Jamestown weekly alert. [volume] (Jamestown, Stutsman County, D.T. [N.D.]) 1882-1925, 1920-05-20
LAND SPECTATORS
OUTSIDE OF STATE
GIVEN BIG LOANS

AcdS AS LCosuCAS S>S uOA~
Funds While Needy Farm
crs Are Told to Wait.
During the referendum campaign
last spring, the leaders Of the Nom
partisan League professed to be very
Indignant when it was asserted that
the proposed Bank of North Dakota
was organized, not primarily to aid
the needy farmers of the state, but to
allow the league leaders to control
all of the public funds to their own
advantage. That the accusation was
true is conclusively proved by the
number and amount of loans made
by the bank, under the direction Of
its $4,000 per year and Board Di-
rector Cathro, to D. ]. Mcmahon, a
relative of Congressman Baer.
$4,000 Loaned to Northeastern.
The loans to Mr.. Mcmahon, who IS
not even resident OF North Dakota,
but is St. Paul land speculator, to-
tai $4,000, one Of the loans being
for an amount more than the assess
ed valuation Of the land upon which
1t is secured, the valuation being at
100 per cent Of the value Of the land
made in accordance with the laws
governing assessments in 1919.
These loans are recorded in hook No.
13 of mortgages at the court house
of Golden Valley county and have
been certified by A. Z. SWAN. regis
ter of deeds Of that county. 1t is dif-
ficult to see how the league leaders,
or any of their defenders can justify
these loans in view of the fact that
there are hundreds of honest-to-
goodness farmers in North Dakota
waiting action on loans applied for
months ago.
The first piece Of land owned by
Mr.. 'McMahon listed in the register
Of deeds Office is section 13, town
ship 1876, range 105. The assessed
valuation of the land is $4,O22.O0
and is security for loan Of $4,000
Just $22 less than the assessed val
uation of the land. The second piece
is section 3 Of the same township and
range and is valued at $9,052 and IS
security for loan Of $S,500.. The
third piece is section 9 of the same
township and range, valued at $5.-
92S, and is security for a loan of
$6,000-$72 more than its value
This loan of more than the assessed
valuation Of the land is made in face
Of the fact that the law provides that
loans shall be made for not more
than fifty per cent OF the value Of the
land. Is it any wonder that hun
dreds and thousands of honest farm
ers are breaking away from the lead
Of Townley and his socialistic crew
of self-seekers?
Two other loans listed are one for
$1,000 on land valued at $15,562
and another of $25.o00 on piece Of
land valued at $34,564.
How the Information Leaked Out.
Was this information given out by
Townley. Lemke. Cathro or any of
the other job-holders under the
Townley regime? Not at all. The
only reason that the above facts have
been made public is because the peo-
pie Of Golden Valley county refused
to elect Townley men to the county
Offices, and the men elected in that
county are standing out for the good
of all Of the people Of the state and
not only for the friends and relatives
Of the league leaders. e..
Figures Verified.
The injustice of the loans listed
above was so apparent, that before
using the figures letter was writ
ten to the register Of deeds Of Golden
Valley county to ascertain the facts
in the case. The reply Of Mr.. Swan
should cause every honest Lacquer to
get behind the men who are striving
to end the rule Of Townleyism in the
state and to save as much as possible
Of the peoples money, remembering
that it is the money Of every taxpay-
er in the state that is being loaned 10
these out-of-state land spectators.
MI. Swans letter, which is given
below, also mentions John H. Haigh,
who lives at Carlyle, Montana, but
who has been given a $4,000 loan
ON his North Dakota land holdings.
Mr.. Swans letter says:
Tie mortgages you have on the
enclosed list are as they appear on
our records. think MI. McMahon's
home is in st. Paul. Mrs. Baer:s
mother is a sister Of McAdahon. John
H. Haigh owns controlling interest, Il
believe, in, q Carlyle bank. He has
no home in this county to my knowl-
edge. .
(signed)
A 3. SWAN.
DIR. =. II. CEaARYsAPPONTED
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