Great Falls tribune. [volume] (Great Falls, Mont.) 1921-current, 1922-10-08
BUSINESS GOES
TO new LEVEL
DURING MONTH
Despite Decline in Prices of
Grain Conditions i'm Zone
Better.

Despite the fact that grain prices
as a whole have declined there has
been a general improvement in the vol
UNI and condition of business during the
last month in the states of the Ninth
federal reserve district, according to
The monthly report of the agent, John
III. Rich of Minneapolis.
On the effect of grains on general
conditions and the present status of
the market. the report reads:
THE prices of all grains have de-
clined, and some of them heavily. This
has tended TO minimize the advantage
of a big crop. Marketing of rye, cat
tie and sheep has been abnormally
heavy and all livestock prices have de-
clined except for calves, the latter
being sustained by the substantial
movement of feeders back to the farms.
Lumber, copper aud iron ore produc-
ton, as well as building and most man
u~facturing, has been better in volume,
both as compared with last month
and a year ago. Employment has been
normal and accumulated stocks of mer-
~Chandise and materials have not chang
ed greatly except for some declines in
lumber. The crop moving demand for
money to date has not been heavy. in
terest rates have declined substantially,
and investment funds are in much bet
ter supply. However. the general i'm
provment both in volume of business
and financial conditions has not helped
profits sufficiently to reduce business
failures to q normal level. 1t will re-
quire several months to determine
whether the apparent gain in the mo-
mentum of business in this district will
continue in the face of a coal move
ment up the lakes equal to but 6 per
cent of n year ago and if the present
price level is maintained for the grains.
Prices Take Slump
Prices at central markets in this
district for a majority of the products
of the farm declined in August from
the July figure. due rather to the
weight of supplies than to decline in
demand. Livestock prices for the
grades which this office records showed
three declines, one increase and two
prices unchanged. Heavy marketing
of cattle and sheep broke the median
price of butcher steers S2,15 between
July and August and the median price
of lambs but % cents, the smaller re-
duction of the latter being due to the !
increased demand for feeders. Although
there was a decline from July in the
receipts OF hogs, the abnormally heavy
receipts forced hog prices to continue |
nv VNAiS WITH SIoI ltu III May, IlP !
slump this month amounting to SIPS.
The median price of butcher COWS and
stock and feeder steers remained I'M
changed, and the median price of calves
rose sharply ($1.75), rejecting the
increasing demand for feeder calves
which has affected the price a month
earlier this year than a year ago.
"Grain prices were all lower for
cash sales at Minneapolis in August
than In July, rs is to be expected when
the new crop commences to reach the
terminals. The median price of wheat
broke 80 cents between these two
months, showing the effect of weak
European support, as well as the heav-
Ter receipts. Rye, which sells on a
much lower level, was in extraordinary
favor with European buyers and, there.
fore, declined less than 6 cents. Flax
declined % cents, barley was off Z
cents and oats off more than 3 cents.
The median price of corn remained
practically unchanged.
Double July Receipts
Grain receipts at Minneapolis and
Duluth during August were more than
double the July receipts, owing prin-