The Bismarck tribune. [volume] (Bismarck, N.D.) 1916-current, 1923-10-29
IN
RURAL TOWNS
is IMPROVED
Decline Shown in Cities From,
September Reports, Says
Federal Reserve Bank
BUYING is BETTER
Change of Price Trend Is Held
by Bank to Have Good
Effect on Business

Minneapolis, Oct. 29.-"Statistical
evidence now available covering bus
mess conditions during the month of
September indicates very definitely
that there has been an Improvement
in country districts and = declin. IN
the Cities" says the monthly sum-
mary of the Ninth District Federal
Reserve Bank on business conditions
announced today. The report con.
tinues:
"This Improvement in the country
has taken the form of q revival of
buying and appears to be based on :,
solid foundation. Computations made
by US based upon latest information
published by the United States De-
partment of Agriculture concerning
production, value and prices received
on the farm on October l, Indicate a
substantial increase over last year
in the dollar amount Of the avail
able purchasing power Of the farm
er. For the grains and potatoes, this
increase in dollar value of phrchas-
ing power amounted to nearly 70
million dollars or an increase of
about ID per cent as compared with
a year ago, all states of this district
having an increase except North Da-
kota. 1t is remarkable that there
should be such an increase in aggre-
gate purchasing power at the same
time that there was a decline in the
value of the wheat crop alone Of
about SO million dollars. This means
that the : production and prices of
other crops have increased values
more than double the loss on wheat.
A large part of the credit for this
satisfactory result mxst be given to
corn which will yield So million more
bushels and contribute a value of
nearly 100 million dollars above a
year ago.
Rye Failure Blessing
"The failure of rye to materialize
in many parts Of the district be-
cause of winter kill and poor stands
SO that the farmer had acreage
available for spring planting, was a
blessing in disguise. Rye is the only
grain produced in this district which
declined in price as compared with
year ago, owing to an enormous
increase of rye acreage and produc-
tion in Europe. Much of the land
which had been seeded to rye was
later available for the planting Of
flax. Those who needed advice on
market needs planted flax in the
spring and have, according to present
indictions, obtained most excellent
results. The total flax production in
this district was almost doubled, and
the dollar value on the farm was
about 10 million dollars more than a
year ago without a break in the
price. In addition to the improved
prices for grains, farmers have also
enjoyed increases in the prices of
butter, beef cattle, veal calves. lambs,
wool. and other products, as com.
pared with q year ago.
Coupled with the foregoing inn
provement in dollar value Of pur-
chasing power enjoyed by the farm
ers, there has apparently been q de-
cline in the price Of commodities
purchased by him. The index o.
wholesale prices for non-agricultural
products declined for the year end
ing in August about 7h per cent,
and while this decline in wholesale
prices may not be immediately re
Elected in retail prices, it is certain
to have some influence in that di-
rection. ~
Grain Prices Batter
"The median prices slkesised for
grains in September, an Of which
were better than ! year age except
in the case Of rye, exercised ! pro-
found influence upoa the quantity
of these sgrains marketed . shown
by the Minneapolis receipts. Flax,
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