Grand Forks herald. [volume] (Grand Forks, N.D.) 1916-1955, 1921-02-23
Testimony Given
By M'Aneney Al
s." Tuesday Hearing

Bismarck, N. D., Feb. 23.-The fol-
lowing is a report of the hearing OF
Louis p. McAneney Tuesday morn
ing before the house investigating
committee:
Louis P. McAneney. called as a wit
ness, was duly sworn, and testified as
follows:
l.. Examination by Mr.. Sullivan.
I @. Just state your full name?
a.. Louis p. McAneney. -
G. You are employed in the Bank
of North Dakota?
A.. Yes, sir.
Q. And in what capacity, Mr.. Nc
Aneney?
A. Credits department director.
C.. Director OF the credits depart
ment?
A.. Yes, sir.
Q. And how long have you been
employed in the bank In that ca
A: Well, practically since its or
9 Ana what, Mr.. McAnency, do
your duties, consist of?
"a. They have to do with all loans
made to banks.
@. And what do you have to do
with them, MI. McAneney?
Ar I don't understand your ques-
ton, Mr.. Sullivan.
O. Well, you say you have to do
with all loans made by the Bank of
North Dakota?
A. Yes, sir.
@. Now, 1 just want. to amplify
that a little, just how do you pass on
them?
A. Well, 1 have. a pretty fair
Knowledge owing. to my experience
as. q deputy examiner. some years
ago, in nos Of the banks In thu
state. - Is
Q. Well. I want to get at the prac-
tice followed in the bank? The banker
who wishes to make a loan for his
bank comes to the Bank ofsNorth Da-
kotN to obtain his loan. Now, just
what part of the procedure in con-
nection with his making a loan do
you have to do with?
A. Well, I nave in most cases
practically all of it.
@. And do you pass upon and de-
eide whether or not any particular
bank, shall have a loan?-
Grants Loans Himself.
a. Often times, I grant the loan
myself, and other times I take it be-
fore the finance committee.
G.. That would depend, of our
upon the amount of the loan, the
bank. and each other circumstances
as you might feel should be taken
into consideration in determining
whether or not q loan should be
made?
A. Yes, sir.
@. And if those circumstances are
such that you do not feel you should
pass on that matter yourself, the1
you submit it to the finance commit.
tee?
: Yes. sir.
@. And the finance committee ii
composed of who?
A. The heads of the different de-
partments.
@. Just who is that constituted o.
at this time, Mr.. McAneney?
A.. Mr.. Cathro is chairman, anC
Mr.. Johannsen. and myself.
!. @. Then the matter Of making al
loans to the various banking institu
tons of the state is either passed up
on by yourself, personally, or by your
self, ~Johannsen and Cathro?
A. At this time, yes.
> Q. How long now, has that prac
: tice been in vogue, Mr.. McAneney?
. A. Well, ever since we started out
G.. That has, at all times. beer
the practice in the bank?
A. Yes, sir.
. 9. Well, have you ever been ava,
from your duties in the bank?
Q. Do ne'' you ea' remember when 20,
were away, Mr.. McAneney?
A.. I am away quite often for TIVE
or three days at a time. very FIRE
quently.
Others Pass on Loans.
@. And while you are absent, VIII.
passes upon the loans?
A. The other members Of the fin
ance committee.
O.. Have you been away for On,
considerable period Of time?
A. Not to exceed two weeks at an!
one time.
@. Well, when were you away tw,
weeks, about when?
A. About a ear ago.
g. In February, that would b.
1920, about that time?
A. Yes, sir.
@. Where were you at that time
Mr.. McAneney? !
gAx Iswas down in Florida. and q
tWashtnSton. D. G.
~ Went to Florida
q. Did you 80 to Florida on IN,
business?
u a. Yes, sir. z
q. And who suggested that 70,
go to Florida, Mr.. McAneney?
"A. Why, I think I could say tha
THAT was on my own initiative.
Q.g&WeIi, did you talk 1t w Will
somebody before you went?
A. Mr.. Cathro knew I was goinl
and other members OF the banl
board.
q. Did you discuss the obiect.o
your trip With Nj. Cathro before 20,
AZ 4 think not. 4 n ii
g Did you advise Mr.. Ca1hro.Esol
tell NJ. Caxhro. whatsyous were Sofnl
EdoNn4for7
I don't think : dfdd.
sTalked 70 CEaiG
80 Wall. who else did you discus
Etts with, III. McAneHey?
a. discussed II with Nj. Craig.