Grand Forks herald. [volume] (Grand Forks, N.D.) 1916-1955, 1921-01-08
LElMKE| I! !, !, TO GIVE
HIS ANSWER TO
BANKERS | ! | ! TODAY
No Doubt But That Answer. Y /.
Will Be Refusal Of the I
Terms Offered.
Would Mean Falling Thru
Of Plan For Sale of I
..:S !. @ State Bonds.
tBy stan Correspondent J

Bismarck, N. D., Jan. S.-Attorney
General William Lemke said this
morning that d formal answer would
be made this afternoon to the pro-
.posals made Friday afternoon by the
committee representing the bankers
of the state at conference with the
state officials. .. =,
- Mr.. Lemke said that the reply Of
.he administration would be formu-
eated at a meeting of the industrial
commission to be held, late today and
hat 1T would in all probability be a re-
.usal of the conditions offered by the
bankers. 'E&
'''The governor has said that there
can be no compromise on the indus
trial program" declared Mr.. Lemke.
''He has not been known to change
bis, mind over night and the Industrial
commission will stand with him.
Similar views were expressed by
other Nonpartisan league leaders and
there appears to be practically no
of the conditions, with the possible ex-
ception Of one or two minor points.
This will mean the entire falling
through of 1.-THE campaign to sell state
bonds, the members of the bankers
committee say, and also will prevent
the projected activities Of the bank
ers' finance corporation. which. it was
4AOpCu Woulu DC VI lCdA UCICAAL W InS
state in it's present financial situa-
|! ton. - - ,.
The Proposals.
The proposals submitted to the state
officials by the bankers committee
Friday, were as follows:
ITO the. Honorable Governor. the In
dustriaI Conmission, and the Bank
of North Dakota:
| THE committee of bankers invited
under date Of December 80. last, to
Iconfer with you with view of de-
yising some means of selling valuable
securities and bettering the financial
situation throughout the /. state; we
| beg to- submit the following: lS
! Through the numerous conferepGes
aaFs asst IT sid t. aPpeafH the
most mime diate and important guess
tion is the sale OF the several issues
of the state bonds now being offered.
| The bankers Of the state have
earnestly endeavored to assist in the
sale of these bonds but SO far with
out success. The; administration has
also been unable to sell them.
The bankers have ascertained the
condition under which these bonds
could now be sold by them, and with
/: those. conditions. before them. make
1.-THE proposition.
# fIuE UduhSAo "ou'u uhueA IohS ~
: sell -,
: Three million dollars of farm loan
bonds. as well as the balance of the
i$1O,000,00 as reasonably. needed and
the market will absorb.
| Two million dollars of mill and ele.
vator bonds to complete and put ir
i operation the Grand Forks mill ant
i elevator. ''.
i Two hundred and fifty thousand
i dollars of home building bonds.
4 One rillion dollars Of the Bank o.
North Dakota bonds.
To bring this about, it would b.
4 necessary on the part of the admins
= tration-
/. To limit the operation of the Banl
Of North Dakota to the administra
ton of state, state institutions, ant
state industry finances, farm loanans
4 farm loan bonds. @e ~
To nrnc,re the enactment Of .
nou denositorv law for Counties
oboo, a;str;ots ,oo.ds -
.. soMsps' s.,,H sIool VS., a 10 ~
ieuueal.ou, SAass civ ..es' -" MI NIL
every goins oanh periianeht pup
lie depository ana nxlng the rate O
assured. ,a,,..
4 To- confer 6; with attorneys Tor bon'
I buyers at an early date, and II an,
or new or amendatory legislation, o
order Of the industrial commission 1
ed res diiv maraetah1e ~ ahI to see % thai oi II :
nrnviGed,n 4 T:01 - -
~ . melting Friday tho admin;stra
! tion was represented bv Gov. Ivn,
interest !. BIZ statute-providing ais,
- :. Mn, o;t,, .s a. = ,s.,,ranna tha
~. ~ p,:.o ." ass au H:s Ina
| usposlss " ~oulu We pfoper's uis'riout
:, =, su.s-6ys $I frst .fS III ~, ~ .t.t .