The Bismarck tribune. [volume] (Bismarck, N.D.) 1916-current, 1925-06-29
MONEY VALUE
OF BUSINESS
SHOWS GAIN
Improvement in This DIS
trict Due to Higher
Farm Prices

Fargo, N. D., June 29.-N0-Ihc
money value of business transacted
in the Ninth federal reserve district
during May was II per cent greater
than year ago. and during the FIRST
three weeks in June it was II per
cent greater, the summary OF agri,,
cultural, indu strial and financial !
conditions in the district, made pub,
lie here today, shows. The physical
volume of business, as reflected by
car loadings in May was five per
cent greater than a year ago, the re- !
port says.
1.-THE improve was due I"
higher prices for grains, llVeS.och'
butter, eggs and potatoes; to larI
er volume of building contracted lo'
to heavier shipments OF ore, llhseco
products, grain, building materlalS'
agricultural implements and Vehlc'ts
and less than Car-lot merchandise: TO
a greater volume of futures trad'hs
in grains and to gains SHOWN by
VIII olesale trade, retail lumber sales
and copper output the report says.
As compared to month ago, how
ever. there was a "small seasonal
decline i'm the money value of busl-
ness transacted in May, but sea-
sonal increase in car loadings,' the
report continues. "The unseasonal
decline in money value was partly
due to high levels reached in April.
These receSSions are more than coun-
terbalanced in money value OF the
gains in grain receipts and prices
1ionr productIOn. retail LUMBER sales
and quadrupling Of iron ore ship
ments.
"Nine cities out of the eighteen
that report building permits to this
Office exhibited gains in the vaIua-
tion Of permits granted in May as
compared with last year, but the TO-
tai valuation for the eighteen cities
was five per cent below last year.
The extraordinary gains shown last
month as compared with year earl
Ter could hardly be expected to con
tinue in May.
"There was little change in bank
ing conditions during the month OF
May. Demand deposits increased ana
loans declined in small amounts az
the banks located in important cities
in this district. Their borrowing
from this Federal Reserve Bank were
reduced and their holdings Of re-
serves and securities increased our
ING the first two weeks Of June, how
T..
gains in demand deposits and equiv
alent increases in loans. Durlni
the month of May, there was sub
stantial increase in. the quantity o
securities purchased by banks a
compared with April purchases AM
some decline in the amount OF com
r,erc'al paper outstanding in TIL
district" :. :,
IN various t.topical reviews tn
report continues, in part, as follows
'.Check payments made throug
banks in important cities in TN
. district continued in record volum
during May, but were apparently re
cedinp from the levels of earle
months. These debts to individu;
accounts at banks in seventeen clue
of this district were II per Ger
greater in May than in the san
month year ago. In April the'
- hnnn p 81 ner cent Increase owe
the same month year ago. Debl
teon c'+'os ~ Ma
1925, amounted to $771 100000
COMPARED w4.n aoo7,1.o,voo IN Ma
1924. In all cities of the district. e
cnr+ one. increases were reglsler'
in May over last year.
'Larioadlngs in May reached
total Of 65l 1873 cars. which was u
second largest total in any M
since our record began IN l9l9. ~
MAY, 1923, carloadings were larg
avid totaled 666.S77 cars. The i
crease in carloadings as compar
with Nav last year was due to larg
loadings of ore, merchandise IN les
than-carload lots, miscellaneous col
modities and coke.
"Flour production in the northwe
during May was five per cent larg
than the April volume. but 10 p
cent smaller than the volume in M
Flour shipments from Minneapo
were 81 per cent smaller than IN NJ
last wear, and decreased 2 per ce
between April and May which
precisely the usual seasonal red'
ton. The May volume of flour sh
r,ents this year was smaller thah
Nav of any other year in our r.
ords. which begin in 1910. and
smallest volume of any month slr
July. 1917.
"Shipments of important commo
ties into the Northwest trade ter
torv as reported by the Minneapco
Traffic Association showed more Ut
seasonal reductions in May from
April volume, but shipments OF Dui
ing materials and agricultural imT
ments and vehicles. other than
tomobiles, and trucks, were ship
in much larger volume than in n
last year. Agricultural impleme
and vehicle shipments amounted
1913 cars in May as compared "
26a cars in April and 104 cars
Nav last year. Shipments of rer
sentatives building materials tote
sO4 ears in May as compared v
800 cars in April and 300 cars
Nav last year. Automobile. tr
and tire shipments, totaling I
cars in April, were the second !;
est monthly total of shipments f
Minneanolis in the history Of the
J,,e<rx,"