The Bismarck tribune. [volume] (Bismarck, N.D.) 1916-current, 1934-08-17
VOLUME
FOR JULY SLUMPS
BELOW JUNELEVEL
Ninth Federal Raesrvs District
Summary Notes Decrease
for Month

The volume OF business IN the NIutn
Federal Reserve district declined In
July from the level Of June, according
to q summary Of agricultural and
business conditions by the Federal
Reserve Bank Of Minneapolis, released
Thursday.
City department store sales showed
the sharpest decrease, the report
states. adding that the condition was
doubtless due in part to the Mime
apolis truck drivers strike.
The adjusted index Of miscellaneous
freight carloadings declined from 6
in June to 81 In July. Country check
and Lei. freight carloadings
showed minor decreases. The index
OF bank debts for the two months was
the same.
The summary continues:
Business records for July did not
make as favorable comparison with
the figures for the corresponding
month last year as had been made by
the records Of earlier months. How.
ever, It must be recalled that July last
year was the peak Of the sharp busi-
ness recovery Of that summer. The
daily average Of bank debts was Is
per cent lower in July than In the
same month last year. Country check
clearings were IL per cent higher In
July than year ago. and freight car
excluding Lei. freight. were
8 per cent larger than q year ago. The
increase in freight carloadings was
principally due to continued larger
volume Of iron ore movement and TO
q heavy movement Of livestock as .
result Of the government cattle buying
activities. Miscellaneous freight car
loadings were slightly larger than In
July last year and all other classes Of
freight were moved in smaller volume
than q year ago. Other increases over
last years figures occurred In electric
power consumption In the eastern
part Of the district, In building con-
tracts and In real estate activity In
Hennepin and Ramsey counties. De-
clines from last years volume &C.
CURED In electric power consumption
In Montana and In building permits,
flour shipments, linseed products
shipments, butter production, grain
marketings and hog marketings.
Retail trade was somewhat larger In
July than in the same month last
year. both in the cities and In the
rural sections Of the district. City
store sales were less than
l per cent higher than q year ago.
Two hundred and ninety mine coun-
try stores reported an increase OF 6
per cent In their volume Of sales over
the volume In July last year. The
greatest percentage increases over last
year occurred In the iron mining and
summer resort regions. in the eastern
mixed farming areas. in the Red River
Valley and western Montana. De-
creases occurred In eastern Montana
and In North Dakota.
Farm income In the district from
marketings Of six important products
during July was - per cent smaller
than In July last year. A large part
of the decrease was due to the lower
level OF grain marketing, which made
an unfavorable comparison with the
abnormally large receipts In July last
year. The reduced volume Of dairy
output and the smaller receipts Of
hegs at markets were also important
factors In the shinkage Of farm in
come. Prices Of the majority OF
northwestern farm products were
higher in July than q year ago. from
June to July there was sharp rise In
grain prices, which brought the price
Of bread wheat to the highest level
since the spring Of 1880, and the price
Of durum wheat to the highest level
since 1929. The price Of lambs
dropped sharply.
Estimated value Of important farm
products marketed In North Dakota