Grand Forks herald. [volume] (Grand Forks, N.D.) 1916-1955, 1921-01-26

49,
Fargo 1444,1as::42s heavy depoelata
and lcaRasaresshDWn Tor asnun1ber g
other banks ssinSathe state closely af-
ftatedt With the sNonpartisans league.
III regard the efforts Of the audi
tors to check up the statements OF
the Bank of North Dakota with those
Ilof the banks with which 1t had rela-
i286 banks ito which inquiries were
addressed In the case of eighteen
from which replies. were received dis
screpancies were found. On account
;7of lack of time it wa found tmpos-
sible to reconcile these. Further
ssanalysis OF this part ofs the, report at
this time is Impossible without q
thorough e~xananation of the figures
given.
Report on Builders Association.
InMregard to- the Home Builders
tnssociAtionsthe comment made by the
auditors issin part as follows:
Owing to the incomplete, and de-
ficient condition OF the records and
the limited time at our disposal: a
complete and comprehensive audit
was not possible. a
In. schedule MOI 2 is presented a
list of,Ichecks issued for which no sup
porting invoices were found In the
files or produced for examination and
representing O total disbursement Of
$57,9S5.72. ;.
~ Attention isscalled to the fact that
the of the Home Building
association of North Dakota vas au-
thorized by the state industrial COM
mission at it's meeting on April z.
1920. to employ such assistants and
Install such office system from time
to time $ might be necessary and
t oEer1ploy to that end, experts con-
Iversant with the installation Of such
system as might be required; that on
! December 8, 1920, the installation OF
anSadequateA system OF accounting had
4 lot been completed n the records
and. accounts were yet in an incom-
plete and unsatisfactory condition.
lowing to the fact that no cost
system had, been maintained, 1t was
impossible in the limited time at our
disposal to determine the cost of the
individual buildings constructed or in
! process of construction. The total dis
t.bursements OF construction purposes
as exhibited in the statement of cash
transactions following was in the sum
rof $311,119.62. f ;
s4 Inventory Taken.
81 ..ArlEinventory was taken Of the ma.
ssSterfalspn hand at Fargo, Hazen, Grand
4 MA ; dlu DAsIAdASn
! amounting $3.50, 132.59.
I ION account Of the deficiency in
the records and files referred to and
the limited time at our disposal. nc
! attempt was made to. determine the
! amount. If any of outstanding &C.
| counts or contracts payable. "
With, one exception. no contracts
were found in the files with individ-
uals for whom homes had been OF
were to be built and we were informed
by Blakemore that the form for such
contracts had not been decided upon
The contract of records was with Johr
B. Adams of Bismarck. dated Septem'
Der 10, 1919, in which the value Of
the home was specified as $1,000.
mo mortgages such as specified If
the. act were produced or found by
us in the files. We were unable t.
find any contract record with individ'
ual home buyers, showing amount o,
original contracts, terms thereof. pay
ments due and as made and whether
fully paid or delinquent.
j Bond Not Renewed.
"Attention is called to the fac
that the bond of Mr.. Blakemore II
The sum of $4,000 expired on Jul!
! 15,,M92O, and apparently has not beer
renewed.
I'VE were informed by Mr.. j. e
Adams, the bookkeeper, thai In or
ii der to take. advantage of the caSl
discounts, invoices for such materia
as lumber, etc, were some times pait
in advance of receipt Of the shipment
but that no receiving records wer'
maintained prior to November 1, 1920
from which the actual receipt of tn
material could be verified. r,.&
I'VE respectfully recommend fol
your consideration the d~esirability o
such further examination as will per
nit notification and computation o
costs of Individual construction unit