The Bismarck Tribune Newspaper, March 4, 1921, Page 6

PAGE SIX FRIDAY, MAREB 4, 1921 Candles are. used for lighting. in the mines. of. South Africa. ~ MOTHER! “California Syrup of Figs” Child's Best Laxative The Scandinavian-American Bank lum, the attorney general, the com-| posits, and vast sums:wilt be required'|state bonds: had’ been: pledged, ag, col- | Hazen, Hebron, Linton,. Mandan and of Fargo. missioner of agriculture’and labor, the j.to raise the money ‘to ‘carsy: out-thé)tatera) to the million dollar toan."*~* | Bismarck Chapters. The evidence disclosed that the Home Builders association, or any ex-| provisione of that act because of the! «pach and every: bulletin * * fails} The Associate Grand Matron Mrs. method of Lemke was to use employes perimental station aify sum it deems large number of suspended banks. .. | 15 give expression to the pledging ot| Cor Richmond and the Grand Treas and organizers as dummy stockhold-' wise, regardless of specific appropria- | Businesa Methods Discwsed: ©: |its assets as collateral rae ita ‘d i »|urer. Mrs. Minnie Rusk of Fargo will ers and directors. An ingenious sys- tions made therefore by the legislative! 1; was disclesed:.thet $48,560: of the} g ys the report. Pots lhe present at this meeting. and all ,to interlock and co- assembly. The statute carriog ne lim- | Bank seifes bonds had been sold up.to “tt is of especiai int to ‘al members of the 0. X. S. are invited ities to retain supreme itation whatsoever upon'this vast dele-| December 3; 1920; ‘andi between then inake Hote the fact eidied eae 80 | to attend. A f control and to procure funds. An ex- gation of power. M |and February. 28, 1921, additional.sales| ona a helt? oa it pant ci ane The meeting will convene: at'4 p. m. ample is the league exchange action | ° Ulustrate Method jof $35,550. The ‘report comment3 On| matter ap; ee are tiotin, N€ | Thuraday to be followed by a dinner in acquiring control of the Scandina-| “By way of illustration, there was the “spectacle of having the good name | i rerence ie ‘mad pan ti nthe ar ae at 6 p. m. after which the board of vian American bank. epetarred mee Anduatrial: comms: tof North Dakota held: up to ridicule|ing of the ‘asvesets of the Bank of | instruction will again convene at 7:30. Deposits in Banks Affiliated ra pare ” ne tua NOLIN DakGte Mill |by the alleged offer of a/most notorious North Dakota to its debt of-one million | _A!l members desirous of attending With League a & : | swindler (Charles Pongi). who is wn- | Gonarg, . dinner should: advise Mrs, Margaut Evidence conclusively shows that and Elevator association, on and, up| jer jull sentence for'fraudulent use of |" 'wThis omission to state’ the truth | SPehn, Worthy Matron or Bertha affiliated with the League. As an sum of $226,000, and to the state indus-| yread. broadcast by R, €; Kittel, a for- and lawless manner pursued in. the | ek Baan! aaa cm : TQ HAVE SERIES. banks of Burleigh county were in- civanced by the industrial com- it appears ‘that Spurgeon O'Delt: and: of the vank in their responsibilities to large deposits were loaned to or de- © Dec. 3, 1920, the sum of $650,000; | :no ‘mail, offering his service. in the concerning the: bank’s position is a|F- Dutton, Secretary not later than austen ‘the case of Burleigh coun, trial commission the sum of $7,71 mer Tesident of Casselton, recently an conduct atthe: banklie woiaesse aml Sei e F. A. Lt y sti . ; debted to the Bank of North Dakota male an toon 6 an ovtorney’ J. J, Hastings have, Been‘ active in the |ine public which made the bank pane 5 é SAY TAXPAYERS NOW TO BEAR BURDEN OF WASTE) (Continued from page 1) ings, claiming and purporting to rep- resent the public employes called as witnesses and the industrial commis- sion, and from time to time, William Lemke, attorney general, and H. A. Paddock, secretary of the industrial commission, likewise appeared, pur- porting to represent the same per- sons.” Examination L Discussing the policy of examina- tion, the committee’s report says: _ “A fair interpretation of the spirit of the resolution creating this com- mittee required that an open and fear- less investigation, regardless of mat- ters of a personal and partisan char- acter, be made of the broad and under- go $20,000, of which $15,000 was Further informalities were ined in C ut sti relating to the indus- ppt aps? & vielen : ae ‘| ‘The committee sums up reasons why. Hying questions Felt Boe the conduct. loaned to the Farmers’ State bank of making transfers, and the d.scretion of the investing, -publié’ shies. at North Regan, which state Examiner O. E.'the industrial commission appears, to Lofthus admitted was practically in-\have been ex post facto, That is best solvent. The Bank. of North Dakota illustrated by the report of the indus- | had $335,837.85 redeposited in the triai commission tor the calendar year) banks of Burleigh county of which!of 1920, filed with the secretary, of | $124,558.49 was in the Bismarck Bank | state * * ea a “ot Bismarck, $63,225.23 in the Ca “In this report, the committee says tol Security Bank of Bismarck, un‘|“there. appears. an overdraft on the $17,847.09, in the same Regan bank,' Bank of North Dakota in the sum of or $206,121.29, approximately 75 per | $203,190.20,” charged to the North Da- | Dakota bonds as toHows: “First—Failure to‘ provide and pro- tect. sinking and. ihterest funds ‘to thoge bond issues. ‘ ‘Second—-Granting: abnormal pow- {ers to the Industrial‘ Commission and | Bank ot North Dakpta: to.transfer and divert monies of Bond'sinking and in- terest funds. to. other: purposes.” F thereof, so that it might be accurate- ly determined whether the same were operated upon an economic and busi- ness. basis or for the purpose of fur- thering political and perscnal ends of the administration thereof. With that sole object in view the examiners Nave diligently sought the facts rela- tive to the creation and management to the Home Builders association the posited in banks whose owners were Iso circulars! very material evidence of the careles| Tuesday March eight. st item, it appears, was. the r : ty is showff. On January 19, 1921, inmate of ‘Leavenworth’ penitentiary. | inqitrerence of the registered officers at law, for alleged: legal ser S jandeavor to dispose of these: bonds.” A speaking campaign with’ National Anti-saloon league speakers has been announced by F. L. Watkins, presi- dent of North Dakota ‘Law Enforce ment league, beginning. April 10° and ending June 1. Forty-two meetings have been scheduled. The. theme of. the talks and the results of the operation of ation. No> Reserve will be law enforcement, state and such institutions.” by Bishop, Brissman & Co., of the audit of the state industries is dealt with briefly by the committee report covering the bank of North Dakota, the North Dakota Homebuilders as- sociation, and the North Dakota mill and elevator association, by quoting the following stipulation in the rec- ord: Fran van all agreed, in the presence of the committee, that, the figru thing in the Bishop, Brissman report sions, are substantially correct. This for the*purpose of saving time and difficulty of going to the Bank of, Nerth Dakota and making them pro-; duce papers and records there.” Capital of Bank tion of the Bank of North Dakota is covered in ction of the repor The law providing for the issuance of two million of bonds, and the conversion of the funds so ob- tained to the capitalization bank, is d, it being held that the law “provided” that ‘the bank Capitali: ‘should be open to transact business whenever there shall be delivered to the industrial commission bonds in the sum of two million, issued by the state as by law provided for that purpose.” “It appears from the testimony that the two million worth of bonds were properly issued and delivered to the industrial commission “ * author- izing the industrial commission to act as an agent for the state for the ne- gotiation, sale and delivery of such bonds,” continues the report. “It is especially provided that it shalt’ sell them for cash in such manner and} on such terms as in its sound discre- tion it shall deem advantageous to the state. “It appears from the testimony of the two million of bonds the sum of $48,500 thereof was sold by the offi- cers of the Bank of North Dakota, and that no other portion of said! bonds Have ever been sold up to Dec. 3, 1920. One paragraph devoted to deposits of the bank then discusses’ the man- ner in which the law provided for the compulsory deposit of ‘all funds the institution, and that on Dee. 3, there was more than fifteen miltion of public funds on deposit: in he'bank. Management and Dominating Influence The industrial ernor, attorney general and commis- sioner of agriculture—have sole con- trol of the Bank of North Dakota and authority to appoint all officers and employes. From the testimony, it appears that J. R. Waters, first manager, was se- lected by A. C. Townley and that the Industrial Commission merely con- firmed the selection; that F. W. Cath- ro, director general, was the personal selection of Townley and William Lemke, then not a member of the ‘commission. A fair conclusion is that Townley organization of the bank and its sub- sequent operations. The examination discloses that the resignation of the first manager was due to his refusal to divert funds of the Bank of North Dakota to the Scandinavian-American bank, of Fargo, which in February of of North Dakota for approximatei: $430,000. The control: of the rit going named leaguers is'further dem. onstrated in the record showing indi rect loans to league enterprises su. pervised by them. League Enterprises Controlled by Townley and Lemke The examination clearly shows Lemke and Townley controlled: The National Nonpartisan league. The League exchange. The Consumers United Stores com- pany. The Courier-News Publishing Com- pany of Fargo. The Publishers’ that Bureau. The Nonpartisan Publishing com- | pany. The North Dakota’ Leader. The Northwest Service Bureau. The United States Sisal trust. |” SWEAR OFF TOBACCO Accuracy of the reports presented “mM” E.R. Sinkler, William Lema, | Murphy and John F. Sulli- —every-| except the commentaries and conclu-; of the, commission—gov- | ae and Lemke dominated the original. this year was indebted to the Bank) National Service | cent cf the total, deposited in these! kota Mill and Wievator three banks all directly or indirectly “The explanation of tl affiliated with the League. the following language Also in Cass county, where banks | / Explanation Quoted | affiliated with the league had loans) ‘The explanation of the industrial | and rediscounts ‘as follows: Scandi | comnission is quoted, this explanation | navian American bank of Fargo,/| being to the effect that it was the pol- $175,181.81; Prosper State bank, $6, y of the comm ion: to. permit indus- ; 000; making 100 per cent : in ‘these banks affiliated with the! their accounts and make a distribution | league. jof the expense afterwards, when loans | ‘The redeposits in Cass county to-| would be ordered to be specific indu: talled $435,206.31, of which $229,-|try benefite ‘The sion’s ex- 883.05 was in the ‘Scandinavian Amer-|Planat.on that, ¢ m ¢ | ican bank of Fargo and $68,098.90 in drafts was netessary to disribute the the Peoples’ State bank of Casselton, 'Cost properly, and on, thi feature the | or more than 50 per cent of the total. hous comn ttee comments. that “it is Practically. the same condition can indeed singular that industrial be shown throughout the record, tak- | mmission could not learn of the dis- irectle a F _|tribution of the disbursements of the | fneay ok and erally cron) thie | Mill and Elevator association between A lits three various activities without the Analysis of Load ‘use of the system of overdrafts. An analysis of what the farmers « result of this power there has f the state’must some day face as OS ee Bp 4 9 It of loaning thei dit t been transferred in the Bank of North a reault of loaning thelr Smale be ‘Dakota to public institutions on Feb. political organization is set forth by ;2¢, 1921, as shown by the daily trial ee ere arious league | balance sheet of the Be ie North 5 5 Ff Dakota produced by Mr. Cathro, man- conecene i the political campaigns ager and director general, the sum of Q gue, 1,185,000. Lemke and Townley _ perfected al! “The plain and simple meaning: of scheme whereby they obtained notes | this that the industrial comni{ssion,by trom farmers throughout the state! the excreise of ue power aliesasu, by way of accommodation, and in ex-'has transferred and transformed §1,- change for the individual notes of | 185,000 of money raised by taxation to jtewnles: and ered conparanion, ‘maintain the schools and otter ta says the ccmmittee. In addition jtutions, into houses, mills and ele- | thereto farmers were induced to give | vators.” | their post-dated checks for like pur-| ‘Taxpayers Investment and Liability pity 2 | poses. | Appropriations and bond issues au- | “This accommodation paper was ac- | thorized and guaranteed by state to} cumulated in large amounts, and a jcarry out the Industrial program and great fldod of it was placed in the ; the monies actually invested by way of item*-—is inf , various banks in the state affiliated | public transfers follow: \with the league as collateral to loans | A* industrial commission |made to the league and its subordi-| appropriations of 1919... {nate and kindred corporations. |B-Bank of ‘North Dakota $ 200,000.00 “The most striking and typical | appropriation’ .... 1009000.00 |... | example of this practice is to be found | C-Mill and elevator : in the record of the Scandinavian tax ...... w- —:124,822.87 American bank of Fargo, where, the;D-Hoine Builders’ appro- evidence discloses, many thousands of | __priation ..... . 100,000,00: | dollars of farmers’ a€commodation,|E-Bonds— _ Z ; notes and a large quantity of post- 1-Bank series .. 2,000,000.00 jdated checks were held as collateral to 2-Mill and: elevator as- jexcessive loans to the Consumers | sociation 5,000,000.00 | Stores. company. and. the League Ex-!' 3-Real estate serie’ 10,000,000.00 change. |F-Public transfers to state Contributing Cause industries to February “This practice is doubtless a con- se etic .. 1,185,000.00 26, 1921. $18,739,322.47 The grand total of $18 22.47 | represents funds to which t! good | tributing cause to: the present insol- jvent condition of many affiliated league banks.. Out of this situation will necessarily arise a multiplcity of lawsuits. ‘The farmers afore men- tioned, who have been persuaded to contribute their personal notes upon’) the representation that same were to {be used only to ‘accommodate’ the | ‘league and’ its associated concerns, bets will shortly be called upon to pay. es : “They WORK °: \The law of self preservation and the ° ” H while you sleep” - | faith and credit of the state of North) Dakota.is pledged. This does not in- jude the State Guaranty of Bank. De- original understanding, together with the fact that they received: aboslutely, nothing from the proceeds of such | | notes, will: compel. them to refuse pay- | iment, and to stand suit. The deception thus practiced will then be brought to. the misguided individuals who thus. |pledged their credit, which means all of: their ° property, including: their farms.” | Discussion of the subject’ of the \transfers of public funds forms one of the important features of the: report, {the committee quoting from the law that provides that “The Bank of North. Dakota may transfer funds to. other departments, institutions, utilities, in- dustries, enterprises or business. pro- (jects of the state * * ” | Effect of Provision \ |The committee says “the effect of | this provision of the law is to delegate | - ‘to. the Bank of North Dakota, and the | industrial commission which controls | it, the highest and mast jealously | |guarded powers, to-wit: the appropri- | | ation of moneys raised by taxation. ! | Under this’ provision this controlling | | commifsion may ‘appropriate the | | moneys..in. the Bank of North Dakota | to any department of state that it, in lits discretion, may desjre, by the sim- | ple expedient og the adoption of a rule | or resolution. It may transfer to. the |e or two Cascarets tonight for your | agricultural college, the_insane_asy- | Wer a aoa ee ad iy » feeling fine. No griping, no incon- | venience. Children Rheumatism i too, 10, 25, 50 cents. A Remarkable Home Treut- ment Given by One Who Had ‘It In the Spring of 1893 1 was at- tacked by Muscular and Inflama- Rheumatism. . 1 suffered as only those who have it know, for fg over three years. I tried reme medy, and doctor‘after doc- | r, but such relief as I received | Do you feel~ btlious, WHEN*YOU ASK FOR s BUTTER & NORTAERN | was only temporary. Finally, 1 Y found a remedy that cured me , completely, and it Has never re- J) 2 i “turned. ‘have given it to a num- = : if ber who were terribly. afflicted and even bedridden with rheumatism, some of them 70 to 80 years old, and results were the same as in ASK Your Grocer jthe bank law to require such, is shown of the total! tries under its control to overdraw | 4, "| foregoing date was $1,076,700.72. short, onstipated, ‘head-achy, upset, full of cold? Take! love Cascarets | ' ” Failure of the Bank of North Dakota to maintain a; reserve: and failure. of Eastern Star of Five Cities to Gather Here March 10 by testimony” given by the witness m ‘Thatcher, a league accountant before the examiners,” whieh “discloses. that: the 1915 reserve’ law had. been made of, North Dakota 3, 1920, its jcash would have, heen $1,128,468.25,. whereas. in fact it was only $46,767.63... That is to say the Bank .of North: ‘Daketa ppon.the Bismarck Chapter’ No. 11; Order of|' A. Eastern Star will hold a school of instruction. on Thursday, March 10th ———S ~RSPIRIN of having a cash reserve,” while: the reserve with approved: agents” should. have’ been $1,686,202.51 instead of. $520,806.96 as shown:.by the: audit. re- port, making a total shortage of $2,- 241,606.6 Peek: This. leaves’ out..of account the amount due other. banks which st be deducted, it being manifest ‘that re- deposits in “country hanks. eannot. be considered in computing reserve, and particularly is: this:.true, with respect 6 deposits in closed banks.” 4 ‘The situation clearly. demonstrates the disastrous effect of the failure of the law to require a reserve which has “contributed in: no; smalt measute;. taj) the present deplorable condition of the Bank of No:th Dakota.” The bank should have: been controlled says, the, report, “by a statute assuring not only- the mobility an/ liquidity of its assets but also providing; a fund: sufficient to. take care: of necessary:.withdrawal of. public monies.” ve Untruthful Statements That the Bank of Nerth Dakota has: not made truthful. statements of its condition is. set forth in: another: sec- tjon. of the report. The report says no; intimation was given in any state- ment of the fact that any part, of the Name “Bayer” on Genuine Warning! Unless you see the name “Bayer” on package or on. tablets you are not getting genuine Aspirin pre- scribed by physicians for twenty-one. ,years. and proved. safe. by millions. Take Aspirin only. as.told.in the Bay- er package for Colds, Headache, Neu- ‘ralgia, Rheumatism, Earache, ‘Tooth- ache, .LLumbago and for Pain. Handy ‘tin: boxes: of twelve Bayer Tablets of Aspicin cost few cents. Druggists also: sell! larger packages: Aspirin {s. the. trade mari: of Bayer Manufactures of Monoaceticacidester of Salicylicar: cid: : The day every. good dresser -wants to leok his best. See !my Easter Styles and Pat- |), / terns. A selection to meet every two boars until: three: cect arel¥ every taste and pocket beok.. The very first dose opens up clog: |f Suits $29.50 Up ged: nostrils and. the air passages of i the head; stops nose running; re, Tailor and Cleaner “Pape’s Cold Compound” Breaks, any,,Cold . in Few Hours. e i y a ‘Instant relief! Don’t. stay. stuffed: up! Quit blowing and). anuffl A dose of “Pape’s Cold Comppund” taken} lieves the headache, dullness, fever: ishness. wh + “Pape’s Cold, Compound” acts quick, sure, and costs only a few cents at drug stores. It acts without assist: ance, tastes. nice. contains no quining COAL | COAL © coaL eoggan ge cee 1 YOUR KIA ARS ate, national. the world prohibjtion move- ment and any local problems which ay arise. The speakers will Henry. ‘COAL’ COAL ~ COAL IF YOU BURN — The Famous Wilton Screened Lump Lignite Coal. The -\ Goal That Is All Coak” This Coal does not Clinker and. contains less Sulphur and Ash than. any other Lignite Coal mined in North Dakota. $5.50 Per Ton Delivered. KLEENBURN ’ Northern Wyoming Coal . ACME CARNEY - MONARCH |” $12 per Ton Delivered — be Jolin G. Wooley; George W. Young and Geo- Sportsmen of Panama stage. fighta for District Ne. 13, which includes| betweene bulls and jaguars, 3 1 Accept “California Syrup of Figs .only—look. for the name California on the package, then you are sure your chifd is having the: best and most harmtess: physic: for: the little stom- ache, liver and bowels. Children love its fruity taste, Fuil directions:.on each bottle. You must ‘say “Call- fornia.” We-have. more calls for Bank. Ae sistants than we can supply. If a good . ever appealed ti "ybé/: {box ‘through the Banking room at the ‘Bismarck College, _Cenceded among: the best equipped College banks in the country, Here the student learns to‘ do. by do- ing’ It is-real banking, using college money, and’real bank: accounting,’ up- todate, We make a specialty of training young men and women for the high- ie i er-salaried. bookkeeping and steno . graphic positions. Send for particu- lars. When you know what we. have. done for thousands of others, you. will attend, x : - Write G. M. Langum, Pres. Bits- marck, N. Dak. COLUMBIA PHONOGRAPHS a a COLUMBIA RECORDS ON EASY TERMS IF DESIRED ; COWAN’S. DRUG STORE For All Baking Requirements A which is al- ‘Use Climax Flour ways ‘uniform in quality and | contains: a -high percentage of gluten. : Necessarily a high priced flour on account ; 3 of its high quality. For sale:by-all grocers. ars - Russell-Miller Milling Co. Bismarck, N. D. 4 h COAL COAL COAL ii my. own case. For \ Wang i a I want. evesy suff fi . .. KH N Np Tobie”. tan’ neipod ‘thousents | form of mheumatie, trouble. to ‘try Humpty Dumpty Bread NoSoot' ‘.NoSmoke No Dirt No Clinkers to break the costly, verve-shattering | Don't ‘send’ a cents: ately rail ced'by i ‘ : 2 N Produ aa BARKER BAKERY ee habit. Whenever you. have| a longing for a cigarette, cigar, pipe, | or for a chew, ‘just place a harmless | ibed ttcand le nee prea tse wt Sea No-To-Eac tablet in your mouth in-|{M getting rid of your rheumatism, stead, to help relieve’ that awful de: | pe mey mene Abe one bc Ag one sire. Shortly the habit may be com-|[™ Gellar, but understand, I do not |, want your money unless: you are pletely broken, and you are better off Perfectly satisfied to send « Isn't mentally, physically, financially. It’s that fair? Why suffer any longer so easy, so simple. ‘Get a box of No-|[m When relief in thus offered you To-Bac ‘and if it doesn’t release you |M Moc Te icc ey ae teeta Mark _H, Jackson, No. 478G, Dur- from all craving for tobacco in any |fM ston Bldg., Syracuse, N. Y. form, your druggist will refund your! money without questio, i your name and. address and [ will nd it free to try. After you have Phone 453” te-Coal Co, MINNESOTA BATTERIES Phone 453 (Guasanteed 2 years) ELECTRIC SERVICE & TIRE COMPANY 215 Main Street Mr, Jackson is responsible. Above statement true. COAL COAL =—tnsist upon Pape's! * COAL