The Ward County independent., 1921-12-15

Farm loans will be made much sooner
and on much larger scale than was
expected when the new Industrial
Commission took hold The new
manager of the farm loan department
Of the bank of North Dakota, Wilbur
B. Default, is getting his organization
completed rapidly and a considerable
number Of loans will be made during
the next thirty days. The balance of
the ten million dollar issue Of real
estate series bonds, aggregating more
than seven million dollars, is expected
to be disposed of by the end Of May
next year. The Industrial Commits
sion does not anticipate any difficulty
in getting the balance of the bonds
disposed of, and Manager Default is
instructed to get the money out as
safely and efficiently as possible and
only to actual farmers on con-
servative basis.
The recalled administration made
745 loans to total amount Of $780,
800. There are on hand 562 appli-
cations already appraised and ap-
proved seeking loans to an amount OF
1884 900. These unclosed loans
will be checked up carefully before
they are definitely granted by the new
management. In addition to this
there are on file 979 applications ask
ing for $4,3S1 ,O9O. Of the ten mill
ion dollar issue authorized by the
legislature there remains therefore
only $934,010 for new applicants
until the legislature can take further
action. To this amount must be added
the loans that will be granted in full
or in part under the applications
pending as Enclosed business.
State Looking for Borrowers
State Treasurer, John Steen and
Manager w. B. Default Of the farm
loan department would like to know
the whereabouts Of number of pco-
Pile whom the last administration
granted state loans under the rural
credits law and who have failed to
meet the payments. Notices have
been sent them under the address
given by the Bank of North Dakota
but these have been returned to the
treasurer's office together with
notification to the effect that the per-
sons addressed have moved to parts
unknown. Here is list Of some of
them:
State Treasurer's No. SO, Bank Of
North Dakota No. COG: c. C. Putnam,
who obtained loan Of $4,000 on WIZ
SE1/4 of 22-141-79, Burleigh County;
n;tice Of installment due mailed to
Bismarck, N. D., the address given
by the Bank of North Dakota, re-
turned marked unclaimed.
S. T. No. 229, Blk. No. -116, Chas.
Grippe, $1,000 on E1/2 NW1/4 and w
1/2 NE1/4 of 1S-157-77, McHenry
County. Notice mailed to Bantry, N.
D. returned marked Removed" "Un-
claimed"
S. T. No. 399, Blk. No. 3O8, Wallace
Palahniuk, $500 on N1/2 NE1/4 and
N1/2 NW1/4 Of 10 and SW1/4 Of =
1929, Billings County, notice mailed
to Belfield. N. D., returned marked
"Unclaimed".
S. T. No. 4s6, Blk. No. IT'S, Mary D.
Barnes, $4,000 on SW1/4 Of 25-13S-79
McHenry County, notice mailed to
Bantry. N. D. returned marked "Un-
known"
S. T. No. 571, Blk. No. "a, Anton
Dublin, $1,000 on SE1/4 of NE1/4 of
32-141-98, Billings County, notice
mailed to Belfeld, N. D. returned
marked "Unclaimed."
S. T. No. 573, Blk. No. 472, Jim
Basaraba, $2,70O on NW1/4 Of % SW
ia of 14-141-98, Billings County,
notice mailed to Belfield, N. D. re-
turned marked "Unclaimed'.
S. T. No. 5S2, Blk. No. 1876, John A.
McF Farlane. $1,000 on NW1/4 of 32-
131-102, Bowman County, notice
mailed to Bowman, N. D. and re-
burned marked "Unclaimed."
This would indicate that the new
manager Of the farm department ID
right when he says that applications