Bemidji Daily Pioneer Newspaper, September 19, 1912, Page 2

l RO [ T - | T THE BEMIDJI DAILY PIONEER ENTERED AS SECOND CLASS MAT- TER AT THE POSTOFFICE AT BE- MIDJI, MINN,, UNDER THE ACT OF MARCH 3, 1879, In the City of Bemidji the papers are delivered by carrier. Where the deliv- ery is irregular please make immediate complaint to this office.. Telephone 31. Out of town subscribers will confer a favor if they will report when they do not get their papers promptly. Every subscriber to the Daily Pioneer will receive notice about ten days be- fore his time expires, giving him an opportunity to make an advance pay- ment before the paper is finally stopped. Subscription Rates. One month, by carrier.. One year, by carrier .. 4.00 Three months, postage 1100 Six months, postage paid. 2. One year, postage paid... The Weekly Ploneer. Eight pages, containing a summary of the news of the week. Published every' Thursday and sent postage paid to any address for 1.50 in advance. Published every afternoon except Sun- day by the Bemidji Ploneer Publishing Company, % G. E. CARSON. E. B. DENU_ HAROLD J. DANE, Editor. Laws as Makers of Criminals. During the session of 1911 the leg- islature enacte dinto law - what is know as chapter 285, relating to a sclassification of taxable property de- seribed as “Moneys and Credits.” The law itself and its intended purpose are perhaps well enough but under the ruling of the tax commis- sion and the attorney general the law become of such an oppresive na- ture that unless evaded or avoided in some way our business men must re- sort to many devices or perjure them- selves every time a return to the as- sessor is made. Before this law was enacted the law in this state defined “Moneys and Credits” as an amount to be as- certained after deducting the debts actually owing to offset the demands described as “Moneys and Credits.” In the new law, although there is no specific repeal of this definition and application, the supreme court held it is repealed “by implication.” As an illustration, a business man may have outstanding in his books $10,009 of notes and accounts owing owing to him for merchandise sold; and in order to carry his customers he may have an equal amount bor- rowed, and as is usually the case his debts exceed his “Moneys and Cred- its.” 1Is it fair then or is it just, no matter how low the rate is fixed, to make him pay taxes on such an item? Take another illustration, : A wagon manufacturer buys ma- terial on credit to make a car load of wagons, which he sells on credit to a dealer, who in turn retals them to farmers on credit “till fall.” If under the op‘;;ation of this new law the “Moneys and Credits’ asses- sor finds the three “credits” those wagons will have paid taxes three times before the farmer finally pays taxes, also, on the same thing. It seems that at least in the senate The next legislature should take up the matter and either repeal the law or ameénd it in the interests of justice. Outside Comment. St. Paul Dispatch: Unless it is aided by the knowl- edge of the situation right here at home, the outside political world is quite likely to go astray in its de- ductions from the results of the pri- mary election in Minnesota. This outside interest naturally is acute. The rest of the country is looking at Minnesota to learn what the election indicated as far as the struggle be- tween the Progressives and Republi- cans might disclose it, but unless its vision is guided by familiarity with inside conditions it will get a very distorted picture. Returns at this time, for instance, indicate the nomination of Eberhart for governor and it would be natural for outside observers to conclude that this meant Taft popularity in Min- nesota, as Eberhart has been associ- ated with the Taft side of the na- tional controversy. But the same re- turns would seem to show that Mana- han leads in the race for congress- man-at-large, which might be taken to indicate that LaFollette or Roose- velt sentiment dominates. The lead which Nelson apparently maintains over Peterson for senator might rea- sonably be taken to indicate that the Roosevelt sentiment for which Peter- son stands is not the most popular, until it is remembered that the Nel- son candidacy is by no means asso- ciated with that of Taft or opposed to that of Roosevelt. There are too many wheels within wheels in Minnesota politics to per- mit the isolation of any one of the results of yesterday’s election and make it the basis of a conclusion af- fecting national politics. In none of the leading candidacies was this is- sue sharply defined; or, if so defined, it was so modified by personal and other propositions as to become sub- ordinated. The outside observer, looking to Minnesota for national political straws, will find little to assist him in arriving at the correet conclu- the law became law by only one vote. |* sion. The national battle is not on We had a few state affairs to take care of first and get out of the way before we formed the lines for the national contest in November. here. AMENDMENT OF CERTIFICATE OF INCORFORATION. This certifies that, on August 12, 1912, in the City of Bemidji, Beltrami County, Minnesota, at a-specfal. meeting of the, stockholders of The Beltrami County Savings and Building Association called for the express purpose of amending (g its certificate of incorporation as indi- cated below, of which meeting and the M purpose thereof due notice was given to each stockholder as required by law and the by-laws of said association, the folowing resolution was then and there unanimously adopted by a majority of all shares of stock issued by said asso- (g ciation and by the majority of all the |& stockholders thereof, viz: “Resolved, That the first subdivision of Article I of the certificate of incor- poration be, and the same hereby is, amended to read as fololws, to-wit: “The name of this coporation shall be BEMIDI1 BUILDING AND LOAN AS- SOCIATION.” THE BELTRAMI COUNTY SAVINGS & BUILDING ASSN. JOSEPH P. LAHR, Pres. WILLIAM C. KLEIN, Sec’y. (Corporate Seal) State of Minnesota, S8. County of Beltrami. Before me, a notary public: in and for the county and state aforesaid, person- ally appeared Joseph P. Lahr and Wil-|ig liam C. Klein, to me well known, who, being first duly sworn, depose and say each for himdelf, that they have read the foregoing certificate and know the contents thereof; that said Joseph_P. Lahr is the president and said William C. Klein is the secretary of the corpo- || ration therein named; that the seal at- K tached to said certificate is the corpo- & rate seal of said corporation; that the same is executed on behalf of said cor- poration by authority of its board of di- | rectors; that the execution thereof is the free act and deed of said_ corporation and their own free act and deed; that |5 the facts set forth in said certificate are |@ {rue; and that said certificate contains A true and correct copy of the resolu- tions adopted as therein stated. JOSEPH P. LAHR, \ WILLIAM C. KLEIN, Sworn to, subscribed, and acknowl- edged before me this 30th day of Au- sust, 1912, H. J. UNRUH, Notary Public, Beltrami County, Minn. My commission expires Nov. 21, 1917. H. J. UNRUH, A. G. WEDGE, JR. (Seal) State of Minnesota, Department of Banking. St. Paul, Minn., Septmber 3, 1912. The action of the stockholders of the BELTRAMI COUNTY SAVINGS AND | BUILING ASSOCIATION, in voting to change thelr corporate title to read “Bi MIDJI BUILING AND LOAN ASSOCI- ATION,” is hereby approved. KELSEY P. CHASE Superintendent of Banks. (Seal) State of Minnesota, Department of State. I hereb ycertify that the within in- strument was filed for record in this office on the 3rd day of Sept. A. D. 1812, at 11 o'clock a. m., and was duly record- ed in Book 3 of Incorporations on page 755. JULIUS A. SCHMAHL, Secretary of State. Office of Register of Deeds, Beltrami County, Minn. I hereby certify that the within in- strument was filed in this-office for ree- ord on the 11th day of September, A. D. 1912, at 9 o'clock a. m., and was duly recorded in book 7 of Miscellaneous, on page 348. iy e T 1. 0. HARRIS, (Seal) Register of Deeds. WOMEN'S WEAR Many new garments are daily added to our Ready-to-Wear department, as soon as a new This week many new coats have arrived for ladies and misses also a nice lot of little girls coats. note the superior workmanship, the modest price. All Woo! Sweaters We are showing all wool sweaters in all the desir- able shades at style is out we have it. price 9 Other grades as low Ladies’ Mackinaws All wool mackinaws, made up plain, All Wool Mackinaws Made up Norfolk style, colors tan, wme and plaid, price........ccccovvererninnnniiil Mackinaw By the yard, 56-inch wide, a yard. Dress Goods We have received direct from the mills some new dress fabrics, the new rough weave for which there is such a de- mand, also serges and whipcords. Special for Friday and Saturday 100 pair of ladies’ fine shoes, values to $5.00, choice a pair... Men’s Clothing and Shoes In the Basement. Cood Place to Save Money Call and see them, as $2.50 $10.00 Cloth ; $2.50 $1.98 A : stock-selling proposition. . or stop up a crack you do it for his benefit. E GETTERS MORE than five hundred homes are being paid for through the Northwestern Building Association, of Fergus Falls, the great co-operative bank of Northern Minnesota. In 1911 the Northwestern Building Associa- tion loaned more than $100,000 in the cities and villages of northern Minnesota, to aid pecple in -building and buying homes and permitting them to be paid for in small regular installments. It is prepared to loan an- other $100,000 in 1912, and of this amount wants to place $25,000 in Bemidji a million dollars. Its loans now exceed a quarter of There is no way so easy and so cer- tain gf paying for a home as the small regular payment. This Association gives its members every condition which makes their loans easy to handle. paid off at any time. Loans can be Partial payments can be made thus reducing the size of the monthly payments. The Northwestern Building Association is not a When you borrow money of this Association you do not have to pay in and wait until the money is accumulated, but as soon as you sign your papers and the title is examined you get the loan for which you have applied. The monthly payments to this Association on a2 home which you own yourself are not much, if any larger, than. you would pay as rent for the same property. When you: pay the rent the landlord owns the home and has the rent. When you drive a nail If you own the house where you live you can constantly add to its value through your own efforts and without much expense increase your comfort and pleasure. Everyone who borrows of this Association borrows upon exactly the same terms. The small borrower on a modest home gets the same conditions as the man who borrows on the most expensive one.. The The monthly payments are $1.50 for each $100 that you borrow. If you need $500 your payments are $7.50 per month, if you need $800 your payments are $12.00 per month, or if you need $1000 your pay- ments are $15.00 per month. This includes interest principal and every other charge. If the payments extend over 100 months, the amount is reduced to $1.00 for each $100 borrowed, so that on a $1000 loan after 100 payments you would pay but $10.00 a month., Thus far in the history of this Association all loans have matured inside of 108 months, and we are prepared to make a definite contract on this basis ‘where one prefers it to borrowing on the mutual plan. If you want to buy, build, or borrow to pay for the home which you now have, write for further informa- tion. Northwestern Building Association of Fergus Falls Opposite U, . Government Bmldmg, Ferg!ls Falls, Minn. ELMER E. ADAMS, President. JOMN LAURITZEN; V. Plesident. ROBERT HAMNAH, Secretary. WL PARSONS; Attorney. F. 6."BARROWS, Treasurer. The Growth of the Northwestern Building Association Jan. 1, 1904 ... Organized Jan. 1, 1905 .$ 24,489.89 July 1, 1905 . 42,046.42 Jan. 1, 1906 68,292.34 July 1, 1906 81,621.89 Jan. 1, 1907 82,853.39 July 1, 1907 .. . 91,040.15 Jan. 1, 1908 .. . 116,350.62 July 1, 1908 .. . 144,835.65 Jan. 1, 1909 .. . 146,465.35 July 1, 1909 .. . 151,910.40 Jan. 1, 1910- .. . 160,919.33 July 1, 1910 .. . 166,507.76 Jan. 1, 1911 .. . 185,936.81 July 1, 1911 .. . 210,858.12 Jan. 1, 1912 ., . 264,916.35 July 1, 1912 270,598.90 Places Where me Money is Loaned Alexandria . ......c000nen $ 2,500 Audubon . e 300 Barnesville . .. 5,300 Battle Lake 1,200 Preckenridge . 2,200 Brainerd . .. 4,300 Bemidji . . 30,050 Campbell . . 1,600 Callaway ... 6,500 Dalton . .... 1,000 Deer Creek . 3,760 Dent . ..... 6,100 Detroit . . 1,900 Dilworth . .. 1,300 Deerwood . . 1,600 Elbow Lake . 600 Fergus Falls 39,300 Frazee . . 25,360 Glyndon . 750 Hitterdal . 1,000 Hawley . . 5,360 Henning . .. 2,360 International Falls . 29,660 Kent . ......... 1,200 Lake Park ... 4,950 MOIDY: 3is ey 1,200 Moorhead . . 900 N. Y. Mills . 1,800 Otter Tail .. . 600 Perham . ..... . 14,050 Parkers Prairie 2,350 Park Rapids ... 3,800 Pelican Rapids 3,650 Richville . ... .. 2,300 Staples . ... . 14,650 Underwood . .. 4,900 Ulen . ..... .. 15,850 Vergas . ... . 10,900 Wadena . . 1,400 ‘Wendell . . 400 OFoBbY.:. .~ ieivi sinioive 900 $259,550 Information will be given and p'ape1;s~ executed at office of . 6. Wedgs, Jr, 1st National Bank Bik., Bemid, M, P; S. We refer yo;l to any bank in Fergus Falls or to any bank = in the'towns where we do business as to-our standing.