The weekly times-record. (Valley City, N.D.) 1912-1922, 1921-12-08

permitting the payment OF taxes IN
two installments is largely to blame
as this law has placed the county Of
fic;als six months behind in the COL
lection of SO per cent Of the taxes
This SO per cent represents the, differ
ence between keeping the schools open
the full school year and forcing their
closing. In an agricultural state such
as this there is no necessity for split
ting the payment of taxes into two IN
stallments as the returns from farm
ing operations come in in one INSTALL
ment and payment of taxes should be
made from the receipts at that time
We can see no advantage to anyone
from this law but there are a great
many disadvantages. Under these
conditions we can see no benett to
the state at large in keeping the law
on the statute books and think that It
should be repealed at the first oppor-
tunlty.
The Stutsman County Democra:
wants to know why is McCumber!
1t saws no action has been taken To-
cally. or otherwise, toward an answer
TO that question. This is question
which cannot be ignored and the rank
and file of both the democratic and re-
publican parties will rebel at another
Mckenzie McCumber-W deal. The
question is already being asked VINO
is to drag down the big money TOR
helping Senator McCumber to retain
the office?" McCumber deliberately
double the independents IN the
recall election. Isn't it time that the
independent EXAMINATIONS took some
action, to at least show where they
stand on the matter. The question OF
"Why is McCumber?" must be an
swered. 1t must be answered soon
And it must be answered right
Thus says the Democrat, and it asks
pertinent questions. McCumber is
getting out of harmony with condl-
tions in this state. He is forcing upon
the people men for the various ap-
pointive offices that are not the cholce
of the people and men who are con-
nected with and are part OF the Mc-
Kenzie- Nc umber machine. MS
steadfast stand to force the appoint
ment of Andrew Miller for federal
Judge on the state contrary TO tne
wishes, of the people is one thing that
puts him in bad. He never comes
here only when he wants reelection
He never lifted helping hand tor the
when they needed help
he is utterly selfish and cares nothing
for the rest of the people. He is
said to have decided upon Jim Shea
another Mckenzie lieutenant, tor Y. 5
marshal. He is said to have lined up
several of his old time machine friends
for other positions and seems to lg-
more many good men who have fought
hard to regain North Dakota from the
socialists. 1t is time to call halt
The question of the Stutsman County
Democrat "Why is McCumber' IS
timely and pertinent.
Press dispatches indicate the modl-
fication of the bond sale contract be-
tween the state and Spitzer-Rorlck u
Co.. This contract was entered into by
our late industrial commission during
their last moments in office. AS the
contract was not advantageous to the
state under present conditions IN the
bond market a great many people
have wondered just why the old in
dustrial commission was ANXIOUS to
complete the sale before leaving office
This action is still unexplained. I'm
der the terms of the old contract the
sale of all North Dakota bonds IS
sued during the next fourteen months
would have been handled by Splitter
Roricl & Co., at the terms as set forth
in the contract regardless OF the con-
ditions in the bond market. Bonds
were to be delivered to the company
at stated intervals whether the state
had immediate use for the money or
not. A total of $12,300,000 worth Of
bonds was covered by this contract
The new industrial commission has
entered into modification of this
which will withdraw $6,-
100000 worth Of bonds from the old
contract and will permit the delivery
of the balance, $6,2OO,O00, as the
money is needed. This will result IN
considerable saving to the state on
interest accruing on the bonds be-
tween the time of delivery and such
time as the moneys realized could be
used. The new contract calls TOR the
immediate delivery of $50O:00O Of real
estate bonds at par, bearing an inter
est rate of ga per cent which is Ia
percent under the rate as specified in
the old contract. This will be all the
money that can be used at the present
time in this department. The new
contract provides for the sale OF
S4OO 900 homebuilders bonds as COM
pared to 100000 specified in the old
contract. The administration believes
that this amount will suffice for the
present in cleaning up the debts in
Cured by the former commission. One
million dollars of the mill and elevator
bonds have been withdrawn as the to-
tai amount, $1,000, 900, could not have
been used for many months and the
new commission feels that these
bonds may be sold on much better
terms before the money can be used
On taking office the new administra-
ton was badly handicapped by the
action of the former officials in COM
pleting the sale of bonds just before
leaving office on terms which would
effectively tie their hands for the en-
81 AtNNxy