The Fargo forum and daily republican. [volume] (Fargo, N.D.) 1894-1957, 1910-07-12
BANKERS PREPARE
FOR Short CROPS
NORTH DAKOTA MEN OF FL
NANCE STRENGTHEN RESERVE
AGAINST POSSIBLE STRING
ENcY SAYS THE MIN
NEAPoLIs JOUR-
NAL

Minneapolis Journal: Minneapolis
bankers who attended the annual
meeting of the North Dakota Bankers
association at Valley City which ad-
journed Saturday, found, they said
today, that conservatism has operated
to restrict new loans and strengthen
the reserves Of the banks; a condi-
ton considered favorable. AS early as
June 20, II was found, the banks Of
North Dakota, forseeing in the dry
weather the possibility of heavy crop
losses in portions of the state, began
to operate conservatively. Results are
that they are now able to show re-
sources sufficiently strong to enable
them to meet such conditions as may
arise in the fall.
Bountiful crops will be taken of
some OF the North Dakota farms, the
returned bankers say, for not all the
state is in bad condition. Heavy losses
will fall upon portions Of the state, and
the total grain production will be light
It was found in Valley City that the
people Of North Dakota have passed
the stage oe solicitude. have accepted
the losses in the districts more seri-
make the best OF a poor year and start
in over again next season.
See Spotted Crops.
]. A. Latta, vice president of the
Northwestern National bank; J. s.
Pomeroy, cashier of the Security Ma
tional and p ]. Leeman, assistant
cashier Of the First National, attended
the convention. Mr. Leeman left VAL
ley City for the west, the others re-
turned to Minneapolis.
North Dakota is very spotted"
said J. A. Ltta. "as we found in a
drive from Valley City to Fargo with
stops at Tower City, Buffalo and
Wheatland. We saw only a small por-
ton of the state and that in older set
tied, we'll cultivated country. Even
there, however, we found the greatest
variation, a field that would make a
fair crop often appearing so close to
a field that would not produce enough
to cut, as to make ii difficult to draw
conclusions. There is some good wheat
in North Dakota and we saw some that
will yield proftably. With a large
acreage that may not get back enough
for seed, 1t is not easy to forsee, in
bushels, just what the state will get.
Ready for Harvest.
North Dakota sentiment, as we
found II reflected at the convention is
Iphilosophic. The state has suffered
losses and the feeling now is one of ac-
ceptance of the situation in the best
spirit possible, and making the best Of
it, Some bankers think ii possible that
the final outcome may be better than
the reports so far have indicated. 1t
! is true that some of the wheat is gone
beyond any possibility of recovery, but
there is an important acreage that will
yield fair to good crops and will bring
up the average somewhat"
Bankers Are Prepared.
Bankers have operated on unusually
conservative lines in North Dakota for
some time" said J. S. Pomeroy, "and
we found evidence of a condition re-
sulting that is good. New borrowers
were not encouraged after the crop sit
uation became acute, the banks desir-
| ing to take care OF demand for money
from sources needing 1t for legitimate
business, but not favoring new busi-
ness operations on an extensive scale.
This seems to have been the general
policy and the result is that North Da-
kota faces the prospect Of short
crop this fall with preparation already
made by the banks for meeting the
conditions that may be expected to
| follow.
Il think the summing up of the sit
uation in The Sunday Journal by G. #.
Eve, president Of the chamber Of COM
merce strikes it about right North
Dakota has been hit hard and must
expect to feel the effects, but there are
features in the situation tibet may OPP
crate to make the total losses less SER
ious than now expected"