The evening times. [volume] (Grand Forks, N.D.) 1906-1914, 1913-02-19

River
vice, President-v. e. Bemis,
Inkster.
Secretary and Treasurer. r.
Carlcy.
Executive Committee-H. N.
johnson, Lankin; G. II. Green,
Cavalier; b. Prom, Milton; r. ID.
Sevcngal, Lakota; S. TOrgcrs0n,
Grand Forks.
The committee on resolutions
will report tonight.
The second annual meeting Of the
northeastern district group Of the
North Dakota Bankers association is
being held in Grand Forks today. The
group comprises Pembina, Cavalier.
Walsh, Nelson and Grand Forks oun
tics.
At the morning session, which was
III the auditorium of the Commercial
club. the address of welcome was
made by City Attorney ]. 3: Wineman
in the absence Of Mayor NJ. F. Muir
'pny. a fitting and at times humorous
response was made by A. Mcdonald,
of Walhalla. on behalf of the bank
ers. and an interesting talk on the OUT
look Of the banking situation vas
made by DIR. NJ. Jacobstein. professor
OF economics at the university.
In welcoming the bankers to Grand
Forks Mr.. Wineman did not forget to
throw a few compliments to the city
he was representing. He put 1t at the
top OF the list. as being the most pro-
eressive city of the northwest and pos
sessing some of the best banking in
etitutions in the state. He said lie
was proud of the city and its many
improvements. and he solicited inspec-
ton on h part Of the visitors. The
city, hall he. designated as being the
best in h northwest and built for the
least money. a fortunate condition for
which he credited the city bankers.
lighting came in for their share of
praise.
Bank is Commercial Pulse.
Mr.. Wineman said tina the banker
vas generally the most prominent
man in his community. The bank, he
said. was the commercial pulse, the
financial center of every community.
1Ie also made brief mention Of some
OF tho bills which the Municipal
league had been the means Of intro
ducing in h state legislature and in
which ne believed the bankers would
feel a strong. interest. These were the
bill providing for cities performing
their own work in cases where it was
believed that the estimates Of private
contractors was eXorbitant, the bill
allowing cities to. erect their own
plants for electric light. power and
gas. n the bill giving cities authors
ty to build their own slaughter-houses.
Debt to Grand Forks. Bankers.
q In behalf of the bankers Mr.. Nc
Donald said that he felt their welcome
was sincere. He said that the country
bankers. owed more to the Grand
Forks bankers than they did to those
outside the state. Today Grand Forks
was coming to be recognized as a fl
nancial center. The last bank state
Grand Forks banks close to the mil
lion-dollar mark. He felt sure that
the country bankers highly appreci-
a:ed all hat Grand Forks had done
for them in the past,
Big Percentage are Members.
The secretary's report showed that
there were 100 banks and trust ON
panies in the group Of five counties, Of
which sc were members Of the as
kociation.
Dr. Jacobstein's subject was What
Tan We Expect from Our Democratic
Friends" He said there was much
speculation as to what Wilson was go
ms to do, and it was unreasonable to
SSPSNS kA0 0uA IdIlS IICIuS
could do in four years what the re-
publicans had failed to do in fifty.
People DO Not Understand banking.
The banking problem. he said, was
not, q popular n because 1t was not
generally understood by the man in
the street. For this reason the demo.
Gratis would probably first tackle the
tariff and the trusts. He believed,
however. the democrats would further
r,rronrN, and hoHk{n~ r,rouna TL>,,
had always opposed a central hank.
IT was a tradition with them seventy
five years old. But in. the last five
years there had been more accom-
p]ished In the way IF Investigation of
banking systems in this and in foreign
countries than there had ever been.
and the democrats would surely take
advantage of this situation.
Provisions About tho Same.
DR.. Jacobstein said Of the recon-
mcndations Of Chairman Glass of the
house finance committee that the
three chief provisions were practical
~ the same as those OF the monetary
commissions bill. commonly known as
the Aldrich bill. These were the sub
stitution Of the present bond-sccured
currency. a note Issue based on COM
mercial credit. and the machinery for
r~ediscounting commercial paper. Two
of the original points of the nil wore
h guaranteeing of deposits and the
establishment Of an unincorporated
central association.
Before ad%journing for the noon re-
cess President II. N. johnson Of the
association appointed a committee on
resolutions. consisting of A. I. Hunter.
Grand Forks: F. d. Argue, Hamilton,
Ind c. f. Green. Cavalier.
Afternoon Scsslon
At the afternoon session which will
be in the large council chamber OF the
city hall. there will be an address by
President McVcy Of the university, the
! reports of committees. the election Of
tDmcers and, . round tabls discussion