The Bismarck tribune. [volume] (Bismarck, N.D.) 1916-current, 1919-02-21

ing the last year.
Using League Name.
1t developed during the hearing be
fore the state banking board and the
blue sky commission on the Valley
City bank matter that the name OF the
league has been used In floating all
manner OF stOck-jobbing propositions.
Any league organizer or promoter, ap-
parently, has had little difficulty In
separating the farmer from his money
II he represented that his scheme was
approved by the league or endorsed
by Frazier, Lemke and other members
OF the state administration.
Governor Frazier and Attorney Gen
eral LANCER, however, declined to Join
with their Nonpartisan league asso-
citation on the state banking board.
Secretary Of State Tom Hall, in the
adoption OF resolutions denouncing
these alleged fake promoters.
Promoters Hit.
Promoters of league banks, league
newspapers, league lumber companies,
league oil companies, league coal
mines and scores of similar enterpris-
es which have, it is claimed, been
foisted on the farmers Of North Da-
kOta. were aassailed in the; following
resolutions introduced by Secretary
OF State Hall in the following res0lu-
tions: .5s 81 ;ss.4lss: ]. / aait VI
Whereas it has come to the notice
OF the members of the state banking
board that scores of promoters and
stock statesmen are travelling over the
state representing to prospective pslr-
chasers that the stock they are offer
ing is endorsed by the members of the
state banking board, the state admin
,istration or 10y the NOnpartisan league
or by some other political :associa-.
ton, and tiG324 -ibrol aStiftajs 'htitg9, ii
Whereas III has come to the notice
Of the members of the state banking
board that, because of these represent
ations tnd largely the claim that
such associations are fOstered and en-.
cOuraged by the state administration
or some political party or faction, and
Whereas many of the securities
offered are wholly speculative In ma
ture, having but little or no real merit
or value or feasibility of plan upon
which to base a practical going busi-
AICSo, dAu AIoAy Ol Ouk pcOHA0 oIO
vesting their money in such stock and
enterprises, and
Whereas such speculative securi-
ties are being sold in this state In vio-
lation Of what is known as our blue
sky law, therefore,
BE it resolved that the governor
as the chief executive and as the
president of the state banking board,
be requested to call the attention Of
all prosecuting attorneys in the state;
to the provisions of Y Chapter 81, Ses-
sion Laws 1915. and to section 1865, Of
the complied laws of 1873, and
BE 1t further resolved, that the
secretary of the state banking board
publish a notice of warning substan-
TALLY of the effect of this resolution
and in conformity thereto In each of
the daily newspapers of the state and
five other papers having the greatest
circulation, to the end that the pub
lie generally may be warned against
the Vaccinations and false representa-
tions made by the horde Of corpora
tion spawners now infesting our state,
and be 1t
Further resolved that the expense
of publishing these notices. one time
in each Of the aforementioned pub
locations, be paid out of the appropria-
ton for public printing, as set out in
Chapter A, session laws of 1917, upon
vouchers to be submitted by the state
auditing board for approval.
F.. (SlSueU) 5000.
Governor.
$3.50. ........
t Attorney General.
Secretary OF state.
Laneer Approves.
Attorney General LANCER Is said to
have stated at the conclusion OF the
interview with Jack Hastings that he
favored such resolutions, but that he
did not regard them drastic enough,
and 1t is understood that he will pre-
pare an even more critical arfa' gn-
naent of these corporation spawners,"
operating as league representatives.
at the expense of league farmers, for
sbmision at an early date.
It is q very conservative estimate
to state, says Mr.. Hall, that several
million dollars have been subscribed
since the league began operations In
this state to alleged league industrial
and commercial enterprises, using the
name Of the league to influence farm
ers to part with their money
The Home Lumber CO.
The Home Lumber CO. was N early
instance OF this kind. Whether with
the approval OF the company itseN or
otherwise, It 10 claimed thnt stuck
salesmen did represent TO peogpeeelvo
investors that Governor FfaSieE, At
tofney General Langer md otAoe u
leaguef1 were hack a0es 1h1se eoncogns,
- tCoatiAned q Fase TvA)