Grand Forks herald. [volume] (Grand Forks, N.D.) 1916-1955, 1921-06-21
BANK B OF D. ] D|!..
PREP RING 10
Il. ISSUE, !, BONDS |
Real Estate Mortgages havs
Been Turned Over to the
State Treasurer.
REDEPOsITS ARE
FALLING STEADILY
Private Institutions Are
Liquidating Indebtedness
But Footings Drop.

amounting to s1.2s7.34s.s5 to the
state treasurer with sa View TO having
real estate bonds issued: against 1t,
according to #. W.. Cathro's monthly
statement Of the condition Of the state.
bank for June Is. 1921.
What portion Of these bonds have
80 far been subscribed to Ii not shown
The: balance, Of such paper still
carried on the books OF. the bank rs
real estate loans Is .$1,641,841.14.
Private Banks Paying Up.
Outside of this the most interesting
feature of the statement is the rapid
manner in which the private banks
OF the state are liquidating their in.
debtedness to the Bank Of North Da-'
kota, In spite Of which the footings OF
that institution continue to drop
steadily.
The statement shows that during
the last month the private banks have
paid OFF loans from the Bank Of North
Dakota amounting to. $102,517.Se.
It also shows that only 374 private
banks have now redeposits from the
state institution and that these re-
a drop Of $203,646 during the month,
since on May Is the Bank. OF North
Dakota had $2,se1,351.6o redeposited
in 40 private banks Of the state.
Redepodts Drop.
This means that 96 banks have paid
off all deposits Of the state institution
during the last month, and 431 have
severed connections during the last
six months, or since December Is,
1920, when there were sos private
banks with redeponts.
The great majority Of the banks Of
the state are thus; shown to be ''in
the clear" as TAR as the state institu-
ton IL concerned and are free from
any danger of punitive raids i
Footin8s Still Falling. X
During the last month also the
Bank of North Dakota has continued
it, involuntary process Of liquidation,
$l2.l16,S82.27 to $11.677,010.S7. q
drop Of 3s.s71.4o, during the month
while during the last SIX months sthere
has been 9 drop In the footings OF
$6,8Se.1 54:as. S.stti Il.
~ sS, yj ll1ns .S5 I. !.
The drop IN the footinge during the
!s.t asate z lsTssly .sso.,ntsa fos ss
lessss .eess ~. & essssis q 'ssns e
troxn~tha state tnstitution. These Dc.
POSTS during the last month fell ofl
lsfrom 4z;3tti ti417.S3atos$ 81, 1,76S.2 .2e4.03,sa
Edrop Of $5o8,1z3.s5,. . clear indica-
I ton thatS q, large number OF the sub
L dtv10On6. OF the 6tA&e are W1tn0TdW1n&
their funds from the Cathro. institn-
ton as rapidly as possible. 5.5@
other public deposits also showed q
decided falling of during the month,
sinking fund deposits dropping from
$2,622,720.52 to $2,525.990.111' and the
!, state deposits Of general and other
funds on checking account from $3,-
667.922.S9 to $3.640.529.86. Apparent
! ly the crest Of the state deposits was
reached last month from taxes receiv-
| ed, and the decline is now setting in
with the checking out Of the funds tu
! pay the states obligations.
Registered Checks.
Part of these funds have apparent
| ly been withdrawn to pay outstanding
obligations Of the state since the
| checks unpaid and registered now
amount to only $72.873.44 against
/ t93,770.90 for last month. There has
also been a. drop of nearly $4,000 in
] the state treasurer's contingent fund
/ for registered checks.
The loans to public institutions and
! departments have, increased $1,000
! during the month.
! The Statement.
! The statement Of the Bank Of North
Dakota for June is, 1921, follows:
Resources. q.
| 49,. =. j. I d -