Grand Forks herald. [volume] (Grand Forks, N.D.) 1916-1955, 1921-05-20

E. Lofthus, was a party to the tram
ing Of the false and perjured affidavit
to be used and which was used In the
supreme court, and in a deliberate
fraud upon the court; they have seen
him, notwithstanding the fact that he
knew those things, re-appoint this
man again bank examiner of h state
Of, North Dakota. I say, is It any
wonder that the business men of the
country that a reputable firm OF
lawyers asked TO- give an opinion upon
the validity and s%oundness of secur-
titles, should hesitate. before they In
! vest trust funds belonging to widows
and orphans. and laboring me who
who have accumulated a few savings,
! in thoee securities when the funds are
to be expended by men who have
f1outed every principle of decency,
and who have deliberately and know
ingly violated express statutes and
constitutional provisions Of the state
and of the United States?
These r very briefly, onne Of
the reasons why the bonds Of the state
of North Dakota have not SO far been
sold, and cannot be sold in the regu-'
lar way, except at a big sacrifice.
Independent Program
What is the program of the In
! dependents with reference to the
bonds of the state of North Dakota
and the construction of the mill and
elevator? hope that no one leaves
with the impression that the indie
%pendents are not pledged to q COM
pletion of the mill. We are pledged
sonally rs I nave often said before, I
shall do everything in my power to
see that this mill is completed. and
completed as 20 as possible. The
program of the Independents in this
election is to provide for the issuance
Of two and a half million dollars to
complete the mill and elevator at
submission Of the constitutional
amendments which will reduce the
authorized bonded indebtedness OF the
state from s19.ooo,0oO to &%7.75o.Oeo:
the proceeds Of these bonds will be
used to complete the bill to complete
the contracts of the Home Building
association, and what is most import
ant of ALTO restore to the schools,
and to the townships and the public
corporations of his state funds which
the Bank Of North Dakota, in viola
ton Of law, and which the industrial
commission. in violation OF law. has
! tied up for Thirty years in loans upon
real estate. These bonds are a clean
straight North Dakota bond, vhlcf
will sell at a hundred cents on chs
! dollar.
Last March the bonds ct the szts
Of South Dakota were upon the ma
ker and listed by EaIsey Stewart &
;, Co, OF Chicago at ie1 cents n hs
dollar. The state IF South DaEcz !
|, not richer n II, Sc-.
, Dakota; there e no -sasoa Il IN
world why the bonds 81 the safe =
:. North Dakota should nc- sci = n:
: sane figure as Z bends ct -ss Ez-
of South Dakoz- provided 1hs bod
, are properly issEst- and 4ce .l- -st-a
ed & as 30 give ne EvEE-1ng l.n.n
the impression :har fas- pzy-z-
in any sense cccGrEs1t Ertan z Sgt
cessful and psosrzbGe ope-z@a % In
industries for she 1al Gg-
:. pletion Of which tneE srs ssz1.l~
Rural Credits BeaH
The pros-zl Of tie L4ass@as-.
contempLa,es -ae III. II E TEE
credit board. 1..c1 vii E-sc -nnr
cost. and the izsEsnCa II alEn>S -as,s
for. These co.5z- e / EE5. ws.s -s.
I'd at 101 cents 81 ~. GrETlsr Isz
March, and the E.z.e u ss7-11 lsIk-.r
has loaned cre> sss.sdsb4ptH 20 II
farmers under rhsG- C-sl Gs1- Es
ten at actua. cc Tas E.sls irs-
Of the CniverG.y srt sce1o- zazda /.
North Dakota has Icsas6 onE $500
900 at five per csnc Of gAsoz 9
I o the farmers Of -hrf Fzns Z.
loans made by the bank Of 1sc-Ll Ds
kota have benefited nc ~ - 1su
been a. costly ar1 1.zzs,c-s eze-
meut. rs far as the people cT zs-z ssz-
are concerned.