The Bismarck tribune. [volume] (Bismarck, N.D.) 1916-current, 1922-01-06
NEW STATEMENT.
OF BANK SHOW s.
DEFICIT AHEAD.
Loss of Bond Sales and Losses to
be Sustained in Closed
Banks Indicated
AUDIT REPORT AWAITED
First Statement of New Admin
istration Taken From Books
Before Auditors Make Report

Before Auditors Make Report
The Bank of North Dakota is fac
ing deficit on the basis of it's pres
ent condition, it is indicated by the
report of the institution as, it enters
the new year. When the statement
OF the bank is made by auditors upon
the basis of ordinary bank statements,
with values checked and balanced, it
is indicated that the deficit will he
much larger than is now apparent
from the statement of the banks con-
ditiOn as of Dec. 81, 1921.
With profits listed on it's books as
$134 1854 the bank also lists $74,-
325.OO advanced commission on real
estate bonds which must be made. up
and $70160.40 discount on bank series
bonds to be- amortized. These amounts
are carried as resources, and it was
proposed they be amortized in the
courl of the farm loan business of 80
years. They represent at this time an
actual loss more than balancing the
profits" listed.
The first report of the bank since
the new administration took office
shows that there is $131 ,8O1.70 re-
deposits in closed banks and $3.50,
1880 loans in closed banks. These
amounts still are carried entirely as
resources
Does Not Change Method.
c. R. Green, manager of the bank,
presents in his first statement the
condition of the bank as shown by the
books OF his predecessor, F. w. Ca
thro. No attempt is made to change
this method or to charge off amounts
which in ordinary banking practice
should be charged of pending com
pletion Of the Bishop Brissman and
Company examination. The statement
is changed somewhat as to form and
is given in more detail. With loss in
II tire sale OF bonds at below par, COM.
missions paid and bad loans,made, 1t is
feared by. state officials that the audit
report will show an actual deficit far
greater than any OF the other state in
dustries.
Following is a statement of the con-
dition of the Bank of North Dakota
as of close of business, Dec. 81, 10 FL.
Resources.
Bonds, United States, state
and public corporations.$ 619,279.42
Loans to banks (open Z
banks, s1,S0S, 1885;
closed banks $685.
1s4.5O) 1,S67,312S5
Loans on warehouse re-
ceipts and other col
laterals ............... e1,3o5.1s
Loans to public institu- y
tions, mill and elevator,
s1,055,310l50; home
building, $413,71616;
other state institutions,
"a is17O, O,OO474) 1,639O3143
y.oans on real estate ~. 34O,544O6
Interest earned (net) un-
collected 234,e7s.oo
Furniture and fixtures... 52,67367
Due from banks in North
Dakota (open banks, ST.
Os',oS@.so, ciooe" o"N0' oo ~, -,
? $l'Oo1'oV!.'V, '...'..,.
Due from oanhs ou' 0iue ~, -. .,
North l'ako.a '..''... -. A''oA'''''1' :
Due from banks In the
state-ou' loi leoiieo oor 40. "a
ton .....-.z. zz5'Vo4V9
Due from state and pub "a
ii lie corporations $500. 39O, ,Sl22O
=
Cash oh n"'iu anu no oc, .,
items .........':....'.''.'' 'o'ooA10
Stock room supplies as -
per inventory ......: lV'ooS'4l
Farm 10
deliVereu "
state treas
urer for
bond issue $2,56S,553.S5
Proceeds OF
real esta.e
Don SIRE
celved from
Indu strial
commission 1''1 1'ooo.oV
Balance of mortgages as
signed to STATE treas 80 100 -
urer .:.:. o'V'' ''.0' ''
Advanced commission on
real estate series Donds -.oor ~