The Bismarck tribune., 1922-05-04
TN0.HHIRDS
FARM LOANS OF e
BANK NOT PAID
Compilation Shows Many Who
Obtained Loans From League
Administration Not Paid
THE, PRESENT POLICY

SdIe Basis rOr LOilnS I1clu 4NC
cessary by Present Admins
tration to Safeguard State
More than two-thirds of the farm
loans made by the farm loan depart
ment when it was under the direction
of the Nonpartisan league admins
tration are unpaid, according to a
compilation Of the mortgage records
in the office of the state treasurer
Included among the loans, the mort
cages of which have been assigned to
the state treasurer and which are
property of the state, are many loans
which have been the subject of az
tack in political discussions In the last
year or two. .a ID. H-'
Several former workers Of the Non
partisan League who obtained loans
have not made any payments. There
have been charges that the men who OBJ
tanned the loans "s0ld" these lands TO
the state. Among these loans are two
to Robert Ray McKaig, former active
Lacquer who is now in Idahs. He OBJ
tanned two, loans totalling $1,000 and
has not made any payments.
The compilation shows: Number OF
loans delinquent-one year, 2G5; two
years, 266; number of loans paid to
date, IA; number Of loans with install
ments part paid, q. :,
The total amount OF installments
delinquent is $207,964.43 and the
amount of installments paid to date
covering the period from the time first
made by the bank in 1919 to date,
$1O1;lS3.S6.
State May Lose
AS the state is the owner of the
mortgages and becomes owner of the
land If the long time loans are not
paid out there is likelihood of consid-
cradle loss being sustained.
The condition of loans previously
made have argued for a safe and
sane" policy by the farm loan depart
ment under it's present management.
The department has received over
Sill, 100000 of applications, which is
about $4,000,O0O more than could be
loaned under present authorization CT
law, and by the end of May will have
approved loans totallfng about ST.
100000.
Among the farm loans which have
received more or less prominence in
the past end which are shown as de-
linquent in the state treasurer's office
are:.ts ii
r.. w. Frazier, Crosby, N. D., active
Nonpartisan, $2,500 on 160 acres Di-
vide county land; annual installment
of $175.0O due Aug. End of each year
First installment due Aug. g.. 1921,
unpaid.
James w. Bailey, Emerson, N. D.,
$8,OO.0O on 67344 acres in Dunn coun-
ty. Annual installment Of $560.00.
Firstsinstallment paid; second INSTALL
ment Of $560.00 due March 9Th, 1921,
unpaid.
John H. Haigh, Carlyle, Mont, bank
er, $4,000 on GAO acres Golden Valley
county land; first installment paid.
Second installment due Oct. 20, 1921.
John H. Haigh, Carlyle, Mont,
$6,OO0.0Os on $50 acres Golden Valley
county land. first installment paid;
second installmentj due Oct. 20; 1921.
unpaid. eLG#
John H. Haigh, Carlyle, Mont,
$8,0000O on $40 acres Golden Valley
land: annual installment $56O.0O. Rec
ords show first installment paid; Sec
ond installment of $56OOO due Oct. 20,
1921, unpaid.
E. o. Bailey, Emerson. N. D., $2,4OO
on 100 acres in Dunn county; annual
insta llment of $168.O0 due Feb 9th
each year now delinquent two years.
Mrs. Carrie Sanger, Lakota, $26, 400
on $50 acres Nelson county land, an
nual installment of $1,S4S.00 due Dec.
% each year. First installpent paid,
second installment of $1,848.00 due on
Dec. 22nd, 1921, unpaid.
Charles w. Gayett, Enderlin. N. ID,
S11, 500 on 240 acres Ransom county
land. Annual installment Of $805.0O
due Jan. 18th of each year. Partial
payment Of $l15.O0 made on first in
stallment due Jan. 29th, 1921. Second
installment due Jan. 20, 1922, unpaid.
Chauncey E. Cavett, Lisbon, $l6,-
OOO.O on 400 acres Ransom county
land; first instalment paid; second
1AStdImeAt uue jan. 20, AoIc' uA-
paid
Fred H.. Cavett, Enderlin, $7,5OO.0O
on 100 acres Ransom county land; an
nual installment OF s525.00 due April
14th each year; partial payment of
$195 90 made on first installment due
April IA, 1921; second installment
due April IA, 1922, unpaid.
Chas. E. Allen. Mohall; $5,000.00 on
800 acres Renville county land; an
nual installment of $4,000 due Jan.
Sth each year. Delinquent years; mo-
payments made.
Chas. E. Allen, Mohall, $6,500.06 on
31S acres Renville county land; an
nual installment $455.00. Delinquent
two years; no payments made.
Chas. E. Allen, Mohall, $650O.00 on
800 acres Renville county land: an