The Bowbells tribune. [volume] (Bowbells, Ward Co., N.D.) 1899-1969, 1920-10-01

AS a great many II misstatements
are being circulated by interested
parties in regard to the Bank of
North Dakota and as charges are
being made that the Bank of North
Dakota is discriminating in favor Of
some banks; that tne people Of
Burke county are not receiving the
benefit of the use of their public
funds. that the Bank%Of North Da-
kota is carrying deposits of several
million in banks outside the state
and various other statements made
by interested parties IN an endeavor
to discredit our State Bank, it
seems that a few facts in regard
to the conduct Of fSthe Bank Of
North Dakota, especially in respect
to the way that conduct effects the
banks and people Of Burke county
would be of interest at this. time.
In the first place the Bank of
North Dakota does not discriminate
against any bank even those who
are it's worst enemies. In dtstrib-
uting public funds. the State Bank
takes into consideration the size Of
! the bank, capital, surplus. and de-
post, the number of customers
/ they have, the crop condition in
| the locality and whether or not
they are cooperating to any ex7
tent with the Bank of North Dakota.
That the banks and people Toi
| Burke county have nothing to com
| plain of regarding the public funds
| they are having the use of Is shown
by the following figures: %On Sept.
18th. 1920, the various treasurers
| Of Burke ounty-county, township,
school, cities, village, etc-had on
| deposit in their general fund
S136,399.75 and in their sinking
| funds. S s1O7,797.46, making a total
of all public: FUNDS belonging to
Burke county and it's sub divisions OF
| S244,197.2l. The Bank Of North
Dakota had on redeposit with the
banks of Burke county $214,563.l5
The State Bank has loaned to some
of the banks in Burke county q,
24S.35. The Bank OF NorLil .i)a-
| kota has completed real estate
loans to farmers totaling s$42 Q Q. %
1 making a total of public funds III
/ Bnrkesncounty 1ofs,$ $344,51T.6O,. OF
more public # funds lii
Burke county thar all the treas
urers in Burke county have on de.
post with the Bank OF North Da-
kota.
We have over ninety thousand
dollars more public funds available
| to finance farmers and business
! men in Burke county than would
be possible if we did not have the
Bank of North Dakota. That is
! one of the reasons the Bank OF
| North Dakota was established SC
4 as Ito be able to transfer public
| funds from portions Of the state
| where crops are good to the parts
! where they are short or a failure.
The charge that the Bank OF
North Dakota is carrying reserves
| of several million dollars in banks
outside the state is entirely ground
1 less and is evidently made in an
attempt to destroy confidence in the
bank. At the close OF business
i IrAug. 14th the Bank of North Da'
| kota had on deposit with cores
i pondent banks outside the state
only $526,135.46, and this amount
is required to meet the exchanges
OF the business of the banks that is
transacted through the Bank o.
| North Dakota and is much less
than would be required If each 10.
cal bank carried it's own individua!
reserve account with banks out
i side the state. In fact at the time
i the Bank Of North Dakota law was
|passed banks OF the state had on
4 deposit with correspondent banks
outside the state about twenty mil
5lslion dollars. and at the present
! time the banks of the state are car
rying nearly two million dollars II
their reserve accounts with the
Bank Of North Dakota that would
otherwise be carried in banks out:
, side the state. So there is a
least about a million and hall
more dollars Of reserve account