Grand Forks herald. [volume] (Grand Forks, N.D.) 1916-1955, 1921-02-11
STEPS TAKEN TO
CARMSHEEFUND
MBANK OF ND.
Golden Valley Officials
Make Plans Following
Lofthus Orders.
(By Stan Correspondence

Bismarck, N. D.. Feb. I1.-Another
hitch was taken yesterday afternoon in
the tangle OF financial affairs Of tho
state when it was learned that Golden
Valley county officials had taken steps
to garnishee the funds of the Bank Of
North Dakota now in county banks in
the effort to obtain payment Of
their county drafts which have peen
refused by: the Bank of North Dakotn.
The action appears to be similar to
that inaugurated by Sargent county
few days ago.
This. comes on top Of the action of
o. L. Lofthus. state examiner, in
sending out a letter to several hum
bred of the banks OF the state order
ing them to honor the drafts sent out
by the Bank Of North Dakota with
out delay or to close their doors.
Lofthus' action. was caused, It is
explained, by the fact that the Bank
Of North Dakota has been unable to
meet promptly the demands that
have been made upon it during the
last week or ten days. and there are
ton. This was admitted yesterday
morning by +. w. Cathro. manager,
in his testimony before the house audit
committee.
Bank officials maintain. however.
that if the depository banks will only
pay the drafts of the Bank of. North
Dakota promptly, the latter institu-
ton will have no difficulty in meeting
it's obligations.
Along with all this come the notice
sent out by the state bonding de-
partment that the bonds of all Off
Gals in charge of public funds who
deposit any of these funds in any
other institution than the Bank Of
North Dakota will be cancelled. There
are a number of reasons given for
this last action. but there is a pretty
general belief that it is q last desper-
ate move to force more public funds
into the Bank of North Dakota.
Moreover there are many who see
in Lofthus' order to, the banks an in
dication. that the league leaders are
attempting to force a cessation of fur
ther Investigations of the Bank OF
North Dakota by threatening the
smaller banks with being compelled
to close their doors.
tain that the League leaders are in
dulging in a vain hope, as there APP
pears to be no likelihood that any
threats or attacks they can make can
force the cessation of the probe now
$4,000 SAVED.
Duluth, Mimi. Feb. 11.-Through q
centralized stool room plan put into
effect a year and a half by Walter
II. Bergen. county auditor, st. Louis
county was saved $4,000 during 1920
The new system has to do with the
purchase and distribution of office
supplies Of all kinds to the 80 county
offices.
1t is estimated that a saving of from
Is to 20 per cent a made in pur
chasing and full so per cent in distri.
button.
Total supplies handled during 1926
amounted to $62,728.Se, the clerk O.
this department said.
AS evidence Of the economical a
vantages of the office, the clerk ex'
planned that Il stock Of scratch pads
valued at $500. originally purchased
in 1917 before the system was put into
effect was intended for the annua
needs of one Of the 80 offices. Takel
over by the distributing department
the pads have supplied all offices fol
a year and a. half and there are nov
enough left for another year.
In connection with the office Count.
Auditor Bergen referred to the qualit.
Of paper obtainable for office files now
One book in the office vault contain
the minutes of Il meeting held in 1858
The paper in this case together will
the ink is practically intact. Othe!
records of 10. 20 and 80 years art
ready to crumble, the county audfto,
asserted.
~ START TRACK. SEASON.
Chicago, Feb. 1.-THE western
conference college track season will b'
inaugurated tonight when cams from
the University of Chicago and Purdu'
university meet here.