Grand Forks herald. [volume] (Grand Forks, N.D.) 1916-1955, 1922-04-24

N. D.BANKE|;R]S
ENDORSE PLANS
German President Receives
Houghston Cooperation
Pledged.

Ainot, N. D., April 24.-Endorse-
rents OF the agreement made by the
executive committee of the North Da-
kota State Bankers association, with
Nthe state administration relative to the
voluntary payment Of taxes on bank
stock for the years of 1919, 1920, 1921
and 1922, was given by more than $50
bank officials in Minot Saturday at
the annual meeting of the northwest
group. OF the North Dakota State
Bankers association.
A. G. Divet, the associations attor-
'ney. explained the tax litigation thor
oughly and answered several questions
put to him by different bankers re-
garding h subject. The resolutions
adopted by the meeting included COM
mendation and assurance Of conf
dence, ability, integrity and fidelity
of Mr.. Divet, and recommending to
the state association that he be con-
tinued to be employed in his capacity
as association attorney.
The meeting was perhaps the most
successful ever held in Minots, accord
ing to the members of the association
at the meeting The attendance far
exceeded expectations.
Dc Nault Presents Facts.
W. B. De Nault, manager of the
farm loan department of the Bank
of North Dakota, presented some
interesting facts and figures regard
ing the work Of his department.
He stated that since January Is, 1922,
$11.000.000 worth of farm loan appli-
cations have been received More than
$1,000, 900 worth of loans have been
appraised, Mr.. De Nault said, since
February 1922 and of this amount APP
proximately three-quarter of a million
dollars worth has been approved.
The loan department manager told
n bankers hi expenses of the Bank
of North Dakota have been cut down
to about $500 per month. He pointed
out, however, that there is absolutely
no revenue to the Bank Of North Da-
kota from the farm loan department.
Tho department has attempted to
make an allotment Of available funds
to the different counties. Mr.. De
Nault said, that is fair, and that recog-
nizes the greater need in the western
counties OF the state. He said that
territory around Minot will receive
in comparison to its farm values. as
the eastern part Of the tate.
The announcement by Mr.. De Nault
that no politics are mixed up in any
way in the consideration Of farm loans
was greeted with applause by the
bankers. The department intends, to
follow out this policy, It's manager
said. adding that the farm loan de-
partment is on trial in the state, and
1t depends On how It Is operated. II It
Is to prove a success and be q perpas
nent addition to the credit facilities
of the state. e
The farmer who diversifes his crops
Is given better consideration for loans
than farmers who follow out tho one
crop method, the speaker said. There
is now at work for the department q
corps Of farm loan appraisers of ma
ture experience hat have been in the
field at work since the fore part of
February. and are daily %appraising
loans amounting to thousands Of dol
for the cooperation of, the bankers
and the people of the state.
RardlcAt Speaks.
Prof. g. W. Randlett Of the North
Dakota Agricultural college. gave an
interesting talk on diversified aSricul-
ture, pointing out how tho bnnkern
may assist far1ners in their localities
and Offering the assistance Of his de-
partment in the college in any work
that may be carried on for the good
of any community.
M. r. Norter of Minot read a paper
on the Responsibilities and Liabilities
Of Bank Directors" which had been
prepared by Gilbert Seminzston, state
bank examiner. but who was unable to
attend the meeting.
The address OF welcome waa made
by Carl Danielson, president Of tho
Association of Commerce. and r. W.