Grand Forks herald. [volume] (Grand Forks, N.D.) 1916-1955, 1921-03-26
ATTEMPT I TO .
CLOSE. GRANT
BANK FAILS
Grant County Banks Able to
Meet Demands Of Bank
Of North Dakota.

Fargo, N. D., March 26.-Out of
Grant county, North Dakota. comes a
story o~fNrernarkable collection activi-
ties by the Bank Of North Dakota, in
which either IA or IS men participant
ca, making q simultaneous drive on
practically every bank in Grant
county only a few hours after gar
nishment proceedings instituted by.
the county had been dropped.
The collection scheme, so handled
as to cause the greatest possible. en-
barrassment to the banking institu-
lions affected, did not result in the
closing of a single bank, though the
collectors who appeared at each bank
at what apparently was.' a prede-
that they would have to pay imme-
diately all demands upon them or
suffer the consequences-the conse-
quences referred to being those
threatened by the Industrial commits
sion in a resolution adopted several
weeks ago, namely. closing their
doors. . go
About $4,000 in ash was taken
out Of the Grant county list of either.
nine or ten banks in the spectacular
drive which was followed up a day
later by a similar drive on a group
of banks in Morton county. the funds
in which also had been garnisheed
ny Grant county.
The collection scheme put into eff
feet this week by the Bank of
North Dakota has the appearance of
being in h nature of a drive in
tended to close rival banks; it's in
itial failure to effect this, result may
alter the plans Of the industrial COM
mission II officers Of the Bank of
North Dakota SO far as employment
of the scheme in the future is con-
cerned.
Carried Currency to Carson.
The sensational collection scheme
was put on by the Bank of North
Dakota emissaries after a long ex-
animation of the records of the
ceptance by. the treasurer of about
$4,000 in currency about l a. m.
Wednesday of this week. the cash be-
ing proffered to the treasurer as pay
ment in full of moneys due to the
county from the Bank of North Da-
kota. y
This currency was produced from
a grip carried to Carson, the county
seat of Grant county, by Fred Davis.
representing the Bank of North Da-
kota, and was delivered over to the
treasurer of Grant county after the
group of even deputy bank and
county examiners had spent seven or
eight hours checking up the Grant
county trcasurer's records %reconcil-
ing the amount due to tho county
from"the bank with the records of
both the county and the state bank,
Make Visit at Same Hour.
K. Twelve hours later. soon after the
banks had been notified that the
county's claim a been settled and
that the g"arnishmcnt proceedings
had been dismissed. the Bank of
North Dakota's. collectors appeared
at each bank in Grant county. The
collectors made demand for payment
in currency of the claim held by the
Bank of North Dakota.
If the Bank of North Dakota of
ficials and the industrial commission
members expected to force the clos
ing of the private banks to sup
port their plea that the reason the
Bank of North Dakota is refusing to
pay checks is because the private
banks have failed to repay sums due
to the state bank. they failed to at,
tain their objective, for every bank
was able to pay to the state bank
every dollar owing to that institution