The Fargo forum and daily republican. [volume] (Fargo, N.D.) 1894-1957, 1918-08-05
DEFENSE COUNCIL
TAKES STEPS TO.
REMOVE MENACE.
TO STATE CREDIT.
Limited Moratorium On
Agricultural Implements
Modified Saturday


Bismarck, N. D.. Aug. 5.-The
council of defense following a con-
ference with q special committee of
the North Dakota Bankers associa-
ton Saturday modified it's limited
moratorium on agricultural imple-
ert and livestock liabilities to such
an extent as to remove any menace
to the good credit Of North Dakota.
The resolution recites that:
Whereas it has been reported to the
Bankers association Of this state
that foreign investors are exhibiting
unwillingness to loan moneys on
securities affected by the morator-
ium act in It's present form, and
whereas it is deemed proper to fac
ilitate in every manner possible the
financing of the farmers of the state
in the harvesting, threshing and
marketing OF the present crop. and
whereas the Bankers association Of
this state, through its executive COM
mittee, having expressed to this COM
mittee it's desire and wish to CO.
operate with the state council Of de-
fense in depressing any act Of fore
closure that will serve to embarrass
or lessen the harvesting, threshing
or marketing Of the present crops in
this state, and will also cooperate
with this council Of defense in re-
pressing oppressive and vicious
foreclosures Of chattel securities by
any bank in this state, If the said
moratorium act be amended In a
manner hereinafter stated, therefore
be 1t resolved that the act Of this
council of defense enacted July 9,
1918, known as the moratorium act
No. as, be and the same Is herewith
modified and re-enacted so as to read
as follows:
whereas 1t is vitality essential
that every effort be directed toward
the production OF food and the con-
serving Of the same for the purpose
OF aiding and assisting our nation
, in every way possible, and whereas
every protection Of this state should
be thrown around the Instrumental
tiles necessary to secure and insure
the largest crop production and the
harvesting Of such crop during the
period Of the war, and whereas ev-
ery protection of this state should be
utilized to assist h bringing the
productivity of the state to its high
est point, therefore 1t is herewith
'Resolved and ordered that no
proceedings by action, advertisement
or otherwise shall be instituted, had
or taken in this state for the fore
closure of a chattel mortgage or 9TH
err lien upon farm machinery, farm
horses or other personal prop
erty owned or used by any person
owningy renting or having posses
sion Of land whereon there are crops
to be seeded, harvested or threshed,
which PERSONAL property Is neces-
saFy or needed in seeding, harvest
ing or threshing said crops until the
first day of October, 1918; nor shall
any foreclosure of chattel mort
gage or other lid1l be instituted, had
or taken upon the livestock Of any
kind which is commonly used for
food or which produced food until
such time that said livestock shall be
in good marketable condition, until
on or after the 18th day of August,
1918, unless the person so holding
such lien shall first make application
to court of proper Jurisdiction and
unless upon hearing had upon, such
application before such court upon
notice to the mortgagor as the court
may prescribe the court shall order
that it be necessary and equitable
upon the facts submitted that the
foreclosure Of such chattel mortgage
or other Yien be had.
at is herewith further ordered
that any action taken contrary to the
provision Of this order shall be deem
ed invalid and illegal and that the
same does serve to hinder and impair
the governmental war agencies now
devoted and engaged in securing the
greatest food production possible"
The original moratorium act as
passed by the council of defense pro-
vided that no such action as pre-
scribed on the foreclosure Of mort
cages might be taken until March,
1918, and the result was an ines
timabIe damage to tht credit Of
North Dakota the nation over.
Csnsure Themselves.
Resolutions censoring the press
for the publication of false or mis-
leading reports tending to injure the
credit OF North Dakota were adopt
ed for the executive committee of
the Bankers association in confer
enct here with the state council or
defense Saturday.
The story to which these resolu-
tions specifically refer was sent out
by John B. Brown, assistant secre-
tary of the state council of defense,
to The Courier News, at Fargo,
league daily newspaper organ, and
was carried by the Associated Press
and other news agencies upon auth
ority given by the member Of the
council OF deTense VINO dEa5kea the
order providing for the taking over
of all elevators in the state and their
operation by the council Of defense.
This order was delivered to The
tribune and to the local correspon-
dent OF the Associated Press by a
member of the council Of defense,
and the order was published locally
and sent out over the wire verbatim.
The following day the authenticity Of
the order was denied by Assistant
Secretary John B. Brown, who had
already used the story in his own
newspaper, The Courier-News, and
this denial was given the same pub
iicity in the independent press of the
state and the twin cities as had been
given the original order as reported
passed by the council.