Willmar tribune. [volume] (Willmar, Minn.) 1895-1931, 1912-12-18

bankers of the state could or would
adjust themselves to the present con-
ditions so the farmers could obtain
the necessary money at reasonable
rate of interest but if thew did not he
said he could assure them Coop
erative bank was an assured fact.
In explaining the system he said it
was customary for Is or 80 farmers
to get together and form co-opera-
tive society. The united personal
credit of the groun was back of the
individual. No one outside can get
| in. He said he did not think it was
necessary to have a separate Coop
erative bank, unless the bankers
should find themselves unable to meet
these conditions.
The object Of the mortgage bank
system of Europe is to, make it pos
sible for the farmers to make long
time loan, paying the interest and
paying something upon the principal
from time to time.
Dean Woods said he was merely
explaining the systems under discus
sion, but was not advocating any
radical changes in the banking syS
tenn, realizing he said, that banking
systems could not be safely changed
over night.
F.. Il: Stone of Benson said that
the bank with which he was connect
ed was willing and was already loan
ing money at low rates Of interest
from 512 per cent to 612 per cent
with the privilege Of paying 500 or
multiples of 800 on any interest
|day, and did not believe western con-
ditions were adapted to the Coop
erative system.
| At the close of Mr.. Stones re-
marks, Mr.. J. M. Monson expressed
the opinion that the States money
might be loaned to the farmers at a
low rate of money. Mr.. Hughes call
ed attention to the fact that the peo-
pie had chance to vote in favor of
the state doing this, but the measure
failed to get sufficient votes to carry.
The subject also called forth some
spirited remarks from Mr.. wye, a re-
porter for the St. Paul Dispatch.
At the close Of the afternoon SEES
: sion President Murphy announced
e 1.-The following committees:
Organization c. Thornton
Benson; F. F. Marshall, Wheaton
= and j. H. Sherlock, Graceville.
. Ways and Means-F. L. Stone
. Benson; J. H. Erickson, Clinton; j
H. Deveney, Morris; C. R. Wright
y Fergus Falls; A. l.. McCarger, Mon
ltevideo.
Resolutions-E. J. Jones, Morris
V. E. Anderson, Wheaton; L. O
Thorpe, Willmar; Charles Phinney
Herman, and J. s. Inland, Fergu
4 Falls.
~ Mr.. J. II. Sherlock in a neat speecl
invited those present to attend tn
" next meeting of the Associatio
., which takes place at Graceville Eel
4 1914.
IS RECEPTION AT CARLSON HALL
st From the courthouse the delegate
= and visitors we're escorted to tn
,r Carlson Hall where refreshment
J were served by the Willmar CONNER
cial Club and a social hour wa
spent. More than three hundred pal
=, took Of the hospitality offered and Q
20 Saturday there were about two hun
n dred who were served coffee, sand
u, wiches, cake, etc., at the same plac
The committee in charge of soci;
end Of the work was Messrs. A.
!, Hanscom, L. A. Void and DR.. c.
~, Gerretson. Mrs. James Sandersc
of directed the serving Of refreshment
Of ILLUSTRATION BY PICTURES.
s. At 6 80 o'clock the delegates a
It. tended a session at the Dreamlar
in Theatre where Bert Ball, secreta7
of the crop Improvement committ'
an of the Council of Grain Exchange
or of the country, explained the syste
he by which aid is given the counties f
Or. the purpose Of assisting them in Il
h. developing Of agriculture, and illu
~ trated the needs for and details
lie the movement with q number of i
he 'terestino slides.