The Tomahawk. [volume] (White Earth, Becker County, Minn.) 1903-192?, 1926-02-25
Indian Trust Funds.

"A Iotat VI plZ,SoO,oZU.fl COm-
prising trust funds belonging to
various tribes. and individual In
Ldians is deposited in banks in the
State of Oklahoma, according to a
special report of the Interior, De-
partment. .-> .~,,..
Deposits of Indian funds in local
financial institutions Of Oklahoma
are larger than those of all other
Western States combined having
Indian populations. OF the $22,-
936, 500 Al, the greater part con-
sists of individual Indian funds,
the amount being $22,802.670.S7,
while tribal funds on deposit in
the Oklahoma banks amounts to
$133, ,949 "a. ... = -.
In addition, the report shows
SO, ,911,476 35 of tribal funds of
Oklahoma Indians are held in the
United States Treasury and $685.
651,709 of individual funds of
Oklahoma Indians are invested in
federal government securities.
According to the law discretionary
authority exists with regard to the
Usage Indians to. invest their trust
funds in United States bonds or in
Oklahoma State bonds, real estate,
first mortgage real estate loans,
and other local securities including
livestock, as we'll as depositing
them in local banks. -.>.
In connection with the invest.
ment of these funds, a number of
applications have been received,
the purpose of which was to sell
Liberty bonds belonging to some
of these Indians in order to invest
the money in various local enter
prises in Oklahoma. One of the
proposals was that the Indians
Government securities should be
disposed of and the money used to
buy q hotel in a small town in
Oklahoma. Another application
proposed the sale of Liberty bonds
belonging to an Indian so that the
money might be loanded to a
newspaper and used to conduct a
printing business. A third pro-
position was to take the Indian
wards money out Of Liberty
bonds and finance a new taxicab
company just being established in
an Oklahoma city. A. number of
other similar applications, have
been received. In discussing the
report, Commissioner Burke of
the Bureau of Indian Affairs sad:
About one-half of the entire
trust funds of Oklahoma Indians,
both tribal and individual, is. de:
posted in the banks of Oklahoma,
all banks being furnished with de.
posits who comply with the re-
quirements. The remainder is
invested in United States securi.
ties. Two-tbirds of the Indian
moneys under Government guard
ianship belongs to individual In-
dians. Much of this is invested in
liquid securities SO that when q
minor reaches his majority and is
entitled to his money. uDders the
law he may be paid Immediately.
In other instances, restrictions may
be removed or q certificate of
competency given, either of which
events entities the, Indian to his
money. We, therefore, endeavor
to keep Indian trust funds either
in banks or the United States
Treasury or in liquid assets that
can be quickly converted into
cash and be available for payment
to the Indians when they are en-
titled To it.
Moreover, the Indian Bureau is
not equipped to do q general in
vestment business, and, fit should
undertake the investment 7Of In
dian moneys in bonds, mortgage
loans, real estate, stocks, livestock,
and other similar investments, it
would be necessary to have q
corps of trained examiners of title
and experts to determine the
legality of bond issues. The Bu-
roon olso would ha enh;nck RI in..'