The Bismarck tribune. [volume] (Bismarck, N.D.) 1916-current, 1929-02-01
GOOD north DAKOTA
Business CONDITION.
Is seen BY CLEMENS
Bismarck Store Reports Sales
Are Is per Cent Greater
Than 1927 December
GRAIN PRICES IMPROVING

Farmers Are Still Holding
Crops on Renewal Loans
Fargo, N. D., Feb. 1.-!F)-Farmers
OF the state who are holding their
grain probably will not sell their hold
ings until March or April unless .
substantial increase In price Is record
ed. according to information gath
cred by P. w. Clemens, president Of
the Northern and Dakota Trust COM
pany.
Mr.. Clemens monthly review of
North Dakota business conditions.
written for the Associated Press and
its member newspapers. follows:
BY r. w. CLEMENS
Concrete evidence Of the good busi-
ness conditions which have been prev
alent In North Dakota for some time
Is contained in recent announcements
by many Of the large distributors Of
plans for much more intensified sales
efforts In the state during the CONF
ing year, these plans In most cases
involving division Of territories into
smaller units. This is particularly
true Of the distributors Of farm ma
chinery. tractors and automobiles.
Concerns that have been headquar-
tering in the Twin Cities are now
opening office in North Dakota to
handle the business here. and those
who have handled the business from
q single office In the state In many
cases are splitting up the territory
and establishing q number Of district
headquarters.
Penny Stores Lead
Outstanding in the reports received
this month from many commercial
organizations is that Of the j. G.
Penney company. showing that North
Dakota stores led the entire chain
located in ~ states Of the union In
increased sales for December over
those Of year ago. Each Of the -
stores in the state showed an increase,
and the total was 81 per cent. where
as the increase for the entire coun-
try for this conceu1n peCenaber WaD
Is per cent.
The A. w. Lucas department store
Of Bismarck reports sales IS per cent
ahead Of those Of year ago, and
Mann's department store Of Devils
Lake reports, Business Is CONSIDER
a. " better than year ago." These
reports are particularly strong when
the weather conditions that have pre-
vailed during January are taken into
consideration, including extremely
low temperatures and large amount
Of snow.
Wheat, flax and rye prices have i'm
proved somewhat during the month,
and in general the level is about 10
per cent higher than that Of the fall
months. Farmers have shown no no.
ticeable inclination, however, to ship
grain held over since threshing, and
the belief Is generally expressed BY
bankers and other observers that the
bulk Of the holdings will be kept until
March or April In the hope Of real
izing q price nearer to the levels Of
other years.
Farmers Hold Grain !.
Little Of the stored wheat has
loosened up as result Of the recent,
slight increase In price," says ]. L
Bell, e-president Of the First Ma
tional bank Of Bismarck. MANY
fermers are being carried over on
storage tickets or mortgages on grain
in granaries. In practically every
case where these notes were due the
first Of January, the farmers have ex-
pressed the wish to hold for q short
time longer and the loans have been
renewed for periods Of one to three
months"
'The recent raise In grain prices Is
causing no shipment Of grain from
this territory and the farmers are
holding until February or March be-
fore selling" says H 7. Graves, pres
ident Of the, James River National
bank Of Jamestown.
ident Of the First National bank, re-
ports few recent grain shipments. He
estimates that the holdings In that
territory represent only about 10 Or Is
per cent Of the crop.
J. @. Hoffert, president Of the Eos.
ter County State bank Of Carrington.
and Banding Fisher, president Of the
Ramsey County National hank Of
Devils Lake, also report very few re-
cent grain sales and . general opinion
that considerable increase IN price
win be needed TO bring out the stored
wheat Ia tho near future.
Stock ShlpmenfG Increased
Shipments Of livestock, produce and
grain from six stations on the MIL
waukee railway II Bowman county