The Bismarck Tribune Newspaper, June 10, 1926, Page 2

PAGETWO BANK OF N.D. SHOULD BE ALLOWED TO HANDLE FARM LOANS ONLY, SHAFER SAYS AT MEETING AT NEW ROCKFORD i. D., June 10—| paid the in pital bonds, at the Bank of | which is $100. num, and has lost more it has paid nothing whatever toward Attorney Gen sinking fund to return the princi- , in-an address : bonds when they come that the onBy Di in which the bank has a pr@per field for operation is in the handling of farm | ‘ fighd of ru ies of the pri * to meet the reason- ww’ Rockford, (MAPointing out t Nfth Dakota alre than its capital : sa jeorge due bank sufficient ston such bonds. % there has um of Ing expense nu of the favor r ofthe Bank of North Dake fafh loan business and to eliminat all of its other functions for the | on capital Narth Dakota, in 06§,D00 origi stite, has bee -supporting, it is y THR it should engage in ve 1s was done anagement, and nd it will be done ptains strained nk, it is certain to disaster. Changes wement, coming as a result ng political conditions in t HW ly in time, hiy dangerous and in » to engage in the with the with the public finances if the authority to do a regular banking ness with the state’s funds nitted to remain. Qn the oth hand, if the bank operated nomieall, nd efficiently, and that degree of conservatism ne ‘to protect the public funds, it w continue to be in the future, as it s been in the past, a charge on the xpayers of the state of at least $100,000.00 each year. alled a Menace of experience with e proved, it is a “positive me | future of the state bi lit places sweeping powers hands of a few ele ‘i ble to| . Experience has shown, he said, that s its capital, it is “extremly hazardous” to vest in nying tg. the | Politically selected officials the power ical subdivtsions|to invest public funds except under deposit with it.| the most stringent restrictions. “It : is contrary to all hum experience to find that public officials may be safely entrusted to either honestly or engage in form of specu- tive business with public mone entrusted to the: The four major pitfalls, he public fund the state throusth us Audit Report rusted ng the audit report of O w that the bank had K. ritted to oper any actual ¢ entire It is ry rtisan League to make it the ‘fi- of North Dakot it has no insolvent conniz insolvent pon the state, or bught to replace its lost thus put it in funds and give it an- wither chance to become self-sup- porting. . “This de com the 00 in u 4 ter condition could not! hwithout amending} ive of “operating it without} ng out its ge Under these not the bette of wisdom to frankly recogni fact that the bank is virtually solvent, in that its capital is gone, d liquidate its contmercial bank owned, should be. self-supporting it is to justify ence. I 5 supporting, it the state, r the state; dustry is not self- 4 dependent upon a supporter of her than an} Dakota July nd apporting dur-| nee the first! a period of seven years never been self. f that tim How * Here’s a chance, fo try a remedy for guarantee of a r it will not eae kles with ‘the iable co ou a penny ckles; “while if, it fou. a clear complexion the trifling. | get an gunce of Othine- double ‘strength—from any drug or department store and a few cents | gations should show you how it is to rid yourself of the hom freckles and get a beautiful com. plexion. Rarely is more than one ounce needed for the worst ¢ Be sure to ask for the double Strength Othine as this strength is| sold under guarantee of money back | if it fails to remove your fr —Adv. known brand, bottled drink—NEHI. bubble. | fluence: - | judgment, i Shafer said, | THE <p . Bad judgment of the officers | power in a small body‘pf electa Incompe- | officials to Joan soy ele finds of y of the officials and employes. | the st If pubs lic funds are per 3. Political favoritism. 4. Dishonesty. | mitted tu be leaned, it ts natural Politic nd_potitical in- | that the weak bahks should seek such he said, are ys brought loans. The weaker banks are the to b officers, he s more money they will ask for, and! “and nothing could more jlikely get, with the certain result astrous to the efficiency and inter-| that the safety of such funds is con- rity of a business organization than) stantly jeopardized and great losses the influence of political pressure of | will necessarily occur. This is the one kind or another costly but plain lesson of oyt ex- erience with the Hank of orth Da- ota. With this object eae in befote us is it not our duty to profit by the experience and take the neces-| | Sary steps to protect our state against the tecurrence of ‘such a financial disaster? This is what the’ Independ- ent platform calls for gnd. what com- mon sense dictates should be don Referring to the farm loan busi- as “the only useful’ field in the Bank of North Dakota ma} Shafer said that a general depositary bank is not necessary for the operation of the farm loan de- partment. South Dakota and Min- y|nesota have loaned millions, the North Dakota Board of University School Lands also has losned , controlled as re by small and ever changing ps of men. No s ards have been invented to ‘protect the against the evil consequences of state-owned and politically operat- ed business enterp p Past experiences, he said, “demon- strate the soundness of these con- | tentions. During the first two and a half years of its existen under the so-called Cathro admin y of offic ntrolled the | ne: and political major operations many believe that actual existed in some of its d Some Losses mong the losses of administration he — lis loaned to the Home Build tion withgut s 2 illiams coun 8 in the Bank at lost in this manne “These example show the great the ©: | bank so'as to continue only its farm e|loan department for “so long as it ry or proper for the dinavian American \ More than $1 500,000 | Replying to the statement of Gov- Jernor Sorlie that the Bank has saved uid, ly! money in marketing rural «redit of vesting! bonds, Shafer denied that such was ge For Sale Big Silage Cutter, 6-h. p. Electric Motor, Steam Jacket, 200-h. p. Steam Boiler, Sausage Stuffer, Lard Press, Lard Cooler, Trans- formation Hangers—Belts and many miscellaneous articles too numerous to mention. Phone 631 - - Mandan For Good Health’s Sake--- Insist on A bottled carbonated drink of uniform high quality, insured by a well PURE SUGAR, for food, PURE WATER for thirst, and CARBONATION for health and zest—these are the wholesome ingredients of your favorite Made in a scientifically equipped plant where only ingredients of tested purity are used, never touched-by human hands and hermetically sealed in spotlessly clean bottles—there is joy and health in every effervesceat Carbonation Jends that piquant, tingling taste, insures scientific purity of the drink, and stimulates digestive functioning. ig present in every bottle of Nehi. This perfect carbonation —and for the home buy it by the case Always Don’t Say Pop Call for Nehi in your avorite Flavor -Say. NEHI Nehi Is For Sale Wherever Quality Beverages Are Sold BISMARCK TRIBUNE ' iy ‘8 8 erent hy tue indoteeiat coramisetes | ‘Two Sows ye wee i igs Are Burne directly and the Bank of North Da- Firemen managed to confine the kota had nothing to do with them ‘except collect the money and deliver the bonds after the sales were nmde by the commission.” |blaze at the Dohn slaughter -house piso eb wea | yesterday afternoon to the buildings 2 ,in which the fire started, despite the Ladies’ and misses’ sport) f.0t that a strong wind was blowing and dress coats, values up to at the time which made fire fighting { |very difficult. Sparks from a stove py ei 50. Bismarek | (ery “ised to heat water for butcher. loak S |ing ‘purposes -are. believed to have van York ‘There’s no other cole lar like it—it's a Van Heusen! Compare it Oe ans THURSDAY, 2» JUNE: 10, 1926 started ‘the fire. Most of the stock Dr. 'T. G. O'Hara Denti in ‘the building was driven to safety but at least two sows and 10 or a ist Lucas Bldg. _ Bismarck, ne D. Successor to I'r. C. C. Hibbs dozen small pigs were burned, Use Gas, the scientific fuel Office Hours—9 to 12; 2 to LM Telephone 281 ee H. B. LOVE , D.CPHC Doctor of Chiropractie. EXAMINATION FREE. Eltinge Bldg. 4 Phone 174 ‘Ask For: ‘Very Best” Brand voice Style) with other collars, Note its “total flexibi- lity.” No starctf or bands or seams. Smariness and com- fort collar-combined. 12 SMART STYLES $0 CENTS EACH Phillips -Jones, N.Y. _ the World’s Smartest Collar ETDS wh with red trl Perfgction. Oil Stoves and Wicks las ft ware | Com 3 lke a ae ‘Parell 4 Compa ny PHONE 114 ~ 197 Dis. Made by Master Malters. 100% Pure Barley —_— C. 0. PETERSON (State Distributor), -617-NENTH ST. wah LS N. DAK. Special Aanonnrement “The Fighting Boob” featusing Bob Custer 10th chapter‘of the serial 3 News teel. On: account of circus day we give snccial 4 matinee at 10 o'clock Friday morning. , + Do chanmeeii -aianty: sei es cab aan 24 all perfectly-cooked . Step into any dealer’s store and see the Per- fection stove endorsed by six famous cooks. All sizes, from one burner models at. $7.25 to five burner ranges at $130.00. You, too, will be pleased with the 1926: Perfection. PERFECTION STOVE COMPANY St. Paul Breach, Poy, Avenue Oil Cook Stoves and Ovens. Warn’ Use’ onl genuine Pertection wicks on ‘hey-are mark Others wie cause trouble, leo) a ware “French & Welch Haraw ‘PHONE MA