The Oakes times. [volume] (Oakes, N.D.) 1906-current, 1919-03-06
WITH HELP OF rowNLEY
PUT BIG ONE ACROSS
Made Profits Going and Coming OF
Barnes County Farmers

Made Profits Going and Coming OF
Barnes County Farmers
John j. Hastings and Thomas Allen
Box. who have been the spotlight rep
resentatives Of the league in financial
matters seems to have made a muss
of things in working their graft at
Valley City. Something must have
gone wrong as the deal finally reach
ed the office of Attorney General
LANCER, and he evidently started out
to get to the bottom of the deal that
netted the promoters, as reported,
about s57,OOO.OO.
In his sworn testimony before
LANCER, Hastings says that he was
sent to Valley City by A. G Townley
to organize a bank as the Townley
financial affairs needed u bank at that
place. At the same time that Hast
ings was giving this sworn testimony
to LANCER the mails We're carrying
the issue of the State Leader to it's
readers and that issue contains
signed statement from Townley to the
effect that he is not in the banking
business and no banks are being or
ganized under the direction of the
league. etc. 1t is well known over the
entire state that Hastings and Box
have been promoting banks on the
representation that they were direct
ed by the league. Later news stated
that on account of the graft exposure
at Valley City that Townley had de-
manded Hastings resignation. If Hast
ings was not working under Townley's
orders we don't just understand what
he would have to resign from and
will leave that to be determined later.
At any rate Hastings and Box had
organized bank at Valley City and
decided to buy the American Ex-
change Bank. Before putting this
deal across. Hasting had borrowed
money from the American Exchange
Bank and had also become a stock
holder. He had also arranged for his
commission ON the deal and double
dealt the whole outfit by being both
buyer and seller with double pay. The
bank building purchased was figured
at a value of $4,000 on the sale but
went to the new organization at
$4,000 making profit of $4,000.
which figured with the double COM
missions and the aid Of Box and their
dummy the Federal Development
Company" the profits in both selling
and buying appear to be $4,000.
which is a very nice stroke Of bust
ness for such promoters.
The change in the affairs and
funds of the bank impaired the insti-
tuition and as near as we can under
stand the State Examiner and others
stepped in and insisted that United
Consumers Stores paper and notes of
the promoters be taken out and cash
put in their place. This is reported as
having been done
1t is well known that Hastings ana
Box have been doing some great
team work" in banking matters Of
late and this episode will probably re-
suit in their retirement. Prior to
getting into the banking game Box
was chairman of the State Council Of
Defense and drew his salary for
every calendar day and was out of the
state a good deal of the time. His
expense bills were audited and it was
found that while serving in this patri-
otic capacity he had charged $3.50
for single meal.
They are the two gentlemen that
have always been spoken of by both
league and anti-league papers as be-
ing the ones most likely to direct the
affairs of the Bank of North Dakota.
Their work at Valley City may pre-
vent them being placed in control Of
the bank but at that they are as hon
orable as the fellows that drafted that
bank bill and forced its passage
through the legislature with avenues
galore to permit the looting of the
state funds. These late developments
show that the promoters of the whole
thing had the right kind of fellows in
sight to handle the loot.