Bismarck daily tribune. [volume] (Bismarck, Dakota [N.D.]) 1881-1916, 1916-09-02
CAPITAL MAKES
STRONG BID FOR
NEW LAND BANK
G. L. Young Submits Brief to the
Federal Board at Fargo
Yesterday.
s.
BISMARCK CENTRAL TO
DISTRICT ADVOCATED
Fargo Seeks to Have Minnesota
Made Part of the Proposed
Territory.

C. L. Young, president of the Com
mercial club; P. E. Byrne and Ralph
Ward returned last evening from
Fargo, where they presented Bis
marck's bid for the farm loan bank
before the federal farm loan board,
which was in session there all day.
The members of the board passed
through Bismarck last evening on a
private car attached to NO. /, enroute
for Helena, Mont, where the next
hearing will be held.
Mr.. Young presented a written
brief and elaborate exhibits in sup
port of Bismarck's claim for consid-
Grafton. bismarck and Minot vup-
porters asked the inclusion Of North
Dakota, South Dakota, and Montana
in one district. This would make
Bismarck central and an appropriate
place for the new institution.
Fargo, however, advocated the Gre
alton of Minnesota, North and South
Dakota in one district with Fargo as
the home of the new farm loan bank.
If Minnesota is included most pre-
dict the bank will go to st. Paul.
Mr.. Young in supporting his con-
tentions for district comprising
North and South Dakota, Montana
and Wyoming, declared that econom.
ic conditions we're similar in this Sec
ton, that the agricultural develop
ment in general was the same and
that the district is generally served
by the same railroad facilities.
He summed up the reasons why
Bismarck should be located, as fol-
lows:
Bismarck is the -cenler Of such a
district as has been mentioned.
* Increasing Demand.
''It is the experience of the state
in loaning it's public institution and
school funds that there Is an increas.
ing demand in the western part Of
the state as compared with the east.
ern part.
"There are adequate railroad facil-
tiles to bring Bismarck in touch with
all parts of the district.
"There are nearly one-half million
acres of public lands unentered, as
shown by Circular No. 420 of the de-
partment of the interior. This is
nearly all in the western part of the
state.
Much Vacant Land.
"There are still l,641 ,697 acres Of
school and institution lands awaiting
the settler and large part of these
are in the western part of the state.
"The conditions as to the settle
ment of public lands are the same in
Montana. in which there are unenter-
ed, as shown by the foregoing report,
100000 acres of public lands.
"The same is the situation in Wyo-
ming, where there are 30,000,000
acres.
Interest Rates.
while the interest rates through
out the district are high as compared
with the rates in other sections Of
the United States, the percentage
paid for interest and commissions in
creased as one moves westward in
the district.
''The newer section of the district
we have proposed is in the western
parts Of North Dakota, South Dakota
and in. eastern Montana and Wyo-
ming. The area of development in
these sections has just begun. The
demand for capital is therefore great.
''All of the territory mentioned is
within a radius of 400 miles of Bis.
marck.
Has the Advantage.
''Bismarck has the advantage of be-
ing the state capital. In the office
of the state engineer are assembled
the records of the now abandoned sur
veyor generals Office, which would be
of incalculable value in determining
the desirability of lands as security.
Bismarck is rapidly developing
and is a distributing center for a
large part of this area and especially
that portion of it in which the de-
mand for capital and farm loans is
greatest.
"The population of western North
Dakota has increased with great rap
idity during the past two decades.
A similar condition prevails as to
the increase of population in eastern
Montana and western South Dakota.
NATURALLY the demand for farm