The Bismarck Tribune Newspaper, December 31, 1920, Page 2

PAGE TWO! ‘BISMARCK: DAILY TRIBUNE. FRIDAY, DECEMBER 34, 1920 Cen noua’ 62 PER CENT OF WHEAT 1s AT MARKETS Loans to Country Banks Have Increased. Reports Federal ‘ Reserye System INCREASE I SALES Only Article to Show Increase In Price As Reported Is ~~ Potato ‘Minneapotis. Dee. 31, — Chairman Rich of the iederal Reserve Bonk Minneapolis today issued the follow ing report on crop and vus.ness con- digions; Grain Movement Although it is estimated that about 62 per cent of the cotal whe \ c for the northwest has been received at terminals by the middie of Decein- ber, the total of our loans to country banks has not decreased, as woul be expected, but on the contrary has been increased. This-estimate o/ wheat moved is based upon ‘Minneap- olis receipts for the crop ; car between August 21 and December 15 of 56 mil- lion bushels, Duluth receipts of =! millions; wheat milled by outsiile mills of 16 millions, and a deduction made for Canadian receipts of more than 8 millions. Minneapolis receipts for all grains totaled about 21 mil- lions in November as compared Wi more than 26 millions in October and with receipts in November a year azo of less than 17 millions. The Duluth receipts exhibit similar tendencies. Stocks of graig in Minneapolis ttr- minalsyon Noventber 27 wer 400 bushels and have iner per cent since October 80. The con bined stacks of ‘Minneapoiis and Da- luth on November 27 wer2 23,1) ‘ushelg of all grains and were 8 p°- cent larger than the stocks at the close of October and about 86 per cenc of the total stocks held tne year be- fore. The combined wheat stocks were 9,500,000 bushels at the clos? of November, which were substan- tially the same as at the close cf October . Consumption Increases “The amount of grain that has been used by local milis increased about 8 per cent in November as com- pared with the preceding month but the total production in the mills is only 82 per cent of a yo ‘Oo and they are operating only to 2 per cent of their capacity.* The flour ship- ments of Minneapol’s and Duluh combined were about 8 per cent lar- ger in November than in October but only 71 per cent of a year ago. General Price Situation Wholesale pric?s for the ‘more im- portant northwestern products de- clined substantially during the month of November’. The high closing priae for No. 1 Dark Northern, cash whet on Oclober 30 was $2.17 and on No- veniber 30, $1.55, Between the same dates there were pronounced declines in all other grains, in flour, ‘in all kinds of livestock at the South St. Paul stockyards, in some grades of wool, in most of the products sold In the Minneapolis market, and in lun. ber. Dun’s review in quoting mini- mum prices for a selected list of 22 commodities at wholesate in central national markets on Decembe: 3 as compared with Octcber 29 shows that the: decline has not been confined to agricultural products alone. There were substantial declines in serge, print cloths, silks, rubber, copper, coke, lead, white lead, pif iron and oak; as well as in butter, when. flour, hides, leather, hogs and be>t. The only .articie exhiditing’ an in- crease was pototoes. These de-lines which have taken place in prices ar remarkably uniform whem compar'- sions are made with reuative pre-war price levels. It is apparent that the inevitable readjustment of prices fol- lowing the close of a,great. war, has been taking .place. The fact that this yeadjistment, has come: abo more smoothly’ and with’ less incon- venience than at any ‘preceding time and -without a widespread financt collapse, is evidence that otr econo n- ie and financial organization ;enjoys a solidity and strength which we have not. heretofore fully appreciated. Banking Developments in November , Our loans to meniber banks were reduced more than $4,070,06» during the month. This was brought about by the return ‘{o us of $100,000 0 our own notes no longer require | f. harvesting purposes and by tae re- ceipt of eastern exchange for « sales more, than 19 per ‘cent to eastern buyers of Minnenoliz municipal. bonds amounting ‘to about $3,000,000. The total’ accommodation. given member banks ‘on wecetaver » 1920, was $105,490,000, of which *59.- 400,000. consisted of agricultural and Uvestock paper, and half of the re- mainder was loans secured ‘hy United States bonds.. The 35 member hanks in the largest cities ¢cotie: their customers” more ‘thin Nons during: the month atid: retuced their loans with us-six and a half mil- lions. Inasmuch as. the ‘borrowings of these city banks declined ~ more than our total loans to all member banks declined during the monta, it is evident that the banks located in the! counrtry districts received additional accommodation during the month to; the extent of the difference of two millions, and this-additional accommo- dation to country banks was extendeéil to all sections of the district. The discount rates of the Federal Reserve Bank remained unchanged. and No- vember market rates did not change materially. Commercial paper, is sel- ling at 8 percent ‘as compared with 5Y% last year, while customers’ rate at banks is 714 per cent as compared with 5% per cent a year ago. ‘he total accomodation given by this bank to its member banks had in- creased 34 per cent on December 3 when “compared te December 5 a year ago. Banking Conditions. On 23, 1920. Between December 3 and 23 this Wank collected 19 million dollars of Joans from city bankers in the form of redigcounted business paper and increased the agricultural and live- wetock loans by one and a half ‘mil- Jions and increased the loans secured ‘ty the United States bonds by 2 mil- ATT SR December IS MUSIC WORTH $200, 000 A YEAR TO: ANY MAN? pak “No!” says Harold F,. McCormick, in aswer to the above question. may lose their meal ticket. TN Aid consequently. Chicago song birds The dollar and art are represented here by (ton, left to right) Rosa Raisa, Galli Curei, Cyrena Van Gordon, (beiow) \ arg Garden, McCormick and Lucien M iratore. (N. E. A. Staif_ Special) ‘Chicago, ‘Dec. 31.—Society has put ‘t un to bUsiness to support Chicago’s grand opera. If business won't put up, 44 of the world’s highest priced warblers will be looking for jobs, and— “Chica8o will be regarded by the world as a city of hog. skinners and iron puddlers,” says Herbert M. John- son, executive director of the Chicago rend Opera association. ap Harold F, McCormick, the harvester | millionaire, for 10 years has been the angel of Chicago opera. His opera bill has been $2,000,000. . McCormick’s Conclusion’ McCormick has ‘just ~ come to’ the conclusion that.no man can get $200,- 900 worth of satisfaction, auricular or civic, from’ grand opéra ip avyear. ‘\ Fitteen ~ other’ men “and ‘women, who've been chipping in to make up the additional deficit of $120,000. a year, likewise feel.the burden. spould he more wiflely distributed. “Fashionable merchants, hotels, and other businesses make money direci- ly from -patrons and divectly opera company brings Chicago,” says Director’ Johnson. + ‘Hereafter they must pay their share or there'll be no opera next season.” Deprives Many Cities This ‘means that many cities outside of Chicago, which the company has visited on tour every year, will te deprived! of hearing the world’s 5 musical organization. Each year the company ‘plays a pre- liminary tour of two weeks, then 10 weeks in Chicago, six aveeks in New York, and a tour of nine weeks to the Pacific const, during which it visits 21 ‘cities. Among the compant's stars are Galli Curci, Mary Garden, Cyrena Van | Gordon, Rosa Raisa, Lucien Muratore, Titta Ruffo ‘and ‘Alessandro Bonci. Prices of admission to“perform- ances /are {75 cents to $7.00. OIE GE 7 BERD lions, The net! reduction was suffi- cient to enable us to reduce our _re- discounts with other Federal Re- serve Banks by about 6 millions. There -has been no important change ‘between these two dates in the total e2mount of note issues, or interest rates . The oe accommodation given by this bank « to its \rhember banks on December 28 and increased as compared with December 28 a year ago. ToCure aCold in One Day Tdke Grove’s Laxative Broiis ~~) Quinine ‘tablets The genuine: ‘bears this signature 80c. + cause he was an attorney and coulé that Mr. F. A. Pike represented the state at Washington at the time the “42° taxpayers case” was argued in the supreme tourt. F. 2. Packard, 3. L. Nuchols; and Judge, agian were AWYER’S BILL ISTURNED DOWN < bY G, KOSITZKY case Was up criticised the court, be- [FOR MEN . - Hon use it permitted Mr. Pike to argue. but 1) minutes... Thé amount seems unreasonable and unwarranted.” Why the bill was presented by the Bank of “North. Dakota ts, not*ex- plained. Pike was aj{ special, assist- ant. attorney 8eneral, design hted by Governor Frazier. ‘ Auditor Declares That $7,716 Is “fo Much Money for F. A “FINDING YOUR warm Auditor ‘Carl Kositzky nas * yefuged to approve a bill for $7,716.00 for “le- [eal services” rendered by F. A. Pik ;a Twin Cities attorney, for appearing {in two cases. one of them the)‘42 tax- j payer's case.” The bill was presented to the state |by the Bank of North Dakota. It ‘was approved by the majority of the industrial commission and by two members of the state auditing boara, Attorney-General Langer voting against it. ‘ \ “T yeftise to pay this bill because T don’t think it is a just claim against the state,”s said Mr: Kositzky. “We yhave an Attorney General elected by | the people to look after legal matters, and when the,indugtrial commission | hired the present secretary of the in- dustrial commission it was stated that he was to be paid $5,000 a year be- look after legal matters as. well a3 attend to his duties a8 secretary of the commission. “According to this bill ‘presented by the Bank of North Dakota it. appears MERCHANTS T0 ASK-RISK LAW with hazardous occupations “and must help carry the burden of thos employ- ments where accidents and injuries are frequent and serious. The law should be amended to exclude thc Cuticura Talcum Evangelist H. E. COPELAND Workers and Make Agree ment: Effective BE MODIFIED Would. Make It It Optional With RATES CLAIMED HIGH merchants ‘from its operation.” aw ‘is “one’'that” ciusts us if your.,, committee, can ance,” the committee says. “argo. The legislative committee, it is an- * nounced, will come to Bismarck in January to “try and get=some satis- faction “Gn -some Ikws_ pertaining tc merchandising} The Sunday closing more vouble each year than any other, and get this changed-to réad differently than it now. appears in our statute Dooksews can at léast be free from this\annoy- The’ next convention of the retail merchants association will be: held in Is So Refreshing An exquisitely scented, antiseptic gow ler. 2s quick relief to-sun- } burned orirritated skins, overcomes heavy perspiration, and imparts a delicate, lasting iragrance, leaving the skin sweet and wholesome. ae-Cu jours feilet Trio. Coasistin| Scap, Ointment and Taleym a: pensable adjuncts of the daily in maintaining skin p health. By bringing ¢ emoilien contact wit! 4 for allé toilet your skin as in q parposes, you keep the skin, scalp, |, ir and hands.clear, sweet and Psi : at the : EVANGELICAL, CHURCH ay ~ Cor. 7th and Rossék’Sts: SUNDAY at 3 O'clock, P. M. individua!s| through the advertising the] finest | A modification of the terms of the workmen's compensation law will be asked of the legislature by the North —— Dakota: Retail Merchants association. “The law as now administered is unsatisfactory to both employes; ana employer says an annotacement of the association legislative commit-'} tee. The merchants will ask removal of 4the compulsory features of the law and permit any merchant with the un- animous consent of his employes to be excepted from ‘the operation of the \law where such employes file with the Workmen’s Compensation Bureatt their written consent thereto. “I think we are agreed that the law ag now interpreted is more injurious to women and minors whom it-seeks to protect than to-any other class, as it makés- such employes undesirable as workers, for because of these re- | strictions they cannot compete for | work on an even basis with'men em ployes and whtre labor is. plentiful, the men will get.the jobs. Also many or hop s would prefer to work long- er hours and get better pay than they can expect under a law limiting the hours of labor so strictly as our law now does,” says the legislative com- | mittee. Pay Higher Premiums. Merchants, it is stated, are paying higher premiums for compensation or accident ‘insurance than they should because the merchants. are classed ———E——————ee ——— ASK Your Grocer For Humpty ren ty Bread Produced b BARKER BAKERY vies YOU ASK FOR _BUTTER A ‘NORTHERN REDUCTION In'Tailored Suits $85 values now $50.00} $75 values now . $45.00 $65 values now .$40.90 |) $50 to ‘$55 value $37.50 $40 to $45 value $30.00 _. ‘TERMS CASH Ending Feb. 28th, 1921 |) KLEIN Tailor and Cleaner || Ran Rear (eo! and Beulah Lump Coal call Wachter, Trans- fer Co; ‘Phone 62: ' BY ALL MEANS ATTEND” ~ THIS INTERESTING MEETING | everyw sere. Adrese: **Cuti uieDents | The Choice Prizes-of Life Are Won COLUMBIA PHONOGRAPHS COLUMBIA’ RECORDS ON EASY TERMS IF DESIRED COWAN’S DRUG STORE .- This College has constantly more calls for office help than it cam supply. All students who remained to complete its course have: been sent to ggod-business and banking positions. 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