Many Farm Loans

Are Being Liquidated

and Money Is Plentiful

in This Section.

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LOCAL TRADE

TERRITORY IS

EXPANDING RAPIDLY

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Large Number of New Ulm Savings Accounts Indicate People Are Becoming

More Thrifty.

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Financial conditions in New Ulm and vicinity have not been so strong and satisfactory since the big war boom days. The outlook for the future is exceptionally favorable, according to local bankers and financiers. A dependable criterion of the rapidly increasing prosperity of this section is the fact that a large number of new savings accounts have been started in New Ulm financial institutions by individuals during the past year. This is also indicative of thrift, showing that the people are saving part of their earnings for the future.

Another excellent criterion that presages favorable financial conditions for the future is that farm loans are being liquidated.

Prices Good.

The prices of farm products, which are considerable higher at this time than for several years, have added greatly to the bank deposits of the farmers in this section. It has also assisted them in liquidating their loans more rapidly than would otherwise have been the case, should prices have remained at the same low level they were during the past two years.

Crops, on the whole, were favorable in southern Minnesota, and coupled with the rise of prices for farm products, agriculturalists are in far better shape financially than they were a year ago.

Trade Territory Expanding.

Another important fact is that New Ulm’s trade territory is rapidly expanding. Numerous checks issued by out-of-town residents in payment for goods purchased from local merchants are being cleared, and there is a constant and steady growth in the list of towns represented by these checks.

Future Is Favorable.

These very gratifying conditions prompt our business men to look forward to even more favorable conditions in 1925,and the local financiers take the same of one of the best sections of the country, and is bound to continue to backbone of this community, and with level, conditions will materially be on the upward trend.

Prosperity is not confined to this city alone, but the entire community is experiencing good times, as is evidenced by the large number of farm when they become due.

Brown County Journal,

December 26, 1924

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