Grand Forks herald. [volume] (Grand Forks, N.D.) 1916-1955, 1921-06-29

Address Of President Of
n. D. Bankers S Association
The address Of President Harold
p. Beckwtth before the State Bank
ers' association follows:
Nearly q year has passed since We
were gathered at Valley City and At
the outset of this brief resume Of our
past years. activities can truthfully
say, without fear of contradiction,
that the bankers Of this good state
of ours have witnessed scenes taken
part in activities, and passed through
ordeals that none Of us care to 90
through again.
Obstacles, both national and state,
have been seemingly thrown across
our pathway. and the roads have not
been easy. Yet I fully believe that
we are all better bankers and busi-
ness men than we were year ago,
on account of these trying and harass-
ing experiences, for experience is sure
ly q good teacher.
A year ago we pleaded for thrift.
economy and debt liquidation, and
I doubt not that every banker here
tried <his level best to proceed along
those lines. but fate seemed against
US. In the first place. our crop did
not yield as anticipated; in the second
place, prices Of products, both grain
and live stock. went down and down.
and in the third place, the lower the
grain prices fell, the more some Of
our so-called state economists preach
ed the gospel of holding and not SELL
ing, 50 that when 1t came to the point
Of our borrowers liquidating. very lit
tie was accomplished. therefore, we
were up against stone wall and could
This past year-while discouraging
in many ways-has proven the real
worth of our makeup and shown US
what we really can do when put to
the supreme test.
In May and June, 1920, prices of
our products were at the peak, and
while we felt a, decline was inevita-
BILE, yet we did not presume for a mo-
ment that the decline would
come so swiftly or assume such enor-
nous proportions During the past
a period of readtustment and defla-
-. never Lnowr an.5 -hioh nona ~
;,s ever cara to 40. oe.ln ". ara MT
hack to norma, VT fv a ,onr wav MT
we are getting there, and getting
there faster than some Of US realize.
Condition Of State Good.
The actual condition of this state
is really good and our nation is the
richest in the world. The after-war
and va. sae evsrvvhara a.iA.rca ~
thrif+ Enr, vaars ra.t hsr. a. North
IA Eo+o ~ 1,es hs.r s,~tars. - 49,
snrine - .n+;c;r.ta the nassts. 80 ..as
~ $hnrrovinr . "a Sn.nd,ns heTnr. ~
crnn rss bsrvestad and soiS =. ,rhis
vasr i !. ainsrsnt. NV Ssrr,.-. as ~.
,,at t.sx..o,r,ns : s.Ii.s - ,.sars tE4.:
+b.v 49, o. ,.t,,.i 1n.a..stti.s ~ I,
80 40 ,sn,,Fast,,ra, :. Iahh.s ~ - 80 ~. ~ =
40 al earen,a;nt,. - 80 ,t.st-...
~ +re.i. +his .r.;nr ..d su,, ~ 81 - :. Z
tha - son. sra +b.sa. rhn,..n "a ~
naon,s sra waar4rr th.,r ia c,nth :.
i;v;nr ~ urrenaired hau.es farmsr,
ara ',sinr ia noachin.rv .rd tha rsa-
nie 1sners, @ I ,lu are nn;nS ,1ithnnt h @ 1srj. pvy
az. svtraua % 1c.. gh;ch 90
nnn+hs = s.e nere oorsdersa a...e.,'
tee -
" We have had several hank failure,
raonanaS =. ~, h,,.;nass .ns ,e r,ora a.. .,,ii
reopen M. ~ ans;.ss u y! ntrt W." -
~ ,1a.,.aI =. - .a,,.s - -
stata. thara nav. h.an h.nr .nd hn.;,
nesa rai,nres hv the whnisssis T.
one s+a+s ~ inf.-n,.d +hst ar.,
fiftv hania have cln.ad thsir door,
arG hit few hava raonan.s I.ooS !,
va, nIease at tha infiata.i ,.nd .,.i
ues in our neirhborine states and tn,