Grand Forks herald. [volume] (Grand Forks, N.D.) 1916-1955, 1921-10-19
Of Bank of North
Dakota Indicates That Bonds
Are Being Sold at a Discount

vious It had deposits with outside s'
correspondent banks of only
9164,761, so during the last
month the Bank OF North Da-
kOta had increased these out.
side deposits by $%1,O70,S4e.
So 1t looks as though the Bank
OF North Dakota must also be
engaged in "a conspiracy to I'm.
poyerish the state for political
purposes"
Bond Sale Receipts.
There are q number OF other in
teresting points covered by this lat
est report OF the Bank OF, North Da-
kota. It states for instance, that the
total receipts from bond sales up to
date r $2,103,053. although it is
claimed that the state has sold ST.
100000 worth of bonds.
Credit Cut Down.
In spite Of this sale, however,
which was alleged to have taken
place over two weeks ago the Bank
of North Dakota appears to have cut
down its extension Of credit in the
state, while at the same time main
tanning large deposits with outside
banks.
Only 20s banks within the state
now have deposits from the Bank Of
North Dakota, against PA a month
ago. These deposits moreover, have
dropped some $4,000 during the
month. In the same way the loans
to banks in the state have dropped
about. $4,000.
The bank of North Dakota has
borrowed an additional $4,000 dur
ing the month, it's bills payable now
amounting to 100000.
There are still $34,227 worth OF
registered checks Of the Bank Of
North Dakota still outstanding. bu,
the bank statement claims that these
have been called in for payment, and
will be paid as soon as presented.
$4,000, 900 Myth.
The statement shows that the Banl
of North Dakota has obtained S.,
1O3.O53 by the sale Of bonds, and ha!
borrowed 500, 900, making a total o
| $2,s03,053. or this amount. however
as has been shown, $1,235,107.12 i
in banks outside of the state, so onl.
$1,567,946 is actually within tn
state for the benefit of the farmers.
This is a very different showing
from that claimed by the Farg'
ECourier News, which says that IS,
100000 have been brought into tn
state, by the Bank of North Dakota
A close. search OF the banks state
ment fails to reveal the balance o
THAT $4,000. 900.
The statement for Oct. Is Of tn
Bank Of North Dakota Is presente
herewith:
Resources.
Bonds. United States,
state and county ....$ 1,SS5,994.6
Loans to banks ....... 1,S62,16S.4
Loans on warehouse
receipts ............ 64,101.4
!. Loans'to public tnstitu-
ions and departments 1,3S4,054.0
Loans on real estate .. 819,750.s
Interest earned and
collected ........... 2o6,666.1
I Furniture and flxtures. 62,673.6
Due from 20s depod-
Credeposits) -. 3.sso,s44.4
Due from correspond
ent banks outside N.
q: ..-". . ..:: f,zSS,10Vs1
Cash items due from =
banks In the state s.. l55,se7.;
Cash items due from
state and public cor
porations ......... 24,777.(
items ............ s5,oes.:
Contingent fund Estate
Treas. Reg. checks. 721.l
State treasurer, farm u
loans delivered for
. bond issue ......... 2,062,265.>
payable ............ s,1s4.!
Interest paid in bank
on bank series bonds 10000
Total resources -. .$12,24s,245.
Liabilities.
Capita ...............$ 1000, 900.
Surplus ........... 10000.
: Reserve for deprecia-
ton, furniture and
fixtures ........... 5000.
Net profits .......... 10000.
| Appraisal fees ........ 4,108.
Cashiers checks ...... 1883.
Individual deposits 49,. 598,527.
| M funds .......... ~2,s1s.o7s.
! Pubic deposits, GenI
! nd other funds, state
/ treasurer and state
institutions ........ 2.4S4,505.
u.. .depv. 9$xzff1ffm Nfiflffm xzfifl1
a Public deposits, Gen'l
n and other funds,
- county, city, town
. ship and school
treasurers ..........@ l,42o.1oo.
Due to depositary banks
Preserves ......... 340,719.
Proceeds of bond SALE 2,103,053.
Is Bills payable ........ 100000.
u Registered checks 49,. 34,227.
Certified checks ...... PIT.
hi --
Total liabilities -. .$12,2 PAS, PAS,
f. s---