The Bismarck tribune. [volume] (Bismarck, N.D.) 1916-current, 1920-12-01
BANKERS OFFER
AID FOR GOOD
OF WH0LBSTATE
Will Cooperate With Bank of
North Dakota and Indus
trial Commission
REVIEW THU SITUATION
Hold Right Action Can Induce
Outside Capital to Enter
State Again
REVIEW THE SITUATION

State Bankers association, after an
elght-hour session, last night pledged
every possible cooperation with the
Bank Of North Dakota, outside invest
ment firms and other individuals tO
bring financial relief to the state.
Resolutions passed provide:
That Congress be urged to take i'm
mediate steps to restore fair and equi
table prices for grain and cattle BY
eliminating the cause which brough,
about the present demoralized condi-
ton.
That the bankers association will
assist the Industrial commission II
every possible way The Industrial
commission directs the Bank Of NOrtE
Dakota.
That the association will give th
Bank Of North Dakota the heartes
cooperation in carrying out the pro-
visions of the initiated law.
Tha tthe association requests pub
lie treasurers of the state to with
draw from the Bank Of North Dakots
only necessary funds and that sink
ing fun's y it with Tie Bank ..
North Dakota trr ;,c lea 5. six months
E. J. Weiser, president Of the Firs:
National Bank of Fargo, Ed Pierce OF
Sheldon, 0. s. Hanson Of Crane
Forks, H. P. Beckwith. of Fargo, ant
J. j. Early of Valley City as a COM
mittee to continue constructive work
for the financial relief Of North ",
kOta.
Sum is Small
That the temporary suspension o.
II banks in the state since Novem-
Der Is does not involve a great sun
was a fact brought out by bankers
today. The largest bank to close had
a capital Of only $4,000; one hao
$25,OOO capital; two had 100000 CAPT
tai and all of the rest were capital
lied at $4,000 and $4,000 The total
capital of all banks combined is ap
proximately only S27000O, while to-
tai deposits in the bank at the time
of recent report were $2,531 900. Most
of the banks, according to bankers
are solvent and the deposits have the
further state guaranty Of deposits.
The bankers executive council
found that the present tinan-
cial situation in North Dakota was
brought by: abnormal world condi-
tions, decentralization of grain and
live stock prices and heavy imports
from Canada. prys f.,
The farm loan companies Of the
Twin Cities that have for years
financed the farm loan business Of
North Dakota and which were said
to have withdrawn when the new
political and industrial program was
started and legislation passed, such
as the seed grain act, taxation Of
foreign credits and the law requiring
the deposits of all public funds in
the Bank of North Dakota, have given
the bankers association Of North Da
kota assurance that they would re>
enter the field and have sent such
instructions to their agents in the
state.
Law Change Effect
These laws have Deen changed, the
Twin Cities companies advised Of
ficers of the bankers association, so
that they consider that the credit ok
the state of North Dakota has been
re-established. as the honesty, abil
ity and efforts of the farmer have
never been doubted.
The North Dakota Bankers associa-
farmers of the state, who are in ses-
sion here, to cooperate closely in
all matters tor the benefit Of. sondi-
tions.
A resolution presented to the farm
ers by Secretary Macfadden of the
executive council read
ITO State Branch, National Wheat
Growers Association.
The executive council of the
North Dakota Bankers association in
regular session this afternoon extends
greetings to all those in attendance
at your meeting. The interests OF
the farmers, the bankers, the mer-
chants and investors are always iden-
tical-what benefits one benefits all
and what Injuries one Injuries all.
We are earnestly working to solve
the problems that come to us, and
know that you are just as earnestly
working on your problems. ii we All
work conscientiOusly the results are
sure to be right. E
I'VE hope that your meeting will
result in real progress. The Surest
road to real and permanent TelleI
is through intelligent cooperation by
all citizens and all occupations We
pledge the support of our members
to any and every possible construc-
tive effort which has for its purpose
the betterment of conditions affect
ing all industries, including the basic
industry of agricultural
Resolution Adopted
Whereas, conditions EXIST II 8
throughout the world are abnormal
and unusual, in their solution re-
quiring cooperation and forebear-
ance on the part of all good citizens
Continued on Page 81