The Bismarck tribune. [volume] (Bismarck, N.D.) 1916-current, 1921-02-11

Mr.. Sullivan took the notes from
the envelope and read them. The first
note was for $1,000, drawing 10 per
cent interest The line for the payee
was blank. 1t was signed by the Non.
partisan league, j. A. johnson, mana.
ger. The second one was for $1,000
also, with the due date and the payee
blank. 1t was signed by the Farmers
INOnpartisan league, j. A. johnson.
treasurer. The third was for $500
and otherwise the same as the second.
The fourth was the same The fifth
was for $500 and otherwise the same.
The sixth was blank except the sigma.
ture and the per cent OF interest. It
carried" 8 per cent interest and was
signed by J. A. Johnson, treasurer,
and G. A. Totten, Jr., acting state ex.
e9utive secretary.
craIg's Name on One.
The sixth was for 32,50O, carried 10
per cent and was blank except the
signature which was the same as tho
fifth. ...aa, .@
The seventh was for $1,000 and sigh
ed by the, National Nonpartisan Lea.
que of North Dakota by Ray Craig.
state manager.
The eighth was for $2,5OO, carried s
per cent interest and was signed by
Johnson and Totten. The ninth was
Ill blank exCI.,t the interest at per
cent and the signature, which was
"A. C. Townley."
Mr.. Sullivan then offered the re-
ceipt book found with them in evi.
dence. ..f
Not an Appraiser. a..
MIR. Murphy then asked Mr.. Cathro
if Mr.. Totten was one OF his apprais.
ers. He replied no.
The bank head then was requested
to read list of the appraisers, which
he did.
How many appraisers Of the state
bank carried league notes." Mr.. Muir
ply asked.
Mr.. Cathro replied that he didn't
know any did.
MIR. Murphy next questioned Mr..
Cathro about brokerage fee of 81, ,16D
charged by the state bank in connec-
ton with the purchase by that instilu-
ton of the Dunn county feed and seed
bonds. ,-,
Mr.. Cathro replied that he didn't
know but that the, bonds were sold
to an outside concern and his impres.
sion was that the fee was that de-
manded by the loan firm buying them.
He was asked to present the records
in regard to this transaction and also
that of the Stark county feed and seed
bonds in which Mr.. Murphy said, he
understood the same deal had been
made. l.
Mr.. Cathro denied that he had turn
ed over to the state bank examiner a
list of banks which had not paid their
drafts.
The farm loans for Bottineau and
Renville county were next considered.
Mr.. Cathro produced a list and Mr..
Murphy reading off some Of the names
wanted to know IL they were custom
ers of his bank. ln reply to sOmeA he
answered that they were.
The total loans for Bottineau county
were $234,10O and for Renville, $177.-
200. Mr.. Cathro was excused and lat
er when he took the stand asked 10
be permitted to make q statement re-
garding the Bottineau county loans:
He said that less than Is per cent OF
the borr.-Vers did business with his
bank. OF the first $219,O0O loaned in
the county. $l50,000, he said. were
made to customers of the First Ma
tional Bank of MOhall
Mr.. Lofthus was called and question:
ed by Mr.. Murphy in regard to the ex'
aminations of the Scandinavian-Amer
ican bank made by P. +. Haldorsoa'
deputy bank examiner. -.
Mr.. Murphy asked Mr.. Lofthus il
Mr.. Haldorson had not reported on
Sept. IS, 1919, on the bank and calL@l
attention to the excess loans aud II
on Oct. ~, 1919, he had not made an
other examination and il the bank
had not been closed and Mr.. Haldor'
so1 appointed as receiver.
\ Answer Yes.
Mr.. Lofthus replied to the first nuos-
tion that he didn't know and answered.
(Coutipued on Page 81