The Bismarck tribune. [volume] (Bismarck, N.D.) 1916-current, 1930-09-27
FARMERS SHARING
ECONOMIC RECOVERY
BANK REPORT SAYS
Wheat Marketings Shown More
Rapid Than Year Ago; 80
per Cent Of Crop In
HOG OUTLOOK IS HOPEFUL
Swine Producers Advised to In
crease Breeding if They
Have Required Feed

crease Breeding if They
Have Required Feed
The volume of business done IN
the ninth federal reserve district
during August and the first hall OF
September was an encouraging sign.
according to the district reserve bank
statement covering the months, just
issued from Minneapolis. While the
volume did not equal the better-than-
normal total of last August, 1t showed
recovery from the extremely low level
of July, according to the reserve re-
port-July depression being due to
hesitancy Of business until drouth
conditions and effects could be DELI
nitely gagged.
The daily average of bank debts
was % per cent smaller in August
than in the corresponding month q
wear ago, but rose above the 1928
level for the first time since April.
The index of bank debts. adjusted to
remove seasonal variations, rose from
SO in July to Ill In August. but was
materially lower than the index for
August 1929, which was the peak for
the postwar period. The adjusted
country check clearings index also
increased from "a in July to 50 IN
August. but was lower than the index
for August last year.
The bank report says, further that
the majority of the business lines for
which monthly records are available
experienced smaller volumes in Aug
ust than in the same month last year.
Decreases occurred In freight carload
ings. building permits and contracts,
flour and linseed product shipments,
wholesale trade, department store
sales, furniture sales, country lum-
Der sales, life insurance and securities
sales, postal receipts and copper and
iron ore output. Electric power con-
sumption In the eastern part Of the
district increased in the latest month,
as compared with the same month
last year. The employment situation
at Minneapolis became less satisfac.
tory during August. Business fail
ures were more numerous than in
August 1929.
During the first half of September,
the general indexes reveal that the
volume of business continued to be
smaller than last year. Bank debts
at II cities were "a per cent smaller
in the three weeks ending September
II than in the corresponding weeks
last year. Country check clearings
for the first fourteen business days Of
September were % per cent smaller
than a year ago. On the other hand,
construction contracts awarded In the
central Northwest when reduced to
uaily averages were twice as large In
the first part Of September as In
September last year, according to the
report of the F. w. Dodge Corpora
ton.
District Summary Of Agriculture
Unexpectedly favorable threshine
returns. and some rains and cooler
weather caused a moderate increase
In the forecasts Of crop production in
the Northwest during the month OF
August. On September !, the gov
eminent figures indicated that the
crops Of bread spring wheat. rye, flax
oats and barley would be larger thar
q year ago, but that the crops Of win.
ter wheat, durum wheat, corn and po.
tatoes would be smaller than a yeal
ago. The aggregate crop production
Is less than average.
Wheat m~arketings have been ever
more rapid this fall than q year ag'
when q new record was made for earl.
marketiugs of the grain crops. Aft
er beginning the marketing perio,
with q smaller volume of wheat re
ceipts than a year ago. the volume o
receipts at terminal markets advance,
rapidly, and during the five week
ending September IL exceeded tn
volume Of marketings q year age
The result has been that 30 per cen
Of the 1890 wheat crop and carry
over available for marketing ha
reached the terminal markets up {
September IL, whereas a year az
only ~ per cent Of the marketabl
supply had been received up to tn
same date.
Reports received by the Northwea
Shippers Advisory board from 2,A6
Of the 1000 country elevators IN Min
nesota. North Dakota, South Dakot
and Montana covering conditions o.
September ! indicate that there va
no general congestion at country ele
vators on that date. The reportin
elevators averaged less than 60 pc
cent filled, whereas they only re
quire 20 per cent Of working space 70
the proper handling Of grain. Th1
satisfactory elevator condition exist
ed in all four Of the states.
The butter situation improved mod
erately during August, continuing tn
trend which began in July. Col
storage stocks Of butter in the Unite
States amounted to 143, O00, 900 pound
on September l, which total was 26,
100000 pounds less than stocks a yea
ago and 100000 pounds less tina,
the five-year average for that dat,
This is a complete change In tn
situation because for approximate
one-year stocks Of butter have bee
much larger than average.
Furthermore, butter stocks decreas
ed 2.000,0 600 pounds during the mont
Of August, whereas they usually in
crease by l6,00O,O00 pounds durtn
that month. The effect Of this chang
In the butter supply situation was {
raise the price Of butter 5h cent
during August to an average Of 8
cents per pound, whereas the averaa
seasonal increase In August is only
cent per pound. The average pric
Of butter wal ~ cents lower In Aug
ust than the price . year ago.
The ninth federal reserve distris
apparently Is IN q position to gal
more from the rise In butter price