The producers news. [volume] (Plentywood, Mont.) 1918-1937, 1919-11-14
BOND HOUSES
DELAY TAKING
n. D. BONDS
Move Looks Like Outside Effort
to Hold Up the Farmer Pro-
gram.


privilege represented in the or
ganized farmers movement,
strike back. They attempt to
cast reflections upon the credit
of the state of North Dakota.
They hope, and they plan,
that this state, than whose cred
it by every point of the rules
investors themselves have laid
down there is none better, will
have trouble in financing the
new states industries.
The industrial commission
the other day observed a most
striking demonstration of the
will to sabotage which. animates
the money trust.
Two financial houses which
had contracted to purchase the
states bonds-houses known to
be among the greatest in the
country handling public corpor-
alton loan+declined to under
write the 100000 of the state
issue which they had agreed to
take. Of this 100000, S2,00O,-
900 was in capital stock bonds
of the Bank of North Dakota !;
the other 81, 100000 was of the
farm loan series bonds.
The bond houses pointed to
an opinion of their attorney. Or
rather, they pointed to the fact
that "he refused to give any
consideration" to North Dakota
bonds. This, they said, was to
be pending the outcome of the
AZ taxpayers I. V. A. suit,
which, meeting defeat in the
federal court, they carried to
the United States supreme
court on appeal.
Shows Nationwide Move
Thus the alignment of the ma
tional forces fighting the Non
partisan league becomes more
open. The purpose of the AZ
taxpayers suit, instituted be-
fore the referendum in North
Dakota last June, becomes obvi-
Gus. It takes a long time for a
case to be decided in the United
States supreme court. And in
line with the obstructionist tao
tics that have been practiced
against the farmer administra-
ton from every angle, this adds
another, if only temporary, de-
lay which the enemies of the
League are hoping will break
down the morale of the people
and convince them it. is hope
less for a state to attempt to
compete with the profteer and
the extortionist.
Coupled with the decision of
the attorney for the bond
houses, who things so little of
the sovereign will of the people
that he refuses to consider it, is
the attempt of Attorney Gener-
al LANCER and Tom Hall, secre-
tary of state, to wreck the Scan
dinavian-American bank in Far
go. And with them was associ-
ated Carl Kositzky, state audi
tor, who attempt to make an il
legal examination of the Bank
of North Dakota.
The state supreme court has
ousted LANCER and his crew
from the Scandinavian-Ameri-
can bank. Kositzky was sat up
on by a district court in Bis
marck, which ruled that he had
no iota of law on which to base
his pretended examination" of
the bank.
State Prepared
But the administration and
the Bank of North Dakota are
amply armed to parry this blow
below the belt. The state bank
has millions in resources,
thanks to it's mobilization of all
public funds in the state. Real
estate loans will be made with
out pause and as scheduled be-
fore the so-called rejection of
the bonds. Work on the state
mills and elevators will 60 along
unhampered. The only differ
ence is that, temporarily, the
state will be sufficient unto it.
self in financing these affairs of
the people. Mere good business
judgment had indicated that
outside capital should be
brought in for development
along the cooperative lines de-
signed for the benefit of the
public. That same policy will
be pursued.
If the money trust think they
have struck a serious blow, they
have another think coming.
Plans already are under way by
which the state, if necessary,