The Bottineau courant. (Bottineau, Bottineau County, N.D.) 1895-1929, 1919-11-06
MUCH MONEY NJ TO
FARGO BANK
DEPOSITS TOTALU1NG $4,000
MADE IN BANK IN FOUR
DAYS

The resolution passed by the big
farmer mass meeting in Fargo to
make the Scandinavian American bank
the leading farmer bank of the state
and the biggest bank outside the Bank
of North Dakota, is being carried
out with a vim and success that could
be possible only in the farmers move
ment. Deposits in the Scandinavian
American bank averaged better than
$4,000 per day the first four days
after the opening. The total deposits
brought in by the farmers and others
Saturday, Monday, Tuesday and We'd
nesday amounted to $162,952.40, ac-
cording to the figures given out by
President Hagen of the bank.
Scarcely less significant Of the
strength of this movement of the
farmers to build up system of their
own banks in the Fargo institution, is
the way they are redeeming their
post-dated checks The record since
the opening of the bank is crushing
answer to the lie and insult of LANCER
and Hall in their "official" proclama-
tion which stated that this paper was
"worthless" or not worth more than
so cents on the dollar.
POst-dated Checks Redeemed
The sum of $4,000 in post-dated
checks was due and collectible by the
Scandinavian-American bank October
l. At that time this sum could not be
collected because LANCER and Hall had
closed the bank and had it in the hands
of their receiver" About week ago
the bank began collection on this COL
lateral. In seven working days $21,-
900 Of this $4,000 worth of worth
less, paper has been collected.
+ It is realized that big business has
just begun to fight. That the amazing
success of the state flour mill, state
insurance and the state bank has
aroused big business as nothing has
ever done before. That big business
realizes that it will be exposed and
will lose its hold over the people if
the League is not destroyed and these
state Industries blotted out. Their at
tack will undoubtedly % be largely
against the financial pillars Of the or
ganizerd farmers movement. If they
can batter. these pillars down, they be-
lieve that the Whole farmers move
nent will fall out and tie League pre-,
gram be wiped out -
Big Deposits Rolling In
There is only one way the farmers
can offset this scheme. They can sup
port their own and friendly banks. It
is felt that the Scandinavian American
bank is the natural center of such a
system and that upon the success of
the present movement to make it a big
impregnable institution largely de-
pends the success of the whole system
of farmer and friendly banks. That is
why the farmers conversant with this
situation are bringing their deposits
in to make the Fargo bank the biggest
institution of it's kind in the state.
Many farmers who are transferring
their deposits to the Scandinavian
American bank in this plan to
strengthen and secure their movement
have expressed their feelings in this
way:
"With our united support our own
banks will be the safest banks in the
state. Why then should we continue
to patronize banks that are hostile
and that in many instances entered in
to the plot to destroy our bank and our
movement recently? BY withdrawing
our deposits from these banks and
supporting our own and friendly
banks, especially our leading bank and
the one that was attacked, we kill two
birds with one stone; we weaken the
enemy that is seeking with our own
money to destroy US, and we build up
friendly institutions and put our
movement on a foundation where It
cannot be destroyed" ~