davidaulloa/AmericanStories huggingface dataset:
The Hope pioneer. [volume] (Hope, N.D.) 1882-1964, 1919-10-16
LOANS TO LEAGUE and THREE SUBSIDIARIES
WERE MADE AT RATE OF $4,000 A MONTH

banks excess loans in tho April re-
port, and insisted to the state exam
liner that they should be reduced
and the practice of making lsuAh
loans should be discouraged.
In dealing with the loans, except in
Il few instances where the debtors
are public institutions or are so
connected with the political organt-
zItion that has been such a big fac
tor in bringing the hank to its pres
cnt condition, the debtors are treat
I'd by number only. their names be-
ing eliminated.
The Nonpartisan league had only
s72.617.7S in loans according to the
April report. that figure bdFng inc
creased to $14S.S24.e6 in october.
The Consumers Store company
loan increased from $780, 900 in April
to $780, 00.
The League Exchange, Inc, Is q
new excess item in the October re-
port. being $66. 1928, while the Pub
fishers National Service bureau also
is a new exces item. being $47,950.0 6.
The total of excess loans to the
league and it's subsidiaries increased
from $192, 900 in April to $4,000 in
October.
The United States Sisal Trust loan
increased from s11.3oo to $12, 900
from April to october.
The No. IA loan in the April re-
port is listed as No. 6 in the OctT-
Der report, increasing from $40, 500
to $33,0SS, though severely criticized
five months earlier.
The No. Z loan in the April re-
port is the No. 8 loan in the october
report, being increased from $3.50
to $4,000.
The H. ]. Hagen excess loan of
$9,159.7S does not appear in the April
report. appearing first in the Octo-
Der report.
The P. R. Sherman excess account
increased from $10,250 in April to
s12, 1898 so. though condemned by the
examiner in April.
The Hope pioneer. [volume] (Hope, N.D.) 1882-1964, 1919-10-16
CONSUMERS UNITED STORES
COMPANY

Tho Consumers United Stores
company has a line Of credit *
tended through a system Of individ-
ual loans TO twenty-three individuals
aggregating in all $40, 100000 The IN
dividual paper is given for accommo-
dation purposes only and is secured
by notes representing farmers LA
bilities in the sums Of 500 to $50 to-
gcther with post-daed checks Of S92
and less amounting in all to $55i.-
364.SS. 1t should here be noted that
it was impossible to make an ex-
animation or even check this vast
amount of collateral and that The
figures of the bank nave been taken
for the purposes OF this report aI
correct. 1t should also be noted.
however, that 291,435.55 Of the abov..
notes and postdated checks are not
now in the banks but are in the hands
of the Consumers United Stores
company for the purpose OF collcN-
ton. All that the bank has It show
collection is receipts for the same,
signed by officers and employees Of
the Consumers United Stores coin
pany. 1t is estimated that tho farm
crs' notes held as collateral are not
worth in excess Of so per cent Of
their par value. This is a liberal
statement as to this class OF colla:-
eral hypothetical for the loans under
discussion.
The postdated checks held tas~ \
portion Of the collateral for this loan
and since they arc held as collateral
for the second largest !oan made by
the bank. requires some explanation.
These %postdated checks are in sums
of $32 and under. payable at a future
date. IT is our opinion that these
checks are not in law or in fact
collateral at all. A current dated
check in itself is not collateral. ana
a postdated check would be for tho
same reason OF a smaller value sin
for The same purpose. For the pur-
pose of collateral and security for
loans it is u opinion that postdat-
cd checks are without any validity.
or substantial value.
The method by which all colA
lateral is handled requires CONF
mont. Tho collateral held bv tho
bank for the United Consumers
Stores company loan and for the
National Nonpartisan League
is in the control and custody Of
one Mrs. Emma Clayton, who is
The Hope pioneer. [volume] (Hope, N.D.) 1882-1964, 1919-10-16

The above represents the ex-
cess loans carried by. the bank
and constitute more than 60 per
cent Of the total loans. Their
general character is extremely
unsatisfactory. The security in
almost every case is entirely in
adequate and in most instances
constitutes second liens on the
property held as collateral. Total
lack Of judgment and unwar
ranted optimism is responsible
for the extension Of the liberal
credit displayed by the above list
Of 20 excessive loans which in
each instance appears rather to
be increasing than on the de-
cline. In every case neither the
financial standing Of the makers
nor the collateral held by the
bank for the loans justifies the
credit extended.
The general characteristics appar-
,nt in the excess loans applies equal
to the smaller loans made. Lib
and optimism constitute the
principal security for the vast bulk OF
all Of the credit extended. From II
banking standpoint the general con-
Of the loans as Il whole is
very poor and warrants structure in
the severcst measure. An cxarnina-
ton of this character could not from
the nature OF the case. reveal all of
the poorer paper but the condition
found in the 10 apparent cases
shows that credit has been extended
without any system and without any
coordination by the bank officers
and all of the loans honeycombcd
The Hope pioneer. [volume] (Hope, N.D.) 1882-1964, 1919-10-16

Where the Bank Ownership Lies
A feature in the banks affairs that
Is especially significant is that of
ownership and control.
The list of stockholders. a copy of
which The Forum has obtained from
the official records. d%iscloses that
the largest single block of stock is
l67 shares, held in the name of 1.-The
League Exchange. Inc" The League
Exchange. Inc. is a corporation or
The Hope pioneer. [volume] (Hope, N.D.) 1882-1964, 1919-10-16

How Excess Loans Increased
A comparison Of the April state
ment of exNess loans with the Oct.
. statement of excess loans is inter-
esting. and it reveals that the OK
cess loans increased from s410.14G.I 10
in April. to s~7S4.194.S2 on Oct. ., be-
ing almost doubled.
The deputy bank examiner criti-
cized severely the condition of the
The Hope pioneer. [volume] (Hope, N.D.) 1882-1964, 1919-10-16

sanized and controlled by A. c.
Townley. president Of the Eonpar-
tisan league. According to his own
sworn testimony in his bankruptcy
case, Townley dictates all policies of
the League Exchange, Inc.
The whole number Of shares is
sued b. the bank is 500. and the
block of 1871 shares held by the
League Exchange was voted with
sufficient other shares on which yot-
The Hope pioneer. [volume] (Hope, N.D.) 1882-1964, 1919-10-16
Text Of The Original v
Reb0rt On Which Bank Was Closed
DIRECTORS
Tahiti

~. 3l.21OS9. 9964O0 21,076.57 1861
The last stockholders meeting a held January Goth, 1919, and the
same is properly recorded in the minutes of the meeting. The directors
have filed oaths of Office and their proxies are also on file. The minutes
display he proper election of officers and the officers have filed their oaths.
The examining committee las made w examinations in the lastt twelve
months reports If the same have been spread upon the minutes, and
the sam are properly signed by the president In the cashier The examn-
ing committee consists If Directors Headand and Aaker. The discount
committee consists. OF Chrisuanson,- RoueY- Headland and Esgen, Il this
committee is totally inactive. The minutes show that h approval 81 tn
directors have not been given to thu liabilities Of the dlrectorsG n omcerS
above. The minutes however show la an examination anti Of or tn i cans 1oove
since certain loans considered we're disproved and ordered taken up The
implication being that if the loans were consHed these must nave peen
a part those examined at that time.
1t should be notedt that the excessive oa held against O. X. Hanson
was reduced beyond the Objectionable point the day after the examination
o. place Two IF the directors Hagen and Headland, have been given
credit excessive in law.
liability
The Hope pioneer. [volume] (Hope, N.D.) 1882-1964, 1919-10-16
ROY M. HALLIDAY.

of $%20,1S1.58, also bank stock of the
following banks:
Market.
Shares value
Security State Bank Of
Courtenay ...... 80. 10 1900
Peoples State Bank Of
Hillsboro ............ 10 1900
Scandinavian American
Bank. Fargo .......... 81 $500
The Peoples State Bank
of Grand Forks ...... 10 2,160
Peoples State Bank of
Casselton ............ 10 1000
First National Bank of
T.. Sheyenne ...........123 1890
S22 1fo
The Hope pioneer. [volume] (Hope, N.D.) 1882-1964, 1919-10-16

The bonds above referred % are surety bonds n properly filed NJ
al of the officers active arc covered thereby. The cashier. P. r. Sherman,
has a direct liability If $4,000, collateral. fol which the bank holds. $4,000
wortho OF Bicken- Kyno and company bonds. Mr.. Sherman is trustee of these
bonds which we're issued at Duluth, Minnesota, n ire secured by a TWEEN
ty-fve by n hundred foot three-story brick building in thf city. The
bonds held by the bank IS collateral ae a portion OF a $4,000 Issue Issue mac
holders commenced foreclosure proceedings, which IRE 0 pendins: Ref
The Hope pioneer. [volume] (Hope, N.D.) 1882-1964, 1919-10-16

with the same defects apparent in
those already listed.
The following is a detailed de-
scription Of the individual excessive
loans listed above.
The Hope pioneer. [volume] (Hope, N.D.) 1882-1964, 1919-10-16

No. - line Of credit consists Of
two $1,000 notes signed. by a cor
The Hope pioneer. [volume] (Hope, N.D.) 1882-1964, 1919-10-16
April Report Shows Condition Bad.

Another interesting report on the bank that has also come
into possession Of The Forum was made last April, by Deputy
Bank Examiner P. E. Haldorson, and he reported to the state
department at that time that the banks condition was far from
satisfactory.
A study of the April report, compared to the reports filed
covering the inquiry that ended on October 2, reveals the course
of the bank during the period of slightly more than five months.
The Hope pioneer. [volume] (Hope, N.D.) 1882-1964, 1919-10-16
TREMENDOUS INCREASE IN THE
NONPARTISAN DEBTS IN FARGO
BANK FROM APRIL TO OCTOBER
Complete Record of Sensational Case Is Presented To-
day by The Forum, Covering Two Examinations
of Closed Institutions Condition
System of Accommodation Notes, Heralded AS Being
Made By Farmers, Shows That Organizers and
Other Paid Workers Are the Signers
League Exchange, Through Block of 1877 Shares and
Voting Proxies, Controlled Fargo Bank-Condi-
tion of Bank Often Criticized by Examiners

In the ten day interval that has elapsed since the closing Of
the Scandinavian American bank of Fargo, the attention Of the
people of North Dakota has been focused on the Developments
incident thereto, to the exclusion Of almost every other interest.
during this period there has come to the public an official
statement Of the bank condition from the state banking board
the report made by two deputy bank examiners Of its condition
on October >, has been made available in full, and today The
Forum gives to it's readers the complete data set forth in those
reports.
The Hope pioneer. [volume] (Hope, N.D.) 1882-1964, 1919-10-16

No. 90, s9.523.69. This note is Sc
cured by'fS shares of stock. in the
Peoples State bank at Casselton, tha
par value Of which is $4,000. The
maker of this loan is without inan-
cial responsibility as all his prop
erty holdings consist of III shares
in the Peoples State bank at Cas-
selton. This party owes the Cas-
selton bank over $4,000. These two
liabilities constitute a considerable
excess over the actual value Of the
stock owned. This loa;, is highly
Objectionable and a removal Of The
same is recommended.
PAST DUE PAPER.
The general condition of the loans
in the bank Is we'll displayed by the
amount of past due paper included
among them. There is listed in the
assets of the bank at the time u
Americus times-recorder. [volume] (Americus, Ga.) 1891-current, 1919-04-24
TRACTOR TO Be
SHOWN In USE
RESATURDAY

4 thorough and practical tractor
demonstration is to be made Satur-
day. April 26, from 3 to 6 o'clock, by
d. A. Carmichael, local distributor
of farming machinery
Mr.. Carmichael las selected the
Chapman lot, adjoining the Agrlcul-
tural college, where conditions are
good for thorough test Of his Mo-
line tractor and other machinery.
This large lot is covered with
thick Bermuda grass" said Mr.. Car
michael. Some Of the land is level,
sons Of it rough and in bitches, thus
giving us an opportunity to show the
farmers OF Sumter county that these
machines will do what is claimed for
them, that they work satisfactorily
on all kinds of land and under all
kinds of conditions. These demon
STATIONS will be held under my own
supervision. and the machines will be
in the hands OF practical farmers,
men who have used them in a practi-
cal way. We are anxious TO have as
many farmers-or others interested in
up-to-date farm machinery-present
as will run out. 1t is well worth the
time Of any man, for the knowledge
we will impart will mean a saving
to him on his farm"
Americus times-recorder. [volume] (Americus, Ga.) 1891-current, 1919-04-24
Surprise Birthday Party.


A charming surprise to the honor
guest was the party which was given
on Tuesday evening for James Her
man Mcdaniel, the occasion being the
celebration of his 25th birthday, at
his home on Spring street. Red,
white and pink roses in profusion dec
GRATED the rooms and the hall, where
punch was served to the guests as
they entered by Mrs. Emmett Howell
and Mrs. Herman Mcdaniel. Little
Ruth Howell and Lucille McElhenny
led the guests to the dining room,
where a delicious salad course was
served. The table had for its center
piece a hugh birthday cake, holding
twenty-five lighted candles in red,
white and pink, the same lovely colors
repeated in the roses, which were
used on the table in tall crystal
vases. Music and rock were enjoyed
until a late hour, the guest list in
GLIDING Mr. and Mrs. E. E. Howell,
Mr. and Mrs. Clarence Jordan, Mr. and
Mrs. Sam Ranew, Mr.. and Mrs. Jesse
Mailman, Mr. and Mrs. Robert Ed
wards, Miss Matte Mae Singleterry,
Miss Cecil Harvey, Miss Sara Mat
thews, Miss Blanche Greer, Miss Myra
Smith, Miss Grace McElhenny, Cooper
Bradley, Sam Mcdaniel, L. G. Cooper,
Ira Mailman, Hilliard Williams.
Americus times-recorder. [volume] (Americus, Ga.) 1891-current, 1919-04-24
BISHOP HOSS DEAD.

MUSKOGEE, Okla, April 24-Bishop
Embre Hoss of the Methodist Episco-
pay church, South, died at his home
here at $3.50 o'clock last night, fol-
lowing paralytic stroke two months
ago. He was born in Joneston, Tenn,
April IA, 1S49.
Bishop Hoss was widely known as
writer, educator and editor.
His more pretentious writings in
clude "The New Age" published in
1906; David Morton, a Biography"
1916; Methodist Fraternity and Fed
eration,' compilation of essays and
papers, 1913, and William McKen-
dree, Biographical Study" 1914.
Americus times-recorder. [volume] (Americus, Ga.) 1891-current, 1919-04-24
U.S.Army Decorator
Visits Souther Field

Sergeant First Glass A. W. Leake,
from Columbus, o., visited Souther
Field and Americas yesterday, for the
purpose of viewing the natural beauty
of the city and the field. Mr.. Leake
has charge of a corps of government
painters and decorators and his eff
forts for some time have been put on
the government hospitals in different
parts of the country. 1t is generally
wondered if the government has IN
store something additional for Amerl-
Gus and Souther Field.
Americus times-recorder. [volume] (Americus, Ga.) 1891-current, 1919-04-24
AMERICAN LEAGUE.

Detroit-Cleyeland- Postponed; rain.
Americus times-recorder. [volume] (Americus, Ga.) 1891-current, 1919-04-24
Special Appeal.

Mrs. G. E. Hill, from Rutherfard-
ton, N. c., is spending few days
with Miss Lillian Parsons, ON Church
street.
Americus times-recorder. [volume] (Americus, Ga.) 1891-current, 1919-04-24
Sunday School Class Entertained

Miss Grace Beck entertained her
Sunday school class of young men on
Wednesday evening after prayer meet
ing at her home on Hancock avenue.
Roses and blooming plants decorated
the rooms and refreshments were
served after the guests had enjoyed
music and games. Present were Miss
Kate Williams, Miss Orlean Ansley,
Miss Jewel Bridges, Miss Matte Lee
Buchanan, Miss Evelyn Bragg, Miss
Lucy FurloW, Miss Halle Walker,
Miss Mamie Bragg, Miss Hattie Nor
Americus times-recorder. [volume] (Americus, Ga.) 1891-current, 1919-04-24
AMERICUS SOCIAL EVENTS
Department conducted bu Mrs H. B. Allen Office Phone
80: Residence 466
Thursday Bridge Club Meets

HuT Sudt DTIuSe OIuu ucCUs
Mrs. Hollis Fort was the Thursday
clubs hostess at a delightful party
this morning at her homo on Lee
street. Delicate pink laurel and
roses formed the effective cecora-
t,Ol 5 and bon of handketc iefs was
& ven for high score. Pr > 1T were
Ms. J. f Hightower, Mrs l.. F.
Grubbs, M"c. w. S. Kirkpatrick, Mrs.
J. l.. Sparks, Mrs. Carr Glover, Mrs.
Lovelace Eve, Mrs. D. r. Andrews,
Mrs. H. o. Jones, Mrs. c. U. Rogers,
Mrs. w. S. Ivey, Miss Emma Mae Be-
rum, Mrs. Frank Turpin, Mrs. John R.
Hudson, Mrs. Willis Hawkins.
Miss Parker Entertains.
Miss Marc Parker's bridge party
this morning at 1920 O'Clock was one
of the most enjoyable affairs CT the
week, assembling about thirty guests
who thoroughly enpoyei the game.
Elaborate decorations of pink roses
were used throughout the house and
the party was given in honor of Mrs.
H. S. Field and Mrs. David Suttle. A
pretty DORM was the high score trO-
ply and the honor guests also received
dorins in enamel and silver. A de-
licious salad course followed the
game
Americus times-recorder. [volume] (Americus, Ga.) 1891-current, 1919-04-24
Miss Parker EntertainS.
Bridge Club Meets.

Mrs. Franc Mangum entertained her
bridge club this afternoon at o'clock
at her home on Church street, at its
first meeting since Lent. Roses and
lilies were used as decorations, and
the following guests were present:
Mr.. Emory Rylader, Miss Mary Ella
Davenport, Mis- Louise Williford, Miss
Maud Sherlock, Mrs. Carr Glover, Mrs.
George T. Adams, Mrs. Walter Ry-
lander, Miss Mary Parker, Miss Mar
tina Dedman, Miss Annie Ivey.
Americus times-recorder. [volume] (Americus, Ga.) 1891-current, 1919-04-24

gan, Miss Bessie Dedman, Miss Louise
Bragg, Miss Ruth Barnett, Eshton
Buchanan, Ralph McPheeteers, George
Walker, John Butts, Arthur Darden,
Thurston Levy, Rosser Dunnaway, s..
L. Hammond, S. B. Bond, John Phil
lips, George Williams, Charles Bond
and Charles Culpepper.
Elks' Dance.
The Elks' dance tonight in the bali
room of their home on Lamar street
will be largely attended by Americas
dancing contingent and guests from
nearby cities. The ball room has been
beautifully decorated and Meucke's or
chestra will play for the occasion
Dancing will begin at o'clock.
Special Appeal.
Mrs. E. l.. Carswell, president of
the Americas chapter, U. D. c., makes
an appeal to the chapter members, as
well as to the general public, to send
flowers to the cemetery Saturday,
April 26, at $50 a. m. for decorating
the graves of our Confederate dead. A
committee of ladies will be at the
cemetery at that hour to receive and
place the flowers.
Mr.. and Mrs Olin Dixon announce
the birth of a son on Tuesday, April
%.
Mrs. G. E. Hill, from Rutherfard-
ton, N. c., is spending a few days
with Miss Lillian Parsons, on Church
street.
Mrs. Macon Dudley was called to
Columbus yesterday by the serious
illness of her father, DR.. J. R. Darby
DR. Rarby formerly lived. in Americas
and has a host of friends here who
wish in ma speedy recovery.
RMS. Estelle j. Balloon, past grand
clerk of Woodmen Circle in Georgia,
is the guest of Miss Sara Barnett, at
IxN. !.
Americus times-recorder. [volume] (Americus, Ga.) 1891-current, 1919-04-24
AZ Club Entertained.

Mrs. Elton Parker was the AZ Clubs
hostess yesterday afternoon at $3.50
o'clock at one of the loveliest parties
of the week at her home on Taylor
street. The house was abloom with
quantities of roses and sixteen guests
were present, their names following ::
Mrs w. NJ. Humber, Mrs. lack Chit
ders. Mrs. Frank Sheffield, Mrs. E. M.
Viquesney, Mrs. John Sheffield, Mrs
A. c. Crockett, Mrs. Frank Turpin,
Mrs H. B. Mashburn, Mrs. Lee Hans
ford, Mrs. S. A. Daniels, Mrs. Law
renee Brown, Mrs. L. G. Council, Mrs
R. L. McMath, Mrs Arthur Rylander,
Mrs. ]. L Sparks.
Mrs, Bobbie Ferguson, of DeSoto, is
the guest of Miss Sara Barnett dur
ing a short stay in the city.
Americus times-recorder. [volume] (Americus, Ga.) 1891-current, 1919-04-24

RMS. Estelle J. Balloon, past grand
clerk of Woodmen Circle in Georgia,
is the guest of Miss Sara Barnett, at
her home on Jackson avenue.
Americus times-recorder. [volume] (Americus, Ga.) 1891-current, 1919-04-24
WOman's Literary Club.

NOman1S Literary CluD.
The Woman's Literary club met this
afternoon at 4 o'clock with Mrs. d.
w. Bagley, at her home on Taylor
street. The following program was
rendered to an interested audience:
ROMAN ARMY AND NAVY.
'The System of Early Roman War
fare"-Mrs. w. H. G. Dudley.
Military Training"-Mrs. W. H.
Emmett.
'Encampments'' Mrs. j. w. Harris,
Jr.
Famous Warriors Mrs R. P.
Glenn.
"Battleships and Sea Fights of The
Ancients '-Miss Alice Lee
THE Fish That Can Stop a Ship
Mrs. l.. B. Lott.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1919-02-11
Easy to Make This
Pine Cough Remedy


Hou knew that pine II used In
nearly all prescriptions and remedies
for coughs. The reason is that pine
contains several peculiar elements
that have . remarkable effect in
soothing and healing the MEM
branes Of the throat and chest.
Pine cough syrups are combina.
lions of pine and syrup. The
Syrup" part is usually plain sugar
syrup.
To make the best pine cough
remedy that money can buy, put ~
ounces of Pinex in q pint bottle, and
fill MP. with homemade sugar syrup.
Or you can use clarified molasses,
honey or corn syrup. instead OF
sugar syrup. Either way, you make
q full pint-more than you can buy
ready.made for three times the
money. II is pure, good and very
pleasant-children like it.
You can feel this take hold of .
cough or cold In q way that means
business. The cough may be dry,
hoarse and tight, or may be persist.
emily loose from the formation of
phle4m. The cause is the same-in-
famed membr anes-and this Pinex
and Syrup combination will stop Il
usually In "a hours or less. Spleen.
did, too, for bronchial asthma,
hoarseness, or any ordinary throat
ailment.
Pinex is q highly concentrated
compound of genuine Norway pine
extract, and Is famous the world
over for its prompt effect upon
coughs.
Beware of substitutes. Ask your
druggist for "zIl ounces of Pinex"
with directions, and don't accept
anything else. Guaranteed to give
absolute satisfaction or money re-
funded.
The .Pinex Co., Fl. Wayne, Ind.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1919-02-11

presenting probably the best show
ever offered at that house. 1t Is the
delightful Army cantonment and Lib
erty Theater attraction, THE Mimic
World" with its full score of pretty
and talented young girls and other at
fractions. including Solly Cutner, who
was featured In "Yip. Zip. Yaphank."
and whose recital of the trials of a
rookie are inimitable- Alice Morley.
the chief Coincidence. Is very funny,
and with her sister Dorothy offers IAN
impression" of the Courtney sisters,
queens OF ragtime; Lila Hafford. a
duplicate of Belle story: Margaret
Smith, reflex of Florence Tempest:
Beryl and Daisy Hope. a replica of the
Dolly Sisters; Marie Sherwood.
glimpse of Maude Fulton, star of THE
Brat; Charles Havican, an impersona-
ton of Oscar Hammerstein, and others
of the company limitations. impress
sions or reflections of big stars in the
dramatic armament; while the large
audiences laugh and applaud almost
continuously. Wheeler Wilson and the
Dancing Dolls present fine dancing
specially, and Alma and the Merriman
Sisters. big xylophone number, with
added dance features The whole show