The Oakes times. [volume] (Oakes, N.D.) 1906-current, 1922-06-08
NESTOS SPEAKS
OF STEWARDSHIP
Wonderful Showing Has Been Made
by Present Administration in
Past Six Months
MUCH HANDICAPPED IN WORK
Nonpolitical Boards for Industries
Urged by Executive

Governor Nestos made straight
forward appeal to the voters and tax
payers in his address at Oakes Tues
day forenoon, the fourth address he
had made in the primary campaign,
three Of which were made in Dickey
county. Although coming in the fore
noon, when it is hard to get people
out to listen to a political address,
the streets were filled with cars, and
several hundred people from all over
the Oakes country were present to lis
ten. The Oakes band led the process
sion to the city park, where the gov
ernor spoke from the band stand.
The governor was very willing to
let the people pass judgment on his
stewardship, not only his, but the two
men elected with him on the indus
trial commission. He recounted the
promises he had made in the recall
campaign and his aim has been to
keep those promises to the letter.
The state Industries were examined
under great handicaps. Records were
missing; files were rifled and every-
thing destroyed that might give q
true insight Of the condition Of those
industries. The investigation went
on, nevertheless, and with the help of
those employed at the time, q report
was made, and on this report new
start was made. The extravaganza
and waste that went on under the old
regime was worse than told.
The ineficiency and extravaganza
cropped out in every line Of business
undertaken. The Drake mill project
was small affair but it showed a
heavy loss, due to big salaries and
mismanagement. Since taking hold
Of this, however, the new industrial
commission showed a gain Of $40O on
the right side Of the ledger. And that
would be wiped out If the mill was
not exempt from taxes.
> Thss real estate r!!oans made through
the Bank Of North Dakota showed
favoritism and absolute lack Of safe
business principles. In many cases
loans were made for more than the
assessed value Of the land, the social
istic idea working in, that eventually
the state would own the land. The
appraiser in reporting always. added q
note to show whether or not the ap-
plicant was or was not a Lacquer. If
he was not a Lacquer there was no
loan. Governor Nestos promised a
square deal to all in making these
loans. He assured that there would
be no favoritism in making loans
while he was governor, and that loans
would be made after assurances that
the loan, with interest, would be paid
The little creamery at Werner only
showed loss Of $15, 900 in the short
time it had been running. It was
closed under the league rule and has
not been reopened.
The cost Of operating the Bank Of
North Dakota has been cut in two
This has been done by cutting down
salaries and firing the political hang
ers-on.
In summing up the losses that had
come to the state through the league
mismanagement the governor placed
them as follows:
Industrial Commission. .s156,s4s .7s
Homebuilders' Association 159, ,974.7A
Bank Of North Dakota ..... 15O,454.64
Mill and Elevator Assn. 1877, ,194.17
Total book loss. .se53, ,sss.2s
In addition thereto large additional
losses will have shown to have beer
suffered under their mismanagment
when the affairs have been wound up
and the definite and final amount Of
these losses ascertained. It is now
estimated these losses will total from
$2,000,O0O to $3,0O0,0O0 even if the
best Of business judgment and skill is
employed in salvaging the securities
and other property.
Mr.. Nestos showed where the new
administration had helped the 81
banks that had suspended, SO that ter
Of them had. reopened their doors
He showed the heavy expense of re.
.ceiverships of those banks, totaline
about $265, ,302.44 in one year under