East Oregonian : E.O. (Pendleton, OR) 1888-current, 1911-02-22
Purpose of Meeting.


This meeting has been called, as l
understand it, for the purpose of pro-
noting closer relations between the
various interests in this community.
The financial interests of the COM I
munity are so interviewer that what |
affects one interest affects them all.
The purpose of the organization of |
the Farmers Union, as l understand |
it, is to secure the best markets pos
sible for your products and to enabse |
you to purchase supplies, machinery |
and merchandise at the lowest pos |
sible prices.
The purpose of the Credit Mems |
association, as 1 understand it. is 10
protect its members against the un-
scrupulous and insolvent debtor aad
to give proper credit rating to the in
dividual members of this communi-
ty.
The purpose of the organization
of the Commercial Association of
Pendleton is to promote the best in
terests of Pendleton and its surround
ing territory. These various organ
izations depend primarily for their
suctess upon the officers and upon
their adherence to the principles and
purposes of the respective organiza-
tions. The purpose of the CONNER
cial association being for the best in
terests of all affords common ground
upon which these various organiza-
tions can meet. The members of your
union can we'll afford TO belong to this
association. Practically all the mem
bers of the Credit Mems association
already belong to it. If the members
of the union do not deem it advisable
to join the Commercial association,
more frequent meetings of this ma
ture would work to the advantage of
all
Credit.
In this community we have two
classes of credit; the commercial
credits and the bank credits. The
commercial credits are those extended
to the farmer and stockmen by the
merchant. The bank credits are
those extended to the farmer, stock
man and merchant by the banker.
Our system Of credits in the west is
rapidly changing. The old order of
yearly settlements is rapidly passing.
Situated as this community is be-
tween large farming interests on one
side and the large stock interests on
the other. with the mercantile inter-
ests between, the banks in this COM
munity have a constant demand for
loans. The operations of both these
interests are on a large scale, requir-
ing a larger individual line of credit
than communities where diversified
farming, dairying and fruit raising
prevail. For this reason 1 feel that
each of these interests owes a duty
to the community as whole, outside
of its duty to itself, and that is tC
market your products in season and
not 10 speculate at the expense O
every other interest.
Under normal conditions the stock
man disposes of his products in th'
spring and the farmer in the fall
Under these conditions the funds fol
the legitimate needs of the commu-
nifty are ample, but when one O.
these interests fails to market hi!
products in season the money mar
ket tightens, working a hardship or
all. The merchant to maintain nj
credit must discount his bills. Th'
same basis by which the Credit Men!
association rates your credit, Mr.
Farmer and Mr.. Stockman, is applied
to him by the wholesale houses Will
whom he deals. The merchant VIII
does not meet his obligations prompt
" and who does not discount hi
bills, finds his credit impaired an
finds himself listed as an undesirabl
customer. The banks today are re
quired to limit their loans to shorte
time periods than in the old days
They are prohibited from making in
vestment loans as capital to both tn
merchant and farmer as well as IN
stockman. The banks standing in tn
community is based upon the clas
OF loans which it is carrying. If yo