East Oregonian : E.O. (Pendleton, OR) 1888-current, 1911-01-07
BANKER URGES
MORE COOPERATION
TELLS WOOLGROWERS TO
STATE CONDITIONS FRANKLY
+. e. Freeman of Lumberman's Ma
tional Bank Delivers Address Be-
fore Oregon Wool Growers Conven-
ton.

fore Oregon Wool Growers Conven-
ton.
cooperation Between the Wool
grower and the Banker" was the
subject of the following address de-
livered Tuesday in Portland before the
state convention of oregon sheepmen
by F. A. Freeman, assistant cashier OF
the Iumberman's National Bank Of
Portland. 1t is published at the re-
quest Of Dan P. Smythe, secretary Of
the state wool growers association
who declares "the matter in this sub
ject is of great Importance to the WOOL
grower at large and long step in
the right direction"
Among the prominent subjects OF
the day being discussed by the WOOL
growers are financial conditions, tar
if and forest reserves. The one is
universal topic, the others have been
brought vividly before the public by
impassioned speeches of professional
politicians and today there is a great
deal of unrest in the West over the
radical actions of the departments
and anticipated radical legislation to
the disadvantage of the West by con-
gress which has brought about
sense of the necessity for cooperation
of Western interests and particularly
co-operation between the woolgroweI
and the banker. The latter is ready
to go more than half way and to best
further his interests the woolgrowel
should identify himself with his loca
bank.
This day of modern commercialisn
is a day of specializing and concentra'
ton. This condition makes necessity
for more detail, more energy, more
modern methods on the part of the
Western sheepman, cattleman, manu-
facturer, banker and business man II
whatever line of trade. There Is evel
a process of evolution and progress
sion, a movement from East to Yves
and the Western business man II
whatever business he may be engage
can profit by the experience born o.
success or failure in the East where
the total volume of business is 81
enormously great.
Livestock Builds Cities.
The livestock industry is the foun
dation on which Chicago, Kansas City
Omaha, st. Joe and in fact every larg,
packing center was built. 1t is to
day looked upon by Eastern banker
as one of the NOSE desirable classe
of business obtainable, embracing a
it does, packing house, cattle, sheel
and hog business. Feeder paper a
it is called is looked upon with par
ticular favor by Eastern banks an
if based upon the right proportion o
security there is no more desirabl
class of paper for a bank to hold.
A bank that has a diversified clas
of business, if properly administered
is in the best position to take care o
its customers and on the whole
destined to be the most successful
Seasonable accounts are the most at
tractive to a bank and the wool grow
ers have the means at command I
place their banking business anon
the most attractive and the most de
sired of all, having as one may say
three crops a year, lambs, wool an
mutton and an every day market. B
seasonable accounts is meant bust
ness that, borrows in season and tha
may be depended upon to clean up it
loans at intervals more or less regu
lar, permitting loans to be made t
other customers out of the same fund:
The Oregon woolgrowers' are in
nesition to make their paper as at
tractye locally as any commercial pa
per handled by banks and brokers
in the East paper that has the rep
utation Of being met promptly at Hla
turity is always desirable and durin
ordinary conditions is in demand
When such paper does not meet wit
ready sale the makers are right in in
terpreting the financial barometer
read slow down and dress up.
New Livestock Era.
Recently there has begun a ne
era in the livestock business throug
the establishing of big packing plar
in Portland. the forerunner of gref
development in that line.
This again affords a new field fc
banking and assists toward the solt
ton of the oregon woolgrOwers' finar
cial problems furnishing the basis VI
on which they may expect to secul
the cooperation of the banker pollt
cally as well as financially. Former
a Western bank was run entirely
its cashier, he making all loans fro
personal knowledge Of the conditio
of his customers finances, but II
great influx Of people from the ou
side with the opening Of great trac
OF land, which have been quick
settled, and the establishing Of nun
erous entirely new industries in h
vicinity have combined to make II
lot Of the old time banker who d.
pends upon his intuitive instincts alor
hard one. Today every proper
equipped bank has more or less e
ahnrate credit system. ranglnP fro