reaching relatively low levels in 1925. Present reported values are still close to 

 these levels. 



MARCH 1 REPORTED VALUATIONS PER ACRE MONTANA FARM LANDS 



1920 1925 1926 1927 1928 1929 1930 



All farm lands improved $42.20 $23.50 $27.00 $23.30 $25.20 $27.00 $23.50 



All farm lands unimproved 32.00 15.00 19.00 16.51 17.50 19.50 15.50 



ASSESSED VALUES MONTANA FARM LANDS* 



The assessed values of Montana farm lands in 1929 showed a further decline 

 in case of irrigated lands which have been dropping steadily since 1923. Non- 

 irrigated plowlands following some increase in 1927 and 1928 dropped slightly in 

 1929 as did also grazing lands. The following table shows assessed valuation for 

 1929 compared with preceding years. 



ASSESSED VALUES PER ACRE OF MONTANA LANDS 



1923 1925 1926 1927 1928 1929 



Irrigated farm lands $51.15 $50.95 $50.80 $48.89 $49.09 $47.08 



Non-irrigated tillable lands 13.47 13.44 12.86 13.16 13.19 13.01 



Grazing lands 6.08 4.95 4.82 4.62 4.62 4.58 



♦Data from State Board of Equalization. 



BANK DEPOSITS IN 1929 



Montana bank deposits and resources in 1929 reflected the reduced returns 

 to agriculture according to the record of George M. Robertson, state bank exam- 

 iner. The total resources of 67 national banks, 127 state banks and 1 private bank 

 at the close of business on Dec. 31, 1929, aggregated $189,000,000, compared with 

 $208,000,000 for 1928; $193,000,000 for 1927 and $176,000,000 for 1926. 



Similarly deposits which were $185,000,000 on Dec. 31, 1929, were about 

 $20,000,000 less than a year ago and $6,000,000 less than two years ago. Compared 

 with 1926, however, they were $15,000,000 larger and $51,000,000 larger than on 

 Dec. 31, 1925. 



The number of banks declined slightly during 1929, compared with 1928 due 

 to consolidations. 



Year National State Private Total 



1927 73 132 2 207 



1928 71 130 1 202 



1929 67 127 1 195 



Population per bank which was 1,276 people in 1920 has continued to increase 

 during the post war years and is now about 2,700, or more than double the 1920 

 number. 



The average deposits per bank at the end of 1929 were about $846,150 com- 

 pared with $918,186 in 1928 and $826,927 on December 31, 1927. 



SALES OF FARM MACinNERY IN 1929 



Nineteen-twenty-nine sales of farm implements and machinery as reflected 

 in the Montana Railroad Commission's records of cars shipped into the state show 

 a sharp recession from the high mark recorded in 1928 but were almost equal to 

 those of 1927 and higher than any preceding year back to 1921. 



Shipments declined sharply during the last half of 1929 and were only 62 cars 

 in August, 1929, compared with 129 cars in August, 1928. The drought, the effects 

 of which were apparent in August, 1929, curtailed the demand for new equipment 

 on part of farmers which was quickly reflected in the movement of such equip- 

 ment from factories to dealers hands. 



Montana farmers have made extensive replacement of old machinery during 

 the past five years, as well as purchasing considerable new labor saving, powered 

 farm machinery. Sales of tractors, combines and cultivators have been reported 

 unusually heavy during 1926, 1927, and 1928. 



MONTANA IMPORTS OF FARM IMPLEMENTS* 



Year No. of Cars Year No. of Cars 



1921 249 1927 328 



1925 196 1928 445 



1926 271 1929 826 



^Records of Montana Railroad Commission, 



