Grand Forks herald. [volume] (Grand Forks, N.D.) 1916-1955, 1921-03-16
ANOTHER LEAGUE BANKRUPTCY.

The announcement of the insolvency Of the Cousum-
sere Stores company, and the appointment Of a receiver
to take charge OF its affairs. will surprise very few people.
Those who have been able to take q disinterested and dis
view OF the concern have known along that as
than fail, and that its chief purpose was to afford ono
more means Of holding farmers together and extracting
money, from their pockets to be used in the numerous
political ventures in which Mr.. Townley Is engaged.
Those who were nisled into the belief that the Con-
suraers' Stores enterprise was = bona tide business enter
prise. and that tho money which they contributed to IT'S
financing would bring substantial bensftt1 to them, have
long since been disilluhoned- Notwithstanding the i'm.
concern. At the rate OF 500 per subscriber, there have
been established throughout all North Dakota only 81 Of
these stores. and II there is one in the lot which, after its
many months Of existence, is fit to be classed as a repre-
sentative business institution, We have heard Of no such
case N
1t has not been at all a difficult matter to find one
Of these stores. provided the seeker were aware that one
existed in the town which he visited. The stranger need
only take a walk through the business district, not over
looking the extreme edges thereof. decide what store In
the town Is the meanest and %shabbiest in appearance.
glance in and make sure that the interior is as uninvttiug
as the exterior. and walk in. He will be pretty sure to
find somewhere a Consumers Stores sign or some other
evidence that he has found what he sousht,
These stores-unless there are exceptions of which
we have not heard-have carried small stocks Of goods Of
inferior class, and the very people who have put up the
money for them have long since ceased to visit them ex-
cept tor. occasional minor purchases, tor they have learned
that the variety and the quality Of goods which they de-
sire are not to be found in them.
It Is apparent. therefore. that even those who have
invested in those peculiar purchasers certificates 1T 500
each have long since quit expecting anything Of the stores
which they helped to create, and must have bean pre-
pared to learn at any time that the whole institution had
gone the way Of other Townley ventures. Z
The farmers in various sections Of North Dakota
have been induced to put up good hard money to finance
a number Of alleged business ventures organized by Mr..
Townley or those Immediately associated with him. ~. They
have financed automobile purchases to the extent Of
many Thousands Of dollars. It has been represented to
them that they would never be required to pay the notes
which they signed They have paid those notes, or will
be compelled to pay them, IT they have property sufficient
to meet the charges. They have invested money in the
Observation-Disclosures Bank Of Fargo. the Peoples State
Bank of Grand Forks, and several smaller western banks
which have been used for political purposes. and their
money is not locked up in closed banks. They have put
their money iuto Consumers Stores, and that corporation
ts insolvsnt and in the hands OF a reeeiver. They have
paid ont money to establtsh and operaxs a Grand Forks
Amsrican. and that concern has been closed for months
They have financed numerous other newspapers through
ant The STATE. md many Of these have either given up
The ghost or are bsins kApt alive by the further contrt-
buttons OF the Victims.
ThAeA are aans Of the things for which North d.
10tanss ch3sfly farmers, have to thank Nj Townley q
tAs pe4zns tnaaSator. Whom tasy st to thinking over It