The weekly times-record. (Valley City, N.D.) 1912-1922, 1921-02-24

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Is it any wonder now that their own
hirelings have testified as to the rot
ten condition Of affairs existing in the
Bank of North Dakota that the nom
partisan members Of the house and
senate tried to block every move to
investigate, hoping to hide the horrid
mess which they we'll knew would be
disclosed were an investigation made:
and the facts given the light of day?
What pitiab1e spectacle State
Bank Examiner 0. E. Lofthus presents
who, although evidently an honest
man, has to admit on the stand that
he knowingly was party to the put
ting over of fake examination Of the
affairs of the Scandinavian-American
Bank of Fargo, and misled our justly
celebrated supreme court which took
the said bank under it's wing.
As the end of the legislative session
is drawing to close, we hope that,
considering the vast amount of unfin-
ished business in connection with the
investigation of the Bank of North
Dakota and the other state indus
tries, the legislature will take steps
to see to it that the mess is cleaned
up and the states affairs placed on a
sound financial basis before adjourn
ment or arrange that an extra session
be called to finish up the business.
If the facts disclosed by the investi-
cation going on at Bismarck, N. D., re-
garding the manner in which the Bank
of North Dakota was conducted, and
the purpose for which the funds were
used by the socialistic incubus, could
be read by the farmer members of
the nonpartisan league-who are not
leaders but followers of Lemke:
Cathro, Frazier, ct al it's a moral
certainty that by next fall it would
be impossible to find enough nonpar-
tisans in the state to hold quorum.
Now that the legislative investiga-
ton has uncovered the putrid mess in
the Bank of North Dakota, and its
connection with the Scandinavian
American Bank, which from all ac-
counts financed the various nonpar-
tisan league political industries; we
wonder if the farmers who signed on
the dotted line-for several thousand
dollars each-realize that they are
holding the sack? For where is the
money coming from to pay those notes
now? Wake up or you perish.
Bank Examiner Lofthus, who was
under orders to appear before the in
vestiating committee at Bismarck
yesterday, failed to make his appear
ance to be further questioned on what
he doesn't know about the insolvency
of the Scandinavian American bank of |
Fargo. In the light Of his previous
testimony if we were in Mr.. Lofthus'
place we would keep going and never |
come back. Heuhas shown conclusive
w that he is not to be trusted In !!
public places by his covering up
Shady financial transactions in regard
to this bank and in his deception in
his report to the supreme court. We
can hardly blame the man for not ,
showing up.
The school board at Nome had a
lively meeting recently to consider the
proposition Of garnisheeing the sink
ing fund of the school district which
is deposited in the Bank of North Da-
kota. The board failed to act in the
matter, however, and the money is still
locked up in the state bank. They are
evidently getting their eyes open
down at Nome which is one OF the
hottest beds of nonpartism in the
state. There are lot Of good people
down there who, after awhile, will dis
cover that it is possible that the indie
pendents were right and they were
wrong. It will take some time of
course, but the clouds are slowly
eclipsing this new day system Of fin
ancing for politics only.
In view Of the admissions made by
Director General F. w. Cathro of the
Bank of North Dakota, and o. E. Lof-
thus State Bank Examiner, before the
legislative investigating committee re-
ative to various notes of the nonpar-
;isan organizations which it now ap-
pears were and are in the Bank of
North Dakota, it may be we'll to re-
,resh the memory of our local and
county nonpartisan leaguers, that in
eply to our statement printed in these
columns "That it was easy to get
money from the Bank of North Da-
zota for political purposes, etc."
Brother Cathro over his own sigma
ure on the .21st Of October, 1920, said: {
This is an unqualified lie. No nom {
artisan in Barnes county or any 9TH
r county ha,,3 gotten money from the
tank of North Dakota for political {
Just read the testimony of t
'rother Cathro, and our state bank
hammer, and then you can decide (
hose lying. ,,c
The Fargo Courier News fails at ,
1is time to print any Of Mr.. Cathro's {
.stimony or that of Mr.. Lofthus or r
ny other person who has testified be- q
IRE the Investigating committee at 2
ismarck. If the league organ had +
lie least idea Of being fair to the peo-