The Bismarck tribune. [volume] (Bismarck, N.D.) 1916-current, 1922-04-19
BANKERS ADOPT
RESOLUTION ON
TAX PAYMENTS
Missouri Slope Group Supports
Plan of Settlement Made
BY Executive Body
URGED CONVENTION HERE
Association Adopts Resolution
Asking State Meeting in 1923
Come 10 Bismarck

O
The offer made by the executive
council of the North Dakota Bankers
Association Ito pay taxes on the same
basis as other business houses al
though under the supreme court de-
cisb0m they We're freed from major
part of taxation for the last two
years was unanimously approved by
the Missouri Slope group of the as
socia'tOn in meeting here.
The taxa'tion settlement plan was
explained in detail by A. G. Divet, at
torney for the association, and follow
ing explanation and discussion the
bankers adopted resolutions stating
that while they could escape taxa
tion under the supreme court decision
they did not want to avoid burden of
taxation, and approved the plan Of
settlement on the basis Of other bust
ness houses.
Serious complications might arise
unless the plan for settlement Is &C
cepted, the bankers were told.
The meeting was the largest gath
ering of the Slope bankers held in
several years, it was said. One of the
resolutions adopted by the bankers
urged that the 1923 convention of the
state bankers association meet in
Bismarck. This resolution will be
presented at the state meeting IN
Minot in June. The Bismarck bankers
were thanked for hospitality shown
during the session here. T..
Endorse Roads Body
A resolution was adopted ennors-
ing the North Dakota Good Roads
Association "and it's notorious meas
ures to safeguard Federal aid for the
proposed state highway system" The
resolution specifically mentioned the
constitutional amendment and the
two laws which the good roads asso-
citation proposes to initiate next
November, urged the revision OF the
motor vehicle license law and mo. vl :.
tor fuel tax of one cent a gallon In
lieu of the present tax on gasoline,
and declared that there is grave dam
ger of losing Federal aid unless this
action is taken. 1t was pointed out
that the people Of North Dakota pay
in federal taxes $3,O00,000 ANNUALLY,
and through federal aid for highways
over one-third of this amount would
be returned ito the state. The resolu-
tions committee was composed of l..
r. Baird, Of Dickinson, A. H. Pet
erson and ]. D. Remple.
w. B. Default, manager OF the farm
loan department of the Bank OF North
Dakota, explained in detail the sys-
tenn of state farm loans and urged the
support of the bankers in the making
of safe loans w. C. McFadden praised
the Cass County Development Asso-
citation and urged that similar county
associations be formed for the pur-
pose OF reducing the size Of North
Dakota farms and encouraging imm-
grafton.
John Haw, of the agricultural col
lege. talked upon diversification, and
asked the bankers to urge the right
kind of diversification. He predicted
that with diversification there is
great future for farming in western
North Dakota. He urged that tho pro-
ducts of the land be taken first as
basis for the right kind OF dlverslfl-
cation, and that livestock be kept on
the farm in the proportion to the
amount that can be properly fed and
cared for upon the farms products.
He held there could be too much d.
.yersification: q"
Federal Bank Loans
The Federal Farm Loan Bank, OF
St. Paul, has seven appraisers work
ing in North Dakota at the present
time, according to Paul A. Preus,
treasurer of the bank, here to attend
the Bankers meeting. Appraisers
only recently were put into the field
again in North Dakota.
The recent bonds sale of the farm
loan bank amounted ITO S7,5OO,O00,
Mr.. Preus said. This amount is OIL
vided between four states so that on
an equal basis the land bank can
close over $1,SOO,OOO of loans in North
Dakota before there is another bond
sale North Dakota now has 40 per-
cent of the money loaned in the four
states under the banks jurisdiction,
he said. Ittis expected, he said, that
the bank will loan $15,0O0,000 to $2O,-
y;