Grand Forks herald. [volume] (Grand Forks, N.D.) 1916-1955, 1921-01-26
(By Staff Correspondent

= : r. n
e Bismarck, N D., Jan. 26-A rapid checking over
OF the report of the audit Of the North Dakota state in
dustries delivered Tuesday by Bishop Brissrnan and
company OF St. Paul. showed that the Bank of North
Dakota deposits and loans banks of the state which
had closed on December g. 1890 were $780, 49, that
deposits and loans to banks which had closed since
December 8 totalled $737 80 on December 81 that
the total deposits and loans banks which have closed
were $917 Dec g. that the Bank Of North Da-
kota had on deposit December in the Scandinavian
American bank of Fargo $228 97471 had loaned to the
bank $2l5 1871 "a total due the state bank from
the Fargo institution $444 that of So "a
loaned to banks in the 81 35 past due
on Dec. g. that the Home Builders association issued
checks for $57 98572 for which no supporting vouch
invoice could be foud that the Home Builders
associations books incomplete and deficient; that
the Home Builders association spent $376,6990S
which includes loan of $225OOO from the Bank of
North Dakota $84 from the original appropria-
ton $51 06 paid in by home buyers and now has
overdraft with the state bank $40 75252; that the
Drake mill and elevator shipped to the
league Consumers United Stores -four yalu-
ed 49, Of which as far records show $05;
$80322 has been paid that all flour shipped on con
sgn1nent was valued at $1708O742, Of which $l17,-
O0O.29 has been paid; that serious obstacles were
thrown in the way of the examiners in the audit of the
Drake mill. sst
MERELY HIGH LIGHTS.
The above constitutes merely the high lights of
the report made plain by first examination. Detailed
analysis Of the results Of the audit will be possible only
after continued STUDY
points connection herewith will not be made plain
in all probability until the inner facts brought out
in the hearings that will be held on the matter by the
state legislature.
NO ATTACKS MADE.
No attack is made on any of the state institutions
in the report The auditing company contenting itself
with presenting the facts regarding each one which
were revealed by the investigation carried There is
no implication anywhere in the report that there has
been any dishonesty in the management Of any Of the
institutions.
& In regard to the efficiency and good judgment
with which they have been carried on, the findings OF
the auditors have been allowed speak for themselves
The auditing company reports that 50 tar as the
Bank of North Dakota and Home Building association
were concerned excellent cooperation wS received in
the Investigations made The opposite was the case,
however with the Drake mill and elevator in connec-
ton with which further investigation is recommend
ed 4gs
In regard to two Of the state departments tor
which audits were scheduled, the report confines itself
to brief statements to the reasons that the audts
were not made Lack Of time the chief OF these.
For the Bank Of North Dakota, the Home BUILD
inc association and the Drake mill, however, compre-
hensive statements given il which the Chief points
of interest are as follows;
The Bank Dakota I======
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