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.

Move Looks Like Outside Effort
to Hold Up the Farmer Pro-
gram.
Bismarck, N. D.-Wall Street
and the money trust, long awak-
ened to the danger to special
privilege represented in the or
qanized 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 Il 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 }oans--dcclined to under
write the $4,000: 900 of the state
issue which they had agreed to
take. OF this $4,000, 900, $1,000
900 WAS in capital stock bonds
of the Bank Of North Dakota;
the other 81 100000 was Of the
farr, loan series bonds.
The bond houses, pointed t"
an opinion Of their attorney. Or
rather. they pointed to the fact
that che refused to give any
consideration" to North Dakota
bonds. This. they sad, Was. to
he pending the outconc Of the
AZ taxpayers |. 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 Nom
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. 1t takes a long time for a
case to be decided in the United
States supreme court. And in
line with the obstructionist tao
ties 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 state to attempt tt
compete with the profiteer anc
the eXtortionist.
Coupled with the decision Of
the attorney for the bone
houses, who things so little o.
the sovereign will of the people
that he refuses to consider it, i:
the attempt of Attorney Gencr
al LANCER and Tom Hall, secre
tary of state, to wreck the Scan
Observation-Disclosures bank in Far
go. And with thea was associ
ated Carl NnsitzEy, state audi
tor. who attempt to make an il
legal examination Of the Blnl
Of North Dakota.
The state supreme court ha
uuStcd Larger and his Grey
from the Scandinavian-Amcri
can hank. NcsitZky was sat w
on by u district court in Bis
marcl,, which ruled that he hi
no iotA Of law on which to bas
his pretended Denomination q
the bank.
State Prepared
But the administration an
tic B;lnl; Of North Dakota al.
amply n'r0nd to parry this blo>
below TIE belt. Tie state ban
has millions ir resource!
thanks to it's mobilization of Il
public funds in the state. Re:
estate loans will be ma(!u with
out pause and as scheduled be
fore the Sn-cai!ed rejection {
the bonds. Work on the stat
mills and elevators will 90 alol,
unhampered. The only diffe
ence is that, temporarily. tt
state will be sufficient unto i
self in financing these affairs
the people. Mere good busine:
Judgment had indicated tn;
outside capital should !
brought in fer developmel
along the cooperative lines d