Bismarck daily tribune. [volume] (Bismarck, Dakota [N.D.]) 1881-1916, 1913-10-04

Inc new action Of the Nortn Dakoth
State Railroad commission in comply
ing with the statute enacted by the stat.
legislature last winter, in providing n
uniform system Of accounting for all ere
vators, is a marked step toward progress.
This law came into effect following the
last legislative session through the m
nuence of many stockholders among the
farming interests of the numerous farm
crs' elevators of the state who found by
their Inadequate bookkeeping systems
they were not in touch with the volume
of business lone by their Respective cor
poratiOns.
To provide an adequate system Of book
keeping so that every farmer aill stock
holder would know just where The ele-
yator company stood ana the exact
amount of business done during the year.
his law was introduced and passed.
The railroad commission has acted
on the matter and las has been previous
ly stated in The Forum some weeks ago,
has now evolved Il uniform system of
accounting to be recommended to all
elevator CDulI)dlllcS 10 prevent liz urn
crs from being robbed by any scheming
or incompetent bookkeepcrs or employees.
1t has been found that the present
books used in so many elevators are eX-
ceedingly Inadequate and that instead
Of showing the actual. conditions of the
company, do not give the stockholders
any comprehensive grasp of what has
really been done.
In many instances the commissioners
have found the books of companies a lit
cral disgrace and the present system is
an outgrOWth Of a campaign of education
for all the stockholders TO see a good
source of investment in a set Of these
simplifed books.
The laws Of 1918. chapter 1856, re-
quire the railroad commission to plan
and formulate a uniform system of ac-
counting for all public elevators, and re-
commend the adoption of such system
to every firm or corporation conducting
such public elevator. This law also pro-
vides that the commission may, and
whenever requested by Is per cent or
more of the stockholders Of any eleva-
tor company shall install such uniform
system of accounting, and on request Of
such percentage Of stockholders shall
send a competent examiner to examine
the hooks and financial accounts of sucn
elevator. q
1t was not the purpose of this lay 10
subjec 1.-THE elevators Of this state to a!T
arbitrary or captipus surveillance or TO
attempt to dictate to them their method
of keeping their accounts, but it was
rather the object of the Legislators to as
sist those elevators. and especially the
elevators conducted by farmers. who by
reason Of lack Of experience or rush of
business Ia been unable to accurately
F., Keep track offaheir business, and to the
end that uniformity in methods Of keep
ing elevator books would ultimately be
attained. The law provides for the prc-
paration Of a uniform system by an en-
pert accountant employed by the COM
mission.
This matter has been given very care.
full attention by the commission, and the
services of Walter Thomson, member "
state board of accounting, who has had
a wide experience as an elevate expert.
We're secured for the purpose of formula; t
ing a system of accounting adopted to
the present needs of the elevator business
After mature consideration of the report
made by Mr.. Thmpson, the commission
feels confident tina this system will meet
the situation and atffford relief to all
elevators struggling to keep their &C
counts straight.
The commission has caused to be mai
ed to each elevator sample copies of every
blank or book to be used in the system.
together with an explanatory statement
prepared by the expert accountant. The
blanks have entries printed therein
following the explanatory statement and
comparing it with the sample entries
cannot fail to form an adequate and com .
prehensive idea Of the scheme, enabling
him to apply it at once to the concreta
needs of his oWn business. Succinct and
terse directions or rules of procedure are
also set forth which must be studied
carefully and followed closely.
The commission desires at this point
to call particular attention to the use of
scale tickets. \ great deal Of dissatisfa2-
ton has been caused in the past by the
indiscriminate use by buyers of slips or
memoranda instead Of the storage ticket
prescribed by the commission, and man.
complaints about the same have core
to this Office. Upon mature reflection the
commission has deemed it inadvisable and
impracticable to forbid the use of sclle
tickets altogether, but has attempted to