Grand Forks herald. [volume] (Grand Forks, N.D.) 1916-1955, 1921-04-23
Between December Is And
April Is Redepo.it. Are
Dropped From $685.
490 To $3,474,959; The
Statement Shows $780,
7o5 In Unpaid Checks.

lne Bank OF NOrtn D8kOta mas
nearly half of it's re-
state during the last four months the
monthly statement issued by +. w.
Cathro, manager and director general,
as Of April Is shows.
On December Is last the Bank of
North Dakota had $6,60s.490 re-
deposited in the private banks within
North Dakota. On April Is these re-
deposits had fallen to $3.474,959, a
drop<of $3,I33,431, or nearly one-half.
This means that the danger Of the
Bank of North Dakota being able to
inaugurate any financial reign of ter
ror in the state by wholesale with
In the same period the number Of
banks In which the Bank of North
Dakota had funds redeposited dropped
from sos to 573, all redeposits thus
having been withdrawn from 232 of
the banks Of the state. Complete
Withdrawals from ss banks took place
during the last month. This is prob
ably due in part to raids" such as
were made by the Bank of North Da-
kota in Grand and Oliver counties.
A statement showing the distribu-
tion Of redeposits at the present time
would be interesting as showing what
proportion Of the funds withdrawn
recently have been taken out of the
81 favored league banks.
This months report shows that the
financial structure of the Bank Of
North Dakota is continuing to
crumble steadily, and that the process
Of involuntary liquidation is pro-
crossing.
The footings, total assets and liza
bilities Of the bank continue to drop.
During the last month the drop has
been $449,539. On March Is the foot
ings were $13,334,974 and on April
however, is the drop during the last
four months. r
One Of the interesting features of
the report is the item Of individ ual
deposits. When the Bank of North
Dakota was opened to individual de-
posits in February it was predicted
that there would be tremendoul
rush Of depositors, but the bank state,
ment, for the following month showed
an increase Of only some $4,000. the
tossS r1ssss sssso .;naiv nal deposite
being &25S. S.494fon March L., as com.
pared wtth$245,146 on February 15.
This month there has again been q
slump, the individual deposits having
dropped to $247,037, leaving a net
big drive for individual deposits be-
gan.
The report shows that checks
amounting to $139,705 have beer
registered" since that policy was be
gun. This means that the Bank .o1
North Dakota has refused payment or
checks to this amount, although the
subdivisions or departments issuing
the checks have funds in the banl
sufficient to cover them.
There is steady slump in thu
amount Of public funds deposited il
the Bank of North Dakota except ir
the case Of state funds which hav,
gone up as a result of the paymen
Of state taxes.
During the last month the deposit
of public sinking funds fell from
s3,559,1e5 to $2,935,79s, a drop o
SS23,366.
Public funds of county. city, town
ship and school treasurers have fallel
from $3.6S7,64S to $2,S60,129, a drol
Of $S27,44S, while the deposits of stat
funds have increased from $3,109, AYE
There has been an increase of S.,
900 in the amount loaned to state in
dustries which now amounts to 81,
100000. and the cash items due from
the state and public corporations ha
increased from $36,720 to $155,72
during the month.