The Sisseton weekly standard. (Sisseton, Roberts County, S.D.) 1892-1929, 1921-10-07
FARM LOANS TO BE RESUMED;
WALL STREET BOYCOTT BROK.
EN-; CHICAGO AND NEW YORK
OFFICES OF RANK no BE CLOS
m: GOOD OFFERS RECEIVED
FOR OTHER BONDS AND
STOCKS

FOR OTHER BONUo AND
STOCKS
New York. Oct. s.-The State Of
North Dakota has won its financial
fight OF more than two years to dis
nose of it's real estate series of
bonds.
The unsold balance, 1t was an
nounced yesterday by the Bank OF
North Dakota, has been bought by
Splitter, Rorick & Co. of New York.
The bonds will be offered for public
subscription in the usual way at 1O1
and accured interest, yielding 5.75
per cent.
a statement issued in connection
with the sale of bonds, said 1T ter
minated zone of the most dramatic
campaigns of recent years, in wall
Street" The fight began in the
spYing of 1919, when the North Da-
l1ota legislature, then contolled py
the Nonpartisan League, authoriz-
ed the issuance of the bonds as
means Of carrying out the League
industrial program.
The bonds were sold to Halsey,
Stuart & Co. and w. r. Compton, OF
Chicago ON q five basis. While the
details incident to the delivery Of the
bonds were being concluded politi-
cal opponents of the Nonparttsan
League brought tax payers suit TO
block the sale and to test the constt-
tutionality OF all Of the important
laws passed by the League.
The case dragged thru the state
supreme court and the United States
supreme court and the validity OF
the transaction was established. In
the meantime. the bond market had
declined, interest rates had advanced
and the Chicago financiers could not
be held to their bargain. New bonds
ut . higher rate were issued but h-
uanciers were shy Of them and GUS
toners could not be found.
Begin Campaign Of Education
Minneapolis bankers tried to ef-
feet a compromise in order to re-
laasa the frozen credits in North Da~
kota. an organization fostered BY the
stAte ana part Of the Nonparttsan
Lsssus's Industrial program. hnaily
o,eaaA an once In the Equitable!
Building, New York: and set about
selling the securitals.
There had hsA1 much rscrimin-
alton, and these1 picion and spretu-
dice created by litigation c6ntin-
ued. North Dako fclaimed there was
= blot to wreck 5 state while imam
ciers deci.red& the Nonpartisan
League had seSSut on a course that.
VA bound tlbring disaster. The
Bank Of NORTH Dakota. thru its New
YORK ofice, beyan a campaign Of the
bonds. AccoEaing to the announce-
ment NADER terday, this campaign
has been;s sssful. !.
eve how permitted to an an
nounce, :. Ia F. W. cathro Of the
Meth DaNpta bank in Bismark yes
terday, .sthat the Bank Of North Da-
kota has recently soid to spitzer,
Rorick q Co., Of Toledosa block Of
s1:soe;1oo of real esfats bonds and
abotix- $500 900 OF mil and. elevator
bol1ds with $500. 900 more Of the lat
tor bonds as good q sold as soon "a
they are engraved and printed.
nm addition We have good offer
fofly1 200, 900 for Bank oftNorth pa
- took on the same terms . It
- recently been sold at. We have
sold this however as We think We
ret . bsttsr e1sr now that the
4 sekbons Of the opposition 70 the
aak Of North Dakota has,1eel brok-
a..'
3 n also announced tAst IN short
xtlas the hank would resume mak-