The Bismarck tribune. [volume] (Bismarck, N.D.) 1916-current, 1932-05-12
MefhOdiStS Abolish
BishOpric at Helena
FARM LOANS MADE
BY BANK OF n. D.
REACH HUGE TOTAL

Farm loans aggregating $3e,079,-
s72.s5 have been made by the Bank
of North Dakota since organization
Of the farm loan department. accord
ing to reports Of the state industrial
commission covering the bank and
loan department.
During 1881, loans made totaled
s4,O74,3O0, with the average loans
amounting to $1,777.63. The average
per acre was $3.50.
On Jan. there were 1,020 appn"
cations and Enclosed loans aggregat-
ing s2O55, 700 in process Of compile
ton. OF that amount 1921 100 hao
been approved and were to be closed
as soon as the titles were cleared.
Loans made in 1924 led all other
wears. with a total OF $6,382 900, aver
aging s2,884.l4 a loan and $ll.14 per
acre. The number Of loans totaled
2,213.
Prior to 1922, 755 loans were made
for an aggregate Of $2.760. 33l.83. the
average loan being $3,65607. and av-
erage per acre $l4.07.
In 1922, LOTT loans for $3.47o,-
6o1.l2, averaging $3,222.55, ana $3.50
an acre, we're made.
For the other years loans made
were:
1921 1884 loans: total. $3.50 500;
average loan, $2,99S.l3; per acre.
1926, so4 loans, s4,772,loo: aver
age, $2.645.2s; per acre, 1882.
1925, $3.50 loans, $3,l60,150; aver
age, $2,382 80; per acre. $9.42.
1927, 202 loans. $2,569, 100; aver
age. $2,137.86: per acre. $s.44.
1928-s0S loans, $l.767. 700: aver
age, $2,186.88: per acre. 1914.
l929-780 loans, $l.6l6,70Q; aver
age, $2O727o; per acre. $798.
l930-l,257 loans, $2,546,8 800; aver
age, $202609; per acre. STA.
ACQUIRED 267,053 Acres
Land acquired through foreclosures
totaled 267,O53.4l acres, with the to-
tai cost of acquisition, exclusive OF
accrued interest, $3,974.040.9S, OF
SASS per acre.
Lands owned on Jan. I, 1881. to-
tailed 2l3,144.30 acres, while during
1881 lands acquired included 49,
341.67 by sheriffs deeds: 7.2Sl.0S BY
direct deeds, and 1,573.6l by cancel
Ilation of assigned contracts. Cash
sales were made in 1881 for 1872
acres and contracts assigned foi
l,099.33 acres. ;.
The payroll Of the Bank Of North
IDakota. farm loan and collection de-
APARTMENT totaled $l35,034.33 during
1881, with 70 employees in all depart
|ments. In addition II part-time EN-.
ployes, not employed after Jan. !
received $3,6ls.l3.
During 1881, the Bank Of North Da.
kota purchased from the industrial
commission 100000 Of ~ per cent
bonds, 100000 Of ~ per cent
bonds. and 100000 OF 1 per cent
bonds. With the exception Of $1,000
900 Of ~ per cent bonds which wer(
disposed of In 1880, this was the frs
time the state has been able to mar
lket q bond with q coupon rate les
than ~ per cent, according to Q. T
Mudgett, manager Of the bank.
Should Buy Certificates
II ID INC OplulOn VI 1iic A1soA!oBC'
|ment," he continued, that, when
ever possible, these certificates shoult
be handled by the bank, this betn(
particularly true In regard to schoo
districts, q greater number Of which
would have been unable to function
had It not been for the purchase o
: these securities by this bank.
1.-THE amount Of these certificate
! at the end Of the year was $2,712.
: 320.15, an increase over the previou
, CONTINUED on page two)