The Mena weekly star., 1918-02-07
MODERN BANKING, | HELPFUL BANKING
Virgil C. Petite, President of Che Ar kansas Bankers Association. Tells of a Remarkable Suc-
 cess and How Attained.
From The Arkansas Gazette.

| From The Arkansas Gazette.
 Between June 30 and December 3i last the deposits of the Bank of Jonesboro increased Si,000,0 ,000-a spectacular jump even in these
 times of prosperity in Arkansas. It
 so happens that the active vice president of this bank is Virgil c.
 Petite, president of tine Arkansas Bankers Association.
 The remarkable figures attracted the attention of the members of the Arkansas Profitable Farming Bu- reau of the Little Rock Board of Commerce, SO they wrote to Mir. Petite, asking how his bank did it. They were somewhat surprised and greatly gratifled when Mir. Pet tie wrote in reply:
 To put it broadly, we have fol- lowed the suggestions made by the Arkansas Profitable Farming Bu- reau from time to time and we have found that any bank that will follow the advice received thru and from your bureau will derive bene- | Its in the form of increased busi- ness and dollars and cents and the result will be immediate"
 Farmer Made It Possible. The farmer made this amazing increase possible" wrote Mir. Petite. We have 5000 depositors and more 5000 of them are farmers. Do you wonder that we attempted to CO., operate with the farmer? We cer- tainly are not fools.
 We have realized for several years that if this section were to be prosperous, the banks must not be satisfied to take what came to them in the usual routine, but must take the lead and try to help the farmer, and not alone by loaning him mon- ey. This is an agricultural state, and therefore we must look to the farmer to increase our states wealth. The banker must meet the farmer more than half way to merit his business. For example, one year we subscribed for 500 copies of the Progressive Farmer and sent them to a selected list of farmers. Most of them renewed their subscriptions when they ex- pired because they were impressed with the value of the paper"
 Some of His Banks Work. Some of the other agricultural activities of his bank mentioned by MT. Petite include cooperating with the county and canning club agents, donating money as prizes thru those agencies, appearing be- fore the Quorum Court to urge the continuance of demonstration work getting energetically behind good roads projects and loaning money at low rates of interest to enable them to buy pedigreed registered made stock.
 We sent some of our best farm CTS to the drouth-stricken district of Texas last fall and loaned them money to purchase something like S60000 worth of choice cattle,n con- tinued Mir. Petite. The experiment is successful beyond expectation.
 We loan money at per cent without security to any boy of good Ireputation who wants to buy brood SOW and we have never lost loan of this sort We encourage the or ganization of boys corn and pig clubs and of girls canning clubs. Most Desirable Patron.
 We try to make the farmer feel that We are interested in him and we find that he appreciates this in terest. The bank must understand
 that the farmer is the most desir- able patron it can have on it's book, but must prove with it's money that
 it is ambitious to serve and help
 and willing to wait for profits.
 We have tried to free the farm
 CT from the costly supply house
 and there are none in Jonesboro.
 Any worthy farmer can come to
 our bank and receive financial as-
 sistance to carry him thru the sea- son even if he only needs Si0. When
 we make the loan we try to make
 our farmer friend feel that we do not consider that we own him body
 and soul simply because we have
 extended him a measly little ac-
 c0modatiOn. This latter foolish policy sometimes is followed by
 banks and others and they do not
 deserve and usually do not receive
 the patronage nor the good will of
 any self-respecting farmer.
 Aids Farm Loan Association.
 We took the initiative locally in the organization of national farm
 loan association operating under the
 Federal Farm Loan Bank in St.
 Louis. 1t is supreme success, | and increasing it's usefulness and
 loan the greatest, most construc-
 tive and truly helpful legislation for the farmer since the foundation Of our government. Instead of hurting the banking business, it is
 real help. We were quick to
 realize this and regarded it as good business policy to spend our
 own money to help secure a char | ter. \ bank or banker that throws
 obstacles in the way of the organi-
 zation of farm loan associations is standing in his own way and failing Il t... n. A. |