The weekly times-record. (Valley City, N.D.) 1912-1922, 1922-03-30
WIRE BANKERS
NORTH DAKOTA
0. K. FOR FUNDS
Committee After Visit With Governor
Nestos Sends In Favorable Re-
port. 'r'

Big investment houses of New York
affiliated with large eastern financial
interests today received a report from
their agents recommending North Ra-
kota as a favorable field for invest.
ment.
This report, which, according To-
William G. Marvin, New York lawyer
and head Of committee of invest
l,ant house representatives who have
been Investigating the North Dakota
situation, probably will mean that big
bond houses, insurance companies ana
other eastern investors will again
turn to North Dakota as a field for
investment.
This report, it is said, is the first
favorable report sent to eastern, finan1
cial institutions, on North Dakota in
six years, and during that period rep
resentatives of the financial interests
have been in the state making invez-
tigation.
Mr.. Marvin declared the investiga-
tors believe that North Dakota is Ain-
trinsically sound" has low debt i'm
comparison to her assessed valuation
and has good future in the develop
| ment Of her natural resources.
Mr.. Marvin and his co-investigatorr
during two days in the capital, fol-
lowing a visit to other places i'm the
state, have been engaged in study OF
the state reports, statistic and general
political and economical conditions.
Explaining the attitude of eastern
financiers toward North Dakota dur.
ing the last six years Mr.. Marvin de-
| cared the financiers felt that North
| Dakota was not getting a sound,
economical government and that the
experiments of the Nonpartisan lea
que would collapse sooner or LATER 10
be followed by period Of political
| chaos, and that North Dakota @as
| not, therefore, a safe place for In
vestment.
His conclusion, he said, after his
visit here, is that the present adn1in-
istration will remain in power, or Az
| anti-Nonpartisan league administra~
ton, that the "bottom has been
scraped" in the period of depression
as it affects the state, that the market
trend is upward, increasing the value
Of North Dakota products, and that
the present administration is giving
the state the right kind of govern
| ment.
Mr.. Marvin outlined five points up
on which his committee based their
conclusions regarding the present ad-
min;stration. They are:
1. The efforts being made by Gov
ernor Nestos and other members of
the administration to increase diversi~
fcation on the farms.
2. Economy in state government
3. An attitude on the part of Gov
ernor Nestos Of giving the state "a
good solid type Of progressive govern
ment" not freakish. !
4. Character Of men in the state
service, efficiency on their part, that
Governor has maintained an open
mind in seeking advice from experts
in various lines, agriculture, market
ing, banking.
5. Present administration is CO.
operating with other states, abandon
ing state Of isolation; is seeking 10
interest eastern people in the latent
natural resources of the state such. rs
Ignite coal and clay beds.
North Dakota, Mr. Marvin said, may
be worse off agriculturally than some
other states because she is known as
lone crop" state. Diversificatinn.
he declared, is the life saver Of the
state. The fact that North Dakota has
been known as a zone crop" state has
been one of the reasons why investors
have been somewhat shy, he said If
there is failure, all is lost, while n
there is diversifcation that can be
only partial failure. Reasoning fron
an economic standpoint. he said that
if the farmers are interested only in
one or two grain crops they are busy
perhaps but seven months a year:
while if they are raising cattle, ETC.,
they are busy twelve months. From
bankers standpoint, he said, this,
means the state is producing vastly
more wealth under diversifcation
system and therefore is better credit
risk.