The Bismarck Tribune Newspaper, January 12, 1925, Page 1

! WEATHER FORECAST ¢ Unsettled tonight and Tuesday, with probably snow. Not so cold. ESTABLISHED 1873 BISMARCK, NORTH DAKOT. THE BISMARCK TRIBUNE, ‘A, MONDAY, JANUARY 12 » 1925 FINAL EDITION PRICE FIV v] CENTS BANK OF N. D. DEFICIT TAX IS URGED PROMOTIONS 70 ‘BE POLICY FOR * FILLING POSTS Coolidge, Having Selected Ambassador to Succeed Hughes, Plans Other Changes KELLOGG TAK PLACE Will Succeed Charles Evans Hughes as Secretary of State March 4 Washington, Jan. 12—Having ac- | cepted the resignation of Secretary of State Hughes and selected Am- bassador Kellogg at London as his successor, President Coolidge will give attention now to the task of filling the vacancies in the diplo- matic corps resulting from these chang in his cabinet on March 4, Meanwhile, the Senate will give consideration to two appointments by the chief executive of equal im- portance, those of Harlan F. Stone of @New York, to be an associate Justicolat then Suuremeuiconreian of Charles B. Warren of Michigan to succeed him as attorney general. Favorable action, on both is expected. In line with the promotion of Am- bassador Kellogg, the President is unperstoed to have in mind the ad- ahcement of Ambassador Houghton at Berlin to the Court of St. James. With such a policy carried to a logical conclusion, there would be a With Judge L. J. as the principal speal gram of feature number dinner of the Associ merce at 6:30 tonight at the Club promises to be a most enjoy able affair. Among the reservations are many for the wives and friends of the members. Palanel of Minot Judge L. J. Palda’s ability as a speaker as well is record of activity in all ¢ matters is well known in this section. For more than twenty years he has been act- ively identified with movements for the upbuilding of North particularly in Ward county. to his message regarding the of civic-commercial organizations, Judge Palda is expected to relate the story of European conditions as he found them on his recent trip. Added work their first reports at noon at the Mc- Kenzie Hotel. Police Continue Investigation of Explosion, Said to be the Work of an Expert—Chiei of Police and Others Miss Death general advancement of those in the diplomatic service, Several Are Mentioned Although Ambassador Herrick at Paris might be considered next in line for the London post, the un- derstanding here is that he prefers th to remain at the French capital, where he has had many years of service. Morcover, his desire for early retirement from the diploma-| tic corps has heen reported. Besides Ambassador Houghton, others whose names are mentioned in connection with the Ambassador. ship to Great Britain are Amba: ador Fletcher at Rome, under-secre tary of State Grew, Solicitor Gen- eral James M. Beck, and Senator Medill McCormick of Hlinois, who retires from the Senate on March 4. Before that date, other changes in the cabinet are in prospect. Secre- tary of Agriculture Gore must re- tire on or before March 4 to be- come governor of West Virginia, to which office ne was elected last November, and Secretary of Labor Dayis has asked to be retired at that tin’e, although he may accept to the executive's request that he remain. Hughes Quit Hughes has placed his resig- nation in the hands of President Coolidge with a reaffirmation of loyalty to his chief, but with an in- sistent request that after nearly twenty years of public service he be permitted to return to private life. The president, accepting the de- cision, expressed regret, warmly praised the retiring secretary's rec- ord of accomplishment since he took charge of the country’s foreign af- fairs four years ago, and bespoke for him a “well-merited repose” after the cares of public responsi- bility. Others whose names are mentioned in connection with the London Post besides Ambassador Houghton are Ambassador Fletcher at Rome, under Secretary of State Grew, Solicitor General James M. Beck and Senator Medill McCormick of Illinois who re- tires from the Senate in March.. The appointment of Attorney Gen- eral Stone to be associate justice of the Supreme Court is expected to receive favorable action this week to clear the way for consideration for the nomination of Chas. D. Warren of Michigan to succeed him as At- torney General. ACCEPTS POST Paris, Jan, 12.—Frank B. Kellogg, the American ambassador to the Court of St. James, will accept the post of secretary of state tendered him by President Coolidge on the resignation of Charles Evans Hughes. “I read the news in the morning papers announcing that the Pres- ident had decided to appoint me sec- retary of state, which I have accept- ed and appreciate very greatly as a great honor,” said Ambassador Kel- logg who is here attending the in- ternational financial conference. “I am not unmindful of the dif- ficulties and the responsibilities of this great office,” Mr. Kellogg con- tinued, “following especially such a distinguished and eminent lawyer and statesman as Mr. Hughes. There is notlfing more that I can say at this time. PROCTOR, MINN. ANKER HELD UNDER BONDS Minneapolis, Jan. 12.—Sidney D. Burdoin, of Procter, Minnesota, banker, was artested at Milwaukee when he tried to cash bonds later identified as patt of the loot in @ $10,000. burglary, was held to. the grand jury under $2,000 in County District Court today ona charge of forgery. He has furnished bail, Mr. San Fri n of a bomb wrecked the 1 entrance of the Hall of Justice here yester- day. The force of the explosion demolished a telephone booth in which the bomb had be creted and tore a hole wall of, pol headquarte Search was being made for a man who was seen in the booth short- ly before the explosion, | Pieces of a gas pipe; part a small bottle labeled “esser of Jamaica ginger, ich hore the, mark of a local drug firm, 30 cartridges” of a 32 calibre re- volver and a large amount of | iron weré found. Police declared that the machine had been made by an expert. The explosion occurred yester- day morning when the chief of police, captain of det police captains were arriving for their regular day conference. The men, how- ever, were late yesterday. ‘The homb was placed a few feet from | the office where they hold these | «conferences. County’s Right To Sue State Fund Upheld Bowman county’s right to sue Wm. A. McIntyre, former county treasur- er, and the State Bonding Fund, for $9,487.66. on account of deposits lost in the Farmers and Mechanics ‘State Bnak of Bowman, now closed, alleged to have been deposited in excess of the bond furnished by the bank, was upheld by the supreme decision handed down today. case was appealed on demurrer by the bonding fund. “The deposit by a county treasurer of county funds in a depository bank in excess of the amount of depository bonds of such bank, contrary to the Provisions of chapter 56, S. L. 1921,| constitutes a breach of duty on the} part of the treasurer and a breach of condition of his official bond is- sued by the State, Bonding Fund,” the supreme court said in the decision. The claim on the bonding fund was made August 7, 1923. | | | i —-—____—___-» | Weather Report | o>————_- ey For 24 hours ending at noon: Temperature at 7 a. m. Highest yesterday Lowest yesterday . Lowest last night Precipitation Highest wind velocity | WEATHER FORECAST For Bismarck and vicinity: Un settled tonight and Tuesday, with probably snow, Not so cold. For North Dakota: Unsettled to- night. and Tuesday, with probably snow. Not so cold west and south portions. WEATHER CONDITIONS The high pressure area, with its attendant cold weather, extends from Manitoba southward to Texas. Tem- peratures were below zero in the Dakotas, northern Montana and .in JUDGE PALDA TO ADDRESS BISMARCK A. OF C. MEMBERS AT BANQUET Dakota | The teams that are organized to out the stock-taking and re- cruiting this week will be seated | together at the dinner tonight. To- morrow morning at 9:30 at the As- sociation they will assemble for the start of the campaign and will make | BOMB WRECKS MAIN SAN FRANCISCO HALL OF JUSTICE | Industry j which | New A. C. Head E. L. CONKLIN Provident Life Insurance Commerce, ENTRANCE T0 NORTH DAKOTA North Dakota has entered the jon belt. vernor A. G. Sorlie has been ormed of the fact. G. A ‘ county treasurer of Mec Intosh county, has sent to the Governor a full grown, well de- veloped lemon, as good buy anywhere, which he ra “Tam sending you herewith a lerfon which was raised by me in Ashley, North Dakota, from a plant which was sent to me by the United States Department of Agriculture, Bureau of Plant three years ago,” wrote Bictz. “The plant was six high when received.” Mr. inches (CHICAGO LOOP FIRE LOSS IS HELD MILLION Worst Loop Fire in Three Years Routs (Guests in Fashionable Hotel Chicago, Jan, 12—Fire yesterday destroyed the interior building in the loop dis‘ cago with an estimated loss of $1,- 000,000, overcome in combatting the lasted five hours, Guests of the Congress Hotel, near by, were routed from their, rooms by the smoke. Forty-five engine companies, five hook and ladder companies and a wa- of the Hoops A score of firemen were blaze, |}, ter patrol were required to extin- guish the flame The fire was one of Chicage’s worst in the last three years, Fire Marshal Buckley said. Coolidge and Dawes Formally Elected Today Washington, dan. Jan. 12.—Calvin Coolidge and Charles G. Dawes were elected President and Vice-President respectively today. The electors for whom the American voters directly cast their ballots last November, met in their respective states, can- vassed the popular vote and in ‘ac- cordance with the Constitution cer- tified the election of a President and Vice-President. This result will be certified to the president of the Senate by each of the 48 meet- ings and will be opened at a joint session of the Senate and House February 18. The electors in each stute also selected one of their number to bring the vote to Wash- ington. DeMille Quits Lasky Movies , New York, Jan. 12.—Termination of business relations between Cecil B. De! le, director, and the Famous Players-Lasky corporation, was an- nounced after sailing reservations for Europe on the liner George Washington for {the director, this wife, and a half dozen of his staff were cancelled summarily. BARBER USES MOWER the Canadian Provinces. Lower pres- sure has appeared over the northern Rocky Mountain region, accompanied by slowly rising temperature. Pre- cipitation occurred from the north- ern Rocky Mountain region to the north Pacific coast and at scattered places in the Plains States and it is snowing at almost all stations in the middle and upper Mississippi Valley this morning. G ORRIS W. ‘ROBER'S, Meteorologist Manchester, Eng., Jan.—The strang- est razor in the history of the ton- sorial art is in the possession of John. Rogers, a Manchester barber. It isa combination of blabes, made up into the form of a miniature lawn-mower, which Rogers uses on the faces of his more heavily whis- kered customer He charges an extra fee for use of the “mower.” ‘Granite monuments of the Egyp- tians were cut with copper chisels, Official will guide destinies of Association of IN LEMON BELT ct of Chi-| GOVERNOR OF KANSAS, SON ARE ARRESTED Warrants Sworn Out To Be Served Immediately, Charg- ing Bribe Acceptance ARREST Governor Davis Declares He Is Victim of “Frame Up” and Glad to Fight Topeka, Kan. Jan: 12.~—Gov- ernor Jonathan Davis of Kansas personally appeared in court this morning to answer to war- rants sworn out by County At- torney Veale charging him and his son, Russell, with accept- ing a bribe. Bond for ‘each defendant was set at $1,000 and hearing was set for Friday, January 23,'at 10 o'clock. Governor Davis had not de- cided whether he would attend the inaugural ceremonies this noon for his successor, Gover- nor-elect Ben S, Paulen. He had prepared a brief address to be delivered as retiring executive but his attorneys differed in advising whether he should at- tend. Accepting bribe is punish- able under Kansas laws by a fine of from $200 to $1,000 or im- prisonment of from one to seven years, or both. Topeka, K P,)—Jonathan } Kansas, and h (By the A ‘overnor of Russell, 28, son, were charged with soliciting and ac- cepting a bribe of $1,250 in payment for a pardon, in warrants sworn out here today by Tinham Veale, county attorne: The warrants we ued by Judge Paul Heinz of the Court of Topeka and immediately delivered to Tom Hurley, marshal of the court, who was instructed to serve them im-{ mediately. Col. A. M. Harvey, the Governor's attorney, was in court when the j, warrants were issued, County and state officers at a con- Nferenve agreed yesterday that war- {rants would ed on the Gov- jernor and his son before the inau- UNITED STATES WINS SHARE IN Allies Agree to Give Country 2% Per Cent to Pay War Damages FIRST SETTLED POIN Other Points Insisted on By U. S. Delegation in Fair Way to Solution ACCEPTED IN WASHING Washington, Jan. tative agreement arr in Paris between American repre- sentatives and the allied finance ministers has been accepted by the Washington government. Acceptance of the cement made known today at the state department where it was emphasized that no departure from the American policy toward collection of claims under the Dawes plan from German annui- ties was involved. ten- was Paris, Jan, 12—(By the A. P. Allocation of two and one-fourth percent of the receipts from Ge many under the Dawes plan, ning with the first annuity to pay ment of American war damages is the first settled point in the diseus- sions of the inter-allied financial conference. The other American dele points in which the ion is interested are toward settlement to on of Washington but able more negotiation is ne- ind the chances are that the plenary meeting of the conference, wiich was postponed from today un- til tomorrow, may be put off another day. he share to be reserved to the United States will decrease the per- centages of the allies, Frane ceding the greater part of one and one- fourth percent, but it is pointed out that extension of the period over which the occupation expenses were ead under the Wadsworth agree- ment compensates largely for these ions, a frowi~the~Feparation pay cessary ments | guration exe at which Mr. 'Davis will relinquish ‘his office. | Formal filing of charges would he ‘welcomed as an opportunity [clear his skirts”, Mr. Davis fed before the charges were filed, { “1 do not believe the suffi- cient evidence to justify the filing,”| The said, “However, if they want to file let them come ahead.” he Governor asserted t! his son had accepted $1,250 from Fred W. Pollman, banker, Friday ;night, upon delivering a pardon to the banker, the transaction was a “frame up” toShurt him politically, | and that his son had returned the! money when fe realized what had happened. ZERO WEATHER AGAIN PRESENT Rising Temperature Tonight, However, Predicted ae 2 while 0 Zero and sub-zero weather again descended on the Northwest last night and early today, bringing 15 below in Bismarck during the night. The cold spell may be short-lived, however, the weather bureau indicat- ing not so cold tonight. The high pressure area, with its attendant cold weather, extends from Manitoba southward to Texas. Tem- peratures were below zero in the Dakota, northern Montana and in the Canadian Provinces. Prince Albert Saskatchewan, reported 40 below last night. It was 4 below in Williston, North Dakota, 20 below in Winnipeg, 10 below at Méorhead, Minnesota, and 4 below at Havre, Montana. Low- er pressure has appeared over the northern Rocky Mountain region, accompanied by slowly rising temper- ature. About one-half inch of snow fell here last night and this morning, up to 10:30 a. m. The Missouri river also rose about two feet over Sun- day, according to the river gauge. WILLISTON PROJECT SAVED Fargo, N. D., Jan, 12.-The house of representatives of congress has passed the interior department ap- propriation carrying’ $25,000 for the Williston irrigation project, accord- ing to a dispatch received in Fargo. The appropriation was .urged by Congressman J. H. Sinclair of Ken- mare jof the Third congressional district of North Dakota. The senate passed the appropria- tion bill with the $25,000 aid provis- jon several days ago, according to fe sent by Mr. Sinclair to iston Herald. The bill now needs tle president's signature to begome effective. Con- tinuance of federal aid for the Wil- liston project was strongly urged by. beet sugar growers of the Willisten section, offical would purchase tags and they of such a bill, system would be a good one, and make for economy. and Dawes. liston was named alternate. Morgan, an elector, was unable to be present to help canvass the vote ja bill providing that a recount of and other electors designed G. A.|ballots may be had sin case of a ti McFarland of Minot to act in his|vote, on petition of any candidate The decrease in percents be the fact that with- in a couple of years, after Belgium ;has been paid ‘her priority in full, the Belgian percentage will fall from 8 to 4 1-2 percent, The American delegation is making use of this argument to resist the demands of the allies that the be- yments toward the un army costs be deferred un- til 1926, The supposition is that the French and British shares in the reparations will be restored respectively to 52 and 22 percent, after the Belgian part is reduced .to 4 1-2 percent. The ‘American occupation costs, ac- cording to British authorities, will be repaid in 20 installments of $52,- 500,000 gold marks ($13,000,000) an- nually, beginning in 1 This will yield practically the same total’ as the Wadsworth agreement of $10,- 072,000,000 gold marks ($268,000,000) payable in 12 years, which now is scrapped. The payments, however, are spread over a longer period and therefore, have less value from the banking point of view. further off-set b: BY ASSOCIATED PRESS Paris, Jan. 12.—American Ambassa- dor Kellogg, upon information this afternoon that Washington was re- ported to have accepted the settle- ment concluded at Paris between the United States and the Allies on the appropriation of reparation, "said there still remained a few details to be ironed out, but that he expected a full and final settlement to be reach- ed tonight. Auto Licenses By Counties Is Considered Registration and licensing of motor vehicles by counties may be proposed in a bill under considera- tion by Senator Carey, Richland county. Under the proposed scheme the Secretary of State or some other would be distributed through county auditors. Senator Carey, although not determined upon introduction Says he believes the Electors Meet, GERMAN MONEY begin-| it will take 50 per-| CHARLES E. HUGHES, RETIRING FOREIGN came Known as matic Phenom” and Solved Many Big Problems Editors note— Follow is story of the big diplomatic prob- Jems met b etary of State Charles E, Hughes, who has re- tired. Washington, Jan, 12.—Charles Ev- ans Hughes, today the world’s out- standing diplomatic figure, three and halt diplomacy. When Hughes took office as chief years ago. was innocent of of the United ats state depart- ment on March 6 1, he was a . learned jurist, a man with thorough knowledge of internal politics, but with only a superficial knowledge of foreign affairs. | The tangled condition of world ipolitics, however, provided a school for the new seeretary and he was a jready learner. Almost immediately he con- fronted with a boundary dispute be- stween Costa Rica and Panama which ‘threatened to develop into a South American war. Hughes stopped the fighting, cleared up the dispute. Meanwhile tain elements were prodding the United States to enter into a trade agreement with Russia, | as Great Britain has just done. ‘ |. Hughes, in-a statement, told un- der just what conditions the United ‘States would do so. ‘That statement ' Silenced the clamor at home and igained us prestige in Russia. Yap Issue Next Then the Yap issue drew to a head. ador : it Hughes stated the American stand Fr B. Ke on mandates. He gained for Am- now at the court erica cable and radio facilities on mes, a Yap equal to those of Japan. polis law- FF At the same time the secre : nd former was attempting to find the ba \ ed States a treaty under which the Un Senator, will States could recognize the Mexican ceed Charle government. Hughes as S With this schooling Hughes was tary a finished diplomat when the Wash- ington arms limitation conference opened and he was called on to pre- side, At that conference ‘Hughes devel- ped a new method of negotiation— oped g a finished program before i FURNISH | delegates at the first meeting instead of calling the delegates |pretty names. That method since has been adopted far and wide—notably at the most recent meeting of the rep- arations commission at Paris. More Problems Ruling Given in Case of Since the arms limitation confer- 4} ies ence Hughes has handled a dozen County Officials \ticklish foreign _situations—and ee ndled them all with a master hand. | ha at his own | al bond in- | stead of being insured in the State! Bonding Fund, an opinion | The secretary says he has no fix- ed foreign policy. He says he deals with every issue as a separate prob- lem Hughes is at his desk at 9 every A-county official 1 expense furnish a perso handed down by the Attorney-Gen-| morning. He reads the mail, meets eral’s office at the request of C. F.ithe y itors, holds conferences. At Kelsch, states attorney of Morton j 9 p. m. he walks to his club for county. |lunch, “Section 14 of Chapter 158, B More conferences fill the after- sion Laws 1919, which is the State! noon until 5. Then Hughes starts Bonding Fund Law, provides that: dictating. He leaves for home at 6. ‘any person elected or appointed to! He walks. oftice may furnish in lieu of such| ‘Indeed, walking is only regular insurance provided in this Act &| exercise Hughes takes and he’s al- bond by personal sureties or by 4|ways in perfect physical trim. sur compan; ays the opinion. Hughes’ Life “Standing his clearly evinces on the part of the Legislature an in- tent to permit a public employe to furnish a personal bond at his own expense he so desires.” The opinion further finds that the portion of the law quoted, together | with another section, makes more! nifest the intention of the legis- lature to permit a public official to file 4 personal surety bond, if he so desires. When a public is 60. He was educated Brown and Columbia . He was married at 26. iced law and taught law. nominated for mayor of but declined. He resigned jto become associate justice of the United States Supreme Court. | He resigned from this nominated by the Republicans for president of the United States in 1916. He was defeated by Woodrow Wilson. Hughes Colgate, official is bonded in the state fund, it required that the public corporation pay the premium, according to Harold Hop- ton, manager of the state bonding fund. HOLDUP MEN GRAB $12,000 | Kansas City, Mo., Jan. 12.—Four {men early today kidnaped Nathan A. Bellis, 21, manager for a Katz drug | store, downtown, while he was driv- ing home, took him to the store where they forced him to open the vault, stole $12,000 and escaped, Bellis re- Named Head Of Commission Frank Milhollan, railroad commis- sioner, has been reelected chairman of the state printing and publica- tion commission. Other members are Commissioner of Agriculture J. A. Kftchen and Secretary of State SECRETARY, WON HIGH PLACE IN WORLD | Novice in Diplomacy When | He Entered Office, He Be- “Diplo- AUDIT REPORT PUTS LOSS AT $2,188,089.20 First Report of Accountants to Set up Definite Loss on Old Accounts NO FUTURE HOPE SEEN Bank Lacks Means to Employ Funds Profitably; Must Lose Money Conclusion The Bank of North Dakota has los $2,188,089.20 during the period of its operation of five and a half years, according to an estimate presented in the audit of the bank made by Temple Brissman and Co. certified public accountants which has been received by the North Dakota Indus- trial commission. In the opinion of the auditors this loss must be met by a deficiency tax levy, Of this sum, $188,089.20 represents a direct deficit from operations, and $2,000,000 is a reserve set up by the accountants to meet estimated losses on sums due from closed banks, real estate mortgage loans ete. No Future Hope Analysing the operations of the bank the auditors declare that; “It is to be noted that the de- ficit is steadily increasing re- gardless of increased volume. In fact with a large accumulation of money resulting from the liqui- dation which cannot be reinvest- ed at anything like the profit which it formerly yielded the larger volume has resulted in in- creased loss. Adequate sources of profit are not available.” The income of the farm loan de- partment of the bank is insufficient: to meet its expenses the auditors find, declaring that; “It is apparent from the statement of expenses that the income from application and appraisal fees is en- tirely inadequate to meet the oper- ating expenses of the department.” The audit was made as of October 15, 1924. The footings of the bank as of that date are placed at $13,- 211,274.86. These figures include the loss of $2,188,089.20 already pointed out. Loss Has Been Known The loss of $2,000,000 aserib- ed by auditors to shrinksg? ta assets will cause no surprise in official circles, except that the amount is somewhat larger than had been anticipated by some. Independent officials are inclin- ed to say that the losses resulted chiefly from redeposits and loans made in closed banks by the Fra- zier administration of the bank, and which the present manage- ment has not been able to “thaw out.” It was generally known that a heavy loss would eventual- ly be sustained, but no apprais- al ever had been previously made in an attempt to determine the loss. However, since there was a good crop this year and col- lection has been going on in the fall, the accountants endeavor to set up ths reserve. Discussion of Loss In discussing this loss the accounts ants make the following comment; “While every diligence and econ- omy appears to have been exercised post when | by those charged with the manage- ment of the bank a loss has been ac- cumulating due to economic condi- tions for which they cannot be held responsible, “It will be observed that the de- ficit more than exceeds the capital account furnished by the state bank bond series of $2,000,000. This loss merits prompt attention as it would appear that it must be restored through a deficiency tax levy rather than from future bank earnings.” In brief the bond liability still exists, and there is not sufficient available tangible resources to meet all of the regular liabilities of the Bank and pay off the bonds issued for its working capital.” The assets on which this loss of $2,000,000 is estimated are listed in Robert Byrne. ported to the police. STATE LACKS FORM OF ELECTION BALLOT; BILL T0 BE INTRODUCED > Acbill providing a form of ballot in North Dakota will be introduced tion, the recount to be made by the canvassing board without expense to Cast Ballots For President | senator c. w. Carey, Richland coun- A woman will ¢ carry North Dakota's vote for President to Washington |Senator Carey, there is no form of The presidential | ballot provided by law, the old form electors chosen last- November met |having been repealed in the last ses- here this afternoon and designated |sion when election laws, subsequent- Mrs.. Edith M. Christianson, of Bis- marck, wife of Judge Christianson | enacted. of the supreme court, as the bearer electoral vote,|the time the make-up of the pres- which the electors cast for Coolidge |idential ballot last fall, and a form W. D. Overson of Wil-|of ballot finally was prescribed by Riley |the supreme court. for the first time. of North Dakota's stead. the candidates. The recount would be optional with the candidates. As a matter of economy, he also pro- poses a bill to do away with the “scattering vote” evil. Under the present law, if there is but one can- didate on the ballot in a. primary election, and voters “write in” the name of others, the highest of those “written in” goes on the November ballot, regardless’ of the number of voters. Senator Carey ‘would re- quire a “written in” name to receive as many votes as it takes names on a petition to get on the primary ballot, before the name would be entitled to go on the fall ballot. Senator Carey expects also that @ constitutional amendment propos- ing four-year terms of state office will be introduced. in the state senate, according to ty, chairman of the elections com- mittee. At present, according to ly defeated by a referendum, were The question became prominent at Senator Carey also may introduce who is tied for first place in an the bank’s statement as follows: Due from closed banks $2,471,858.23 Other Assets ... 35,316.28 Real Estate Mortgage TOMES cing so posraeae 58,988.69 Motalicae scenes $2,666,163.20 Less Reserve for losses $2,000,000.00 The largest item included in the amount due from closed banks is made up of the obligations of the Scandinavian American Bank of Far- go which come to $329,207. Other “league banks” whose relations with the Bank of North Dakota came into the limelight four years ago.also figure in the present statement the obligations of the Proper State Bank for.example amounting to $31,592. Real estate mortgage loans which are included among the probable losses amount to over $58,000. Chief among these is the loan made D. J. McMahon of $25,000 which figured in Political campaigns in 1920. The largest item among the “oth- er assets” to cover lass on which the Steck be ae Meg Cemeuleni 2 loan ity 7 Packing Co. of Fargo of $22,497.76, “It is doubtful that any further li- (Continued on page three)