The nonpartisan leader. [volume], June 30, 1919, Image 13

About The nonpartisan leader. [volume] (Fargo, N.D.) 1915-1921

Image provided by: State Historical Society of North Dakota

                
(Continued from page 3)
there is a specific and well-under
stood economic program authorized
by a large majority of the people of
this state is well known. The estab
lishment of the Bank of North Dakota
constitutes part of the machinery to
be used in the execution of the pro
gram."
"This means that in two weeks the
Bank of North Dakota will be ready
to receive applications for farm
loans," said Director General F. W.
Cathro when informed of the order of
the supreme court directing Secretary
of State Hall to sign the bonds which
will furnish the bank's capital stock.
"As soon as the bonds are signed
and delivered to the bank we will
start in the business of rural financ
ing. The blank forms for applying
for loans will be sent to the office of
the attorney general at once for an
opinion on their legal correctness."
Manager James R. Waters was also
highly pleased with the decision of the
Threshing Rings
Many Corn Belt Farmers Dis
placing Custom Threshers
By Department of Agriculture
League Wins Two Big Court Victories
NRELIABILITY of cus
tom threshers, labor com
plications which pften
arise when two outfits
reach a neighborhood the
same day, the expense of
custom threshing, the careless and ex
travagant work of some hired mar
chines, and similar factors have caus
ed grain growers in the corn belt to
organize co-operative threshing rings
for the purchase, maintenance and ef
ficient operation of threshing machin
ery.
One large threshing ring which has
been particularly successful and which
has met all expenses and paid for it
self in "four years out of the money
ordinarily paid by the members for
custom threshing is the Up-to-Date
Threshing company of Livingston
county, 111., which is composed of 10
members who own 15 farms. The
'partnership capital originally totaled
$3,275, and the equipment included a
20-horsepower steam engine, a water
tank, a separator with a 34-inch cylin
der, a corn shelter, and a second-hand
silage cutter, which has been replaced
by a new one.
SMALL OHIO RING
OWNED BY 3 FARMERS
A smaller threshing ring, organized
last year in Fayette county, Ohio, con
sists of three landowners, whose part
nership capital consists of $1,000,
which represents the cost of a small
22-inch separator, with a clover-seed
attachment, the power being furnished
by a 12-24 farm tractor.
The ordinary crew was made up of
five men, with teams and wagons to
haul bundles two men, with 125
bushel wagon beds to haul grain three
miles one man to manage the outfit,
and a boy to help. Bundle wagons
were used to replace two or three field
pitchers, while the use of a gas engine
also dispenses with the wafter boy.
The engineer has time to help consid
erably about the separator. With this
small force, this outfit was able to
thresh and deliver to the elevator,
three miles distant, an average of ap
proximately 760 bushels of wheat a
day.
There are two general methods of
ring co-operation, the most common
involving the hiring of a threshing
outfit, the other its purchase.
Practically all the threshing rings
perform some outside work as accom
modation at the customary rates, or to
enlarge the ring in order to secure all
the .necessary help.
court. "This is a great victory for
the people," said Manager Waters.
"We will now be able to begin our
more vital work, which has been de
layed all the time that Secretary Hall"
blocked the bank by refusing to sign
the bonds.
"We will begin Monday sending out
notices to the banks asking them how
many of the bonds of the Bank of
North Dakota they wish to buy."
As soon as the bonds are signed,
they will be offered to the people of
other League states. These bonds will
be sold in $100 denominations, but
each will cost $102.50. The additional
$2.50 constitutes what is known as a
premium. Brokers in New York are
so anxious to obtain these bonds,
whidi carry the pledge of the whole
state of North Dakota, that they are
willing to pay
2%
the face value of the bonds to get
them, and the state is offering them to
the people of these states for just
what the brokers are willing to pay.
The bonds carry interest at 5 per cent.
I
EiVERYdirectlyis
MM
V.
per cent more than
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Land Road Building MacHmexy
PAGE THntTEHN
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