The Wolf Point herald. (Wolf Point, Mont.) 1913-1940, 1929-05-31

Ladies and Gentlemen:
1t is my pleasure to submit here
with a report on the financial an(
agricultural conditions and activi
ties in Roosevelt County, Montana
To begin with our banking insti
buttons, being six in number, con
tinue to maintain a good healthy
financial condition. The following
aggregate amounts are as of Dec
ember 81, 1928:
Loans and Discounts. 81 ,555. 8 .00
being an increase of s246,000
Or 1870 over Dec. 81, 1927.
Bonds, Warrants, Sec. 81, las, 600. 90
being an increase of s112,500
or 11% over Dec. 81. 1927.
Cash. due from banks-s452, 1927. 90
being a decrease of s171,779
or go under Dec. 81, 1927.
Deposits 1884, 100
being an increase Of S190,838
or 10 over Dec. 81, 1927.
The increase of S246, 900. 90 in
our loans and discounts was large
ly due to the unfavorable market
conditions at the close of the old
year and the expectation of re-
ceiving a better price in the early
part of the new year which result
ed in the farmer delaying the sell
ing of his wheat thereby delaying
the liquidation of his loans. 1t
is noted that cash reserve and as
sets of a secondary reserve ma
ture represent about fifty-four per
cent of the deposits.
Debt Being Reduced
Our county continues to show a
gradual improvement in it's fin
ancial standing by reduction of its
indebtedness. The county debt on
June 80, 1928, the end of its fiscal
year was as follows:
Warrant MISUNDERSTANDING.
Bond Indebtedness. 1852, 10000
Total indebtedness 897,667.33
On April 80, 1929, ten months
later, the debt stood as fol-
lows:
Warrant MISUNDERSTANDING. IS
Bond Indebtedness. TAI, 900. 90
Total Indebtedness 500, 1866
This shows an increase in war
rant Indebtedness of S14, 900. 90 but
a decrease in bond Indebtedness
of S21, 100000 making a net de-
crease in total Indebtedness of
$1,000. 90. The county will show
a further reduction in its indebt-
edness before the close of the pre-
sent fiscal year when the second
half of the 1928 taxes now in the
process of collection are taken in
account. 1t might also be stated
that the county has SIT, 574.S4 of
its sinking funds invested in its
own bonds and warrants.
Newly Patented Lands
Newly patented land in the
county between March 1928 and
March 1929 totals 35,069 acres
which carried an assessed valua-
ton of s332,433.O0. There was O.
305 acres of state land sold in the
county between March 1928 and
March 1929 on which the down
payment was s3,751.00 which will
be the 1929 basis for taxation on
such state land, state land being
occoccnd nnJ,- ~ w. u n carsc ~
terest. These two items will add
S~336.1S4.00 to the county assess
ment roll from new land. The
land newly patented is principally
land owned by homesteaders To-
Gated in that section of the county
which is on the Fort Peck Indian
Reservation and on which the far
mers have paid up the balance of
the government lien thereby max
ing such land subject to taxation.
Grain Statistics
The spring wheat acreage in
Roosevelt county during the year
1928 was $4,000 acres with an
average yield of nineteen bushels
per acre which netted $685. 900 bu-
shells. This was an increase of
seven per cent in acreage and of {
twenty per cent in production over {
the previous year Roosevelt coun-
ty ranked ninth in the state in 4
production of spring wheat in
1927 and fifth in 1928. 1t is esti- 1
mated that the 1929 spring wheat
acreage is fifteen per cent great 8
or than last year.
Corn acreage in the county in
he year 1928 was IA, 900 acres and :
IN average yield per acre of nine :
cen bushels. netting a production |
IF 266, 600 bushels. This was a de-
,rease of seventeen per cent in
acreage and twenty-eight per cent
production under the previous
year. Roosevelt county ranked
fifth in the state in the production
If corn in 1927 and fourth in 1928. l.
t is estimated that the corn acre
lge in 1929 in the county will be
bout the same as in 1928.
The acreage of oats in the coun-
v in 1928 was $4,000 acres with an
.verage yield of thirty-seven bu-
heels per acre which netted a pro-
Iuction of $4,000 bushels. This
a decrease of eight per cen
acreage and six per cen in pro-