, 1922-03-01
FINANCIAL MESS
APPEARS BAD
NORTH DAKOTA BANK AupIrs
SHOW A MOST SERIOUS CON-
DlTiON INoEED

"rIZL"I"L LA|
h absolute acknowledgement and
freekIessness, to ssy psfhing of what
appears like criminal carelessness, en-
gagged in by the N~onpartisan League
officials of North Dakota, becomes
3 pronounced as further and nddi4
tionai audits gf4 the hooks are made
public. No Opponent of the League ev-
err charged oneStenth as much as liz
now being proven by certified ac-
countants.
The Bank of North Dakota ppears
to have been run moi as a legitimate
banking institution. but rnthera ms il
sort of clearing house by which funds
were secured from the people through
taxation and dissipated forS radical
propaganda and socialist experiments.
While the net loss ascertnined 10 Dec.
81, 1921, is given as $255,OSS, the report
says this is but a paper foss,'' for III,
actual lossi in the end will run into mil
lions 1t wouId appear. In arriving Mt
the paper losses no count is taken
of the vaiue of assets as they appear
on the books Save as shown in the
book figures and these assets, In many
Instances, appear worthless.
In arriving at the result called paper
| losses. the renor.t recenflv ffle,l shovs
that no consideration, has been given
the fact that there is $54S,4S4 loaned to
closed banks. Nor Is any consideration.
| given to the fact TINT SIZE. q of tbe
loans in banks that nre omen or were
| open at the time of The renort are
past due. These items. together with
past due loans on warehouse recelpts
| and other collateral hr;ng ,l,a to,ai :,
past u paper in the bank 70 81. as7..
OIL. Further. no consideration has
been given the fact that tb,.r. t. rode
posted in closed hanks The su,n of 81.
| $780,
Run for onlv.
That the Bank or North Dakota was
run in the interest Of The Nonpartisnn
| League leaders. and NOT tte farmers of
| that state. Is evident from mn onaIvsis
| of the items "money denosited mr.
| loaned TO closed banks Tbe renort
| shows that 81 Is due from NJ
| teen closed hanks AFFILIATED with the
| League. and This sum is exclusive NJ
the interest past due which runs into
many thousand olIar In other words.
over two-thirds of all the money rede.
posted or loaned 20 hanks that are
/ closed, was placed in less than one-third
of the banks that hive failed. The re.
port further shows that fifteen League
banks still open have on redeposit or In
loans S1.O79,7S5. or so par cent MS much
money from the Bank of North Dako.
ia as have Approximately 1876 banks in
the state not affiliated with the
League.
Much stress has been laid by organ
izers and others on the large number
of individual depositors in the Bank OF
North Dakota, but here, again, IL would
seem, some one strained his imagInn
.,on. Inc totni amount U individual
n " Jan. l. ms yea was S24,-
80, nre ~ ,he peing
80 49, ~ eAe taAp"s.
,as,v,,..r, .o'a' nun,per "
u,h,ch 10 h"a ar oi
posits Of loss han $40 a. Win danas
its of less than az. and 3s with demos.
its of less than 81. But g deposifors
had accounts in excess of $1,000. and 5
of these did not live In the state, so
that there was just N man in the
state OF North Dakota who had confi-
uence enough IN TINS oank 70 place his
u' ~ ueposi VI q sum greater
nan 1900 -
II yin IT, 60. 49," ss.u.,co
nrh,,c acoa,,n.ants - - en- usa
no-nan1ata ranan. ~ un,a ~,
80 Nnrtn 49, ~. .".