The Oakes times. [volume] (Oakes, N.D.) 1906-current, 1921-12-22
STATE BANK HAS
ANEW MANAGER
c. r. Green of Cavalier Appointed to
Position at Salary of $4,000
Per Annum
DRAKE MILL LOST $500 MONTH
NestOs Announces Selection of Con.
verse as Tax Commissioner

NestOs Announces Selection of Con-
verse as Tax Commissioner
| G.. K. Green of Cavalier, Pembina
county, one of the best known bankers
of the state, has been appointed man
ager of the Bank of North Dakota,
with a salary of $4,000 year. There
will be no director general any more,
Cathro and his $4,000 salary being
the first and last. Mr. Green is pres
ident of the Merchants G. Farmers
bank of Cavalier and vice president Of
the Bank of Hamilton. He has been
president of the state bankers asso-
citation and took leading part in all
Liberty Loan drives. The selection
of Mr.. Green completes the major ap-
pointments of the industrial commits
sion, Wilbert B. Default having been
chosen as manager of the farm loan
department, Lewis F. Crawford sec
retary and A. Myklebye agent of the
commission in charge of the mill and
elevator at Grand Forks.
The retired industrial commission
was in receipt of report of the con-
dition of the state owned mill at
Drake which was not made public.
The audit was made by the Equity
Audit company of Minneapolis and
submitted to the former industrial
commission. The report shows that
the mill lost money at the rate of
$2,500 month, or Is cents on each
sack of -four manufactured. The loss
from January to October Is is given
as $21, ,712.42. Besides, the mill will
lose $4,000 on storage account. or on
-four out on consignment not sold or
not paid for. The same firm audited
the mill account for the last year and
found that the losses then amounted
to s17,668.31. The audit company re-
commended that the mill be sold.
Governor Nestos also announces the
appointment of C. C. Converse of
Williston as tax commissioner to sue
ceed George Wallace Mr.. Converse
is an able and we'll known lawyer, pro-
gressive in politics, man of high
ideals and fine sense of public duty.
He was one of the majority of the
house who in 1915 most actively fought
the Heckle bill which proposed to do
away with the nom political tax COM
mission.
Nine states outside of North Dakota
have been benefciaries of the North
Dakota rural credits act, according to
figures compiled by Carl r. Kositzky
of the farm loan department and pre-
sented to Wilbert B. Default This
investigation is not yet completed and
in the opinion of Mr.. Kositzky it is
very likely that the list of states will
be much larger before he gets through.
Loans made to people outside the
state, so far reported, run up to a
total of s93,175.00.
The bonded debt of North Dakota
has been reduced to the amount of
s45, 900. The redeemed bonds belong
to the old 41a series issued to refund
the capitol building warrants, s25, 900,
the penitentiary warrants, $4,000,
and the university warrants, $4,000.
All of them fall due in 1927. The re-
deemed bonds were taken up by the
permanent common school fund which
now has $45,OOO Immediately available
to assist local common school activ-
tiles. "The reason for paying off these
bonds now," said Treasurer Steen, "is
that the state had the money in the
sinking funds and by paying it over
one per cent is saved for the taxpay-
ers of the state. Besides, the school
fund can make better use of the mon
ey in assisting local school districts"
A warning against promiscuous or
ganization of creameries and cheese
factories under present conditions is
seen by State Dairy Commissioner
Flint in the history Of such concerns
in like periods in the past. Records
show that every period Of financial
depression or successive crop failures
has been followed closely in North
Dakota by an increase of interest in
dairying and in organization Of cream
cry companies and cheese factories.
Most of them failed. The first wave
came before North Dakota became a
state. The financial panic Of 1893 was
accompanied by similar wave. Dur
ing the period of expansion from 1900
to 1910 in the state there was an es-
pecially large number Of creameries
formed. In each period of depression,
according to the records Of the state
department Of agriculture, creamery
sharks" have promoted various cream
cries, most of which went out Of exist
ence within a short time.
l Mr.. Flint asks if, in the light of
past experience of the state, it is not
better for the farmers to devote more
time to improvement of the herds, bet
ter feeding and greater production
studies than to invest money in cream
cries and cheese factories, most of
. which are apt to be short-lived.
] Miss Reardon will spend her holi-
J. day vacation with her parents, who