Grand Forks herald. [volume] (Grand Forks, N.D.) 1916-1955, 1920-01-01
BANKS EXPECT .
ABlCFUIURE
Optimistic Over Prospects
OF Grand Forks For
Coming Year.

With bank ~clearings in Grand
Forks for the twelve months of 1919
increased approximately Is per cent
over the bank clearings of the twelve
months of 1919, Grand Forks bankers
have a new record to uphold.
Bank clearings for 1918 totalled
$70,028.0O0, and in 1919 totalled $780,
435,000, an increase of over s10,000,-
900. ''
Grand Forks bankers arc generally
optimistic over the banking business
of the coming year. Although the
figures show a big increase in the
amount of money handled this year,
prices are high, and people ~necessar-
lily spending more money than in pre-
vious years.
Northern State.
'"The banks have had to meet the
dent Of the Northern State Bank Of
Grand Forks, in commenting on con-
ditions. Unlike the merchants, the
banks have not been able to advance
the price of hat which they have
to sell, for the interest rate has not
yet fully responded to conditions
which are now being rapidly forced
upon our attention.
Credit to Be High.
THE cost of living is high. We
U have an inflated dollar. Credit
is going to be in less abundant sup
ply because it necessarily must be
advanced more cautiously in recogni-
ton of the conditions affected.
What effect will it have on busi-
ness for the coming year? I think
only a helpful and healthy one. Funds
Will be in ample supply to care for
all legitimate business demands, but
for speculative purposes some Diff
Guilty will be experienced"
First Savings.
A quarter Of a million dollars in
crease over last year is the record
with which the First Savings bank in
this city will begin the new year, ac-
cording to w. v. O'Connor Of the
bank: An unusual advance In the
business characterized the year 1919,
officials of the bank said, and they
count h year just closed as one Of
the most prosperous in many years.
AS for the prospects of the com
ing year, it is believed that with the
inevitable growth Of Grand Forks,
business in banking lines as well as
every other activity in the city must
grow.
Peoples State.
mot only for local people but for
tAlOoc AAOAA a "lQc OlSLTlCt
ing the city. Grand Forks is becoming
a banking CENTER" according to s. G.
Hendrickson of the Peoples State
bank, land big deals for this district
are more and more being financed
through the local banks Mr.. Hem
erickson observed. This does not
lean that in outlying communities
people are not dealing with their To-
cal banks, but the big balance of bust
ness that the country banks are not
able to care. for is more and more
drifting to this city," Mr.. Hendrick-
son said.
First National.
Our constitution has had a very
successful year in every way" said A.
l: Hunter, president Of the First Ma
uonal bank of Grand Forks.
Money has been cheap and plenti-
full. However, the rates are going M.
Let 1s hope that the strikes will stop,
the public will go to work. and in
stead of trying to legislate good
times will work for them" :
Northwestern National.
Our local business has shown q
nice increase during the past twelve
months" said H. p. Rice. ASSISTANT
cashier Of the Northwestern National
bank Of Grand Forks. s.llgT e
I'VE have had an unusually rood
year In the city. The business from
the country banks has not been os-
pecially good, but this Is due to the
short crop"