Grand Forks herald. [volume] (Grand Forks, N.D.) 1916-1955, 1921-01-25
/: BANK "A | CAN { PAY } !.
O|BLlGIAT I !, 4 ! |! ! A'T|l|OgS, | |
5. SAYS | !! CA'TlIR0 4 1 | !! | l ]
I Total !: 4 / Liabilities Il i 5 and i, Re
81 sources Shown TO Be Il.
d. !. $l.5,st2.'e, !. Z ,7a5. n.
!: Bank Manager Makes Care
]. ful E!:xplanati ?: ation Of Items
.5..,s III Statement.
{By Stan Corresp,ondent. !

Bismarck. N. D.. Jan. 25.-"The
ssBank of North Dakota is fully able
to pay all Of it's obligations. but to do
10 would involve calling in large sums
.depos.ted in local banks Of the state
and thereby react on them" was the
statement made Monday by +. w.
Cathro, manager of the Bank of North
Dakota. commenting on the statement
OF the bank as of January Is, which
has just been if1ade public.
The statement shows that the total
liabilities and resources Of the bank
amount to- $15,s26,725.24.
We owe certain money that we can
pc called upon to pay on demand -
said Mr.. Cathro. This is represent
ed In the statementlb by the following
items: lS = :.
Public deposits, general
and other funds. coun- N.
ty, city, township and
scnool treasurers ,....S4,s4o,S96.3s
Due to depos;tary
banks (reserves) 955,SS6.2O
Collection items 58.105.12
in addition to these there is So
95S, ,l58.54 represented by public de-
postts, general and other funds of the
state treasurer, and $229,Os9.1O of in
divtdual deposits. A part of these
is also payable on demand, although
1t is impossible that the state treas
tlref's balance could be lowered moro
than $1,o00.0o0 as the new deposits
coming in from that source would
more than neutralize any further
withdrawals.
Nov, what has the Bank of North
Dakota got to meet these obligations ?
What the Bank Has.
ut has the following items:
l. YNs1n
In North Dakota, $6.2O4,526.67.
Due from correspondent banks
outside Of North Dakota, $50, O,476.37
Cash items due from banks in the
state, $653,667.27. ,a&I
4 Cash items due from the state anG
public corporations, $106,651.sS.
| Cash on hand and cash items, $23,
IN addition to this, there ar.
loans to banks. amounting to $2,6O7,
418.03, part Of which are payable or
demand, as II. has been the policy o
the Bank offNorth Dakota to refus,
4 extensions of time, loans since the in
itiateds law regarding deposits ins tn,
hanko Of North Slaak 4 kpta went iutp $cf
y an a, an ttonss, ar
4 alt hAxAble BY check On demand. ~
faS It ia evident therefore that III,
Bank olss North Dakota has on de
mands resources more than sufficien
to make any payments which may b
Il demanded .of it,.
4 It must be Temembe however
that to make these payments it woul,
4 be necessary for! the bank to with
4 draw it's funds from the banks in tn
state in which they are deposited an,
it ~ on these. banks that the burde,
would be put should the demand b
made.
4 4 81 y, se,,s, s>s Plenty OF Wheat.
!, s.As a matter of fact there is NOR
4 than enough wheat In the state today
',lI believe, to pay Off all. of the farm
4 ers obligations to the business men
= all of the business mems obligations t
I the banks and all of the banks obliga
tions, Including those to the Bank o
North Dakota.
!, "As to ouy time liabilities. l woul
say that they. are exceeded by ou
time assets. by about 40 per cent.
N AfTaThero .ic nne nniuf v1,iS1, tn, L