The Bismarck tribune. [volume] (Bismarck, N.D.) 1916-current, 1928-10-06

Representatives. 27th District.
No-Party Nom1nati0ns
Three Judges OF the Supreme Court.
:. Superintendent Of Public Instruc-
Two Judges OF the District Court |
County Officers
Auditor.
Treasurer.
Clerk Of District Court
Register OF Deeds.
States Attorney.
County Judge.
superintendent OF Schools.
Public Administrator.
Surveyor.
County Commissioners. End District.
County Commissioner. 5th District.
Assessor. list District.
Assessor, 9Th District
Four Justices OF the Peace.
Four COnStableS.
One OFFICIAL Newspaper. See Chap
Ter 172. Session Laws. 1925.
Constitutional Amendment
An Amendment to the Constitution
of the State Of North Dakota, by way
Of addition thereto, providing for the
se bsnR Ry t Rsc sas Of deposits IN
and May. Is. 1928: the issuance and
sale Of bonds Of the state in the
smount Of &25.000.00o.o0 for the pur-
LIQUIDATION OF the affairs OF the De-
positors' Guaranty Fund prohibiting
fhe guarantee of bank deposits.
state of Nosss Dakota sas se The q 5n.
stitution Of the State OF North Da.
kota be amended by adding thereto
the following article:
Section l.. By this constitution the
people Of North Dakota do ordain
and establish: The State Of North
Dakota has long assumed and exer-
ing within the state by regulating,
restraining and governing 1t, and IN
the year 1917 In pursuance OF such
general policy the state caused to be
Establishment Of = Depositors' Gnsrsn-
to guarantee the payment Of general
deposits IN state banks. Such fund
and controlled by the. state, acting
mated by It for such purpose. BY the
enactment Of such law and It's adj
public Officers the people were led
to believe, and did commonly under.
stand and believe. that the credit of
fss sae " was a t. the
banks. and relying upon such belief
and understanding large numbers Of
the citizens OF the state entrusted
such BANKS asi in A9 the form Of 0s General
deposits. Since the enactment OF
said Depositors' Guaranty Fund Act
and up to and including the 18th day
Area a soo si State .1s
1nsolvent and have closed, which In
solvent banks have general deposit
tors numbering more than eighty thou
sand tso.ooo2 people Of the state.
mateiy $4,000, 900. % over and above
the ability OF such banks to liquid.
ate. It has become apparent that
such deposits cannot be paid BY the
y tors Guaranty Fund, nor by the
combined resources OF said banks and
said fund. and because thereof. the
earnins. and savings and many any there.
of be reduced to poverty and
want unless the state shall assume
the burden of reimbursing such de.
policy OF regulating and controlling
the banking business, and particular
" by its enactment OF said DEPOSIT
tors Guaranty. Fund Act and its ad-
Officers. the state 10 morally Obliged
to such depositors.. and its failure to
fulfill it's moral duty to pay such
claims will adversely affect its credit
citizens distrust and lack OF conf.
fore declare It essential to the gen.
eFol WeISr0 OF the c!ato enu tnt
habitants thereof that the State OF
North Dakota should discharge 1T
moral obligation and pay the claims
OF such depositor:. ald that the pay.
public purpose to which money raised
by general taxation may be properly
section 2. The state Of North Da.
kota shall pay. without interest. an,
balance that may remain due on al
claims ., passd on genera, aepos..s y !,
state banking aseociations wh &c
have become ins9iven ia ana closed ,se.. De
1928: :ftsr -creditins thereon ny pay j.
Hereafter be made 81 dividends in q;
course OF Liquidation OF such insol
section 3. Immediately upon IN
taking effect hereof the Governor ant
state treasurer sna,i prepare a nc \. p
sue under their hands s a tt by tn
Of the state, bonds Of the state Q
North Dakota IN a amount not Z
exceed $4,000. 10000, IN In denomina
.s to not ass1R
per cent (6%) per annum. Such bond
shail be issued n j. series payable .n -, 2
70. 10. 70; 70 ana ~ years after IN
series s T to b aetsr@,aeS 81 the gov sas
error ana stafe TT. treasurer t' sue sue
Is in tie jgdsmsnt; 81. oi the I Lia g l
purposes herein specified. but the,
shsN not pc SOLD Tor less tnan par,
Section !. From ana after . the tax
GUARANTY Fund q abolished. and tn
Depository Guaranty Fund COMMITS
sion shall account to the Lquidatin!
Hoard he herein prCvisa1sd Tor ior q g