The Sisseton weekly standard. (Sisseton, Roberts County, S.D.) 1892-1929, 1921-10-07

Eastern Bond House BuvS
$2,OOO,OOO Of Real Estate
and Mill Elevator Issues

ing farm loans beginning with the
applications now on file. These loans
he stated, would be made at about
100000 per month to begin with
and later larger amounts as the
bonds were sold to cover the amounts
No new appraisals will be required
for the loans already on file.
Has Been Long Hard Fight
'sIt has been a long hard fight, :"
said Mr.. Cathro, "but we feel now
that the Bank of North Dakota is out
of the woods with the single excen-
tion of the initiated laws aimed at
us, but we believe the people will
vote these Laws down now that we
have proven that the Bank of North
Dakota is the only institution in the
state that is bringing money into
North Dakota.
cit also mean sthat work can be
resumed on the Grand Forks mill
and elevator as soon as weather con-
ditions permit"
Splitter, Rorick & Co., of Toledo,
are among the oldest bond houses in
America. the elder partner having
started business fifty years ago. Ne
gotiations with this house were first
begun in the New York Office Of the
Bank of North Dakota in charge of S.
r. Davis with New York agent who
got in touch with his home office in
Toledo. Director Cathro was in Chi
cago at the time and he sent Mr..
Webb of the Chicago ONCE to Toledo
to close the deal.
The New York and Chicago
houses will now be closed, Spitzer.
Rorick & Co.. becoming the agents
Of all future sales Of the North Dako-
ia bonds.
Before cloing the deal with the
Toledo bond houd house." said Di-
rector Cathro, 1--WE had to overcome
a large mass of misinformation sent
broadcast against the Bank and
against the Industrial program How
ever we have conquered every kind
Of opposition and have disproved
every charge. We have gone down
least and convinced bond buyers
that our bonds are backed by the in
tegrity and industries Of North Da-
kota people and unlimited resources
and are gilt edge.
Opponcnts Win BE Defeated
All state offcers today manifested
much interest and enthusiasm in the
sale announcement.
Governor Lynn Fnasier comment
Ing on the announcement stated ~
was told sometime ago By friend
who attended the recall convention
at Devils Lake that A. b. Jackson,
one Of the committee Of 81. had said
1T is absolutely necessary to have
this recall In order to stop the sale
Of bonds for II the administration
soils these bonds. we are licked II
would appear from the report OF Mr..
Cathro relative to the bond sale that
Mr.. Jackson's prophesy is coming
true. The bonds are sold and those
who have sought to stop their sale
will be defeated
John G. Hagan, commissioner Of
agriculture. in commenting on the
announcement said:
I'VE have tried to sell North Da-
kota bonds since 1919. We have
been blocked by court procedure, by
referendum election, by SANDER and
MISREPRESENTATION q every kind. We,
have met the enemy and have sue
ceeded in doing what they said we
could not do. We have sold the bonds
and the industrial program will siow
go to success provided tho people
vote down the initiated lsws.'
Warn Asainst Bonds
Bismarck, N. .,oct. 5.-The in
dustriai commission today received
from friendly banker circular let
tor that II being sent out this week
Ito the banks Of the state signed By
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