Emmons County record. [volume] (Williamsport, D.T. [i.e. N.D.]) 1884-current, 1921-10-20


Forks mill and elevator for nearly one
year and there is no prospect that any
thing more will ever be done. IL a
change Is not made for the better in
our laws and In the personnel Of our
Industrial commission on october %.
In two years the state has easily
lost. never to recover, at the Drake
and Grand Forks mill ventures, over
One-half million dollars.
Public Funds "Frozen" In "FrlendIy"
Banks Now Closed Never to Open.
The fact that 39,3S4.O4 Of public
money, or an average of $52, 518O5 per
bank, was put into 81 Nonpartisan or
Friendly" banks, seven Of which are
outright League organizations, while
the average amount of state deposits
in the other I'll banks of the state in
which there was some state money
was about $5.O00.O0, or less than one
tenth as much as went into League
banks, leaves no doubt but what Fraz-
Ter, Lemke and Hagan as directors Of
the Bank of North Dakota used public
funds for building political friendships
without regard to the safety OF the
money. The seven banks that were
outright League organizations had
total deposit Of over '$700OOO.OO.
Nearly all Of the banks that were
favored with large deposits by the
League are closed, never to open, owing
the state In the neighborhood of &c.
OOO, 10000. The League leaders OBJ
tanned control Of number of banks
for the purpose Of putting public and
private money into their own pockets
and the pockets of their henchmen.
That explains why the League oper-
ated bank, favored with state funds,
generally failed when one or more
other banks, operating alongside Of 1t,
kept their heads above water. Through
the Scandinavian-American bank alone
$739, 494.82 were passed into the hands
of the political henchmen before it
was closed, never to open again, owing
the state about $45O,OOOOO. page 1e3-
1874 House JOurnal),
Summary Of "Frozen" Tax Funds"
Farm Loans. .$2,SS1 1922
Home Building Association 41863O.14
Drake Mill. .............. 61,444.S4
Grand Forks Mill and Elc- n
vator .................. 921,379.34
Loans and deposits in 81
League friendly or con-
trolled banks, most of
them closed. ........... 1888, 394O4
Total. .............$e,22 3, 66O.5S
To this total must be
added loss of interest
ut so per year. ....... 35O,OOOOO
This brings the total pub
lie funds put out of bus &a
mess by Frazier, Lemke
and Hagan to. $6,573, 66O.58
This explains why townships, vii
lagos, cities, counties and school
boards now find themselves unable to
pay their obligations, even though they
levied and COLLECTED. a sufficient amount
of taxes last year (and even though
the League leaders claim they have
sold some bonds).
How much of this sum the state will
recover, or how much will have to be
made up by the taxpayers IN years to
come, will depend largely on how long
Frazier, Lemke and Hagan are per-
mitted to continue their wasteful cnd
bungling administration Of state az.
fairs. Tramp receivers are being ap-
pointed for many of the unfortunate
banks with the result that the assets of
these will be dlssipated either because
Of lOOting, or because Of helpless In
competence on the part of the receivers
money is being used to build up an
alliance Of radicals all over the central
west, and to build up political mach
inc at home which Frazier, Lemke and
Hagan have hopes will be inconquer-
able. AS long as the Bank of North
Dakota is allowed to be open all money
coming from the sale of bonds and pay
ments on loans can be used for politi-
cal purposes and the taxpayers made
to pay the bill. The foregoing Is cor
rect statement taken from the public
records to show how much public
money was frozen in a little more than
one year. None but those on the Gin
side know how much has been frozen
since February, 1921, no one knows
how much more will be frozen in years
to come II a change Is not made, now,
in our laws and the personnel of the
industrial commission now.
"Froxen" Money Not All.
In addition to this freezing over
$4,000 10000 Of public money, that
should be available for public expense,
more than $4,000, 10000 Of money Dor
rowed from people Of other states has
been Withdrawn on account Of the ram
pages of our legislature and the. dis
honesty, unscrupulousness and disre-
gard for public property that has been
displayed by Frazier, Lemke and
Hagan as administrators Of the indus