The Bismarck Tribune Newspaper, August 6, 1927, Page 8

AGE EIGHT REDUCTION IN RRAL ESTATE HELD BY BANKS Buying of Farm Property Gats This Item Nearly Half Million Dollars banks, issued today nk examiner's depart ago the amount of "held by 438 banks ompanies reporting By December 31, 1 i three trust comn er real es . ‘The report condition of all banks ! ie real estat four trust $ s of June 30} shows that 386 banks and three trust companies had “other real estate” | valued at $5,447,892.69, | Increased Interest Brings Reduction! ‘The reduction of close upon half a million dollars is attributed to. in-| creased interest in North Dakota farm property and the slowly de- i on the part of ner- to buy farm land | while it is still chea~ officials of| the state banking department believe. | Statis' showing the deposits and obligations of the banks report-| ing reveal that much of the capita! in the state now is actively at work getting in the big prospective grain crop. Loans to farmers to enable| them to harvest their crops have been heavy. At the same time per- fens with heavy deposits have re-| duced them to finance their own on- i This accounts for the of approximately $6,500,- 000 since last December and of near- ly $13,000,000 since June 29, 1926. The total of deposits now is $i 156,605.91 as compared wtih $69,613 132,02 six months ago and $76,076,- 570,68 in June last year. Reserves held by banks, however. continue to be ample. The total of reserves available as of June 30 was $9,800,876.21 whereas only $8,558,- 647,78 is required by law. ‘This leaves a surplus at the low point of the financial year, just before the crop begins to come in, of $1,142,- 228,43, How the demand for harvest and other funds has decreased deposits and forced the banks to call on their rserves is shown by the fact that deposits subject to check June 30 decreased $3,621,038.83 while time certificates of deposit shrunk, $2,- 497,282.83 and a shrinkage of $219,- 817.72 in savings deposits. Demand certificates of deposit also showed a slight decrease. Decreased Government Holdings In order to meet this heavy demand and to make needed harvesting loans the banks decreased their holdin of government issues by $644,307.63 and their holdings of warrants, stocks and bonds by $432,032.42. At the same time they collected $2.475,- 801,56 of' old loans and_ increased their bills payable $728,692.19. In- cluded in the bills payable account is all money borrowed from other banks. A marked change is made in ‘the undivided profits of the various banks. A year ago the total under this item was $849,485.63 but the present report shows that all of this has been wiped out. This is due to +he new state law which requires all state banks to build up a surplus to the capital before divi- As a result of this law the status of money formerly listed as undivided profits underwent a change. The continual decrease in the num- ber of state banks which has marked the banking business of the state for the last four years is believed to be at an end and banking officials ex- press the belief that from now on the number of banks will either re- main stationary or show a slight in- crease. Unrestricted opening of banks no longer is permtted under the state law which grant the state banking board the power to control charters and indications are that the board will be very careful in considering applications to open new banks, As now outlined the policy will be to refuse such applications from dis- triets which already have ample banking facilities and to grant new charters only in those distrites where the closing of numerous old banks has resulted in an actual lack of banking accommodations, Rail Board Plans To Take. Part in + Hearing on Merger Announcement that the state rail- road board will take an active part in the hearing to be held at St. Paul on October 3 at which arguments will be presented the Interstate Com- merce Commission with regard to the proposed unification of the Great Northern and Northern Pacific rail- roads was made at the board offices here today. :Members of the board were ac- quainted with the plans of the two raiJroads at conferences here several months ago but to date have ex- no opinion. It is anticipated, that board, members will not oppose the movement“but may suggest that the : 0 iidation plan be enlarged to however, Burlington route under the |Studebaker Makes en ee | FLYING TOWARD THE SCHNEIDER CUP Here you have the trim metal wasp in which Lieutenant Alford Williams, the Navy’s speed ace, hopes to recapture from the Italians the coveted Schneier seaplane racing cup. ii the ship going down the ways at Port Washington. Long Island, for a test over Long Island Sound. At {coming of the improvement as the the left below is a close-up cf the 24-cylinder, Tate motor and, at the right, Willjams and his}remainder of the residents of Mc- wife. lime over the northwestern corner of | Pierce county. Where the hail and other elements were the ‘most severe, certain to be followed in a short tine by other American sutomédbile manufacturers. .{U. while ostensibly manifesting loyalty to the new sovereign and the etd y say these dispatches, actually woul sees Sooke eee GREAT DAMAGE See ae — | the crop that would overthrow th ier earth, it was reported by the Maxba S. Co. Puts Out regime. Carol is declared to be still DONE BY STORM company, which added that ¢ i * storm in that vicinit; th Low Priced Tire) sitvcsy pr on ieee than six months ago, y ieee : nenthat hn eetere ether 'sseeiy| Thousands of Acres of Crops|Bids Are Awarded or legally is not excluded as a possi-| in Bottineau and McHenry |. for Building Work Counties Ruined, ; on Prison Quarters bility. ’ The Bucharest dispatches say that efforts are being made by the Minot, N, D., Aug. 6.—()—Sever-| Bids for work in connection with al thousand acres of crops in parts | the construction of the new officers’ of Bottineau and McHenry counties; quarters at the prison were opened The United States Rub¥ét company has announced to the trae portant addition to its Jsco, Junior. This 3 in im- line, the will now be furnished in 30x and 29x4,40, 3 8 ever ¢ ‘the quarters at $13 per square. H. Rifle Stars Among visited the region, and that the loss Lae eet hintaan ca pebaed will mount to many thousands dollars. : Not only were crops flattened, but shingles on farm buildings were torn off-and many smaller structures, in- cluding several granaries; were blown cladin Gets 60-Day Term Threé-Inch Hailstones Indianapolis, Aug. 6.—()—The In- storm, according to reports, | inated ik. the vicinity “south. of (diana supreme court today sentenced Antler, near the Canadian bérder, in| D¥. E. 8. Shumaker, superintendent northwestern Bottineau’ coufity and f the Indiang Anti-Satoon league, to moved southeastward, following ‘close | £ days on the state penal farm fol- to the Mouse river and jumping the | ‘owing his conviction yesterday of stream to enter Pierce county, dying’ pec 4 ‘of court in connection with out near Tunbridge, about five miles | Publication of an article held derog- from Rugby. Hailstones measuring as | S¢0r) to the supreme court in the large as three inches in. diameter | ficial magazine of the league. The fell during the brief time that the ,°°urt, also imposed a fine of $250. storm lasted In each locality, and} > big sentence was pronounced, rapidly moved on, creating a pathway rae Ingham, attorney for Shu- of destruction from three to five of r, said that a motion for arrest: miles in width, it k of judgment would be filed. The The storm is estimated to have |CoUrt seb August 18 for hearing: of been between 20 and 30 miles in| this motion. In the meantime, Dr. length and atin southeastward | bassin will be rele on his from Antler, passed between Maxba $1000 izance on nominal bond of and Westhope, hitting in the vicinity | #1000. of Dunning, Deep, Upham and short- ly thereafter crossing the river to trike north of Towner contin | the contract for plastering. Guardsmen Cannot | uo Dry League Head All Attend Tourney’ Reluctance on the part of some of, the best marksmen in the North Da- kota national guard to leave their work at this jon of the year may result in the im from this st: making @ poorer showing ir the n: tional matches than has been antici- pated, according to officers in the adjuts office here. will accompany the team there will be 12 shooting mmbers. As yet only eight have accepted the invitation to Whe tent the state in the national rifle contests at Camp Perry, Ohio. A number of the best marksmen in the state who were: the, first choice of the adjutant genéral’s office have informed him that they will not find it convenient to get away: daring the latter part of August ond the first part of September when the matches will be held, Phone.944 For Tire Service. This announcement considered | Rumanian government to induce ear- by the trade of unusual significance | ly recognition of the boy, king Mich- because the Usco, Junior is the low-|ael and his regency by the foreign lest priced tire which has ever been | government: us far, it is added, announced’ by any of the larger rub-| not a single foreign representative) and a small area in Piesce county to-; and cont¥acts awarded at the last ber companies which bears the name | has présented his ctedentials to the|day are flattened on the ground and | meeting of the state board of admin- of the manufacturer und is sold un-| new regime, the comment being made | almost a, complete loss as a result of | istration. der the standard warranty. that all the foreign countries appar-| devastating hail, wind and rain whi H. S. Pixley was given the con- , ——______ {ently want first to satisfy them|swept through the territory late yed-| ‘tract for painting the quarters, witht selves that the boy sovereign and his |terday, according to reports received | # bid of $1,112 and the bid for the supporting regents have come to/here today. hardware was let to Carlyle and y, and that Carol will not make! Telephone descriptions of — the| Bristol of Fargo at $320.85, tempt to upset the throne. ~_ / storm, received here today, said it The Johns-Manville company bie ENDS TONIGHT was one of the worst which hi awarded the contract for roof fo: Ferry Used For Many Years Idle Today Following Bridge Dedication Sanish, N. D., Aug. 6=)—An old ferry moored against @ bank of the Missouri. river today idly rides the s in the shadow of North Da- 's third public bridge across the of the Big Muddy, ‘which was cated and christened here yeater- A bottle of Missouri river water in the hands of Miss Muriel Sinclair, daughter of Congressman J. H. Sin- clair of Kenmare, called for the re tirement of the ferry, “The Fawn, as the flask crashed against one of .|the stee}] girders in the christening *lceremony, watched by Governor A. G. Sorlie and his party and the huge throng whieh, had .assembled for the vent. sai Will Move Ferry Elsewhere Completion of the half million dol- lar bridge meant the ruinagion of the ferry business operated by I. L. Ha- gen, but he was jubilant over thé The 10th is the last day of. discount on Gas bills, — Above, Williams is seen in fT” OVER A YEAR OLD—AND STILL A YEAR AHEAD and Mountrail counties who especially benefitted. He hopes to put the ferry in operation |manager with the,Lahr Motor Sales|at some other point on the river. ON MOTOR ROW company, Willys-Overland dealers,] The two-day program in celebra who declared that no longer does|tion of the erection of the huge steel this feature apply only in the larger| span will be -brought to a close to and more expensive cars. This is}night, with a wild west rodeo pre- evidenced, he says, by da second time this afternoon A Year Ago You Read- Chrysler ‘Red-Head’ ion engine is | ysler corpora- | own as the Chrysler le vivid red color to distinguish it. For several years, high compres- | sion engines and fules have been in use on to the inadequate distribution of this fuel it has not been practical to use high compression in automobiles for general service. Mr. Chrysler now | sees the opportunity of introducing to the motoring public engines de- signed to operate with this fuel be- cause of its now very broad distri- bution. The original Chrysler engine in-| troduced three years ago was a high ne. Chrysler engi ed the many advan- ng the compression compression en, neers have re: tages of iner still, higher. ey anticipated the coming of nigh compression fuels. so they set about to build a car a strength and sturdiness more n adequate enough to meet the demands of a higher compression mtor. so> Price Reductions| Sweeping price reductions ranging up to §260 have been announced by the Studebaker Corpogation of Amer- ica on the most beautiful, powerful and durable line of Studebakers yet produced, The new prices, which go into ef- fect immediately, are the result of years of preparation, possible b cause the corporation has consistent- ly re-invested millions of earnings in economic expansion. Cotipled with this production accomplishment, bri liant engineering has played an im- portant part in the development of what are properly considered the finest Studebaker cars ever offered to the motoring public. The radical reductions announced affect every car in the line and bring it to a new level of value. The Studebaker policy is to sell its cars ready for the road with more than $100 worth of extras without extra cost. All models, it was stated, will continue % be equipped with front and rear bumpers; shock ab- sorbers; thief-proof coincidental lock to ignition; steering wheel and spare | tire lock; engine thermometer and hydrostatic gasoline gauge on the dash;trear vision mirror; automatic windshield cleaner; rear traffic sig- nal light; two-beam acorn headlight: and other equally important acces- sories, Latest Dodge Sedan Sets New Standards New standards of performance and beauty are to be found in Dodge Brothers’ latest sedan, introduced July 17,as the first body type in an sarement as the two North- inc! same ma’ oe le luding it in the merger. Northern } xailroads jointly hold 97 per catet ie Burlington stock. ering Hope’ To y, 8D. Aug. 6—)— ng hope” thet Precltent renominated and re- and Northern ae pabitely new line of four-cylinder ears. in presenting this sedan Dodge Brothers have come to the fore with car so new and so advanced in en- gineering features that it has been atcorded a most enthusiastic recep- tion -by the public. Orders for ap- proximately $3,250,000 of the sedan were received within two days after it was. introduced and since that time Huslnats Bae been so great that production been. incréased. The new car is advertised as the fastest four in America, giving mile- inute performance with surpris- and smoothness and ac- from 0 to 25 m per than seven seconds r So great is the power of its engine in relation to the weight of the chr. that it-is never forced to labor and He reo: cat Jim eo) roughness pounding re rem for its high quality and strength. It | of is the one car selling for less than Is Latest Addition si. the body. In the de ight cars Four-wheel _ bral Few New Cars Have Received a Welcome so Emphatic kable for its rounded beauty but|ting a notable record in all sections “Red- |blended curves, perfect racing automobiles but due | Pour Wheel Brake and ‘Whippet six, ‘both mpdéle ‘setqat: spectators, ‘ ads anced » all ¥e Indians, several hundred in num- E ber, chose to establish their own With the introduction of the Whip-|gmall city of tents in the shadow of ake milli ight cars obsolete” 00 which has a full metal roof | r ago, four-wheel brakes |Crow High Butte, and the sight m e m tons “ ’ 3 ul and belt moulding integral with first appearance on a low proved a point of interest for several a \ . oa: . ay ced four-cylinder car, a conspicu- {hundreds of whites who paid the ori- . a ¥ luxe sedan long ,lines,|us improvement over cars then in| ginal Americans a visit. ‘ proportions | vorue. The installation of fais por tic eachaeeeen Iairidee penta an da ‘j|and smart coloring combine to create equipment on the Whippet, the first ri The ‘hedd: will’ Be’ Bainted A ee praadion Of baMipe SChsantt ae to appear in cars of that ‘classifica. To Guard Against ever, achiby! ion, was explained as a_ necessity: ‘ °, because of traffic conditions whieh |< Return of Prince require quick and positive stopping. ye a 4 | Today it is proving one of the chief | Budapest, Hungary, Aug, 6—(®)— inquiries of prospective purchasers, | Premier Bratiano ‘has ordered # Proves Its Value rie ae aye j double guard at all border points ce The appearance of the Whippet a! where former Crown Prince ‘Carol fe equipment is) fear ago and the subsequent manu- | might attempt to enter the country, playing a major part in the sale of |facture of the Whippet Six, both] according to Bucharest dispatches |both four and six-cylinder cars, ac-| with four-wheel brake equipment, is | reaching here. cording to J. H. Healow, retail sales | said to have set a precedent which is} Opposition parties in Rumani — ERY I wit / It is inevitable that other manufacturers must even : tually follow Whippet’s example. The greater. MOMY, = - greater safety of 4-wheel brakes, greater roog lower center of gravity, higher speed and many other d Si advantages of the Whippet were enthusiastically ac- Sh ke lnaat wes tan ed oe ‘ following—is already a spectacular national hit. eg | Within ewo days after the first public showing ’ orders were = for $3,250,000 worth the new Sedans. a price is one ing reason—and here are a few ‘ of the others ~ From 0 to 25 miles an hour throu in : ; Longest springbase of any.cat under $1000! ‘ oe 25 miles per gallon of gas at 25 miles per hour. wee Chic, smart, up-to-the-minute body lines= Built to lest long and re-sell high, . . _M, B. GILMAN CO.” ROADWAY: Aye sec on