Emmons County record. [volume] (Williamsport, D.T. [i.e. N.D.]) 1884-current, 1919-10-09
Nonpartisan Loans Total Three Quar-
ters Of a Million---State Funds
. Involved

have succeeded in negotiating hun
dreds Of thousands Of dollars in loans
with other institutions. It was only
recently that the league attempted to
borrow more than a half million dol
lars in loans Of $1,000 from a large
majority Of the state banks Of North
Dakota shortly after the league adj
ministration secured control of all pub
lie funds through the agency Of the
Bank of North Dakota act.
In addition to the milionSAof dollars
collected by the leaguers in cash, it is
quite evident that they owe couple
Of millions more. How many banks
will be seriously hit in the wind-up
when this high finance game comes to
its logical end, it is impossible to say.
Emons county banks generally are
free from trouble from this source.
Practically all banks have refused
such loans. a
Shortly before the referendum elec-
tion in June, an attempt was made to
secure q loan from one Of the Hazel
ton banks on the Haxelton Consumers
Store. It is said that certificates in
the amount Of $4,000 had already
been sold in that institution, but taddi-
tional money was needed. Sen. C. A.
Ward appeared with the Consumers
Store ofials in making personal appli-
cation for this loan. The loan was
turned. down at the time, hut it is said
that another bank afterwards made
such . Loan, d
Notes and Postdatsd checks Collatersl
Notes and postdated checks given by
farmers in the past have been w.ed an
practically the only collateral for the
mamoth loans secured from the Scan
dinavian American Bank. Our read
ers may appreciate the value Of this
paper from their own knowledge.
There is not a neighborhood but has
many farmers who gave such paper
and who have refused fatty to pay
either checks or notes. And only.
through the payment of same in g.
mounts ranging fyom $16 to 500 can
these huge loans be liquidated and the
wiping out Of the state guaranty fund
prevented.
League newspapers and officials are
devoting little space to trying to ex-
plain these mamoth loans, and are
simply bowling the usual cry Of "ene-
mics Of the farmers" The Courier
News, one Of those indebted TO the
bank has been devoting pages to tell
inig Whist the league win do to LANCER
and Hall as members Of the Banking
Board for allowing these conditions
| to become public property.
Gov. Frazier is q member Of the
state banking board. and voted against
closing the Fargo institution even at
lter the report Of the bank examiners
had been laid before him. Efforts
since to secure statement from the
governor as to his action have been
unsuccessful. Frazier refuses to talk.
In connection with the governors
attitude at this time. another matter
lis Of deep significance. Some months
aeo Mgr. Waters attempted TO collect
$65 from the state for running his
own automobile ont from MINNEAPOLIS
/ At meeting of the auditing board
some time since. the governor went
after Auditor Kositzkv for making
the Waters attempt public. The gov
ernor's statement in substance was as
follows: "You have no business show
ne that voucher around" Kositxky
ist once resented the governors atti-
tude that such attempts TO filch. mon
/ ev from the state treasury should be
ssk~nt dark" and some hot words en-
sued.
| And now Judge Robinson has come
to the support Of Kositskv's attitude
a. shown in the Robinson letter print.
ed elsewhere in this issue.
!! For weeks there have been reports
4 that the LEAGUE bosses were tYvine Il
Il Acourt noses" amo7r their senatorial
menbe-r 70 nee whether or not the,
ronh mske er impeachmeSat nrnceed.
;ner rtiek aesinst LANCER. Hall ant
i Kositxkv. In the face " the gove~'
& noF,s statement 10 Kositxlv. as w~l
~ his Labor Dav sneecch and othel
J similar msttess. X dees not seem I'm
J prssabA tAat npaaeAnsnts might ~