The Bismarck Tribune Newspaper, February 19, 1921, Page 3

i , , i £ . % i x ” , fo ye , ’ e ' « , ‘e ‘ 3 , a : ho Ps i ; po De * ‘ rc 7 THE. BISMARCK TRIBUNE PAGE THREE SATURDAY, FEBRUARY 19, 1921 BISMARCK MACHINE SHOP 218 4th Between Broadway Street and Thayer Streets Nave your machine repair work dose now before the spring Rush Sta rts Heavy Duty Welding of All Kinds Aluminum Welding We sell and repair Motor Cycles and Bicycles We carry We can save you money on a full line of Bi Also a Full Line of Bieye| yele Repai: le and Motor Cycle res all work doz at our shop Lock and Gunsmith Repairing First Class Work Dene and Giiaranteed Mail Orders Given Strict Attention SINGING WEEK | __ FOR THE NATION Beginning Sunday, February 20, the annual week of song will be observed all ove the United States. Song week will end Sunday, the 27th. Proclamation Issued. Norman H. Hall, executive ‘secr tary, has issued the following procla- maton for the national week of song: “Because God, in the victory for righteousness, -and for the peace He las given us, has given, us occasion for great joy, and because joy is aii emotion that can best be expressed in song, and because, singing one of the greatest unifying and nationaliza- ing influences, and because the week ot Washington’s birthday has been designated as the National Week of Song, & week when the whole nation will unite as a mighty chorus to sing the songs we love, it is deemed espe- cially appropriate at this time to sug- gest that the week of Febru: 22 to nelusive, be set aside for the sing- of such songs as ‘will express awaken a love for God and country, stimulate a true spirit of devotion and loyalty, unite us in our civic interests, and develop that spir- it of brotherhood which will make us a better people and a greater nation. “Because of the far-reaching in- fluence for good and the great joy to be derived fram the observance of the sNational Week of Song; also be it praise, such as can besi viven in song, is due Him from whom all blessings flow, this procla- ion calls upon all, who believe in| ‘a and American ideals to join ing our joy ‘vance of this significant event. at this ig done in schools and churches, by choral woman’: kindred socicties, welfare clubs, s, men’s clubs, and all nizations.” marck will have community singing in the churches, picture théa- tres, schools, glee clubs, patriotic se- lections in bands and orchestras, and community singing in a civic center. The public schools, St. Mar! hool and the government Indian hool, are entering into the spirit | of song week with a will. | The picture theatres will have com- munity singing of patriotic songs un- der a song leader on, Wednesday night and @riday night. They wil! sing, Star Spangled Banner, America, nd Auld Lang Syne. The publicity mittee will an nownee every d plan through the Tribune and other papers of the city. PUBLICITY F R INDUS- TRY PROBE IS DISCUSSED} (Continued from page 1) the resolution should go to a commit-! it contained propaganda, and/ what the people of the state wanted was fairness in the reports on industr: ing the brief discu ) as that he under-} Commission was! paying the expen: vestigation. The vote to refer to the fairs committee was lost, 55 to 57, and tion then was deferred twenty-four hours, Representativ 1,066 additional containing the r and the motion prevailed. ber of the house was to tra egnies. of the senate in- Maddock moved that ies of the journal ution he printed, Each mem- PUT EMPBASIS UPON WANT “ADS” Des Moines, Iowa, Feb. 19 phasis was laid on the special value of chi advertising to new papers on account of the service renders the public, by L. J. ner, of the Chi fore Bough- ago Daily News, be the Association of Newspapers ified Advertising Managers her aper is sup ed to inform or entertain, and the advertisements are especially inform- ing because they give news of im- portance affecting everybody's purse The ‘ it ads,’ however, go further; in addition to telling the reader where he may buy an article ch or better, it provides him w means of selling to an advantage,” said Mr. Boughner. | On the business side. Mr. Bough- ner spoke‘of,the ease of inc x classified advertising on the smaller dail ind the smallness of the losses from bad debts; and outlined several plans that had been success- fully used by newspapers in various parts of the country Beulah Lignite Coal $5.50 and Bear Creek Coal $12.50 deliver- ed. Wachter Transfer Co. Phone 62 or 63. CHICAGO TO CUT PRINTERS WAGES ~ Chicago, Feb, 1 Notice has been served on union printers by the Chi- cago Association of job printing hov «s that on March 1, the week’s pay will be cut $4.25, it was announced today. The employers contain th living costs here have shrunk that much. HAS FULL FAMILY TREE. Ariton, Ala, Feb, 19-—Harold Jaci: son Knight has 18 grand and gr grandparent 12 great-granduncies. 10 greatur 7 mecles, 17 great- sreataunts, 14 greataunts, 3 aunts, 7) second cousins, but no first cousin Charles M. Schwab our lifetime have the y world been so bare, Nothing can be healthier for future business than the condition through which we are pas: ing. Never in Beulah Lignite Coal Bear Creck Coal $12.50 deliver- ed. Wachter Transfer Co. Phone 62 or 63. 109 3rd Street Phone 898 Shoe Repairing a Rubber Boots Half Soled Rubbers Repaired Hot Water Bottles Repaired Shoe Lace Tips Put on Free of Charge We are Equipped: to Repair Anything in Rubber tate af. ' Fargo Merchants Back Movement: to Teach Optimism D., Fed. 19,—Business rgo heve begun a move- ment by which they hope to dispel the post-war period of depression and revive old-time prosperity It is io be in the form of 4 Home Educational Vargo, men of Demonstration, week, scheduled ft: r 21-26. Its spor hope thal the movement ma aul Lo other cities, they say. “Phe slogah for the week is to he “Know Automobile houses, | newspapers, tractor and implement the local American Li i post, ‘public schools, colleges, the M. G. und the Boy Scouts will t part in the demonstrations, pari concerts and military ball which will he features. Many of the business houses and facte of the city will hold “open houses” during the week to give the public a chance to see how. their produe re manufactured or how! iheiy organizations. function, | EAT TENOR MAY RECOVER’ New York, Feb. 19—Enrico Caru e for life which be ht, apparently has been nis personal physician said te danger of another re- |} but he was satisfied | THER REPORT, For four hours ending = at noon, Feb, 19 Temperature at 7 a. Highest yesterday Lowest yesterday Lowest last night ... -Precipitation Highest wind veloci Forecast. For North Dakota: so cold tonight; cloudiness. WOULD NOY DO WITHOU'T TT. You can stop a common celd if you act promptly at the first — si sneezing and chillines: hoarsen tickling throat or coughing. ke a dose of Foley’s Honey and Tar Compound. It effective and pleas- ant to tak Harry L. Neff, Price Hill, Cincinnati, 0. knows it is good for long-standing coughs and colds, too. He writes: “I had a very bad cough for almost two years. 1 have taken 3 bottles of Foley's Honey and and am almost well. 1 simply would not do without it in the house.” —iadvi. m. —l Fair and not] Sunday increasing Baby Girl. Mr. and (Mrs. Sam Helvig are the parents of a baby girl, born at St. Alexius in Bismarck this wek, President-elect Harding says—-The tendency to supplement our transpor- tation facilities by more extended use of improved highways and motor ve- hicles, is so apparant that it cannot be doubted that we will \more and more rely on this mode of trinsportation. MARKETS | ¢—— BISMARCK GR (Furnished by .Russell-Miller Bismarck, Feb. 19. 1 dark northern 1 1 amber durum. 1 mixed durum ... 1 red durum. 1 flax Se N Minneapolis, F 19.—-Flour changed, Barley, 50¢ to 70¢c. Rye No. 2, $1.45 wn} to $1.46 2 range, lower; stockers | ATHLETES, high school, the Lim LIMM KFROGGS DINE The members of the social club known as Kfroggs entertain the basket bail! team and their coach at the home/of W. L. Smith this evening at 6.304 Decorations are in green and silver, the club colors, made gay wiih jon- quils and candles. ® Following the dinner a social hour will be enjoye TOO LATE TO CLASSIFY cond hand sate. ris Martineson, Chief ‘o: 2-19-Iwik Girl for general house- Apply Bismarck Dairy. 9. K ANY WAY YOU LOOK AT IT you are bound to admit that a good top adds wonderfully to} the appearance of an automo- bile, to say nothing of the add- ed comfort of riding in a car that is equipped for stormy} weather as well as fair. We! specialize in making auto tops. j Get our estimate. | Bismarck Furniture Ce.' ‘ Lo;himgs and thet he signed the note ‘in the present. ‘part of the note. jot this man w: ' prosecuted. , the cash at the bank aad 220 Main Street CLAIM CAMPAIGN MONEY | OBTAINED THRU B. N. D. (Continued trom page 1) said, when the deal was discussed in a meeting in the bank, that he had ‘had a talk with A.C. Townley, that if they would negotiate the notes, which were from substantial people and were good noies,-the Hank of ‘North Da- kota would send funds to the bank to make up the,loss in deposits. He said irady told him he had an agreement! that he wouldn't honor drafts of the Hankeof North Dakota on deposits un- til the notes’ were paid. » ip able Signed a Note, The bank paid the state 4 per cent and. got.-10 per cent interest. on the notes, he said. Johu EE. Stawhe, one of the Nonparti- san’ farmers who signed the notes, said that. Townely came to'see him about July 12. “What did he get you to do?” At- torney Murphy asked. daughter followed. ‘He said: Townley and Grady éame “What, did, Grady give you for your pte?” He said the league had since paid The wiln shown the certificate of ¢epo: to him and asked if he got any money, He’said’no. Paid His Note. “You put your name on the back of the note, gave it to , ‘Townley and never saw itagain ‘Mr, Staube said the league paid $1,- 600 on the note sometime ago, and that. he himself paid the $1,500 re- maining. “You expect to get that back from the league?” : “Yes.” ‘On the certificates was the endorse- ment of C.:S. Townley and Mrs. Town- ley and others identified as with the 4 league. .C. S,. Townley, it was said, is a brother of A. C. Towmey. M. W. Thatcher, was questioned about the examination of the Scandi- navian-American bank in Fargo he made at the. time of the “Langer | raid.” Attorney Murphy compared his | report to that of Examiner Haldorson, | on whose report the bank was closed, | before it was reopened by the supreme court. Supreme Court Report. Mr, ‘Murphy sought to have the wit- ness say that he knew that his report was to be made to get evidence to present to the supreme court. The witness said he kuew it before he got through. ‘The witness refused to say, however, that the primary purpose of the audit) yas to make a favorable impression | on the supreme court,.and the attor-} ney said that his questions were! evaded. One of the differences between the Thatcher and Haldorgon reports was the lines of credit. amounting to $170. 600, which Haldorson said had beer extended to the Consumers United Stores company through a system of having individuals sign accommoda- tion paper. Thatcher, in his report, had controverted Hatdorson’s state- ment by saying the loans were to in- dividuals, and not to the company and therefore the $170,000 credit was not) an excessive loan. [He admitted it was his opinion that the money obtained , on the individuals’ notes went to the Consumers United Stores company. “Now who made a mis-statement to! the supreme court—yow or Haldor- son?” Murphy asked. ‘Thatcher declared he stood on the report—tHat the notes were accom: modation notes. To Reappear Monday. Murphy also asked about credit ex: (ended to other persons, including one Knaack, of lowa. Thatcher said in his report he informed the credit good. Murphy sought to show that Thatcher knew that the jman had died, that his bank was “husted” and that he was about to be He also asked about sim- flar loans which were included in the gupreme urt report. At the time the hearing was con- tinued until Monday, Thatcher was be- ing asked about the $11,000 Sisal Trust loan, which figured in Brinton’s testi- mony. ‘He said O. E. Lofthus handled ¢ could not. was asked tell the details of this, He to reapp Monday. Phateher'’s ‘Testimony. Considerable interest has attaca- cd to the testimony of M. W. 'Phateh- er. head of the Equitable Audit com- pany, before the house investigation conmi orday, in which he w asked cc ning his testimony em the day before at the senate hear- ing with regard to the reserve of Me Bank of North Dakota. The tes mony given by Mr. Thatcher ait the recess, a8 shown in the officiil renseripi, follows, the questions Attorn "phy and the answers Mr, Thatche Q. Now, alr. Thatcher, ys ed to figure from the Brissman report of course as ©! z 3, 1920, and assuming that the 1915 law applied to the state Bank 07 North Dakota, which we have agreed that it docsn’t. what the cash rese*ve | u ce of that bank. should be, have done so. as of that date? a he cash on hand should be $1,128,468.35. Q. That is. when you say it showid be, you mean that if the Bank cf North Dakota had complied with th 1915 law as to cash reserve—that is what you mean isn’t it? A. Yes. Q. just tell us how much cash ‘was on hand? A. $16,767.63. Q. How much were th short then of a | reserve on that date. with these figures? A, $1,076,- 700.72. Q Now. as I understand the law. and I guess we agree on it, thres- fifths of the amount, that is the 20 percent of demand and 10 percent of time deposits—three-fifths of that— sist of halances due from ks? A. Yes sir. certain Q. Have you figured that reser ~-that is. the other part of the : serve? 1 have deducted all of the deposits which are questionable ng that the amount duc and as anks are good is oncile ith a minus in bank from correspondent banks are goot 1 i un it would ve an aiount with the of $82) 18, and cash on hand $46, corre-pondent banks, that is banks 767.63. other than the state banks, redepos-, Q. Well. what does that mean, 1 i don't get that through my noodl 8. of $520,396. QT what they actually T A. With these correspond ha Q. Was there anything else th ‘Signa note,” replied the witness, : You wanted better pictures. We're showing them. ELTINGE BISMARCK THEATRE TONIGHT ONLY Performances 7: 15—9:00 WILLIAM FARNUM “The Scuttlers” A Thrilling, Fighting Romance of the Deep MONDAY “Unseen Forces” One of the most charming pictures that the silver sereen has mirrored in many days. COMING imova in “Billious” i they had? A, They had redeposits | is 20 pe of $7,060,000, its? A, Q. Well put those to one side. Q. What $2,791.6 Outside of the $7,000,000 that i Q. And add to that 10 per qh Q. What should they have? A.! fhe time. A. $16,992.30, $1.685,202.51 Q. The two iteins together amount f your demand depos- is it? A. Q. And how mach were they sitozt | (0 $2,808.670.802 A. Yes sir, of having a reserve in. approved) Q. ‘The available fund then would banks? What is the difference he-| be what? A. The available fund 808,670. tween your. figures? A. I don’t} Should be know. I couldn't answer that ques-,Q: And it is minus how much- A tion, | $782,088.18, Q. Well answer this. You say! Q. Then add your minus to your aj two million and we will find out how what? A. They should have witn/ fr shy they are available funds, A. approved agents $1,685,202.51. | Mr. Murphy, these computations »re Q. What did they have with the!—-! know you want this information correspondent banks? A. — $520,-| 19 80 with it—is without considers- ; . | tion of the redeposits in the state. Q. And aside from the redeposits| Q Well we said that over time that ig all. th did have? A. Ae-,and time again. A. Well I don't cording to this statement? ant newspapers to quote m Q. Well. then you deduct that! ing a statement to something that amount from correspondent hanks | Not @ fact. from the amount they should have! QJ hope the newspapers will not and tell us what the result is, A,/€0 so. A. That computation shows The difference is $1.164.805.95 a minus of $3,590,759.04. Q. Now just add the two short-| Q- Speaking about these redepos- ages together there, the one million} ifs when you made your computation and some odd that should be in ap-; for the senate committee and includ. proved banks. A. The two amounts /ed them you also included the amount shown here as short, based on this Of money redeposited in all the banks procedure and computation, igs $2,-|that were then closed, didn't you? 241,506.68, ‘ Yes sir. Q. And in making that compuaia Q. In other words you said in et tion I assume you took 20 percent vf| fect and substance that if your meth- they should have one million the demand and 10 percent of the! od of computation is correct the Bank time deposits and deducted the'of North Dakota had a reserve’ in amounts due other banks? A. No.; banks that were insoivent and actu- I didn’t. j ally closed. A, That computation Q. Did you make any dednetion| included all the banks regardless ot for the amount due to other banks?! what condition they were in. Aa. No. H | Q. Whether they were busted a: Q. Well don't you think you not? A. Yes sir. I was asked up should. A. No, I am Just putting! there to give the figures the same down what you asked me to put as I am asked here. I can add two down. 8nd two together or I can subtragt Q. Well, I asked you to put down! them. 1 don't know the conditions according to the 1915 law. A. I fig-| of these banks. ured 20 percent of the demand and Q. Well, is that true ‘now, about 10 percent of the time deposits to arrive at the required reserve. Q. Did you then make any deduc- what you were asked up there. Are you trying to give us the impression tion of the amount due to other banks? A. From what? Q. Well, lets read the law: (reads) “Each association shall at all times have on hand in available funds | an amount which, after deducting therefrom the amount due to other banks, shall equal 20 percent of its demand deposits and 10 percent of ifs, time deposits,” A Well, that wouldn't change our 7 ca the heat all. It would only be wit pect to the rr ve, Why wouldn't it?) W the amount that they shoult ‘The cash of course, is two- of that amount. Have you got the amount?) A. My understanding is we take the amount with other banks and deduct from that amount the amount due to other banks, aifd that shows the available funds wit banks. i Q. No, you misunderstand me. You, urrive at a reserve fund by dedact- ing the amount due to other banks 'The law requires that you shoula have on hand in available funds, aad! available funds are described as er cash or amounts in approved r serve agents. A. There is no argu- ment on that. H Q. So the law says this thing we cul available funds—after deducting. from that--that is deducting from ; your cash and from your correspond- ent banks, wh able fund: the ‘amo! shall eq 10 percent of x ute vt t due lo other banks--- 20 percent of demand and time deposits? A. Q. And then three-fifths of that amount shall consist of a reserve in approved agents and two-fifths — in cush? A. s. Let me see that law just a moment. Q. Yes sure (hands witness statutes). Q. Tell us what the Bank of North Dakota on December 2, 1920, accoid- ing to the Bishop, Brissman_ report. ‘had on hand in availablé funds, eliin- inating these redeposits. A. They had on hand in available funds, elim- the inating redeposits, 1164.18, Q. Now deduct from that the amount due to other banks. is the result you get? A. minus $782,088.18. ~ Q. In other words, after deduct- ing the amount due to other banks from the amount of available funds on hand, without taking into consid-' eration the redeposits, you find that they are minus over $700,000.00? A. Yes sir. Q. And it would be véry difficuit of course to figure anything of that kind, wouldn’t it, and call it reserve? A. Well, we can figure out ex: the minus amounts. Q. Well. give us the minus That is what we were try- ing to get at a while ago, but the were a little bit stronger than we thought they were. What is it? A. e@ net minus was $782,088.18, which LETT A. Well, the thing in the aggregate : is the minus item of $782,038 | Q. Well just put it this way. That | ‘ At A splendid Western “Brewers of Beverages _ for Sixty-Four Years” Old Times Dealers Supplied By : Capitol City Bottling Ss Works } Bismarck, North Dakota | | ie Gre" oneratig_on ow, SelUMTMEIINTVAVUIATVUIUAUUAULUUAUUNUAAUAGAAU GAGA ELA The First National Bank Bismarck, Established 1879 The Pioneer Bank Capital and Surplus $300,000.00 Safety First UNINC Last Showing Tonight Buck Jones “Two Moons” Photoplay that whistles with its own speed WEDNESDAY VIOLA DANA in her new feature ‘ “The Off Shore Pirate” that you were not the gentleman who framed this all up. You don’t say that my friend Sinkler did anything like that? A. This was extempor- aneous. I was handed this report and asked to give these figures. You are not an extemporaneous A. I am not. Q. And when they asked you to do something extemporaneously you don’t want to be responsible tor what you say or do? A, I want to be responsible for anything I say oc do but if I have a qualification to make I want to make it. 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