Grand Forks herald. [volume] (Grand Forks, N.D.) 1916-1955, 1922-04-29

ton, war named preBident Q the
Northeastern Group. at the hnsnuAi
meeting Of these bankers at Llatthiaore
DrtAa0. ss.4 s 4
c. W. CHOW Q Cssalier was elect
@ ~ president, and q 9 Hend-
ricllson, oasAlee $of the Northern
State bank OF Grand Forks. secretary
D. Lord Of Park River as their rep,
resentative on the executive commit
tee OF the. North Dakota Bankers as
and w. II. shulxe. vice
president OF the First National bank
Of Grand Forks, was reelected as
member Of the nominating. commit
tee.
c. h. Green. manager Of the Bank,
Of North Dakota, addressed the meet
ing on matters pertaining to the farm
loan department, and A. G. Dewitt OF
attorney for the state bank
ers' association, took up bank taxa
ton, problems. This latter subject
formed the most important feature
dealt with by the northwestern bank
ers Friday. The need and benefits
by George Wolf. assistant
county agent leader for tho state.
Hard Work Needed.
The general sentiment Of the gath
ering indicated that, while optimism
is felt over the prospects for prosper
ity, It is very urgent that everybody
work and work hard, and that ifsthis
done there will be little to worry
about. : ~ Sts =
!. More than 100 bankers from Grand
Forks, Walsh, Pembina, Cavalier and
Nelson counties were in attendance,
Among them were the following from
this city: l.. X. Lohn. OF the North
western Trust company; o. s. Hanson
and p. S. Peterson, of the Northwest
ern National bank; ]. r.. Carley of
the First National bank, and E. VI.
Lander, w. E. Fuller, C. 8. Hendrtck-
son, J.. III. Ruettell and MI. Cotton.
OF the Northern State bank
The local bankers expressed praise
for the reception given them by the
nounced the meeting a Din
ner was served at noon in the lLarl-
more Masonic temple.
{ Activities; pabt and proposed, of the
North Dakota State Good Roads ASSOC
were pointed out by E. g.
Wanner of Bismarck, Representative
of the association. ~
Resolutions Adopted.
= Resolutions were adopted as fol-
lows:
Sec. /. We recommend. hat Sec
ton 176, In Article II, as amended by
Article 20, Of amendment of the con-
stit,ution OF. the state, be amended so
legislature to exempt any and all
classes OF personal property from
taxation. A recent example Of which
is the exempting by the special legis-
lative assembly OF 1919 Of. all bank
stocks from taxation, thereby prac-
ttcally exempting banks from paying
taxes. We recommend the ~fullErepeal
Of the law allowing classification of
property for taxation, believing that
all property should be assessed 1t It'll
value and that all citizens should pay
taxes in accordance with the value of
their property, such q system pro-
noting a better citizenship and a more
economical government.
hY congress- Of what is known as the
McFadden bill providing Nor an
amendment to the constitution, abol-
fishing tax exempt securities. Such
exemption constituting class. subsidy,
in favor Of the rich investors andJcre-
ating an extra tar burden, and higher
interest rates on property owners and
the borrowers of money, as we'll az
unfair competition, tending to govern.
ment monopoly and increased public
ownership.
e. Sec. g.. We, urge that the strictest
possible. economy be practiced in all
public affairs, realizing that the heavy
tax burden now imposed on the prop.
erty owners Is abundance and men
ace to the proper development Of the
state.
Sec. g.. We urge the passage Of 4
law requiring certain qualifications az
to experience and training for the Of.
Ace Of state examiner and deputy yex.
aniners. believing that no person
shou1d hold such offices4wh has moi
proven himself q successful banker
and hnancier for a term Of years. We
also believe that this association
should have a voice in the appoint.
ment Of the state examiner by making
such appointment subject to the en-.
dorsement Of it's executive committee
Sec. s.. We recommend the enact.
ment Of a law prescribing certain con.
ditions on which tho granting b
charters for the organisation Of state
banks should be based. Nd charter
should be granted for the starting OF i
bank whore It can not be shown thai
the town or community IN which 1t Il
contemplated to start such bank is II
need Of further banking facilities; thu
state banking boardSand the executive
ISOLATION to be. the judge of, such
necessity; the secretary OF state to 81
prohibited from issuing such chartei
until a joint Recommendation for the
starting OF such bank be filed Will
him by such board and COMMITTEES, II
being conceded. that the state d
North Dakota has by far. too many
banks, our state having more banks Ii
proportion to its population than ami
other state in9the Union 49, 81
Sec. s. While we believe III Eoot
roads, we recommend that for IA,