The weekly times-record. (Valley City, N.D.) 1912-1922, 1922-08-10
BANKERS BEHIND
WHEAT GROWERS

Grand Forks bankers in conference
with Geo. C. Jewett of Portland, Ore
gon, general manager of the North
| west Wheat Growers, associated, and
officials of the North Dakota Wheat
| Growers association in Grand Forks
recently, promised generous financial
support to the organization in this
state. Tentative arrangements were
| made for financing the state pool To-
| cally-that is moving the grain out
| of the state. After that money ad-
vanced by the U. S. War Finance Cor
poration will be used in marketingsthe
grain, according to Mr.. Jewett, who
has made arrangements for loan of
| $25, 100000 with the Finance Corpor-
alton to handle the northwest wheat
pool, which amounts to 30 million
bushels. This money can also be used
in financing the pool locally, if need
ed, Mr.. Jewett pointed out, but local
bankers will be given the preference
in the matter Of interior loans.
E. J. Lander, president of the
Northern State bank of Grand Forks,
was spokesman for the local bankers.
He expressed himself as being in
hearty sympathy with the work done
by the Wheat Growers association.
"something must be done," he said,
"to encourage a more orderly mar
keting of farm products, and the 100
percent compulsory pool for five years,
as advocated by this organization, i'm
presses me as being the most sensible
and effective method to bring this
about. Furthermore the capable and
sincere men at the head of the move
ment inspire that confidence needed
| to make it a success" Mr.. Lander
concluded.
| A. l. Hunter, president of the First
| National Bank of Grand Forks, also
spoke favorably of the project. I'VE
bankers of Grand Forks will be very
glad to extend you any financial aid
needed" he said. "After giving the
plan advocated by the North Dakota
| Wheat Growers careful study, am
/ convinced that it is based on sound
economic principles and l sincerely
| hope that It It will go q long way in
| remedying evils that are now appar-
ent with our present marketing sys-
tem,' Mr.. Hunter said.
| Mr.. Jewett, who is former North
Dakota banker and elevator man, has
mana ged the Northwest Wheat Grow
ers, associated, operating in Oregon,
Washington, Idaho and Montana since
)192O. At the time he was drafted by
the wheat growers on the coast, ne
was director of the federal land bank
of Spokane, Washington. The mem
bers of the association came to him
and asked his aid in dsposing OF
their 1920 pool. He consented to take
two weeks vacation from the bank
for this purpose, at the end OF which
time. he was prevailed upon to con-
tinue as general manager permanent
ly, under protest of his colleagues at
the land bank. The success OF wheat
pooling on the coast has been unqua-
Lifted. Last year the Northwest
Wheat Growers sold Is million BUSH
| els of wheat at prices ranging from
10 to 80 cents over the current mar
ket quotations, at a handling cost OF
only 8 mills.
"I am confident that the North Da-
kota unit will be just as successful IN
this state" Mr.. Jewett stated, during
his recent visit in Grand Forks. We
expect no extreme difficulties, finan-
cial or otherwise, and are all ready
to handle the wheat pool this year
with the utmost facility"
At the present time there are 49,
900 members in the northwest asso-
/ Citations, and including similar organi-
cations in the southern states, the
membership will reach $4,000, with a
combined pool of 100 million bushels.
"By 1923 we expect to have a wheat
pool of 100 million bushels, and when
that is accomplished the problem OF
marketing the growers wheat in an
orderly manner will be largely solv-
3D." Mr.. Jewett said.
Mr.. .Jewett will have personal
charge of the North Dakota pool, and
will spend the summer months be-
tween the headquarters in Grand
Forks and the sales agency establish
ed in Minneapolis to handle the wheat
from Montana and North Dakota.
these. We know our state is truly
loyal, and we should be represented