The Bismarck Tribune Newspaper, June 26, 1937, Page 4

The | chased bonds from school districts, drainage districts and other SLAMS TIT MAIO RENE YALA SNPS AOR A TSR DIN EET PAIN Te THE STATE'S OLDEST NEWSPAPER CRaablizhed 1973) Mate, City ané County Official Newspaper ___ THE BISMARCK TRIBUNE, SATURDAY, JUNE 26, 1987 Department Receiving About deg notr pune. “All queries, tr Be nce atied by © ator mse te Fry stared the bodice iti ‘tt Binmarex as socond clase &|' 700 Applications Daily; 32 Mann Act Violator Threw : Mrs, Stella 1. Mann Losses Are Reported | Away $1,000. Bills President and Treasurer ‘ Archie O. Johnsco Kenneth W, Simons chronic bronchitis, chronic arthritis, is last year’s almanac—ought to practice natural breathing Tt is good for the circulation and steadying to the nerves, or antyway, it is for what you poor misguided geeks call “nerves.” ‘ A normal can take a full th, when sitting at rest, then hold . After ‘8 dozen inflations of the the belly—the same person can hold his breath from 60 to 90 seconds, per- haps two minutes. The length of time a person at rest can hold his breath i‘ &@ gauge of the efficiency of his circulation. Remember, the chief purpose of the circulation is internal respiration, that is, carrying oxygen to the ceeeuuneeeeet of all the body tissues and carrying carbon dioxide back to the lungs to rise Coperteaanss reosiens s0eut 2 er Ta nicl J.M 66, 17-year: blown off. ” i : Member of Audit Bureau of Circulation pproved as of June 2, ncis J. Mumm, 66, Tt is a mistake to imagine you can increase the absofption of t all | by di . Every such spurt of deeper or faster breathing, Member of the Associated Press Is Claimed by Death a . The Associated Prose is exclusively entitled to the use for repudiieas tion of the news dispatches credited to it or not otherwii edited in this Rowspaper and also the local news ef spuntaneous origin published herein. alt tights of republication of all other matter herele are alse reserved. Better Beware State officials should: look long and carefully at the pro- posal to make a complete audit of the affairs of the state land board. Specifically, they should estimate whether or not they can “take it” before the investigation is ordered. Or perhaps it would be better to say they should decide in advance whether they are prepared to ACT on the basis of the facts which such an Eega® envi audit would disclose. - A “These things are entirely apart from any political consid- i Newspaper 6 2 erations. It is to be assumed that the proceedings of the land Fro Py} can commission and its employes are entirely proper and that no ee Lewiston, Me, June 2—(P)—The ro of the bellows, one must blame will attach to anyone. oe vote Lewiston Dally Gun reported Saturday | teiner” of the APL, was a preai- | PRISOIONY Of the berating rea john i But every student of state affairs has known for years that if he were made experimentally by the Bee | cent - it would take a large sum of money to restore the trust funds % Northern Paper company from south- ig ree were the first children of Mr. and Mrs.|ambush holdup last Sunday of Mf - adfatllabed for state’ dhaiigdsiids to. 14a) point contemplated Washington 2t—iP—Rep:|ern slash ne pulp, “Printed well’! Mankato Twins Will | on Peter eros, ‘me family moved jand Mrs, Biward Pederson, t. Pau by the agreement with the federal'government. This‘agreement ; ; operating brotberboods| paper, had been issued on” peper| De 2 Next Christmas apa niia, Snatenere, When Senha ae, eee oo eee, was made at the time the land grants were given. to North specifica, agape repr He southern pine argh eld sds ciate daily i . Dakota, . ; ————— in s seddlery shop here. Mrs. Hodapp! Warsaw, June 26—()—-Crowd & The losses sustained by the board in its years of operation | Dutiicy increase. Sid een AERIAL EBON peeps rg ror ge petra eet pada a : have been variously estimated, but a figure commonly heard is ‘eppropria 26(P—King George, Queen Eliza —_—___—_ chair $6,000,000. favored elevation beth and other members of the family Clara Hodapp John TWO HELD FOR HOLDUP -_** © © @& Saturday reviewed planes of the be 82 next| St. Paul, June 26—(%)—Frank Mor-|urday. 3 : : . royal air force in one of Great Brit- day. Born Dec. 25, 1855,/rison and John Black, Minneapolis!manian and Polish solidarity-as a. The'way in which these losses: have occurred requires an It can be persuaded to ain’s most spectacular serial shows Anthony, now Minneapolis, they|men, were artested Saturday for the | bulwark i understanding of the affairs of the land commission. Granted huge tracts of land, it sold hundreds of thousands of acres, turning the money. into cash.; ‘Under the state’s con- tract with the government this money became a trust fund for various purposes and the state was required to keep it inviolate. If it fell below par the state was obliged to restore it. In other words the state.is legally-required.to make up any losses.which LETYPE may be incurred. Mtetwa SUPERSTITION MOUNTAIN ; Washingtno—The any it was subject to all other hazards which attend invest- By Oren Arnold Copyright 1937, NEA SERVICE. Inc Under the law the board is permitted to make loans on land and to invest in certain securities. dore Roosevelt, Jr.- / CAST OF. CHARACTERS . The land Joans have resulted in huge. losses... How, much ‘ || promectere danghegre Ts Nerete®s only an audit and appraisal would disclose. Insurance compan- é “RO ' er. ji Oa sth tall fri deer hh ies, private banks, the Bank of North Dakota and the Federal vintasested 7 {CAR i HENRY COLTER, prospector. Land bank have sustained such losses. There. is no reason to|| i ¥ 8t. Paul—! .E prospector tenets hapa assume that the land department would be exempt. But other ge smo inter BEE institutions can either write off the losses and go ahead or go . 2 hands aumeetty te, out of business. The land department can do neither. The : : : credit of the state is pledged to the restoration of the trust funds if and when losses should appear. The reason the losses have not been made clear lies in the difference between book value and actual value. Lands are ti carried on the commission's books at what the commiasion has invested. If the difference between book value and actual value are ascertained the total probably would run into many millions. se @ +h 8 Under the law, appraisals for the purpose of obtaining loans from the land department are made by a committee of local | *°e>* public officials. It would be unusual if, in certain appraisals, these local committees. did not. permit their judgment to be swayed by personal and polftical considerations. Especially in view of the fact that the state would have to foot the bill if the loan “went sour.” ‘ Then, too, the state land board has not always been above such mundane considerations as how. to feather the nest. with votes. This is natural, too, in view of the fact that no member of:the board would have to pay the losses from his own pocket. _ That sort of thing has been going on for YEARS. There isnothing new about it, In fact, the situation probably is better now that at most times past because the land:commission has | been making fewer land loans recently than it used to do. It hasn’t had the money. gee epEaie [ H i i z it F te i ii rt r ina : 2 EE El i ; i EB E f i 7 ry 16 a : i E i Fz ety ; li g & Ff E A | gE tt i 5 ul i e-* eo. @ #. But it should be borne in mind that land owners, after ne- gotiating a loan, have been known to remark: “The state doesn’t know it but it has just bought some land.” The best proof of this fact:is that the land department has on its books ‘some loans on which nothing has been paid in either principal or interest. It is a fair inference that the borrower never in- tended to pay anything. . , Then there ‘have been other losses. The board has pur- a # él i : Ay g : z& i ce K i i i i ; i E f he : : i & 2é g : z g i i fj: fi eft H Fe i ‘F E Se ' e a 4 E a E i Zi a if xe af Political sub-divisions. It isa common knowledge that some of|these have over-extended themselves. . | And the state is obligated to put the amount of THESE LOSSES back into the trust funds. ; é se © @ @& = __ It probably would be well for the taxpayers to know just i) what the ee is, but if a real, audit is made they eannot Held Prisoner, WPA expect a pretty picture. > a oa if an audit i made, they can expect additional taxee Chief Grants Demand |100«.” o restore the trust fur e position required in the contract 26—U)—Harold| ‘TULANE WIN with the government. sicln” federal Argent rae a cabo Pan krmet baler It probably would be.more pleasant to let the whole matter | SHO" was held pruoner in his offee |Snue tenes shamplecanip Betz Grift as it has for years.‘ And besides, an audit today might| wera workers, ba pean: Sarin Chsmaron show heavier losses than would be the case if an audit were é _ Made, say 10 years from now. i ; fire id Ti i eH Ht (mail eoot by lovers. It's tn the shape fw wtangie, =? '? “atineuleh __| ‘Twelve automobiles are stolen {ibe Aten ora hopes. Cee tine Hat teem tan Ane re “If congress dosen't get in ‘line quickly, patriots will with 4 perfect nomines for board. might dentist John gts poinon exactions ST % pe ee pO me: FE, SEE Hill et . & e 7