The Bozeman courier. (Bozeman, Mont.) 1919-1954, 1925-02-18


By LYMAN E.. JONES
Secretary Great Falls Commercial
Club.
Montana launches into the new year
with a feeling of pride in the accom-
plishmert CT. its half million people
in practically writing off an immense
agrarian debt and piling up a suffi-
cient surplus to enable its agriculture
and business enterprises to 90 for
ward on a better footing than at any
period in the history of the state. It's
financial Comeback despite ram
pant reports to the contrary, has been
nearly complete.
Montana achieved great things in
1924. It was a tremendous achieve
ment in natural production. The per
capita production for 1924 was $500,
sc, or $7C.57 more than in 1923, the
highest in history, to that time. Per
haps the best measuring-stick to
judge the states leap from a hectic
, period of financing to one of stabil-
ity can best be seen in figures re-
Gently made public by R. o. Kauf-
man, vicd. president of the Union
Bank & Trust Co. Of Helena.
: In August, 1921, Mr.. Kaufman
pointed out, the Federal Reserve
banks loans had reached the peak,
$13,6O1 900. A short time later the
War Finance corporation had sent
$14,000,O0 into the state. Today the
Federal Reserve bank has less than
$4,000 outstanding in the state
while the War Finance Corporation
has $7,000,000, a reduction of mere
than $25, 100000 since the peak, much
: Of which was liquidated in 1924,
when big crops together with high
prices, helped to stabilize. conditions.
Banks Overlooking with Money
"The cry of help, more money! has
changed to a plea for help in employ
ing more money than the bankers
g know what to do WITH" says Mr..
Kaufman, whose assertions are borne
out by the leading bankers Of the
state.
The state treasurer and other gov
,v ernment agencies with money to loan
# are daily appealing to banks to ac-
= cept state and other funds for de-
post. The bankers, however, FIND
~ themselves in possession of more
money than they can readily dispose
of.
o. An analysis of the 1924 crop shows
the total value of agricultural pro.
ds ducts, not including livestock, wa:
no $143, 2O5, 900. Livestock Melted $64,
$4,000, while coal, oil and lumbel
% yielded an additional sum of $4,000,
:. 900. Available figures show tina
SOC, O00,O 900 pounds Of copper at 1;
cents or $4,000, 900 was produced
It's, 900 pounds of lead at sevel
NJ cents, SIP, 25O, 900; 100000 ounces o
6;s silver at IS cents, $780, 900, or
metals production total of SCI, COO ,OOC
= In round numbers and at a conserva
tive estimate the states natural re
sources yielded 1892, 717yOO0.
One outstanding fact must be rec
ognized in the results of the 1872
crop. In the great majority Of case
farmers were forced to put in the
crops with but little, if any, capita
Conditions in the spring of the yes
were such that the bankers had I
- money to loan. The farmers went
y work with capital such as they wei
ov- able to muster and a a result raise
a practically debt free crop.
Mi Big Oil Developments
In every branch of the states mar
~ Industries, leaders look forward to
mo prosperous year. The better tone
80 the copper markets lends encourag
o. ment to the mining companies. Farr
e;ra ers are preparing for another b
year. In fact, farmers have plant
Ia a larger winter wheat acreage tn
,sy- ever before. The lumber trade al
sos- milling industry looms as brisk.
axe Oil men are looking forward to
great development period in the Ke
in-Sunburst field Of Northern Nc
tana. The oil industry, one Of
states newest avenues Of wealth,
'sca rapidly coming into its ovs6. Rece
an developments in the Kevin-Sunbul
field tend 20 indicate that the prodI
lts6 ing horizon has emily basn anped
1915 the Cat Greek field Development we
ina is going on rapidly and Urinary 9
has lions Of The state rigs are aly /
uer ing up.
An interesting side lie he