The Nonpartisan Leader Newspaper, July 21, 1919, Page 14

ADVERTISEMENTS - Lighting the - Trenches ‘A'MMIL"/.‘(' PRI During the recent war the world came into a full and com- plete understanding of the value of efficient and comprehensive organization on the part of big business. el o One phase of the aid that the Standard Oil Company (Indiana) was able to render isinteresting. The U. S. Government called on the Company for candles, and in an incred- ibly short space of time the initial ship- ment was made. . | In all, 285,000,000 candles were shipped from Whiting, Indiana, to France— about 85 candles for every man in the United States Uniform. : The Standard Qil Company makes can- dles from the by-products of crude oil. Besides serving a most useful and nec- essary purpose in themselves, the man- ufacture of candles enables the Com- pany to keep down the manufacturing cost of gasoline, so that you may run ¥3ulr car without great expense for el. ] : Thisis only a siggle and minor phase of the part played by the Company in helping to win the war, but it serves to illustrate the usefulness of the Com- pany as a public servant, and the ben- efits accruing to the world at large from Standard Oil Company (Indiana) operations. ‘Standard Oil Company : (Indiana) : 910 S. Michigan Avenue, Chicago, IlL - 1781 Bismarck Bureau, Nonpartisan Leader. N THE day that the $2,000,000 capital stock of the Bank of North Dakota was delivered to it, signed by the gover- nor, state treasurer and secretary of state, the bank was ready to do business. Things were de- layed until the secretary of state signed the bonds, but when he com- pleted the task, after being ordered to do so by the supreme court, every- thing was in working order. The Bank of the People was ready to operate. - For the past two months 15 clerks have been working getting the bank ready for business. Now there are about 20 people busily going at their tasks in this new state enterprise. The biggest thing that the bank has thus far accomplished is that it is ready to perform the functions laid down for it by the act of the leg- islature creating it. That has not been an easy task. The rooms of the building which was leased for it had to be remodeled and cleaned, the fur- niture had to be bought outside of this city and had to be waited for, forms must be drawn up and numberless preliminary jobs had to be done.. On July 12 the Bank of North Da- kota was to begin calling in all ‘the public funds of the state. This will be done by districts and separate funds, else the office force would be swamped with work. The first moneys to be called will be the township, munici- pal and school of cities, towns and vil- lages, but not state and county funds . nor funds of state penal, educational and industrial institutions. In 12 days the funds of the 12 judicial districts will be secured. L0 The Bank of North Dakota already has over $20,000,000 in deposits. The public money called for will not be kept in Bismarck. When a county bank that he has' $100,000 in his charge that the bank law requires him to turn over to the Bank of North Dakota, the officials of the bank will credit that treasurer with the amount on the list of their depositors, and, without the money leaving the neigh- borhood, redeposit it ‘with its deposi- tory bank in that vicinity. If, as is the usual thing, the money is in a half dozen or so banks, it is expected that the money will not be taken from any one bank. - P PRIVATE BANKS MAY BE “DEPOSITORY BANKS” By an order of the industrial com- mission written at its recent meeting, all private institutions in the state which take out an account with the state bank are designated “depository banks.” This term is analogous to federal reserve system. Banks outside the state with which the Bank of North Dakota may do business will be termed “correspond- ent banks.” It will be necessary for the state bank to have one or two banks in other states with which it may rediscount, to which it may send foreign clearances, and with which it may arrange to reach eastern finan- cial centers in financing crop move- ‘ments. Already the bank has received ap- plications from 180 persons for farm loans. - Farmers of the state are anxiously awaiting the time when the “bank will be able to loan them the money they: desire, for they realize the vast benefits they will derive from | the state -institution. Every day’s treasurer, for instance, reports to the ' the term “member bank” used by the . new. applications, and . Farmers’ Bulletin 927 » inquiring about the farm loans. Though no campaign for their sale - 3 People’s Bank Calls in Public Funds =" North Dakota State Enterprise Now Ready to Perform - Its Functions—Many Ask Farm Loans : each day some farmer visits the office has yet been started, over $80,000 . worth of bonds of the Bank of North. &' \¢: Dakota have been sold. This sum has < < gf come in small amounts from farmers - and townspeople in the state. The bank is just ready to send out fo the i\ banks of the state inquiries about the amount of its bonds that each private institution will take. Only $500,000 of the $2,000,000 issue will be disposed of -in North Dakota. The remainder will be sold in other states to bring money into the state. i North Dakotans can buy their own liberty bonds on the easy payment plan. Bank of North Dakota capital stock can be secured by the popular “go - much - down, so-much-a-month” system. PARTIAL PAYMENT PLAN ~SOON TO BE IN EFFECT After an informal conference with - the industrial commission the officials of the bank announced that the par- tial payment plan will be in effect as soon as the application blanks are re- ceived from the printer. A number of prospective purchasers had asked for the privilege of extending their bond purchases over a period of months. It was in answer to their request and to give every one an opportunity to - own some stock in the institution that the new plan was made. Almost all the furniture has already been received by the bank and placed in the office. The equipment, slow in coming, has arrived. The entire bond issue is now in the new safe of the. bank, which is the largest and strongest in the state of North Dakota. The safe has been placed in the new fireproof vault ° which was ready for the safe when it arrived. Not much cash will be kept in either the safe or the vault, as the bank will not handle much of it. Though the officials have persistent- ly stated that the bank did not de- sire individual deposits, people come in almost daily with money which they wish to leave in the state’s institution. Biggest of all the preliminary tasks of those working in the bank was the preparation of the vast amount of blank forms. Director General F. W. Cathro has handled most of the work, and he states that the bank now has. all the forms it will need for the pres- ent. : This new people’s institution ha: been managed efficiently thus far, and is ready to begin doing its duty for the citizens of the state of North Dakota. ICELESS REFRIGERATOR Milk, eggs, butter and other food products can be kept at a temperature of 56 degrees Fahrenheit by the use of an iceless refrigerator. The cool- ing ‘effect of the iceless refrigerator depends on evaporating water. An open framework of shelves is sur- rounded by a cloth kept moist by means of a large pan of water on top, from which cloth wicks extend down over the sides. Water is drawn by capillary attraction through the wicks and saturates the cover. The greater the evaporation the lower the temperature secured, therefore the refrigerator works best when rapid evaporation takes place. In order to secure this' a good current of air is essential. The refrigerator must: be kept in the shade if low temperature is to be maintained. ' For directions for making an iceless refrigerator .write to Extension Division, North ‘Dakota S T TR T Agricultural . College, = for e ~