Bismarck daily tribune. [volume] (Bismarck, Dakota [N.D.]) 1881-1916, 1915-06-17

to carry a portion Of the legal re-
serve Of its customer. The greatest
preventative Of disastrous panics is
the confidence OF the masses. This l
believe the system will in a great
measure bring about. For member
banks to be able to derive the hone.
hts offered. q system Of education
and preparation is necessary, in or
der to enable them to know the class
Of paper eligible for rediscount, and
III accepting such paper, to be pre-.
pared to conform with the act for
r%ediscount. (,
Big Insurance in Force.
No doubt most OF us are fully in
formed regarding the organization Of
the North Dakota Bankers Mutual
Casualty Company, which has been
organized and incorporated under the
laws Of the state Of North Dakota
and under the auspices OF the North
Dakota Bankers Association. The
company has been in operation less
than a year, and during that period
nearly a million. and a half burglary
insurance has been written for Its
members at a premium much less
than the rates exacted by the old
companies, previous to our organiza-
ton; the protection undter this as
sociation being equally as good with
a more liberal policy and stronger re.
serve. It Is gratifying to report that
no loss has occurred during the per
iod of its operation. y,.
& There are at present 1875 bank
organizations and trust companies in
this state, representing total DEPOSITS
OF approximately $S9,000,0 900. Taking
the last official census of u popula-
ton, with the subsequent increase,
there are practically 125,o0o adult
males, the wage earners and bank de-
positors Of the entire state. The ay.
craze deposit in the North Dakcsa
banks Is therefore seen to be fully
s710. per adult male inhabitant. rms
is beyond any question the largest
per capita of deposit Of any agricul.
tural state in the union. 1t Is n OF
the most significant tributes to the
wealth producing capacity OF North
Dakota that could be shown.
1T may not be out of place in this
connection to call the attention OF
our law makers, and others. to the
fact that the same comparatively
small number Of bank depositors are
also the same people who pay by far
the greater cost Of our state govern
ment, and also who maintain our
state institutions, in addition to pay
ing their municipal and county taxes.
.... Urges Economy.
."This comparatively small lumber
of North Dakota tax payers, many OF
them still struggling to get firmly on
their feet, should furnish a powerful
appeal to the members Of the legis-
lature not to indulge in extravagant
state appropriations or to place any
Unnecessary burdens OF the present
tax paying portion Of our population.
~'"All except 90 Of our banks are
members Of the bankers association
sharing the advantages and benefits
offered to our members, Of which the
non-members, through the influence
of the association, also share a part.
/ firmly believe that those banks
which are not members would furth-
er benefit themselves by becoming
one Of us, and assuming their share
of the burden which is small compar-
ed with the benefits derived there
from. = " - '@. ~,,.
Eoosts Magazine.
"The North Dakota Banker" a
monthly magazine, published by the
association free to its members. IS
worth the membership, for the valu-
able banking information furnished
by the members as well as for the
published opinions of the association
attorney, submitted each month, on
legal questions relating to our bust.
!. "The people of the state in their
behalf have secured comprehensive
and eflcient laws regarding the es.
tablishment and operation Of banks.
which laws are designed to SAFE
guard the depositors and also to
throw, protection around the bankers
themselves in all legitimate transac-
tons. ., r.
II desire to Congratulate u asso-
citation and the people Of the state
on the fact that no failure or suspen-
sion Of any bank has occurred in this
state during the past year. Nothing
can speak more %eloquently Of the gen
eral sound condition of our banks or
give greater assurance for the in
creased confidence on the part Of the
public in the banking enterprises OF
North Dakota.
The legal rate of interest has also
been reduced in the interests Of the
public during the present year. But
with every precaution taken by our
laws to protect depositors it is plain
to all intelligent men that the closest
examination Of q banks securities by
state or national examiners is not,
and cannot in the nature of things, be
an absolute guarantee of the sound
ness of the bank. So much more than
is the success and reputation Of our
banks dependent on the bankers
themselves, and on their personal
care and attention to the principles OF
sound banking.
Duplication Of Banks.
There has been some criticism
concerning the establishment of dup.
LEGATION Of many banks with small
sG" xNN1 rRxAy- -. Ah@