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If I {If, \. MI rfr ffc £jV 8 t*i», *,|'» a&Vtf'*" IMPROVEMENT IN N. W. FINANCES IS REPORT] Federal Reserve Report Issued Shows Decline In Shipments. Increase in Number of Build ing Permits Promising. IS Minneapolis, Minn.. monthly report of the serve aprent In the ninth district con tains the following information: Financial conditions in the north west improved considerably in De| cember and the early part of January. Interest rates at the Federal Reserve bank and other central banks de clined because many loans were paid off in the larger cities. in the estimate that a larger •acreage tions projected as shown in permits hank. Wh'le demand deposits Wn there banks dropped $4 1-4 millions, there a rise in time deposits of tS 1-2 millions and in government de posits of S3 1-2 millions, making a net ris-p in depositrs of all classes of 54 3-4 miTions. At .the same time savinps deposits in the nine savings ba.nks Minneapolis and St. Paul rose--nearly 2 per cent. elvet IHvLEn Bridgcman-Russp.ll Co. The Ninth Federal Reserve Bank experienced a seasonal decline in Its I total loans to member banks of $,1S 1-2. millions in the five weeks ending January fourth and $6 mil lions in the succeeding two weeks. Of 1 this total decrease of over $18 mil lions, the Twin City banks were re sponsible for $14 millions. Reduc {tion of' borrowings by country banks continued at a very moderate rate. Federal Reserve notes of the Min neapolis Federal Reserve bank out standing reflected the customary Christmas increase in buyinsr with the conaeouently larger demand for pocket money. The amount of notes outstanding was $1 1 -4 millions more on January 4th than on November 30th. but owing to the elastic nature of this currency, by January 18th the amount outstanding had declined $2 1-2 millions from the figure of January 4th. Interest and IHsoonnt Rates. Interest and discount rates declined during the month ending January 15th. The discount rate for the Min neapolta Federal Reserve bank was reduced on January 11th from 5 1-2 Feb» 1.—The to 5 per cent on all classes of paper. Federal Re- Commercial bank rates also weakened somewhat during the month. De clines occurred in the customary rate on prime 30-60-90 day commercial paper discounted for customers from 8 1-2 to 6 per cent, and op prime commercial paper purchased in the open market from 5 3-4 to 5 1-2 per cent. The customary rate on bankers' racceptances with endorsement in creased from 4 5-8 to 6 per cent and The December movement of grain and live stock to market was reduced rates on commodity paper secured by to totals below normal for the'month. warehouse receipts increased from 6 although receipts of corn, coats and '*2 to 7 per'cent. calves increased. Greater stability Retail Trade. was shown in the prices of grain and j- »'j Hvc stock at wholesale. Tho volume ot' businesn and manu facturing registered a substantial de cline, as indicated by flour production, shipments of lumber manufacturers, sales of lumber retailers and increas ed unemployment of labor, and linseed production rose Individual debits which reflect gen eral conditions fell two per cent. Business failures continued at the for mer levels. Promise for the future is indicated 83 Buying in the agricultural sections, was at a low ebti although city sales increase in sales during Decern ber over the November figure owing appear to have improved noticeably. Wholesale sales of agricultural imple ments in 1921 were but one-third ot' the 3 920 totals. December sales at the retail stores in the larger cities "Jthibitcd a greater increase over No vember than between these months last year. rs reJ^tP? by and two-thirds of 1920 for hard- was sown to winter wheat in the ware and drv goods, the outstanding Falls, an increase of 30 per cent and northwest than last year, whereas for notes and accounts receivable of these t.hft whole United States there has firms at the end of 1921 were only 18, I Uuilding continues to be on a larger been a. decline., Also building opera- 17, and 3 per cent below a vear f,r the agricultural implement, hard- granted in nine important cities were ware, and dry goods groups respec- vear was nearly 48 per cent more half again as large as a year ago in tively. than a year ago. and the valuation the same month, and stocks of retail- T~rli,. showed arise of 64 per cent. Of the ers and wholesalers of lumber were) races. total building in December. 1921, 92 much lower than, a year ago. Prices for the chief .agricultural per cent was for new construction and General Survey. during December. Median livo stock The financial situation in the north- 1 prices at South St. Paul increased in I Stock Movement. west, during December was character- four instances, and there were no de-i The movement of live stock at ized by substantial reductions in loans 1 clines. The price per cwt. for lambs South St. Paul exhibited its custorn at the larger city banks. The custom- 'was up $1.50 over November, veal ary dccline in December from the No f.rs of thirty-five of the larger mem- 1 calves increased 50 cents. md butch-vember volume. Receipts of Ml classes her banks reduced their borrowings 1 Cost of Uring. The cost of living in the Ninth Fed eral Reserve district declined 1 per cent between December 1 and Janu ary 1. and the January 1 figure was 12 per cent below the figure for a year ago when the compilation of flg ures was begun. Minneapolis and St. Paul showed declines of less than 1 per cent in the cost of living during December but were down 15 and 9 per cent respectively from a year ago. Building Permits. Building permits granted in nine Satisfies the sweet tooth and aids appetite and digestion. Cleanses mouth and teeth. A great boon to smokers, relieving hot, dry mouth. Combines pleasure and benefit* Don't miss the joy of the new VHHGLEY'S Mt-the sugar coated peppermint tid bit! L'JIi wiiir.i f.y 7 I IT •-.'V *clect: to the Christmas rush of purchases. For the same reason the rate of turn over during December improved ma terially while stocks at the end of De cember were down 13 per cent from the (figure for a month ago. The dol lar amount of sales during 1921 was 16 per cent below the total for tho year 1920v Wholesale Trade. Wholesale trade continued to de cline in the case of hardware and case of agricultural implement deal TOURS AMERICA TO HELP FRENCH Anne Morgan. Miss Anne Morgan, daughter of the late J. Pierpont Morgan Sr., is now touring the United States lecturing in behalf of the American committee for devastated France. She founded the organiza'tion and has won tike I gratitude Of the French republic. 1 Copper agricultural implement firms, but Reserve district showed a 40 per cent slightly, there was a- 7 per cent increase in r'se wholesaJc dry goods sales between cline in number h«-_ween November November and December. While the in valuation, but a 37 per cent de- and volume of sales during 1921 was only elines in the number'of permits is one-third of the 1920 volume in the sued. December. All cities showed de- /bnt over st- ago of I edicts of this district moved up only S per cent for repairs. er steers and stockers and feeders of live stock were lower in December $14 millions and enabled these banks were up 25 cents each. Median grain than in November. While there was to pay $1 1-2 millions of resdiscounts' prices at Minneapolis showed four in-| an increase in tho "number of hogs at ths Minneapolis Federal Reserve creases and two declines. Flax was shipped from South St. Paul, all other up 8 1-2 cents, rye 7 cents, wheat 3 1-2 cents, and oats 11-4 cents while corn declined 1 1-2 cents and barley 1 cent. Tho best grade of flour sold at $7.25 per barrel on January 15th, showing an increase of 25 cents over the middle of November. Wholesale produce prices at Minneapolis is strengthened during the month of December. The whole vegetable roup, with the exception ot potatoes .nd dried peas and beans, moved up, and there were, increases in the price 'of Wns^and veal. Jn contrast with this general rise was the decline of tlif best creamery butter from 42 cf-nts to 37 cents and of No. 1 eggs from 52 cents to 38 cents. November of 96 per cent Sioux Paul, an increase of 18 per cent, scale than a year ago. The number permits granted in December this shipments declined. December re ceipts of calves and shipments of hogs and calves were at. a higher level this year than last, while other receipts and shipments showed declines. Ship ments of feeders showed pronounced declines in the case of cattle and sheep, and moderate declines for calves and hogs between November and December. As compared with a year ago. December shipments of feeder cattle and calves showed in creases of 14 and 31 per cent respec tively. although shipments of hogs and sheep. for feeding purposes were down. 1 Grain Receipts. Grain receipts at Minneapolis and Duluth declined only 3 per cent be tween November and December, ow ing to the abnormally severe slump in receipts during November. The movement of corn normally reaches a peak in December, and 1921 December receipts reached a total of 3,400,000 bushels, representing an in crease iof 173 per cent over the re ceipts for November. Corn receipts in December were 74 per cent larger than durine December a year ago, and the receipts of oats were also larger this year than last but re ceipts of other grains declined, caus ing the total grain receipts at Minne apolis and Duluth to show a 17 per cent decline this year from a year ago. Grain receipts at Minneapolis were 11 per cent larger in December than in November and shipments showed an increase of 13 per cent. Corn re ceipts at Minneapolis doubled and shipments trebled between the two mpnths. Duluth grain receipts and' shipments showed pronounced de clines, owing to the closing of navi gation at the head of the lakes. In spite of this adverse factor, corn re ceipts at Duluth In December were four times as large as in November and receipts of oats increased more than one-half. Winter Wheat.. The acreage sown to winter wheat in the Ninth Federal Reserve district during the fall of 1921 totaled 494, 000 acres. Thi3 is a somewhat largpr figure than the 1920 fall sowing, the increases occurring in South Dakota and Minnesota. The number of acres sown to rye in the fall of 1921 also showed an increase for this district over the 1920 figure with pronounced increases in North Dakota (90%) and in South Dakota (40%). These in creases are due in part to the favor able conditions this fall for planting, and also In the case of rye to the more favorable price conditions for this grain as compared with oats* barley, and corn in 1921. and to a de sire on the" part of farmers to clear their land of weeds with a rye crop. Wages Paid. The wages paid for farm help in 1921 for the three states of Minne sota, North and South Dakota show ed a 46.5 per cent decline from the average paid in 1920. The average for-1921 was $38 with room and board and in 1920 $71. The greatest decline took place in South Dakota. IS KILLED *BY HORSE. New Salem, N. D., Feb. 1.—Henry, age 14. son of Charles Schieck. a farmer living IS miles south of this place, died Monday evening from a fracture of the skull sustained by a kick from a horse. The boy was found lying in a doublt stall occupied by two horses on Friday night. He never regained consciSIasness. ADVERTISEMENT. REDPEPPERFOR RHEUMATIC PAIN Red Pepper Rub takes the "ouch" from sore, stiff, aching Joints. It can not hurt you, and it certainly stops that old 'rheumatism torture at once. When you are suffering so you can hardly get around, just try Red Pco pep Rub and you will have the quick est relief .known. Nothing has such concentrated, penetrating neat as.red peppers. Just as soon as you apply Red Pepper Rub you will feel the tingling heat. In three minutes warms the sore spot through and through.. Palp and Bareness are gona. Ask any good druggist for a jar ot Rowles Redjpepper Rub.. Be sure to get the genuine, with the name Rowles on eaelt package. :^i: agreement of Republican leaders in congress re-opened hearings on the measure, officers of organizations of former service men urged immediate "action on the bill. and. in reply to questions, said the problem of raising Unnecessary funds 'was one for con frees to solve. In the senate. Republican leaders frustrated attempts by the Demo crats to add the bonus bill to the Al lied debt refunding measure. After a brief heatod debate, the senate adopt ed. 42 to 28, a motion by Senator Watson, Republican. Indiana, to lay on/the table an amendment offered by Senator Simmons, Democrat, plan. n,ents, in valuation, Minneapolis reported an increase in December In offering, his amendment, Sena I tor Simmons declared that when he important cities of the Ninth Federal had proposed the bonus bill as an amendment to the tax revision meas ure, he had been told that it was the desire of the majority to act on the bonus in connection with the debt refunding bill, but now that the Re publicans had decided in party con ference that the bonus measure should hp acted upon separately, lie adrtod the administration now |«a»as:n:55s IM J1 'i URANP FORKS HERALD, WEDNESDAY, FEBRUARY 1, 1922. -mm IS UP AGAIN "Five Way" Adjustment Plan is Rejected by Sen ate43 to 31. fc'orth Carolina, IncorporaUng tho "five way" adjustment compensation limit debate and not pro Another Flan Rejected. The amendment would provide that the bonus be paid out of the interest on the foreign debt and that if this should prove insufficient, the secre tary of the treasury should issue cer tificates of indebtedness to be re deemed out of future interest pay- or with the approval of the president, to sell so much of the for eign bonds as might be necessary. Letter the senate rejected. 43 to 21, an amendment by Senator Jones, Democrat. New Mexico, which carried the "five way" plan, but had no pro vision for raising funds. For Ever and For, Evert Alice, Where Art Thou 1 1 had decided it would not be feasibl^ "TJlfe senate then adopted the Watson to use the Interest on the foreign debt for this purpose and it was the plan Instead to levy new. and special taxes. A-serting that Chairman Fordney, of the ways and mean?' committee, had proposed a tax on gasoline. Sen ator Simmons said this would place the whole burden of the bonus1 on the ufters of that commodity end would be -class legislation ia Its wont form. Opposing the amendment Chair man McCumber ot the finance com mittee, declared It had been decided to have rthe •Washington. Feb." 1.—discussion of the long pending soldier bonus bill know that adjusted compensation leg was renewed yesterday at both ends islatlon soo'n would l«e enacted. Ho of the capi^ol. Before the house ways deprecated what he called the in.icc and means committee, which byi*4on of party politics into the W«- bopua bill originate in the' house, because It would be a revenue raising measure and that every one to adding tion and said he objected ibt bill because the the bonus to the de president had declared- his opposition to any bonus measure that did not provide funds for immediate payment to the former service men. Watson Ends Discussion. Senator Watson of Indiana, cut the discussion short with a m'otion to, lay on the table, stat'n- that every one knew a bonus hill soon would be passed. The motion brought protest* from the Democratic side, Senators Ashurst of Ar-rona, Plttman of Ne vada, and others declaring that it vio lated the qpirit of the unanimous con- Republicans contested this view and after considerable wrangling the point of order against the motion was overruled' by Vice President Coolidge. ADVERTISEMENT. Sure Relief FOR INDIGESTION IHDIOESTIOfl 6 BELL-ANS Hot wafer Sure Relief ELL-ANS 25* and 754 Packages Everywhere Quartet in Major—Allegro Moderato 01* Car'lina Les Saltimbanques—C'est l'amour (My Darling) Taming cf the Shrew—Part I Taming of the Shrew—Part II Fete Boheme (Bohemian Festival) Where My Dear Lady Sleeps Russian Dance (Zimbalist) Second Hand Rose My Man (Mon Homme) Mill by the Sea Baby Dreams My Sweet Gal—Fox Trot I'm Laughing All the Time—Fox Trot Rose of My Soul Whimper to Me in the Starlight Georgia Rose Tomorrow Land I've Got My Habits On Happy Hottentot Gypsy Blues—Fox Trot (Haydn) '/. *i .{ii 5 'io|VS 1 Republicans- motion. with three Rep Johnson. L&Follette and Norrls—vot ing against it and two Democrats— King and Myers—supporting it. In lite statement before the ways and means' co,mmittee, Hanford Mac Nider. national commander of the American Legion.'attacked Secretary Mellon for opposing tbe bonus legis lation at this time. i»rB.min: is so£d. Letth, N. D., Feb. 1.—The Leith electric light and power plant has hec-n sou by stockholders to E. W. Richards of Raleigh tor $4,000. The village granted the purchaser a 20 year franchise upon condition of 24 hoUi' service ^nd not to exceed 28 cents a kilowatt. OIIJ IJEASES SECURED. Carson. N. D., Feb. 1.—The Grant County Oil company, formed here re cently by local men. has secured leases, on upwards of 6,000 acres of land. Farmers are being urged to come in as stockholders, taking stock in the company in payment for mineral rights to test out their lands, in addition to a one-eighth royalty. A'test well in one of the supposed oil structures near here is con templated this spring. Eye Glasses Are Beauty Preservers as well as sight helpers. Prop erly selected, they keep away wrinkles and banish that strain ed look from the eyes and face. But there is everything in having glasses selected by an expert. It you come here you'll get that kind o£ service. "We Arc Specialists" _- "V 5 i'-jT'f #-8^- I» Out today New Victor Records February 1922 Violin (The Mountebanks—*T1s Love) Canzonetta (Goethe-Loewe) 'Sweet and Low Hulda Lashanska with Criterion Quartet Querida Still wie die Nacht (Cilm as tbe Night) Ernestine Schumann-Heink -Violin A bypsy Blues—r ox 1 rot When Buddha Smiles—Medley Fox Trot (1) Run, Run, Run (2) Jumping (3) Running Game (4) Air de Ballet 1 Waltzes 1, 2 and 9 (Brahms) Victor Orchestra When Shall We Meet Again Edna Brown-Elliott Shaw Mississippi Cradle Edna Brown-Elliott Shaw Just a Little Love Song—Fox Trot, Paul Whiteman and His Orchestra Ty-Tee—Fox Trot Paul Whitman and His Orchestra Granny, You're My Mammy's Mammy—Fox Trot Club Royal Orchestra All Tnat I Need Is You—Fox Trot Club Royal Orchestra I Want My Mammy—Mandy 'n' Me—Fox Trot Joseph C. Smith and His Orchestra Stealing—Fox Trot JoseplfC. Smith and His Orchestra Popular Songs of Yesterday—Medlgy Waltz No. 1 Hackel^rge Orchestra Popular Songs of Yesterda} Walt No. 2 'Hackel-BergS Orchestra VICTOR TALKING MACHINE COMPANY ft Emilio De Gc N«w Jersey moDe uogorza Mischa Elman Flonzaley Quartet Amelita Galli-Curci Orville Harrold Hulda Lashanska EVENINGEDlTiOg RS ELECTBOtVF QUALITY PHONE SOUTfHlower Fourth Floor shop For Tow Designs FOV AH OoWW 33C-W O E 'S ?oTs «t*». Br. Gilbert Moskau DENTIST "T j. I PHONE PHONE 191 Northwestern Nat'l Bldr. I Rooms 418 to 420 1 Number Sire Price 66019 10 $1.25 74724 74726 66014 66017 66021 66020 87331 87332 74704 74705 74725 66018 64955 12 12 10 10 10 10 10 10 12 Titta Ruffo E. H. Sothern and Julia Marlowe E. H. Sothern and Julia Marlowe Arturo Toscanini and La Scala Orchestra Reinald Werrenrath Efrem Zimbalist \_ Elsie Baker All Star Trio and Their Orchestra' All Star Trio and Their Orchestra John Steel John Steel -I Paul Whiteman and His Orchestra' Paul Whitenjafi and His Orchestra •MAR HAVMA Victor Orchestra 1.75 1.75 1.25 1.25 1.25 1.25 1.25 1.25 1.75 12* 1.75 12 1.75 10 10 Fanny Brice Fanny Brice, Elsie Baker 1.25 1.25 45263 10 1.00 45264 10 1.00 18835 10 .75 18836 10 ,75 Sterling Trio Sterling Trio Miss Patricola Miss Patricola 18837 10 .75 18838 10 .75 18839 10 ,75 18840 10 .75 18841 10 .75 18842 10 .75 18843 10 .75 18845 10 .75 35713 12 1.25 Jud dul des '1 en dia «ua by ma is 1 itra •uni JlO' cor dr« 1 at vei eal to* sel ip •:B3 1 ,em 1 4i hr-