The Sauk Centre herald., 1909-06-10

NJ. T. Dunn, president of the Citi-
zens' State Bank of Brainerd! The
stage and hall were tastily decorated
with large American flags. Rev. J.
T. B. Smith offered prayer and DR.. j.
A. Dubois extended the formal well
come in behalf of the city, speaking
in his Enthusiastically happy vein.
G.. D. LaBar, president of the First
National Bank of Brainerd, replied
briefly in a similar vein.
President Dunn then delivered his
annual address. He opened by saying
that: ''Since we last met, the
troublesome postal savings bank sys-
tenn on one side and guarantee of
bank deposits on the other, have been
met by the banks of the sixth district
by choosing the lesser of two evils,
and that in view of the worst panic
we have had in many years" There
were no bank failures in the district
during the year, and Mr.. Dunn be-
lieved the country is surely returning
to better times. The recent panic,
he held, has been the means of show
ing many customers that all were get
ting in too much of hurry to make
money, and hence to avoid drift
away from conservative methods. On
May l, according to Mr.. Dunn, there
were 80 state and 32 national banks
in the association. He believed the
new state department of banking
would be good thing; thought the
sixth district group the best bunch
in the state and closed by thank
ing the members for their cordial
support during the year.
Jas. Chapman, Jr., president of the
Minnesota Bankers Association, in
his address, said that his observations
at three of the district group conyen-
tions this year, showed that those
bodies had devoted much less time to
the discussion of the exchange, inte-
rest rates and similar questions, and
had talked of the best means of deve-
Looping the resources of the state.
Mr.. Chapman paid high compliment
to Geo. Welch, commissioner of i'm
migration, for his work along these
lines. He deplored the drifting of
young men from the farm to the city,
holding that the large cities of Min
nesota have outgrown the country
and the latter needs developing. The
country banker, he asserted, should
use his influence to stop this tide set
ting to the cities and help develop
local resources. Mr.. Chapman said
there are now 800 banks in the state
association, while ten years ago there
were only 15O. Bankers should CO.
operate to secure beneficial legislation.
He hit slap at the doctrine of guar
antee of bank deposits by saying that
each bank should stand on it's own
bottom rather than help pay losses
incurred by the bank across the way.
State Senator G. J. Gunderson talk.
ed entertainingly for half an hour on
the topic: "The Banker In Politics"
He held that the true politician
strives for the best in the science OF
government, to. make others better
and to endeavor to see that every man
gets the fruit of his labors. 1t is the
bankers business, said the sena-
tor, to take a vital interest in the
welfare of the people, to work for the
best form of government and to exert
himself to promote the best interests
of the community. With these ends
in view he held that the banker
should take an active interest in
politics. The banker should study
questions of public policy in order to
intelligently understand the wants of
the people.
Chas. r. Frost, secretary Of the
Minnesota Bankers Association, then
outlined banking legislation enacted
by the 1909 legislature, and urged all
to attend the state meeting at
Minnetonka.
Several members were called on for
remarks, among them Hon. w. E. Lee
of Long Prairie, who held that a
bank should be so conducted that the
people will believe their money is
safe with it, and that man if honest
and intelligent will be taken care of
when in financial distress.
The afternoon session closed with a
round table discussion conducted by
w. w. Smith, cashier of the First
National Bank of st. Cloud, during
which numerous topics of technical
interest to a banker were considered
and many good points made.
After adjournment the delegates
|were given automobile rides around
the city and suburbs and taken in
launches for rides on Sauk Lake.
In the evening the delegates were
rendered banquet at the Palmer