The Bismarck tribune. [volume] (Bismarck, N.D.) 1916-current, 1921-01-31
PRICE SLUMPS
FEATURE IN
MONTHS NEWS
Livestock Quotations at South
ST. Paul Decline During Dec.
Lowest In November
UNEMPLOYMENT GREATER
Prices of Building Materials
Continue in an Unbalanced
Condition-Banking
~'
Operations

Minneapolis, Jan. 31.-Price slumps
ere the outstanding features OF the
month OF Janaury, according It. a
statement issued today by the Ninth
Federal Reserve bank 1t follows, in
part:
General Price Situation.
The most important business event
in the month Of December was the
general and substantial decline in
prices at wholesale OF practically ali
commodities The declines III Decem.
Der, when added to those Of the pre-
ceding months, have marked the year
1920 sa one of greater readjustment
in price Levels than mas ever been
witnessed. The effects nave not been
lifferent from those in other periods
of business decline, such as li-
4l1inished buying, decreased prodlic,
ion, increased unemployment, aud a
stronger desire to economic, save,
pay up debts and invest. The p1.ces
of products in the northwest have
declined in harmony with those OF the
other producing sections and in0us'
.ries OF the world. p. =
uc Iilculdu NuOtdIlOAo AOi So'AA
sales OF all grains at Minneapolis were
over in December than in November
except for rye, Which advanced one
cent per bushei. All the quotations,
without exception, exhibit narrower
t%nge in December than in November.
these median prices furnish an index
of conditios prevailing throughout the
month and are a means for simplify
ing the variations due to changes in
daily quotations. The mediah is that
price at which the number OF bushels
sold at a higher price is exactly equal
to the number of bushels }sold at a
lower price.
Livestock Prices Down.
All livestock prices at the South st.
Paul stockyards as shown by the me-
dian quotations in December and NO
yember declined, with the single ex-
ception of lambs. Even in the case Of
lambs, the highest and lowest quota
tions were lower in December than
the highest and lowest in November
This tendency for quotations to fall
within a narrower range Is evidence
OF more stable conditions as to prices
end demand and supply. Prices OF
wool declined, as well as wholesale
produce prices for butter, eggs, cheese,
notatOes. oranges, veal and hogs.
Unemployment.
The Ninth federal reserve' district,
during the last four months. has ex'
perienced great increase in the
number Of unemployed. Minneapolis
concerns which employed 26,703 per-
sons a year ago reported to. the civic
and Commerce association a reduc-
ton to 20, ,7O8 on or about January ],
1921, or a decrease of ~ IL per cent
The reductions are greatest IN the
woodworking, paper, iron and steel IN
dustries, which indicate reductions as
high as 33 per cent or more. Mining
companies in Montana report reduc'
,tion in the number Of men employed
during the month of December equal
to 30 per cent of the number year
ago. The Michigan mines, as well as
lumber manufacturers throughout the
whole district, report a reduction IN
the number of employees OF "a per cent
of year ago.
General Business Conditions.
There was decided shrinkage IN
the volume of business during the
four weeks ending December ~ as
compared with the four weeks ending
December /, when measured ny tae
volume of payments made through
clearing house banks in the eleven
most important cities of this district.
The December volume was 10 IL per
cent less than in November, whereas
a wear ago between the same months
there was a decline of less than :
per cent. 1t is. evident that the ce
cline is much more than seasonal.
Also the total in December IS I per
cent less than a year ago. Ihe Guy
of Superior alone exhibited gains ever
last month and over year ago.
The production of flour mills IN TINS
district for the four Weaks eudl:'s'
December % declined about - per
cent as compared with the four weeks
ending November 27. The total pro-
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