The Fargo forum and daily republican. [volume] (Fargo, N.D.) 1894-1957, 1918-07-12

healthy and legitimate movement OF
new settlers can be successful
" ma .ntained. It should be a sus-
tanned plan to continue over a long
period OF years and not a spasmodiC
effort to be tried out for few
months and then neglected.
Development Association.
1--WE want to ask YOU at this time
to consider the Incorporation of an
organization to be known as the
North Dakota Bankers Development
association on a plan that will pro-
vide the means to successfully carry
out the work. A movement Of this
kind must be directed by practical
men of proven experience in imni-
grafton work. r..
I'VE recommend that an annual
assessment be made on each
bank in this association. according
to it's capital. to provide neces-
sary funds
Other committees to report were
the taxation committee which recon-
mended that banks generally pay
more strict attention to the matter
Of the assessment of bank stock and
bank property than had heretofore
been tho rule: the farm labor COM
mlttee. which recommended that the
association as whole tender its
services to the federal and state
labor authorities to the end that all
crisis crossing Of purposes will be
eliminated: the committee on credit
forms and the committee on insur-
ance.
Casualty Company Report.
The annual report OF the Bankers
Mutual Casualty company, Of which
n. P. Beckwith, Fargo, is president,
read at the meeting, showed the
company to be in a prosperous con-
dition. Net losses paid during the
year were $5,030.68. The amount Of
cash on hand June % was $15,902.19.
The report indicated that SAG Of
841 members of the association are
carrying all or part Of their burglary
insurance in the company, and that
rs per cent of all premiums had
been returned to policy holders.
Presidents Annual Address.
The annual address and report Of
the president Of the association, G.
R. Green, Cavalier, was a feature OF
the session. Mr.. Green reviewed the
war activities of the bankers Of the
state, and, in part, said:
"The 1918 year of the North
Dakota Bankers association, which
is now drawing to a close, has been
in great many ways a very event.
full one. We have just well, passed
the first mile stone in the prepara-
ton and progress Of our first year in
the world war. into which we were
forced by the autocratic war lords
Of Germany.
ITO the bankers of North Dakota,
rs we'll as the bankers Of the United |
StqfnG f11QnnjT1cr hn SNF i
Dur government was as much of an
unknown problem as the prosecu- |
ton of the war itself. When the
government called on the banks Of
the United States to finance the first |
war loan OF two billions Of dollars,
we were pretty well swept off our
feet. We had never been confronted
with such a gigantic problem and, |
While q great many of us had been
living in a world of hundreds and |
thousands we were forced to lay
aside these small ideas and adjust |
ourselves to think and act in mil |
ions and billions. This change from |
he small amounts to the large |
amounts was very quickly brought |
about until today, just a little more |
han a year, we speak of billions as |
lightly as we did of millions before |
the war. When England |
irst asked for a loan Of five hundred |
millions Of dollars, the bankers and |
inanciers threw up their hands, a |
great many Of them considered the |
rotation of such a. loan out of the |
question and prophesied that If such |
In attempt were carried out the |
financial system Of the country |
would be paralyzed, but they were |
not any more astonished OF alarmed |
than were the bankers of North Da-
zota when the government requested |
4 sale OF a million and a half bonds |
N this state. The arranging and
for the f1otation of this |
in North Dakota was ap-
preached by the committee in |
charge, with very grave doubts as |
to the ability of North Dakota to |
aise any such sum- l very clearly |
'ecall to mind the occasion on which |
We were conScripted to per-
orm this duty. It was with serious |
ioubt and nisgtving that we under
ook what was then considered an |
almost impossible task.
You bankers present here today
will we'll remember how the most of
you felt when you were asked to sub
'cribe a given amount to the first
15 per cent bonds. Few could un-
lerstand how 1t was possible or why
he government should ask us to
31s per cent securities when
money was commanding a rate of
rom to 10 per cent but, throughout
IL Of these days of doubt and mis-
wings as to the outcome, we had