Grand Forks herald. [volume] (Grand Forks, N.D.) 1916-1955, 1921-06-27

9. DID he say anything about post
dated checks:
4. I told him not to sand any and
"a. why did you cay moi to send
A. Because I had previously made
up my mind I wouldn't permit any
loans Of the bank to 90 into
Q. As matter OF; fact the eason
you spoke. about that Was
Mr.. Weeks: I ask that the witness
be allowed to complete his answer.
@. If you have anything else to say,
say it.
A into any league or political
activities.
Q. Now; a. q mastsr Of fact, that
treason you spoke to him about that
was because you knew the Scandinav-
ian-Amercan bank was mixed up
with those activities, didn't you, and
that Il why@you spoke to him about It,
isn't that4thels truth?
q. Day speak to other bankers
that cR1ne to you for deposits and
loans about league paper and this
United Consumers Stores the same Is
you spoke to Mr.. Hagen-did you
A. I had already learned
O.. Did you talk with other bankers
who approached you for loans about
the United Consumers Stores and the
league corporations, the same as you
talked to Mr.. Hagen Of the Scandi-
navian-Amerfcan bank?
A. I don't recall that. anyone sub
nitted any proposition where 1
thought there would be any league
Knew Bank Wa Loaded.
Q. Then, as a matter OF fact.
the reason you spoke to him
about II was that You knew he
r. was loaded with thAt paper?
~ him about 1t?
~ A. Yes. -
o. And Won knew that bank q
was AFFILIATED with their different
concerns and was helping finance
'ns a. I didn't know to what ex.
q. You knew they were doing 1t but
not to what extent, and that is why
you spoke to him to keep that paper
away from you?
A: told him you have plenty OF
good paper down thereto send that
up. and don't send any Of this paper
6. And the a you said tina,
waS because you knew he was nnanc-
ing those concerns and was loaded ur
with this paper? L.
Y O. The reason you said It was be.
cause you didn't want 1t to come into
your bank?
A Exactly.
Is. And you knew he had It and
would be likely to do It?
A. I warned him in advance tkAt
wouldn't take it.
6. AS a matter Of fact you knew
Mr.. Lemke was concerned with all 81
those same enterprises at the same
time FL. I
A. No.
q. You knew he was Interested !.
the United Consumers Stores Co..
don't mean financially, but RESPONSE
BILE for its creation and interested il
Its success?
IN A.. No. "
al note here another paragraph
In this letter, States Exhibit .G"-
the letter from Mr.. Hagen TO thu
Z, Bank Of North Dakota It reads a
follows: we hold pledge Of the Ma
Consumers United Stores Co., both o
which assign and guarantee all col
! lateral notes and post-dated checks
We enclose statement Of the Consur1
ers United Stores Co." Do, you know
what is meant by that paragraph
What does that mean has been dom
in connection with that proposed
loan, II you KNOW.
A. It means, as I understand II
that they held collateral in the. Scan
dinavtan- American bank to supper
all Of those obligations that they turn
ed over to US as additional security.
@. In addition to what they sen
you?
A. What they undertook to turn
over to us.
Q. Then the pledge OF. the Nationa
N~onpartisan league-what sort o
stuff would that be. what do you IN
derstand from that?
A. / Understood that they he'll
notes of farmers and others.
O. That were owing to the Non
partisan league?
A. Yes. in considerable volume.
q. And it continues; :both Of which
assign all notes and guarantee post
dated checks"-now. that means post
" dated checks as well as notes. A ee.