Grand Forks herald. [volume] (Grand Forks, N.D.) 1916-1955, 1922-05-06
BUYING POWER. 4
OF THE FARMER
Is INCREASING
Chief National Bank Elk.
arniners Report General
Economic Strengthening
(By The Associated Press

Washington, May 6. - General
strengthening OF the economics ma
chinery OF the nation was reported
yesterday to Comptroller Of the Cur
tional bank examiners representing
the federal reserve districts of the
country at their annual meeting in
Washington.
In the main the examiners said
there had boon a noticeable improve
ment in business conditions through
out the country together with restored
confidence and a favorable outlook for
the future. The belief was expressed.
however, that progress toward normal
conditions would be gradual and not
an owe night accomplishment.
Revivtng purchasing power Of the
farmers was reported by Howard NJ.
Sims Of the Minneapolis district.
From a commercial standpoint" he
said, business in the ninth district
has been considerably impaired by
reason of the lessened purchasing
power Of the farmers. Since March
1 there is however an increase noted
in the sales of merchandise which Is
particularly marked in the sale of
farm implements Inc machinery.
Commercially speaking, further i'm
proved conditions now are directly
dependent upon rop results of the
present year" =
Other Districts.
Marked improvement in New Eng
land business conditions vas reported
by Herbert w. Scott Of the Boston dis
trict..
In the New York district, business
generally shows q, wholesome trend.
although still depressed in all lines.
according to D. c.. Borden.
/. ~. Dl}1o 4I~hSo 81 s.~~II .~> %k~ -~Dv1 -
recovery Stephen L.. NEWMAN report
ed, with a strong tendency toward in
crease in manufacturing production,
building operations. reduction of un-
employment and with good crop pros
poets in most sections"
Continued improvement is expected
in Cleveland, according to T. C.
Thomas. Business" he said, Shows
a decided upward trend" -
Less favorable reports from the
Richmond district were presented by
situation is Serious he said. THE
commercial situation in general is fair
but nothing to enthuse over. Finan-
cial conditions are probably poor"
Florida conditions are better than
any state in the Union, according to
w. J.. Pole of the Atlanta district.
The citrus and truck crops in Florida
have been splendid with satisfactory
price and therefor the situation in
that state is probably the best of any
state in the Union"
Considerable increase in the grain
on hand in the Chicago district was
reported by Fred Brown, as well as
heavier exports. Stock and bond
prices are advancing, he declared, au-
tomotive. steel. machinery and allied
lines expanding n belief in the re-
vival Of the spring trade is expressed.
Farmers Morale Returns.
1.-THE morale of the farmer is slow
~ returning" John S. Wood, OF the
F.! St. Louis district declared. 1.-The in
crease in prices of grain and livestock
have renewed his hope and has given
him courage
Kansas City is over the HILL, ac-
cording to Luther X. Roberts. En-
HANGED prices for cattle. he declared,
have restored the value of farmers
! securities and rising values Of hogs
and corn are helping conditions meas
ureably.
"There cannot be an Improvement
under a year" according to Richard
no great Improvement under two. or
three years. Two or three crops
have to be made before improvement
can be made"
Pacific coast bankers look to inter-
national effort to bring about world
restoration, according to Harry L.
| Machen, of the San Francisco district.
Slightly better times are at hand but
the we'll informed banker expresses
the opinion that gesuine prosperity is
still around the corner" he said.