Grand Forks herald. [volume] (Grand Forks, N.D.) 1916-1955, 1922-06-09
Manager OF Farm Loan De
II partment Of Bank OF N.
D. Shows The Charge. OF
Former Attorney General
Without Foundation, And
Turns Table, On Nom
partisan Leaguer..
(Herald Special Service.)

(Herald Special servicc.)
Bismarck, N. D., June e.-Non-
partisan league speakers, headed by
former Attorney General william
LANCER. in concentrating their at
tacks on the present management OF
tne farm loan department Of the
Bank of North Dakota are misrepre-
senttng facts and juggling figures,
according to Director Wilbert B.
Default
In recent speeches Mr.. LANCER has
made the claim that he has investi-
gated the situation in the farm loan
department and he has found that
the administration has made a de-
hberate effort to slow up5 on farm
loans" and practically everything
else is wrong with the department,
according to the league headliner on
the stump.
statements Mr.. Default says in a
statement made public today:
Lanscr Didn't Investigate. :.
"Mr. LANCER is reported to have
stated: II Investigated conditions at
the bank (referring to the, Bank Of
North DakotaJ and found these con-
ditions to be, as have shown you, q
deliberate effort on the part Of the
new industrial commission to slow
up on farm loans
II am much surprised at such
statement from Mr.. LANCER as at no
time since December s., 1921, when
! took charge Of the farm loan de-
partment Of the Bank of North Da-
kota has William LANCER visited the
department, or SO far as have any
knowledge, made any inquiries in
connection herewith y 4
Inquiry among the employees of
the department. has developed the
fact that he has not made any such
request for information to any en-
ploye .of the department.. 1t would
: therefore appear tsat the investiga-
ton referred to- in his remarks ;wsa
made from. .soMfces ether than '.the
farm loan department itself, which
would appear to be the only source
OF reliable information. ~
Not Weils1Dickcy Man.
ferred to me as representative OF
the Wells -Dickey Investment COM
pany Of Minneapolis. The fact that
/ have had absolutely no affiliation
OF any kind with the Wells -Dickey
company for al number of years is
we'll known to h large number Of the
people in this state and easily ascer-
tainable by anyone who will take the
g. trouble to make inquiry.
IT severed all connections with the
Wells -Dickey company nearly nine
years ago, since which time / have
been engaged with other North Da-
kota men. who have no connection
with the Wells-Dickey company. in q
North Dakota business of our own al
Jamestown that is conducted under
the name of w. B. Default com
pany. 2
Experienced Appraisers.
"Mr. LANCER is reported to have
partment under my administration
of experienced farm loan appraisers
This statement appears to carry with
it the presumption that it was i'm.
proper to employ experienced farm
loan appraisers. In this connection
attention is called to the fa& thai
the appraisal of farm loans is q
technical work Of great response
bility which constitutes the rea
foundation upon which any farn
loan business is based.
1.-THE department was Undertaking
to commence the appraisal of loan:
in the winter time under deep snow
in the fifty-three counties in tn!
state. It hardly seems possible tina
= Mr.. LANCER. or anyone else, woult
advocate the employment Of In
experienced appraisers upon who's
Judgment to base the loantng of mil
lions of dollars of the states funds
Assuming that every fair mtndet
person will agree that it is absclutel!
necessary to have experienced ap
nraisers, the question naturally raise
itself as to where such experience
.conjd be obtained. Naturally 1t woult
be obtained appraising farm loans II
the past and naturally such ap
praisals would have been made fo
some loan company. y,
"All appraisers applying fors post
lions were required to give their OK
nerience and the names Of forme
EMPLOYERS as references. NATURAL,
these former employers were aske'
regarding the qualifications OF sucl
narties to do reliable farm loan ap
!, r,ra;sal work and, naturally. onF
such appraisers wero engaged q
we're highly recommended AZ mel
those previous experience as farm
loan appraisers qualified them to q
n,,t IN ali seasons 'of the year an
make intelligent and reliable ap
praisals. fst4.s,s 81
MORE MEASUREMENTS.
..Mr. LANCER Is reported TO
have conveyed the impression