The evening times. [volume] (Grand Forks, N.D.) 1906-1914, 1911-02-27
it was not a regularly state d,

pository.
Under the June 50, 1908 report 1t
is shown that there were 224 state
repositories, SO Of which had no de-
posists and with 81. having excess de-
posits. In this repoJt the First Ma
tional bank of Fargo has no excess,
but the First National bank of Rug
by has a deposit Of $4,000 with only
"a $4,000 bond.
August /. 1909 there were 800 state
depositors, thirty-two5 Of which were
carrying excess balances, while on
Aug. 9, 1910, that nun1ber was reduc-
ed to two banks carrying excess de-
the two banks there was a total ex-
cess Of only $45 all told.
Excesses Criticised.
Criticism OF this plan Of maintain
ing excess balances is given by the
committee and it recommends that
stale moneys be collected through
some of the larger repositories and
; without delay distributed among
other repositories. During the past
year the committee states that the
| excess balances have not been car
ried any length of time.
| The Rugby and Barton situation
that arose when those two institu-
tions failed Is dealt with. The Rug
by bank, with q $4,000 bond, had
! $16,151.14 on hand. when It failed.
while the Barton hank carried $10,-
1924 at the time It went under. Up
to the present time dividends have
been declared which had reduced the
{vo tho D,,otx, Fo{l,,ra to 60 :
690.69 and in the Barton bank to ST.
522.87.
/ The task of making an examination
into the first portion of the eight
year period was hindered, the COM
mittee says, because of the method
,'of bookkeeping being such that the
task was difficult. No collection OF
| remittance ledger was found for q
portion Of that time The cash book
statement showed large balances on
hand III ONCE of the state treasurer
at times. and the committee declares
that there was no reason why such
balances should be maintained, and
|thst becAuse Of s,lsf large balance,
the stAtn4 leses- nteB6S Cash tenn
should n6 cleared daily. In tht
statements from the cash books it II
showed that in December, 1908, q to-
tai Of $241,000 was on hand in thu
Office. though, only for period o.
two days. Steady cash balances are
shown for number of months run
ming from 100000 to $100,000.,i >.
Work, of the board of auditors al
relating to the Office Of the treasurer
is also taken up. Under the stat,
law it is pointed out that it is q duty
of that board to make two examina
tions annually into the state treas
urer's office, but in the period II
lquestion only one such report is IL
the Office Of the governor, this ex
amination being made Jan. 10 and II
1910, being dated January Is, saml
year, and filed with the governor
April 2.
Report Lost.
In the minutes Of the board To-
July 20. 1907, Secretary Of Stat,
Blaisdell was asked by the board tt
make such an examination, and II
the minutes of Jan. 2, 1909, Blaisdel
lis quoted as having reported having
had the work done by w. A. Dillon
an expert accountant, the report o
such examination being filed with tn,
governor June 3, 1908. but when tn,
investigating committee made q re
quest Of the governors ONCE TO
such report, 1t was stated that the re
port was not on file at the presen
time.
The investigating committee ais,