The Bottineau courant. (Bottineau, Bottineau County, N.D.) 1895-1929, 1920-09-09
DETAILED ANALYSIS OF THE OPERA
TIONS OF THE BANK OF NORTH
DAKOTA

AhOlA
500, 100000 of the net earnings of the Bank
has been paid to the State Treasurer to pay in
terest due January l and July l, 1921, on the
Bank Series bonds, so that no taxes need be
levied by the State during 1920 for the payment
of the 1921 interest on the Bank Series bonds.
$23,954.lO has been set aside from the earn
ings of the Bank as a reserve to be repaid to the
State Treasurer. for that portion of the state
appropriation Of 500, 100000 that was used by
the Bank during the period of organization
This amount cannot be repaid to the State
Treasurer until the Legislative Assembly so d.
reefs. The remaining SIG, O45. 80 of the appro-
priation was not used and reverts to the general
fund of the State.
$6,467.99 of the net earnings of the Bank has
been set aside as a reserve to cover depreciation
on furniture and fixtures. :
$4O,OOO.OO of the net earnings of the Bank
has been set aside as a surplus fund in order to
support and maintain the capital of the Bank
unimpaired and to strengthen the credit of the
Bank by virtue of the creation of a surplus
fund.
$50, 100000 of the net earnings of the Bank
might now be transferred to surplus, thereby
making the total surplus of the Bank after it's
first year of operation equal to six per cent of
the capital. But it is deemed preferable that, in
stead Of the creation of such additional surplus,
such amount might be transferred to the State
Treasurer, provided the Legislative Assembly so
directs, for the purpose of reimbursing the tax
payers for taxes levied in 1919 to pay the 1920
interest on the Bank Series bonds in the amount
of 500, OOO.O TX"
1914 444 30 from the gross earnings of the
Bank has been paid to the State Treasurer,
County Treasurers and the various treasurers
of the public corporations, or political subdivi-
sions of the State, and state institutions as in
terest on public funds deposited in the Bank.
$54, 769.46 from the gross earnings of the
Bank has been paid as interest to 696 state
and national banks in North Dakota on their
reserves carried in The Bank of North Dakota.
$57,685.30 is owing by the Bank as interest
accrued but not paid. These several amounts are
not yet due and will be paid when due, and con-
sist of the following:
Interest accrd. to Depository Banks 8 41O.69
Interest accrued on Certificates of
Deposits 352.58
Interest accrued on Bills Payable .um- 7,954.OO
Interest accrued to County Treas. -. 6,829.94
Interest accrued to City Treasures 1,795.25
Interest accrued to Township Treas. 3,663.81
Interest accrued to School Treas. ~~- 9,149.61
Interest accrued to State Treasurer 6,311.85
Interest accrued to State Institutions 1888
Interest accrued to Treasurers on
Sinking Funds 21,029.89
$57,6s5!so
$4,O76.7 is owing by the Bank as interest
collected but not yet earned, consisting of
amounts to be hereafter earned between this
date and the date of maturity of the obligations,
such as discounts taken in advance on redis-
counted bills, etc. In the event of payment be-
fore maturity interest collected and unearned
may be refunded to the borrower.
$317, 298.98 is due to The Bank of North Da-
kota on interest earned and uncollected, which
interest will not be collected until the obliga-
tons to which it pertains are paid. Such inter-
est has been actually earned at this date and
payment will be made at the time of payment of
the principal amounts and consists of the fol-
lowing: -.
Interest due on Bills Receivable S .54,2 90. so
Interest due on Bonds 112,669.96
Interest due on Farm Lands ~-~~~~~. 97,013.59
Interest due from other sources ~-- So, 324.9 SO
.-" '',-.. $s17, 1885
$29, O51. &c from the earnings of the Bank has
been paid to 819 depositary banks as interest on
daily float, or uncollected checks deposited by
them in The Bank of North Dakota, by virtue
of their receiving credit on the daily receipt of
such checks at The Bank of North Dakota up
to and prior to the time such checks are collect
ed. This payment probably equals, if it does not
exceed, amounts previously charged by bapks
as exchange on checks.
$1,518, 717.27 is now being carried in The
Bank of North Dakota as reserves by 696 state
and national banks turnout the State, against
which 1888, 1853. SO is carried by The Bank of
North Dakota in correspondent banks outside
the State.
There is also an additional amount due from
banks consisting of $812,260.87 out for collec-
ton, which about equals the reserves of The
Bank of North Dakota carried in correspondent
banks outside of the State.
Collections due from state institutions and
treasurers Of public corporations amount OF
$57, 637.97.
$25, 499. 81 consists of cash on hand and cash