Bemidji Daily Pioneer Newspaper, March 27, 1909, Page 53

EEESII——. .i l BEMIDJI, BELTRAMI COUNTY AND NORTHERN MINNESOTA. BANKS OF BEMIDJI AN AB-ORIGINAL SETTLER ON LAKE BEMIDJI A city is to be judged by the soundness of its banks and the personnel of their board of directors and officers. As a piece of mechanism is judged by its construc- tion and the material which enters into its composition, so is a bank considered by its transactions, conveniences, clearings, rates of interest, methods of business and general conduction. Bemidji can well boast of - the banks within her confines. No city this size in the United States can claim as high an average capitalization, while the trained financiers at the head of them rank among the leading and most sagacious business men of the nation. The banks of Bemidji, as may well be imagined, have been the cause of wide-spread advertisement of our city, and the productive farm lands con- tiguous thereto, and they have also been the means of bringing hundreds of thou- sands of foreien capital to this and sur- rounding counties. : This financial showing is one which cheers the hearts of the populace of this locality, as it represents an influx of prospective homeseekers and investors, and a status of commercial affairs which in- dicates the high class of business men to be found in Beltrami county, as well as the ideal character of the citizens as a whole, reflecting, as it does, frugality, good judgment, integrity, open and above board transactions, and a local spirit which is withal commendable. 2 It is also well to observe that the Bemidji banks did not issue any script during the financial flurry. They paid with but little reservation as the money wag demanded, and after it was all over, they were in position to judge the unflag- ging faith their depositors had in their ability to weather the storm and the stolid honesty of the men who had control of their affairs. ; . The proof of the pudding is the eating, and thusg it is that the banks of Bemidji have rapidly forged to the front; explains why this young city is egrowing at such a rapid and substantial pace, and why the farmers from other states are taking up land in this section. Too much stress cannot be laid upon the importance of reliable banks, for poor, in- deed, is the community which lacks stable and solidly founded clearing houses. An- other point which should not be overlooked is that no account is too large or too small to receive proper and painstaking atten- tion at the hands of our two banks. Be- sides, the officers of our banks, namely, the First National and the Lumberman’s National, are always desirous—even anx- jous—to advise with their patrons rela- tive to investments and all other monied interests, and their counsel, aside from be- ing positive and impeccable in import and spirit, igs imparted free of cost. FIRST NATIONAL BANK. National Banks, as is well known, con- stitute an integral part of the United States Treasury. Their transactions and entries are under the strict susvillance of the national government, and their deal- ings are an open book to the general pub- lic. This potent fact demonstrates why lodges, labor organizations and other civic bodies require their treasurer to deposit their funds in national banks, and this being true, it can be readily inferred why the majority of people arrive at the same conclusion. The First National Bank is among the oldest established monied institutions in this portion of the northwest, and its assets prove the enormity of its annual business and its popularity as a financial concern. From the day of its inception, in the year 1900, its progress has been rapid and substantial. It is among the most powerful banks in northern Minne- sota, as indicated by its capital stock and surplus, and is as popular as it is power- ful. This fact may be partially aseribed to the following terse excerpt issued by this bank in its officially published state- ment, bearing date of November 27, 1908: ‘“‘Under government supervision we aim to offer the most liberal accommodations consistent with legitimate banking. Our stockholders and officers are people of