The Bismarck tribune. [volume] (Bismarck, N.D.) 1916-current, 1920-11-24
BANKERS WANT
JOINT ACTION
WlTHB. OF Nd.
Mandan Meeting Expresses De.
sire for Cooperation in
Present Situation
TO NJ EET OFFICIALS
Suggested That Period of Time
Be Taken in Withdrawals
of Deposits
TO NJ EET OFFICIALS

A>1diiy 4oo DdllheIS ana county OF
ficials, meeting in the Commercial
club rooms at Mandan yesterday after
noon at the call of the Slope Bankers
association to discuss methods of al
leviating any harsh effect from the
possible sudden changes under the in
itiated law permitting the withdrawal
from the~Bank Of North Dakota Oi
public funds after December 2, de-
clared their intention Of cooperating
with the Bank Of North Dakota In
any possible ways to prevent en-
barassment either to the Bank OF
North Dakota or state banks, par
ticularly in the western part Of the
state, during the period of transi-
tiOn
A committee was named by the as.
sociatiOn to come to Bismarck was
to confer with officials of the Bank
OF North Dakota today, explaining the
attitude Of the bankers and seeking
basis OF common understanding
through the conference.
The baniers' committee had not
been in communication with the Of
fic.als Of the Bank Of North Dakota
at noon, it was stated at the bank,
but it was expected the conference
would take place this afternoon.
Members named on this committee
by G. F. Peterson, Of New Salem,
president Of the Slope Bankers as
sociation, included j. P. Kane, Brad
dock; W. II. Stutsman, Mandan; Will
son Eyer, Dickinson; C. N. Jensen,
Hazen; II. NJ. Weudhal, Dunn coun-
ty; George Helming, Mott; A. w.
Furnas Morton county; F. L. Seine
bleyy Mott; W. R. O'Brien, Center;
l.. A. Tavis, Mandan; J. l.. Bell, Bis
marck.
Treasurers Included
The committee included bankers
and county treasurers who, under the
law, are the sole custodians Of funds
and may withdraw them from the
Bank of North Dakota after the in
itiated law becomes effective.
: disappointment was expressed by
the bankers that the Bank Of North
Dakota was not represented at the
meeting. According to the chairman,
an invitation had been extended to
F. W. Cathro, director-general of the
Bank of North Dakota, to be present
A. JQhannsen, audis department di-
rector of the bank, declared today
that no invitation had been extended
tn fOfi nf ho 1,0, ,1y
the organization to be present at the
Mandan meeting.
Lack Of detailed knowledge as 20
the manner of distribution Of the
public funds in various parts of the
state prevented full discussion of the
problems. Some of the bankers told
Of conditions in their own counties.
One suggestion was made that the
treasurers Of all political subdivi-
sions in the state be asked to pledge
themselves not to disturb the bank
deposits for a period Of four months,
during which time it was said that
adjustments could be made.
The Bank of North Dakota's man.
agement was discussed by many
speakers. Most Of them were in con-
ciliatory tone. The opinion was ex-
pressed by some that the Bank of
North Dakota has valuable place in
the state finance if it is properly
handled.
Associations Position
w. G.. McFadden, secretary of the
North Dakota state bankers assOcia-
tion, said that the executive council
had asked Mr.. Cathro to meet with
them on various occasions and dis
cuss the financial situation of the
state but that he had not accepted the
He declared that he knew
there was no conspiracy among state
bankers or among eastern bankers
to embarass the Bank of North Da
kOta.
He declared that the difficulty lies
in the law providing the Organiza
ton of the Bank of North Dakota.
He said that eastern bankers realized
that the Bank of North Dakota, as
custodian of public funds, held pow
erful club in its hands on other bank
ers of the state, and the uncertainty
Of what the bank might do made
them a little dubious about giving f.
nancial support in certain quarters in
the state He said he believed the
Bank Of North Dakota could be made
a very successful organization. |
All Interested u
w. H. Stutsman, one of those who
drew the initiated laws. declared that
there was no other way in which the
law regarding public funds might be
stated. Though he is connected with
4 national bank, he said all citizens
we're interested in seeing the law go
Continued On Page Six