The Fargo forum and daily republican. [volume] (Fargo, N.D.) 1894-1957, 1910-07-20

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
been great and has been more or less
speculative in it's character AS a
matter of fact, it was the withdrawal
OF bank balances at the reverse CEN
tiers that caused the recent apprehen-
sion as to the extent of the effect of
this land movement. So far interest
has centered in the reserve banks, to
which the controller is devoting his at
tention first, but only figures as to
loans, individual deposits and per-
centage of the reserve have been
available. The reserve feature shows up
very well.
Minneapolis shows 1899 compared
with 22.S7 at the end of March, and
24.41 year ago; st. Joseph, Mo-,
1891, compared with 1892 and 1881;
ST. Louis 24.99, compared with 22.36
and 1881; New York City 25.97, COM
pared with 1915 and 27.27; Milwaukee
1888, compared with 1880 and 1882;
San Francisco 2Z2S, compared with
29.45 and 1851; Oklahoma City $3.50
compared with 2746 and 27.55; Hous-
ton, Texas, 27.S3 compared with 80
and 1882.
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 center banks. One
letter written by one Of the foremost
business men of North Dakota who is
also a banker and is well known both
here and in the east for his conserva-
tism and business judgment to the
Continental National of this city is
worthy of reproduction as rejecting
conditions not only in the northwest
out elsewhere.
The correspondent says:
81 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 presented to
you from various sources, and that
there are plenty of persons who would
have you believe that North Dakota is
ruined community and its people on
the point of starvation; and have no
doubt that you will be relieved to
know that there is a bright side to the
question and that we expect to have
three good square meals a day and
little spending money for good many
years to come.
Short Crop May Prove Blessing.
Undoubtedly this state will pro-
duce a much smaller crop than it has
done for 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 it out the better it
shall be for all concerned / have as
much at stake as most people in North
Dakota and I believe am fairly con-
sentative, but have been in the game
rather a long time, and I 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
am not so sure but that 1t will prove
a blessing in the end.
Suppose we raise 40 or so per cent
OF a crop, or say 100000 bushels.
In 1900 North Dakota raised 100000
the price was between IS and rs cents.
Certainly it can stand a short crop now
better than it could ten years ago. An