The Bismarck tribune. [volume] (Bismarck, N.D.) 1916-current, 1921-01-29
HOUSE HEARING
RULES0N AUDIT
ARE COMPLETED
Any Member of Committee May
Suggest Witnesses to BE
Called in Probe
NJ AY BEGIN TUESDAY
Rules of Evidence Obtaining in
Courts Will Not Be OBJ
served in Probe
NJ AY BEGIN ESDAY

ANY memDer OF the committee O1
nine OF the house may suggest wit
nesses to give testimony in the com
mittee probe OF state INDUSTRIES.
This was announced today, follow
ing a meeting Of the committee in
which rules or the forthcoming inves
tigation were made.
vt also was decided that formal
rules OF evidence will not obtain as in
courts, and that no witness may be
represented by council.
The public hearings probably will
begin Tuesday morning, it was said
by attorneys, who do not believe they
will be ready to begin Monday.
Two accountants will be engaged
by the committee, it is said, to assist
in the explanation of the report OF
Bishop, Brissman and company and
in the Investigation.
IAN outline OF the report on the
Bank OF North Dakota, which follows
resumes of the report on the Home
Builders and Drake mill, given in The
, Tribune, follows:
Except for the deferred asset rep
resented in inventory Of supplies $l3,-
1888 and accrued liability to ac'
counts payable $S17.59, and some
minor adjustments made by lis the
within balance sheet is in accord with
the general ledger balances at said
date" says the report.
I'VE herein present detailed lists OF
all the material asset and liability
items without attempting to compute
reserves for possible depreciation due
TO doubtful or irrecOveraDle invest
ments or to impose our individual
Judgment or conclusions as to the
present value thereof. Our concep'
ton obligations in this examination
is to present correctly and in COM
'Iplete detail, resources, liabilities of
the bank as carried for your infOrma-
ton, analysis and consideration.
Summary of loans S..
"In detail No. | is presented a sum-
mary of the loans and discounts ex=
hibiting total loans of each borrowing
bank, individuals, and state institu-
tions in the total sum of $3yG43, ,059.O9
and total security therefor.
"LOans to state institutions are au-
thorized by the state Industrial Com
mission as recorded in the minutes
record of the commission. On NOvem-
ber 13, 1920, the minutes authorized a
loan for $l15,G00 to the state Home
Building Association, while according
to the records of>the bank the amount
loaned was $125,OOO. We we're in
formed by Mr.. w. A. Anderson, Sec
retary of the commission, that the en-
try on the minutes of the commission
was an error made in transcribing,
and that $125, 900 was the sum author
lied by the commission.
"You will note by the maturity
dates in the list of loans and discounts
in Schedule Nos. l. and 2, that of the
amount of $2,4v ,645.24 loaned to
banks the sum of $1147,6O7.35 was
past due on December 3, 1920. This
includes any past due items which
may be contained in the list OF closed
banks.
"Of the total amount loaned to ele-
vators, packing companys, and indl.
viduals on warehouse receipts and
storage tickets, amounting to $lO5,-
72200 the sum, OF $o9,l ,lZZ was past
due on December 3, 1920.
Institutional debts
"The state institutions are indebt-
ed to the Bank Of North Dakota in the
total amount of $SS2,716.72, of which
amount $650,00O is owing the bank by
the Mill and Elevator Association;
$225,0OO By the Home Building Asso'
citation; and S7,716.72 by the Indus
trial Commission.
"In Detail NO. 2, is presented list of
banks with which re-depOsits of pub
lie funds have been made by the
Bank of North Dakota in the sum OF
0,899.19.
Statements were mailed to these
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