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Building and Loan Associations to Drive for 60,Q00,000 Member^.
HOME BUILDERS ARE RECOVERING FROM FALL DEPRESSION Annual Meeting of League at Grand Rapids Shows As- sets of $8,695,154,220 12,000,000 NOW ON ROLLS Dtinand by Borrowers Increas ing; Residence Contracts Still Below Normal Building and loan associations, im portant factors in the home financ ing field in spite of the business de pression of last year, increased their assets by nearly $7,000,000.00, and as this amount represents the sav ings of individuals this is a good omen-for the country, said H. K Cellarius, secretary-treasurer of the U. S. Building and Loan league at this week’s annual meeting at Grand Rapids, Michigan. Making his yearly report before the 38th annual convention, Mr. Cellarius described the growth of this business during a “bad year and said it was significant that all building and loan associations were able to pay the heavy withdrawals that folowed the stock market crash of last fall. Association members that num ber more than 12,000,000 people with savings o£ more than $8,500,000,000 invest these funds in building and loan associations who re-lend these large sums exclusively for home buy ing purposes. The associations are under state supervision in most states. $700,000,000 Saved, 1929 “The building and loan associa tions will make a drive to increase their membership to 60,000,000 peo ple in as short a time as possible, and if this plan is successful, the savings of these people will reduce home costs in this country,” said Ernest A. Hale, Boston, president of the league. Although he reported a lessened demand for mortgage money for the second quarter of 1930, the league treasurer stated that business was gradually “picking up” throughout the country, and referred with pride to the $700,000,000 the public was able to lay by in 1929. Thus, he figures that the average amount held by building and loan members increased $49.71 last y ear and that $717.94 is the average amount held by each of the 12,000,- 000 members which doesn’t sound jxactly like hard times. Recovering From Stock Riot. “To us this means that everything hd not vanish last fall,” said, Mr. Cellarius. “People who had with drawn their savings from local as sociations have re-established their accounts. New accounts have been opened. We have assets today of $8,695,154,220, an increase of $679,- 119,893.00 or a growth of nearly eight and one-half per cent in the bad year of 1929. “During the last half of 1929 a speculative mania ran riot among all classes of people. It culminated in one of the greatest slumps in stock prices ever witnessed by our people. A large volume of savings of our people was withdrawn from building and loan associations and other financial institutions > and poured into the stock market, it is needless to recall with what disas trous results. “About the middle of December, however, there was a notable change in conditions. The withdrawal de mand decreased considerably, moneys began to flow back into the associa tions in better volume. In the first quarter of 1930 there continued a gradual but steady improvement; associations which had borrowed from banks to meet the withdrawal demands of shareholders began to liquidate their indebtedness and many resumed the making of mort gage loans. In the second quarter of the present year the association did a fair volume of business under more established conditions. Where Loans Lead “California, for the first half of the year, reports an improved de mand for loans over last year. Ohio, Wisconsin, Minnesota, ex cept in the northern part, Idaho, lowa, District of Columbia and most of the states in the eastern sections report improved receipts with less J w DISTRIBUTED BT GRIGGS, COOPER ft CO. FARGO MERC. CO. This is the design by Architect Ira L. Rush, on which the contract for the new courthouse has been awarded* Redlinger and Hansen, Wahpeton, by the board of Burleigh county commissioners. The face will be entirely of Bedford limestone froin Indiana It and the new jail will cost, outside of fittings and interior installations, $197,900. It is to be finished by May 1, next. Supervision of construction for the county will be exercised by Nicholas Freeburg, local building contractor, who has been appointed to that position by the county commis- withdrawals and an adequate sup ply of funds for all purposes.” Here the league secretary-treas urer suggested that these institu tions be required in the future to create reserve organisations or create other ample reserves to meet periods such as the one last fall and stated that New Jersey had recent ly passed an act which will require building and loan associations in that state to invest a certain sum annual ly as a liquid reserve to meet such emergencies. Building 14 Per Cent Off Touching on all types of construc tion being undertaken throughout the United States, the speaker stated that contracts for residence con struction awarded in 36 states in the first three months of 1930 were down 48 per cent as compared with 1929. Total contracts awarded for all classes of construction for the first quarter of 1930 fell off only about 14 per cent and for the first half of 1930 residence constructions continued nearly 50 per cent less than the amount shown for the cor responding period of last year but contracts for all classes of construc tion improved somewhat during the second quarter so that for the first half of the year all construction was off only twelve and one-half per cent over 1929. In giving detailed figures on gains in assets by states, Mr. Cellarius said New Jersey showed the great est gain, having added $119,074,- 037.00 during 1929. Pennsylvania made a gain of $59,943,656.00 and Ohio $46,145,259.00. Other states making gains in assets of $10,000,- 000 or more for the year were Wis consin $31,162,283.00; Illinois $28,- 495,532.00; Massachusetts $27,516,- 610; Texas $23,981,516.00; New York $20,680,594.00; Missouri $19,224,- 363.00; Michigan $18,466,603.00; In diana $14,047,877.00 and Kentucky $13,367,294.00. 20 Associations in State The statistical table shows, by states, the number of associations, the total membership and total as sets. The data given are for the fiscal year of the respective state supervisory departments ending in 1929. The figures for North Dakota show 20 associations; 19,600 mem bers; $10,952,539 assetss, an increase of $482,920. The membership in crease was 600. A white whale, declared to be rare among the denizens of the sea, was sighted off the Newfoundland banks recently by a coast guard cutter. 205th “DAKOTAN” TO STANDARD OIL Standard Oil Co. has employed three more graduates of Dakota Business College, Fargo, bringing the number up to 205. The latest recruits are: Cornelia Van Eyk and Mary Harbeke, Minot Branch, and P. W. Smylie, Fargo office. Big corporations haven't time for amateurs. They prefer “Dako tans", who, with their ACTUAL BUSINESS training (copyrighted —at D.B.C. only), begin work with experience. * “Follow the £ucces£ful.” En roll ahead of the crowd. Aug. 4th Class saves*time. Write F. L. Wat kins, Pres., 806 Front St., Farg'- Design of New Burleigh County Courthouse | NORTH DAKOTA LAMB CROP IS BELOW 1929 For United States There Has Been Increase of 8 Percent Over Last Year The North Dakota lamb crop for 1930 is estimated to be 466,000 head compared with 480.000 in 1929 and 371,000 in 1928, according to the July report of the Department of Agricul ture. The number of breeding ewes had increased from 459,000 head in 1929 to 474,000 this year, but a small er number of lambs saved per 100 head this year as compared with last, more than offset the increase in breeding ewes. The number of sheep in North Dakota shows a steady In crease since 1922. when the estimate was 203,000 head. On January 1, 1930, it was estimated that 645,000 head were on farms of the state. The 1930 lamb crop of the United States was about 2,000,000 head or 8 per cent larger than the lamb crops of 1928 and 1929 according to the re port issued by the Department of Agriculture. The indicated lamb crops of the three years are: 26,363,- 000 for 1928, 26,441,000 for 1929 and 28,458,000 for 1930. The number of lambs saved per 100 ewes one year old or over on January 1 was 89.1 in 1928, 83.9 In 1929 and 87.3 In 1930. Com pared to 1929 the larger lamb crop this year was due both to an Increas ed number of breeding ewes and a larger number of lambs saved per 100 ewes. Compared to 1928 the increase was due to the increased number of breeding ewes since the number of lambs saved per 100 ewes was smaller In 1930 than in 1928. Both the native and western lamb crops were larger this year than last. The crop in the native sheep states Join the millions whoprefer this pleasant and normal way of guarding Sffl™ post’s |£fk| BRAN FLAKES jp WITH OTHER PARTS OF WHEAT A Product of General Poods Corporation e use o r cm%. * I • •-v v -••• . sjjjSft- x : ‘ . vx x x ; x--Xv A ;; '-J&yfflftifc''''?'.. : :-:>X '.rvX; sioners against constipation. > Isn’t it good to know that you can eat this effective regulator, \ Post’s Bran Flakes, morning after morning with relish? And all the time you are enjoying its delidous-tasting flakes, you can trust their tender, flaky bulk to help keep your system dear. For this bran cereal, with other nourishing parts of wheat, is gtntle, natural, normal in action! For the next two weeks eat Post's Bran Flakes regularly. And vary the menu by making delidous Post’s Bran Muffins. Find tftit what millions have already discovered—that the bran cereal you relish is the one that benefits you! THE BISMARCK TRIBUNE. FRIDAY, AUGUST 1, 1930 was about 4 per-cent or 400,000 head larger than in 1929 and 8 per cent larger than in 1928. The increase this year was due both to increased num bers of breeding ewes and a larger number of lambs saved per 100 ewes. The native lamb crop was 8,930,000 in 1928, 9,326,000 in 1929 and 9,734,000 in 1930. The western lamb crop of 1930 was 9.5 per cent or about 1,600,000 head larger than that of 1929 but only about 7 per cent larger than the crop of 1928. The largest increases this year overcast were in the late lamb ing areas in most of which the late crop ih 1929 was reduced by very un favorable weather during and after lambing. All of the states except Texas had larger crops this year than last. In Texas unfavorable weather and food conditions resulted in a de crease from 77 to 62 in the number of lambs saved per 100 ewes, which more than offset a 12 per cent increase In brooding ewes. The lamb crop in the 13 western lamb states was 17,433,000 in. 1928, 17,115,000 in 1929 and 18,724,- 000 in 1930. About $25,000,000 was lost by citi zens of New York to bucket shop operators and dealers in fraudulent securities in the first five months of this year. "/jjPfcl We offer intensive courses in Busi- | ness. Accounting, Secretarial, Office IOH Training and Banking that will fit yob * S °° d P ° sition iu a short 7 JULY WHEAT STOCKS HIGHEST THIS YEAR Interior Mill and Elevator Hold ings Swell Total; Less in Farm Storage Stocks of wheat of the 1929 crop in interior mills and elevators on July 1 are estimated at 54,031,000 bushels by the crop reporting board of the United States department of agriculture. On July 1, 1929, stocks are estimated to have been 41,546,000 bushels, and on July 1, 1928. 19,277,000 bushels. The five-year average (1924-1929) stocks on July 1 is 26,493,000 bushels. The re port is intended to include only coun try elevators and the smaller interior mills which are not included either in the department’s reports on stocks of wheat in 39 markets or in the bureau of the census report on stocks of wheat in merchant mills and attached elevators. The estimates are based upon reports received from about 3,300 mills and elevators, representing roughly a sixth to a fifth of the ele vator capacity in wheat producing and country milling regions. Stocks of wheat in interior mills and elevators are estimated as follows: North Dakota. 12,800,000 bushels; last year, 9,140,000; five-year average, 4,428,000. Minnesota, 1.950,000 bushels; last year, 1,700,000; five-year. 1,507,000. South Dakota, 1,950,000; last year, 1,575,000; five-year, 1,507,000. Montana, 5,450,000; last year, 4,930,- 000; five-year, 2,236,000. Estimates of wheat on farms are: North Dakota, B,4o6,ooo>bushels; last year, 9,480,000. Montana, 2,807,000; last year, 5,405,- 000. Total in interior mills and elevators, United States, 54,031,000; last year, 41.546,000; five-year average, 26,493,- 000. On farms, 46,834,000; last year, 45,483.000; five-year average, 26,- 454,000. CULL; BARKEN, BRADY and JANZ Certified Public Accountants INCOME TAX SPECIALISTS Dahl Bldg.' Bismarck Phone 359 Cases of recurrent constipation, due to insufficient bulk in the diet, should yield to Post’s Bran Flakes With Other Parts of Wheat. If your case is abnor* mal, consult a competent physician at once and follow his advice. Farm Board Positions Open to Examination The United States Civil Service commission has announed that a spe cial examination will be given for positions in the economic division of the federal 'farm board, at salaries ranging from $2,000 to $5,600 a year. Applications must be filed with the United States Civil Service commis sion at Washington not later than August 26. Copies of the commis sion’s announcement and application forms may be obtained by applying to the United States Civil Service com mission, Washington, or to the dis trict secretaries of the Civil Service commission in the larger cities where branch offices are located. » ■ - <. Farm Facts I North Dakota has doubled her wool production in the past five years, ac cording to H. E. Seielstad, extension marketing specialist. Under the new tariff rate passed last June, the tariff on wool used for clothing purposes was advanced from SCIATICA? Here is a never-failing form of relief from i sciatic pain: Take Bayer Aspirin tablets and avoid needless suffering from sciatica —lum- bago—and similar excruciating pains. They do relieve; they don’t do any harm. Just make sure it is genuine. BAYER ASPIRIN gMggV QH CIENCE, more than 30 years ago, |SIM 31 cents to 34 cents per pound of clean content. The rate per pound of im ported wool rags was raised from Hit to 18 cents per pound. The weight of the weed seeds and other foreign material that can read ily be separated'from wheat, flaxseed and rye is referred to as dockage. Elimination of weeds can prevent dockage losses. Grain which is to be directly com bined must stand for several days after the crop 13 “ripe” hi order to have It in condition for safe storage. Apples are nutritious and whole some and are a beneficial food be cause they tend to promote vigorous digestion. There are some other types of silos that do better part of the time, and there are some other types that are Hml iJySJIi/jjE® better under some conditions all of the time, but it Is safe to venture that there is no type that is better under all kinds of conditions, all of the time, than the trench silo. Comparing com silage to com fod der, Agricultural college dairymen found that the cows on trial produced 4 per cent more butterfat when, fed silage than when fed fodder. Heifers should freshen at about 24 ( years of age, depending on their size and vigor and the time of year when freshening is desired. SCALDED TO DEATH That'S really what happens to fine silks and fluffy woolens when you wash them in hot water. But, you say, you can’t get them com* pletely clean any other way; That’s where White King Gran* ulated Soap comes in. White King is a vegetable and nut oil soap. No coarse animal fats are in its make-up. The re sult is quick, rich suds, thorough cleansing, arai swift rinsing in lukewarm water. Wash your fine ( ' things with White King in luke warm water, and spare their delicate lives. Your hands will bless you for it too: White King is economical; One teaspoonful in a basin of water, one cupful in the wash - tub—that’s all you’ll need. Try it today. Sold by grocers everywhere. ii'