Grand Forks herald., 1922-05-26
CROP OUTLOOK IN NORTHWEST IS
IMPROVED AND PRICES BETTER,
SAYS NINTH DISTRICT REPORT

A00kUSA NV0O1k4V01 -8 Al
Most All Lines Are About
Normal.
Minneapolis, MINI. May 2s.-An
improvement in the crop outlook,
with stabilized or improving prices
for farm and range produce charac-
terizes the month OF May. says the
Ninth District Federal Reserve banks
monthly report issued today.
Improved buying in urban centers
owing ito a large building program
and the reopening of copper and iron
mines. is evidenced also. the report
adds while credit facilities are In
position to finance substantial in
crease both in industry and market
ing.
Prostccts Promising.
In its summary, the report says:
Crop prospects appear very prom
wheat has had excellent growing
weather in the northeastern state
with less than the five-year average
of winter killing, which means that
II no unfavorablc developments occur
later, there will be an increased pro-
duction' over 1921.
Rye in this section has increased
enormously over last year in acreage;
and present conditions appearjto war
rant final crop fully two-thirds
larger than last year, North Dakota
anticipating most heavily in this in
creased production. Spring wheat
seeding was unseasonably late in
Montana. but reasonably Satisfactory
elsewhere. egs-a,. nj z
Big Livestock Loeses.
Livestock in this district as a whole
came through the winter in average
condition, although there were losses
greater than normal in North Dakota
recent survey indicates that Mon
tana will have more wool than last
year. Better production in Mime
sofa has increased 10 per cent.
The marketing movement and prices
OF farm products remain substantially
unchanged. Hogs. cattle and calves
moved to market moIes rapidly than
is normal for this season, but the
movement OF sheep and grains was less
than normal sfars q Urn. oats Aiasi
nsrssx. The has ytn.1
denHn Maa5ssas sas 3 d IT! I
strenstfened n sSiea sa8 ss
cent weeksss saH karysae fSs Y
changed pric Sfs m q lGsSs
sumers haassSxp n gy5:se "a
crease in fhex pS =
in the aSsEAgs asos
! nlslyta ss|gs
The volume ef bsil3 3 s|sSss sS
improved with cord 81 1S n ~
| in retail lumber sales andadSpA -
stores sales and less tharfs AAut s
decline in the sales of mail Urd&f
houses. Wholesale trade improvedss
considerably for manufacturers ship.
ping lumber and wholesalers Of farm
implements and of hardware, al
though groceries. shoes and drygoods
have declined.
| Stocks Of merchandise and mater
ials remained about the same during
the month on the average, although
there has been an increase in the
stocks OF department stores and in
the elevator stocks of wheat, corn
and barley. When. stocks are COM
pared with a year ago it appears
grains except flax. and for department
stores. but substantial decline in the
case Of lumber retailers.
| Manufacturing indicates mixed con.
ditons with declines in the production
of flour and linseed products. but a
small increase in refined copper pro-
duced and doubling Of lumber cut
1 pN tcnU0nCleS
are shown in the same industries when
com pared with year. go.
More Building.
Building operations projected in the
important cities in this district dou-
hled in April. as compared with
March, both in number and in va lua-
larger than a. year ago. An improve
ment in the, rental situation locally
is indicated by the number of rental
advertisements. increasing more than
one-half as compared with a year
lago.
i Employment conditions have inn
proved noticeably because of the re
ling operations. and the high pressure
of farm labor demand occasioned by
1.-THE late spring.
1 The volume Of general business
measured by bank debts. coupled
with consideration Of the forego-
ing factors, indicates there has not
been much change since last month.
The lack of substantial improve
ment in volume has further delayed
the expected Improvement in statistics
lof business failures. April failures
were much larger both in number and
liabilities than year ago, although
there has been some reduction In lia-
bilities as compared with March. The
reopen'ng Of traffic on the lakes ON
and did not influence the volume Of
business substantially duStng the
mon. h. sl3 Ss s{5
J. Finances sasisfactory.
Financial conditions from the stand
,,oint Of available credit facilities are
!. very satisfactory. Selected member
banks In eight large cities reported
4 FsSp R,,o 3,a