The Bismarck Tribune Newspaper, June 21, 1919, Page 6

PAGES. TOWNLEY GOES TO BROKEN DOWN POLITICAL HACKS AND RADICAL SOCIAL IsftSs FOR HIS SUPPORT D.C. June 17, 1919. ribune Editor Bismarck Bismarek, North Pakota, Dear Sir: T have been following with deep In- terest the campaign on both sides re- specting the adoption by the people of North Dakota. or the rejection, of the legislative program now submit- ted to a referendum. | believe there is one phase of the matter than can be utilized rongly by those oppos- ing the rat ation. Some we ago the Nonpar' league representative here in V ington, Todd, made a eanva all the ra in and out of publi “BAYER CROSS” ON GENUINE ASPIRIN “Bayer Tablets of Aspirin” to be genuine must be marked with the safety “Bayer ( . Always buy an unbroken Bayer package which con- tains proper directions to safely re- lieve Headache, Toothache, Earache, Neuralgia, Colds and pain. Handy tin boxes of 12 tablets cost but a few cenis at drug stores—larger packages also. Aspirin is the trade mark ot Bayer Manufacture of Monoaceticacid- ester of Salicylicacid. j less life. asking first that they go out to North Dakota and campaign in favor of the ratification, and failing in that, asking them to write letters rec- ommending the ratification. I have reason to believe he spent at least two or three weeks hard at work on this job. It was expected by him and (hose he represented that a large number of endorsements would be re- ceived and several persons found who would go out to campaign on their side. Of course he canvassed all the radicals in the Administration and in the congress, as well as certain ones not in public life. It is to me extreme- ly significant that after this great ex- penditure of effort, this searching trial, the results have been practically nothing. only recommendation which they have received and publish. ed has been the one by Louis F. Post, assistant secretary of labor, who is the arch radical socialist of this place. ary that I give the de- ‘ost's career. You doubt- have them. He is universally recognized as a radical socialist, one of the most consistently irresponsible sor ts one can imagine. His letter, published in the Nonpartisan league paper, indicates they asked him to go out to campaign, but. he declined and instead wrote a letter of recommend- ation. Anything this red socialist rec- ommends honest people should repud- iate. So far as I am able to discover, just one other recommendation was receiv- ed, and that is by former Senator Mc- Laurin of South Carolina. Twenty years ago the people heard a great deal of McLaurin. He of course has had no ‘part in public life since his unhappy political death twenty years Spend less money for new clothes. leaned often by the They'll look like new and satisfy NEVENS CO., CLOTHES CLEANED OFTEN WEAR TWICE AS LONG Nevens Company Minneapolis’ largest laundry and dry cleaning establishment. 1203 Marquette Ave., Have your old ones French dry too, Best work at right” prices. MINNEAPOLIS SSSSS DEPOSITS BY OUR PARTICIPATION IN THE STATE DEPOSITORS GUARANTY FUND SECURED Save on the Up-grade . Charts have been made of the average workers earning capacity. The charts show that up to the age of from 35 to 40 the great majtrity have a constantly increasing earning capacity. Past that age the average salary declines instead of increasing. No matter what your prospects show, it is a good plan to save as much as you can when your earning capacity is on the increase. Then when the scale starts the other way, or when it reaches the fixed point you will be free from the worry of the wage earner who dreads middle age. Save while you are on the up-grade. BISMARC K BANK Bismarck,N.D. zt Bismarck,ND.. a The Oldest and Largest Bank in this sectionof the State. Maximum Safety Satisfactory Interest Return Interest-Bearing Cer- tificates of Deposit is- sued by this bank afford their holders maximum safety and satisfactory interest return. The Certificates of De- posit issued by the First National Bank of Bis- marck, constitute an ideal investment, .perma- nent or temporary, for the surplus funds of bus- iness men and farmers. When you are ‘in Bis- marck call at the bank. We will gladly give de- tailed information with- out obligation to you. Al Crooks . Producing «Clown and,a big corps of ‘assistants coming: in Barnes Circus. ago. Pitchfork Een Tillman put him politically to sleep forever.. He is of course an:outcast and one who feels disgruntled. toward everybody who has’ done something ‘successfully in this. world; everybody who is some- thing in the world. I should think that the papers of North Dakota should immediately call attention to this rather vigorously. They could show that the program of North Dakota is so radical that even the arch radicals of the nation re- fuse to subscribe to it.| [I send you this information hoping you wili be able to make use of the came, With sincere regards, Truly yours, MEMBER OF CONGRESS. The Valley City Bank Deal; All With Sanction and Full Knowledge of League—Hastings (Continued from Page One) somewhere around $50 a share bonus for his controlling inter- est. Then | picked up the bal- ance of the stock at a very much lesser figure. \By Mr. Langer: Q. The total was Roughly speaking. Q. Yon bought it for what was in it? A. 1 bought the bank so that it could be turned over to the farmers at actual book value, which will abso- lutely show on the statement, but you see part of the assets are not book agscts, so we have put in $15,000 in the bank to bring it up to the $200,000 capital, with thé surplus or undivided profits in addition. Q. You paid $162,000? ly speaking, yes. $162,000? = A. A. Rough- Q. Did you make any other money, aside from your ten per cent, you .or anybody else? <A. No, not directly from the bank. I made money from it on the deal. Q. ‘How much did you make? A. | rather not, tell. It is not a matter that I think should ‘be spread so long as the assets are there. Of course, if the asscts are not there, we would have to put it in. Q. When did you put in $15, 0007 A. (Showing paper) Today. Mr. Waters: In the examination Halvorson found the surplus im- paired $15.000, and so Jack and Mr. Grady and Olson told me this morning. | told them they had to make it up, and they said they would call this.cashier up. You said we have to put this money in there, but we will call him up and have him wire you that. it has been done. By Mr. Langer: Q. That was not put in till Halvor- son insisted it should be, put in? A. Yes, | was told about it one evening about nine o'clock, and | had to go to St. Paul that evening and leave Mr. Aamoth to make the entries and transfer, and it is these approximate- ly $20,000 worth of outside assets we will realize $15,000 on. They cannot go in the bank as actual assets. We will have to take them up ourselves and take our cash for it. Q. DID THE FARMERS KNOW THAT YOU MAKE A RAKEOFF FROM GRADY ON: THIS DEAL? A..IT WAS NONE OF THEIR BUSI- 'NESS WHATSOEVER. Q. You didn’t figure any trust relation existed between you and the farmers you were buying the stock for? A. None at all. My deal was absolutely with Grady, and the general understand- Ing of everybody was that we were to take this bank over at.a clean valuation. es Q. There is some stock owned by the United Stores Company? A. Yes, sir. Q. How did. they get mixed up,- with it? A. They were one of the. first purchasers of the stock. Q. It is $9,000 worth? A. No, they have a hundred shares of stock. The League Controls. Q. $10,000° worth? , A. They have one: hundred shares. The principal thing is we have con- trol of the bank:through seven or cight people mostly connected with the league. -Our intention was to’keep fifty per cent of, the ° stock. | was talking with Mr. Townley in St. Paul. and 1 told him how far | had: got, and: he said, you are keeping ‘part of it, and |. «said yes. and he said to keep fifty per cent. of the stock, and | found there was 783 shares sold out of 2,000.. We will take as much stock right’ to.the. fifty per cent.or more, if nécessary. Q. Does ‘the Consumers’ “Stores Company own any. other ‘stock in the banks of the state? A. 59 shares (Continued on Page Seven.) ve “Q. You didn’t make anything in the transfer? A. No, not in the transfer. G BISMARCK DAILY TRIBUNS _ SPECIAL: County as established by the County Comshissioners of said County Witness my hand and official seal this 9th day of June, 1919, (BEAL) i ; REFERENDUM OF LEGISLATIVE ENACTMENT STATE PUBLICATION AND. PRINTING: COMMISSION. Senate Bill No. 157, Session Laws 1019 * 55 SENATE BILL No, 157, An Act creating a State Publication and Printing Commission; Rreacribing, its duties and powers and repealing: all acts in conflict herewith, Creates State Publication and Printing Commission. Provides that Commission shall be composed of Secretary of State, Commis- sioner of Agriculture and Labor and Chairman Board of Ratlroad Commissioners, Authorizes Commission to appoint a State Printer who shall be secretary of Commission at a salary of $2,400 per year and requires that he shall be expert printer and resident of the state at least one year. E Gives Commission power to make all printing: contracts for the State and to designate one 2 wspaper in each county as the official newspaper ‘in. each county to be the’ official newspaper in:the county until its successor chosen as provided by Senate Bill No, 158. Provides that all proceedings of the Board of County Commissioners and all other notices that are required by law to be published by County officers shall be published in such paper. 2 Also that all summons, citations, notices, orders or other processes or pro- ceedings in the various County, Justice, District or Supreme Court; all publica- tions of every nature required to be made by State Officers; all notices of fore- clogure on real estate and chattel mortgages or other liens on real estate or per- sonal property and all notices of whatsoever kind now or hereafter required to be published in any county shall be published in the said official newspaper. E Provides that towns,’ villages or cities that have no official newspaper pees lished there may designate any paper for the publication of notices and legal publications requi; to be made by the officers of such town, village or city. Gives Commission power and makes it its duty to select one or more lega] news- papers for publication of all state legal notices, including reports of: corporation: now required to be published by the Insurance Commissioner, Secretary of Sta! and all other officers. Provides that two copies of all newspapers designated as. legal newspapers under this Act shall. be filed. with the Secretary of the Commission and that he may furnish certian copy of any matter in such papers to any citizen at a cost-of. cents per folio, Declares it to. be the intent of the law to co-ordinate publication of all legal notices, reports, Fie. and to. economize in: state printing and to have complete system of files of ma publications and certain legal newspapers. Repealg all oop icting laws. Shall Senate Bil’ No, 167, passed by the Sixteenth Legislative Assembly, and approved by the Governor March 15, 1919, be approved? YES NO REFERENDUM OF LEGISLATIVE ENACTMENT Board of Administration Senate Bill No. 134, Session Laws 1910 SENATE BILL No. 134, The same being an act providing for the administre~ tion of the. penal, charitable and educational institutions, and of the public schools of the state; providing for the management of such institutions by a Board of Administration; providing for its appointment and defining its powers.and duties; making a@ appropriation; and repealing all Acts and parts of Acts in conflict therewith: 4 Creates a ‘Board of Administration” for the supervision of all penal, charitable and educational institutions and the public schools, to consist of the State Super- intendent of Public Instruction, the Commissioner of Agriculture and Labor, three others to be appointed by the Governor for a term of six years, subject to remoyal for cause, Fixes the bond at $10,000.00 and salary at $3,000.00 of appointive members; and requires them to give all their time to the duties of the office. Authorizes the Board to employ a secretary and other assistants, and to fix their compensation, determine their qualifications, and remove them when the public service demands it. : Empowers the Board to assume all powers and perform all duties of the State Beard of Education, Board of Regents and Board of Control. eB Powers and duties of the Superintendent of Public Instruction shall not b abridged. See Section 9% of the law. i. Empowers the Board to appoint a School Commission consisting of the Super- intendent~of Public Instruction, one County Superintendent, one City Superin= tendent, the High School Inspector, and one other member, to investigate the kind and cost of Mbrary and text books for use in the public schools, and the question of uniformity of text books, and printing and distribution of same by the State, and to make findings and recommendations to the Board. = Requires the Board to appoint an Educationa} Commission to consist of the State Superintendent of Public Instruction, one County Superintendent, one City Superintendent, one representative of Normal Schools and one representative of the University and Agricultural College, to have charge of certification of teachers, standardization of schools, examination for Eighth Grade and High School pupils, and preparation of ‘courses of study. Requires Board to install a system of bookkeeping and auditing of-all moneys received and expended. Requires the Board. to file an annual’ report with the Governor. i 3 jperapriates $40,000.00 annually for the'‘purpose of carrying out the provisions ct. of the Bill’ No, 134, passed by the Sixteenth Peale jative Assembly, and Shall Senat approved by the Governor March 6, 1919, be approved REFERENDUM OF LEGISLATIVE ENACTMENT TAX COMMISSIONER SENATE BILL No. 67, An Act providing for the appointment of a Tax Com- missioner; preserihing -his qualifications, powers and duties; fixing his salary and term of office; and repealing Article 4, Chaptter 34, Compiled Laws of North Dakota, 1913, as amended by Chapter’ 232, Laws of North Dakota, 1917, and all other Acts and parts of Acts in conflict -herewith. Abolishes present Tax Commission. Provides for the appointment of a Tax Commissioner for| term of six. years. Giyes Governor power to remove Tax Commissioner and appoint successor’ to fill vacancy by appointment, Specifies that Tax Commissioner must possess knowledge of taxation and can- not hold any‘other office under the laws of this or any other State or the United States, nor engage in any other occupation or businesg interfering or inconsistent with his duties. ‘Privides for annual salary of $4,000.00. Provides that Commissioner shall have charge of administration of revenue laws, assess all taxes upon express, telegraph, telephone, freight line and car companies, etc. Upon all Corporations, the State Income Tax and all other taxes levied and collected by the State. Provides that Tax Commissioner, subject to the approval of the Board of Equalization, shall— ry Have supervision over all assessors and all assessing officers. (B) Give instructions and- directions to act as supervisor of assessors. (C) Appoint within each County, subject to approval of County Commissioner a Supervisor of tax assessment. (D) Direct actions and prosecutions to enforce laws relating to penalties, Nabjiities and punishments of public officers, persons and officers or agents o! corporations, for failure jor negligence ‘to comply with provisions of the statutes governing the making of returns, assessments and taxation of property or income or other subjects of taxation. Se ¢ Authority to call on State's Attorney to assist in the commencement end prosecution of actions to enforce tax laws. 3 Require township, village, city, county or other public officers to re- port information as to collection of taxes, expenditure of public funds, etc. Require individuals, associations and corporations to furnish information concer tig! their debts, assets, earnings, etc. ‘'H) Be responsible for all income, corporation end other tax returns includ- ing, iptormation furnished to the collector of Internal Revenue. “(1 Summon witnesses to give testimony relating to any matter which he or the Board of Equalization have authority to investigate. (J) Cause deposition of witnesses with or without the State to be taken, (K). Require, County Auditors to furhish and file complete abstracts of: real and personal property as-equalized by ‘the County Board, together with type- written’ copy of proceedings of sald Board. aj (L). Appoint a special assessor and deputies under him and cause a reassess- ment‘of real-or personal property or other subjects or objects of taxation subject to review by. the ‘County Board, ‘ ‘i (M) Require County Auditors to place omitted property on the assessment rolls, 'N) Examine carefully. all complaints of taxable property escaping from taxation. } 0), Conter with the Governor onthe subject of taxation and administration of laws thereto. aS (P)° Transmit’ to the Governor and: Legislature, 80 days before meeting of the ‘Legislature, report of taxable property valuations. with recommendations. (Q) Visit ‘personally ‘or by deputy the several counties of the State as often tion and super viblon of County Supervisor ‘ounty.and District Boards - of . Equalization and other tax officials, and call meeting each year of all Supervisors and Asses- sors of Income and ‘other ‘taxes than General Property Tax. | Expenses of each County Supervisor atttending such meetings to be paid out of the County ‘Treasury. (R): Investigate tax systems of other States and Countries. Recommend legis- lation to’ prevent ‘evasion’ of, taxes and for the improvement: of the revenue sys- tem of the State. The, Commission -may with the consent ofthe Board of Equalization visit other States, attend conferences and conventions, or in person confer with ‘tax officials of other States. ‘Expenses so incurred while doing so to-be paid out of the State.Treasury on certification of the Board of Equalization. (S) Certify all levies, assessments, equalizations or valuations. made by him or. by the Board of Equalization, not later than 30 aays after. same has been made or as- otherwise provided : by, law. : £ (T) To contract with individuals out of the State for furnishing information leading to- collection of taxes, compensation therefor to be paid by warrant issued ‘by the Commissioner-upon: the subdivision of Government benefited. ‘All-expenses te as ‘practicable’ or needful ‘for investi of Assessments: ‘Local.Agsessors, Provides ‘for’ maintenante- of ‘offices in. State Capitol Building. be paid in the ‘same maniter.as other state expenseg of deputy, clerks, experts an assistants while travel{ng, on. business of ‘the Commissioner's office to be paid by .the' ‘State. providing that total amount so expended does not exceed ‘the sum appropriated. in-any, one-year. : : All powers-and duties heretofore imposed upon the North. Dakota Tax Com- mission, ‘which is: abolished,’ are conferred-upon the Commissioner, subject to the supervision of -the State” Board: of: Equalization. 4 Gives authority :to:' appoint such deputies, experts, clerks or other assistants. Salaries and expenses to.\be.audited and paid inthe same manner. as the-salary and expenses‘of the. Commisstoner, provided the total’expense for. ‘such’ salaries and -expenses shall: not: exceed’ the aanauintrapprenria) ea therefor in any. one year. In ‘case of. refusal' to .make-returns: required .by law, or. where: Commissioner shall-have ground to believe that any person, corporation, company or association has made any false or, fraudulent. returns, the Commissioner is empowered to examine. books, reportss: documents or accounts relating tothe payment of .euch tax,,and to summon. witnesses and to compel the production of books:or records. Jurisdiction also" conferred-:upon \ District’ Court‘ to: compel : the . attendance . of witnesses: or. patties involved to- produce books and records. x Provides that any, unused: balance of appropriation for year ending July 1st, 1919,, for the Tax Commission, sHall’be\avallable to. be expended under the-direc- tion of the Tax Commissioner, ‘ ee Eg Aitis Repeals all: Acts :in-conflic! ‘Shall Senate'-Bill’ No.. 67, approved’ by. the Governor: M tive Assembly, and by, the Sixteenth Leg! 11919, be: approved? SATURDAY, JUNE 21, 1919. CTION E Submission of the following propositions: In compliance with Sections 975 and 979 of:the Compiled Laws of North Dakota for 1913, 1, T. E. Flaherty ,County Auditor of Bur- leigh County, North Dakota do hereby certify that the following is a true and correct list of the measures against which referendum petitions have been filed as certified to me by the Secretary of State, and which, in compliance with the proclamation of, His Excellency, the Governor of the State of North Dakota will be submitted to the electors on Thursday, June 26th, 1919. y The Polls will open at 9 o’clock A.M. and continue open until 9 o’clock P. M. of that day, in all the regular polling places of said of Burleigh, N. D. eae -T, BE, FLAHERTY. : County Auditor of Burleigh County, N. D. REFERENDUM OF LEGISLATIVE. ENACTMENT COMMISSIONER OF, IMMIGRATION % x House Bill No .123,-Session Laws 1919, HOUSE BILL No. 123, An Act creating the office of the Commissioner of Immigration. + Provides for appointment of Commissioner by the Governor,: term. of.offcp two years, salary $2,600.00 per annum. 4 Requires Commissioner to furnish bond in the sum of $10, 000.00, pees Provides that the Commissioner of Immigration shall advertise resources, ad- vantages and opportunities as a place of residence for farmers, jaborers, an@ mechanics for the purpose of bringing settlers, investors and industries to e State. Requires Commissioner to compile statistics and information with reference to Bauce tone! facilities, social conditions, government industries and industrial conditions. ; Requires Commissioner to advertise and distribute information by means of butietins, pamphlets, correspondence and advertisements. . % Provides that Commissioner shall handle all correspondence Perietaing to sul jects mentioned in this Act, and shall co-operate with the United States Bureai o immigration as far as practical, and shall assist immigrants-and others. to "and 2 homes in North Dakota, * : Provides that Commissioner of Immigration shall maintain offices in the State Capitol Building, employ and fix the salaries of all assistants, and file a statement with the State Auditing Board of all salaries and'expenses. © t < Provides for an ‘Sppropriation, of $200,000. . Provides for repeal of all Acts in conflict. Shall House Bill No, 123, passed by the Sixteenth Legislative Assembly, a approved by the Governor March 6, 1919, be approved? YES NO | REFERENDUM OF LEGISLATIVE ENACTMENT : INDUSTRIAL COMMISSION, House Bill No, 17, Session Laws 1919 HOUSE BILL No. 17, The same being an Act creating the Industrial Com- mission of North Dakota, authorizing it to conduct and manage on behalf of the State certain utilities, industries, enterprises and business pror peels: and defining its power and duties, and making an appropriation therefor. , Creates the Industrial Commission of North Dakota to conduct and manage certain utilities; industries and business projects. Constitutes the Governor, Attorney General and the Commissioner of Agricul- ture and Labor, the Industrial Commission, two of whom shall constitute a quorum, but requires the approval of the Governor of all orders, rulings, by-laws, or contracts before_they become effective. ‘Authorizes the Commission to employ secretaries and other subordinate officers on such terms as it may deem proper; to fix their bond and compensation, and to discharge'them when in its judgment the public interests may require It. Empowers the Commission to manage, operate, control and govern all uttlities, industries, enterprises, and business Prodects, undertaken by the State,. except those carried on in the penal, charitable or educational institutions. {a) ‘To locate such enterprises. (b) To purchase, lease or condemn all necessary property and sell the same; to construct necessary buildings, and to equip and maintain. the same. (c). To appoint:a Manager and all necessary subordinate employees of and for each such enterprise; to employ contractors, architects, etc., to define their duties, designate their titles, and fix their bonds and compensation. ee ; d) To discharge employees when in its judgment the public interest re- quire { t. e) To fix the prices of things bought and sold, and the rates and charges for services rendered. 3 ee eee, f) To make rules and regulations for the management end operation of ( euch enterprises. (g) To procure the funds for such enterprises by negotiating State Bonds in guch amounts as may be provided Dy law. (h) To conduct investigations of matters connected with .such enterprises; to compel the attendance of witnesses and the production of all books and property material to such investigation. . i) To-make rules and regulations for its own procedure. equires the Commission: to prepare an annual report and file. with the Sec- retary of State, containing an itemized amount of expenditure and a detailed financial statement’ ofeach enterprise. = vce. = -. Appropriates Two, Hundred Thousand Dollars to carry out the provisions of the Act. e Sait House Bitt'No. 17, passed by the Sixteenth Legislative Assembly, and approved by the Governor February 25, 1919, be approved? YES REFERENDUM OF LEGISLATIVE ENACTMENT Seg JUDICIAL DISTRICTS é House Bill No, 124, Session Laws 1910, HOUSE BILL No. 124, Being an Act providing for Judicial Districts, udaes thereof, their compensation and method of payment, terms of Court to held, powers and duties. of such Courts and the procedure therein, repealing alt acts and acta of Acts in conflict therewith. . vides the State into Six Districts. . : rovides that the terms of Court to. be held in each County and location of Judge's Chambers. shall be fixed by the Supreme Court in such manner, that each Judge may have a Circuit within his District and so that no Judge ‘shall hold two consecutive Jury Terms in any County except in the County of Cass. Fixes manner of electing Judges, and their term of office at Four Years. Provides that present Judges shall be retained during their. term of office. . Provides that Districts having more than one Judge, the longest in con- tinued service shall be the presiding Judge. mae Requires the Supreme Court to adopt uniform rules of procedure for the Dig- trict_Courts, - Provides for Changes of Venue from one Judge to another of same. District; or in another Districts or from one County to another, or from one Bistrice & nother. . ati . Requires. the Govérnor to appoint an additional Judge for the First, Third, and ‘Sixth Districts to hold office until the next General Hlection. Bs Fixes the salaries. of District Judges at $4.000.00 and actual traveling expenses. Repeals all Acts and parts of Acts in conflict therewith. Shall House Bit-No, 124, passed by the Sixteenth Legislative Assembly, and approved-by the Governor March 3, 1919, be approved? YES NO THIS REFERENDUM OF LEGISLATIVE ENACTMENT BANK OF, NORTH DAKOTA * House Bill No. 18, Session Laws 1919 LL, No. 18, The same being an Act declaring the purpose of the FOR tnte of North Dakota to engage in the Banking Business and establishin, @ system of banking under the name of the Bank of North Dakota operate by the State, and defining the scope and manner of its operation, en the powers and duties of the persons charged with its management;. mele ing an appropriation Last eors and providing penalties for the violation of visi reof. ay Cresta ac eyoicmn oe bankin controlled and operated by the State und nam rt akota. “ 4 ae 1 one Bank: under one supervision of the Industrial Commission: an senna inoriaes othe * industrial “Commission to -purchase, lease, or condemn all requisite ‘property, and to’construct and repalr, buildis but prohibits. it from investing more than ten’ per cent of.the capital of the ik: in buildings, or. fix- tares for. office ‘purposes. r : te od “the: ‘ission to employ a manager and subordinate officers, and suet aarsctors. architects and other agents as in its judgment the -inters ‘of ‘the State’may require; en as define their duties, designate thelr titles and f i nsations. . tpetuthorizes. tne Commission ite aischarse such employees whenever in its judg- ment the public interests require it “ % ‘the: Bank to transact business whenever bonds in the sum of Two nn eatin ten ope delivered to the Comnitasion, the fund: procured: by ‘the gale of suth ‘bonds'to be known as the Capital .of the ank, 7 + Requires, all: State, ‘County, Township, ‘Municipal and School District Funds, and°funds of-ail-penal,: educational and industrial institutions and all other publio funds to. be: deposited ‘in the Bank within’ three months from: the approval of the Act, and‘makes a violation of this provision a misdemeanor, punishable. by: fine one tennis "Tram lability for loss, official depositing public funds in. sald. Bank, andthe sureties on‘ his bond.” ‘ ‘izes the Bank to receive deposits from any source,.and authorizes funds to:be deposited to, the credit: of the ‘Bank in any other bank provided :by:.the Com~ mission. ae aes . 11 deposits in:the Bank; and exempts them from taxation. © - i 1 poietic Gommission’ tox rates, Of, Interest allowed: and ‘recelved:.ani B for services rendered -by the Bank. — parr 33 hg enon i Bank to transfer: funds to other departments, institutions, util: ities, enterprises and: all industries-of. the State; to make: loans to political-sub- ivisions. thereof, or-to.State or ‘National: Banks,. and: to make mortgage:loana an real ‘egtate in ‘amounts not to exceed, one-half its value,: or, on .warehoui ‘ipts not to'exceed ninety. per cent’ of the value of the commodities evidence here 3 but prohibits it from loaning on real estate security more than thirty per’ cent of its itat-nor, ° iddition thereto, more than twenty per.cent‘of=its depot “Authorizes.the ‘Commission »to prescribe the form: of application for mor' jJoans,. and “provides: for appraisal”of real-estate. | — te \ +. Requii “thé real-estate loangs;to. be secured by recorded first -mortgages:of real-estate, within the State, “and ‘requires ‘the. mortgage: to, contain a provision ‘repayment on-‘an: ‘amortization-‘plan. Pan = pets for pepe ticos: the industrial Commmfssion to extend all payments under any reat tteage ‘for: one year‘in cage: of crop re. oy Eee Seek cotate thorizen the! ‘Commission ‘to; assign’ such mortgage to the State Tressurér C ‘for ‘bond «issues. - at ‘ ben ow by aecthgtizes-elvit-actions against: the State on account of causes of action aris- of étions.connected with the operation of: the Bank. mi ing: Put Grea tho State: Bxaminer ‘to, inspect the Bank at’ Teast’ twice.a year, and report: the: results: thereof .to'the Commission and to the ensuing Legisiative As- nd-Dollara to.carry out the ‘provisions -ot ;by the’ Sixteenth Legislative Assembly,” and %, 1918, be ‘approved? ‘ ry: ) “4 ve ag o Lay ie i] 7 . . 5 d ‘ bs 4