The Bismarck tribune. [volume] (Bismarck, N.D.) 1916-current, 1924-11-28
BUSINESS AT
HIGH TOTAL
IN NORTHWEST
Reaches Over One Million
Dollar Mark in is Import
ant Cities in October
SUMMARY is GIVEN
Federal Reserve Bank OF
Minneapolis Reviews Sit
uatiOn in Northwest

Minneapolis, Nov. 2S.-The volume
Of business in this district in Octo-
ber, when measured by individual
debts in l6 important cities, reach
ed very high total of 81, los, ,086, 900,
says the monthly report Of the Fed.
eral Reserve Bank Of Minneapolis an
nounced today. The report continues:
"This was 10 per cent larger than
the previous record figure of OctO-
ber, 1920, and nearly so per cent
larger than the total in October last
year. This tremendous increase is
to be explained largely by the rapid
and heavy movement of the bread
grains, which began in September.
The condition Of the labor market
locally indicates business expansion,
because data compiled by US shows
that the unemployed laborer is in a
much better bargaining position now
than at any time since April Of this
year.
Grain receipts at Minneapolis and
the Head Of -the-Lakes reached the
remarkable total Of 98,S65,652 bus
hels during October. The immensi-
ty Of this figure is best shown by .
comparison with September receipts
this year Of about 86,OO0,OOO bushels
and October receipts last year of less
than 35,OOO,O0O bushels. More than
half of the grain marketed in Octo-
ber was routed to Duluth and nearly
52,OO0,0O0 bushels were shipped down
the lakes during the month. Prices
of all grains advanced during OctD-
Der. with the exception Of corn, which
declined four cents per bushel in it's
median price.
Demand Good
European demand for North
American bread sLufs continued
strong during October. Wheat ex-
ports from Atlantic and gulf ports,
including both Canadian and Ameri-
can grain, amounted to 42,55G,000
bushels in the four weeks ending
October 25, as compared with 1880,
600 bushels in the same period last
year. These figures are derived
from the weekly reports of the Com
mercial and Financial Chronicle.
Flour exports from the some ports
totaled 2,lS5,O0O barrels in the same
four weeks of October, as compared
with l,ol7,0O0 barrels year ago. Rye
exports amounted to l2,476,O0O bus
hels in the October period, while in
the same period last year, they total
ed only 2,795,O00 bushels. AS prices
Of wheat and rye were forced upward
by this export demand, European
purchasers extended their orders to
the less desirable grains-.namely,
barley and oats. Barley exports from
Atlantic and golf ports were about
1-2 million bushels in October, as
compared with less than million
bushels in September and little
more than I million bushels in Octo-
ber, 1923. Similarly, in the case of
oats, nearly million bushels were
exported in October from these ports,
as compared with l-2 million in
September, and only one-third of u
million bushels in October a year
ago. During the week ending No.
vember I, exports Of barley from At
lantic and gulf ports totaled 2,22S,-
900 bushels, volume more than five
times as large as the volume Of bar
ley exports in the same week last
year.
Stock Receipts
Receipts of livestock at terminals
during October were one-fourth low
er than last year for cattle, one
seventh lower for hogs and slightly
less for sheep. The movement Of
feeders, as compared with last year,
showed an improvement only for
hogs. This means that change of
sentiment has probably taken place
among hog raisers. Median prices
Of hogs, butcher steers and lambs at
South St. Paul advanced although
some decline is normally expected
for this season of the year. The
steady development of dairying is
shown by the greater receipts OF
calves than last year and by declines
in their median prices greater than
normal for this season.
irrespective building activity, as
reflected by building permits granted
in 18 important cities of this dis
trict, was greater in October this
year than a year ago. Improved bus
mess confidence is also apparently
indicated by the fact that larger pro-
jects are under way now than last
year. The housing situation in the
cities is satisfactory, although more
dwellings are for rent now than for
several years past. However, this is
not reaching such point of surplus
as to break values seriously nor to
retard new building. It is note
worthy that there was greater re-
duction in the offerings for rent in
October than is customary for this
season of the year.
Deposits Are Up
During the four weeks ending
l nn$ohnr % twou<v.fivo So1onfod