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Foreword Minneapolis presents herewith the statistical facts that tell the story of the rapid growth of the country and of the City. It offers herewith the reasons why the Northwest should have a Federal Reserve Bank and why Minneapolis is the logical place for its location. Minneapolis represents the Northwest, the most prosperous and rapidly growing part of the United States. The City and the vast country over which its financial influence extends, are vitally interested in the new currency law. The financial legislation known as the Federal Keserve Act, Minneapolis business men believe and business men of the Northwest as a whole agree, will work out successfully and beneficially, if in the regional alignment at organization time proper' consideration be given to great fundamental economic factors that are existent. The agricultural, commercial and financial tendencies will shape conditions of the near future should also be considered. The growth of the Northwest and the ever-increasing financial necessities, find presentation herein. Billions of dollars are recorded in the annual turnover. For the consideration of the organization committee this representation sets forth elsewhere in full detail the facts concerning Minneapolis, as the Financial center of the Northwest Grain trade center Manufacturing center Distributing center Milling center Freight traffic center What Minneapolis Presents Minneapolis finances the major portion of the crop movement from the farms of Minnesota, North and South Dakota and Montana. It is the greatest wholesale market. The lumber trade is financed and managed fromTllinneapolis. It is the world's greatest milling city. Its predominant position was gained by9 and is based upon agriculture. Considered by itself, in relation to the Northwest or in relation to St. Paul it presents these facts and comparisons : Minneapolis bank clearings, 1913... $1,312,000,000 St. Paul bank clearings, 1913 $530,000,000 Minneapolis bank deposits, not including savings banks $101,000,000 St. Paul bank deposits, not including savings banks $51,000,000 Minneapolis daily average loaded freight cars received 1,159 St. Paul daily average freight cars received loaded 787 Minneapolis daily average freight cars shipped 1,101 St. Paul daily average freight cars shipped 519 Minneapolis total loaded carlot in and out traffic, 1913 763,519 St. Paul total loaded carlot ia and out traffic, 1313 410,848 Minneapolis averse, daily shipments of merchandise) pounds. 3,400,940 St. Paul average daily shipments of merchandise, pounds 1,841,390 Capital and surplus in all national banks in Minneapolis in 1913 $13,710,000 Capital and surplus in all national banks in St. Paul in 1913 $9,600,000 The net banking power of Minneapolis is 70 per cent greater than that of St. Paul. Minneapolis bank clearings in 1913 exceeded those in Spokane, Denver and Seattle combined. St. Paul has increased bank balances since 1900 by 200% Individual deposits in national banks in 1913 Accounts carried by outside banks in Minneapolis banks 3,327 Minneapolis Increase in individual deposits in Minneapolis national banks since 1900... $45,000,000 350% Individual deposits in St. Paul national banks, 1913 •. $35,000,000 Increase in individual deposits in St. Paul national banks since 1900 200% Balances of Minneapolis national banks in 1913 $35,000,000 Balances of St. Paul national banks in 1913 $17,000,000 Minneapolis has increased bank balances since 1900 by , 500% Farm output of Minnesota, North and South Dakota and Montana advanced nearly 400 per cent in 1890-1900. Farm output of the United States as a whole advanced 184 per cent in 18901900. Merchandise cars, forwarded and received, 1913, Minneapolis 225,021 Merchandise cars, forwarded and received, 1913, St. Paul 156,197 Minneapolis-Duluth market in 1913 received 62 per cent of all grain received in Minneapolis, Duluth, Kansas City, St. Louis and Omaha. The Northwest and the New Currency System Minneapolis and Its Relation to the Rich and Rapidly Growing Territory Whose Agricultural, Commercial and industrial Activities the City Finances. The plea for the location of a federal reserve bank in the Northwest is based on the clause in section 2 of the federal reserve act, which states: "Provided, that the districts shall be apportioned with due regard to the convenience and customary course of business and shall not necessarily be coterminous with any state or states." The business men of the Northwest are grateful for consideration accorded by the organization committee to just claims to recognition as an agricultural, commercial, manufacturing and banking district, in putting into effect a piece of legislation which is confidently believed by the great majority of the people to be the most important and beneficent, from an economic standpoint, of any that has been passed in a half, at least, if not a whole, century. neapolis from a half hour to three-quarters of an hour sooner than St. Paul, and depart westward from a half hour to three-quarters of an hour later. This district is served by railroads whose mileage has grown from 19,706 miles in 1900, to 29,642 miles at the end of June 30, 1911, with terminals at Minneapolis and St. Paul. Minneapolis and St. Paul constitute a center with a population, according to the census figures of 1910, of 516,152 people, of which 301,408 lived in Minneapolis. Minneapolis gained in population from 1900 to 1910, 47 per cent, and St. Paul gained, during the same period, 31 per cent. At the same rate of increase, at the next federal census in 1920 the population of Minneapolis will be 450,000, while tflat of St. Paul will be 280,000. This commercial, marketing and banking center represents essentially an agricultural people, and the value of total farm jproducts from these states from 1870 to 1910 is shown by the following table: In that vast new and growing territory extending from Minneapolis, St. Paul and Duluth westward to Puget Sound, amounting in area to over one-fifth of the United States and consisting of Value of Farm Products by Decade* with the Perabout one-sixth of the arable lands of the United centage of Increase in the Last Ten-Year Period. States, with a variety and. extent of natural reTotals Include the Return from Dairy Products sources not exceeded, if equaled, by any other terriand Live Stock. tory of like size on this continent, there is a gene ral and universal desire and even eagerness on the Per Cent of Part of all national and most state banks and trust Increase in 1910 1900 Last Decade companies to enter the system provided by this new currency bill. No section of the entire country will GS $270,000,000 $161,217,000 this bill a more cordial welcome or a heartier Minnesota 211 In speaking of the Northwest, reference is made Particularly to the states of Minnesota, North and »°uth Dakota, Montana and Washington, comprise s an area of 447,070 square miles. This is nearly a A I ? *f6t8h et hNee awr Ee an o f N e w Y o r k > Pen nsylvania ;*W ° ^ a n d states combined, which * 160,850 square miles. The Railroads and the Banks entire district » running east and are four great trunk lines centering into Min- *IT ± and St PauL Kan? These PaUl & S a u l t Ste m 1>acifie a u d Ohi ' ^ Marie ' are the Min Great ne- Northern, PauL • ' <>ago, Milwaukee & St. th all of the traffic, freight, passenger, * With ex e ex We We ***** press, passing over these lines from the to the th east, trains i on these roads enter Minto North Dakota— South Dakota Montana Washington Total 162 112 191 126 1390 Minnesota. North Dakota South Dokota Montana Washington Total 200,000,000 173,000,000 60,500,000 101,300,000 64,252,000 66,082,000 28,616,000 34,827,000 $804,800,000 $354,994,000 1880 1870 $71,238,000 $49,468,000 21,264,000 5,648,000 22,047,000 / 6,273,000 2,024,000 13,674,000 4,212,000 $27,440,000 $61,352,000 $31,216,000 $134,496,000 400,000 1,376,000 2,000.000 The Rapidly Growing Northwest Minnesota, North and South Dakota, according to the reports of the Agricultural Department of the United States, had from 27 to 35 per cent of their tillable soil under cultivation in 1909. They are credited by the same authority with having 146,000,000 acres capable of cultivation, as against 311,000,000 acres actually cultivated in the entire United States in 1909. Judging from the tremendous increase in the production of these states during the last thirty years, it is hardly possible to over-estimate the probable production during the next ten or twenty years. The population of these states in 1890 was 2,350,022, while the 1910 census gives the same states a population of 4,654,695, or a gain of nearly 100 per cent. The increase in business, agricultural products and banking capital and deposits is many times greater than the increase in population, as will be shown by the following figures : In 1898 the total deposits of the 216 banks in Minnesota were $59,370,000; in South Dakota the deposits of the 190 banks were $9,713,000; total deposits of the 111 banks in North Dakota were $9,109,000, or a total for the three states of $78,192,000, while in 1913 the deposits of the 1,046 banks of Minnesota were $379,013,000; deposits of the 625 banks in South Dakota were $90,535,000, and of the 751 banks in North Dakota, $90,321,000, or a total of $559,869,000. It is not possible to take any similar area in the United States and show any increase even approximating this. State Banks and the New Law. Of the 2,978 banks in the five states comprising the district under consideration, Minnesota, North and South Dakota, Montana and Washington, with a combined capital of 109,944,000 and surplus of $61,711,000, with deposits of $858,660,000 and loans to customers of $765,220,000, 652 are national banks and the remaining 2,326 are state or private banking institutions. In round numbers, $80,000,000 of the capital and surplus of the total of $170,000,000, is held by national banks and the balance, $90,000,000, by state banks. The only possible inducement that could be offered these 2,326 state banks to join the Federal Reserve System is the convenience and usefulness of such a bank to them, and that convenience and usefulness lies in making it possible for them to use the system along the lines of present established relations. In a map presented herewith is shown the distances between the Twin Cities and the various supply centers for the Northwest, also the distance between Chicago and these centers. It is important to note the fact that currency can reach the eastern border of Montana within one day from Minneapolis, while from Chicago the time required is two days. This means much to the local bank as well as to the local grain buyer. Less than a quarter of a century, and, as to a large part of this territory, less than a decade, measures the period of its greatest growth and development. Its past performance and its present prosperity and condition are but an earnest of what it will do in the future. While this representation covers particularly the agricultural products of this territory, it is important to consider that Minnesota is the greatest ITOE producing state in the Union, and Montana likewise takes the lead in copper production, and this is clearly shown by the data and charts herewith. Western Canada and the Future. Enhancing the importance of this district, is the fact that within the last few days the local parliaments of the provinces of Manitoba, Saskatchewan and Alberta have unanimously passed resolutions to be forwarded to the Dominion Parliament at Ottawa, in favor of removing the Canadian tariff on wheat, and the presnt premier of Manitoba, who strenuously opposed reciprocity, and also one of the conservative members of the present cabinet have come out strongly in favor of such removal It is confidently predicted in Canada that it is only a question of a short time when this tariff will be removed, and, when it is removed, Minneapolis will be the cash market for a large amount of the wheat to be grown in those provinces. Thousands of citizens of the United States are now making their homes in Canada. Their desire is to trade with the States, and the business of the two countries would be greatly facilitated by the location of a Federal Reserve Bank at Minneapolis, the natural gateway to all "Western Canada. In addition to being the greatest primary grain market in the world, Minneapolis is the leading distributing center of agricultural implements to this entire Northwestern country. In diversity, variety and volume of production from the soil, the forests and the mines, no other district of similar area in the United States can begin to equal it. The Northwest Is Optimistic. Even* during the natural and temporary business lull of a presidential year, and of the one immfr diately following a change of federal administration, this entire territory, with only negligible exceptions, and Minneapolis its natural metropolis were prosperous to an unprecedented degree. the passage of the recent tariff bill, fraught with an almost certain increase in our trade intercourse with the Canadian Northwest, which is beyond the fair estimate of the most far-sighted and even visionary, supplemented by the beneficial provisions of the currency bill, its people of the Northwest, and Minneapolis business men believe, of the whole country, are entering upon a period of safe and sane development and prosperity, such as we have never before experienced. Happily, the doleful forebodings of impending business disaster which in the near past have been emanating from certain quarters, have largely passed away, and optimistic predictions as to an immediate awakening in all lines of business are now being generally made. These predictions are in line with the best judgment of the business men and bankers in this great district. Size of Farms Has Bearing on Reserve Bank Problem Northwest Section Requires Extraordinary Agencies for Gathering, Storing, Marketing and Financing of Agricultural Products— Unique Credit System Developed. a magnificent surplus of values each year, it logically follows that the prevalent farm credit is a relatively short-time obligation associated with the improvement and equipment of farms and the financing of crops. Such securities do not lie within the category of the usual farm mortgage in static com* munities or on the margin of settlement where the farm debt carries the first costs of acquisition and development. It has been demonstrated that Minnesota mortgages are of such nature, as to time, purpose and amount, as to place them in the highest class of real-estate securities, indeed, to a degree, analogous to "commercial paper/* * The prevailing size of farms taken in connection with the nature of agricultural industries and conditions of farm tenure, may be indicative of certain commercial activities and associated banking operations of regional significance. Minnesota, the Dakotas and Montana are states of large farm units. These farms are mainly engaged in specialized production and contribute strongly to the national food supply, and to the export trade. For these reasons this section requires extraordinary agencies for the gathering, exchange, storage and distribution of such products, and for the financing of great values involved. In certain instances the elaboration of crude products has come to constitute large manufacturing industries, particularly, the milling of grains, flax, and forest products. These industrial activities and commercial transactions are largely seasonal, and involve relatively short periods of time fend likewise a short-time financial and trade turnover, thus constituting the most substantial basis of bank credit as recognized by accepted banking theory and modern laws in all commercial nations. Payments Have Significance The significance of expenditures for farm labor in the northern states becomes apparent when such payments are considered in connection with .Uhe relatively sparse population, small number and large size of farms, and the relatively extreme seasonal nature of farming activities in this part of the United States. The seasonal demand for labor in the wheat fields of Kansas is well known. It is a matter of fact Grain Financing System Developed that the harvest demand for labor in Minnesota The banks, grain houses and millers of Minne- and the Dakotas surpasses that of any other food apolis, have of necessity developed a system of producing section of equal area and importance in handling and financing grain which is not only the world. unique and indigenous to this district, but is reThe seeding and harvesting of wheat in the North markably similar, almost identical in principal, to is not co-ordinated, as in states farther south and the European discount system, an adaptation of which is apparently contemplated by the new cur- east, with the sequential operations of general farming and the contiguous processes of cultivarency law. tion, harvesting and feeding characteristic of the A study of farm credits reveals noteworthy facts corn country. Furthermore, the share tenant sysconcerning agricultural finances in the country tribtem and stable labor supply of the southern counutary to the Minneapolis money market, namely try reduces to a minimum the need of banking acthe relatively high and seasonal demand for bank accommodations as compared with the South and commodation in aid of harvest operations. The seasonal demand for wage payments is a West, and a comparative absence of tenancy in contrast with equally productive areas in other regions. unique factor of considerable importance in the In other words, the lands of Minnesota, the Dakotas necessary funding operations of the banks of the and Montana, are cultivated and managed by their Northwest. This demand arises out of the necesowners; and, in view of the fact that they produce sity for a relatively large number of farm laborers, 6 for relatively short periods of employment, and at a relatively high cash wage. The fact that such expenditures are almost immediately reflected in commercial products, commanding a world market and stable and certain values, is especially significant Farm Employment Figures from Census Census reports upon farm employment for 1909, including approximately 60 per cent of all farms, for Minnesota, the Dakotas and Montana as compared with Kansas, Nebraska and Iowa, appear in the accompanying table: Minnesota Dakotas and Montana Total farm wages. $69,800,000 Average wages per farm $343.00 Kansas Nebraska and Iowa Excess of Northern Section Over Southern Section $59,000,000 $10,800,000 18% $224.00 $119.00 54% •Report on conditions in Minnesota with regard to agricultural credit, by committee appointed by Gov. A. O. Eberhart, December 9, 1913. Minneapolis Finances The Agricultural Northwest Grain Drafts Aggregating $217,909,000 Were Paid By Minneapolis Banks Last Year. Clearings Totaled $1,312,000,000. Currency Shipments Amounted to $34,358,000. If the organization committee ghall designate the territory embracing Minnesota, North and South Dakota, Montana and Washington as a federal reserve district, it will be charged with the further duty, second only in importance, of designating within such territory a federal reserve city. Section 2 of the act requires "that the federal reserve districts shall be apportioned with. due regard to the convenience and customary course of business and shall not necessarily be coterminous with any state or states." The real purpose and spirit of this requirement, with respect to the reserve districts, is peculiarly applicable in designating the reserve cities. It is especially the convenience of the peopie within the district and the usual and customary course of business therein which must necessarily be controlling in the selection of a reserve city. Merely geographical, educational, social, sentimental, governmental or political reasons should have little if any weight, in the selection of such a city. By the census of 1910 Minneapolis had a population of 301,408, while St. Paid was given 214,744. This lead in population of Minneapolis over St: Paul of 86,664 in 1910 (and now in all probability considerably greater) tells but a small part of the real story. The constantly increasing prestige and precedence of Minneapolis over St. Paul as the commercial, manufacturing and banking center of the Northwest is so marked and indisputably proven by the facts and figures of official records as to leave no room for doubt or discussion. St. Paul had the advantage of being the older city and the capital of the state, which, in the days of small things, gave it an artificial lead over Minneapolis, but commencing with 1880, a decade of real rivalry and competition set in, at the end of which Minneapolis was well in the lead of St. Paul in practically all the lines of activity in which these cities were engaged, and every year since has but emphasized and increased this lead. Comparisons are said to be odious, but if this be true, circumstances sometimes make them necessary. Minneapolis the Logical Place That city should be selected which, by reason of its location, the extent and variety of its business, the volume of its banking capital and surplus, its resources in available deposits, as well as its size and 8 commercial and general importance, is most intimately connected with, and most closely touches, the various activities of the whole district, We wish to show the supremacy of Minneapolis as the location for a reserve bank as compared with St. Paul. First* in reference to its banking capital and surplus at the present time: Minneapolis— Capital $10,630,000.00 Surplus 9,723,000.00 * Total $20,403,000.00 as against St. Paul— Capital $6,750,000.00 Surplus • 5,241,000.00 ; Total ' $11,991,000.00 Second, deposits: Minneapolis $112,244,000.00 St. Paul 58,403,000.00 Third, bank clearings for 1913: Minneapolis $1,312,412,257.00 St. Paul 530,515,562.00 This makes total clearings for the year 1913 for the two cities of $1,842,927,819.00, of which Minneapolis had 72 per cent and St Paul 28 per cent Just in what degree the beginning of the crop movement annually affects Minneapolis may be seen i n a c h a r t presented herewith, which shows that weekly clearings rose from $17,776,000.00 in AugU st, 1913, to $37,616,000.00 in October, 1913, and in St. Paul from $9,790,000.00 in August, to $12,588,000.00 in October. Comparisons for a period of years show that these changes always occur at crop moving time and that Minneapolis always carries the load of providing money or credit for the Northwest In this connection, it is an interesting and significant fact that the lowest weekly clearings of Mm* neapolis exceeded by about $4,000,000.00 the highest weekly clearings of St. Paul for the year 1913. Minneapolis bajnks handled in 1913, $217,909,* 000.00 worth of grain drafts, and shipped out for the purchase of grain in currency, $34,358,000.00, of which $20,782,000.00 was shipped during the months of August, September, October and November. There are 2,978 banks in Minnesota, North Dakota, South Dakota, Montana and Washington, and the number of country bank accounts carried in the Minneapolis banks all told during December, 1913, was 3,329. The total of out-of-town checks handled by the banks of Minneapolis during 1913 was $1,328,274,000.00. The process of growth in national bank capital and surplus of the two cities from 1872 to the present time is strikingly illustrated by the following figures: In 1872 the Capital of national banks in Minneapolis was $542,000.00 Surplus 41,585.00 Total In St. Paul Capital Surplus $583,585,00 $1,077,900.00 249,021.00 Total In 1880 Minneapolis Capital Surplus $1,326,921.00 $1,250,000.00 105,588.00 Total St. Paul Capital Surplus $1,355,588.00 $2,200,000.00 505,000.00 Total In 1890 Minneapolis Capital Surplus Total St. Paul Capital Surplus Total . . , . In 1900 Minneapolis Capital Surplus Total • . . . . . . , $2,705,000.00 $4,500,000.00 602,000.00 $5,102,000.00 # $5,200,000.00 1,290,000.00 $6,490,000.00 $4,000,000.00 697,000.00 $4,697,000.00 9 St. Paul Capital Surplus $3,800,000.00 667,000.00 Total $4,467,000.00 Financial Strength of Northwest As showing the banking resources of the states of Minnesota, North Dakota, South Dakota, Montana and Washington, the following figures are significant : Capital of state and national banks in Minnesota $45,426,000.00 Surplus of state and national banks in Minnesota 30,315,000.00 Capital of state and national banks in North Dakota 14,015,000.00 Surplus of state and national banks in North Dakota, 6,585,000.00 Capital of state and national banks in South Dakota 12,644,000.00 Surplus of state and national banks in South Dakota. 5,470,000.00 Capital of state and national banks in Montana • 13,591,000.00 Surplus of state and national banks in Montana 7,262,000.00 Capital of state and national banks in Washington 24,268,000.00 Surplus of state and national banks in Washington 12,079,000.00 Total capital of the states named $109,944,000,00 Total surplus of the states named.. 61,711,000,00 Total deposits of the banks of the states above enumerated, $85S,666,000.00, with loans of $765,220,000.00. Minneapolis has long financed the Northwest crop movement. Its ownership of grain elevators, line lumber yards, branch houses of produce firms and its interests in numerous country banks, have made banking records that afford immediate access to the credit situation in the Northwest. The intimate acquaintance of the Minneapolis bankers with the bankers of the entire Northwest and their personal knowledge of the territory in which they are operating would be quite indispensable to the proper management of a federal reserve bank in this territory. The Strategic Situation The strategic position of Minneapolis as a location for a federal reserve bank as against the claim of St. Paul, can be shown in no better manner than by stating that in North Dakota only one town can reach St. Paul without first passing through Min- neapolis. No cities or towns in Montana or Washington can reach St. Paul without first passing through Minneapolis. This is true also of threefourths of Minnesota and more than one-half of South Dakota. Minneapolis especially represents and is the natural center for all agricultural, commercial and banking interests of this entire district. It is the peculiar merit of this bill which has so generally commended it to the intelligence and conscience of tthe American people that it is to be the especial handmaid of the legitimate industries of the whole country, be they agricultural, commercial or manufacturing. Those speculative activities which are, and always have been, essentially parasitical are, with rare wisdom, not fostered by this bill and are 10 only recognized by it to be expressly excluded from any of th§ benefits of its provisions. The federal reserve districts and the federal reserve cities which your committee will designate, will, in all human probability, remain unchanged for five, ten, fifteen or perhaps twenty-five years. The important and far-reaching effect of your work in these respects cannot well be exaggerated. You are charged with the duty of meeting not merely the necessities of the present but also of providing for the probable requirements of the future. The designation of this territory as a federal reserve district and of Minneapolis as the reserve city will best serve the interests of that portion of the country and fully meet the requirements of the currency bill. Grain Crops of the Northwest Flow to Minneapolis City is Distributing Center of Agricultural Yields of Minnesota, North Dakota, South Dakota and Montana, and of All Products Blanufactured Therefrom. Minneapolis is the market through which pri- value of the 1913 crop of grain, including hay and marily the great bulk of the agricultural products potatoes, of $441,090,000. of Minnesota, North and South Dakota and MonReceipts of grain and flaxseed at Minneapolis and tana finds distribution. An important part of the Duluth, by crop years, with average price per year, grain and agricultural products of Northern Iowa and values, for 1900, 1903, 1906, 1909, 1912 and and Nebraska is also distributed through this mar- 1913, are shown in Grain Exhibit " B . " ket center. "While a certain portion of the grain Attention is called to the fact that receipts at from North Dakota and Northern Minnesota is Minneapolis and Duluth combined, for the year 1900, marketed at Duluth, nearly all this grain is re- totaled more than 150,000,000 bushels, and that of ceived and handled at Duluth by branch offices of the crop of 1912, nearly 337,000,000 bushels were Minneapolis grain firms, and nearly all the financing received by both Minneapolis and Duluth combined, of the crops of Minnesota, North and South Da- of which about 207,000,000 bushels were received by kota and Montana is arranged for in Minneapolis. Minneapolis, and 130,000,000 bushels by Duluth. Estimated value of the receipts at Minneapolis Attention is directed first to the character and value of the products of the farms of these four was over $193,000,000 for the crop of 1912, and states, the extraordinary growth in total quantity $135,742,160 for Duluth, making the total value of produced, and the value thereof, during the past the grain and flaxseed received at these two markets thirteen years. It will be shown later that the in- during the crop year of 1912, $328,783,180. Minneapolis is a very important shipping center, crease in quantity and value of farm products throughout the Northwest is vastly greater than and on Grain Exhibit " C , " shipments of grain and flaxseed from Minneapolis by crop years, with the proportional increase in the Southwest Production and value at the farm of wheat, com, the average price per year and value, are set forth, oats, barley, rye, flaxseed, buckwheat, potatoes and for the crop years of 1900, 1903, 1906, 1909, 1912 hay, are given in Grain Exhibit " A " hereto attach- and^part of 1913. Total value of the grain and flaxed, showing the yield and the value for Minnesota, seed shipped from Minneapolis in 1900 was slightly North and South Dakota and Montana, separately, over $16,000,000, while shipments from Minneapolis also the total production and value of these four in the crop of 1912 reached $77,745,000. This shows states. These are shown also for the crop of 1900, the enormous growth of Minneapolis as a shipping 1903, 1906, 1909, 1912 and 1913. All estimates of and distributing center during the past twelve production and farm values are taken as of De- years. cember 1 each year, and are from the tables comThe Fanners and Country Elevators. V/ piled by the United States Department of AgriculIt is a well known fact that the farmers and proture. ducers of the Northwest desire to market the bulk The total production of grain and potatoes in of their crop during the months of September, Octhe crop of 1900 for these four states was nearly tober, November and December following the har242,000,000 bushels, total value being estimated at vest, and the quantity of farm products thrown up$97,690,000. on the market during the crop-moving period is Contrast this with the production in the crop of therefore vastly in excess of the requirements of 1912 of over 928,000,000 bushels of grain and pota- consumers. This necessitates the carrying of the surplus until demand is reached, and it is to the V i ' ^ 1 1 a n e s t i m *ted value of $421,745,000. The crop of 1913 in the Northwest was less than banks of Minneapolis that those engaged in carrytnat of 1912, and yet the total production of grain ing this grain look for the funds necessary for this an <* potatoes in these four states alone equaled work. The enormous strain which this situation places yearly 759,000,000 bushels, with an estimated value, ^ecember 1, 1913, of $407,413,000. Adding to this upon the resources of the banks of Minneapolis is "7. Pro<*u<>tion of 4,618,000 tons of hay, with an clearly shown by Grain Exhibits " D , " " E " and estimated value of $33,677,000, gives a total fi>rm 11 Grain Exhibit " D " shows the stocks of grain nearly all of which must be arranged for by the and flaxseed (and values) in store in terminal ele- Minneapolis banks during these four months. vators at Minneapolis, on various dates from AuExperience in the 1907 Panic gust 31, 1913, to January 1, 1914, showing an inOne of the main purposes of a federal reserve crease in value from August 31, when the amount bank is to relieve periods of extraordinary strain. was $8,853,700, to $21,673,500, on January 1, 1914, In this connection, attention should be called to an increase of about $13,000,000 in the value of the the practice of the farmers and grain producers stocks in store in Minneapolis in four months. This of storing grain in country elevators in enormous increase was* less, in fact, during September, Octo- quantities, taking storage receipts therefor, which ber, November and December, 1913, than is usually storage receipts are later surrendered and the grain the case for corresponding months of previous sold. years, owing to the fact that an unusually large Storage receipts outstanding in farmers' hands quantity of grain was carried over during the mid- during the height of the crop movement of the crop summer months; the fact being that in the majority of 1912 were estimated to represent a total value of years the terminal stocks are very low during the of $8,000,000. In case of a panic, or other abnormid-summer months and at the beginning of the mal condition, all of these storage tickets are likely crop movement in the falL to be presented and surrendered, and demand made Grain Exhibit " £ " shows the same features re- upon the elevator companies for their value. This garding grain and flaxseed in store in terminal ele- actually happened during the fall of 1907, and, elevators at Duluth, during the same period, the total vator companies, being unable to secure funds from value of grain and flaxseed in store at the terminal the Minneapolis banks, were entirely unable to purelevators on August 31, 1913, being $5,485,690, and chase the grain represented by the storage receipts. on January 1, 1914, $13,042,490. It is a condition such as this that a reserve bank In other words, on August 31, 1913, in the ter- is designed to care for. minal elevators in both Minneapolis and Duluth, The Great Milling Industry there was in store grain and flaxseed to the value Minneapolis is well known to be the largest flour of $14,339,390, and in four months from that date manufacturing center in the world. Grain Exhibit this amount had been increased to $34,715,990, an "G" sets forth that there were manufactured and increase of over $20,000,000. shipped by the Minneapolis mills during the calenIn Grain Exhibit " F " is set forth a statement, dar year 1913, 17,673,725 barrels of flour, with a showing the total number of country grain elevators total value of $68,043,841. Of this amount, 1,764,805 in the four states tributary to Minneapolis to be barrels were expqrted, having a value of $6,794,499. 5,239, with a total capacity of about 104,780,000 Some fifty-one country mills are located in the bushels. The total quantity of grain in store in territory immediately tributary to Minneapolis, these country elevators, as per the statement in the with a total daily capacity of 40,865 barrels. The "Northwestern Miller'1 (in January 7, 1914, issue, output of these country mills was 62 per cent of page 26), is from twenty-five to twenty-seven miltheir capacity in 1913, making the total daily output lion bushels. This represents a value of about of these country mills about 25,000 barrels, and the $18,200,000. yearly output 7,500,000 barrels, with a total value Taking the stocks of grain and flaxseed on hand of $28,875,000. in the Minneapolis terminal elevators, Duluth terIn other words, the Minneapolis flour mills and minal elevators, and country elevators, on January the country mills in the territory tributary to Min1, 1914, the total amounts to nearly $53,000,000 in neapolis manufactured 25,173,725 barrels of flour value; and practically all o fthe money necessary during 1913, with a total value of $96,918,841. to carry this grain is arranged for at Minneapolis. Practically all of this enormous flour manufacturCountry elevators are as a rule almost entirely ing business is financed by banks in Minneapolis, empty on August 31 of each year; and if to the and the smaller banks of the Northwest. increase in value of grain in store in terminal elevators at Minneapolis and Duluth, from August 31, Linseed Oil and Mill By-Products 1913, to January 1, 1914 (which, as stated before, Minneapolis is also the largest linseed oil manuis over twenty million dollars) be added the value facturing center in the world. Grain Exhibit "H" of country elevator stocks on hand January 1, shows that during the calendar year 1913, 216,222,1914, it makes an increase of about $38,500,000, 794 pounds of linseed oil were manufactured, with 12 on account of the removal of the tariff to Minneapolis and Duluth, it would represent a total of about 40,000,000 bushels, with a value of $30,000,000, which would be added to the value of the grain necessarily financed by the banks at these market places. Northwest Compared with Southwest In considering the question of the location of a federal reserve bank at Minneapolis the importance and value of the agricultural products of the Northwest should be compared with similar data regarding the Southwest, tributary to Kansas City and St. Louis and Omaha. Grain Exhibit " K " sets forth the United States government crop reports, showing the production and farm value of the crops of Missouri, Kansas, Nebraska, Oklahoma and Colorado, and the totals for the same crops, with reference to Minneapolis. The United States Department of Agriculture estimates of production and values are used, as in the tables for the Northwest, the values being based on December of each calendar year. These five states are tributary to the grain markets of St. Louis, Kansas City and Omaha. In Grain Exhibit "K" your attention is called to the fact that the total farm value of the products of these five states for the crop of 1900 was $356,000,000, and for 1913 $565,591,000; while the value of the products of the four Northwestern states for 1913 is $441,090,000, compared with $97,690,000. This shows that the Northwestern states are increas$95,445,378 ing at a vastly greater rate in agricultural importance than is the case with the Southwestern states. The New Tariff, and Western Canada Grain Exhibit " L " sets forth the receipts of In Grain Exhibit "J" is set forth the production grain at St. Louis, Kansas City and Omaha, the of grain and flax in the three Northwestern Cana* three leading grain markets of the Southwest, at provinces of Manitoba, Saskatchewan and Al- 201,940,111 bushels, while receipts of grain at Minberta, according to the dominion census for the crop neapolis alone for the same crop year reached of 1913, the total being 472,109,000 bushels in the 206,812,670 bushels. In other words, Minneapolis, <*op of 1913. alone received more grain and flaxseed than all of the three Southwestern markets combined. t The production of grain in Western Canada is greasing yearly at a rapid rate. During 1913 Terminal Grain Storage about 1,750,000 bushels of grain and flaxseed were Grain Exhibit " M " sets forth the terminal elejeceived at Minneapolis from Western Canada, and vator stocks at Minneapolis and Duluth, as con™e duty paid, the value being about $1,000,000. trasted with the Southwestern terminals. On April recei ved since August 1, 1913, about 2, 1913, there was in store in the terminal elevators 00 bushels of grain and flaxseed in bond and at Minneapolis alone 24,426,000 bushels of grain and ise, with an estimated value of over $4,000,- flaxseed, and on the same date there was in store . If the duty of Canadian grain entering the at Duluth 26,102,000 bushels, a total of 50,528,000 ited States is removed, possibly one-fifth of the bushels in both markets. The grand total on these shipped to Fort William will be shipped to dates for the three Southwestern markets was 19,**0* a n d Duhith. Receipts at Port.William 261,000 bushels. In other words, Minneapolis alone, year 1913,would exceed 200,000,000 bush- or Duluth alone, had in store in their terminal eleoae-fifth of this amount should be diverted vators a very much larger quantity of grain than ' 13 a total value of $14,414,853. The oil cake manufactured at the same time equaled 432,445,590 pounds, with a value of $6,486,684, making a total value of the products of the linseed oil manufactured of $20,901,537. About 75 per cent of this oil cake was exported. The manufacture of ground screenings in Minneapolis is a growing industry, and the 1913 output was valued at about $500,000. Stock foods manufactured in Minneapolis during 1913 represent $1,000,000 in value, and the stock foods manufactured outside of Minneapolis, but financed in Minneapolis, represent $800,000 in value. Grain Exhibit "I" sets forth the importance of the malting and ground feed industries in Minneapolis, showing the total value of malt manufactured at Minneapolis during 1913 to have been $3,500,000, and of ground feed, $1,500,000. The manufacturing processes directly connected with the grain and flaxseed receipts at Minneapolis alone represent a grand total of $95,445,378 of output, the financial arrangements for all of these enterprises being arranged for at Minneapolis. These in order are made tip as follows: Flour manufacturing $68,043,841 Linseed oil and oil cake 20,901,537 Ground screenings 500,000 Stock foods 1,000,000 Ground feed 1,500,000 Malt 3,500,000 the total amount in store in the terminal elevators at St. Louis, Kansas City and Omaha combined, taking the greatest amount in store on any day in the y^ar for each of these three markets. Minneapolis has 50 terminal elevators with storage capacity of 38,550,000 bushels. Duluth and Superior combined have 34 elevators with a storage capacity of 32,275,000 bushels. Together, Minneapolis and Duluth-Superior have a joint terminal capacity of over 70,000,000 bushels. Terminal elevator capacity at St. Louis is 10,000,000 bushels; Kansas City, 11,235,000 bushels; Omaha, 6,575,000 bushels. In other words, the terminal elevator capacity of the three Southwestern grain markets combined is only 27,830,000, as compared with the terminal capacity of 38,550,000 bushels at Minneapolis alone. The flour milling capacity at Minneapolis is 77,160 barrels daily. The milling capacity of the flour mills at St. Louis, Kansas City and Omaha, combined, is 26,100 barrels daily, or about one-third of the capacity at Minneapolis alone. Grain Exhibit " N " sets forth the elevator and milling capacity of all the grain markets of any importance in the United States and Canada. One small flour mill of 500 barrels capacity .is located, at St. Paul. A few country flour mills are financed from St. Paul. Two very small elevators, with a capacity of about 40,000 bushels, are located at St. Paul, these elevators being of the size of the ordinary elevator located at a country station. St. Paul distributes more hay than Minneapolis, the receipts of hay at Minneapolis amounting to 37,870 tons, with a value of about $378,700; St. Paul receipts being 209,950 tons, with a value of $2,099,500. This one agricultural item, however, is relatively unimportant as compared with the agricultural data generally. Grain receipts at St. Paul for the year ending August 31,1913, amounted to 114 cars inspected at St. Paul. About 600 cars were forwarded from Minneapolis to St. Paul during this period. 14 Minneapolis and the "Midway." A switching yard, called the Minnesota Transfer, is located in the "Midway," strictly speaking within the city limits of St. Paul, but immediately adjacent to the eastern boundary of Minneapolis, and is ineluded within the Minneapolis switching district The linseed oil industries and the terminal elevator located at the Minnesota Transfer are operated from Minneapolis, and the offices of the linseed oil companies and the elevator company, whose properties are located at Minnesota Transfer, are with one exception located in Minneapolis, and all of the financial arrangements connected with their operation are made at Minneapolis. Finally, the enormous total capacity of the .agricultural products of the Northwest, taken into consideration with the commercial importance of the Northwest along many other lines, unquestionably entitles the Northwest to one of the reserve banks. The financial supremacy of Minneapolis over St. Paul, Duluth or any other city in the Northwest, is beyond question, and this is true in many lines, but in none other is this preeminence more striking than in the distribution of the agricultural products of the Northwest. The enormous quantity and value of grain which must be "carried" by the banks of the Northwest from the marketing period to the time of consumption, and the exceedingly great value of the output of flour mills, linseed oil mills, and other manufacturing industries connected with the movement of the agricultural product, all indicates Minneapolis as the city entitled from every standpoint to the location of a reserve bank; for the reason that ft is through this market place that the grain of the Northwest naturally flows. The grain distributed through the grain-market of Duluth must all be credited to Minneapolis, since the banks of Minneapolis are expected to furnish the funds necessary for the distribution of grain through that market place. GRAIN EXHIBIT "A*1 Government Crop Figures* KIND OF GRAIN Production Crop of 1900— Wheat Corn Oats Barley ........ Rye ••<••• Potatoes Buckwheat. MINNESOTA .... Total Hay, tons Total Hay, tons. Value 12/1 Production Value 12/1 $32,451,000 9,221,000 10,058,000 2,765,000 436,000 Bu. 13,176,000 381,000 6,300,000 1,999,000 84,000 $7,643,000 161,000 2,016,000 700,000 35,000 Bu. 20,150,000 32,149,000 12,654,000 1,544,000 28,000 $11,687,000 9,402,000 3,037,000 479,000 11,000 8,637,000 144,000 2,591,000 82,000 1,537,000 754,000 4,031,000 142,306,000 1,424,000 $67,604,000 9,893,000 23,477,000 248,000 $11,309,000 1,398,000 70,826,000 2,065,000 $12,707,000 $67,497,000 MONTANA Production TOTAL Value 12/1 Production Value Bu. 1,930,000 24,000 2,669,000 202,000 $1,178,000 15,000 1,079,000 97,000 Bu. 86,765,000 64,619,000 63,431,000 11,021,000 1,149,000 $52,959,000 18,799,000 16,190,000 4,041,000 482,000 1,452,000 641,000 340,000 14,846,000 144,000 5,137,000 82,000 $26,068,000 8,154,000 5,366,000 59,000 $2,709,000 5,139,000 241,975,000 3,796,000 $97,690,000 24,684,000 $34,222,000 $7,848,000 $122,274,000 $48,751,000 15,477,000 20,643,000 10,280,000 788,000 4,992,000 5,467,000 40,000 55,241,000 2,168,000 21,845,000 12,469,000 367,000 13,246,000 2,033,000 17,000 $34,802,000 911,000 6,772,000 4,489,000 168,000 10,729,000 976,000 9,000 47,253,000 41,619,000 27,268,000 10,657,000 705,000 3,906,000 2,887,000 $29,297,000 14,567,000 7,908,000 3,517,000 282,000 3,125,000 1,559,000 2,785,000 92,000 7,633,000 733,000 47,000 177,000 2,272,000 $1,838,000 57,000 2,637,000 426,000 30,000 107,000 1,000,000 175,932,000 $114,688,000 84,606,000 31,012,000 125,535,000 37,960,000 51,643,000 18,712,000 2,869,000 1,258,000 23,343,000 18,953,000 16,153,000 9,002,000 92,000 49,000 224,774,000 $106,438,000 10,443,000 1,580,000 107,386,000 178,000 $58,846,000 816,000 134,295,000 278,000 $60,255,000 1,285,000 13,639,000 698,000 $6,095,000 6,150,000 480,173,000 $231,634,000 2,734,000 18,694,000 $12,245,000 $250,328,000 70,653,000 40,727,000 68,889,000 27,784,000 1,750,000 6,014,000 8,961,000 75,000 $61,540,000 $59,662,000 $116,881,000 Total value Crop 1906— Wheat Production SOUTH DAKOTA Bu. 61,609,000 31,795,000 41,908,000 7,276,000 1,037,000 Total value Crop 1903— Wheat Corn Oata Barley Rye Fhixseed Potatoes Buckwheat...... Value 12/1 NORTH DAKOTA Oats Barley Rye Fiaxseed Potatoes Buckwheat 55,802,000 60,150,000 72,012,000 31,592,000 1,708,000 4,742,000 12,124,000 64,000 $36,272,000 17,051,000 19,444,000 11,057,000 854,000 4,884,000 4,486,000 35,000 77,896,000 4,170,000 40,170,000 15,816,000 434,000 14,511,000 2,467,000 $49,075,000 1,627,000 10,932,000 5,220,000 204,000 14,802,000 1,135,000 41,956,000 62,813,000 46,410,000 22,910,000 622,000 3,980,000 3,543,000 $25,593,000 18,268,000 11,603,000 7,332,000 280,000 3,980,000 1,240,000 3,298,000 94,000 8,502,000 473,000 42,000 299,000 2,144,000 $2,111,000 61,000 3,741,000 265,000 28,000 299,000 1,308,000 178,952,000 $113,051,000 117,227,000 36,955,000 167,410,000 45,720,000 70,791,000 23,874,000 2,806,000 1,366,000 23,532,000 23,965,000 20,278,000 8,169,000 64,000 35,000 Total Hay, tons 228,194,000 1,460,000 $94,083,000 8,027,000 155,780,000 258,000 $82,995,000 1,158,000 182,234,000 333,000 $68,244,000 1,495,000 14,852,000 692,000 $7,813,000 6,156,000 581,060,000 $253,135,000 2,743,000 16,836,000 $13,969,000 $269,971,000 Total value..... $102,110,000 $84,163,000 $69,739,000 (Table continued on next page) GRAIN EXHIBIT "A"—Continued Government Crop Figures. MINNESOTA KIND OF TRAIN Production Crop 1909— Wheat... Corn. Oats. Barlcv Rve Ffaxseed Potatoes Buckwheat Total Hay, tons Bu. 94,080,000 58,812,000 90,288,000 31,600,000 2,280,000 4,500,000 18,400,000 76,000 ... MONTANA Production Value 12/1 TOTAL Production Value $42,829,000 32,635,000 14,790,(KK) 8,960,000 341,000 8,516,000 2,520,000 Bu. 10,764,000 175,000 15,390,000 1,900,000 68,000 120,000 4,500,000 $9,364,000 150,000 6,464,000 1,107,000 44,000 192,000 2,295,000 Bu. 243,194,000 $226,011,000 130,302,000 64,928,000 198,778,000 69,223,000 74,137,000 33,922,000 3,394,000 2,025,000 24,489,000 37,798,000 31,300,000 13,235,000 76,000 54,000 32,907,000 995,000 $19,706,00p 9,950,000 705,070,000 $446,996,000 3,687,000 25,112,000 $29,656,000 $472,308,000 $138,029,000 $114,691,000 99,236,000 3,766,000 13,778,000 12,307,000 20,948,000 406,000 1,864,000 52,185,000 76,347,000 5,323,000 23,062,000 52,062,000 312,000 6,510,000 $36,008,000 28,248,000 6,016,000 9,686,000 13,098,000 162,000 2,344,000 19,346,000 612,000 5,520,000 1,424,000 22,848,000 235,000 6,105,000 $12,381,000 428,000 6,182,000 755,000 7,997,000 141,000 2,442,000 282,389,000 $196,663,000 162,894,000 61,367,000 27,050,000 30,920,000 101,666,000 39,975,000 293,062,000 73,205,000 7,437,000 3,722,000 62,346,000 15,911,000 126,000 82,000 353,513,000 $143,553,000 2,541,000 16,262,000 302,566,000 $152,305,000 2,805,000 510,000 216,509,000 672,000 $95,561,000 4,099,000 56,090,000 1,216,000 $30,326,000 10,093,000 928,678,000 $421,745,000 4,939,000 33,259,000 $159,815,000 $155,110,000 $40,419,000 $455,004,000 Total value Bu. 47,588,000 65,270,000 43,600,000 19,910,000 678,000 6,640,000 4,000,000 Value 12/1 $189,932,000 Total Hay, tons - Total value $83,501,000 3,325,000 16,368,000 8,913,000 272,000 22,340,000 1,980,000 Production 186,486,000 $110,601,000 4,100,000 804,000 67,038,000 78,177,000 4,121,000 42,018,000 122,932,000 6,026,000 33,075,000 126,000 Total Hay, tons* Bu. 90,762,000 6,045,000 49,600,000 20,727,000 478,000 14,229,000 4,400,000 Value 12/1 186,241,000 $136,699,000 200,000 1,330,000 Crop 1912— Wheat Corn... * Flaxseed. Barley Oats... Hye Potatoes Buckwheat. . $90,317,000 28,818,000 31,601,000 14,852,000 1,368,000 6,750,000 6,440,000 54,000 Production SOUTH DAKOTA 300,036,000 $180,200,000 1,622,000 9,732,000 Total value Crop 1913— Wheat Corn Oats Barley Rve Flaxsced Potatoes Buckwheat. Value 12/1 NORTH DAKOTA 48,938,000 28,925,000 4,945,000 17,227,000 31,162,000 3,013,000 9,261,000 82,000 143,820,000 8,758,000 12,086,000 35,162,000 95,220,000 864,000 6,656,000 $99,660,000 $57,564,000 5,616,000 17,348,000 10,200,000 810,000 8,712,000 2,836,000 33,175,000 67,320,000 42,135,000 16,765,000 660,000 3,060,000 . 4,680,000 $24,383,000 37,699,000 14,326,000 7,712,000 312,000 3,672,000 " 2,948,000 20,673,000 882,000 21,750,000 1,860,000 210,000 3,600,000 5,040,000 $19,346,000 679,000 6,960,000 893,000 116,000 4,140,000 3,377,000 199,983,000 $153,069,000 175,002,000 94,874,000 234,354,000 74,680,000 78,925,000 35,509,000 8,370,000 3,974,000 17,010,000 20,398,000 45,070,000 24,891,000 99,000 63,000 359,923,000 $177,809,000 16,434,000 2,490,000 187,080,000 $103,086,000 2,250,000 388,000 167,795,000 552,000 $91,052,000 3,588,000 44,016,000 1,188,000 $35,511,000 11,405,000 758,813,000 $407,458,000 33,677,000 4,618,000 $194,178,000 $105,366,000 $46,916,000 $441,090,000 67,280,000 96,000,000 112,644,000 34,800,000 5,700,000 3,150,000 30,250,000 99,000 $51,776,000 50,880,000 • 36,046,000 16,704,000 2,736,000 3,874,000 15,730,000 63,000 78,855,000 10,800,000 57,826,000 25,500,000 1,800,000 7,200,000 5,100,000 $94,640,000 GRAIN EXHIBIT "B." RECEIPTS AT MINNEAPOLIS BY CROP YEARS, WITH AVERAGE PRICE PER YEAR AND VALUES. WHEAT Bushels YEAR Aver. Price VALUE .70 .79 .77 1.14 1.00 .83 $57,373,120 67,259,913 71,435,672 115,785,992 125,498,420 44,995,000 CORN Bushels Aver. Price VALUE OATS Bushels Aver. Price .35 .45 .42 .63 .64 .62 $3,243,195 1,760,440 2,225,131 4,423,320 3,921,421 2,588,000 12,909,710 25,057,710 20,374,750 17,610,030 21,063,960 12,388,780 .24 .34 .30 .44 .41 .36 VALUE BARLEY Bushels $3,098,330 8,510,621 6,112,425 7,748,413 8,636,224 3,460,000 5,248,940 12,249,040 11,690,010 22,555,170 35,810,150 18,433,770 Aver. Price VALUE RYE Bushels $2,099,576 5,634,378 4,909,804 13,081,999 27,215,714 10,139,000 814,520 1,786,430 1,911,730 2,442,450 5,948,720 3,115,640 Aver. Price VALUE FLAXSEED Aver. Bushels Price VALUE TOTAL VALUES I 81,961,600 1900 85,139,130 1903 92,643,730 1906 101,566,660 1909 125,498,420 1912 4 M c s l 9 1 3 . . . 54,210,140 9,266,270 3,912,090 5,297,930 7,021,170 6,127,220 4,172,850 .40 .46 .42 .58 .76 .55 .50 .49 .57 .74 .74 .54 $407,260 875,351 1,089,686 1,807,413 4,402,793 1,683,000 7,180,060 8,216,970 10,162,240 9,251,180 12,363,200 5,078,450 1.59 1.05 1.13 1.63 1.89 1.40 $11,416,296 8,627,819 11,483,332 15,079,424 23,366,448 7,110,000 $77,637,777 92,677,522 97,256,050 157,926,581 193,041,020 69,975,000 GBAIN EXHIBIT "C." MINNEAPOLIS SHIPMENTS BY OBOP YEABS, WITH AVEBAGE PBIOE PEE YEAB AND VALUES. YEAR 1900.... 1903 1906 1909 1912 Part 1913 .' WHEAT Aver. Price VALUE CORN 10,096,970 17,153,160 20,828,130 ' 22,093,800 33,266,350 11,141,060 .72 .81 .79 1.16 1.02 .85 7,269,818 13,894,060 16,454,062 25,628,808 33,931,677 9,469,901 1,812,250 757,020 3,450,150 5,041,300 4,125,820 3,160,010 Aver. Price .37 .47 .44 .65 .66 .64 VALUE Aver. Price OATS 670,533 4,064,710 355,800 13,572,220 1,518,066 1 19,097,370 3,276,845 15,181,400 2,723,041 16,081,450 2,022,406 ' 10,050,370 .26 .36 .32 .46 .43 .38 BARLEY Bushels Aver. Price 3,672,810 8,727,850 10,661,310 20,556,790 33,297,570 • 14,823,530 .42 .48 VALUE 1,056,825 4,885,999 6,111,158 6,983,444 6,915,024 4,161,150 •U .60 .78 .57 VALUE RYE Bushels $1,542,580 4,189,368 4,690,976 12,334,074 25,972,105 8,449,412 533,260 1,115,860 1,710,110 1,460,260 4,089,340 2,142,060 Aver. Price .52 .51 .59 .76 .76 .56 VALUE $277,295 569,088 1,008,965 1,089,798 3,107,898 1,199,554 FLAXSEED Aver. Price Bushels 3,295,260 3,347,600 5,196,640 2,090,050 2,667,910 576,310 1.61 1.07 1.15 1.65 1.91 1.42 VALUE $5,303,759 3,581,932 5,976,136 3,448,583 5,095,708 818,360 TOTAL VALUE $16,120,810 27,476,247 35,759,363 52,761,552 77,745,453 26,120,783 Percentage Crop Marketed at Minneapolis: YEAR 1900 1903 1906 1909 1912 Crop Bushels Minneapolis Receipts Bushels 241,975,000 480,094,000 581,060,000 705,670,000 928,298,000 117,381,100 136,361,310 142,080,390 160,446,660 206,812,670 Percentage .485 .284 .244 .227 .222 RECEIPTS AT DULUTH BY CBOP YEABS, WITH AVEBAGE PBICE PEB YEAB AND VALUES. RECEIPTS AT DULUTH BY CBOP YEABS, WITH AVEBAGE PBICE PEB YEAB AND VALUES. YEAR 1900 1903 1906 1909 1912 Part 1913 WrHEAT Bushels Aver. Price VALUE 19,434,000 29,063,000 52,827,000 58,294,000 86,084,000 52,198,000 .70 .79 .77 1.14 1.00 .83 $13,603,800 22,959,770 40,676,790 66,455,160 86,084,000 43,324,340 CORN Bushels 6,489,000 12,000 129,000 920,000 446,867 73,000 Aver. Price VALUE OATS Bushels .35 .45 .42 .63 .64 .62 $2,271,150 5,400 54,180 579,600 286,000 45,260 1,637,000 4,940,000 4,608,000 8,167,000 9,340,000 4,349,000 Aver. Price VALUE BARLEY Bushels Aver. Price .24 .34 .30 .44 .41 .36 $392,880 1,679,600 1,382,400 3,593,480 3,829,400 1,565,640 2,452,000 6,754,000 10,450,000 12,757,000 14,600,000 9,363,000 .40 .46 .42 .58 .76 .55 Percentage. Crop Marketed at Minneapolis and Duluth: YEAR 1900 1903 1906 1909 1912 1913 CROP Bushels 227,129,000 463,941,000 564,907,000 674,370,000 875,952,000 713,743,000 DULUTH RECEIPTS Bushels 37,008,000 60,486,000 89,620,000 89,702,000 130,120,000 74,475,000 Percent- MINNEAPOLIS Percentage RECEIPTS age .163 .130 .159 .133 .149 .104 Bushels 117,381,100 136,361,310 142,080,390 160,446,660 206,812,670 515 298 254 •238 236 TOTAL Both Markets Bushels 150,389,100 196,847,310 231,700,390 250,148,660 336,932,670 Only four mos. Percent* age , .678 .428 .413 .373 .385 * VALUE RYE Bushels $980,800 3,106,840 4,389,000 7,399,060 11,096,000 5,149,650 759,000 932,000 654,000 738,000 2,339,000 953,000 Aver. Price .50 .49 .57 .74 .74 .54 VALUE $379,500 456,680 372,780 546,120 1,730,860 514,620 FLAXSEED Aver. Price Bushels 6,237,000 18,785,000 20,952,000 9,826,000 17,310,000 7,539,000 1.59 1.05 1.13 1.63 1.89 1.40 VALUE 9,916,830 19.724,050 23,675,760 16,016,380 32,715,900 10,554,600 TOTAL VALUES $27,544,960 47,932,540 70,550,910 94,589,800 135,742,160 61,154,110 GRAIN EXHIBIT " D . " Minneapolis Stocks By Months. DATE WHEAT VALUE Bu. 7,014,978 $5,962,700 August 31, 1913.. October 4, 1913. . 10,834,386 9,209,200 CORN VALUE OATS VALUE BARLEY RYE VALUE VALUE ' FLAX VALUE Bu. 16,826 $11,800 Bu. 1,777,606 $665,500 Bu. 129,953 $8Q,6Oo' Bu. 128,757 $78,500 Bu. 36,643 $53,500 37,617 24,800 3,124,089 1,124,700 768,055 483,900 374,072 213,200 j 68,574 96,700 i Nov. 1, 1913 14,450,972 11,999,300 18,140 11,200 3,355,890 1,174,600 1,155,489 670,200| 586,084 316,500 115,917 163,400 Dec. l t 1913 16,161,795 13,406,000 21,388 13,300 3,452,082 1,208,200 1,224,244 673,300 752,573 398,900 j 238,773 429,500 Jan. 1, 1914. 19,050,337 15,811,800 178,813 100,200 3,157,267 1,041,900 1,215,311 608,500 748,120 306,500 210,021 304,530 40,000 5G,000 1 P R I V A T E HOUS ES—Estim ated— Aug. 31, 1913 500,000 425,000 10,000 7,000 1,700,000 646,000 1,300,000 806,000^ 100,000 61,000 Oct. 1, 1 9 1 3 . . , . 800,000 680,000 20,000 13,200 3,100,000 1,116,700 700,000 441,000 200,000 114,000 ! 70,000 102,200 1,000,000 830,000 20,000 13,200 3,300,000 1,155,000 1,100,000 038,000 200,000 108,000 100,000 141,000 1,000,000 830,000 20,000 12,400 3,400,000 1,190,000 1,200,000 6(i0,000 300,000 159,000 150,000 201,500 1,500,000 1,245,000 80,000 45,000 3,100,000 1,023,000 1,200,000 060,000 300,000 159,000 150,000 217,500 Nov. 1, 1913.. Dec. 1 , 1 9 1 3 , . Jan. 1, 1914 . R E C A P I T U L A T ION— i Aug. 3 1 , 1 9 1 3 . . . . Oct. 1, 1913 Nov. 1, 1913 Dec, 1, 1913 Jan. 1, 1914 i $8,853,700 13,618,900 17,219,600 19,181,600 21,673,500 i 1 1 t GRAIN EXHIBIT " E . " Duluth Stocks By Months. DATE WHEAT i Aug. 31, 1 9 1 3 . . . . Oct. 4, 1913 \ VALUE Bu. 3,083,000 $2,520,550 9,391,000 CORN VALUE Bu. 7,794,530 OATS VALUE BARLEY Bu. 420,000 $168,000 Bu. 812,000 1,786,000 669,750 VALUE RYE $52,700 2,065,000 1,280,300 331,000 186,360 861,000 1,231,000 1,805,000 1,206,750 368,000 198,720 1,640,000 2,239,000 162,240 2,668,000 3,721,722 170,980 1,169,000 1,721,350 9,584,640 1,323,000 467,930 10,440,000 8,665,200 1,093,000 400,310 936,000 524,160 312,000 Jan. 1,1914 12,260,000 10,298,400 1,214,000 341,600 911,000 510,160 332,000 Aug. 31, 1913 Oct. 4, 1913 Nov. 1, 1913 Dec. 1, 1913 Jan. 1, 1914 VALUE Bu. 86,000 11,548,000 R E C A P I T U L A T ION AT D ULUTH— FLAX if $503,440; Dec, 1, 191? Nov. 1, 1913 VALUE Bu. 1,535,000 $2,241,000 RECAPITULATION OF TERMINALS MINNEAPOLIS A N D DULUTH $5,485,690 11,161,940 13,696,020 13,473,632 13,042,490 $14,339,390 24,780,840 30,915,620 32,655,232 34,715,990 RECAPITULATION MINNEAPOLIS A N D D U L U T H T E R M I N A L STOCKS A N D COUNTRY ELEVATOR STOCKS January 1,1914 Minneapolis Terminals Duluth Terminals Country Elevator Stocks $21,673,500.00 13,042,490,00 18,200,000.00 $52,915,990.00 GRAIN EXHIBIT " F , " Capacity of Country Elevators By States. Stocks County Elevators. ELEVATORS CAPACITY—Bushels Minnesota 1536 30,720,000 North Dakota 1883 37,660,000 1160 23,200,000 660 13,200,000 5239 104,780,000 South Dakota Montana Total As per statement in "Northwestern Miller", issue of Jmnuary 7, 1914, page 26 25,000,000 to 27,000,000 bushels—Value $18,200,000.00 GRAIN EXHIBIT "Chfl GBAIN EXHIBIT "J." CANADIAN CROPS VALUE OF FLOUR OUTPUT OF MINNEAPOLIS Barrels Year Average Price Per Barrel Estimate of Dominion Census Three Northwest Provinces: Value 1913 C r o p Wheat 189,116,000 bu. Oats 239,595,000 bu. 1900. 15,082,725 $3.08 $46,454,793 1903. 15,582,785 3.50 54,539,747 1906. 13,825,795 3.46 46,837,250 .1909. 14,867,245 4.93 73,295,517 1912. 17,031,935 4.46 75,960,230 1913. 17,673,725 3.85 68,043,841 472,109,000 bu. Receipts at Fort William and Port Arthur, crop year ending August 81,1913— EXPORTS 1900. 4,702,485 3.03 14,483,653 1903. 3,081,115 3.50 10,783,903 1906. 2,425,035 3.46 8,390,621 1909. 1,645,970 4.93 8,114,632 1912. 1,132,640 4.46 6,051,574 1913. 1,764,805 3.85 6,794,499 Barley 27,904,000 bu.. Rye Flax 686,000 bu. ' Wheat 14,808,000 bu. 107,230,690 bu. Oats 34,523,460 bu. Barley 9,857,206 bu. Flax 18,051,139 bu. 169,664,495 bu. 51 Country Mills with daily capacity of 40,865 barrels. These country mills average 62% active in 1913, making daily output 25,000 barrels. Yearly Output—7,500,000 barrels at $3.85 average price per barrel—$28,875,000. TOTAL OUTPUT MINNEAPOLIS MILLS AND COUNTRY MILLS TRIBUTARY TO MINNEAPOLIS 25,173,725 barrels at $3.85 average price per barrel— $96,918,841.00. GRAIN EXHIBIT " 3 " On Basis of 20% Fort William and Port Arthur Receipts— 21,440,140 bu. Value $18,229,219 Oats 6,904,690 bu. 2,623,782 Barley 1,971,840 bu. 1,123,948 Flax 3,610,230 bu. 5,126,526 Wheat LINSEED OIL 1913 216,222,794 lbs. at 6.666 cents per pound OIL CAKE -432,445,590 lbs. at 1.5 cents per pound $27,103,475 $14,414,853 Canadian Receipts at Duluth from August 1, 1913, to January 3,1914— ~6,486,684 $20,901,537 About 75 percent exported. GROUND SCREENINGS Capacity 134 tons per day. Value of output $500,000. Wheat 2,580,000 bu. at 87 $2,244,600 Oats 2,845,000 bu. at .40 1,138,000 Barley 694,000 bu. at ..59 409,460 Fiaxseed 250,000 bu. at 1.44 360,000 $4,152,060 STOCK FOODS Value of Output Outside plants $1,000,000. financed $800,000. Value 4 Ground Feed Mills, capacity Value of product Wheat Oats GRAIN EXHIBIT "I" Malting Capacity of Minneapolis Canadian Receipts at Minneapolis for calendar year 1913— 4,500,000 bu. $3,500,000. Barley Fiaxseed 78,080 bu. at .85 $66,368 1,314,000 bu. at .38 499,320 58,050 bu. at .51 30,088 277,290 bu. at 1.42 393,752 800,000 tona $1,500,000. $989,528 GRAIN EXHIBIT "K." Government Crop Reports. Southwest Tributary to Kansas City, St. Louis and Omaha. KIND OF GRAIN MISSOURI KANSAS NEBRASKA OKLAHOMA COLORADO TOTAL Production Value 12/1 Production Value 12/1 Production Value 12/1 Production Value 12/1 Production Value 12/1 Production Value 12/1 Crop Year 1900— Wheat Corn Oata Barley Rve Flax Potatoes Buckwheat.... Total Hay, tons Values.... Crop Year 1903— Bushels Bushels Bushels Bushels Bushels 18,847,000 $11,874,000 82,489,000 $45,369,000 24,802,000 $13,146,000 18,658,000 $9,889,000 80,711,000 57,828,000 63,871,000 52,439,000 210,431,000 65,234,000 14,145,000 3,678,000 24,696,000 5,680,000 43,064,000 9,905,000 37,779,000 9,067,000 15,000 7,000 4,187,000 1,382,000 582,000 197,000 135,000 1,923,000 827,000 69,000 868,000 347,000 10,107,000 32,000 3,538,000 22,000 7,247,000 3,479,000 9,665,000 83,000 Bushels 7,208,000 $4,253,000 152,004,000 $84,531,000 3,189,000 1,531,000 572,347,000 180,710,000 631,000 297,000 106,170,000 24,949,000 1,586,000 4,784,000 1,243,000 2,926,000 4,736,000 53,000 27,019,000 115,000 11,753,000 75,000 234,543,000 $79,018,000 302,781,000 $113,401,000 284,210,000 $92,780,000 32,803,000 $13,567,000 11,028,000 $6,081,000 865,365,000 $304,847,000 2,769,000 19,238,000 4,032,000 18,344,000 2,640,000 13,594,000 58,000 9,466,000 51,234,000 25,000 $98,256,000 $131,745,000 $106,374,000 $13,567,000 $6,139,000 $356,081,000 Wheat Corn Oats Barley Rve Flax Potatoes Buckwheat 22,195,000 $15,759,000 87,250,000 $51,478,000 42,158,000 $22,765,000 27,480,000 $17,432,000 202,840,000 68,966,000 171,687,000 61,808,000 172,380,000 48,267,00 76,822,000 29,613,000 17,402,000 7,804,000 59,427,000 16,046,000 14,564,000 5,019,000 5,569,000 26,012,000 34,000 1,492,000 1,705,000 563,000 18,000 4,388,000 280,000 590,000 2,229,000 825,000 154,000 1,341,000 67,000 34,666 347,000 891,000 704,000 189,000 162,000 291,000 555,000 452,000 5,741,000 4,185,000 3,557,000 5,159,000 3,353,000 1,635,000 1,330,000 4,363,000 34,000 36,000 28,000 18,000 13,000 26,000 Total Hay, tons 248,873,000 $95,146,000 295,700,000 $127,461,000 283,265,000 $91,994,000 121,123,000 $53,880,000 22,378,000 $12,864,000 971,429,000 $381,345,000 4,230,000 381,000 2,210,000 1,593,000 11,914,000 10,549,000 63,835,000 945,000 4,764,000 31,699,000 2,866,000 13,782,000 Values.... Crop Y e a r 1 9 0 6 — $126,845,000 $141,243,000 $96,222,000 $56,090,000 31,735,000 $21,263,000 81,831,000 $80,440,000 52,290,000 $50,172,000 21,544,000 $12,057,000 Wheat 228,523,000 86,839,000 195,075,000 62,424,000 249,783,000 72,437,000 134,231,000 41,039,000 Corn 14,686,000 7,682,000 72,275,000 18,792,000 19,487,000 5,754,000 4,847,000 24,780,000 Oats 165,000 1,042,000 467,000 40,000 2,785,000 3,360,000 20,000 8,437,000 Barley 24,000 878,000 42,000 285,000 514,000 1,995,000 171,000 1,027,000 Rye 134,000 142,000 263,000 470,000 244,000 533,000 Flax 3,825,000 1,824,000 1,412,000 7,160,000 4,701,000 7,355,000 4,081,000 6,715,000 Potatoes 8,000 13,000 28,000 17,000 20,000 23,000 Buckwheat.... Total Hay, tons Values 7,424,000 $4,890,000 186,507,000 $112,324,000 2,222,000 1,200,000 625,951,000 209,854,000 4,594,000 1,884,000 121,999,000 36,322,000 2,515,000 442,000 6,852,000 725,000 1,635,000 32,000 3,970,000 53,000 1,609,000 1,982,000 17,019,000 24,080,000 7,360,000 4,416,666 67,000 88,000 $24,778,000 $445,180,000 8,267,000 $5,374,000 195,667,000 $169,306,000 3,158,000 1,579,000 810,770,000 264,918,000 5,963,000 2,684,000 137,191,000 39,759,000 411,000 13,064,000 4,423,000 760,000 25,000 3,393,000 1,612,000 44,000 848,000 938,000 16,661,000 5,871,000 2,642,000 28,925,000 45,000 64,000 282,720,000 $117,485,000 318,421,000 $159,033,000 387,213,000 $147,288,000 177,595,000 $61,051,000 24,063,000 $12,715,000 1,190,012,000 $497,572,000 484,000 2,762,000 1,597,000 15,168,000 8,307,000 63,590,000 2,129,000 21,282,000 2,207,000 13,794,000 1,890,000 10,584,000 $138,767,000 $172,827,000 $157,872,000 (Continued on next page.) $63,813,000 $27,883,000 $561,162,000 GRAIN EXHIBIT "K."—Continued. KIND OF GRAIN MISSOURI KANSAS NEBRASKA OKLAHOMA COLORADO TOTAL Production Value 12/1 Production Value 12/1 Production Value 12/1 Production Value 12/1 Production Value 12/1 Production Value 12/1 Bushels Bushels Bushels Bushels Crop Year 1909— 28,562,000 $29,990,000 87,203,000 $83,715,000 49,650,000 $44,188,000 15,680,000 $15,837,000 Wheat 213,840,000 126,166,000154^82 Corn 54,282,000 83,225,000 194,060,000 97,030,000101,150,000 55,632,000 Oats 18,630,000 8,011,000 27,185,000 11,690,000 61,825,000 21,639,000 15,950,000 7,337,000 Barley 50,000 34,000 4,860,000 2,576,000 2,640,000 1,135,000 690,000 448,000 Rve 225,000 568,000 426,000 1,320,000 184,000 54,000 805,000 50,000 Flax 202,000 385,000 424,000 60,000 166,000 232,000 136,000 72,000 Potatoes 7,480,000 5,679,000 8,190,000 5,012,000 7,189,000 4,914,000 1,890,000 1,796,000 Buckwheat... 42,000 14,000 14,000 16,000 37,000 14,000 Bushels Bushels 10,758,000 $10,005,000 191,853,000 $183,735,000 3,267,000 2,287,000 666,542,000 364,397,000 7,448,000 3,947,000 131,038,000 52,624,000 618,000 9,176,000 936,000 4,811,000 64,000 2,255,000 88,000 1,529,000 783,000 894,000 10,400,000 5,928,000 35,149,000 23,329,000 72,000 65,000 Total.,.. 269,031,'000 $169,666,000 281,629,000 $187,806,000 317,837,000 $169,891,000135,474,000 $81,172,000 32,897,000 $22,849,000 1,036,868,000 $631,384,000 M Hay, tons 3,719,000 15,912,000 2,325,000 13,950,000 ~ 30,868,000 2,652,000 "' 810,000 5,913,000 1,760,000 17,600,000 11,266,000 84,243,000 Values.. $200,534,000 $203,718,000 $183,841,000 $87,085,000 $40,449,000 $715,627,000 Crop Year 1912— Wheat 23,750,000 $21,375,000 92,290,000 $68,295,000 55,052,000 $37,985,000 20,096,000 $15,072,000 10,968,000 $8,006,000 202,156,000 $150,733,000 Corn 243,904,000 112,196,000174,225,000 69,690,000 182,616,000 67t568,O0'OlOi;878;OOO 41,770,000 8,736,000 4,368,000 711,359,000 295,592,000 Oata 37,125,000 12,994,000 55,040,000 19,264,000 55,510,000 J6,653,000 23,494,000 7,988,000 12,412,000 4,717,000 183,581,000 61,616,000 4,358,000 Barley 160,000 80,000 2,964,000 1,482,000 9,895,000 1,654,000 2,486,000 1,044,000 149,000 98,000 4,136,000 1,305,000 268,000 2,115,000 488,000 48,000 42,000 324,000 880,000 Rye 222,000 493,000 178,000 477,000 625,000 496,000 120,000 9,000 12,000 96,000 Flax 390,000 19,000 24,000 72,000 79,000 300,000 56,000 64,000 12,000 18,000 16,000 Potatoes 28,000 16,000 30,000 4,190,000 9,440,000 4,814,000 1,740,000 1,618,000 8,075,000 3,311,000 32,975,000 19,439,000 Buckwheat... 7,980,000 5,506,000 5,740,000 Total.... 313,232,000 $152,454,000 332,224,000 $163,819,000 306,021,f000 $128,597,000 147,425,000 $66,582,000 43,739,000 $22,272,0001,142,641,000 $533,724,000 1,552,000 13,037,000 481,000 3,559,000 i,So5,ooo 16,574,000 8,081,000 73,771,000 Hay, tons 4,143,000 40,601,000 Values. $193,055,000 $163,819,000 $141,634,000 $70,141,000 Crop Year 1913— Wheat 39,586,000 $33,252,000 86,983,000 $68,717,000 62,325,000 $44,251,000 17,500,000 $14 ,350,000 Corn 129,062,000 95,506,000 23,424,000 18,271,000 114,150,000 74,198,000 52,250,000 37,620,000 Oats 26,500,000 11,925,000 34,320,000 15,444,000 59,625,000 22,658,000 18,540,000 8,343,000 50,000 876,000 63,000 1,069,000 1,760,000 Barley 66,000 1,944,000 110,000 41,000 1,044,000 48,000 472,000 1,740,000 630,000 180,000 240,000 Rye 59,000 54,000 348,000 300,000 58,000 50,000 Flax 16,000 20,000 8,000 10,000 19,000 22,000 Potatoes 4,418,000 1,920,000 2,016,000 2,657,000 5,654,000 3,004,000 2,920,000 3,230,000 Buckwheat... $38,846,000 $607,495,000 9,680,000 $7,551,000 216,074,000 $168,121,000 6,300,000 4,599,000 325,186,000 230,194,000 10,675,000 4,697,000 149,660,000 63,067,000 3,867,000 3,250,000 1,820,000 7,127,000 1,941,000 204,000 2,998,000 340,000 454,000 523,000 58,000 50,000 52,000 43,000 9,200,000 5,980,0^0 22,934,000 18,075,000 Total.... 198,800,000 $144,010,000 150,531,000 $106,986,000 245,338,000 $147,506,000 90,321,1,000 862,420,000 39,945,000 $24,909,000 724,485,000 $485,831,000 382,000 3,973,000 1,824,000 18,240,000 19,181,000 79,760,000 Hay, tons. 1,800,000 26,100,000 13,500,000 16,875,000 1,675,000 14,572,000 $565,591,000 $43,149,000 $66,393,000 $162,078,000 $170,110,000 $123,861,000 Values... GRAIN EXHIBIT "L." Southwest Receipts. Crop Year 1900 Crop Year 1903 Crop Year 1906 Crop Year 1909 Crop Year 1912 Bushels Bushels Bushels Bushels Bushels Wheat. 23,211,240 24,293,990 21,607,370 22,661,830 30,540,370 Corn... 23,748,360 18,743,270 37,385,670 24,398,370 25,979,030 Oats... 11,900,640 17,714,330 28,431,200 20,651,690 21,529,690 Barley. 1,926,750 3,108,000 2,623,000 2,130,090 1,760,250 Rye.... 543,460 1,023,310 499,830 289,590 186,270 Total. .. 61,330,450 64,882,900 90,547,070 70,131,570 79,996,610 Percent. .007 .068 .078 .069 .071 Wheat 24,018,400 39,169,900 36,617,700 43,527,700 43,719,600 Corn, 16,092,800 14,187,600 16,024,800 17,619,400 19,522,500 Oats 8,358,000 4,675,200 8,629,500 5,451,500 6,682,700 33,000 581,000 404,800 394,200 186,200 376,800 247,200 161,700 79,200 147,400 Total... 48,869,000 58,850,900 61,838,500 67,072,000 70,238,400 Percent. .058 .062 .054 .068 .063 Wheat. 3,587,500 9,981,600 9,544,800 16,868,800 Corn.., 8,834,740 18,493,200 23,475,000 20,536,800 Oats... 3,517,250 13,644,800 9,972,000 12,903,000 Barley. 178,800 38,000 693,000 1,192,000 Rye.... 316,000 140,000 195,700 183,700 Total... 16,433,290 42,597,600 43,880,500 51,685,100 Percent. .019 .038 .044 .048 St. Louis- Kansas City— Barley Rye Omaha— a* High Point Terminal Stocks. Date Point GRAIN EXHIBIT "ML" Contrasting Minneapolis and Duluth with Southwestern Terminals. Wheat Corn Oats Rye Barley Flax Total Bushels Bushels Bushels Bushels Bushels Bushels Bushels April 2,1913 Minneapolis 21,668,000 64,000 1,308,000 286,000 675,000 425,000 24,426,000 April 2,1913 Duluth 18,156,000 44,000 807,000 158,000 1,537,000 5,400,000 26,102,000 39,814,000 108,000 2,115,000 444,000 2,212,000 5,825,000 50,528,000 Total both markets Southwest Terminals: (Statement made by taking highest po int in each market, whe ther same d ate or not) Aug. 30, '13 Kansas City 8,881,000 118,000 746,000 Sept. 13, '13 Omaha 2,020,000 514,000 2,243,000 20,000 17,000 4,814,000 Jan. 11, '13 St. Louis 3,345,000 150,000 179,000 25,000 3,000 4,702,000 14,246,000 782,000 3,168,000 45,000 20,000 19,261,000 Total three markets 9,745,000 TERMINAL ELEVATOR CAPACITY AND MILLING CAPACITY. Points Capacity Bushels Elevators Mills Daily Capacity Barrels 24 77,160 Minneapolis 50 38,550,000 (D< es nc t include mill capacity.) Duluth and Superior. 24 32,275,000 3 7,000 St. Louis 36 10,020,000 4 7,500 Kansas City 38 11,235,000 (Includes mill capacity) 18 14,600 Omaha 12 2 4,000 6,575,000 COMPARISON Minneapolis Terminals 38,550,000 bushels. Southwest Terminals 27,830,000 bushels. &BAIN EXHIBIT "N." Elevator and Milling Capacity in Various Cities. Flour Mills Cities Minneapolis Daily Barrel Capacity No. of Elevators Capacity Bushels 24 77,160 50 38,550,000 Chicago 2 12,000 65 45,360,000 Duluth-Superior 3 7,000 24 32,275,000 Buffalo 7 20,300 22 18,900,000 New York 1 11,000 16 13,005,000 St. Louis 4 7,600 36 10,020,000 Kansas City 8 14,600 38 11,235,000 6 5,550,000 Baltimore Philadelphia 1,950 5 3,450,000 Milwaukee 3,800 4 1,500,000 Boston 3 2,500,000 New Orleans 6 4,700,000 2 2,750,000 Montreal 4 12,500 5 5,750,000 Detroit 2 1,800 8 3,515,000 Winnipeg 2 8,000 13 * 2,825,000 Cincinnati 3 1,500 5 1,200,000 15 25,700,000 1,400 5 4,000,000 Newport News t Fort William and Port Arthur. Galveston 1 Cleveland 1 1,500 10 1,912,000 8 5,000,000 5 8,000 Peoria. .*. 2 400 3 2,250,000 Omaha 2 4,000 12 6,575,000 Kenora and Keewatin, Ont 2 12,250 4 1,740,000 Toledo Includes mill elevators. GRAIN EXHIBIT " 0 . " SAINT PAUL Two Elevators, 40,000 bushels capacity. Hay Receipts, 209,950 tons at $10.00—$2,099,500.00. Gram Receipts, year ending August 31, 1913— 114 cars inspected. 600 cars forwarded from Minneapolis (estimated). Traffic of the Northwest Centers in Minneapolis Railroads, Comprising Nine Systems and Representing 48,591 Miles of Trackage in Operation, Bring 8,065 Communities Into Connection With Northwest's Largest City. Minneapolis, believing that its position as the traffic center of the Northwest, gives great weight to its argument for the location of the proposed federal reserve bank, submits the record of its traffic business for the past six years and invites analysis in support of its contention. Twenty-one states are traversed by Minneapolis railroads, representing* 4S,591 miles of rail actually in operation, and bringing 8,065 cities, towns and villages into direct connection with Minneapolis. In the last six years a total of 7,205 miles of rail has been added to the Minneapolis system, and the mileage added in 1913 was 502. Nine railroad systems are tributary to this field, comprising 24 lines serving Minneapolis. The mileage in the proposed Northwest federal reserve district is 35,846. The following statements are presented as significant of the traffic activities of Minneapolis: Statement No. 1 This is a monthly comparison of all traffic, expressed in car units, received and forwarded at Minneapolis during the years 1908 to 1913, inclusive. It includes only traffic destined to or-forwarded from Minneapolis proper. Inbound Traffic, 1908 Inbound Traffic, 1913 Increase during six-year period Percentage of increase Outbound Traffic, 1908 Outbound Traffic, 1913 Increase during six-year period Percentage of increase Percentage of increase all cars in United States, 1911 over 1908 Percentage of increase all tonnage in United States, 1911 over 1908 281,375 cars 362,740 cars 81,365 cars 29% 269,845 cars 344,654 cars 74,809 cars 28% Inbound shipments, 1908 f 416,660,066 lbs. Inbound shipments, 1913 ,482,485,923 lbs. Increase during six-year period. . . 165,825,857 lbs. Percentage of increase * vu'^ 16% Outbound shipments, 1908 810,893,278 lbs. Outbound shipments, 1913 1,092,663,991 lbs. Increase during six-year period. . .* 281,770,713 lbs. Percentage of increase 35%^J Percentage of increase in entire United States in 1911 over 1908 13% A reliable index of the importance of Minneapolis as a manufacturing center is the excess shown in outbound shipments over inbound shipments and the measure of industrial growth is expressed by the increase in the excess outbound shipments for 1913 over 1908. Excess of outbound shipments, 1908.. / 394,233,212 lbs. Excess of outbound shipments, 1913.. ."610,178,068 lbs. Increase in excess outbound ship-1? *%*$ ments ;215,944,856 lbs. Percentage of increase 55% The interstate commerce commission's r e p o r t of r a i l w a y statistics for y e a r ending June 30, 1911, shows: Total less-than-carload traffic of all roads2in the United States, tons '{36,519,321 Total tons received at Minneapolis during the £j ^ same period 240,802 Total tons forwarded from Minneapolis dur- 'fl ing the same period ^ f441,489 Total tons received and forwarded * 632,291 Percentage of total tonnage handled by all I j j ? ^ • roads in the United States " 1'.87% Statement No. 3 This is an analysis of Statement No. 1, showing distribution of inbound and outbound traffic by commodities, in 1913: 14% 11 % The last report of railway statistics published by the Interstate Commerce Commission is for the year ending June 30, 1911. It states these facts: Grain received at Minneapolis, in cars 154,208 Grain forwarded from Minneapolis, in cars 71,673 Grain milled at Minneapolis 82,735 Coal received at Minneapolis (40 tons per car) 32,905 Coal forwarded from Minneapolis (40 tons per 7 r per car) ^ 229 Coal consumed by Minneapolis industries. v .... r 32,676 Total cars received (Statement No. 1)..' '* 362,740 Cars of raw material used by Minneapolis manu facturing industries 115,411 Total cars received for local consumption o distribution -247,329 Total cars forwarded (Statement No. 1) ;344,654 Excess forwarded over received ^97^325 Percentage of excess Total loaded car miles on all railroads in the United States 12,859,386,385 Average haul 254.1 miles Total number of carloads handled by all roads in the year ending June 30, 1011 * .... 50,607,581 Cars received at Minneapolis during same period 311,315 Cars forwarded from Minneapolis, during same period 286,950 Total cars received and forwarded.. 598,265 Percentage of total cars handled by all roads in United States . . . . . . 1 18% Statement No. 2 This is a monthly comparison of all less-than-carload traffic, expressed in pounds, received and forwarded at Minneapolis during the years 1908 to 1913, inclusive: 15 Statement No. 3—Continued The Interstate Commerce Commission's report for the year ending June 30, 1911, shows that the total tonnage of grain and grain products handled by all roads in the United States, was... 56,181,741 tons That the total tonnage of grain and grain products received and forwarded at Minneapolis during the year 1911 was 7,846,473 tons That the percentage of total tonnage of grain and grain products handled by all roads in United States was 14 % That the flour forwarded from Minneapolis in 1908 totaled 14,062,655 bbls. That the flour forwarded from Minneapolis in 1913 totaled 18,254,260 bbla* The increase during six year period was 30% A comparison of the traffic business of Minneapolis and St. Paul for the year 1913 shows the following facts, as gathered from the reports of the traffic departments of the railroads carrying the business: Loaded freight cars forwarded and received by Minneapolis proper 763,519 Loaded freight cars forwarded and received by St. Paul proper 410,848 Minnesota Transfer Figures in Business of Minneapolis This City Entitled to Credit for Much of Commodity Traffic Passing Through Minnesota Transfer Now Included in St. Paul Figures. Properly to measure traffic activities in Minne* apolis and St. Paul one must understand conditions obtaining at Minnesota Transfer. This is a rail* road trackage within the corporate limits of St. Paul, but much of the traffic in and out of the transfer rightly is to be credited to JUinneapolis. To illustrate, a terminal elevator of 900,000 bushels capacity and two linseed oil mills of a joint capacity of 192,500 barrels of oil and 60,000 tons of oil cake located at Minnesota Transfer arc financed through Minneapolis banks; and the elevator and one of the linseed oil companies are operated from offices in Minneapolis. On the other hand, a large quantity of commodities routed from the east or south to points west of Minnesota in transit passes through the Transfer and gets credited in the St. Paul traffic totalIn the St. Paul commerce statement for the year ending October 31, 1913, all roads in and out of St. Paul are said to have received 4,934 cars of grain and seeds and to have forwarded 1,089 cars. Krst, the item of receipts will stand looking into. The Minnesota Transfer Company keeps count only of those receipts of grain and seeds that come di*ect from country points. Cars forwarded from Minneapolis are not in its report. The company's records show that for the twelve months ending October 31, 1913, there were received at Minnesota Transfer a total of 233 cars. Yet the St. Paul commerce statement gives 4,934 cars. The capacity tf the two linseed oil mills at Minnesota Transfer * about 2,037 cars of flax per year. This leaves 2 $>4 cars of grain and seed to be accounted for. State Figures Corroborate. Inspection figures for St. Paul as shown by the records of the State Railroad and Warehouse ComJjssion for the year ending August 31, 1913, show 1 14 cars (the number would be approximately the Same f o r the year ending October 31, 1913), which *ould leave 2,550 cars unaccounted for. Minneapolis, St. Paul and Duluth have been designated by the State Railroad and Warehouse Commission as being what are known as terminal points, under the statute governing the inspection of grain. Under this statute, all grain received at the terminal markets must be inspected by state grain inspectors. Then, if there were only 114 cars inspected by the state grain inspection department, there were only 114 cars received direct from country points at terminal of St. Paul, and the rest of this grain received at St. Paul must have been reconsigned from Minneapolis; and the financing of consigned from Minneapolis; and the financing not only of the balance of 2,550 cars, but also of the dustries at Minnesota Transfer, and also of the 233 cars which were received from the country by industries located at Minnesota Transfer, must have all been done by industries or business firms located at Minneapolis. On Grain and Seed Forwarded. This statement also shows 1,089 cars of grain forwarded. The record received from the Minnesota Transfer Company shows that during this same year there were forwarded from the Minnesota Transfer a total of 588 cars of grain. These cars of grain were practically all loaded out and forwarded from two elevators, whose offices are in Minneapolis, and whose business is all financed from Minneapolis. This leaves 501 cars of grain and seed unaccounted for, and this undoubtedly is grain billed from St. Paul to South St. Paul; that is, down to the South St. Paul stockyards, and is counted as a shipment from St. Paul. The application of Minnesota Transfer conditions to lumber and farm implement traffic is referred to the articles on these industries elsewhere in this brief. 17 Industrial Growth of Minneapolis Significant City Has Kept Pace With Tremendous Development of the Whole Northwest—Foremost in Field—Five-Year Advance in Permits for Manufacturing Buildings and Their Values. Industrially the growth of the Minneapolis-St. Paul district as a great primary manufacturing center has been proportionate to and coincident with the development of the whole Northwest. The raw material of the farms, forests and mines have here been converted into finished products. Demand for building material, farm implements and machinery in the territory immediately tributary to this district has been greater than that of any other section of the country comparable with it. Prom the Census Bureau reports are taken the percentages of growth during the ten-year period covered by the United States census in the number of establishments, capital, and value of products which are shown by Table " C . " Table " C " shows that the Minneapolis-St. Paul district ranks second among the thirteen metropolitan districts in percentage of increase in number of establishments, fifth in percentage of increase in capital and fourth in percentage of increase in value of products. TABLE "A." Increase in Value No. of Farms % % ImpleInc. Buildings Inc. 1900-1910 1900- ments 19001910 1900-1910 1910 Table " 0 " 1899-1909 .% Inc. 19001910 Total Minnesota. 1 No. Dakota! 334,355 1287,004,021 163.1 $80,518,061 134.1 $367,522,037 155.7 So'. Dakota f Montana.. j Per farm.. S241 $858 $1,099 Demand for all other articles of manufacture required by a rapidly growing district, such as furniture, clothing, machine shop and foundry products and food preparations has been on a scale equal to the demand for building material and farm machinery. Facilities for manufacture being at hand, this demand resulted in the establishment of a great manufacturing center. Table " B " following, compiled by the Census Bureau, shows the thirteen leading metropolitan industrial districts, in which the Minneapolis-St; Paul district ranks twelfth in value of products. Table " B " Manufactures, Population, and Area for Thirteen Selected Metropolitan Districts, 1910 Census New York Chicago Philadelphia... Pittsburgh Boston St. Louis Cleveland Buffalo.. . . Detroit Population Number Total Area in of Es- Number Acres tablish- Persons Capital ments Engaged 6,474,568 2,446,921 1,972,342 1,044,743 1,520,470 616,028 409,037 437,733 405,880 335,905 82S.733 197,993 613,270 303,174 488,601 132,413 500,982 00,554 Cincinnati. . . . £63,804 111,772 Baltimore 658,715 184,660 Mpls.-St. Paul 526,250 94,539 San FranciscoOakland.... 686.873 289,381 •Thousand* omitted. 31,782 10,202 9,568 2,309 5,389 Value of Product* SSH55 *?•!!«?? *WO,143 393,850 U44,OO3 1,408,780 358,218 863.96P 911,014 163,258 . 642,527 578,815 214,641 444,558 564,055 2,951 126,453 356,356 430,170 2,230 103,709 236,911 281,992 1,964 75,086 230,053 279,852 2,104 101,482 210,402 268,900 2,827 2,668 1,844 95,571 94,954 59,920 212,556 199,735 160,628 200,400 260,213 244,340 2,539 53,177 187,701 199,593 New York Chicago Philaaelnhia Pittsburgh Boston St. Louis Cleveland... . . . . . . Buffalo *Detroit.. Cincinnati Baltimore Minneapolis-St. Paul... San Francisco-Oakland.. No. of Establishments Capital Value of Products 35.8 27.3 14.1 36.7 7.7 6.3 68.0 19.8 72.6 97.6 64.6 58.8 66.9 106.9 126.1 168.1 83.0 62.5 51.3 37.1 59.4 79.5 98.6 137.9 -7.8 12.0 37.7 24.5 69.3 01.2 100.8 134.7 52.0 45.4 80.6 65.9 -Minus sign denotes decrease. •Details not shown in census. The "Twin City" Industrial District The Minneapolis-St. Paul metropolitan industrial district, as considered by the United States Cens^ Bureau, embraces 94,539 acres, of which 32,0$ acres represent the area of Minneapolis, 33,39" acres the area of St. Paul, and 29,080 acres the outside territory. Included in the Minneapolis-St. Fad district, in addition to the cities of Minneapolis B$ St. Paul, are the villages of Edina, and S t ha& Park in Hennepin county, and the cities of Souti St. Paul and West St. Paul in Dakota county. F°r some reason the Census Bureau has not include* Hopkins, sometimes known as West Minneapo& which lies within the limits defining a metropolitan district, viz., "within ten miles of the city limit*;1 It should have been included in the Minneapolis 18 St. Paul district Hopkins has several important industries owned and operated by Minneapolis capital, which arc essentially Minneapolis industries. Table " D " is a summary by the United States Census Bureau of the statistics of manufacturing industries in this metropolitan district. Table " D " District Minneapolis District Exclusive St. Paul of Minn<*inoli* and St. Paul 301,408 Population 71^ Number of ttt&blU 1.1C2 23,530 Penons engaged in tuAnufartrpj 992* Proprietor! <t 6rm member*: Salaried employer* S6.9G2 W*ce camera average N o . . . 3.5C Primary hortc power Capital Expenses 1 M.7&0.76 Services $11,915,336: I14.99P,7« Salaries tlO.S71.H0M *5^77,231 11,014,175' Wages 1277247*$ $15tG38.114| tl0ft5IfiO5 tZ7,724,7U7i tRftSI.fitttj / Materials ISIGC.W*l*$119,993,135 S30.2*. : Miscellaneous Value of products »0! $5S,W0,0W Value added by n 64619123,090,391 m anufacture., S 15,411,5«| 10,104 23 2.467 n **i Diversity of Minneapolis Industries. The abstract of the thirteenth census of the United States for 1910, on page 528, presents a comparative summary for the twenty-five principal industrial cities, which ranks Minneapolis fourteenth in value of products. St. Paul is not included among the twenty-five principal cities. Page 446 presents a summary for the fifty principal manufacturing cities. In this summary Minneapolis ranks again fourteenth, with a value of products amounting to $165,405,000, and St. Paul ranks fortyfirst, with a value of products amounting to $58 r 990,000. -SS7 1.967 3,763 7P4ra3 f,f£, Sl.GSI.393 56O S1.154.9SS $^50^7 For a number of years Minneapolis industries consisted largely of the manufacture of flour and lumber. "While the former has shown a steady growth, the latter has materially decreased, due to the dwindling forests. While the manufacture of H.4IUU flour is still the most important industry, the diverI Table " E " shows the percentage for Minneapolis sity of Minneapolis industries in the past ten years and St. Paul as compared with the total metropoli- has been most marked. Table " G " shows the pertan district. The preponderating excess of Minne- centage of increase in the capital invested in fifapolis over St. Paul in the important items of pop- teen important industries of Minneapolis covered ulation, number of establishments, wage earners, by the period from 1899 to 1909, as shown by the last federal census. horse power, and value of products is significant. Table " E " Table "G" Population Number of establishments raBOns engaged in manufactures... Proprietors and firm members.. Salaried employees Wage earners (average number) L — 67.3 59.8 66.6 60.6 59.6 55.9 ~' ' 40.8 39.0 39.3 38.8 35.5 40.1 22.0 37.6 23.4 38.9 37.2 39.5 18.2 37.2 24.1 37.0 Fifteen Important Industries of Minneapolis— Percentage of Increase in Capital Invested for Ten-year Period Covered by Last United States Census Copper, tin and sheet metal products 402% Patent medicines and compounds 396% ;:;:: Electrical machinery apparatus and supplies 383% Expenses.......!!!!!!!"!! Food products: Services ...!!!!!! Salaries !!!!! bakery products, bread, butter, cheese, conMaterials...! ] ! [ ]',[[ ] * [ densed milk, confectionery -.. 367% Miscellaneous..... Building material industry: value of products marble, brick, tile, stone and artificial value added by manufacture stone - 289% Table " F " exhibits in percentage the relation of Clothing, fur goods, hats and caps, e t c . . . . . . 229% Minneapolis to St. Paul in the manufacturing sta- Foundry and machine shop products 200% tistics presented in the foregoing Table " D . " Carriages, wagons and materials 153% Leather goods 172% Table " F " Percent Printing, publishing and engraving 89% Minneapolis Cars and general shop construction, repairs exceeds by steam railroad companies 77% 76% p~*** o f establishments.*-!!!!!!!!!!!!!!!!" 53^2 Cooperage and wooden goods 70% Prim°«nS e ^« a 8 e d i n manufacture 44.2 Furniture and refrigerators 40 5 &h0rsep0Wer ••••••• Flour and grist mill products 39% »iaPital 40 5 Lumber and timber products. 8% *alue of p r o d u c t s . . . . ] [ [ [ ' . ] [ ] [ [ [ ] * [[[[[[['.V. wue added by m a n u f a c t u r e . . . . . . i v 180*.4 58.3 19 The value of the building permits for some of the more important mill and factory buildings erected in Minneapolis since 1909 are classified as. shown in Table " I . " Minneapolis Compared with St. Paul the relative growth of Minneapolis and St. Paul since the United States census of 1909 has been maintained is shown by Table " H , " which gives the number of building permits and their values for mills, factories, manufacturing buildings and foundries erected in Minneapolis and St. Paul for each year from 1909 to 1913. These statistics were compiled from the official figures in the building inspector's office in each city. Table " H M Minneapolis 1910 1911 1912 1913 Total St. Paul No. Cost No. 79 55 62 47 $1,188,430 1,273,025 702,730 1,304,215 52 35 24 24 8495,820 317,800 224,650 938,300 $4,468,400 135 $1,976,570 233 Cost Total, four years, Minneapolis and St. Paul, $6,444,975. Minneapolis proportion v 69.32% St. Paul proportion 30.68% Table " I " Brewing Railroad shops Milling and malting Furniture Sheet metal Candy and crackers Knit goods Linseed oil Wagons Wheelbarrows Foundry and machine shop Show cases and store fixtures Paper mill Creamery Sash and doors Light and power plants Gasoline cars Electrical machinery and apparatus Automobiles 20 Total $114,500 679,000 288,600 74,000 22,000 297,000 250,000 50,000 55,000 40,000 174,000 19,000 15,000 80,000 59,500 615,000 200,000 165,000 400,000 $3,597,600 ADD "INDUSTRIAL" TABLE "J." 1910 Census To exhibit the comparative importance industrially of Minneapolis and St. Paul among cities in their class, the following table has been compiled from the thirteenth United States census. The nineteen cities selected, ranging in population from 150,000 to 400,000 are fairly indicative of the class in which Minneapolis and St. Paul belong, five hav- CITIES >pulation ing a greater population than Minneapolis and five a less population than St. Paul. In value of product, the basis used by the census bureau in ranking cities industrially, Minneapolis ranks third among these cities and St. Paul twelfth. In value of product per capita Minneapolis ranks second and St. Paul tenth. Number of Establishments Wage Earners Capital * Value of Product Value of Product Per Capita $535 363,591 2,184 60,192 $150,254 $194,516,000 347,469 1,858 59,955 154,233 202,512,000 583 339,075 848 17,186 56,934 78,794,000 232 Washington 331,069 518 7,707 30,553 25,289,000 76 Los Angeles 319,198 1,325 17,327 59,518 68,586,000 215 MINNEAPOLIS 301,40S 1,102 26,932 90,382 165,405,000 549 Jersey City 267,779 745 25,454 79,794 128,775,000 481 Kansas City 248,381 902 12,294 42,729 54,704,000 220 Seattle 237,194 751 11,331 46,472 50,569,000 213 Indianapolis 233,650 855 31,815 76,497 126,522,000 541 118,512 Cincinnati! Newark New Orleans '. Providence 224,326 1,080 46,381 120,241,000 536 Louisville 223,928 903 27,023 79,437 101,284,000 452 Rochester 218,149 1,203 39,108 95,708 112,676,000 517 ST. PAUL 214,744 719 19,339 60,467 58,990,000 275 Denver 213,381 766 12,058 47,534 51,538,000 242 Portland. 207,214 649 ,12,214 37,996 46,861,000 226 Columbus 181,511 586 16,428 48,747 49,032,000 270 Toledo 168,497 760 18,878 58,319 61,230,000 363 Atlanta 154,839 483 12,302 30,878 33,038,000 213 1,820 46,271 150,849 224,395,000 435 TWIN CITIES.. 516,152 •000 omitted. 21 TABLE "K." The building operations during the period from 1909 to 1913, in the nineteen cities referred to in the foregoing table are shown by Table " L . " In building operations for the past five years Miime* apolis ranks second and S t Paul sixth, VALUE OF BUILDING OPERATIONS CITIES Population 1913 1911 1912 1910 1909 Total Newark 363,591 $8,348,432 $8,962,214 $13,481,320 $8,022,915] $7v794,529J$46,609,410] * 10,975,334 13,394,812 347,469] New Orleans 339,075 4,087,261 Washington 331,069 8,396,701 21,768,483 Cincinnati Per Capita $128 5,165,176] 20,353,865 60 Los Angeles 319,198 31,641,921 31,367,995] 23,002,885 21,684,100 MINNEAPOLIS. 301,403 12,857,9351 14,229,475 13,735,285 14,363,830 13,092,410 08,278,935 226 Jersey City 267,779 Kansas City 248,331 10,578,162 12,396,338 13,313,031 13,783,196| 13,368,738 63,444,465 Seattle 237,194 9,321,115 8,415,325 7,491,076 17,166,368 19,044,218 61,438,465 259 Indianapolis 233,650 9,361,973 9,150,40' 8,349,327 8,197,311 7,156,560 42,215,578 180 Providence 224,326 Louisville 223,928 4,054,180 6,552,770 6,207,972 3,690,442 3,172,311 23,677,676 106 Rochester 218,149 9,642,124] 12,035,466 9,389,775 10,082,528. 9,272,132 50,422,025 231 ST. PAUL 214,744 9,441,221 8,151,417 8,915,008 10,052,892 12,089,451 48,649,989 226 Denver 213,381 2,797,148 5,332,67; 6,084,260 11,319,935 11,554,983 37,089,001 174 14,652,071 19,144,940 20,679,072 13,470,280] 80,904,178 390 3,496,326] 3,129,143 Portland 207,214' 12,956,91 Columbus 181,511 5,508,400 Toledo 168,497 5,986,079) 5,321,790 Atlanta 154,839 5,112,944 4,675,303 3,722,536 22 255 3,598,601 23,512,377 130 4,162,934| 3,044,408] 22,237,747 132 4,668,245] 5,061,828 9,987,4441 6,192,461 * Figures not available. 4,475,959 7,405,939 Postoffice receipts for 1912 of nineteen cities ranging in population from 150,000 to 400,000 are shown in Table " M . " Minneapolis ranks fourth in per capita postoffice receipts for 1912. TABLE " L . " Postoffice Receipts, 1912 Cincinnati Newark New Orleans Washington Los Angeles Minneapolis Jersey City Kansas City Seattle Indianapolis •. $2,621,186.90 1,243,487.72 1,132,408.19 1,739,664.73 1,906,418.91 2,150,195.00 599,416.34 2,496,411.24 1,049,503.72 1,386,108.39 Per Capita $6.76 3.36 3.22 507 4 93 2*j2 9'38 3^8 5.61 , 889,707.84 1,124,362.85 1,170,475.56 1,278,597.77 1,258,253.92 1,108,474.46 947,126.87 819,255.20 1,260,195.29 Providence Louisville Rochester s t . Paul Denver Portland Columbus Toledo Atlanta Per Capita 3.78 4.90 5.07 5.91 5.46 4.72 4.88 4.63. 7.45 Table " N " following, shows the postofBce receipts of Minneapolis and St. Paul from, the year 1850 to 1913. TABLE " M / 1850. I860. 1870. 1880. 1890. 1900. 1901. 1902 1903 1904 Minneapolis $2,122.56 20,940.83 81,993.43 346,834.53 695,988.31 811,381.69 961,003.65 1,070,900.00 1,189,572.00 St. Paul $429.07 5,254.47 23,437.66 102,450.22 317,666.97 521,366.56 541,198.76 626,445.40 703,830.16 733,830.16 1905 1906 1907 1908 1909 1910 1911. • 1912 1913 23 Minneapolis 1,306,676.00 1,452,440.00 1,547,154.00 1,576,082.00 1,739,611.00 1,968,715.00 2,000,490.00 2,150,195.00 2,395,281.08 StPaul 757,416.23 823,663.25 1,002,474.39 1,026,961.13 1,093,396.90 1,186,140.14 1,206,334.19 1,278,597.77 1,479,751.19 TABLE Minneapolis in 1880 ranked fourteenth in populaTable "0" following, exhibits the growth in population of all the cities shown by the 1910 census tion among these cities and in 1910 ranked sixth. which have a population between 150,000 and 400,- St. Paul in 1880 ranked fifteenth and in 1910 000, also the population of the same cities in 1900, ranked fourteenth. 1890 and 1880. ^____ CITIES Population Population Increase 1900 Increase 1910 Voof Population Increase %of Population 1SSO-1910 18S0 Increase 1890 255,139 42.5 33.2 136,508 154.5 56.7 Cincinnati 363,591 11.6 325,902 9.8 296,908 16.4 Newark, N. J 347,469 41.2 246,070 35.3 181,830 New Orleans, La... 339,075 81.8 287,104 18.6 242,039 12.0 216,090 Washington, D. C. 331,069 18.8 278,718 28.0 230,392 29.7 177,624 S6.4 Los Angeles........ 319,198 211.5 102,479 103.4 50,395 350.6 11,183 2,758.8 MINNEAPOLIS.. 301,408 48.7 202,718 23.1 164,738 251.4 46,887 542.S Jersey City 267,779 29.7 206,433 26.6 163,003 35.0 120,722 121.8 Knasas City 248,381 51.7 163,752 23.4 132,716 137.9 55,785 345.2 Seattle 237,194 194.0 80,671 88.3 42,837 1,112.5 3,533 6,613.7 . 211.3 Indianapolis 233,650 38.1 169,164 60.4 105,436 40.5 75,056 Providence 244,326 27.8 175,597 32.9 ' 132,146 26.0 104,857 113.9 Louisville 223,928 9.4 204,731 27.1 161,129 30.2 123,758 80.9 Rochester 218,149 34.2 162,608 21.4 133,890 49.8 89,366 144.1 ST. PAUL 214,744 31.7 163,065 22.5 133,156 221.1 41,473 417.8 Denver 213,381 59.4 133,859 25.4 106,713 199.5 35,629 498.9 Portland 207,214 129.2 90,426 94.9 46,385 163.9 17,577 1,078.9 Columbus 181,511 44.6 125,560 42.4 88,150 70.7 51,647 251.4 Toledo 168,497- 27.8 131,822 61^9 81,434 62.4 50,137 236.1 Atlanta 154,839 72.3 89,872 37.1 63,533 75.2 37,409 313.8 TWIN CITIES.. 516,152 41.1 365,783 22.8 297.894 237.1 88.360 484.1 In 1880 Minneapolis, with a population of 46,887, ranked thirty-seventh, and St. Paul, with a population of 41,473, ranked forty-fourth among all the cities in the United States. The census of 1910 shows Minneapolis as ranking eighteenth, with a population of 301,408, and St. Paul, with a pop* lation of 214,744, ranked twenty-sixth among all cities. Table " P , " compiled from the official records in Hennepin and Ramsey counties, indicates the relative importance of Minneapolis and St. Paul as a center for conducting industrial and commercial operations. This table exhibits the number of ne* incorporations and capital stock formed during ft* past three years, which have their principal place of business in each city. TABLE "O." Minneapolis— 1911 1912 1913 Total No. of New Incorporations Capital Stock 476 478 424 $60,804,200 74,325,600 64,314,000 1,378 $189,443,800 St. Paul— 1911 1912 1913..... Total 24 No. of New Incorporations Capital Stoci 156 138 107 $13,323,000 18,492,000 15,716,550 401 $47,531,550 Minneapolis is the Jobbing Center of the Northwest Traffic Records Prove Minnesota Metropolis Easily Leads in Wholesale Merchandising—Forwarded and Received Total of 225, Cars in 1913 to St. Paul's 156,197. Minneapolis, always pre-eminent in manufacturing, is also the greatest jobbing center in the Northwest. As the wholesale business is the chief activity of St. Paul, mauy have assumed that this business exceeded in volume that of Minneapolis, but the contrary is the case. In R. G. Dun & Co. 's reference book for January, 1914, there are, eliminating manufacturers' agents, brokers and real estate dealers, 6,025 names for Minneapolis and 3,918 for St. Paul. For purposes of comparison, let these names be divided into four classes—manufacturers, jobbers, retailers and miscellaneous. Under the head of manufacturers group all names that actually produce merchandise, from cigars to threshing machines. Under jobbers, group all that sell to others than actual consumers. Under retailers group all that sell to actual consumers. Then the fourth class will comprise all names in such lines as hotels, contractors of all kinds, warehouses, billiard rooms, etc. Showing of Classification This classification will show that there are 1,004 manufacturers in Minneapolis and 396 in St. Paul; 1,129 jobbers in Minneapolis and 402 in St. Paulj 3,389 in the retail business in Minneapolis, and 2,79S in St. Paul and, under the head of miscelalneous, 503 in Minneapolis and 322 in St. Paul v If a line be drawn from the Sault Ste. Marie canal to Los Angeles, all the towns north of that line will 25 be found to be nearer ^linneapolis and St. Paul than Chicago. This would indicate the territory that is tributary to Minneapolis and St. Paul and should be one of the considerations in determining where the reserve banks should be located. In all the territory included in this immense tract, jobbers of Minneapolis and St. Paul are doing business. As this country is developing rapidly, the jobbing business will keep pace. These facts point the natural place for the location of a reserve bank to best serve this territory. What Railroad Figures Show Considering the large amount of agricultural implement business and the business of lumber and lumber products for which Minneapolis has always been noted, it will be conceded that carload shipments by wholesalers from Minneapolis are very much larger than from St. Paul. The number of cars of merchandise only forwarded from Minneapolis in 1913 was 160,000. The toal number forwarded and received in the year was 225,021. The number of cars of merchandise only forwarded from St. Paul last year was 85,000, while the total mimber of cars forwarded and received was 156,197. These figures prove conclusively the supremacy of Minneapolis over St. Paul in the jobbing field. The figures are taken from reports furnished by the traffic departments of the various railroads concerned. Lumber Industry Centralized in Minneapolis Market Producing Annually 1,500,000,000 Feet of Pine, Fir and Larch—25 Mills Doing AH Their Banking in Minneapolis—Pacific Coast and Spokane Mills Financed. Minneapolis Has 54 Line Yard Firms, Operating 1,294 Yards* Lumber manufacture was one of the first indus- kota and Montana are members of the Retail Lumtries of Minneapolis and, the city's prestige has ber Dealers' Association, the headquarters of which steadily grown and is greater now than ever. In- are in Minneapolis. St. Paul has none. The insurstead of half a dozen mills in Minneapolis, cutting ance feature that is so important is handled entirely logs and producing large quantities of lumber an- from Minneapolis, and Minneapolis is headquarters nually, the character of the Minneapolis market has of the mutual company in which retail yards insure. The St. Paul traffic statement shows receipts of dhanged. There are today several hundred firms located in Minneapolis and engaged in the various 18,768 cars of lumber, with shipments of 9,354 cars. branches of the lumber trade. The city not only The last wholesale lumber firm moved from St. figures predominantly in the Northwest lumber dis- Paul to Minneapolis about three years ago. The tributing trade, but it is the center to which the in- St. Paul lumber statement is made up from business dustry as it spreads throughout the Northwest originating outside. looks for its financing. The standing of the two cities in this relation is shown in this comparison: Minneapolis Concerns that do their banking in Minneapolis 25 Large manufacturers in the United States maintaining sales offices in Minneapolis.. All Line yard companies with Minneapolis headquarters 54 Number of retail yards owned and financed. 1,294 Post, pole and cedar companies financed 8 Material for the woodworking industries that are located here comes from a wide territory. Oak and yellow pine come from the south; spruce and pine from the west, birch from "Wisconsin, pine from Minnesota, mahogany, Circassian walnut and other important woods from all parts of the world. The sash and door and interior finishing industry of Minneapolis makes an important part of the city's manufacturing exhibit, elsewhere set forth in detail. In considering the lumber trade, the employment of labor in the industry or its allied lines and the intimate manner in which, through the retail trade, the business touches the agricultural communities the contrast with St. Paul is striking. Ninety per cent of the retail lumber dealers of Wisconsin, Iowa, Minnesota, North and South Da- St. Paul Concerns that do their banking in St. Paul.. 1 Large manufacturers in United States maintaining sales offices in St. Paul None Line yard companies with St. Paul head. quarters 3 Number of retail yards owned and financed. 50 Post, pole and cedar companies financed... • None A great deal of the lumber is cut at points in Northwestern Montana, Idaho and Washington, and in being brought in over the Northern Pacific Bailway and Great Northern Railway, is billed through to points east of Minneapolis and St. Paul, and naturally would be billed via the Minnesota Trans* fer for switching to the eastern line. For instance, a car of lumber billed from Eureka, Mont., on 'the Great Northern Railway, to Aurora, 111., would be billed in care of the Chicago, Burlington & Quincy Railway at Minnesota Transfer. St. Paul's traffic statement counts as receipts the lumber received on through billing at Minnesota Transfer. To this St Paul is not entitled, as practically all this business i? done by lumber companies whose oflices are & Minneapolis. 26 Implement Trade of Minneapolis is $40,000,000 Factories, 27; Wholesalers, 40; Factory Agencies, 14. Annual Shipments of Farm Implements, Machinery, Wagons, Vehicles and Binding Twine, 298,360 Tons, or 24,861 Carloads. Minneapolis is predominant in the business of supplying the Northwest with its needs in agricultural implements and machinery, and this tonnage, together with wagons, vehicles and binding twine sold by Minneapolis wholesalers and manufacturers, on the basis of twelve-ton carlots, which is considered by traffic authorities a fair average for weight, made a total in 1913, of 298,360 tons, pr 24,. S61 carloads. The annual sales of the Minneapolis firms engaged in the business amounts to $40,000,000. This is a conservative statement, and if anything is an underestimate. Minneapolis is so generally recognized as the essential point from which the Northwest trade field must be carried on that there are 81 firms in the business here. All the country that lies north and west and a considerable portion in an area all the Northwest is covered by the trade. The business enters into the industrial activities of the city through the 27 factories that are located here. These are the plants: American Grain Separator Minneapolis Threshing MaCo. chine Co. Bull Tractor Co. Minnesota Rubber Co. Cleland Manufacturing Co. Monitor Drill Co. Diamond Iron Works. Xey Manufacturing Co. Dodson Fisher, Brockmann Nott W. S., Co. Owens, J. L.f Co. Co. Glide Road Machinery Co, Puffer-Hubbard ManufactHowell,R.R., &co. uring Co. imperial Machinery Co. Russell Grader ManufactKeller Manufacturing Co. uring Co. Kinnard-Haines Co. Strite Governer Pulley Co. Unhart Wagon Co. Town si ey Manufacturing Loye Saddlery Co. Co., M. Martin Manufacturing Co. Twin City Separator Co. Minneapolis Separator Co. Emerson-Brantlngbam Co., Minneapolis Steel & MaBig Pour Tractor. chinery Co. Case Plow Works J. I. Challenge Co. Clark & Son, Geo. A. Crane Co. Dean Co., A. J. Deere & Webber Co. Dov/nes Co., P. J. Emerson-Brantingham Implement Co. Fairbanks, Morse & Co. Hart-Parr Co. Herschel-Roth Manufacturing Co. Huber Manufacturing Co. Huber Bros. Manufacturing Co. Hudson & Thurber Co. International Harvester Co. of America. La Crosse Implement Co. Lindsay Bros. Minneapolis Iron Store*Co. Minnesota Moline Plow Co. , Nichols & Shepard Co. Northern Rock Island Plow Co. Northwestern Wind Engine Co. Parlin & Orendorff Plow Co. of Minneapolis. Planter Rubber Co. Port Huron Machinery Co. Power Equipment Co. Rosenthal Corn Husker Co. Rumely Co., M. Studsbaker Bros. Co. of Minnesota, Waterbury Implement & Storage Co. Williams Hardware Co. Wood Bros. Thresher Co. Wagner-Langemo Co. The third division of the business is made up of factories located elsewhere that maintain selling offices and carry transfer stocks here. They are : Clapperton, J. H. Dodgo Manufacturing Co. Fuller & Johnson Manufacturing Co. Hayes Pump & Planter Co. Hooven & Allison Co. Iowa Dairy Supply Co. Janesville Manufacturing Co. Madison Plow Co. Manson-Campbell Co. xU Maytag Co., The. Sharpies Separator Co. Stoughton Wagon Co. Thomas Manufacturing Co. Wisconsin Carriage Co. There are no comparisons to be made with St. Paul in this connection. No business of this nature in volume sufficient to warrant any consideration is done in St. Paul. Minneapolis is the farm machinery and implement center. . There is a feature about the business that is like that in the lumber trade, in that there is a quantity of agricultural machinery and implement ship* There are 40 wholesalers located in Minneapolis. ments that annually goes forward from factories •Uese are distributing houses for machinery and located eastward or southward, to points in North implements manufactured in the Mississippi Valley Dakota, South Dakota, Montana or the farther west, ^ factories and elsewhere. Through these firms^Min- that in transit passes through the Minnesota Transweapons is brought into toudTwith the ^ c u l t u r a l f er> located between Minneapolis and St. Paul, but country in intimate degree. These are the firms within the corporate limits of St. Paul, that aplocated in Minneapolis that are 'engaged in the P &ar s in the figures that show the annual traffic of that city. wholesale trade: ^ Harvesting Machine Avery Co. Practically all the agricultural implement busiCo. Bratrud Co. The. ness of the entire Northwest is financed from MinAppleton Manufacturing Co. Butler Manufacturing Co. neapolis, except in the case where shipments are Aultman & Taylor Machin- Case Threshing Machine ery Co. made from eastern factories direct. Co., J. I. 27 Minneapolis' Fruit and Produce Trade is Extensive Trade Volume in the City Itself Passed §35,000,000 in 1913—Total in Field Served from Ontario to Montana Runs Into Huge Figures— Branch Houses in 28 Places. In the territory from eastern Ontario to Montana and south to northern Iowa and Nebraska, Minneapolis wholesale fruit and produce firms have established and are maintaining thirty-three branch or associate houses in twenty-eight cities, doing a volume of business that mounts annually to many millions. This business is financed almost entirely through Minneapolis and it recognizes Minneapolis as its center of operation. It reaches out beyond the district commonly known as the Northwest and ineludes portions of northern Michigan and southern Ontario in its scope. These branch or associate houses are located in the following cities, a figure after a name indicating the number of houses in that city, when more than one: Aberdeen, S. D. Albert Lea, Minn. Brainerd, Minn. Bismarck, N. D. Bemidji, Minn* Duluth, Minn. (3) Des Moines, Iowa. Fort William, Ontario. Fergus Falls, Minn. Fort Dodge, Iowa. Lincoln, Neb. Minot, N. D. Mason City, Iowa. Moberly, Mo. Mankato, Minn. (2) Marshalltown, Iowa* Miles City, Mont. Oelwein, Iowa. Port Arthur, Ont. Pipestone, Minn, Bochester, Minn. St. Paul, Minn. (3) Sault Ste. Marie, Ont. Superior, Wis. Sault Ste. Marie, Mich* St. Cloud, Minn* Virginia, Minn. Watertown, S* D. Volume of Business in Minneapolis In Minneapolis itself the volume of business in the wholesale produce and fruit line in 1913 is estimated to have passed $35,000,000. Figures obtained from records of forty-eight houses gave a total of $31,224,060.19 for the year's business. To this it is fair to add $5,000,000 as an estimate from houses from which figures could not be obtained in time for this computation. This estimated total of $36,224,090.19 does not cover the poultry, butter, egg and cheese business done by the meat packers; it does not cover carlot shipments of the Minneapolis Gardeners' Association which were in excess of 4,000 cars last year. Minneapolis has a regular storage capacity for fruit and produce of 1,281 cars. This is to be increased this spring by 500 cars by construction now under way. It carried last year in storage 'a total of 3,021 cars.» The 1913 distribution was as follows: Butter, 30,311 packages or 2,234,217 pounds, having a cost value of $558,554.25. Eggs, 136,581 cases, of a cost value of $779,511.70. Poultry, 313,213 pounds, of a cost value of $46,981.95. Cheese, 29,754 packages or 1,811,685 pounds, of a cost value of $36,232.70. Apples, 61,257 barrels, 87,696 boxes. Meats, 456,102 pounds. Potato Business from 126 Stations Regular carlot dealers in potatoes shipped out 15,288 cars last year, totaling 7,308,400 bushels, and in excess of 300 cars of onions and cabbages. In the following 126 places, buying stations and warehouses are maintained by one or more dealers, with banking accounts in local banks of a $200 xninimuto. Many of the more prominent stations are covered by three to five houses. Chisago City, Minn. Anoka, Minn. Clarissa, Minn. Albertville, Minn. Custer, Wis. Amherst, Wis. Coifax, Wis. Aldrich, Minn. Crivitz, Wis. Amberg, Wis. Clayton, Wis. Athelstine, Minn. Canton, Wis. Askov, Minn. Cedar, Minn. Bethel, Minn. Detroit, Minn. Braham, Minn. Dale, Wis. Barnesville, ^Cnn. Dancy, Wis. Becker, Minn. Dayton, Minn. Brickton, Minn. Deer Creek, Minn. Browerville, Minn. Elk River, Minn. Brainerd, Minn. Eagle Bend, Minn. Bloomer, Wis. Elk Mound, Wis. Boyceville, Wis. Ellis Junction, Wis. Big Lake, Minn. Enfield, Minn. Barnham, Minn. Earl, Wis. Cambridge, Minn. Forest Lake, Minn. Clear Lake, Minn. 28 Foreston, Ltinn. Foley, Minn. Felton, Minn. Forada, Minn. Frederic, Wis. Granby, Minn. Glyndon, Minn. Grantsburg, Wis. Glenwood City, Minn. Grasston, Minn. Harris, Minn. Henrietta, Minn. Hawley, Minn. Hammel, N. D. Hugo, Minn. Isanti, Minn. Junction City, Wis. Little Falls, Minn. Lyle, Minn. Luck, Wis. Pelican Rapids, Minn. Pequot, Minn. Pound, Wis. Long Prairie, Minn. Long Siding, Minn. Lindstrom, Minn. Lake Elmo, Minn. Lovells, Minn. Marinette, Wis. Monong, Wis. Markville, Minn. Miinor, N. D. Milaca, Minn. North Branch, Minn. Nielsville, Minn. New Auburn, Wis. New Brighton, Minn. Ossco, Minn. Ogilvie, Minn. Princeton, Minn. Park Rapids, AKna. Pine River, Minn. Poskin Lake, Wis. Pillager, Minn. Perham, Minn. Rush City, Minn. Rock Creek, Minn. Rogers, Minn. Rosemount, Minn. Rices, Minn. Royalton, Minn. Rice Lake, Wis. Saxik Centre, Minn. Shafer, Minn. St. Cloud, Minn. Sebeka, Minn. Staples, Minn. Stevens Point, Wis. Shell Lake, Wis. Scandia, Minn. 29 St. Charles, Minn. Stillwater, Minn. Sauk Rapids, Minn. Stacy, Minn. Trego, Wis. Turtle Lake, Wis. Ulen, Minn. Verndale, Minn. AVyoming, Minn. Wolverton, Minn. Withrow, Minn. Wadena, Minn. Willow River, Minn. Webster, Wis. Wausaukee, Wis. Weyerhauser, Wis. Wheeler, Wis. Wilson, Minn. Wonewoc, Wis. Zimmerman, Minn. Improvements Keep Pace With Growth in Population Expenditures in 1913 for Permanent City V/crk Were $3,500,000—Net Bonded Indebtedness is Only 6.8 Per Cent of 10 Per Cent limit of Assessment Valuation Prescribed By Law—Comparison With S t Paul. Sewers, total number of miles at close of: To keep pace with the growth of Minneapolis in population, industrially and commercially large expenditures have been necessary in the past few years to provide for permanent city improvements, such as bridges, pavement, sewer, water, sidewalks, etc. The expenditure up to 1913 has been $48,000,000 on corporate property, and during the year 1913 practically $3,500,000 was spent on permanent improvements. The following table shows corporate property and value in 1900 and 1912: Corporate Property (Cost) 1900 1912 School sites and buildings $2,940,100 $6,584,400 Parks and parkways 4,587,300 6,895,900 Public library 351,600 491,800 2,159,200 Bridges 1,447,500 Water works 4,370,800 8,359,400 Sewer system .. t 4,491,600 8,362,600 Curb and gutters 721,900 1,405,800 Paving 1,761,800 5,756,000 All other 2,574,400 7,977,500 1010 1911 1912 1910 1911 1912 1910.; 1911 1912 $114,184,375 125,281,180 126,286,238 48 49 46 $197,036,479 198,910,208 213,398,439 70 80 88 292 305 318 276 342 350 364 430 533 549 564 755 759 143 144 146 145 162 178 1,816 1,723 1,735 2,418 Sidewalks, total number of miles at close of: 1910 1911 1912 Miles of street car railway tracks: 3910 1911 1912 Notwithstanding such heavy expenditures, the net bonded indebtedness of the city amounts to only 6.8 per cent of the 10 per cent limit of assessed valuation allowed hy law. With $4,000,000 in the sinking fund and the accretions thereto from the annual levy of one mill for this fund, all bonds will be provided for at maturity. 1910 1911 1912 Paving,* total number of miles at close of: Minneapolis Water mains, total number of miles at close of: $23,247,000 $47,992,600 Three Years' Improvements Compared Actual work on permanent improvements during the years 1910, 1911 and 1912 in Minneapolis compared with St. Paul is exhibited in the following table: Assessed valuation: St. Paul Minneapolis St. Paul Number of sewer connections made each year: 1910 1911 1912 Number of water connections made each year: 1910 1911 1912 Number of street lights maintained during 1912: Electric arc lamps Ornamental cluster posts Gas lamps Gasoline Total 30 1,832 1,657 1,573 1,150 321 4,604 1,287 7,362 3,613 Chart I mSTRIIUTION OF MS9 ACCOUNTS CARRIED BY 0UT8IDB HANKS IN MINNEAPOLIS BANKS • • • • . - . •^f^;:>.--* 1 ; ••> v ^ l | : ; CHART I. Geographical Representation of Inter-Banking Relations of Minneapolis and Outside Points. Chart I shows by a map-distribution of dots, the geographical location of 3.329 Northwestern banks carrying reserve and exchange ^ ^ " ^ ^ ^ h ^ ^ ^ y ^ ^ The location of these a^ociated banks clearly indica?e> the ipherc of financial influence of Minneapolis; namely, Minnesota, North Dakota, South Dakota, Montana, T ^ K S s °off M l n ^ i J T a n k r a s ^ f / a n u a r y 15th. 1914. showed 1.4,6 balances carried on account of Minnesota correspondents 925 balances « - £ " - £ * 343 South Dakota accounts. 161 Montana accounts. 214 Wisconsin accounts. 118 Iowa accounts, 32 Washington accounts and 120 accounts in other states. North Dak °ta Chart II fitjt] [JS2ZJISS2U USllJ IHSEJ i Illflfillflfl Development of Banking Power of Minneapolis and St. Paul as Indicated by Growth of Capital and S«rplus of National Banks, 1872-1913. Chart II. Represents the development of banking power as indicated by the combined capital and surplus Attention is especially directed to the volume and rapidity of surplus accumulations during recent years, i 2 i b M e rate is apparent. The increase for eleven years is over !S per cent CAP/TAI Anp SURPLUS Cavort** 1904- 1905 1906 1907 1908 1909 1910 1911 I9IZ 19/3 2 Banking Power of Minneapolis and St. Paul Contrasted. Growth of Capital and Surplus, 1904 to 1913. Chart III represents the surpassing growth of Minneapolis over St. Paul in Banking Power as indicated by the accumulation of Bank Capital and Surplus. ^ ^ . ^ Since 1904, all banks of St. Paul have increased their capital and surplus from about $6,000,000 to $9,655,000, or 60 per cent Minneapolis banks entered the period with eight and a half millions of primary funds, which has since grown to $16,800,000—an increase for ten years of about 100 per cent. This amount represents a net banking power 70 per cent greater than that of St. Paul, and a rate of growth for the decade 67 per cent greater than that of St. Paul. Chart IV t OOO 0 J3Z,O7O.O73 /Bo GROWTH &F Cons>OLtosrr£D //VD/V/DU/VL* DJEJ=>O$/T& /So J872 - /3/3 OF no It0,000, OOO) ioo Oo. O, 5& 000,000 OOO, DEPOStTS fo p 60 t 40 7o. 000,000 Bs/f/C BALANCES HELD 60,000,000 000.000 40,000, 00 o 3o ZO 2O, oocz, 000 — « — — ncapolis and S t Paul. A mere in 1872 of http://fraser.stlouisfed.org/ per cent in thirteen'years. Federal Reserve Bank of St. Louis 00,000 individual deposits was gradually augmented to 1 = r _f whiVh nearlv $12,000,000 was balance carried on account of associated country banks. $23,000,000 to nearly $80,000,000, an advance of 25 per cent. Bank balances have a ^ 3 S t f a i a n c e s £ national banks consequently amounts toriearly$100,000,000^ growth of about 300 ^ Relative Banking Activities of Minneapolis and St. Paul as Indicated by Amount and Growth of Total Deposits in All Banks, 1904-1913. Chart V, representing total bank deposits of Minneapolis and St. Paul, respectively, indicates the relative volume and growth of banking activities in the two cities from 1904 to 1913. During the ten-year period, St. Paul deposits increased from about $30,000,000 to $52,000,000 (73 per cent). ; Minneapolis beginning the period with $48,000,000 (57 per cent) excess over St. Paul, now holds $101,500,000 deposits. This shows an increase for the period of 112 per* cent, or a rate of growth 54 per cent faster than that of St. Paul. Upon this basis the relative status of Minneapolis banks to that of St. Paul banks is as 196 to 100. Chart VI J?£f>&£S£t/r/iTtoN or DEPOSITS mo B/JHK BALANCES MOTION*L MINNEAPOLIS ANO See Table 3 Historical Representation of Development of Banking Activities, National Banks, Minneapolis and S t Paul. Chart £ represents by historical curves the growth of individual deposits in national banks, and of bank balances carried for outside banks by the national banks of Minneapolis and S t Paul, respectively, during years, ending 1913. py, g the forty-three y ifton ^ h e finan?ial superiority of St. Paul over Minneapolis during the early part of the period is cvidenced# both in the matter of individual deposits and bank balances, prior to ioyu. At that time the banking connections of Minneapolis became so extensive as to cause balances of outside banks carried in that city to exceed those handled in St. PauL The individual deposits of Minneapolis outgrew those of St. Paul in 1906, and since that time have increased by $45,000,000, while the increase for St. Paul banks is some- CHART V I I MATIOMAL BANKS.STATE BANKS SAVINGS BANKS %TRUST COMPANIES MINNEAPOLIS «-5T PAUL-1912 NATIONAL DEPOSITS BAMS CAPITAL «» S U R P L U S 5TATE DEPOSITS ' BANK5 CAPITAL ^ SAVINGS BAMK5 TRUST (COMPANIES SURPLUS DEPOSITS RESOURCES CAPITAL ^ 890iZ,0ZI SURPLUS SEETABLE Composite Representation of Financial Strength of Banking Institutions of Minneapolis and St PauL Chart VII presents in graphic form the totals of significant items in a combined financial statement of all Minneapolis banking institutions, as of latest available record. Also the percentage proportion of each total which is attributed to the banking houses of respective cities. ,' • -. A. * * . * If the resulting percentages be combined and arranged, thus forming index numbers indicative of financial strength and activity, the result is Minneapolis 741 St. Paul 251. 15 Chart VIII CAPITAL AT1D SURPLUS ar/7/tf/t£. .. 1111111111 Composite and Comparative Development of MinneapoUs and S t Paul as Indicated by Growth of Capital and Surplus of National Banks, 1872-Hw. Chart VIII compares and summarizes the accumulation of capital and surplus by the national banks of Minneapolis and St. Paul for forty-two years ending 1913. The development of banking power during this* period is especially significant in two respects, namely, the change in relative importance as between St. Paul and Minneapolis since 1892, and the rapid rate of accumulation in the years following 1902. «„.«,. . .. . »,. ,. T ^t. s • A net increase of over 160 Der cent is shown for the last eleven years, of which 104 per cent—about $9,000,000 is properly accredited to Minneapolis. In other words, in eleven years ^ { f a ^ S ^ l ^ ^ o f l f S S ? e » S r f f a b»Te added to their capital and surplus an amount almost equal to the present total capital and surplus of the nattonal banks of St. Paul Chart IX 11111111 ! 11 Composite and Comparative Developments of Banking Activities of Minneapolis and St. Paul, as Indicated by Growth of Individual Deposits and Bank Balances Held by National Banks, 1872-1913. Chart IX compares and summarizes individual deposits and bank balances held by national banks of Minneapolis and St. Paul, by years from 1872 to 1913. The financial activities of St. Paul in earlier years are evidenced by a preponderance of deposits and balances indicated below the index line until l«yy is reached, in that year, an extension of Minneapolis banking activities is indicated by a volume of bank balances exceeding that of St. Paul, and in 1907 individual deposits in Minneapolis national banks exceeded those of St. Paul by $5,000,000. Since that time, although a healthy development is evidenced for St. Paul, the relative growth of Minneapolis is noteworthy. For the year just closed individual deposits and bank balances of Minneapolis national banks stand at $45,000,000 and $35,000,000 respectively, as compared with $35,000,000 and $17,000,000 for St. Paul. Expressed in percentage growth since 1900, when the two cities were practically equal as to combined deposits of individual banks, Minneapolis increased by almost 400 per cent and St. Paul by a little more than 200 per cent. Minneapolis has increased in individual deposits by nearly 350 per cent, bt. Faul by ^uu per cent. Minneapolis has increased bank balances by 500 per cerft, St. Paul by 200 per cent. This last item is significant as a criterion of the outside banking relations of the two cities, and is especially indicative of the importance of Minneapolis as a banking center. Chart X MUNDRBD M/LUON DOLLARS'* KAM5A ' CITY- •2. 50,3a. FF2ANCISC 5T.P/ LULJ 7/////Ay////yy/ NEW OR LEAKS >.87.3 BANK CLEARINGS CoMPARftflV£ ^IINE WESTERN AND SOUTHERN QTIES-1^13 ATLANTA «7iL5 44,857,448 407.OZI SPOICANE HUNDRED MILLION VOLLARS See Table 4 Comparative Representation of Financial and Commercial Activities o! Nine Western and Southern Cities Indicated by Bank Clearings for 1913, Chart X affords a comparative representation of the bank clearings of nine foremost Western and Southern cites: Kansas City, San Francisco, Minneapolis, St. Paul, New Orleans, Atlanta, Denver and Spokane. % -Bank• clearings - • • P taken •• m as the most significant criterion of the volume of commercial and financial activities in any community. u r u . - -* • t. * may be As among the nine cities named, med Kansas City appears to occupy first place in volume of clearings. However, the contrast of Kansas Lity with other members of the group is not as significant as might first appear, because of the fact that country collections are included > Kansas. City clearings, while they are not so includedL in> the clearings o f * * " cities. place among the nine cities. The combined clearings clearings of Minneapolis amount to two and a In so far as geographical half times those of St. Paul Chart XI txa /t30O IfOQ YEARLY CLEARINGS MINNEAPOLIS SST.PAUL 1884-1913 IOCS — Jjoo ipoo 900 SOL ,8OO roc 700 50Q 500 400 doc 300 m4' £00 - . ZOO too too 18&41885 188& 88718$8 f889 WO t89f ffla (893 18941895 f&h 8971898 Z899 (9001101 19Ot1903 (904 (9O5190b 1907 /9O319O9191019K 19It 1913 The Course of Bank Clearings by Years: Minneapolis and.St. Paul, 1884 to 1913. Chart X I represents the relative development of financial and commercial activities in the cities of Minneapolis and St. Paul as In u Jgg curves of respective bank clearings during the period of thirty years, each beginning in 1884 with annual clearings amounting to about ' The growth of bank clearings has advanced to $530,500,000 for St. Paul and to $1,312,500,000 for Minneapolis, making a total of $1,843,W0,000. • . . While it is to be observed that the bank clearings of St. Paul have grown steadily throughout the period, it is noteworthy that the financial activities of Minneapolis, as indicated by the curve of clearings, has advanced much more rapidly since 1894 and, during the last three years the increase has approximated 26 per cent, while St. Paul has practically remained at a standstill. DANK CLEARINGS >5TP*UL ffOf ~-£t / / / . A \"i'/ \ \ \ / \ \ \ \^ % T -V /9e>9 /r/s -J H See Table .2e 1 3 ^ *"* Comparison of Financial Activities of Nine Western and Southern Cities^as Indicated by Annual Course of Bank Clearings During Last Five Years. The Course of Clearing^ for Each Year is Shown in Its Percentage Relation to the Previous Year. Chart XII contrasts the annual movement of Bank Clearings for five years in each of the nine important cities of the south and west: Minneapolis, San Francisco, Kansas City, Seattle, New Orleans, Spokane, St. Paul and Denver, and Minneapolis and St. Paul combined Bank clearings may properly be accepted as a significant criterion of current business activities and especially of banking operations. It should be observed, also, that in the cities here shown bank clearings are not inflated by speculative stock market transactions as in certain eastern cities. Excepting San Francisco, Minneapolis makes by far the best showing of the group, and Minneapolis and St. Paul averaged together excel all individual cities throughout the period, excepting San Francisco and Minneapolis. The apparent superiority of San Francisco is traceable to the prosperity" of "that city, probably due to reconstruction activities continuing during the year 1911, when all other localities, save New Orleans, experienced a severe depression in business. A significant feature of the San Francisco curve resides in the 10 per cent decline for the year 1913. During this last year, only three of the nine cities sustained their own rate of advance evidenced in 1912, viz.: Minneapolis, Kansas City and Seattle, having respective growths of 11 per cent, 5 per cent and 10 per cent. However, the relative decline of St. Paul is more than compensated for by the advance of Minneapolis, the combined showing being an advance of 4£ per cent. Incidentally, the tendency, otherwise apparent, of financial activities of the Northwest is centralize in Minneapolis rather than in St. Paul, is here shown. The relatively negative showing of Denver as to growth of financial activities, revealed by bank clearings, affords striking comparison with all other centers. Because of the fact that country collections are included in Kansas City clearings and are not so included in the clearings of other cities, the relative showing of Kansas City is properly subject to a measure of discount if* - COURSE of BANK CLEARINGS " E I G H T C I T I E S . Ftvc YEARS Wt*-t9t3 5 ft 1 or Z tt fi SPOKANE — _ DENVER SEATTLE SANFa^NCtsco- — . NEW ORLEANS KANSAS CtTY ST. PAUL MINNEAPOLIS m=M=m=m 1911 o g" x 1*3 SEE TUBUL 1 3 Relative Bank Clearings of Nine Leading Western and Southern Cities. Five Years by Index Numbers. Chart XIII supplements and "checks" the accuracy of Chart XII in representing the course of business activities centering in the more important cities of the south and west, excepting St. Louis. St. Louis is excepted from the group because of influences affecting clearings arising from the financial relations of St. Louis as a central reserve city, and not necessarily significant of natural and indigenous commercial attributes. In this chart the movement for each year is expressed in percentage terms of their respective clearings for 1909. The favorable position of Minneapolis and San Francisco, as shown by Chart XII, is here substantiated, and the superior acceleration of Minneapolis clearings in comparison with each member of the group for the last two years is apparent. Chart XIV DISTRIBUTION sf TorAL FARM CROP VALUES S* STATES. (Census'S / r/c- Geographical Distribution of Farm Crop Values. It U t J re P r <^'»ts the di>tril»ution of crop values throughout the ^ j " t e d ^J* t e ' , Minneapolis are constituted of large sized farms, the main products of which seek a cash market. than may appear from the gross values shown upon the map which makes no distinction between the values of the Northwest Digitized for i isFRASER to be observed that the states whose commercial and financial a c m m e ' . . * ' . , ffrf>attr which ? 2 « » » « e M importance of crop production in this section, theretore. M cons derat ly r w e http://fraser.stlouisfed.org/ Utl1 act «a»y enter the markets and the produce of the more populous and less commercial areas. Federal Reserve Bank of St. Louis Chart XV Otptrtmtnt of COIIWMK*. Bufwu of th. C«-UUJ. Wheat Producing Areas of the United States. a r t K t_ ^ XV represents graphically the predominance of the Northwestern States in the production of the principal food crop of the nation, as indicated °y the United States census figures. ,. The movement of the wheat rea during recent years indicates a rapid advance in the volume of wheat produced in Canadian districts immeQiately north of Minnesota and North Dakota. Economically speaking, this section of Canada will probably become and remain tributary to the wheat markets of Minneapolis, Chart XVI Thirteenth Census of the United States: 1910. Department of Commerce, 3ureau of theCantus* BARLEY PRODUCTION IN 1909 (To follow p n o TWO No-3. The Barley Producing Area of the United States. Chart XVI shows that, excepting Southeast Wisconsin, almost the total barley crop of the United States is grown within the area financially and commercially associated with Minneapolis markets. Chart XVII Thirteenth Census of the United States: 191 Or Department of Commerce, Bureau of the Census, V A * 9 f a 9 X t C 9 4S3S1*. <T© follow p«te 734.) No. 10. CHART XVII. The Flax Produdng Area of the United States. Chart XVII shows that almost the entire flax crop of the nation is grown withia the three atatea: Minnesota, North and South Dakota. Chart XVIII •« of tM C«Mu^ tVrtwrtH C m ^ ot Ww Unlp4 Suit**: l The Stock-Food Producing Area of the United States* mountains, re stock, so rapid as to make it a significant consideration in matters pertaining to the organization of financial and commercial institutions. Thirteenth Centut of ft* United Stattt: 1910, Chart XIX -Dtptrtmtnt Of Commerct, Burwd or tfi» itniut. EXPENDITURES OF FARMERS FOR LABOR IN 1909 The Farm Wage Bill. Chart XIX indicates the relatively large payment of wages for farm labor. This becomes especially significant as explained on page — when taken in connection with the seasonal demand for labor and the relatively short period of employment, the nature of crops produced, and the relatively high wage Chart XX ffiff? /9OO ere s 48. Iffio Annual Volume of Six Main Farm Crops, Oats, Wheat, Corn, Barley, Potatoes and Rye, in Four States: Minnesota, North Dakota, South Dakota and Montana, 1900-1912. Chart XX reveals an advance in volume of the six main crops of the four states commercially tributary to the Minneapolis market from 240,000,000 bushels in 1900, to900,000,000 bushels in 1912. The production of wheat, the main staple product of this region, shows a steady increase during the period. The rapid increase of oats is noteworthy, as is also the growing importance of the corn crop. Chart XXI See Tables 7 and 8 Relative Advance of Agricultural Production in Minnesota, North Dakota, South Dakota and Montana, Compared with Agricultural Production in the United States, and with Growth of Population, During a Period of Thirty-three Years. Chart XXI graphically contrasts the increase in the volume of farm crops of the states of Minnesota, North Dakota, South Dakota and Montana, with the contemporary Production of like crops in the United States considered as a whole, and with the growth of population dependent upon the food resources of the country. Taking 1890as the base year, it is observed that the index of population has increased, since 1880, by sixty points, approximately 60 per cent g™Wthesmcvmo& r/nT Cr °ps advanced disregarding annual fluctuations, by about 80 per cent, while the farm output of the four states above mentioned advanced from —54 to 337, almost 400 per cent. with th# This showing is particularly significant as a criterion of the growing importance of the Northwest as a surplus-food producing area and taken in connection conne pment of storage, milling and commercial facilities in Minneapolis, becomes equally significant of the importance of that city as a national financial center., Atosrr*s*A / •S£L+tOT* J / J ffs* /9P0-/9/2 Ait Jr*r*j fitosr mrtftfSt **#**. Tmn &rr 9 See Table 6 Receipts of All Grains, Northern and Southern Markets Compared. Chart XXII contrasts the development of main lines of agricultural production in four states, Minnesota, North Dakota, South Dakota and Montana, tributary to Minneapolis markets with combined contemporary production of five 6tates, Missouri, Nebraska, Kansas, Colorado and Oklahoma, tributary to Omaha, Kansas City and St. Louis. Circle A shows by black and crossed-hatched segments the relative importance of the Northern and Southern groups of states, respectively, for 1900. It is observed that the showing of the North against the South is as 61 per cent is to 23 per cent of the total United States crop. Circle B shows a marked change in relative importance of North and South for 1912, the respective shares in the national product being 15 per cent and 19 per cent. The absolute crop increases are shown by the larger areas represented in Circle B. If the corparison be made in terms of the total of principal agricultural products west of the Mississippi River, the showing of the North against the South is as 121 per cent to 44* per cent for 1900, indicated in circle C; and, for 1912, 27 per cent for the North as against 241 per cent for the South. If, now, attention be directed to the representation of respective rates of increase sustained by the Northern and Southern states and by the entire United States, as shown in the lower lefthand section of the chart, it appears that the crop of 1912 exceeded that of 1900 by 591 per cent for the United States, 32 per cent for the Southern states and 2721 per cent for the Northern states. If again, consideration be given to the relative volume of principal farm crops, excluding corn; the above mentioned Northern states produced 11 per cent of the United States total in 1900, as against 26 per cent for the South, and, in 1912, four Northern states produced 26 per cent of the total crop as against 15 per cent grown by the five states lying to the south. Of the crop west of the Mississippi, again excluding corn, the Northern states produced in 1900 21 per cent as against 35 per cent for the Southern group, and, in 1912, 42 per cent as contrasted with 241 per cent. Excluding corn, the relative increase in farm output for the entire United States, 1912 over 1900, was 291 per cent; for the South, 47 per cent; and for Minnesota, the Dakotas and Montana combined, 316 per cent. In matters of financial moment there are three reasons why corn should be given less weight in the relative consideration of crop values than may properly be assigned to other grains; namely, the fact of large amounts being fed on the farm, the relatively simple marketing process requiring less capital and credit, and the fact that corn moves slowly being usually financed on six months paper instead of short paper as are other crops. ChartiXXIII MfWon Bushed r Bushels:L206.8U.67O 13% 33% i , 8<?,620,0Oo 2/% 2/% 25% Comparative Representation of RECEIPTS OF A L L GIS/UMS kfihntxpot/s, Dvtuffi, Omaha, /Tenses Cffyfi* St. lout*. 190O-1906-1912: See Grain Exhibits L and B Receipts of Grains at Five Important Grain Markets, 1900-1906-1912. Chart XXIII illustrates the relative importance of the grain trade of the Minneapolis district contrasted with that of the entire area tributary to Omaha, Kansas City and St. Louis. It should be understood also that in the grain trade, Duluth and Minneapolis constitute a market unit; the Duluth transactions, being of the nature of branch business, both as to credit arrangements and actual proprietorship, of Minneapolis. That the actual grain handled in the MinnesoU markets constituted SB per cent of the total in 1900, 54 per cent in 1906, and 62 per cent in 1902, is significant. St Paul is not a grain market Chart XXIV i « T f ft ELEVATOR CAPACITY. MAXIMUM TERMINAL STOCKS aas MILLING CAPACITYSE OMAHA,KANSAS CrrvaaeST. Louis ess 19(3. t T • •[• M 9he. Ttfilh'mBiwJwb ^° ± JL. 33% iOtOZOt0OO 10% ELEVATOR * CAPACITY 7% 24,426,000 36%' .4,614,000 35% 7% %74$,000 14% 3t10Z,0QO I J. t In Country Elc/s. Z7,000,oooBo. Terminal Stocks 77./60 70% 7^0 6% 4000 4% CAPACITY /3% (PAILY) Magnitude of Minnesota Grain and Milling Activities Contrasted with Omaha, Kansas City and St. Louis. Chart XXIV graphically contrasts Minnesota elevator and milling activities with those of Omaha, Kansas City and St. Louis. Obviously the day of rivalry among these, the largest cereal centers of the world, has passed. ". _ At the present time the elevator capacity of Minneapolis and the Lake Superior terminals is over 150 per cent greater than the combined carryine Dower of Omaha, Kansas City and St. Louis. ' During last year (1913) the actual maximum burden of grain carried in terminal storage in Minnesota and financed in Minneapolis was 180 per cent wore than the combined amounts for*Omaha, Kansas City and St Louis. And an amount of grain was carried by country.elevators in Minnesota and the Uak °tas over half as great as the contents of the terminal bins—constituting a total of over 75,000,000 bushels. The milling capacity of Minneapolis and the lake port is 235 per cent greater than the combined capacity of Omaha, Kansas City and St Louis; and the country mills of Minnesota have a combined capacity as great as that of Minneapolis. Chart XXV THOUSAND CARS. TRAFFIC MINNEAPOLIS & ST. PAUL. __ _ 1313 _ RECEIVED-FORWARDED - TOTAL FORWARDED 1 ' ST. PAUL. FORWARDED I ! ; DECEIVED MERCHANDISE ONLY ; | CftRS See Table 17 Freight Traffic of Minneapolis and S t Paul Compared, 1913. The significance of Chart XXV pertains to the relative importance of Minneapolis and S t Paul as shipping points. The total of all receipts and shipments, reduced to carload equivalents, over-all roads touching MinneThe chief chief si is, amounting for the year ending December 31, 1913, to 763,519 cars as contrasted with 410,848 cars "in" and "out" of S t Paul, including Minnesota Transfer, for the year ending October 31, 1913. (St Paul figures for Nevemapolis, *f a i Th e ?owTr ? T b b part 9 o\ 3 thTchart representing merchandise only, shows 225,021 cars "in" and "out" for Minneapolis, two-thirds of which is forwarded merchandise. This amount contrasted with 156,197 cars, equally divided as between in and "out" merchandise, for S t Paul is probably significant of superior jobbing activities in Minneapolis. Chart XXVI FREIE5HT TRAFFIC MINNEAPOLIS & S T F A I / L . CAHS RECEIVED AFORWARDED BY CLASSES OFConnoornES J3I& See Table 17 Classified Freight Traffic of Minneapolis and St. PauL Chart XXVI supplements Chart XXV by a subdivision of traffic by cities into 14 classes, showing: the superiority of Minneapolis over St Paul in the followten classes: Agricultural implements and machinery; grain and seeds; linseed oil; cement and brick; coal; flour; millstuffs; merchandise; oil-cake and meal «W ten liscellaneous. St Paul excells in the handling of hay, lumber, live stock and meats. and miscellaneous. (Data compiled from official weekly reports of all roads entering Minneapolis and S t Paul for Minneapolis Civic and Commerce Association.) 3i 37 31 •• 30 31 jS i\ LE<S V* IS M- 13 22 U JANUARY MINNE kPDLIS FREIGh T MOVE MENT AVER/ ,GE MDF ITHLY FI .UCTUA T1DN5 FOR !FX Y E A R PERIC D IPQB 32 31 n A" / v» \ - A pan- • MAY / 15 3t 1^ / / 30 ' tHBIft OCTOBX 37 33 \ ^2>oo CAR 31 \ U \ \ 31 M / 21 / n CAR5 FDRWA %DED ^ / \ / CA \S RECE I V E O / 23 — « S"' H „. 17 IS*. 14 If (4. 13' 13 ti- a U< ll- u t i t7 5 A i 3 2 \. I •HiviH. w - See Table 9 Seasonal Fluctuations Minneapolis Freight Movement. Chart XXVII represents the seasonalfluctuationsof freight movement as evidenced by monthly records throughout a period of six years. By averaging "cars received" during the six Januaries, the six Februaries, and succeeding months pas a pas; by treating "cars forwarded" in like manner, by again taking the total of the average "in and out" movement by months, we have significant criteria of normal seasonal fluctuations. The importance of a knowledge of such variations in trade lies in the close quantitative relation between freight traffic and credit needs in a district concerned with the production and distribution of highly valued seasonal food products and allied traffic elements. By reference to Chart I these characteristics are clearly shown to be peculiar to Minneapolis commerce. Chart XXVII reveals an average major variation as between the summer level (April to July) and the autumn peakjn October of 40 per cent in cars forwarded and over 92 per cent in cars received—an average maximum monthly variation of 27,500 cars. A minor peak, involving an average variation of 8,000 within a month is reached in March. It is probable that in half the years the variation indicated is exceeded, and the likelihood of commensurate strain upon the banking facilities of this region is equally probable. Chart XXVII 1 iLUor s : 1 to c:L Av 22' 20 r 1A 8 10 - •J m RU ' 1 MIN +\ 1 V \ 1 r 84 12 13 IAR N Y V j±. A V n \ > 5 P/ >At R'IN M EAf \ V 5 21 vi r k W51 ft / f r s i 1 23 27 i5 It j s ' Si E£ Hi 0-1 {13 H r2 I ft / 24 - APOL 15 —1 25 vM / A f 30 ¥ A L #* * u nr 358, r I 4 / —[ ft* 22% — ^ \ / M 38 A\ 42 143 MB EK U c :TC r / ^ * 'AC 18 / \ i*t 74 \ 1 22 / V 4 In V) Of? 1 SI o I r> 56 / • IJ J % 10 8 t 4 4 2 1 o w < Seasonal Fluctuation in Financial Activities, Minneapolis and St. PauL t Chart XXVIII is constructed upon the record of weekly clearings for a period of four years ending December 31, 1913. By averaging the figures for respectively consecutive weeks for the four years, the average seasonalfluctuationsby weeks are calculated. The resulting averages are plotted, this deriving a "normal11 or average year, for both Minneapolis and St. Paul. The course of clearings for Minneapolis shows low points in February and May (eighth and twenty-second weeks), and reaches a maximum in October (forty-third week). The extreme average variation is from about $16,000,000 weekly clearings to over $31,400,000—a variation of 96 per cent infivemonths. For six weeks of this period the average advance is 85 per cent, and one two weeks' period, in late August and early September, shows an advance of 45 per cent, amounting to $8,000,000. A minor peak in clearings appears in the last week in February. Thisfluctuationin average clearings does not measure the extreme variations which may and do occur in the course of business. They do indicate the variations which, upon the basis of four years' experience, may reasonably be anticipated under normal conditions. The suddenness and extent of variations experienced in Minneapolis has no counterpart in St. Paul. The maximum variation in weekly averages at no time amounts to as much as $5,000,000; the same maximum average is reached in both autumn and spring and the minimum of $9,000,000 appears four times during the year. This variable career of banking activities in Minneapolis as contrasted with the relatively even tenor of St. Paul business is doubtless due to the closer association of Minneapolis banking with the seasonal phenomena of Agricultural production. Chart XXVIII Chart XXIX /7&ZO///7 CO PP £ Minnesota and Montana. Chart XXIX represents the relative importance of the two northern cities in the production of iron ore and copper. It is noteworthy that the ore production of Minnesota for 1909 was over 60 per cent greater than the total for the three states next in importance, and constituted 54 4/10 per cent of the total ore production of the United States. The output for 1913 is 12* per cent greater than that of 1909. The 31S000000 pounds of copper produced by Montana in 1909 exceeds that of the nearest competitor by 25,000,000 pounds, and represents 34 1/10 per cent of the copper production of the United States. The rapid growth of iron and copper production in Minnesota and Montana since 1879 as contrasted with the contemporary output of other states is especially significant, not only as to the present mineral im portance of these states, but as a forecast of future mining activities and mineral values to be handled and financed in the Northwest Chart XXX PRODUCTION OF f/eo/i COPPER Ls/rp Z/NC #ND PRECIOUS A7ET/?LS //y P&/MCJP/1L PRODUC/MG STATES-1 LEGEND COLOtest DO ••••••••••[••••••••••••••••••••f •••••••• $22t566,qOO NEVADA ,808,C00 LfT/tH 975, OOO 927000 SOUTHDAKOTA loot WISCONSIN 45 SS MILLION Relative Mineral Production of Minnesota and Montana, Chart XXX represents the relative position of Minnesota and Montana in the production of mineral values. Minnesota alone, in the $57,000,000 of ore values exceeds the value of metal products in any other state, except Michigan. The copper output of Montana places that state third in the list of all metal producing states* The mineral values produced in 1913 by Minnesota, Montana, South Dakota, Wisconsin and Idaho (states lying within the proposed Northwestern Reserve Bank district), exceed the combined mineral values produced by California, Colorado, Missouri, Nevada and Utah. Chart XXXI RAlU MINNEAPOLIS DISTRICT WORTH RAILWAY SYSTEMS ENTERING MINNEAPOLIS, 9 OPERATING LINES INTO CITY, 24. MILEAGE IN REGIONAL DISTRICT, 35,846 MILEAGE CENTERING IN MINNEAPOLIS, 48,591. D ff ft \OT/7 /7/TOT/7 The Northern Railway Net Chart XXXI. The Minnesota district is not lacking in mechanical facilities of trade; the growth of the railwa; net within its boundaries has been rapid and continuous, and the location of railway lines is such as to constitute Minneapolis the natural focus of transportation activities to the Northwest. i Chart XXXII -jry 80$ 716 1757 2171 MO 3 1338 19 i $CATTL£ R57 M 1776 -W- 2190 w BtsriA*CK 422 700 » llM BOTYE 1516 31.35 42W POKTLArtD 180 882 J|9 i 68.05 RELATIVE^ DISTANCES* 1 MINMEAPOLTjS AMP CHICAGO I WESTERN; CITIE5 ^•1 • fl77 <^^C WHl/fSOM MILES A p H ! f SALTUAXM Cirr—. "• ^, j 7 / \ Car *yMF*M*a*o \ \ Comparative Transportation Facilities, Minneapolis and Chicago. Chart XXXII graphically represents certain strategic advantages of Minneapolis in matters of transportation and communication as contrasted with Chicago. The direct lines of railway leading from Minneapolis to the Pacific Coast and the Rocky Mountain cities, and to Canadian points, when considered in connection with the movement of traffic originating to the north and west, and the financial operations associated therewith, makes the matter of time and distance a significant factor in the location of banking facilities. Chart XXXIII Chart XXXIV See Table 10 See Table 11 f g g l l ^ TRADE VALUES TEISUTAEYTQ BY Y£Ag5-l?0g,T0iqia POST OFFICE St PAUL The Development of Foreign Trade. Chart XXXIII represents the growth of exports and imports in Minnesota, Dakota and Montana districts for a period of eleven years. The increase in exports from $15,000,000 to $62,000,000 during this period is significant of a rapid development in foreign trade. The industrial activities contributing to this foreign trade constitute one of the most important economic units involved in the production and distribution of food products, and the conduct of this business consequently requires the development of commercial and financial agencies of a somewhat specialized nature. The processes of finance which have developed spontaneously in connection with the foreign trade in flour and grain, are strikingly similar to the opera* tions involved in the European discount system, and are quite different from financial methods in customary use in other sections of this country. During the last four years the custom house receipts for the Minnesota customs district accredit the following proportions to Minneapolis business: 1910—507 per cent. 1911—62.1 per cent. 1912—70.9 per cent. 1913—62.1 per cent Chart XXXV COMPARATIVE INDUSTRIAL ACTI71TI1S: Decimal R e p r e s e n t a t i o n . MINJffiAFOUS AKD ST. PAUL-1909. Figure* f o r 8 t . Paul taken a* 1OOJS. Population Euater of est&tliehaent* Persona e n d in aanufacture .. ) ) ) fffiiinnniiD s t . fan I Utf, Proprietor* \k fins mew Salaried employees fit PDIII |#ape earners j e e Ko. Prinary Ihorse power ) ] ) Capital Services Salaries Materiale of Product* '•!-* added ffianufactur« At Paul I 280^ Chart XXXVI MINNEAPOLIS AVAILABLE FOR RESERVE BANK OLD FEDERAL FIRST FLOOR ^^ 130 COURSE OF C A P I T A L SURPLUS -DEPOSITS LOANS L DISCOUNTS w rfgf ^r^- t l» ALL BANKS-MINMEAPOLIS MO4-WIS //O ICO 70 Development of Banking in Minneapolis, 1904-1913* I See T*ble 14 TABLE 1. Composite and Comparative Statement of Capital and Surplus, National Banks of Minneapolis and St. Paul. 1872-1913. ST. PAUL MINNEAPOLIS MINNEAPOLIS AND ST. PAUL Combined YEAR Capital 1872 1873 1874 1875 1876 1877 1878 1879 1880 1881 1882 1883 1884 1885 1886 1887 1888 1889 1890 1891 1892 1893 1894 1895 1896 1897 1898 1899 1900 1901 1902 1903 1904 1905 1906 1907 1908 1909 1910 1911 1912 1913 $542,000 660,000 660,000 750,000 860,000 950,000 1,250,000 1,260,000 1,260,000 1,100,000 1,600,000 1,850,000 3,197,700 3,100,000 ' 3,600,000 3,700,000 4,260,000 4,500,000 4,600,000 4,840,000 4,931,000 6,400,000 5,700,000 6,200,000 6,200,000 4,600,000 4,500,000 4,000,000 4,000,000 3,260,000 3,250,000 4,460,000 4,460,000 4,700,000 4,700,000 6,700,000 5,700,000 6,650,000 6,900,000 6,800,000 6,800,000 7,500,000 Surplus $41,585 49,037 93,956 111,426 125,182 82,987 100,446 112,000 105,688 71,688 116,000 172,500 - 240,000 265,000 280,100 356,500 496,000 624,000 602,000 600,000 639,000 674,000 369,000 399,600 461,000 491,000 612,000 669,600 697,000 695,000 806,000 1,670,000 2,261,190 2,562,083 2.962,033 4,352,033 5,362,083 6,235,143 5,694,361 5,835,000 5,860,000 6,210,000 Total Capital Surplus $583,68C $1,077,900 $249,021 599,037 1,800,000 306,069 333,000 748,966 1,800,000 366,000 861,426 1,800,000 1,700,000 368,000 976,182 1,700,000 344,000 1,042,967 349,500 1,350,446 1,700,000 355,000 1,362,000 1,700,000 1,355,688 2,200,000 . 505,000 575,000 1,171,658 2,200,000 635,000 1,715,000 2,200,000 805,000 2,022,600 4,700,000 3,437,700 5,200,000 1,010,000 3,365,000 5,200,000 1,010,000 3,780,100 5,700,000 1,128,000 4,056,500 5,700,000 1,161,000 4,746,000 5,200,000 1,208,500 6,024,000 5,200,000 1,247,000 5,102,000 5,200,000 1,290,000 5,440,000 4,800,000 1,283,000 5,570,000 4,800,000 1,298,000 6,074,000 2,800,000 1,103,000 6,069,000 . 3,800,000 1,205,000 6,699,600 3,800,000 1,055,000 6,661,000 3,800,000 1,055,000 855,000 4,991,000 3,800,000 657,000 6,012,000 3,*Q0,OO0 561,000 4,569,500 3,800,000 667,000 4,697,000 3,800,000 783,000 3.945,000 3,800,000 830,000 4,055,000 3,800,000 6,120,000 4,000,000 1,036,000 6,701,190 4,000,000 1,205,000 7,262,083 4,200,000 1,205,000 7,652,033 4,450,000 1,445,000 10,052,083 4,100,000 2,265,000 11,052,083 4,100,000 2,600,000 10,886,143 4,100,000 2,740,000 12,494,361 4,100,000 3,120,000 12,635,000 4,100,000 3,390,000 12,660,000 4,100,000 3,500,000 13,710,000 5,900,000 3,700,000 Total §1,326,921 2,106,069 2,133,000 2,166,000 2,068,000 2,044,000 2,049,500 2,055,000 2,705,000 2,775,000 2,835,000 5,505,000 6,210,000 6,210,000 6,828,000 6,861,000 0,408,500 6,447,000 6,490,000 6,083,000 6,098,000 3,903,000 5,005,000 4,855,000 4,855,000 4,655,000 4,457,000 4,361,000 4,467,000 4,583,000 4,630,000 5,036,000 5,205,000 5,405,000 5,895,000 6,365,000 6,700,000 6,840,000 7,220,000 7,490,000 7,600,000 9,600,000 Capital $1,619,900 2,350,000 2,450,000 2,550,000 2,500,000 2,650,000 2,950,000 2,950,000 3,450,000 3,300,000 3,800,000 6,550,000 8,397,700 8,300,000 9,200,000 9,400,000 9,450,000 9,700,000 9,700,000 9,640,000 9,731,000 8,200,000 9,500,000 9,000,000 9,000,000 8,300,000 8,300,000 7,800,000 7,800,000 7,050,000 7,050,000 7,050,000 8,450,000 8,900,000 9,150,000 9,800,000 9,800,000 9,750,000 11,000,000 10,900,000 10,900,000 13,400,000 Surplus $290,606 355,106 431,956 477,426 493,182 436,9&7 449,946 467,000 610,588 646,558 750,000 977,500 1,250,000 1,275,000 1,408,100 1,517,500 1,704,500 1,871,000 1,892,000 1,883,000 1,937,000 1,777,000 1,574,000 1,454,500 1,516,000 1,346,000 1,169,000 1,130,500 1,364,000 1,478,000 1,635,000 2,706,000 3,456,190 3,757,083 4,397,083 6,617,083 7,952,083 7,975,14:" 8,714,36 9,225,00C 9,360,00C ' 9,910,00C Total $1,910,506 2,705,106 2,881,956 3,027,426 3,043,182 3,086,967 3,399,946 3,417,000 4,060,588 3,946,558 4,550,000 7,527,500 9,647,700 9,575,000 10,608,100 10,917,500 11,154,500 11,471,000 11,592,000 11,523,000 11,668,000 9,977,000 11,074,000 10,454,500 10,516,000 9,646,000 9,469,000 8,930,500 9,164,000 8,528,000 8,685,000 11,156,000 11,906,190 12,657,083 13,547,083 16,417,083 17,752,083 17,725,143 19,714,361 20,125,000 20,260,000 23,310,000 From Annual Reports of Comptroller of United States Currency showing conditions of National Banks as of time of last *« for each year. TABLE % ST. PAUL BANKS, 1904-1913. Deposits Capital Surplus 1904 $4,400,000.00 $1,537,500.00 $29,715,650.00 $19,166,199.00 1905 4,450,000.00 1,367,000.00 34,404,499.00 22,222,242.00 1906 4,550,000.00 1,500,000.00 33,916,490.00 21,749,798.00 23,377,848.00 Year Loans & Discounts 1907 4,200,000.00 2,290,000.00 34,017,655.00 1908 4,200,000.00 2,040,000.00 34,756,308.00 23,221,940.00 1909 4,250,000.00 2,990,000.00 40,022,344.00 30,226,256.00 1910 4,275,000 00 3,246,000.00 42,975,252.00 29,853,907.00 31,800,531.00 1911 ; 4,275,000.00 3,508,000.00 51,312,364.00 1912 , 4,125,000.00 3,500,000.00 45,851,516.00 30,016,580.00 51,186,053.00 36,443,186.00 1913^ 5,850,000.00 3,805,000.00 MINNEAPOLIS BANKS, 1904*1913. Year Capital Surplus Deposits Loans and Discounts Mortgage Loans 1904 $5,736,000.00 $2,769,000.00 $47,074,347.00 $36,002,403.00 $338,367.00 1905 6,235,000.00 3,202,083.00 54,236,940.00 41,676,224.00 949,851.00 1906.. 6,235,000.00 3,038,083.00 67,695,672.00 44,642,603.00 1,139,399.00 1907 6,585,000.00 4,829,869.00 66,518,044.00 47,102,618.00 1,278,061.00 1908 6,085,000.00 6,387,839.00 76,871,340.00 61,190,301.00 1,326,831.00 1909 8,025,000.00 6,973,433.00 90,094,307.00 60,400,087.00 2,261,010.00 1910 9,005,000.00 6,172,705.00 82,267,137.00 67,649,377.00 2,697,964.00 1911 9,030,000.00 7,073,100.00 92,386,492.00 64,339,821.00 2,819,226.00 9,230,000.00 6,783,600.00 100,028,630.00 69,658,614.00 3,107,250.00 9,750,000.00 7,065,600.00 101,506,300.00 69,861,736.00 3,662,454.00 1912 1913... , ;, . TABLE 3* COMPOSITE AND COMPARATIVE STATEMENT OF DEPOSITS, BANK ACCOUNTS HELD, AND LOANS AND DISCOUNTS, NATIONAL BANKS OP MINNEAPOLIS AND ST. PAUL, 1872*1913. MINNEAPOLIS MINNEAPOLIS AND ST. PAUL Combined ST. PAUL Year Deposits Due to Loans and Other Banks Discounts Deposits Due to Loans and Other Banks Discounts Deposits Due to Loans and Other Banks Discounts 1872 1873 1874 $1,257,074 1,689,024 1,430,997 $17,177 11,625 9,221 $1,252,199 1,495,330 1,605,802 $1,698,210 2,189,573 2,161,820 $184,245 264,026 244,441 82,287,656 3,101,109 3,309,674 $2,955,284 3,878,597 3,592,817 $201,423 275,551 253,662 $3,539,835 4,596,439 4,915,476 1875 1876 1877 1,479,336 1,848,783 1,652,413 19,955 7,346 30,557 1,691,083 2,067,998 2,003,378 2,069,116 1,970,621 2,034,397 423,846 249,699 379,102 3,493,684 3,346,836 3,49G,385 3,548,452 3,819,404 3,586,810 443,801 257,045 409,659 5,184,767 5,414,834 5,499,763 1878 1879 1880 1,697,071 1,767,743 2,181,762 11,518 20,260 33,915 2,385,666 2,475,757 2,779,663 2,274,634 3,046,325 3,831,334 420,089 484,406 637,656 3,957,241 4,179,319 5,649,917 3,871,705 4,804,068 6,013,086 431,607 504,666 671,571 6,342,907 6,655,076 8,429,580 1881 1882 1883 2,683,748 3,164,097 3,929,053 194,921 384,648 598,654 2,823,945 4,167,433 6,010,971 5,674,455 5,355,628 7,202,440 2,439,416 1,626,473 2,024,281 8,218,517 7,712,386 11,936,617 8,358,203 8,519,725 11,131,493 2,634,337 2,011,121 2,622,835 11,047,462 11,879,824 16,947,588 1884 1885 1886 3,673,816 4,993,903 6,432,282 860,937 1,210,969 2,016,164 6,506,855 7,286,606 8,851,778 7,960,941 8,265,325 8,602,267 1,858,387 2,697,088 2,869,748 11,776,824 13,474,671 14,100,447 11,634,756 13,259,228 15,034,549 2,719,324 3,908,047 4,885,902 18,283,679 20,761,177 22,952,225 1887 1888 1889 7,891,992 8,200,820 7,464,167 1,608,351 1,977,496 1,739,904 10,611,976 10,809,041 10,680,350 10,190,599 9,227,664 8,986,680 3,621,011 3,667,296 2,7j)4,261 16,654,230 14,805,213 13,858,350 18,082,591 17,428,484 16,450,847 5,229,362 5,644,792 4,444,165 27,266,206 25,614,254 24,538,700 1890 1891 1892 8,636,638 10,132,934 9,419,468 2,156,718 1,893,640 2,900,484 11,453,914 12,648,910 12,926,639 10,375,295 8,813,795 10,316,417 3,220,717 4,202,278 4,256,769 15,451,475 13,093,768 15,973,906 19,011,833 18,946,729 19,735,875 5,377,435 6,095,918 7,157,253 26,905,389 25,642,678 28,900,595 1893 1894 1895 7,403,824 7,466,034 8,703,001 1,633,041 2,983,314 3,052,530 12,320,648 10,452,364 10,945,360 7,167,692 8,147,106 8,145,523 2,284,589 3,967,775 3,212,655 9,647,745 11,489,675 11,161,029 14,571,516 15,613,140 16,848,524 3,917,630 6,951,089 6,265,185 21,968,293 21,942,039 22,106,389 1896 1897 1898 7,264,701 8,305,070 9,413,198 2,819,618 4,676,198 3,938,839 10,788,168 9,320,950 10,299,184 9,485,486 9,506,325 10,432,375 2,884,752 5,328,600 4,346,011 10,450,811 8,803,064 9,715,305 16,750,187 17,811,395 19,845,573 5,704,370 10,004,798 8,334,850 21,238,979 18,124,014 20,014,489 1899 1900 1901 11,639,221 10,507,430 11,462,152 6,040,106 6,440,690 8,391,526 13,462,823 14,287,051 15,539,542 12,820,912 12,675,315 13,408,835 6,095,662 5,402,036 6,353,680 10,480,123 11,468,471 12,884,441 24,460,133 23,182,745 24,860,987 12,135,768 11,842,726 14,745,206 23,942,946 25,755,522 28,423,983 1902 1903 1904 14,102,483 13,590,609 16,667,054 9,857,094 9,037,683 8,963,268 18,843,204 20,893,904 20,692,701 15,258,516 14,990,496 16,709,339 6,714,107 6,339,928 6,819,743 14,514,000 14,870,466 16,677,743 29,360,999 28,581,005 32,276,393 16,571,201 15,377,611 15,783,001 33,357,204 35,769,370 37,370,444 1905 1906 1907 16,862,252 20,904,970 28,549,817 11,632,248 14,549,840 17,865,984 23,070,656 27,357,772 37,839,299 18,333,904 20,934,055 21,707,545 8,879,473 10,370,882 10,549,441 18,622,657 20,834,714 22,418,522 35,186,156 41,839,025 50,257,362 20,511,721 24,920,722 28,405,425 41,693,313 48,192,486 60,257,821 1908 1909 1910 36,645,299 42,384,436 37,634,467 28,982,892 22,288,071 26,279,090 43,805,783 46,665,934 48,158,692 23,325,549 26,191,331 26,105,386 13,173,037 12,758,014 13,361,246 25,207,868 26,124,190 28,381,361 58,970,848 68,575,767 63,739,853 42,155,929 35,046,035 39,640,336 69,013,651 72,790,124 76,539,953 1911 1012 1913 39,983,615 47,724,674 46,740,698 21,607,203 27,701,775 34,715,470 47,926,682 67,363,665 59,484,125 25,831,838 26,939,658 34,629,419 12,010,953 13,067,938 16,934,486 28,340,837 29,766,788 39,595,571 65,815,453 74,664,332 80,370,117 33,618,156 40,769,713 51,699,956 76,267,519 87,130,453 99,079,696 From Annual Reports of Comptroller of United States Currency showing condition of National Banks as of time of *st call for each year. TABLE 4. ANNUAL BANK CLEARINGS. Years 1913 1912 1911 Spokane Denver Seattle $219,265,776 $425,607,021 $664,857,448 225,430,618 * 487,848,306 602,430,661 219,937,589 458,897,827 552,640,350 San Francisco N e w Orleans Kansas City St. Paul $2,850,362,611 $530,515,562 2,713,027,216 579,166,754 $2,624,428,825 $980,683,873 2,077,501,052 1,058,324,963 2,427,075,543 1,013,907,623 2,578,730,359 531,574,517 Minneapolis Minneapolis and St. Paul $11312,412,257 $1,842,927,819 1,182,232,466 . 1,761,399,220 1,699,665,411 1,068,090,894 1910 241,052,859 493,046,623 590,093,365 2,323,772,871 987,491,235 2,034,557,738 576,150,228 11150,669,665 1,731,815,893 1909 206,504,834 466,450,933 580,696,855 1,979,872,570 904,231,769 2,395,530,983 518,244,363 1,648,159,219 1908 153,895,741 409,996,642 429,499,252 1,757,151,850 786,007,353 1,847,511,624 483,976,978 1,029,914,866 1,057,468,860 1907 150,709,509 407,803,850 488,591,471 2,133,883,620 956',538,295 1,649,175,013 484,891,663 1,168,462,160 1,643,353,818 1906 114,220,098 349,774,100 485,920,021 1,998,400,779 1,020,252,303 1,331,075,055 419,400,276 990,890,203 1,410,356,479 342,751,235 913,570,559 1,256,330,794 1,541,445,833 1905 82,049,546 327,957,690 301,600,202 1,834,549,789 962,771,960 1,197,905,607 1904 62,084,485 235,725,730 222,217,308 1,534,631,137* 970,928,984 1,097,887,156 315,805,394 843,230,773 1,169,036.167 1903 55,067,915 237,324,450 206,913,521 1,520,198,082 827,710,850 1,074,878,589 309,230,108 741,049,348 1,050,279,456 1902 44,234,601 230,369,178 191,885,973 1,373,362,025 672,360,577 983,294,998 294,197,119 720,762,332 1,014,949,451 1901 29,428,112 228,469,100 144,634,367 1,178,109,730 603,551,124 918,198,416 200,413,773 626,020,467 836,434,230 1900 28,127,365 246,942,831 130,323,281 1,029,582,595 550,790,701 775,204,813 247,000,954 679,994,076 827,055,030 1899 31,993,127 178,206,504 103,327,017 971,015,072 458,219,218 048,270,711 239,306,401 639,706,249 779,011,710 1898 23,004,272 151,355,846 68,443,035 813,153,024 435,723,085 585,294,038 221,105,702 400,222,672 081,328,274 612,300,325 1897 10,622,772 124,414,245 36,045,228 750,789,144 415,978,498 540,837,381 197,712,210 414,697,016 1890 12,546,092 121,368,646 28,157,065 683,229,599 406,556,610 503,792,913 228,875,313 302,065,674 621,840,987 1895 10,034,868 138,288,035 25,691,157 692,079,249 487,948,184 520,871,222 222,332,180 372,895,344 595,227,530 1894 7,027,159 137,317,784 26,980,926 658,526,800 434,003,398 480,502,029 183,850,870 308,000,020 492,756,806 1893 14,491,418 185,335,869 40,147,625 699,285,878 500,897,031 474,672,695 207,679,490 832,243,860 539,923,350 1892 266,985,178 55,520,536 815,265,486 503,139,314 510,186,611 271,076,157 438,063,626 709,129,683 1891 230,134,970 48,977,349 893,268,703 514,807,422 460,471,785 360,715,248 608,790,526 1890 255,497,797 56,953,229 851,066,173 524,442,837 490,906,771 242,075,278 225,504,897 803,012,012 529,476,909 TABLES. YEABLY OLEABINGS OP MINNEAPOLIS AND ST. PAUL, 1881-1913. Year 1881. Minneapolis St. Paul Year Minneapolis St. Paul $19,487,660 1898. $460,222,572 $221,105,689 1882. 72,100,087 1899. 539,705,249 239,306,455 1883. 87,437,487 1900. 679,994,076 255,840,110 1884. 99,677,069 $101,636,563 1901. 626,020,457 260,413,678 1885. 124,715,103 118,340,978 1902. 729,752,331 294,097,110 1886. 166,421,842 152,954,315 1903. 741,049;348 309,230,101 1887. 194,777,583 205,013,099 1904. 843,230,773 315,805,393 1888., 215,626,250 194,912,912 1905. 913,579,658 342,751,234 419,466,276 1889., 240,221,068 209,405,281 1906. 990,890,203 1890., 303,913,022 225,564,896 1907. 1,146,462,149 484,891,667' 1891., 366,720,243 242,075,278 1908.. 1,057,468,860 433,976,978 1892.. 433,053,626 271,125,301 1909., 1,029,914,855 520,614,861 1893.. 332,243,860 207,679,487 1910.. 1,155,669,664 576,156,208 1894., 309,002,009 183,856,870 1911.. 1,068,090,893 531,574,516 1895.. 372,895,344 222,332,181 1912.. 1,182,232,466 579,166,753 1896.. 392,965,673 228,875,307 1913.. 1,312,412,266 530,515,562 1897.. 414,697,614 197,712,205 TABLE 6. COMPARATIVE PRODUCTION CHIEF AGRICULTURAL PRODUCTS, 1900-1912. OATS, WHEAT, CORN, BARLEY, POTATOES AND RYE IN BUSHELS Total United States Total of Four States Minnesota, South Dakota, North Dakota, Montana % of Total United States 1900 3,730,306,667 241,872,000 6J% 865,250,000 23% 1912 5,953,485,000 901,122,000 15% 1,142,051,000 19% Total All States West of Mississippi Total of Four States Minnesota, South Dakota, North Dakota, Montana % of Total States West of Mississippi Total of Five States Missouri, Kansas, Oklahoma, Nebraska, Colorado % of Total States West of Mississippi 1900 1,937,825,712 241,872,000 12% 865,250,000 ' 44i% 1912 3,314,327,000 901,122,000 27% 1,142,081,000 34J% Total for Five States Missouri, Kansas, Oklahoma, Nebraska, Colorado % of Total United States OATS, WHEAT, BARLEY, POTATOES AND RYE Total United States Total of Four States Minnesota, South Dakota, North Dakota, Montana % of Total United States Total of Five States Missouri, Kansas, Oklahoma, Nebraska, Colorado % of Total United States 1900 1,625,204,151 177,253,000 11% 292,903,000 18% 1912 2,828,739,000 737,228,000 26% 430,722,000 15% Total of All States West of Mississippi Total of Four States Minnesota, South Dakota, North Dakota, Montana % of Total States West of Mississippi Total of Five States Missouri, Kansas, Olkahoma, Nebraska, Colorado % of Total States Westof Mississippi 1900 840,530,641 177,253,000 21% 292,903,000 35% 1912 1,736,700,000 737,228,000 42% 430,722,000 24§% TABLE 7. PEODUCTION OF FARM CHOPS IN MINNESOTA, NORTH DAKOTA, SOUTH DAKOTA AND MONTANA, 1880-1912. (000 omitted) Wheat 1880 Rye Oats Corn Barley Potatoes Total Percent Increase Over 1890 260 24,071 19,529 3,493 6,056 95,228 -54% 47,767 272 27,639 20,799 4,557 6,384 107,418 -48% 45,175 487 34,650 25,795 7,730 6,551 120,388 -42% 50,843 656 41,687 20,049 8,057 7,374 128,666 -31.5% 1884 65,009 665 49,652 37,601 11,021 7',213 171,161 -17,% 1885. 63,913 629 52,548 33,798 10,506 8,225 169,619 -18% 1886 75,069 544 63,373 35,732 9,759 8,799 193,276 -6% 1887, 90,465 384 79,768 39,093 11,540 10,661 231,916 12% 1881 1882 1883 1888, 41,819 684 79,538 39,458 13,426 12,782 213,806 3% 88,647 1,361 78,996 36,029 11,735 12,620 229,388 11% 80,255 1,031 66,045 33,337 14,027 11,516 206,211 00% 1891, 139,008 1,389 95,698 43,327 19,132 10,642 309,196 50% 1892, 108,873 1,364 76,465 42,294 17,782 11,300 258,078 25% 1893. 78,588 1,158 71,052 46,063 14,652 11,760 223,273 208,963 188D. 1890. 1894. 1895. 67,918 88,434 156,968 1,323 1,606 8.5% 73,654 20,925 15,738 8,389 117,664 49,072 28,963 33,508 387,781 88% 66,594 18,574 20,276 300,825 46% 1.5% 1896. 105,235 1,133 89,013. 1897. 111,954 1,119 68,782 50,142 25,838 10,876 268,711 30% 1898. 178,213 1,296 89,966 59,149 18,070 15,699 362,393 76% 1899. 159,504 1,438 88,325 61,777 16,679 19,052 346,775 68% 1900. 86,765 1,195 63,428 64,619 11,020 14,845 241,872 18% 67,337 36,103 15,625 430,384 109% 20,059 471,582 128% 1901. 193,429 2,836 115,054 1902. 188,952 3,381 142,467 65,326 51,407 1903. 175,931 2,866 125,453 84,603 51,640 16,152 456,645 121% 1904. 156,390 2,658 150,318 87,666 59,952 21,821 478,805 133% 1905. 195,033 2,650 162,757 103,147 162,757 18,452 644,796 213% 1906. 178,950 2,804 167,409 117,225 70,788 20,276 557,452 170% 93,950 63,080 23,024 480,732 133% 20,330 520,051 153% 1907. 159,213 2,652 138,813 1908. 178,550 2,660 133,702 103,462 76,297 1909. 227,188 3,394 217,157 128,671 74,137 31,300 681,847 231% 1910. 156,920 2,758 151,065 122,516 52,524 16,920 659,615 220% 1011. 144,234 5,400 151,005 132,740 55,078 38,997 527,454 156% 1912. 282,389 7,437 293,390 163,894 101,666 52,346 901,122 337% TABLE 8. UNITED STATES PRODUCTION OP WHEAT, EYE, OATS, CORN, BARLEY AND POTATOES, 1880-1912. (000 omitted) 1880. Wheat Rye Oats 498,550 24,541 417,885 Corn 1,717,435 Barley Potatoes Total Percent Increase Over 1890 45,165 167,660 2,871,236 2,065,688 -22% 8% 1881 383,280 20,705 416,481 1,194,916 41,161 109,145 1882. 504,185 29,960 488,250 1,617,025 43,954 170,973 2,859,347 1883. 421,086 28,059 571,302 1,551,067 50,136 203,164 3,349,314 1884 512,765 28,640 583,628 1,795,528 61,203 100,642 3,172,406 19% 1885 357,112 21,706 629,409 1,930,176 58,360 175,029 3,157,842 19% 1886, 457,218 24,489 624,134 1,665,441 59,428 163,051 2,998,761 13% 1887 456,329 20,693 659,618 1,456,161 56,312 134,103 2,783,716 1888 415,868 28,415 701,735 1,987,790 63,884 202,365 3,400,057 1889 490,560 28,420 751,515 2,112,892 78,333 204,831 3,666,601 1890 399,262 25,807 523,621 1,489,070 67,168 148,290 2,654,118 1891 611,780 31,751 738,394 2,060,154 86,839 254,424 3,783,442 1892 515,949 27,079 661,035 1,623,464 80,097 156,655 3,070,179 16% 1893 396,132 26,555 638,855 1,619,496 69,369 183,034 2,933,941 10% 1894 460,267 26,728 662,037 1,212,770 61,400 170,787 2,593,989 -2% 1895 467,103 27,210 824,444 2,151,138 87,073 207,337 3,854,205 45% 1896 427,684 24,369 707,346 2,283,875 69,695 252,235 3,765,204 42% 00% 1897 530,149 27,363 698,768 1,002,968 66,635 164,016 3,389,349 28% 1898 675,149 25,658 730,907 1,924,185 55,792 192,306 3,603,997 36% 1899 547,304 23,962 796,178 2,078,144 73,382 228,783 3,747,753 41% 1900 522,230 23,996 809,126 2,105,103 53,926 210,927 3,730,308 41% 1901 748,460 30,345 736,809 1,522,520 109,933 187,593 3,335,665 25% 1902 670,063 33,631 987,843 2,523,648 134,954 234,633 4,634,772 1903 637,822 29,363 784,094 2,244,177 131,861 247,128 4,074,445 53% 1904 552,400 27,242 894,596 2,467,481 139,749 332,830 4,414,298 66% 1905 692,979 28,486 953,216 2,707,994 136,551 260,741 4,779,967 1906, 735,261 33,375 064,905 2,927,415 173,916 303,033 5,147,910 1907. 634,487 31,566 754,443 2,592,320 153,597 298,262 4,464,275 1908, 664,602 31,851 807,156 2,668,651 166,766 278,985 4,618,001 70% 1909, 683,350 32,239 1,007,353 2,772,376 170,284 376,537 5,042,139 90% 1910, 635,121 34,897 1,186,341 2,836,360 173,832 349,032 5,265,483 1911. 621,338 33,119 922,298 2,531,488 . 160,240 292,737 4,561,220 72% 1912. 730,267 35,664 1,418,337 3,124,746 223,824 420,647 5,953,485 184% 94% TABLE 9. COMPARATIVE STATEMENT OP CABS RECEIVED AND FORWARDED AT MINNEAPOLIS POR SIX YEARS ENDING DECEMBER 31, 1913. RECEIVED MONTH 190S 1909 1910 1911 1912 1913 Average Received 6 Years January.• 22,208 19,153 26,404 24,503 25,225 30,912 24,734 February. 19,211 19,896 25,078 20,653 26,169 27,221 23,038 March 22,787 22,401 27,821 24,304 25,946 30,211 25,578 April 16,717 17,239 20,177 20,943 21,701 24,507 20,214 May 16,619 19,333 20,309 22,564 19,971 23,761 20,426 June 18,354 20,207 21,109 21,915 18,650 23,906 20,690 July 18,695 17,917 19,584 21,189 20,354 23,057 20,132 August... 26,426 28,848 28,953 25,582 21,826 20,713 26,730 September 39,040 32,675 33,826 35,642 38,066 41,234 315,747 October... 35,904 36,075 35,702 36,957 45,922 40,401 38,493 November 25,938 33,349 29,758 35,314 41,788 35,309 33,576 December. 24,076 19,186 30,833 30,597 42,049 33,268 30,001 Total. 281,375 278,144 317,331 321,007 354,689 362,740 FORWARDED 1908 1909 1910 1911 1912 1913 Average Forwarded 6 Years January.. 20,084 19,140 21,688 20,312 20,410 28,568 21,700 February. 20,046 18,736 21,857 20,085 22,720 24,830 21,379 March.... 23,043 25,236 26,012 27,204 26,621 28,962 26,179 April 21,419 22,858 22,511 24,731 27,437 28,378 24,555 May 19,991 22,828 22,871 23,828 24,974 26,924 23,569 June 20,866 23,983 24,053 22,834 24,169 26,142 23,674 21,486 22,554 25,571 27,213 23,365 28,404 29,059 25,153 July 21,508 21,861 August... 21,346 22,383 23,813 25,915 September 27,520 28,965 26,648 26,211 32,791 31,963 29,016 October... 30,075 32,950 28,099 28,440 39,364 34,874 32,300 November. 23,611 30,385 24,725 24,435 36,257 29,300 28,118 December. 20,336 18,739 23,145 22,955 28,880 28,441 23,749 Total. 269,845 288,064 2S6,908 289,504 337,598 344,654 TABLE 10 TOTAL VALUES OP IMPORTS AND EXPORTS OP MERCHANDISE DURING EACH CALENDAR YEAR, 1902-1912, DULUTH, MINNESOTA, MONTANA AND IDAHO, NORTH AND SOUTH DAKOTA. Imports* )uluth Minnesota Montana and Idaho North and South Dakota Total * Percent Increase Over Previous Year 1902 $130,210 $2,290,145 $363,108 $2,525,050 $5,308,513 ,... 1903 137,787 2,874,490 562,978 3,494,043 7,069,298 33% 1904 142,499 2,510,774 748,666 2,109,324 5,511,263 22% 1905 101,134 3,509,479 1,308,885 1,546,965 6,466,463 18% 1906 95,338 4,824,528 1,333,873 1,507,954 7,761,693 20% 1907 138,575 6,495,303 1,797,212 1,674,764 10,105,854 30% 1908 109,974 5,474,544 1,453,919 1,603,814 8,642,251 15% 1909 143,158 6,153,289 1,703,698 2,262,416 10,262,561 19% 1910 399,396 6,853,751 3,015,307 2,991,914 13,260,368 29% 1911 482,104 5,948,107 904,848 3,203,250 10,538,309 20% 1912 2,138,681 9,664,578 2,370,980 5,032,671 19,206,910 82% Exports. Duluth 1902 ' Minnesota Montana and Idaho North and South Dakota Total Percent Increase Over previous Year $2,351,179 $494,345 $450,767 $11,882,479 $15,178,770 1903 1,791,544 1,629,940 128,242 11,525,106 15,074,832 1% 1904 676,850 1,547,103 247,463 13,595,397 16,066,813 6% 1905 1,955,460 3,378,632 411,391 14,798,133 20,543,616 27% 1906 4,151,702 7,872,923 560,574 14,637,833 27,223,032 33% 1907 5,233,033 6,760,379 919,783 10,187,810 23,107,005 15% 1908 4,987,700 8,125,206 1,043,856 7,099,607 21,256,369 8% * 1909 5,636,898 9,909,940 1,397,940 10,511,820 27,455,598 29% 1910 2,524,340 16,908,736 2,241,295 15,820,844 37,495,215 36% 1911 1,069,947 23,455,778 3,071,028 19,766,516 47,363,269 26% 1912* 2,759,835 31,647,663 4,918,480 24,656,849 63,982,827 35% Department of Commerce and Labor, Monthly Summary of Commerce and Finance, December, 1912, Pages 768-769. TABLE 11. POSTOFFICE RECEIPTS Minneapolis and St. Paul, 1902-1913 1902 1903 1904 1905 1906 1907 1908 1909 1910 1911 1912 1913 Minneapolis $961,004 $1,070,900 $1,189,572 $1,806,676 $1,452,440 $1,547,154 $1,576,082 $1,739,611 $1,968,716 $2,000,490 $2,160,195 $2,396,281 St. Paul $620,445 Total 703,830$ $733,830 $757,416 $823,663 $1,002,474 $1,026,961 $1,093,397 $1,186,140 $1,206,334 $1,278,598 $1,479,751 $1,587,449 $1,774,730 $1,923,402 $2,064,092 $2,276,103 $2,549,629 $2,603,943 $2,833,008 $3,154,855 $3,200,824 $3,428,793 $3,875,032 TABLE l l BANK CLEARINGS OF MINNEAPOLIS AND ST. PAUL FOE EACH WEEK frKOM 1910 TO 1913, AND AVEBAGE WEEKLY CLEABINGS FOB THE FOUB-YEAB PEBIOD. 1913 Weeks 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 1912 1911 1910 Average for four years Minneapolis St. Paul Minneapolis St. Paul Minneapolis St. Paul Minneapolis St. Paul Minneapolis St. Paul. Minneapolis St. Paul. Minneapolis St. Paul Minneapolis St. Paul. Minneapolis St. Paul. $28,014,075 12,635,035 $21,070,340 8,895,514 $19,237,680 9,851,551 $23,987,762 10,885,277 $23,077,436 10,566,844 28,712,740 10,157,369 19,308,992 9,931,138 20,540,321 10,066,195 24,895,166 10,094,653 23,364,302 10,062,338 26,580,759 9,457,667 18,230,633 9,460,339 20,832,680 0,475,328 23,128,480 9,849,067 22,193,088 9,560,600 24,636,493 9,001,293 17,957,602 10,155,614 19,059,932 9,260,126 21,382,760 10,360,266 20,758,919 9,694,324 22,401,132 9,303,278 18,940,715 9,882,583 18,009,088 9,262,295 21,686,704 9,050,275 20,259,409 9,374,607 21,737,346 10,200,000 18,920,246 10,564,951 18,723,474 8,870,031 17,062,668 8,506,816 19,108,431 9,535,462 21,634,828 8,000,000 19,138,853 9,037,795 18,106,430 8,401,716 21,916,876 10,053,752 20,174,246 8,873,315 19,707,366 8,387,501 16,129,274 9,219,425 16,135,975 9,256,481 17,923,322 10,384,906 17,473,984 9,312,078 25,013,433 11,772,229 21,360,466 16,729,585 21,316,666 12,307,527 24,282,851 12,110,360 22,993,326 13,229,922 Minneapolis St. Paul. Minneapolis St. Paul. 25,136,314 14,000,046 20,375,791 12,376,674 18,583,920 11,882,314 20,620,083 11,637,231 21,179,027 12474,066 23,336,085 9,388,966 20,419,540 10,632,513 18,828,634 10,679,727 19,385,608 11,430,937 20,492,441 10,533,035 19,498,313 9,621,361 17,714,480 12,475,800 17,223,406 11,995,854 17,808,869 10,605,532 18,061,267 11,174,636 23,154,296 11,721,804 16,996,026 12,817,811 17,175,161 9,009,988 21,629,729 12,179,640 19,738,553 11,432,310 21,273,790 9,149,823 18,139,368 8,775,266 18,779,482 10,614,933 19,390,427 11,277,387 19,395,766 9,954,352 21,323,231 8,825,795 22,451,481 11,117,634 17,139,167 9,667,970 20,768,636 11,372,707 20,418,103 10,236,015 22,267,628 9,790,889 18,551,939 9,512,993 19,599,826 11,580,880 19,084,435 10,559,044 19,875,931 10,360,951 20,469,467 9,272,740 17,686,081 9,811,800 17,938,135 8,952,961 17,688,171 10,088,247 18,417,963 9,531.437 22,010,858 8,752,239 20,842,979 10,684,686 19,772,618 10,816,941 20,409,221 12,789,442 20,768,894 10,760,827 21,370,432 8,627,015 22,204,769 9,558,898 19,243,970 9,583,264 16,863,892 8,000,000 22,778,496 9,796,473 23,477,280 9,252,326 18,871,877 9,227,245 18,801,294 10,206,302 18,122,890 8,968,241 20,243,142 11,474,014 16,762,858 8,597,795 18,636,694 10,237,500 19,652,085 9,574,128 19,076,152 9,600,123 16,892,348 9,870,456 16,634,146 9,511,237 18,769,988 11,835,885 17,822,613 10,200,210 14,631,525 8,201,392 16,680,833 8,337,964 16,645,955 10,711,941 16,905,551 8,812,825 19,190,683 10,553,264 18,677,639 9,708,752 19,377,883 10,859,279 19,076,835 9,884,068 17,903,161 9,603,378 18,777,050 10,889,784 18,333,286 9,437,019 18,379,952 12,336,085 Minneapolis. St. Paul. Minneapolis St. Paul Minneapolis St.PauL Minneapolis St. Paul. Minneapolis St. Paul. Minneapolis St. Paul. Minneapolis St. Paul Minneapolis St.Pauf. Minneapolis St. Paul. Minneapolis St.Pauf. Minneapolis St. Paul. Minneapolis t St. Paul. Minneapolis St. Paul. Minneapolis St. Paul. ' \\ ]„,[ , 24,150,586 9,116,827 19,308,697 11,475,817 91985,639 20,016,730 10,298,950 19,9lM6 10,444^ TABLE 12—Continued. i o Weeki 1913 26 Minneapolis. St. Paul 27 Minneapolis. St. Paul 28 Minneapolis. St. P a u l . . . . . 29 Minneapolis. St. Paul. 30 Minneapolis. St. P a u L . . . . 31 Minneapolis. St. Paul 32 Minneapolis. St. Paul 33 Minneapolis. St. P a u l . . . . . 34 Minneapolis. St. Paul. 35 Minneapolis. St. Paul. 36 Minneapolis. St. Paul. 37 Minneapolis. St. P a u l . . . . . 38 Minneapolis. St. Paul. 1912 $22,089,431 10,094,115 22,000,000 10,009,828 22,718,208 9,594,763 22,062,419 9,368,829 $17,381,843 10,684,912 18,532,738 9,921,432 19,247,669 10,042,555 17,766,664 9,790,461 20,155,978 9,057,322 21,592,589 9,824,147 16,638,882 10,770,209 16,412,684 9,227,734 19,562,214 9,217,165 19,495,970 10,223,133 17,762,109 10,213,335 21,110,328 9,016,763 25,648,188 9,813,157 27,713,817 10,937,103 26,115,315 10,100,193 28,383,904 11,275,439 32,176,996 12,525,484 20,600,000 9,442,191 25,997,440 9,456,786 30,608,632 9,879,751 - 33,080,854 10,277,523 31,446,842 11,908,806 32,082,172 11,052,646 19,962,477 10,284,042 19,079,929 10,039,537 1911 $19,550,443 12,544,952 16,646,086 10,089,986 21,090,235 11,165,054 18,300,904 12,356,512 $18,921,103 10,828,336 18,586,696 9,725,197 20,280,466 10,270,533 19,045,361 10,780,450 14,553,822 10,838,704 15,512,245 9,224,968 16,942,094 9,269,477 16,870,342 8,719,577 16,781,414 9,655,816 19,193,456 8,995,344 22,108,972 10,293,298 16,602,652 11,647,167 17,968,904 10,951,131 17,028,726 9,131,571 21,247,368 9,834,564 19,172,894. 9,625,232 16,762,006 10,824,658 16,917,623 9,798,573 18,422,253 9,168,884 19,801,567 9,650,355 18,554,104 9,734,143 21,640,889 8,889,421 25,913,630 10,096,328 27,307,848 10,493,248 27,246,728 1O7H1 2 2 29,086,959 11,287,637 30,358,165 11,285,051 34,797,330 12,548,262 33,358,419 14,090,730 85,545,251 14,763,525 32,665,212 13,337,585 36,280,213 15,462,180 13,249,780 33,320,529 16,098,880 Minneapolis. St. Paul. 26,076,457 12,412,892 48 Minneapolis. St. Paul. 49 Minneapolis. St. Paul 33,446,612 10,583,509 31,000,000 9,488,384 41 Minneapolis. St. Paul. 42 Minneapolis. St. Paul 43 Minneapolis. St. P a u l . . . . . 44 Minneapolis. St. Paul. 30,713,204 12,852,306 31,223,874 10,842,289 37,616,505 12,588,870 45 Minneapolis. St. Paul. 33,263,924 12,854,282 46 Minneapolis. St. Paul. 32,283,723 47 Average for four years $16,662,695 9,989,366 17,167,961 8,879,543 17,350,945 10,038,275 16,738,195 11,357,424 23,958,143 9,917,002 25,630,232 10,004,677 29,323,899 10,946,370 27,912,600 11,202,463 28,276,974 12,543,015 26,513,460 12,285,131 32,130,074 14,193,127 30,198,618 11,965,845 27,469,673 12,351,491 Minneapolis. St. P a u l . . . . . 1910 20,262,331 8,088,792 26,288,727 10,399,105 24,478,578 10,841,345 25,794,625 10,830,813 26,552,863 11,876,091 27,896,561 10,828,747 25,799,407 11,659,638 24,464,545 14,592,857 26,791,838 12,216,616 22,723,010 12,805,707 26,343,107 11,559,824 28,762,407 13,455,256 31,422,759 13,003,889 30,800,836 12,674,502 12,850,627 30,839,229 13,379,645 25,841,886 13,123,990 21,636,880 10,367,864 28,270,754 13,210,128 28,676,725 12,843,351 22,000,000 11,530,862 26,687,172 13,927,238 25,860,088 12,678,586 34,202,040 12,090,251 34,686,591 12,091,388 28,394,549 11,510,072 23,079,517 13,085,005 30,090,674 12,194,179 Minneapolis. St. P a u l . . . . . 30,170,893 11,334,744 33,257,431 10,234,578 26,201,835 10,280,007 25,000,698 13,388,085 28,667,714 11,309,353 50 sapoli St. Paul... 30,331,163 11,750,000 30,688,638 11,173,317 26,905,844 10,540,324 22,330,726 10,413,196 27,314,068 10,969,209 51 Minneaitpolis. St. 22,664,361 9,495,375 26,033,181 9,794,381 19,256,417 7,944,975 18,449,986 9,179,915 21*600,986 9,103,661 TABLE 13 BANK CLEABINGS, NINE CITIES, 1909-1913 Percentage Relations 1909 1910 1911 oo 1913 1012 t- Denver 466,450,933 493,046,623 5.5 5.5 458,897,827 —7 —2 487,8-18,306 8.5 $219,265,770 —3 5.5 4.5 425,607,021 —13 -10 Seattle 586,696,855 590,093,365 552,640,350-6.5 602,430,661 2.5 Spokane $206,504,834 $241,052,85916.5:16.5 $219,937,589 —9 5.5 $225,436,618 San Francisco.. 1,979,872,570 2,323,772,871 New Orleans... Kansas City St. Paul Minneapolis Twin Cities 17 17 2,427,075,543 23 2,677,561,052 987,491,235 9t 9 1,013,907,623 2 12.5 .,058,324,963 4.5 0,395,530,983 2,634,557,738 10; 904,731,769 518,244^363 576,156,228 1,029,914,856 1,165,659,665 10 2,578,730,359*3.5 7.5 2,713,027,216 12 12 i 531,574,517 —8 2.5 12 12 1,068,090,894 - 7 1,548,159,219 l,731,815,893jll.5|ll. 511,599,665,411 —8 570,166,574 10 064,857,448 10 13 35 2,24,428,825 —232 •5 17 980,683,873 -7.5 8.5 13 2,850,362,611 11.5 519 .5 530,515,562 -8.5 2 4 1,131,232,466 1114.5 1,312,412,259 .5 3 1,761,399,220 10 13.5 1,842,027,819 4.5 19 TABLE 14 COMPARATIVE STATEMENT OF CAPITAL, SURPLUS, UNDIVIDED PROFITS, BANKING CAPITAL, GROSS DEPOSITS, LOANS AND DISCOUNTS—ALL BANKS—MINNEAPOLIS AND ST. PAUL—1904-1913. MINNEAPOLIS. • Capital Surplus 1904 $5,736,000 $2,759,000 1906 6,235,000 3,202,000 1906 6,335,000 4,338,000 1907 6,835,000 1908 6,360,000 1909 8,625,000 Undivided Profits Banking Capital Gross Deposits $859,000 $9,353,000 $47,074,000 $36,102,000 1,111,000 10,548,000 54,382,000 41,846,000 1,330,000 12,003,000 70,634,000 5,407,000 1,350,000 13,592,000 79,326,000 5,977,000 984,000 13,321,000 88,287,000 62,386,000 6,675,000 Loans and Discounts 57,217,000 60,097,000 1,257,000 16,557,000 102,861,000 72,879,000 95,947,000 71,617,000 1910 9,905,000 6,672,000 1,443,000 18,020,000 1911 10,430,000 7,083,000 1,938,000 19,451,000 106,346,000 75,814,000 1912. 10,630,000 7,332,000 2,359,000 20,321,000 115,666,000 83,455,000 1913 11,180,000 7,616,000 2,482,000 21,278,000 119,097,000 87,053,000 *ST. PAUL. 1904. 4,655,000 1,249,000 743,000 6,647,000 32,074,000 20,285,000 1905. 4,980,000 1,405,000 862,000 7,307,000 36,870,000 24,502,000 1906. 4,750,000 2,173,000 508,000 7,491,000 41,357,000 26,561,000 1907. 4,750,000 2,544,000 04,000 7,935,000 42,653,000 27,295,000 1908. 4,850,000 2,848,000 582,000 8,280,000 48,473,000 29,816,000 1909. 4,875,000 3,123,000 799,000 8,797,000 51,848,000 34,024,000 1910. 4,900,000 3,593,000 833,000 9,326,000 50,349,000 34,476,000 19U. 4,950,000 3,977,000 905,000 9,832,000 56,417,000 36,768,000 1912. 4,950,000 4,249,000 939,000 10,138,000 53,352,000 36,337,000 1913. 7,225,000 4,679,000 1,279,000 13,183,000 68,428,000 48,494,000 •Including Stock Yards National Bank, South St. Paul. TABLE 15 TWIN CITY BANES, 1912. MINNEAPOLIS ST. PAUL Capital and Surplus National Banks State Banks Capital and Surplus Deposits $14,209,894 $43,232,170 1,404,230 8,341,439 Savings Banks 19,786,428 National Banks $8,574,182 531,418 State 2,300,000 $20,681,695 2,382,736 5,370,930 Savings Resources Resources Trust Companies Deposits 6,980,919 Trust Companies 625,000 2,031,102 TOTALS FOR BOTH CITIES Capital and Surplus Note:— Figures for National Banks taken from the report of the Comptroller of Currency, 1912 National Banks State Savings 122,784,076 1,935,648 Deposits $69,913,865 10,724,175 25,157,367 Resources Trust Companies 2,925,000 $8,012,021 Note:— . „ Figures for State and Savings Banks and Trust Companies taken from the Third Annual Report, Department of Banking, Minnesota, 1912. TABLE 16 COMBINED MINNEAPOLIS AND ST. PAUL BANES AND TRUST COMPANIES—CAPITAL, SURPLUS, DEPOSITS, LOANS AND DISCOUNTS, DUE TO BANKS, 19041913 MINNEAPOLIS. •gg Capital 4> °° 1*1 Surplus AI Deposits i Loans and Discounts Si itftfc g S II Due to Banks 10,719,576 0 2,302,410 0 10,726,928 0 3,086,924 11,392,530 20 12,356,681 15 12,533,633 10 13,170,799 6 21,589,039 72 11,647,946 —11 325,747 -950 1,388,350 23,968,833 11 12,132,386 4 296,7671 —9 98 1,127,950 -19 28,624,520 19 17,825,638 47 3,180,000; 2 1,189,000 * 6 31,409,702 10 17,957,013 1 264,341 - 2 7 . 3,255,000 1 1,430,100 20 31,452,416 0 19,005,171 6 350,397 . 3,230,000 1 1,636,000 34,087,501 8 23,091,468 21 1,698,219! °i i t 1,672,444 —2! 1,618,286 0 1,539,220 —5 442,383 —9 70,000 —27 1,428,788 —14 1,259,977 —18 245,652—45 95,400 1,508,99; I 1,485,0001 0!" 459,000 0 9,503,937 1005V 1,435,000! 0 531,500 16 9,490,384 1906V 1,485,000 3 684,000 29! 1907*.. 1,660,000 12 923,000 1908. . 1,635,000 —1 1,160,600 1909.. 1,675,000 —3 1910.. 3,130,000 1911.. 1912. 1913. 261 34 3,068,801 —1 1 3,083,683 356,169 20 32 301,953 —14 ST. PAUL. 1904V [ i 305,000; 0 i 1905V 250,0001—18; 1906*.. 150,000—40' 1907V. 1908.. 150,000! 0 650,000 333, 1909.. 675,000 740,000 1910.. 1911.. 92,500 0 95,500 3 36 ° 1,413,817 12 333,797 246,350 270 5,001,112* 231 3,758,251 166 331,330 — 4! 264,500 7 5,850,748 17 4,092,894 9 375,972 13 10 288,500 9 '7,520,638 63 5,269,111 29 395,909 22 8,183,501 —14 5,725,818 9 391,111 —2 42 449,025 55 1 890,000 . 740,000 17 ; 476,900 6 9,618,627 17 6,649,903 16 556,493 1913.. 1,115,000 50 533,845 12 10,968,894 14 7,845,297 18 532,179 1912. *No record for Savings Banks and Trust Companies. 0 484,411 1 TABLE 17 FREIGHT TRAFFIC—CABS RECEIVED AND FORWARDED, BY COMMODITIES, MINNEAPOLIS AND ST. PAUL, 1913. RECEIVED Minneapolis COMMODITIES St. Paul FORWARDED Minneapolis Excess Minneapolis St. Paul TOTAL RECEIVED AND FORWARDED Minneapolis Excess Minneapolis St. Paul Minneapolis and St. Paul Minneapolis Excess Over St. Paul Cars 11,786 3,577 8,209 9,607 3,164 6,443 21,393 6,741 28,134 14,652 218 Grain and Seeds 154,208 4,934 149,274 71,673 1,089 70,584 225,381 6,023 231,904 219,858 3,150 Hay and Straw. 4,238 6,837 -2,599 574 667 -93 4,812 7,504 12,316 -2,692 -36 21 Id 5 3,303 2,269 1,044 3,324 2,275 5,599 1,049 46 12,578 18,768 -6,190 7,161 9,354 -2,193 19,739 28,122 47,861 -8,383 30 381 4 Agricultural Imp. and Machinery Linseed Oil Lumber... , 8,717 7,476 1,241 1,961 2,821 -860 1,067 10,297 20,975 Coal 32,906 29,247 3,658 229 452 -223 33,134 29,600 62,833 3,435 12 Flour 3,928 1,238 2,690 13,017 918 12,099 76,945 2,156 79,101 74,789 3,460 Millstuffs 3,370 3,370 29,966 29,966 33,326 Cement, Brick, etc Meat and Packing Houee Prod. Merchandise Oil Cake and Meal Miscellaneous Total 68,926 33,326 58,817 -68,817 -42,746 16,071 -16,071 1,706 -1,706 11,982 -11,982 13,688 13,688 -13,688 72,432 -3,503 166,096 83,765 72,330 156,197 381,218 68,824 4 6,916 42,746 Livestock 33,326 58,817 4 226,021 6,916 6,920 6,920 6,920 89,329 191,675 13,017 410,848 1,174,367 362,671 69,330 59,589 9,741 33,016 29,740 2,276 102,346 370,011 1248,566 121,448 393,608 162,282 230,226 763,619 Note—Reductions of Commodities reported in. tons, barrels and pounds to cars, are computed upon the following table of equivalents: 10.000 lbs. Merchandise—1 car. 260 bbls. Flour —1 " 40 tons Coal —1 " 20 tons MU1 Stuff? —I " 20 tons Oil Cake —1 " 44 46 TABLE 18 VALUE OF VARIOUS CROPS—MINNESOTA, MONTANA, NORTH AND SOUTH DAKOTA, (000 omitted) WHEAT 1000 1901 1902 1903 1904 1905 1906 1907 1903 1909 1910 1911 $32,451 $48,062 $48,649 $48,750 $59,460 $51,428 $36,271 $62,192 $64,444 $54,811 $60,160 $40,420 $48,938 1,177 1,577 1,460 1,838 2,311 2,019 2,110 3,243 3,185 5,439 6,622 9,470 12,381 North Dakota 7,642 32,028 36,466 34,802 43,653 52,180 49,074 47,963 -62,954 107,439 34,650 65,148 99,236 South Dakota 11,687 27,381 25,065 29,297 24,930 29,569 25,593 28,907 34,833 42,354 41,581 13,468 36,008 Total $52,957 $109,048 $111,640 $114,687 $130,354 $135,196 $113,048 $142,305 $165,416 $210,043 $143,013 $128,506 $196,563 U.S. Total 323,515 Minnesota Montana 467,350 422,224 443,025 510,490 518,373 490,333 564,437 116,826 730,046 561,051 543,063 1912 555,280 OATS Minnesota 1912 1900 1901 1902 1903 1904 1905 1906 1907 1908 1909 1910 1911 $10,058 $22,350 $22,210 $20,643 $22,146 $19,361 $19,443 $25,414 $25,372 $32,864 $27,341 $26,886 $31,96 5,177 5,798 6,817 8,466 7,997 Montana 1,079 2,228 2,401 2,636 2,900 3,177 3,741 5,410 North Dakota 2,016 7,780 7,948 6,772 7,442 10,717 10,931 12,936 13,750 21,743 5,607 21,004 20,948 South Dakota 3,037 6,649 6,989 7,907 6,956 6,464 11,602 12,764 12,872 14,812 10,695 4,900 13,098 Total $16,190 $39,007 $39,548 $37,958 $39,444 $39,717 $45,717 $56,524 $57,171 $75,217 $50,460 $61,256 $74,005 U . S . Total 208,669 293,659 303,585 267,662 279,900 277,048 306,293 235,568 381,171 405,120 408,388 414,663 452,469 (Continued on next page) VALUE OF VARIOUS CROPS—MINNESOTA, MONTANA, NORTH AND SOUTH DAKOTA—Continued. (000 omitted) CORN 1901 1902 1903 1904 1905 1906 1907 1908 1909 1910 1911 $9,220 $16,109 $13,631 $15,476 $15,051 $16,169 $17,051 $21,802 $25,759 $33,270 $30,019 $39,294 $28,925 14 70 59 57 59 52 61 61 85 236 350 424 428 North Dakota 160 699 722 910 766 885 1,626 1,848 2,314 2,718 1,705 4,350 3,766 South Dakota 9,401 13,429 12,223 14,566 15,788 16,001 18,216 21,700 28,838 27,779 21,000 26,935 28,248 Total $18,795 $30,307 $26,535 $31,009 U. S. Total 921,556 1,017,017 $31,664 $31,107 $36,954 $45,411 $56,996 $64,003 $53,074 $71,003 952,869 1,087,461 1,116,697 1,166,626 1,336,901 1,616,145 1,477,223 1,384,817 1,565,258 $01,367 751t220 1900 Minnesota. * Mont an ft 1912 1,520,454 BARLEY Minnesota Montana 1900 1901 1902 1903 1904 $2,765 $9,756 $9,604 $10,280 $10,279 97 365 337 425 324 1906 1907 1908 1909 1910 1911 1912 $9,284 $11,057 $17,864 $15,925 $14,852 $16,191 $26,904 $17,227 281 265 400 534 1,197 903 728 755. 1905 North Dakota 670 2,904 5,710 4,489 4,905 5,798 5,219 9,075 8,432 ' 8,913 2,985 17,404 12,307 South Dakota 479 2,739 3,393 3,517 3,132 2,889 7,331 12,276 11,558 8,960 10,633 4,847 9,686 $4,011 $15,764 $19,044 $18,711 $18,640 $18,252 $23,872 $39,615 $36,449 $33,922 $30,712 $49,883 $39,975 102,290 92,442 93,971 93,785 139,182 223,824 Total U.S. Total 24,075 49,705 61,899 60,166 58,652 55,047 74,236 (Continued on next page) VALUE OP VARIOUS CROPS—MINNESOTA, MONTANA, NORTH AND SOUTH DAKOTA—Continued (000 omitted) RYB 1900 Mjnneosta $435 Montana.. • 1901 1902 1903 1904 1905 $927 $930 $787 $1,055 $845 29 30 29 29 24 1906 $854 1907 1908 1909 1910 1911 1912 $1,079 $1,026 $1,368 $1,251 $3,501 $3,013 32 27 44 54 132 141 North Dakota.,. 34 146 207 158 249 208 204 227 281 272 81 454 406 South Dakota 11 239 283 282 318 296 280 336 330 341 363 99 162 $1,341 $1,450 $1,256 $1,651 $1,373 $1,674 $1,664 $2,025 $1,749 $4,1S6 $3,722 16,910 17,081 15,994 18,748 17,414 19,671 23,068 23,455 23,809 23,840 27,557 23,636 1911 1912 Total TL S/*Total 12,295 POTATOES 1900 Minnesota 4 .. $2,591 Montana 340 North Dakota 753 South Dakota Total U.S. Total 1901 $49 9 1,451 $5,135 90,811 8,523 1902 1903 1904 1905 1906 1907 1908 1909 . 1910 $5,769 $5,466 $4,059 $5,513 $4,486 $6,004 $6,171 $6,440 $6,442 $15,008 $9,261 881 999 1,148 969 1,307 1,350 1,932 2,295 2,550 2,997 2,442 822 976 885 918 1,135 1,490 1,428 1,980 1,306 2,772 1,864 2,520 2,057 2,822 2,344 1,035 1,559 953 4,279 1,240 1,638 2,066 $8,507 $9,000 $7,045 $8,679 $8,168 $10,482 $11,597 $13,235 $12,355 $23,599 $15,911 134,111 151,638 150,673 160,821 157,547 184,184 197,039 206,545 187,985 233,778 212,550