The Wahpeton times. [volume] (Wahpeton, Richland County, Dakota [N.D.]) 1879-1919, 1914-10-08

eSvSA AASA 610SS44AASS
Power Of Legislatos
eEsoLvrloN ADOPTED oIvEs Ola
BUSINESS FIRM Mold ON
DAKOTA BANKS.
The state banking board, a vhtca
the governor II member, b lookinl
put for the interests Of Big Business
and the railroads. This 70 ono Of the
charges preferred against the Bust
NESS ADMINISTRATION By Frank
D. Hsllstrom. Democratic nominee fol
governor Of North Dakota.
The banking board Of North Dakota
Il composed Of the governor, the SEQ.
rotary Of state and the attorney gen.
lral. On May 10. 1919. Il adopted the
following resolution governing applt
cations for charters tor new banks. II
will be we'll for every voter this No
vember to read carefully this resolu
lion before election day. It reads:
Whereas. This board 10 Of the opin,
ion that it is against the best interests
Of the people OF the state Of North
Dakota or Of any community within
the state to grant charters for bank.
Ing corporations IN places where the
population and business are insult.
cient' to warrant the establishment Of
, bank, or where the banking business
Is already sufficiently represented, and
Whereas. We believe It will assist
In the upbuilding Of safe and conserva.
tive banking conditions by preventing
the organisation Of banks when de.
mand or necessity therefor u not ap,
parent. and
Whereas. Further. The bankins
board will hereafter require q state.
meat from known and reputable citt
Gems OF the state, certifying to the
character and financial standing Of ap.
plicants for bank charters. Nov. There
fore, Be It
Resolved. That the secretary Of state
be and is hereby instructed to submit
applications received after this date
for charters for any banking corpora.
ton to this board for it's approval be.
fore issuing such charter, and, be II
further
Resolved. That hereafter this board
will refuse to grant charters when Il
is convinced that the new bank is not
needed in the locality, and that there
Is no reason for its existence. and ba
It further
Resolved. That II this board is in
doubt as to the propriety Of approving
tho application. It will ask the state
examiner or the deputy state examiner
Of that particular district to 20 to the
place and make personal investiga,
tion. and he shall make his report ia
this board, and be II further
Resolved, That q charge Of SO pey
day and hotel and travelling expenses
shall be charged for such investiga.
ton. This resolution shall ALSO APP.
PLY to ALL APPLICANTS for BANK
CHARTERS ALONG PROJECTED
RAILROAD LINES"
mo one," said Mr. Hellstrom In
opening the campaign this year, "can
question the sagacity Of the BUSL
NESS ADMINISTRATION, especially
when official acts will protect its PRi.
VATE INTERESTS.
1T is notorious fact" continued
Mr.. Hellstrom, that FEW INDIVID.
UALS have organized themselves in.
to close corporation that gets ad,
vance information from the railroads
relative to the extension Of their lines
end future location Of townsites. Ap.
plications are then made to the secre.
fary of state for bank charters. and
the possessor Of charter squats on
the townsite and the banking board
arbitrarily keeps, out competition IN
the banking business when the rail.
road and townsite actually arrive. Il
fs very convenient to a BUSINESS AID.
M1NISTRATION, especially when you
have POWERFUL FINANCIAL CON.
NECTlONS. There is yet to be re.
corded one single instance where q
bank has failed because OF too stroni
competition
!; This is the flrst time in the history
OF North Dakota that its governor has
taken upon himself the power r. acf
IN legislative capacity. The people
o. North Dakota elect governor q
entor.- laws, not to make them.
No governor prior to this time has
ever attempted to assume the powers
of the state legislature and make laws.
which directly and so plainly serve his
own interests. This is one Of the biz
charges preferred against the BUsk
NESS ADMINISTRATION by Mr.,
Hellstrom.
What are the powerful banking con.
nections Of the BUSINESS ADMINS.
TRATION? How many banks in North
Dakota is the state executive person.
ally interested in, II he does not own
solely? These two questions would
bear close investigation by the voters
before they vote this fall. And after
looking 1t up and satisfying himself
that 1t exceeds more than forty i've,
each voter should see why this resolu.
ton was passed, for the extension
Of the BUSINESS ADMINISTRA,
mons private business. ats - -.
THE JokE-Aeovr LEWIS. g.,
r. 8. Lewis. chairman of the state
board Of control. has resigned as treas.
arer OF the Republican state central
committee. Reason for this, Mr.. Levi
lays. was 30 he would not yiolata =
Itate law which prohibits a membe1.
81 the penal and charitable board, a.