East Oregonian : E.O. (Pendleton, OR) 1888-current, 1911-01-07

covering the entire range
OF operations of the large city bank
which uses every means of gathering
data regarding the industries that
come within its scope and compiling
information regarding the character,
ability and financial condition of its
clients.
This is the foundation on which the
cooperation of the banker may be es-
tablished by the sheepman. The pro-
gress of a successful sheepman is to
great degree attributable to his
following carefully studied and tried
methods which to the ordinary busi-
ness man or the average banker are
incomprehensible. Right there is
where the sheepman neglects his op-
portunity. Facts supported by fig
ures are what the banker wants far
more than general results Put the
livestock industry upon a firm COM
mercial basis and it will command
the support of every financial insti-
tuition in the state.
In the sheep industry as in other
lines it requires more capital as the
sheepman extends his operations and
of recent years with the high prices
for wool and for mutton he has often
been handicapped by lack of capital
to take full advantage of the oppor-
tunities that his Judgment and exper-
ience have pointed out to him. To
begin with, every wool grower should
open set of books, the more simple
the better, but carrying sufficient de-
tail for him at any time 10 show a
! comparison of his present condition
with a given previous date. he
should render statements to his bank
semi-annually - just after the wool
clip and just before beginning winter
feeding. Progress is what the banker
desires to see; an account that stands
still, that does not show headway, is
undesirable and goes begging. With
two or three statements before him
for comparison the banker can quick
ly decide his policy toward the apph'
cant A frank statement open to In
westigation is often the means of es
tablishing a better understanding, in
| spring mutual confidence, paving the
way for an intimacy that develop!
mutual support Having established
the confidence of the banker in him
self as a business man and due re
| spect for the Importance of his busi
ness, the sheep man should purchase
stock in his local bank and when pos
sible, be elected a member of th'
board of directors, affording him
voice in the disposition of the funds
of the bank and an opportunity t
pass on loans. AS most of our coun
try bapks have demand for none!
far belond their ability to suppl!
| during the wool season on account o
harvest requirements and again dur
ing winter feeding, with the addition
al limitations of loans by the stat
and national banking laws the WOO
grower is often forced TO seek outsid
sources for securing money. AS di
rector of his bank, the sheepmal
will have a voice in the selection o
the correspondent city bank that give
his industry the most favorable con
sideration and that may for that rea
son be best fitted to take care of il
Having established a firm credi
standing for himself and a marke
for his paper through the city BAN
he has solved his financial problem
and at the same time assisted in re
lieving his local bank OF one of it
heaviest burdens-financing the GRO
movement-and can turn his atten
ito to the political questions for whicl
possible without appreciating it ha
built UP a strong line of contact from
which he may expect to gain friends
and supporters just as a reasonabl
reciprocation. He will not only hav
established his business firmly, bu
, will have made his patronage valu
able to the city bank carrying the re
serve account of his local institutio
and from which he borrows durin
season, providing an outlet for tn
city banks surplus funds in short tim
loans.
Frequently there is no marked dis
position on the part of either tn
western stockgrower or the banke
to gain an intimate knowledge of tn
condition and environment surround
ing the others business, the STOCK
man looking upon the bank slHhPi
as a place to obtain help in time
need or a place to keep his none
when in funds and the banker LOOK
, ing upon the stockman as one to b
feared and unreasonable in his dc
mands. This may to great exter
be attributed to the free outdoor lif
of the stockgrower, who with a wild
=. range Of experience and success in h
= business constantly broadening n
activities, necessitating his close pei
sonal attention becomes confident
his knowledge of his own ability, fee
ing that the banker should know h
business eually well ana be able
meet any emergency that may aris'
not making allowance for pressul
put upon the bank by men engage
, in other lines of business WI
through daily intercourse are in clo
u er contact. This is in direct contra
u u to the theory of modern commercial
ism and will in the natural course
| events work itself out, but close pc
. sonal contact is the means that wi
quickly resolve itself into cooperate
between the woolgrower and II
. haDker