. Both sales and
stocks of retailers, when measured
in their dollar values, were larger
than year ago.
FORUM MEETINGS BOOKED