The Ward County independent. [volume] (Minot, Ward County, N.D.) 1902-1965, 1920-01-01
BANKER GIVES SOME
I'll M ELY ADVI E

BANKER GIVES SOME
TIM ELY VICE
C. H. Zehringer, Vice President Of the
Union National Bank, Shows the
Importance of Systematic Saving.
C. H. Zehringer, Vice President OF
the Union National Bank, read the fol-
lowing paper at recent meeting OF
the Minot Rotary Club which is SO re-
plete with good advice that the indie
pendent publishes it in full:
The Union National Bank was or
ganized in February, 1905, with a cap.
ital Of $4,000, surplus of $4,000 and
undivided profits of over $4,000. Our
deposits are we'll over the million dol
lar mark and in spite of the adverse
years we are gaining deposits. The
Union has often been called the live
stock bank and think it is entitled to
be called such as it has done more
than any other bank in the northwest
to get the farmers started in the live
stock business, as we realize that that
is the only salvation for this part of
N. D. The Union employs four offic-
ers and eight clerks. We take pride in
the service that we extend the public
as banks in general are nothing more
than public service corporations.
What is bank? It's defined lots
at times like this: Mike-"What's a
Bank ?" Pat-"Well, for instance, its
a place where put money in and you
draw it out" Mike-"Well, where
does the bank make anything out of
that?" Pat-"Well, they either knock
down on what l put in or they short
change you on what you draw out. "
And, gentlemen, you would hardly be-
lieve that 80 per cent Of the people are
in Mikes and Pats shoes and know so
little about banks and their methods.
I do not include the recent scandal at
Fargo.
The banks are, today, trying to edu-
cate the people to their methods. The
business man is in better position to
appreciate bank, if he will; and I
want to impress upon you that it is
the duty of every business man to get
in touch with his banker, as think
that a close relation should exist be-
tween them. If he wants to establish
a line of credit and then to use it, as
every man in business in large way
should do so, he should give his bank
er every sort of information possible,
as to his plans, the outcome of his eff
forts, a complete financial statement
once a year and then carry balance
in his account which will be of value
to the bank As every business trans
action is based upon some sort of
credit, it is easily understood that a
business mans credit is far and away
his greatest asset. If the business
man will keep this in mind, and, if the
nature of his business permits, follow
the Chinese custom Of paying all his
debts once year he is on the road to
success and his banker will prove to be
one of his best friends. The four cor
ner stones of credit are Character,
Capacity, Capital and Collateral. If
the business man will keep those in
mind and remember that nothing is
more sensitive than credit, he can
command all the funds he will ever
need in any of his operations.
Just as every circus must have its
clown, so every bank must have its
loan officer. Call rose by any other
name, we'll sometimes he is termed
president or manager Of the credit de-
partment, vice president or cashier,
but whoever it is, whenever a GUS
toner pauses outside the marble coun-
ter, balances on one foot and coughing
says, l want to borrow a hundred dol
lars, loan officer he is, for his sins and
to his sorrow He is once the storm
center of the Banks prosperity and
the focal point of its most delicate
contact with the public. For while
any teller can easily be civil and rem
der satisfactory service to the GUS
TONER, whose sole need of a bank is
the safe-keeping of his cash and the
payment of his checks, it requires
some combination plus an undescrib-
able something else, to be the dispens-
err of the banks credit resources. The
man who comes in, not only desires to
depart with a thousand dollar loan,
but is firmly convinced that he is en-
titled to it and the bank lucky to have
him on it's bills receivable ledger, is at
best barren soil for planting friend
ly and courteous phrases if the loan
officer conveys to him gently word
ed but firmly meant "No." But de-
spite the unavoidable cross-and some
of the rejected are some cross,
this position is the one that appeals
most strongly to the ambition and en-
thusiasm Of the rising banker, espec-
tally if he possess that finacial vision.
And sometimes the ambition and en-
thusias,n take him far toward success
in the GROWING ideal of his position,
"Safe loans for his bank coupled with
the retention of the friendship of the
rejected borrower" They may take
him far, / repeat, until the growing
diameter of his bald spot and the grow
ing dyspepsia devils behind his waist
band make him turn a jocund eye on
borrowing humanity and limit the Wis
ion of the size of the next annual divi-
dend. But if the making Of loans con-
stitutes his days. problems and tri-
umphs, the visits Of the slow pay bor-
rowers make the loan officers path a