The evening times. [volume] (Grand Forks, N.D.) 1906-1914, 1913-10-03
INADEQUATE SYSTEM OF Accounting
NHEVATORS RENED|ED BY COMMISSION
Set Of Books and Blanks Formed That Will Provide State
Board With Easy Method of Checking up These In
stitutions-New Law Provided for Work.
The new action of the North Da
kota state railroad commission i

The new action of the North Da-
kota state railroad commission in
complying with the statute enacted
by the state Legislature last winter
counting for all elevators, il Il mark
ed step toward progress.
This law came into effec, following
the last legislative session through
the influence of many stockholders
among the farming interests of the
numerous farmers elevators of the
state who found by their inadequate
bookkeeping systems they We're not
q touch with the volume OF business
done by their respective corporations.
To provide an adequate system Of
Bookkeeping go that every farmer and
stakeholder would nov just where
the elevator company stood and the
exact amount of business done during
the year. this law was introduced and
passed.
The railroad commission has acted
on the matter and. as has been previ-
0usly stated some e ago, has now
evolved a uniform system of account
ing to be recommended to ell eleva-
tor companies to prevent the farmers
from being robbed by any scheming
o. incompetent bo~okkcepers or en-
ployes.
1t has been found tina the present
fSOOHo 10y ia ~ * .
exceedingly inadequate and that in
stead of showing the actual condi-
lions of the company, do not give the
stockholders and comprehensive grasp
of what has really been done
In many instances the commission
ers have found the books of compan-
les a literal disgrace and the present
system is an o%utgroWth of a campaign
of education for all the stockholders
to see a good source of investment in
a set of these simplitied books.
The laws of 1913. chapter 236. re-
Quire the railroad commission to plan
and formulate a uniform system of
n recommend the adoption Of such
eystem to every firm or corporation
conducting such public elevator. This
law also provides that the commission
may. and whenever requested by ff-
teen per cent or more of the stock
holders of n elevator company shall
install such uniform system of ac-
counting. and on request OF such per-
centage Of stockholders shall send a
competent examiner to examine the
books and financial of such
elevator.
1t was not the purpose of this law
to subject the elevators of this state
n or to attempt to dictate to them
their method of keeping their ac-
counts. but it was rather the object
of h legislators to assist those
elevators. and especially the elevators
conducted by farmers. who by rea-
son of lack of experience or rush of
business have been unable to accur-
ately keep track of their business.
and to the end that uniformity in
methods Of keeping elevator books
would ultimately be attained. The
law provides for the preparation of a
uniform system by an expert account
ant employed by the commission.
This matter has been given very
careful attention by the commission
n the services of Walter Thomson,
member of the state. board of ac-
counting, who has had a wide ex.
perience as an elevator expert. were
secured for the purpose of formulat-
ing a system of accounting adopted
to the present needs Of the elevator
business. After mature consideration
of the report made by Mr.. Thomson.
the commission feels confident that
this system will meet the situation
n afford relief to all elevators strug-
Cling III keep their straight.
Tkt commission has caused to be
mailed to each elevator sample COPIES
Of every blank or book to be used in
the system, together with an explana-
tory statement prepared by the en-
pert Accountants. The blanks have