Grand Forks herald., 1919-12-30

Just out Of the army. While still In
the service he met man, named KEEL
ley. who told him he could get him .
was referred to Rulings and his part
ners. who asked him II he was ex-t
perienced inss the banking. business.
He told them he was not. He .wasi
hired, and soon afterward gent to
Halsey.
The statement Of the Halsey banks
to the state bureau last month did
not look right! State Bank Examiner;
examination. which resulted in hissi
Immediately CLOSING the bank, which |
he put in charge of a local director. i
C.. w. Biyins. a warrant was sworn;
out for the arrest Of Ridings, and he ,
has Just arrived in Lincoln. heying
lis IN Lincoln at the call of the state
banking bureau.
"A b. Touzalin, another bank ex-
aminer. went to Minneapolis to To-
cate Ridings.
Smacks Of North Dakota
Investigation made SO far by the
Estate banking department seems to
identity the men who had charge of
the little Halsey bank as the same
ones who are guiding the banking OPP
|erations Of the Nonpartisan league in
IA letter to the state banking bu-
rcau from Rulings is on a letterhead
of HI. D.. Hagerty (Inc.) Of Fargo, N.
d. RidinEs Is assistant secretary and
treasurer Of this company. The Hag-
erty company is made up Of the big
Nonpartisan leaguers Of North Das
kota. Some Of them are now. and
{ have been in the past connected also
with !, the (. Scandinavian American
bank Of Fargo. HI D.. Hagerty Is
president of Hagerty, Incorporated.
The vice president is j. r. Waters,
manager of the Banks of North Da-.
kota. the Npnpartisan league state
bank examiners. 8 lie, formerly ran a
livery stable at Plymouth, Iowa :, {
Certificates Are Scattered.
at. Allen Box, "a y: prominent
league man. in also, one. of the Hager-
, who is secretary. and, treasurer. Hast
ings was formerly president Of the
Scandinavian-Ameri bank, and he
and Box were said to- have. been con-
nected with another banking deal at
Valley. City, Md, which. also Caused
i quite a rumpus in that state.
< ] 1T. has been found that the Farmers
y State bank Of Plymouth, Ia, has ST. 900
Of the certificates Of deposit. and the
, |
Ia, has $1,000, all presumably receiv-
ed through Ridings. B. Vedeler, 1851
lSecurities building. Minneapolis, has
written the Nebraska, banking bureau
enclosing two of the certificates for
$1,000 each, but no request is made
for their payment, nor; are they indors-
ed by him.
Issued Without Security.
Cashier Dion, who is in Lincoln
says that on October 5 the bank wa.
short of money, and not knowing what
to do, he wrote to Ridings. Ridings
replied that he had some friends who
in the meantime to send him $4,000
more certificates of deposit, which
Dion sent, this being the $4,000
against. which there is no collateral OF
any kind.
ITO back up the first issue Of Ger.
tihcates, Ridings sent the bank $4,000
worth Of bonds issued by the Grea1
Western Livestock Co. Of Fargo.
County Attorney F.. A. Resiner o1
Thedford got out the complaint,
against Ridings and Dion. charging
them with converting certificates oi
deposit to their own use, and alss
with issuing the certificates to Riding.
as q conspiracy to withdraw fund.
from the bank.
"Ridings asked that he be allowed t.
return by way of Bismarck. N: D.. 81
that he might secure assistance In get
ting out Of the tangle."
Touzalin arrived. In Lincoln tonigh
! with Ridings, and stated that the Hat
ter had taken him to many places Ii
Minnesota In search Of someone VIII,
would provide resources, from which
the claims against the Halsey banl
might be met or, secured. They vii
go to Halsey tomorrow, wheres<1t i
anticipated Rulings will face prosecu
ton on charges Of converting certifi
Gates Of deposit to his own uses