The Bismarck Tribune Newspaper, September 22, 1924, Page 2

PAGE TWO DEPOSITORS IN _| First Lady Proves Tactful And Able RANKS TO SHERE| Helpmeet for President; Her Charm Has Won Admiration of All Nation (Continued from page one.) | state. The Tolley State Bank had) ‘losed before this time, but was lat- | r reopened and closed again. Wirtz declared depositors of the Security Bank, since it was the first closed, hould be paid in full first. John | Watson, depositor in the Tolley Bank, intervened and held that if it vere decided depositors should be yaid in order of the banks’ closing, his bank should be first. Attorneys tor nd Commission veld depo all closed banks | should. be treated alike, and if the fund was not sufficient to pay all, t should be pro rated, At the time the suit was started, the allegations said, the Guaranty Fund was about} 340,000 and the total liabilitic lopositors $8,000,000. Purpose of Legislature | “The legislature of 19 when hapter 200 of the laws of that ses- ion was enacted s the majority pinion, “had before it a serious con- ition, caused by the closing of urge number of bunks, the first of shich went down in 1920, with large laims, actyal and potential, against ty Fund. The situation,} ry to that which was before; legislature in 1917, clearly dis losed that it would be possible to; ray immediately or within a reason- ible time, from ussessments levied \ainst functioning banks, only aj vely small number of the ysitors in the banks then closed, | vithout imposing burdens on open} s that would lead to general in- | cy and collapse of the stat nking system. Whether the power) ted to impose such a burden, we} cide, to | | ! | | Py BOTH COOLIDGES ARE SAA LOVER: xavsTone VIEW, ae 0 evident from the ex-| Charm, tact and efficiency; these} ont of the liabilities of closed|gre the characteristics which have| yanks to depositors und consequent gnade such a complete success of notential and probable liability“ of Mrs, Calvin Coolidge’s tenure as ty Fund to such deposi-|Jrirst Lady of the Land. | ‘ if the depositors were paid), Even before her distinguished in full by lev; assessments to the! usbund had risen to his present! © maximum legally permissable, as| high office, Mrs. Coolidge was one| well as practicably possible, under!of the most popular of Washing-| the law, in the order in which banks | ton's matrons, snd since, her ee closed, the result would be that de-|cupation of the te House e positors in banks which closed last,|Capital's enthusiasm for her hes!during their vacations, no eae or even a few months after those | grown steadily. was placed by their padeeie which first suspended, could not be| One biographer of the President, they were capable | ey BS paid any portion of their claims for|R. M. Washburn, a former col-/flecting the splen: ining , Jon# period. Consequently, and/league in the Massachusetts Leg-|had been ey eesisnicees doubtless in the interest of jus tee, | Aslature, has written of the ust eee 5 he eld i Bettini ter es eet renee “Bhe is an admgrable complement | Anna theo Leeetaad in ney tnder the law of 1917, as made in|to the President. When he seeks to Clark 8c comtne posse caer section 16 thereof, was fundamental. {fuse with the people, she is <his/ Northampton. hel i. tae . Tt is ‘provided in vital link. She is @ successful daughter of the lat ndrew de He Sec|iender. She is of attractive ap-|Goodhue, of Burlington, Vermont, tion’ 21, ‘chapter 200, S. L. 2 ‘pearance. She has a bright mind./who died in April cf 1928, leaving f the Guaranty Fund be insufficient | Bye tactfully declines to commit|a widow, Elmira Goodhue, mother to pay the claims of depositors duly |e rgeif on public questions that|of the President's wife. Mr. Good- allowed, the Commission may Prol sie may not embarrass her hus-/hue was a deacon in the College rate payments upon certificates of | pana." | ‘Congregational. Chureh and indebtedness from the fund on hund.|"°Ty onarm and tact of ers|| Sea er cet eat That is, the legislature decided that © reed not The FinST Lacy’ -KNITTING— puere -UN DERMOID -UNOBRWOOD 3 |FIVE THOUSAND never were more convine-|Lake Champlain, instead of exhausting the Fund in Coolege i saying depositors in banks that first | ingly evidenced than they were by the manner in which she reared Grace Anna Goodhue was gradu. ated from the Burlington High closed and leaving others to wait for her sons, ‘They attended the public|School in 1897 and from the Uni- an indefinite period, it would be!genools of Northampton, Mass.,|versity of Vermont in 1902. Her sabre: just und equitable to provide i gna were in every other regard|marriage to Calvin Coolidge, then that as many claimants as possible’ gust plain American boys, When|a young lawyer, took place oa j ould receive a dividend upon their! they grew up and wished to work |October 4, 1906. CITY TODAY guestion as to whether Wirtz and] ™#rks largely other depositors similarly situated,{ whether W hag Required a “vested right” in the/right in the Speak at Dickinson Tonight i to the question as to acquirtd a sted Guaranty Fund under, 1917 law and prior to the 1923 a Guaranty Fund on hand, which en-! the title him to payment in full a: rane depositor of one of the first banks| “\” tee? wer nee closed, while depositors of banks} “In my opinion,” he said, “the} state is chargeable as a trustee of| a closed later would get nothing. The! s law of i917 contemplated payment! the old Guaranty Fund to whatever on the priority basis; the law of|¢Xtent plaintiff may 1988 changed it to the pro rata basis,|"izht under the The court's opinion reads: complaint, In th Plaintiff's Right not concerned, so far as “If the plaintiff acquired a vested | ae fies right in that portion of the anty ond dul ey roe i Fund whieh had been collected at the|*wability, of the rity und | this morning for Dickinsorf, where Farol tha lbant (closed mi because | Commission under the new law, The} he speaks at 8 o'clock tonight. He MaResccaiaepositor therein: ther ani( point is that dep in closed and! Probably will speak in Glen Ullin| depositors in banks that closed be-| insolvent banks, whose right under) #0d Mandan tomorrow, | 4 ae ; cect} the old Guaranty Inw hi ctued| Mr. Halvorson was immensely fore’the law of 1923 went into effect | the leiengrazea 3 Aine a2 GATE acquired a similar vested right to| before the enactment of a new Guar-| ncouraged over start of anti PaStReRt sa full {rors that’ part of | anty law, posses the right to charge | Nonpartisan league state campaign b | and reception given him in his, Will his | eding I am} plaintiff’ neerned, with the power or even concerning the | is. Halvor L. Halvorson, coalition candidate for governor, left here| the Fund which had been eccumn-| the state as a trustee of the fund jated through assessments made prior to July 1, 1923, in the order in| which the banks closed. If that were} the correct construction of the sta-| tute, it would operate to deprive the} overwhelming majority of the deposi-| tors in closed banks of any payment| whatever on their claims from the! existing, altogether inadequate Guar- anty Fund. Payment as to them| would necessarily be postponed to! such remote period as would be re- quired to replenish the fund. The! result would be that a plan obvious-| ly devised to protect all depositors] equally would, through judicial con- struction, be made to give full pro- teetion to some and practically no| protection to others. The difficul- ties, complications and injustice that would arise from such a construction of the law would render its adminis- tration cumbersome and _ costly, would to a great extent defeat the legistative purpose common to the act of 1917 and to that of 1923. These considerations doubtless influenced the legislature to enact chapter 200, S. &. 1923. Whether approval of a claint as ‘guaranteed by the State Ex- aminer would have created a vested) right’ whieh the legislature could not have disturbed by subsequent legis- lation, is not decided.” Many Closings The court, continuing the discus- sion of the abnormal situation as af- fecting the Guaranty Fund which rose from the large number of bank closings, held: “We are, therefore, of the opinion that the depositors in closed banks, who had taken no steps to have their claims determined, liquidated, and aHowed in the manner provided by the aet of 1917, or concerning which fgetshad not:been certified to the! Commissigin, es provided in that law,! priors te: 1, 1923, had no sueh{ voated wight or interest in the con- tnnance af the plan of payment from! the: Guaranty Fund provided in that! net;as-to. render’ it. incompetent for the: legisinture -to change this plan inal! 0 as to provide for the pay- ing dividends ‘upon’ s large num-! per of claims, according to the sound Uiserstton of: the Commission, rather established and constituted so for their benefit; and to maintain an ac-} tion against officers of the state charged ith its administration to enforce their rights, “I deny that the state, or any of its officers, with respect to plain- tiff’s accrued right, may take this trust fund from John Jones or Henry Smith and hold it for some different Jones or Smith who miay, some time in years to come, perhaps, be a de- positor in another insolvent bank; or likewise, that this trust fund, un- der the old Guaranty Fund law, so far as it must be devoted to the right of Smith or Jones, can bé taken by a state officer ‘and used for the purpose of rehabilitating or financ- ing various*or any going banks in the state.” SORLIE AT DUNN CENTER Candidate to Make Tour of Western N. D. A. G. Sorlie, league candidate for governor, was principal spea! er at rally and picnic held near er at a rally and picnic held near camg to Dunn Center from Chi- ago, devoted his remarks chiefly to North Dakota mill and elevator. date for attorney-zeneral, and S$. McDonald, mem te among, Dunn Center for a trip through’ McKenzie and Wil- liams couniies, after which he will go to Grand Forks and then visit paints in the Red River Valley. STATE BANK State Examiner Cilbert Seming- gon today issued a call for a state- than to pay the depositors in one or} two banks in full, while leaving all: other’ to walt indefinitely.” | a Soar Wie a opanped ects Seed dustice jrenson,-in his: is: B id net consider in detail jon tendered by: the: ma; eourt, confining his re- ° 2 bale of the ment ‘of condit'on of state banks as of Septenzber 1 Have your windows and doors, fitted with National r Weather Strips. Phone i Richard 0, Sloan. : > CALL ISSUED} | speeches thus far. “The attendance j has been far more than was ex- | pected in the early stages of the | campaigny’| the fusion candidate said. He expects to carry hig active campaign ‘into all parts of the state. SHAFER URGES N. D. BANK LAWS BE TIGHTENED (Continued from page one.) tilioner is not qualified to handle such cases. Protection of the state against activities of the I, W. W. is urged by Mr. Shafer. “The state should enact suitable laws to protect itself against the various forms of criminal anarchy, ineluding criminal syndicalism,” Mr. Shafer says. “North Dakota, being 4 grain producing state, is annually subjected to the menace of an I. W. W. invasion. Members of this out- law organization flock into this state at a criti me of the year, when much harvest labor is required, not for the purpose of availing them- selves of legitimate employment op- portunities, but for the purpose of harassing both farmers, and farm laborers, and to disorganize and overthrow the present wage system. They prey alike upon farmers and workers, intimidating both, creating and interest THE BISMARCK TRIBUNE least where the conspiracy results in a crime that is a felony.” That the tes’ attorneys be given general power to subpoena and ex- amine witnesses in connection with investigations into the commission of crimes. That the statute of limitations be amended to provide clearly that the time when a defendant is out of the state shall not be a part of the limi- tation, whether he was within the j State when the offense was committ- ed. That a handicap to the state in Iselecting juries be removed. The ‘number of peremptory challenges al- lowed to the state und defense in all classes of criminal cases should be equal in number. It is pointed out that in criminal cases, in ex- amination of the jury, the defendant |now has twice as many peremptory | challenges. That the grand jury laws lamended to provide, among other (things, that indictments should not ‘be set aside by the court upon any lin the statute. Provide for adding | {the names of witnesses to grand jury lindigtments, so that an indictment { would not be set aside merely be-! cause the name of a witness was | j omitted, | That the Workmen's Compensation {Bureau be authorized to provide its jown counsel and pay for it out of | premiums received. | Must Revise Laws i | In making his recommendations for changes in criminal statutes, the Attorney-General said: “It is common knowledge that the stem of criminal procedure in the United States is inadequate to pr tect society against law violators. There are So many legal safeguards thrown around a person charged with crime, and the rules of evidence und procedure are so technical and so framed, that in many cases, per- sons guilty of crime often escape conviction and punishment. These defects in the criminal laws have long been known to both lawyers and laymen alike, but Legislatures have been slow to change or improve the procedure. Authorities generally agree, that, since the World War, there has been what is termed as a wave of crime prevalent in the United States, the tide of which has not yet receded. The problem of the system of criminal procedure has re- cently been made the subject of careful consideration not only * by the Jeading lawyers and judges of the ‘country, but by the American Bar* Association, which has adopted & report advocating many changes intended to strengthen the arm of the law in the field of enforcement.” | IS ADDED TO CITY BUDGET Dickinson, Sept. 22—Five thousand dollars were added to the item cov- ering permanent improvements in the city budget for 1924-25 in the final reading of the budget ordi- nance by the city commission at its regular meeting Monday afternoon. This addition makes the budget total $45,000 for the coming year instead of $40,000 as previously reported. The commission deemed the in- crease necessary because of needed improvements to the side walks, and. other city property. All other items on the budget were left the sume as outlined at the first reading. DUNN COUNTY PIONEER DIES Sept. 22.—After suf- fering a year with cancer Jacob Stroh, residing 15 miles northwest of Dickinson, quietly passed a in sleep at his farm home last Fr day. Funeral services, held at the St. Anthony church, about seven miles north of New Hradec, on Sun- day afternoon, were attended by friends agd neighbors from the hole countryside as the deceased was a pioneer resident of that locality. ir. Stroh was born in Russia, April 8, 1858. He was married there on Septembey 14, 1885,-and the fam- ily resided there for several years afterward. About 35 years ago, he and his wife and four children de- cided to leave their native land and try their fortune in America. They came to their present home location in Dunn county and have resided there continuously ever since. Besides the widow, the deceased leaves to mourn ten children, all of whom reside up in the north country. Ambrose, Philip, Catherine and Rose are still at home, and the others who have homes of their own are as follows: Ralph, Jack, Joe, Mrs. Mike Heiser and Mrs. Pete Jaeger, in the Manning vicinity; and Peter resid- ing west of Emerson. Five other children have died, the last one be- ing Max, eldest son, who was a vic- tim in the recent flu epidemic. Dickinson, The Lanpher hat designers know the secret of making hats that conferm to advanced ‘ideas disorder and disturbance where their uence is felt. To. protect the state, its farmers and honest labor- ers from this ome the existing vagrancy laws should be strengthen ed by the legislature and vigorously enforced by the law officers of the state, and a (Criminal Syndicalism Act should he passed.” Other Recommendations The Attorney-General also recom- mends: f That the crime, of conspiracy in North Dakota, now only a misde- meanor, he broadened to.make the crime of conspiracy a felony, For Sale— Choice Canarie Singers, Imported German Rollers. Jacob Bull, Dickin son,-N.-Dak, -Box-728.: “at | of modern men without being freak- ish—the price ex- presses the modern idea of economy, jtoo. | i LANPHER HATS be | ground other than those enumerated | ' OBREGON’S DAUGHTER | | | i { | | { { i i | {| | This young lady a daughter of President Obregon of Mexico. Her name is Refugio. She’s 16. Her mother was the general's first wife CHILDREN CRY FOR “CASTORIA” Especially Prepared for Infants and Children of All Ages Mother! Fletcher's Castoria has where recommend it. The kind you been in use for over 80 year: ajhave always bought bears signatere pleasant, harmless substitute foi | of Castor Oil, Paregoric, Teething Drops and Soothing Syrups. Contains no narcotics. Proven directions are on each package. Physicians every- Report of the Condition of THE FIRST GUARANTY BANK at Bismarck in the State of North Dakota, at the close of business Sept. 17, 1924. RESOURCES Loans and discounts........ BUCS Overdrafts, secured and unsecured. Warrants, stocks, tax certificates, Government issues ... Furniture and fixtures. Other real estate...... bn Current expenses, taxes paid, profits ... aye Checks and other cash items... . Cash and Due from other banks. $298,742.55 434.69 824.79 10,180.00 16,170.00 8,000.00 over undivided 5 845.20 74,644.56 2,308.25 489.76 LIABILITIES + $412,150.04 . .$ 50,000.00 | 5,000.00 | Capital stock paid in.. Surplus fund ....... Individual deposits subjec Guaranty fund deposit......... Liberty Bond Savings Deposits. . Time certificates of deposit...... Savings deposits .... 3 Certified checks ...... Be Cashier’s checks outstanding....... Due to other banks........... t to check. .$110,128.15 2,565.39 10,180.00 171,513.72 38,616.19 145.00 3,316.22 20,685.37 357,150.04 Notes and bills rediscounted. . Bills payable .................6. Liabilities other than those above stated. Total ieee Oey i : $412,150.04 State of North Dakota, County of Burleigh.—ss. I, J. P. Wagner, Cashier of the above named bank, do solemnly swear that the above statement is true, to the best of my knowledge and belief. J. P. WAGNER, Cashier. Subscribed and sworn to before me this 22nd day of Sept., 1924. None None None Archie O. Johnson, Notary Public, Burleigh County, My Commission expires Sept. 20, 1930. Correct. Attest:— F, A. Lahr, E. V. Lahr, J. P. Wagner, Directors. UNLV UA HAVE YOUR: Auction ALE BILLS Printed in The Tribune Job Printing Depart- ment. We can give you superior service in laying out your copy. Our prices are right and our service is prompt. BISMARCK TRIBUNE JOB P: G DEPARTMENT RREVELAAEELESR ARH AUDEERRRAS OUT FIVE: DOLLARS +Liabilities other tha | State of North Dakota, County of Burleigh. ja fractured MONDAY, SEPTEMBER 22, 1924». J. No, 1162 Report of the Condition of THE CAPITAL SECURITY BANK ;at Bismarck in the State of North Dakota, at the close of business September 17th, 1924. RESOURCES Loans and discounts............. Overdrafts, secured and unsecured Warrants, stocks, tax certificates, claims, etc.. Banking house, furniture and fixtures. Other real estate . 5 an Checks and other cash items..... Due from other banks and cash. . $174,928.78 140.97 8,339.73 6,950.00 10,956.91 " 46,858.80 LIABILITIE $248,175.19 Capital stock paid in. Surplus fund 2 f Ghose Undivided profits, less expensés and Individual deposits subject to check. Guaranty fund deposit. . Time certificates of depos Savings deposits Aas Cashier’s checks outstandin Due to other banks....... ...$ 50,000.00 1,600.00 taxes paid. . 278.34 -$ 62,599.37 1,979.34 85,337.41 2,455. 36,783.93, oe 196,896.85, Notes and bills rediscounted. .. Bills payable ..... None None None above stated........ Total... $248,175.19 3. I, S. G. Severtson, Cashier of the abave named bank, do solemnly swear that the above statemeni is true, to the best of my knowledge and belief. S. G. SEVERTSON, Cashier. Subscribed and sworn to before me this Twenty-second day of September, 1924. A. J. ARNOT, Notary Public, Burleigh County, N. D. My Commission expires August 4, 1927. Correct. Attest :— Krist Kjelstrup, C. W. McGray, J. A. Hyland, Directors. (Seal) interested between monthly payments. If call at 911 North 6th St 9:00 A. M. and 5:30 P.M. 6 022 TRAIN VICTIM HAS CHANCE TO RECOVER, ickinson, North Dakota, Sept. 22. ink Decker, 17, who sustained skull and other severe injuries when Northern ‘acific passenger train No. 1 crashed into the Decker car on the crossing by the Dickinson Wholesale grocery last Wednesday night, now has an even chance for recovery, attending physicians have announced; For several days the lad lay unconscious, fighting what seemed an almost un- equal battle for life. Since, he has been gradually gaining. Dan De er, his father, and Ralph Decker, 2 cousin, who were also badly in- jured in the crash, are getting along y and will be able to leave the hospital within a short time. FOR RENT housekeepin odern furnished light FOR SALE-Late 1921 Ford coupe in real good condition. Inquire Van Horn Hotel, Room 11. T by October 1st: three room and bath furni apartment upstai Private en- trance, and large storeroom., Phan 275-W. Cook by Electricity. Cleaner, Safer and Cheaper. Automobile Top Coverings —for— Chevrolet’ Touring. .$11.00 Overland Touring.. .$11.00 Dodge Touring— Model 1921.. -$11.00 Model 1922 and 1924 ...........$18.50 Ford Touring......$ 7.00 Too Late To Classify WANTED—Girl for gen: work ina all fam 790W2. Call 506-2nd SI ‘al -house- Phone 9-22-3t FOR SALE—Seven room modern | home with bath and sewing room.| Hot water heat and large basement | for $5400 cash or $1500 with Bismarck Furniture Company 219 Main Street Bismarck, N. D. TYPEWRITERS OF ALL MAKES Rented - Repaired Sold on Hasy Payments. Bismarck Typewriter Co. 207 Broad ‘WEBB BROTHERS Undertakers _ Embalmers Funeral Directors Licensed Embalmer in Charge. Day Phone 246 Night Phones 246-887 { i UNDERTAKING Licensed Embalmer in Charge. f ‘Day Phone 100 Night Phones 100 or 484R. W. E. PERRY * Funeral Director — | Has opened new funeral parlors at 210-5th St. o longer connected | with the Perry Furni- ture Parlor. 4 : Phone W. E. PERR WINSTON HARPER FISHER CO. sganeapaly inn Y 687