The evening times. [volume] (Grand Forks, N.D.) 1906-1914, 1913-06-17
SUPPORTS plan
OF BANKING BOARD
Contends That Proposal to
Control Establishment q g.
Institution is Sound.
MORE SHOULD AID
IN FARM MOVEMENT

Would Have Committees to Confer
With Other orsanizations-splen.
did Attendance is Accorded the
Observation-Disclosures Report.
Several hundred North Dakota
bankers are participating In the
eleventh annual convention which
opened in Grand Forks this morning,
sessions being held in the. city hall
with President r. s.. Adams presiding.
This morning. after the gathering
had been called to order. Mayor M. =.
visitors. w. T. Crawford Of Sentinel
Butte responding. The. enrolment Of
the visitors and other convention pre-
Nminaries were also cared for this
morning.
President R. s. Adams annual adj
dress was one Of the principal fea-
lures TO-DAY. He discussed the activi-
past year, taking UP some Of the fea-
lures In detail.
Sees Little Trouble.
Mr.: Adams. discussing general H.
nancial conditions in the United
country would adapt itself to the new
tariff legislation with little stir. The
year in North Dakota, he said, had
been one Of the most prosperous in
the history Of the state.
He showed that the memberShip Of
the association had increased greater
than the increase in the number Of
banks. the latter being comparatively
small. Six group association meetings
have been held during the year. and
3, he contends that these gatherings are
exceptionally important.
Hopes for Better Taxation.
Mr., Adams says that the tax COM
Inittee has been successful in placing
before the tax camrnission and the
board Of equalization certain facts re-,
stocks which mo- baiieves viii result in
Gnspres eaaIitAb Bile Assessment Of such
stock. He coYitendssthat the assess-
ment has been for many years out OF
all proportion to the assessments
against other moneyed capital.
President Adams urges that the
members secure their burglary insur-
ance through the association, pointing
to the fact that such commissions
help finance the work of the organi-
cation.
Support Of the better farming asso-
citation. commentator Of the action
taken by the state banking board in
reference to controlling the location
lation and discussion Of currency
reform. also featured Mr.. Adams adj
dress. On these several subjects, Mr..
Adams said:
Blue Sky Law Helpful.
1--WE are fortunate in having had
an active committee and one well
versed in legislative matters. While
considerable of the legislation propos-
ed by them did not become law, still
much was accomplished and desire
at this time to call attention particu-
larly to one or two measures which
1t seems to me are Of importance to
uS. One Of these is the blue sky law
which while not all that could be de-
sired. is a long step In the right direc-
ton and will go far towards protect
ing the unsuspecting investor as well
After few years of active operation.
this law can undoubtedly be much inn
proved by amendment.
Laws were passed governing the
amount which banks may invest in
banking house furniture and fixtures
and permitting banks to hold twenty
five per cent Of their loans and dis
Killed bad Legislation.
perhaps this committee accom-
plished as much in the way Of killing
pernicious legislation as in passing
that which was beneficial.
''It seems to me a matter Of regret
that the measure introduced In the
house and defeated there, which at
tempted to give to the banking board
the power to control the multiplicity
Of banks and the location Of banks
where there is no necessity for bank
ing facilities. did not pass. for I am
convinced that in many instances
banks have been located where there
is no necessity for them and in num-
erous instances two or possibly three
banks have boon located In small.
towns where there Is scarcely room
for one. While these numerous banks
may be able to exist for the present.
there is the day of reckoning coming
when some must succumb and 1t Will
then become q case Of the survival OF
the fittest.
Approves Boards Action.
''It has no doubt come to your at
tention that the banking board Of the
state has assumed the authority Of
controlling this situation, and whether
strictly within the iimits Of law or not.
believe they are entitled to our COM
mendation for the firm stand they
have taken and trust they may have
the moral and financial support OF
this association. II necessary.
School Savings.
The matter Of schools savings
banks 10 attracting much attention in
many Of the states and believe this
ie a smeritorious movement and trust
II may receive favorable attention at
your hands. AZ you are later to listen
to an address on this subject by N. r.
Iawley Of Minneapolis, will leave
the discussion Of this question to fol-
low his address.
Bcttef Farming. .5i
ssg s'As you are all aware. some two
years ago the business interests Of
Minneapolis offered to contribute 81
Tor every dollar the state Of North Da-
kota would furnlyh for the purpose Of
ENCOURAGING q movement in the direc-l
lion Of Better Farming Methods. They
appealed to the North Dakota Bank
erS association tos tGks this matter upl
ana co-operats Mith them, which Wasl
done, And the work OF orEanixin9 the
Better IN q aOyesnA Ant In several
4of the couAti4S ~ coinmsncSd ands
onsins,s n ~ laGe s.