The Bismarck tribune. [volume] (Bismarck, N.D.) 1916-current, 1923-08-28
TRADE VOLUME
IN NORTHWEST
REMAINS HIGH
Seasonal Declines Not Great
Enough in July to Disturb
The Balance, Report
Says
DEPOSITS INCREASED
Banking Conditions Are
Somewhat Easier, Says
Ninth Federal Reserve
Report

Minneapolis, Aug. 2S.-The total
volume in nearly all branches OF
trade and industry is above the level
of year ago, says the monthly re-
port 81 the Ninth Federal Reserve
District, Minneapolis, issued today
and covering the month OF July.
There were seasonal decreases IN
trade during July.
1.-THE outlook for new business may
to some extent be estimated by a
consideration of projected building
activity as shown by building per-
mits and by stocks of merchandise
on hand" says the report. "The
building permits increased in valua-
tion more than one-third during the
month, which coupled with small
seasonal decline in their number, 1t.
creased the average building permit
considerably for the month. These
permits have kept up the volume
which prevailed year ago."
Bank Deposits Larger.
Banking conditions in northwest
ern cities at the end Of July showed
a somewhat easier situation than at
the end of June, for, while loans in
creased, there was more than cor.
responding increase in demand and
time deposits and considerable de-
cline in borrowings, the report con-
tinues:
"In the balance sheets Of 27 Sc
lected member banks in the larger
cities Of the district, loans increased
one and one-half millions during the
four weeks ending July rs. Demand
deposits increased almost two ana
one-half millions and time deposits
increased two and three-fourths mil
lions. Borrowings from this Federal
Reserve Bank declined almost two
millions during this period. At the
same time there were declines of
nearly two and one-third millions in
government deposits and almost one
million dollars in security holdings.
During the two weeks ending August
8, these same banks experienced a
decline in loans equal to the increase
during July and demand and time
deposits remained about the same in
total as at the end of July although
there was decline in demand de-
posits and an increase In time de-
posits. Borrowings from this bank
declined a further two and three
fourths millions and security holdings
were reduced one and three -fourths
millions.
Savings deposits at Minneapolis
st. Paul and Duluth were about as
large on the first of August as on
the frst Of July. The total was IL
per cent larger than year ago.
Some Marketings Increase.
With regard to agricultural. condi-
tions the report says it is difficult to
make an estimate at this time, be-
cause threshing is just now under
way. The report continues:
"The prices of farm products st
terminal markets declined during
July but there were notable excep-
tions, such As the increases in prices
Of hogs, calves, corn and barley. Pos
sibly the continued discussion and
agitation regarding agricultural con-
ditions has depressed sentiment to
such point that present prices may
indeed reflect rather pessimistic
conclusion regarding prospective
market conditions when all crop re-
turns become known and production
In other countries has eventuatsd.
1T 10 interesting to note the vol
ume Of current agricultural market
ing, which is reflection Of produc-
tion, when compared with the aver
age for the past ten years. The vari-
ations shown by present conditions
(Continped on page y