The Bismarck tribune. [volume] (Bismarck, N.D.) 1916-current, 1931-02-04
REIMBURSEMENT TO
RESULTFROM WORK
ASSERTSBANK HEAD
Effort and Thought Must Be
Directed Toward Recovery,
Davis Tells Rotarians

Work and thought designed to bring
about better adjustment of business
to present conditions is gradually
pulling America out of its business
slump, j.. E. Davis, president of the
Dakota National Bank and Trust
company, told members of the Ro-
tary club Wednesday noon.
The present business depression ap-
pears to be running true to the his
tory established by similar occur
1ences in the past, Davis said. Such
periods usually extend over AZ
months, he asserted, with a year and
a half needed to reach the bottom
after the start of a decline and two
years needed to reach another peak
after the upward climb begins
Among the signs that the rise has
started, he said, is the change in the
psychology of the people which, he
asserted, ranges through a cycle OF
its own beginning with overconfid-
ence at the business peaks. down
through hopefulness, doubt, timidity
and generalization and up again
through hope, determination, confld-
ence and overconfidence.
If the United State, is to prosper.
Davis said. it must recognize the i'm
portance Of world conditions and the
necessity of restoring a parity Of ex-
change upon which business can be
done between nations. At the same
time. he said, readjustment must be
made at home to develop parity be-
tween agriculture and other indus
tries and each industry must strive
to adjust it's own situation.
Pointing to agriculture as an
example of this fact, Davis recited
the case Of a Kidder county farmer
who used his grain to feed lambs
The lambs cost S3.17 each and the
farmer made a profit of s3.l2 each by
feeding them grain in addition to
forage crops. This occurred, Davis
said, despite the fact that farmers
cannot now market their grain. as
such, at a price which will enable
them to live.
Such development of the livestock
industry. he asserted, will have other
~far-reaching effects since it would
encourage packing plants and other
processing firms to locate in this
area.
The point of it all, Davis said, is
that it is wrong for people in any
line of business to sit down ana wait
for things to get better. The thing
to do is to analyze the situation and
then work for improvement in every
way which seems open.
Guests at the luncheon included
Senators Walter Bond, Minot; Nels
Magnuson, B%ottineau; Frank Ployhar.
Valley City; P. w. Eddy, jamestown;
and w. S. Whitman, Grand Forks;
Representatives T. D. Acheson, West
hope: Fred j. Shurr, Lansford; R. A.
Owings. Ignite; H. F. Newcomer,
Upllam: Robert c. Montgomery, Har-
vey: H. L. Halvorson, and Einar
Mus, Minot.
Other guests were Judge B. F.
Spalding, Fargo; r. M. Rishwerth,
Jamestown; County Commissioner
Victor Moynier and Axel Solder; A.
w, Cooper, w. H. Shurr. and H.. L.
Lo,nas, Fargo: Fred j. Traynor,
Devils Lake, and L. r. Baird, Dickin-
son.
In introducing Judge Spalding,
Chief Justice A. NJ. Christensen
pointed out that he was a member
of the commission which located the
state capital in Bismarck and sug-
gested that a joint meeting of lunch
con clubs be held soon to hear Judge
Spalding tell how the decision to
make Bismarck the state capital was
arrived at.