The Bismarck Tribune Newspaper, February 5, 1921, Page 2

PAGE TWO : -STATE’S POLICY ON REC- ORDS.NOT. ANNOUNCED Centinued from page 1) them into sections of ihe state wher» there was more urgent need, Asks Him to Specify. Q. Would you specify a: little bi there, and give the portions of the state from which you withdrew i portion of the funds, and the portions of the state which in your judgmeni were more in need of the mon. Give us some idea of how you altered the distribution of balances there it you can at this time. A. Well 1 suppose the same pr ple is adopt- ed by any bank to discover the needs! of the locality, and when the needs ure presented to take care of them Q. 1 am not inquiring as to the principle, 4 am inquiring as to the application of it. What particuiar place did you apply the principle tof We drew some money from the astern part’ of the state and sent it to the western portion for redeposit. Q. Now would you séy a Intl ter of fact that in any given lovality of the state, it isn't a i that your bank had absorbed this. pal money from all of the banks of © tain given locality and then redepos- ited a great proportion of it one bank and very little in the otiers’ A. No. there was no attempt at fa- voritism. Q. Have you now in mind the sit- uation in thé city of Fargo, the pro- portionate depos of one bank as st the aggregate deposits of all st of them. Have you ever had on to investigate thai? A, Yes. Q. What vould you say about that? This is just by way of, illustration— just exactly what 1 said a few min- utes ago—to repeat it—that we found deal we found in some banks. a great deal of money that under our general plan of: agreeing to leave ihe money where we found it as largely us possible, that that money was re- deposited where the treasurers checks came in on us. redeposited in the same banks, and in some cases there was a considerable halance, some- thing we are not responsible for. We never placed the money there as far as the deposits were ncerned. We found it there and left it there. Now that existed in some parts of the state. Q. Now just to carry my illustra- tion a little bit farther so that we can make ourselves clear. do you know at this time on Dec. 3, the amount of money that ited in the Scandinavian-. bank at Fargo. Just by way tration of your point could us? you tell Won't Be Willing Party, 7 A. I don’t want to be a party w ingly to divulging the relations banks, the condition of banks. If this committee feelsQdisposed to go into that subject and Stir up the mat- ter of the banks over the state at the present time in this crit condi tion existing at the present time, you may cause the suspension or br ing of a whole lot of banks in North Dakota. Now it is a delicate subject to approach and I don’t want willing- ly to offer any information in regard to any institution if thereby we are going to embarrass the financial sit- uation in the state. Q. Of course the committee, I take it, does not wish to injure any- body's bank or any banks at all, and you must realize that there is not anything that the committee can do in that respect. Now with reference to that particular bank ‘Ll am inquir- ing about now, because the matter has already been made a matter ot publicity and spread through the press? A. I have nothing to conceal as to the particular bank, but if you start. un this one it throws the bar down to open up the proposition to the whole state and you are going to run into a whole lot of troutle and danger. Q. Well, possibly there are not many others that are in similar cou- dition to this one. Mr. Chairman: May I suggest that at the present time if you desire to examine the witness and the witness so desires we might go into execu- tive session. Murphy: Well if you don’t wish the matter to be made public, | think the committee will accord you that privilege of testifying in executive session. Cathr I have nothing to cover up. What I am interested in is the financial situation in the state of North Dakota. Chairman: HEALTH FOR WORKING GIRLS Those Who Suffer and Are Unable to Work Need Helpful Suggestions The point’ is well tak- Springfield, Ill.—‘‘Ihad periodic trou- ble with weakness, cramps and back- ache and I could not work. A neighbor recommended — your medicine and I took four bottles of Lydia E. Pinkham’s Vege- table Compound. jam now strong and © well, able to work, Rimkus, R.'R. No. s 8, Springfield, Ill. | Why will - girls continue to suffer month inand month out as Miss Rimkus di@ when case’aftercase is related where Lydia E. Pinkham’s Vegetable Com- pound has removed the cause of the aable and brought good health. For more than forty years this old fashioned root and herb medicine has been the standard remedy for such ailments, and has the record of having restored more suffering. women to health than any other medicine. If there is. any complication about , your condition. you do not understand write Lydia E. Pinkham Medicine Co., Lynn, Massachusetts, in regard to your pealth, 2. 2E A i [absence from the Har Is President-elect Harding ¢| On the left he is hurrying to the Palm Beach go!f links, The right and top center pictures show, him on the links, getting re: golf clubs. Ee pI RR A EER bank as of December 3) 1920, was approximately the amount that bank had carried of public funds ‘eto, do you? "I might “advise you, you have a perfect right to insist that the records are the best evidence. pickaninny caddy who toted his en and if you went into executive ses-, sion would you feel disposed to an-| swer these questions? Cathro: . 1 don't want to any- thing that would cause thin, to be, stirred up or cause ruins on the hank. ! Mr. Lemke: May | suggest .thac the committee look, at the record and in that way form their own Yonclut sions. Wants It Under Gath. the S. A. prior th Cathro. Lemi gathro: Murphy: V well, joying his Florida vacation? wearing Mr. That was the point I was ' going to make. Mr. Cathro. Mr. Murphy: I suggest that it is How long will it take for you to go ory essential that the testimony in| over to the bank and get these rec- is ¢ be brought here and pat ord@? 1 am informed by Mr. Jo- into. this record under oath. hannsen that is in loose leaf. “Wi I would suggest that you take it from the records. Murpl We are referred to the) records constantly now and the other | day when we were, asking for them | we were told we coul¢ have them. Lemke: You werg notified at all) times that you could look at the re ords and we have shown you every | courtesy and it has been met with} nothing but insults. Mr, Sullivan: What are you’ talk- T haye ing about. Is that possible? | against. Grangaard: Well, would you pre-;, Q. What is that? fer executive session while this mai- ter was under discussion? Cathro: I have already requested j the press of all factions to’ lay off| on these bank troubles, and in order | to be consistent I cannot- willingly | 8 otfer information here that would be srread ove times. I want to see the polic ed that will serve to allay any sus- picion of any weakn of the ¢ of compa thing ' the ison and you please go to the bank and bring as the loose leaf ledger individual-de- posit records of the S. A. bank, # showing ‘all the redeposits and at th same time bring us the loose leaf de- posit records of ail the other banks yeot Fargo for the purpose illustrating point you have just made there and we will use the records. the A.’ That is going to do exactly the been warning you A. If those figures are read inte record you ipley: r the state in these ¢ itkeat | auested by counsel. adopt- | long would it take you? Well I can give you sub-; A. No. 9. Cathro: and I hope this committee will per-/ time. mit nothing to interfere with it. As! to the executive session, I am not in a position to ask it. 1 want my torneys to remain with me. If t! be perfect! Murph You 1 recognize under the! rules we can't do that? We cs recognize any attorney t Lemke: It is unconstitutlonal. in Redeposit is a very la ful document to those *who think they can use it. but they don't} care much about it when it gets in their road. Murphy: You stated that the pri ciple adopted was to redeposit ' banks as nea’ as you could amount taken from them funds, Now 1 inj} the ask you if that same not be a 1 You by 10:4 have got the things I have been cautioning you against. very I move that we recess a nt length of time to, allow Mr, cathro to produce the records as re: . Cathro, how any “place, | stantially the figures at the present Reierred to Records. Murphy: agree with you. ) 2 Recess: GO Meeting called Examination of public} sumed. By Mr. t- man who sits here as your iias referred us to the is granted an exec! utive session will. We would prefer to have the records| advises me that that would be con- {so that when we go into it we will in referred to the records. the best evidence and to order chairman at 11:45 a. of the committee, of: committee, thro, present. of Mr. Murphy: Your counsel, the gentle- counsel records, now ‘aken, motion of Mr. Shipley seconded r. Freeman, recess was taken at by the m. all members Is of the and the vitness Mr, Ca- Cathro re- Mr. Cathro nolicy was adopted with reference to} just before the recess you were re- the Scandinavian-American bank Fargo? A. lt was. Q. So you desi understand that whatever amount ap- pears to have been on redeposit with; ot WHY THE SCOWLS?—Dow't look ve ator | <i jeans, do they? Senator Hirain Joh are Be: tion of Mr. 2 confere happy far iam KE. Boral: (left), and “hey have been conspicnous by their nees of Sbest minds.” quested—it was at about a quarter of j eleven—you were requested to e this committee to! duce in accordance with ‘fhe sugges of yourself and the suggestio: Lemke, as the best evidence, pro- Republi- HE se ‘TRIBUNE Well, doesn’t he appear to be? e a raincoat over his golf togs. audy to tee off. Below is the the ledger account, individual -ac- count of the Scandinavian-American bank of Fargo, showing the redepos- its of public funds in that bank by the Bank of North Dakota, nd also the individual ledger account A, Just a moment. You inte me permission to add to”my © setter ments and this morning—~ Q. As soon as 1 get through you you for. have the pri ish to the may add anything you Thursday, 4 February 10th. A The PLAY" THE THEME THE PRODUCTION THE MUSIC A. 1 insist that I ought to| statement—and also, individual ledger matter to the cgmmittee. a accounts of other banks at Fargo, of the same nature Q. If you will limit yourself to for the purpose of the precise things before you. I think. | establishing, if it can be done, the | perhaps, we are willing, but we don’t} policy which you have outlined in, want to cover the whole policy of the | your testi bank on this question, A. As I un-| i redeposit of publi¢ fund {derstand, IT am only covering one ask you at quarterggt twelxe if you, have the accountsswhich were asked of you. Will:you kindly angwer that; question whether you have them now‘ or are ready to produce them? A.. Can’t I add to this testimony that I~ want to add to what came before? + Q..1-don’'t understand you. When we were consitlering this not fou asked if 1 had a contract. Murphy: 1 will take up that later. A. L would like to put it in’ now if U can. Q. -Can’t you answer this question first and I will see that you go into, it? A. This was offered on your’ suggestion that 1 would be permitted to add anything to my testimony that I wished. Q. What number ig the exhibit?’ Q. You desire’ to shake some ex- j planation as to Exhibit No. 9. A. Yes sir. Q. You may do so. if I had any contract and I stated 1), | had correspondence and‘ my attorney j, sidored as a contract and I would like to submit that at this time. Q. It is your desire to have that correspondence read Into the record? A. Yes. Letiers in Reeord. The several letters and. telegrams have got this thordugh were entered as exhibits. Mr. Lemke: Mr. suggest at this time that these letters be copied into the record?- The Jetters and telegrams were, copied “into the record. Mr. Murphy: How far is it from) here over to the bank where these records are kept?” A. Now if the, committée please— Q. Now, couldn't 1 nave an answer. please? Mr. Chairman to Mr. Cathro: swer the question please. A. Ihave been a very willing wit-1 ness, I think. I have used’my utmost endeavors .to try to furnish you the information you desire and, to do so. with the least possible friction or de- lay. I have tried to be and I know I haye been courteous’ alf through these’ proceedings. I wish the com- mittee could realize the import of the question you are asking. The banks throughout the state are built on con- fidence. If you destroy that confi- dence, you are going to destroy the | banks. Now, our efforts at all t through these several ‘months past have been to sustain confidence: in these banks. If you start in on one proposition, you. open up the whole. proposition and:I helieve you; fail to realize the proposition at this time. That_ is about the only thing in. the Bank of North Dakota that onght-to be kept especially confidential. We tried to ¢give all the information we can as it) was asked for from ‘time ime along all other lines where business iy is not in the same way based on con- fidence’ and confidential relations. tt is not’ the matter of the confidential - relation of the. Bank of North Dak with those baz so much G fidential relations of their business. How long would any bank in North Dakota, for instance, that’ re one-half or one-tenth of the atts the Bank of North Dekota ha: Bank of North Dakota has paid out An-} over 000,000 more in the last nine months than, it has received. Q. Now just cne moment. I ay perfectly willing to extend any cour- gest it is unfair tesy to! you, but 1 sug: for a to come fh, here now and cover the entire p y of ‘the bank in explanation of you will not ; produce the exhibits we. lave aki it point and that is the aitack on the} ‘confidence of the bank. ithat_ now. this is a committve of the house ‘representatives inquiring into a pub-!| lic institution and its affai the onlyAhing that I have < eh as indi | the account of the bank in Fargo and: a the other hanks demonstrate the policy ~ have stated this policy of the bank under trol, j i A. I am trying to get to the com-} mittee the fact that the | taking jin one bank banks and that is a very serious thing | to do. press the committee with the import- ter, ,thing in bringing it to their atten A. You askea #0”. anyhow. A. 1 to understand the se situation. ular bank to me individually or to the B North Dakota. | upon the committee, that is the pc Murphy may ! I am trying to make right now "question please? A. Well, I Now you understa think you have cove aq that} ot | Q. ‘And | tion, is ated by the qu to carry out and which morning was your matter of} opens up Now if 1 have failed to im-| ance of my presentation on that mat- I have at least done the proper | Calls Situation Serious. Q. You did the best you want the riousness of *t Now as to any one par that makes no, dif rence | nk of | could mmitler Q. 1 understand that. A. But the whole program is opened wp, and if [ upre Q. I think the committee bas the, point, and we aN calch ‘it. Now 1! j Want to know if you will_answer my I will a oy Aine i | Lemke if I have authority to préduce ‘Continued on page 3) Hl ForYour Blood You ate just as etrong and‘ healthy , as your blood. It is | likewise truc™ that you are as-young as your arteries. Vigor and health come with good blood. With- out geod red blood one has a weak heart and poor nerves. It may show in ner. vousness or in that weak, tired feelings. If your blood is thin and watery, face pale or pimply, if you are generally weak, tired and listless, a vegetable tonic should be taken. One that will do the house- cleaning, an old-tashioned herbal | remedy that_was used by everybody ‘| &0 years ago is’ still safe because. it contains no-a ape Fook, Que 2 root, Cherry Bark, w into*beth liquid blood ionic was . Pierce in 1 out al- | cegp this in tablet f for a large ‘trial package to | i \ | ' i Dr. N: Pierce’s Invalids’ Hotel, Buffalo, | Write for free book on ‘ders, medical consu!ta' er two milion bottles nedicinés sold | © . Ov Pierce's UDITO aE ON SALE AT HARRIS & CO, TUESDAY, —REASONS WHY “! iii BIRD OF PARADISE” HAS LIVEP FOR NINE YEARS A {-scinating love story depicting the sterling virtues and pitiful weak- neds of mankind. by 2 band cf THE VOLCAN® ! flege of presenting the} ; FARE YOU A MASON’ alll 4 Mae I. Bope Hazel Pierce A J. Ol in altendance and entre’acte yoeal numbers will be introduced by SATURDAY, FEB. 5; 1921 Prices 55¢ to $2.20 “Curtain at 8:15 [BRU ARY 8th RETURN OF THE FAVORITE a a Richard Walton Tully (Jas. G. Peede; Gen. Mer.) PRESENTS The Success of Two Continents THE FASCINATING ROMANCE M With FLORENCE ROCKWELL AND A’ BRILLIANT-CAST 2% the ¢ hanting atmesphere of the Hawaiian Islands. masterpieces of scenic artistry. . illusion by the plaintive songs and weird meledies strummed ,allans, &CtNE WILL AMAZE YOU The stage Be Sute to See the Funniest Comedy Ever Written “HOW FATHER JOINED THE LODGE” AUDITORIUM Tuesday, Feb. 8th. - MATINEE AND NIGHT PERFORMANCES Benefit of Lloyd Spetz Post No. 1, of the American Legion a The Names of the Talented Players are: Eleanor Lamb 7. H. Russ W. C. Paulson R. Sherman Wright =. Robert Buzzelle Rey Inseth Edward R. Prachel Bergliot Caspary ~ f Margaret MarDonald sabelle Cochrane Buchanan. will be > ‘good orchestra under: the direction of E. W. he Ww orlds Best Comedy. Clever Specialties Between the Ae Splendid Company of Well Trained “Local Players Popular Prices. Ticket Sale Starts Feb. 5th at. Harris & Company. in for’ evening performance at 8:15 p. m. 3:30 p.m. Prices for "Matinee and 50 cents. | S Prices for evening performance § No reserved seats for the matinee. ', $1.00, 50c plus tax. PUTA UEUU Hist Ui i i} ISMARCK was founded at the meeting point of five great Indian trails. Today it = has railway lines in seven different direc- tions, and it thrives accordingly. It ig the logi- cal distributing center for a rich district of Stez adil increasing purchasing power. \ The First National Bank has served Bismarck i wholesalers and jobbers for 40 y ears. Its facili- ties ‘aud its capital, surplus and undivided prof- its-of over $300,000, make a connection here of peculiar value to the business man. 4 4Y Interest on Savings | Soar BANK pine meK: N.D., The Oldest and ‘Largest Bank inthis section of the State