Grand Forks herald. [volume] (Grand Forks, N.D.) 1916-1955, 1919-10-11
ASKED TO HELP
BANKERS SAVE
I THE INSTITUTION
Banks X Funds Reduced BY
Aiding League Enter
prises, Say Letters.
HASTINGS AND BOX
ARE REFERRED TO
President and Cashier Of
"a Bank Were Afraid
of Trouble.

sidelights, on the manner in which A.
e. Townley directs the handling of the
state funds of North Dakota, and also
bn' his relations with the Scandinavia
aneAmerican bank at Fargo, are given
In two letters made public today.
The letters are apparently from the
! president and cashier of the Scandi-
navian-American bank. In them Mr..
Townley is thanked for the way in
which he has had the state funds de-
posted in the bank and desire for
further favors along that line is more
than hinted at.
AS a gentle jog to Mr.. Townley's
gratitude, tactful reference is made to
the services rendered by the bank to
the Consumers store Co. and other
league enterprises, and it is almost
tearfully pointed out that the gener-
osity of the bank In this matter has
reduced it's funds close to the danger
mark. 4f
incidentally passing reference is
made to some of the financial stunts
Of Messrs. Thomas Allen Box and
John Hastings, erstwhile financial
aids Of Mr.. .Townley, and his followers.
The letters follow:
The Presidents Letter.
.s$ April 16, 1919.
Mr.. A. c. Townley,
st. Paul, MINI.
Dear Mr.. Townley:
+ Icalled at the hotel to see you to-
day but the clerk informed me that
you had left for st. Paul.
4 1 wanted to tell you that we have
received the $4,000 from the state
treasurer. but they have drawn sso.-
900, SO we now have about $4,000.
Also wanted to inform you that as yet
we have had no settlement with the
Hacerty bunch, who owe US an ag-
Sregate sum Of $4,000 1 have writ
ten them today, and enclose copy
Of the letter herewith. T. took 1T up
with Einar Heidle, attorney in Min
nAApplis. and asked him to naketsonne
investigation on the quiet, preparatory
want to start until we. have first made
Investigation. that we want an
amicable fsettlefne mt FIRST, If possible.
As; far as can understand the delay
Is In the settlement with Mr.. Hastings.
. Mr. Hagerty claims that he and Box
haye drawn money on the company
+ by himself and also by Mr.. Box. In
fact, Mr. Hagerty told me that the
books Of the company that was kept
made entries that he had drawn
checks and used the money for his
own personal use, and Mr.. Hagerty
claims that the aggregate of this
amounts to about $4,000. Mr.. Hager-
ty intimated to me that Mr.. Hastings,
being an officer OF this bank and an
, ohhcer in their company, he thought
they were justified in, the position they
were taking, and that the bank should
assist them in the settlement with Mr..
Hastings. Under the circumstances I
am giving, you this information be-
cause think it is Of sufficient import
Ance for you to know, and there is a
large amount of money invested in 1t
and also that we are badly in need of
available funds at this time.
Work to Convert Papers
We. are working hard to convert pa
per so we can have available sufficient
to meet our demand, and we have
done well to meet it at all, when you
consider our deposits have slumped
. 100000 in a month and a half, the
principal accounts, affected being. the
bank accounts, which are naturally
dwandling down on account of their
heavy local demand We are relying
on you for assistance and cooperation
Ia carrying the burden. We appreci-
ate what you have already done in
directing funds and also the encour.
agement and hope, that you bring to
worry. but are in position and have
matters in hand where you can render
assistance and leave us comfortable
trust you will devote q part OF
your valuable time now to bridge
over this dangerous period. that we
may; not fear embarrassment and dis.
grace.
Trusting you will be successful In
your noble work that you are now
engaged in, lifting humanity into q
higher sphere Of culture and enlight-
eminent, which results in life OF
comfort enjoyment and peace. beg
70 remain
..i Very truly yours. ~.
t'$, President.
Ns ~ M. 1rL:..,raI.,-,.. = Ia. r