The Ward County independent. [volume] (Minot, Ward County, N.D.) 1902-1965, 1910-08-11
Banker States
True Situation
AN INTERESTING REVIEW OF PRES.
ENT CONDITIONS IN NORTH EA-
kOTA--.BANkSA AND FARMERS WILL
COME OUT ALL THE BETTER.

EN- NONDIIIONS IN NOKIH "a.
kOTA---BANkS AND FARMERS WILL
COME OUT ALL THE BETTER.
From Chicago comes the following
assurance as to the soundness of the
banking conditions in the Northwest:
Compilations of the bureau Of cur
rency from the reports of national
banks are too meagre to be of much
value in getting at the situation in
the interior, where the land activity
has been great and has been more or
less speculative in it's character. AS
a matter of fact, it was the with
drawal Of bank balances at the re-
verse centers that caused the recent
apprehension as to the extent of the
effect of this land movement. So far
interest has centered in the reserve
banks to which the coneroller is de-
voting mis- attention first, but only fig
ures as to loans, individual deposits
and percentage Of the reserve have
been available. The reserve feature
shows up very we'll.
Minneapolis shows 1899, compared
with 22.87 at the end Of March, and
24.41 a year ago; St. Joseph, Mo-,
1891, compared with 1892 and 1851
st. Louis 24.99, compared with 22.36
and 1881; New York City 25.97, COM
pared with 25.76 and 27.27; Milwaukee
1858, compared with 1880 and 1852;
San Francisco, 27.28, compared with
29.45 and 1851; Oklahoma City $3.50
compared with 27.46 and 27.55; Hous-
ton, Texas, 27.s3, compared with 80
and 1852.
Banker Describes Crop.
Conditions Of the northwestern crop
and the banking situation are closely
allied subjects just now, and much Of
an interesting character comes into
the larger reserve cennter banks. One
letter written by one Of the foremost
business men of North Dakota who is
also banker and he is we'll known
both here and in the east for his con-
servatism and business Judgment to,
the Continental National of this city
is worthy Of reproduction as reflect
ing conditions not only in the north
west. Int elsewhere
The correspondent says:
II have no doubt that you have re-
ceived all sorts Of reports regarding.
crop conditions in North Dakota and
feel sure that the dark side of the
question has been fully present to
you from various sources, and that
tuere are plenty of persons who would
have you believe that North Dakota
is ruined community and it's poo
pie on the point of starvation; and :
have no doubt that yru will be re-
lieved to know That there is a bright
side to the question and that VIC ex-
pect % have three good square meals
a day and a little spending money FOR
a good many years to come.
Short Crop May Prove Blessing.
Undoubtedly this state will pro
duce much smaller crop than it has
done for a good many years: but if
North Dakota after nine fat years,
cannot stand one lean one, then our
condolences have been misplaced. and
the sooner we find 1t out the better
it shall be for all concerned. l have
as much at stake as most people in
North Dakota, and I believe I am
fairly conservative, but I have been
in the game rather long time, and
am in close touch with men who
know, and I want to tell you that the
short crop in NORTH Dakota is not half
the calamity that people would have
you think, and that I am not 50 sure
but that it will prove q blessing in
the end. as. n...
Suppose We raise 40 or so per cent
Of crop, or say 100000 bushels.
In 1900 North Dakota raised $1,000, 900
bushels Of wheat: and, as 'remem-
Der, the price was between 65 and Is
cents. Certainly it can stand a short
crop now better than it could ten
years ago. Another thing you must
not forget, and that is, that crop con-
ditions at this time of the year are
always over-estimated, either for good
or bad. A big, heavy stand Of grain
rarely yields as much as Is expected;
whereas a dry year like this one near
ly always produces better yield and
a higher grade than appearance would
Indicate.
Furthermore the half Of the crop