The Bottineau courant. (Bottineau, Bottineau County, N.D.) 1895-1929, 1921-10-06

j Unlvu VI ~. y. NUT
| READY TO PAY CHECKS
The Bank of North Dakota is nov
j in position to pay all registered
i checks and all other les:.sm.te de-
mands On it according to announce
nse:lt made i, Dilcc: General F. w
i Cathro last week. About $175,O .o1
registered chicks, remained uppaid al
THAT time and these wre then being
paid off as soon as presented with in.
terest at the rate Of six percent from
the date of registration
/ Payments from the firemen's funo
and the state motor vehicle fund have
lnoW also been made in full.
The continued success Of the
| bond sale and the rapid increase
in individual deposits indicates
that the farm loan department Of
the Bank of North Dakota will be
able to resume business in the
very near future, according to
statements made by officials. of
bank. "a
The fact that the Bank Of North
Dakota is now paying the registered
Geek; and all other valid CLAIMS s.ives
the lie to the propaganda spread
broadcast by the I. v. A. politicians
That the state bank was insoivent. lle
Bank of North Dakota cannot ',e in
solvent as long as the state soy ern-
ment continues to function for tie
simple reason that the bank is backed
BY all the states resources. Bul even
II the Bark Of North Dakota did not
have the backing Of the whole s.ate
it would still be the strongest finan-
cial institution in the state, according
to the statement of condition issued
by the banks. s
Private Banks Credit Gone
For instance: The Bank Of North
Dakota shows liabilities of a little
more than for every dollar OF its
capital, while the First National Bank
of Fargo, the oldst, largest and rec
ognized as one Of the strongest priv
ate banks in the state, owes more
than SIG for every dollar Of its cap
ital and the Merchants National bank
of Fargo, another leader, owes $40 for
each dollar Of capital invested. s
The records Of the private banks in
the state show that they have been
unable to borrow dollar outside the
state for several months past. On the
other hand these banks have been
forced to pay up millions of dollars
Of loans outside the state, thus send
ing these huge sums away at this
critical time when everybody needs
NOR money. In other words, the priv
ate banks credit is all gone.
The Bank Of North Dakota, dur
ing the past few months, has sold
more than $2,O0O,0 900 Of state bonds
and borrowed money outside the state
totalling more than $5O0,OO0. The
state bank has brought this money IN
to the state and thus relieved the
stringency to that amount. II the L.
Y "a. is defeated in the recall election
the Bank of North Dakota will sell
millions of bonds before the year Is
ended and it will be able to borrow al
most unlimited amounts to be distrib-
uted among the farmers and business
men. #
To Make Farm Loans Soon
1t is expected that it will only be
matter Of a-few weeks now before the
farm loan business will be resumed
by the state bank. Then the Bank OF
North Dakota will be able to come to
the assistance Of the thousands OF
farmers whom the private banks are
refusing to help now but are foreclos-
ing upon.
sThe success Of the Bank of North
Dakota is completely demoralizing
the'I. v. A. campaign" said Chairman
Liederbach Of the State Executive
committee. The anti-farmer bosses are
now being shown up for the liars they
are. The Bank of North Dakota is the
strongest bank in the whole nation to-
day and these sabotagers know It:
Having thus been caught u their
lies about the Bank Of North Dakota
these political skunks are switching
around to other false yarns. Nestos
is travelling around the country telling
the people that the members Of the
state administration are holding wine,
women and song debauches at the
capitol at the taxpayers expense. And
Sveinbiorn johnson is repeating the
lie that the state administration is
connected up with the /. w. W.. Both
these men know they are lying.
when they tell these yarns. They stoop
to these underhanded tactics because
they know that their only hope to win
is III misleading the voters to believe
that the men they have elected to of
flee are moral degenerates and politi-
cal crooks Of the worst type.
" ...~,f Will 1sSv,n II..9 M y