The Bismarck tribune. [volume] (Bismarck, N.D.) 1916-current, 1921-01-26

Are Merely Outlined-Liabilities of Closed
Banks Listed.
The audit report of Bishop Brissman company now in
the hands of the state board of auditors house. opens
industries
The report is regarded by Independent members of the
house committee of nne after examination of it, The report
contains of figures regarding the examination the Bank
of North Dakota with but little summary and conclusions and
the yecaton Of the oans value of securities and
similar banking practices will be subjects for the investigating
committee
How Independents View It
Independent members of the house committee believe the
audit reveals situation that calls for exhaustive examination
Bishop rman and company makes conclusions regard
ing the law governing the bank operion and changes in
the law the committee expected conclusions on
the matter of future legislation
Nonpartisans' Attitude
Nonparts1ns after examination of the report night
by state officials appeared to be of the opinion that the audit
had not revealed any such situation had been charged
The house committee announced it had employed attorneys
John Sullivan of Manan, and Francis Murphy Mnot
aid in it's investigation and had engaged c. Wattam and
sse so as reporters to make transcript of the evidence
Accountants also will be employed.
To Use Attorney General
Senator Ieerbac head of the committee the
attorney office furnish attorney his commit
The report by industries:
BANK OF NORTH DAKOTA
The examination by accountants date of Dec 3 shows
524 loans to banks of which 81 35 was past
due that date OF S105,722co loaned to elevators ndvn
ais, packing companies, etc, SGo, 100 was past due
Loans TO Industries
Loans to state industries total $3.50 1852 divided fol-
lows: Mill and Elevator association $G5OOOO Home Builders
$2:425,O0O; Industrial Commission, $7,7lG72
Two hundred and eghtyvc banks failed to reply to Bishop
rssman and companys request for verifcation of their bal
OF those that replied discrepancies shown in the
of Is.
Liabilities of Banks
Liabilities of twcny-ree closed banks with the Bank of
North Dakota at time of examination totaed and
liabilities of banks closed since that me of Dec 3, to-
closed banks of S917,7SSSs.
1t will be urged by critics 1edeposts in
banks show favOrs has been charged The largest
edeposts apparently held by the
bank of Fargo which has figured prominently in allegations
garng the Bank of North Dakota The report showed rede
posts 97471 and loans of S2 1521 total of $444
2742 Names of banks generally which redeposs made
withheld from publication
Redeposts Listed
The list cdeposs of $4,000 over which independents
will claim bears out the charge OF favortism includes amounts
in banks taken at random follows $59242S2 $21 094S6
$35 75 s4os1o23; 81 $3.50; $lo$ 1924; $5l4e74
loans and special deposits incomplete shown out
standing in the amount OF S3O7 300
Amortization Plan
Under the amortization plan of repayment OF farm loans,
which conepaes repayment in 30 years. there would be at
time s266o out of each 81 900 loan sail unpaid
due to- a faulty amortization table, it is said.
Of first payments farm loans due in December amount
ing S43O4 total of $S53 had been paid This
cause the investigation of the security of hundreds OF
The 81 OOoOOO which the bank borrowed from a Chicago
bond house putting 81 of state bonds collateral
becomes due March ), 1921.
Pixies Bill
Sometime ago publicity given Auditor Kositzkys
us pay bill of $71672 presented by the Bank OF North
Dakota for an amount Fred Pike attorney of ST. Paul. who
appeared 4 case The audit report states
that accounts there overa Of $1OO his account
and adds that properly overlra represents
balance on an of $62 for legal services of which
s771G2 paid by authorization of the Industrial Commits.
sion, as a loan to the commission
HOME BUILDERS ASSOCIATION
Stat of Builders
shows disbursements 37G99S and overdraft OF $50
732 GO with the Bank of North Dakota.
Eypcnlitur,s were made from these funds: SS41'2G2
brought forward the balance of the home builders apIo
on