The producers news. [volume] (Plentywood, Mont.) 1918-1937, 1931-08-28


els 900 900: celery. olives. and pickles, !
toners and kills the bank in the !
end. Erickson is wise enough to |
realize this ruthless law of usury. |
He could always see what il would
finally lead to all over the state. !
In no message has he ever men
toned it to the assembly.
CRIMINAL IF TRUE
The two merger banking corpor-
atoms could never have gotten in
to the state if Erickson had in
formed his bank examiner to meet
them with "No" at the line The
First Bank Stock Corporation and
Northwest Incorporation have
doubtless already ruined more
farmers than the drouth of the
worst year. In the face Of Erick-
sons examiner one Of these con-
Germs advertises that it owns 100
per cent in many Montana banks.
This is criminal if true. Every
director in a bank must own some
stock. The so-called spread" be-
tween what went into the treasury
and what the public bought stock
in the First Bank Stock Corpora
ton ($47.50 to the public, $500
into the treasury was enough to
put any oil promoter in Jail for
using the mails to defraud. The
Marlowe bank owned by this con-
Germ has the first right 10 use al
the state money. This bank is not
only unfair to every independent
banker in the state-but H. is dan.
gerous. Thus Erickson permit!
control of our state funds TO be il
Minneapolis. And anybody il
Montana knows whether the cor
porate stakeholder in Minnesota
could answer the double liability
or not, if any Of its big local hous
es were 10 60 down. In fact, oul
state moneys with Erickson's con
sent are really dependent Oh tn
solvency Of one Of fifty banks il
North Dakota and Minnesota.
, chain is as strong as its weakes
! link is true of banking as Of an,
other chain In fact if the fall i
the price Of stock in the FRS
Bank Stock Corporation continue
! much further, Git is $18 to 81
!, now. It was $64) the state ma
Z wake up some morning to find ths
Erickson as the leading proponer
Of corporate rule in this state b
leaving the state funds in the cor
troll of strangers from Minnesot
has added to his other effects {
!. misrule the crownin9 achievemer
! that which happened in Nevad
! from dishonest banking-the To-
= of all the state cash on hand.
/ USELESS EXPENSE
+ Erickson knows that the sta
board of tax equalization is
worse than useless expense. Tn
instead Of helping TO equalize Il
burden Of taxes between farme
" home .ewner, laborer and profe
ot sional man on the one side al
s. mining, railroad, power, gas, el
re phone, merger bank (absentee la
IN lord) corporations on the oths
n. this board since its organizati
ca has been merely the cloak for hi
nd ing from the people. the evasio
n by members Of the Grand Allan
al Of taxes that should be paid und
he the present classification, rotts
he cruel, as it is. He knows that Il
ny board costs the state In salari
US and expense of operation above
We thousand dollars the year; that
nd merely provides salaries for me
ad bers REPUBLICAN and democrat
he Of Erickson's machine. He /
IL known since he has been first
tn augurated that these figure hes
ey are only useful to induce the co
lot pany tax agents to spend emit
in tainment money in Helena. He
Ter known for many year that [
an board should be abolished; its c
or alton was a mistake; its dut
he better done for nothing by the
ng board consisting Of governor,
he torney general, secretary Of sta
nd He has never recommended to
ck- legislature its abolition. He Inc
the same work was once done
less than $15,000.00 the year
clerks aiding the board as O.
igh constituted. AS long as this DO
lge exists Erickson can add a az
est fessional" free mason and
by blind following to the good pee
1t who heretofore have followed j
us as a professional Scandinavia