Grand Forks daily herald and the evening times. (Grand Forks, N.D.) 1914-1914, 1914-07-02
IS SUBJECT Of
ADDRESS TODAY
Minneapolis District Bank
will be Strongest in u.
S., Says Mcdowell.
THINKS SYSTEM
WILL BE SUCCESS
Hanna's Appointment as Member OF
Board is Lauded-His knowledge
of Financial Conditions in North
Dakota Will be Big Help.
lRx Staff corresnondent, ,

Williston, N. D.. July 2.-The Ninth
district reserve bank came in for at
tention at the hands of the North Da-
kota Bankers association at the
morning session here today w. G.
Mcdowell. of Marion. N. D., leading
the discussion, declared his belief that
the Minneapolis bank would probably
be the strongest and most conserva-
lively managed institution in, the
United States.
That the reserve bank would not
disrupt the present relations of the
small country bankers with the banks
in the larger centers, such as the
is McDowell's opinion. He believes
that the banks will carry reserve as
great as that demanded by the pres
ent laws. keeping the legal reserve In
the district bank, with the balance in
the banks with which the smaller
banks have previously done business.
No Extensive Land Collateral.
Dealing with the real estate and
loan features, Mcdowell does not ap-
prehend that the bankers will deal
extensively in such collateral The
danger in the new reserve system, as
viewed by Mcdowell, is that some
banks may use up their credit in times
of plenty, and thus have nothing left
on which to work when there is
Mr.. Mcdowell does not fear politi-
cal control. and, while he believes that
Wilson's appointment board is slightly
theoretical, still, with a balance wheel
created by the advisory committee, he
sees no danger to the bankers.
Praises Hanna's Appointment.
Governor ,Hana's appointment as q
member OF the banking board OF the
Minneapolis district was lauded. Nc.
Dowell believed that his intimate
knowledge of the condition Of North
Dakota banks is such that he will be
In a position to accomplish the great
est amount Of good for the state
bankers, JUST as the postal savings
was inaugurated without any stir in
the financial world. He believes the
new system will be taken up.
Chas. L. Hill, of Rosedale, Wis, ad-
dressed the convention this morning
on Agriculture Of the Isle of Guern-
sey.' while Fred w. Ellsworth, of
New York. addressed the convention
on THE Banker as An Advertiser"
Williston. \. D, July 2.-williston
entertained the North Dakota Bank
ers' association in an elaborate man
ner last night, dining the members
after giving them an interesting auto
tour of the surrounding district.
The auto tour was revelation to
the bankers. They visited the state
experimental station, the w. c.
Palmer dairy farm and government
irrigation project and at each place
the visitors were afforded opportunity
to make inspections of work carried
on. The banquet was served in tbs
beautiful new Congregational church,
recently completed, and three hun
dred were seated at the tables in the
dining hall. Following the dinner, an
extensive toast program was carried
out, the speakers including numerous
prominent state residents.
Interesting Session.
Yesterdays sessions of the associa-
ton were unusually interesting. The
morning was given over to business
work. while the afternoon was given
over to addresses by Frank Sanford
of Valley City, N. D., who discussed
stock raising and farm accounting
from his viewpoint, gained by actual
and successful experience in this
state.
Guarantee of Deposits.
L. E. Phillips. of Bartlesville.
Okla. addressed the convention on
the guarantee of bank deposits. Com
ing from state where deposits are
guaranteed. his remarks were more
than ordinarily interesting. He is
opposed to the plan, maintaining that
1t has not worked out successfully in
his state.
Extended discussion took place on
the proposed constitutional amend
ments submitted by the committee.
These are designed at bringing the
constitution down to date and more
in accordance with present day de-
mands.