The Bismarck tribune. [volume] (Bismarck, N.D.) 1916-current, 1921-11-09
|NEST0S HOLDS
MEETING WITH
| STATE BANKERS
Discusses Financial Condition
of the State in Meeting
Held at Fargo
TO FORMULATE POLICY
NestOs Plans For An Audit OF
All State Departments

Fargo, N. D., Nov. 9-Conferrin!
in Fargo with group Of prominen
bankers representative of all section:
Of the state, r. A. Nestos, governor
elect, asked the assistance of thu
financial leaders of the state in de-
veloping three specific lines of state
work.
First, Mr.. Nestos asked for the ait
and counsel of the bankers in bring
ing about an immediate audit of al
state departments; an accounting ol
all funds; an analysis of the condi
ton of the various industries, the
audit to be made as early as possible
and with the least possible expense
Secondly, he asked the advice Of the
bankers in formulating policy for the
bank examiners department., a de-
partment which the governor-elect as.
serted is without question the mos;
important of all.
Thirdly, he asked suggestions con,
cerning the carrying on the work OF
lhe Bank of North Dakota, both with re-
spect to the thawing out of frozen
public funds, and the continuance OF
the farm land loan department with
efficiency and to the end that real
results may be obtained for the far.
mers. .,r
Wants Best Advice Possible.
The conference was held in the
Gardner hotel, upon the joint sugges'
ton Of Mr.. Nestos and the bankers.
II feel that it is absolutely essen.
tial that we have the whole hearted
cooperation of the financial interests
in this period of the states develop.
ment," said Mr.. Nestos.
1T is absolutely essential to the
welfare of the state that we do every
thing possible to re-establish the credit
Of the state and the people, and ir
this work we must have the co-opera
tion of the bankers. 1t is for the pur
nose OF obtaining such cooperation
that today's conference is being held.
In the development of his several
points before the bankers, Mr. .Nesto<
said 1t was essential to successful
handling of the states affairs thai
there be full knowledge concerning thu
actual condition of all state depart.
ments, industries and funds. This car
be acquired, he said, only through ar
audit, and he asked of the bankers
that they give him advice as to the
manner in which this audit can be
most efficiently and most economical.
ly handled.
Like Deal to All.
Concerning the bank examiners de-
partment. Mr.. Nestos advises that Il
was his intention to name new ex'
aminer. For this position, he told the
bankers that it was his desire thai
the place be filled by man witt
thorough banking experience, and will
such knowledge as to make him val
liable to the state not only in thu
conduct OF the department as relates
to the going banks, but also as to tht
closed banks. Conservation of thu
assets of the closed banks, the COVER
nor-elect said, is absolutely essentia
to the welfare Of the whole state.
1T is my desire that the BANKING
department be SO conducted thai
every closed bank that can possibl!
he reopened, shall be permitted so tt
do, and that every bank, regardless:
Of whether It is a so-called league
bank" or not, is given equal oppor
tunity to weather the cHisis," Mr.
Nestos told the bankers.
Discussing the Bank of North Da
kota, Mr.. Nestos too the position
that in the appointment of a man,
ger, and in the conduct of the insti
tuition, each phase of the situation
should be so, handled as to ref1ec
advantage to the state. The sale .
bonds for the purpose of permitting
the Bank of North Dakota to liqul
date claims held against it by coun
ties, school districts, etc, was cite'
by Mr.. Nestos as absolutely essen
tial. The re-establishment Of the farm
loan department on working basi
was also declared by Mr.. Nestos t
be of vital Importance.