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About The Sunday Oregonian. (Portland, Ore.) 1881-current | View Entire Issue (Nov. 28, 1920)
THE SUNDAY OREGONIAX, PORTLAND, NOVEMBER 28, 1920 hdrth Dakota bank f NOW FACING CRISIS People of State Repudiate Monopoly State's Funds. MAY WITHDRAW MONEY tea ?ae Begins Campaign Among Farmers Seeking Individual Ie posits to Carry Out Projects. ',FARGO. N. D., Nov. 27. (Special.) -Just now the plight of the Bank of Xbrth Dakota, the non-partisan league's pet state project, is the chief topic in North Dakota. In the recent election the people adopted a law by which the bank no longer has a monopoly on public funds, and, in tbe opinion of prominent non-partisan league leaders, this law eventually Will close the bank. KNon-partisan league leaders find themselves in rather an embarrassing situation. Prior to the election they Went before the people with . the declaration that if the initiated law relative to public funds was passed tbey would not be able to carry into effect the so-called "farmers' pro gramme" of the league. Over their objections the law was approved by a majority of approximately 900. ' League's Theory Explained.- j'Better to appreciate the situation and the function of the Bank of North Dakota, it is necessary to un d-erstand the theory upon which the bunk was established. The bank .was created for the - single purpose of financing a series of state-owned ter minal grain elevators and flour mills. To obtain money, a law made it com pulsory for all state officials and all officials of every taxing subdivision of the state to deposit public funds in' the bank. At the close of the last tax-paying period, March 1, 1920, the Bank of North Dakota had deposits Of approximately J35.0O0.0OO. This has dwindled to about 115,000,000, and will be further reduced between now and the time the new taxes are paid. ;The law gave officials of the bank power to loan money to any state in dustrial institution or to transfer it from one department of state to another. When that law was put up td the people non-partisan league advocates asserted that without the bank they could not possibly finance and operate the system of state owned flour mills and grain elevators which they insist will cure the evils 'urronndinp: the production and marketing : of grain, particularly wheat. Bankers took the view that to place under the control of politicians a sum of money so great as that in volved in the Bank of North Dakota must operate to the disadvantage of the state. They contended-that this law gave to politicians power to pun ish banks and business men if they refused to lend support in whatever plans or schemes they might have. To complete financing their proj ects, the non-partisan league legis lature authorized issuance of $17. -000. 009 of state bonds, but the state found itself unable to sell them. The then attempted to finance state industries by state funds that came into the bank. This monopoly of Public funds did not long meet public favor, and en actment of the law which did away with compulsory deposits followed. It goes into effect December 2. After that date the treasurer or any public official who has authority over public funds of any kind now on deposit in the Bank of North Dakota is privileged to withdraw those funds and redeposit them in some bank of his own choice. Western Part of State Benefits. The Bank of North Dakota adopted a plan whereby a part of the state money received was re-deposited with other banks. The theory was that this money would be deposited in communities where there was a money shortage. For two or three years crop conditions in the western part of the state have not been good, and the bank made deposits in the western district greater than in other parts of tne state in order to help finance the farms of that region. When public officers have power to withdraw money, a re-transfer of funds will result in heavier demands upon counties of the west, and coun ties of the east will -benefit accord ingly. Bankers and officials alike have declared they are opposed to any immediate withdrawal of funds, desiring to give the Bank of North Dakota an opportunity to arrange its affairs so that withdrawals will not embarrass it. The Bank of North Dakota has made loans of about i 3,000,000 on real i estate and other extensive loans, in cluding a half million dollars to state industries. This money cannot be ob tained immediately for re-transfer to the counties. In an effort to tide over the situation, the state admin istration has announced that the Bank of North Dakota will be open to private deposits and the league is making a campaign to induce farm ers to take money out of local banks and deposit in the state bank. Branch Bank Held Solution. Another counter move by the Bank of North Dakota Is that it probably will establish a string of branch coun ty banks. These county or branch banks probably will not be new banks, but some banks already in operation, which procedure is possible under the North Dakota act. North Dakota has for several years witnessed the withdrawal of a large amount of money from the state be cause of the antagonistic attitude of the non-partisan league state admin istration to investing capital. Money for farm mortgages and for financing of farm operations is no longer In tbe state. Investors in mortgages have insisted upon payment of mortgages when they are due, and no new money has come into the state to take its place. - Financial Crisis Impending. Every possible : attempt is being made by the conservative people of North Dakota to bridge' over the financial crisis now existing. Lead ers of tho forces opposed to the non partisan league have dac -red their intention of doing everything pos sible to prevent disaster. They as sert that if anything does occur to further embarrass the state finan cially it will be because the non partisan league administration nas declined to come half way and deal fairly in this emergency. The non-partisan league state au ministration has come to a turning of the wavs so far as finances are concerned. It can no longer depend upon the Bank of North Dakota to finance any state-owned projects, and if funds for those purposes are to be obtained they must be obtained at the hands of a state legislature, one house' of which at least will be controlled by opposing political forces. This financial crisis is one of the hardest problems the league has had to contend with since it became a political . factor in North Dakota. Mrs. Harding's Waffles Win Politicians' Hearts. Wife of Presldemt-Kleet Helps 1m Front Porch Campaign. vantages of a fine or going to Jail, and chose the latter. Carpenter had been engaged at a sawmill, which was closed when he was tried before Justice Joehnk. As the mill owej him 100, he comuuaea that, having no work, and being obliged to expend the . money in pay ing his fine was not so favorable an extrication from his predicament as to go to jail- and leave his lamiiy tne 100 for support. He will serve su days. TWINS' BIRTHDAYS VARY One Boy Born Thanksgiving Day, Other on Day Following. T.OS ANRELEi Cal.. Nov. . 27. Twina, with different birthdays, are the latest addition to the family ot Mr. and Mrs. George Schubert here. One bov was born at 11:30 o'clock Thanksgiving day. .The other apt peared at iz:zu tnis morning. THE OREGONIAN NEWS BUREAU. Washington. Nov. 27. During the two-months' front porch campaign conducted at Marion, O.. visitors to the republican politician acquired a fondness for the waifles made by Mrs. Warren G. Harding, who will soon become the first lady of the land. Here is the formula for the waffles which, with creamed chipped beef, fresh fruit and good coffee, constitute the Harding Sunday morning break fast the year round whether in Marion or Washington: Two eggs, two tablespoons of sugar, two heaping tablespoons of butter, one pint of milk, one pint of flour, two heaping teaspoons of baking powder, one teaspoon of salt. Beat yolks of eggs and sugar and salt and milk and flour; next add melted but ter. Just before ready to bake- add baking powder and beaten white of eggs. Cook in hot waffle irons. Use plenty of butter and maple syrup. JAIL TERM IS CHOSEN Moonshiner Prefers Time to Spend ing $100 for Fine. MARSHFIELD, Or., Nov. 27. (Spe cial.) Adolph Carpenter, a Bunker Hill man, caught running moonshine liquor from a still into a receptable, and with several bottles of finished product, weighed carefully the ad- HAS GOOD APPETITE AND GAINS WEIGHT Tacoma Woman Is Restored to Health After an Attack of Influenza. "it didn't seem possible that anyone could lose strength as rapidly as I did during an attack of Influenza, says Mrs. F. L. Richardson, who lives at No. 508 South Twenty-first street, Tacoma. Wash. "I lost flesh and was completely run down. I did not have anv ambition and was tired all the time I had no apPetlte and what little I ate disagreed with me and caused pain. No matter how tired I was I could not sleep well. I became very nervous and suffered from headaches. I tried several medicines to build up my system, but they didn t help me. "Dr. Williams' Pink Pills were rec ommended to me one day and I de cided to try them. After taking one box of pills I felt a little better, so I kept on with the treatment. Soon my ambition returned and I had a better appetite. It was not long before I regained my strength. ..My color is good now, I sleep well and no longer have headaches or nervous spells, l shall always use Dr. Williams' Pink Pills when I need a tonic and strong ly recommend them to others." Inf luenzaleaves the blood thin and there is no way of correcting the weakness and general debility which ensue except by building up the blood. As soon as the revitalized blood courses through the system you are a wo pa nf ita .iinthint. slrnirthnln. j influence. Gradually the color comes back 'to the cheeks, food tastes good and is readily digested, and starved nerves before strong again. Write today to the Dr. Williams Medicine Co., Schenectady, N. T., for the free booklet, "Building Up the Blood." Your own druggist sells Dr. Williams' Pink Pills or they will be sent by mail, postpaid, on receipt of price, 60 cents per box. Adv. We Give Double S. & H. Green Trading Stamps All This Week r i 1 giiiimiiimnimimimimiimtimiiMN miuttuiiimnminamnmuiii CONTINENTAL WARDROBE TRUNKS Regular Price $47.00 Now $395 ACCEPTABLE GIFTS Your family and friends will greatly appreciate traveling equipment on account of its usefulness. We carry the famous "LIK LY" Bags and Suitcases, fit ted and unfitted. Absolutely the finest quality and style. IMPORTED and DOMESTIC PERFUMES it! I t ilniimiimiuiiiiimiimimiiiiiiniiiiintimuiniminuuiHiHiiiiiimiiuiinimiiiim COMPLETE STOCKS Imported Houbigant Rigaud Roger & Gallet Djer Kiss Coty Violet Guerlain's L. T. Piver Ed. Pinaud Tanty Vivaudou D'Orsay Domestic Ricksecker's Miolena Some Flowers CLA-WOOD Palmolive Nikk-Marr Hudnut's Colgate's Mavis Aubrey Sisters Vantines Palmer's aimnnnuininiiir UH.i,mittnuimtiiiuwmimi.HUinuittmin Absolutely New Stock Genuine PY-RA-LIN IVORY Choose your gifts from our showing, then .you can be sure you are giving something acceptable and useful. Hat Brushes Talcum Boxes Puff Boxes Combs Dresser Trays Nail Brushes Clocks Perfume Bottles Nail Files ' Mirrors Buffers Military Brushes Napkin Rings Flower Holders' Cuticle Knives Jewelry Boxes Cream Boxes Bonneb Brushes Hair Receivers Shoe Horns Picture Frames PY-RA-LIN Ivory Toilet and Manicure Sets An extensive assortment of these beautiful Pyralin Ivory Sets, from the smallest to the" largest made. Prices to suit all. Ladies' HAND BAGS and Vanities, $10.50 PQ rrpr to $21.50; now DO. 4 O Assortment of Ladies' 1 CCL Handbags and Purses 2-'" A Fine Present for "HIM" The AUTO-STROP SAFETY RAZOR Strops automatically shaves and cleans without removing blade from the holder. AUTO-STROP is adjustable to a light, medium or close shave. C o m p 1 e t e razor, strop, blades and case Price $5.00 1- Sale of Ladies' Silk Umbrellas Fancy handles, all colors and styles to suit your wants. An opportune sale, as these Umbrellas will make exceptional Christmas gifts. $ 8.75 Umbrellas, Now...Jj 6.75 $13.50 Umbrellas, Now. . .$10.75 luiiiiimiiiiumiHUiuiiiitMiruiiiniiniiiniiiiiiiiHiuitiuiiinitiHmttiintniuiniie I Greeting Cards I Help make this Christmas the 1 best the world has ever known. 1 I Send a Christmas Card to every . j I one of your friends. We will I gladly help you. Come in and 1 I make your selections from our 1 large and varied stock. I ENGRAVED GREETING CARDS j I In good taste and refinement 1 1 our' cards are unsurpassed. All 1 I we ask is that you place your I orders at once in order to fa- 1 I cilitate early delivery. 1 Fountain PENS Waterman's Ideal. Moore's Non-Leakable. " Sheaf fer's Self -Filling. Conklin's Crescent Filler. Our stock is the most com plete in the northwest and our. pen expert is the most courteous. ALL "LIKLY" LUGGAGE TRUNKS, TRAVELING BAGS, SUIT CASES (Fitted or unfitted) PORTFOLIOS oodard,G(arlted,Go. ALDER. STEEET AT WEST PARK This Week Only at. . . 25 off Ne II 11 iw uoines ai new ir rices : - . ; . .''.'' ' My Prices are Down to Bed-Rock All the Time Look these over TTnri .so $ QUALITY STYLE AND FIT $4-0 And the Cream of the World's Best Clothing for $45 to $55 To the men who use my stairway it means saving money. Come upto my upstairs store. SEE FOR YOURSELF New Clothes at New Prices. DO NOT WAIT, because clothing prices are unsettled they may go up again. Manufacturers are only running 30 capacity preserve stocks are being used up and the sup ply of clothing on the market is decreasing. Look out for a rise in price when buying starts again. Suits, Overcoats and Raincoats J PORTLAND'S ORIGINAL k-TlJ ' QXVi UPSTAHtS CLOTHIER Tgg Jcotea'tV Upstairs, Broadway atAlder 1 ' 12:30 1 ia ON OUR MIGHTY VOICED ORGAN ..aJ&l'' 1. The Charlatan March Sousa ,-ZXJ . - - . ."t 2. Calm a the Night ...Rodney. SPSS!!' 3. The Liberty presents the Manhattan -K- gS&Jt 1 Trio in a delightful songologue. felf ' '" -s 4. Keates Music Test. Note Professor Keales rvill endeavor to play v4f ' an) requested number popularized during the . " past nenj)-ive pears. All concert patrons s offering numbers which he cannot play ivill be ; - presented with a five-dollar bill, providing j here's where the fun comes in. f' - 5. Overture Orpheus.... Offenbach $ $& THE SEASON'S CONCERT NOVELTY ' - ' tV-f JfCfe '"j JESSE L.LASKT PRESENTS : Always Nf? 'mam Aodaooas I . J'lfS if Beyond a question the greatest role ' ',15Pfl that Wallace Reid ever played. All I ALSO ''imim j. action alive with surprises and I LIBERTY WORLD NEWS fun' and thrills for ten Picture! i AND Adapted From the Famous Saturday 1 . . Evening Post Story THE MANHATTAN TRIO - 5 I Direct From Eastern Concerts I : V.' - "A HOME-SPUN HERO' A Two-Reel Sidesplitter That We Pronounce as Unbeatable It's 100 Fun
