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FARGO BANK SOLVENT,
ACCOUNTANTS REPORT Fargo, N. D.—Charges of gross misrepresentation and outright lying were made this week by auditors em ployed by the banking department of North Dakota against Attorney Gen eral Langer and Secretary oZ State Hall, who closed the Scandinavian American Bank at Fargo, one of the North Dakota farmer-owned Non partisan league and other farmers'' co-operative enterprises. The charge was made in a report of the Equitable Audit company, which examined the affairs of the bank for State Bank Examiner Lof thus, who was piacad by the supreme court in charge of the institution af ter a receiver appointed contrary to law by Langer and Hall had been ousted. The audit shows beyond question that the bank was solvent at the time it was closed, and therefore that its closing was a political move against the Nonpartisan league, which, while not directly interested in the bank, was a heavy borrower of it. Deputy State Examiner P. E. Hall dorson, acting under instructions of Langer and Hall, reported that the, Scandinavian American had "bad debts" of $46,503.65. Within 12 days after the bank had been closed $7,765.34 had been paid on these "bad debts" the audit com pany's report shows, and directors of the bank have taken up an additional $25,600. "Of the amount taken up by the directors, a large portion is collectible, but is too slow for the bank to carry," the report states. OTHER CHARGES ALSO FALSE Deputy Halklorspn also listed loans of $169,973 as "past due paper" Tne audit company's report shows-: that Halldorson was entirely wrong as to his figures and states that the law firm of Tenneson & Cupler of Fargo, asked to pass on the paper listed by Halldorson as "past due" considers only $5,849.50 to be poor" paper. The audit compfjjty report shows that Halldorson a-iv^ was wrong in calculating the reserxalii/ewents applying one method of calculation to the Scandintrvian-Amorican, in an ef fort tp show that it was below reserve limits, and applying a more libera' methods to other banks which he ex1 amin6d. A number of other glaring mistakes are pointed out In the I-Iall dorr,on report, malting that document worthless oil any- consideration, ac cording to the banking department. The Equitable Audit company has found, moreover, that $10, (XiO ii' rcnl p.stiite first mort gage bonds, held by the Scan dinavian American bank, have disappeared. State Dank Examiner O. E. Lofthus has served notice upon the Fidelity & Casualty Com pnny of New York City, which went on Halldorson's bonds, that there is a shortage in the properly of the bank and that the bonding company will be held responsible. MANY I'APE lis FLINCHED Halldorson has admitted that dur ing the six days in which he was act ing illegally as temporary receiver, private attorneys, aides of Attorney General Langer and employes of the bank had ''full access to the bank vaults, 'where the missing $10,000 securities were kept. Halldorson has admitted over his own signature that he would be unable to identify rec ords and documents taken from the bank during the time he was receiver. Employes of the bank have made af fidavit that private attorneys and aides of Langer spent hours at a tinvc In the vault, taking out what they pleased, without giving receipts or let ting anybody know what they were taking. Bank Examiner Lofthus, as the re sult of receiving, this information, served notice upon Langer requiring the return of a., property taken from the bank. Atter vainly trying to get a court order so that he would not have to return this property, Langer Bt'ter two days' delay, sent back a -Package of documents. When this was/checked over, howevfer, it did not contain the missing $10,000 bonds. The North Dakota Guaranty fund commiiMlö held a meeting last Tues day to examine the affairs of the bank. The members of the commieqjon look ed Into the report of the Equitable Audit company, special report sub mitted by Bank Examiner Lofthus and the books of fche'bank, and at the close of the meeting a resolution was adop ted, stating in part: "We wish to commend State Bank ... ... Examiner O. E. Lofthus for the man ner in which he has handled the af fairs of the bank while in his charge and we are especially pleased to note that a large number of loans have been paid in full, while others have been reduced, and that the work of collection is being carried on with dil igence and every effort made to con serves and preserve the rights of all persons interested as well as the stockholders and officers of the bank." FARMERS' CHECKS GOOD Collection of loans proceeded dur ing only the last six days, since Bank Examiner Lofthus took charge of the bank. While Halldorson was in charge as pretended received no effort was made to collect loans. An affidavit by President H. J. Hägen, Vive President N. G. Eggen and Cashier P. R. Sherman of the bank shows that individual loans, in which the Nonpartisan league was in no way interested, have reduced $35,555.92. Loans made on notes to the United Consumers Stores have been reducer: by payment of $53,000 showing that t'hese loans are made on excellent securities and are really collectible. Loans made on post-dated check?: of the Nonpartisan league, the audit company points out, are not excassiv. loans and the report of the Audit Bureau of Circulation shows that they are worth 8 5 cents on the dollar." The Equitable Audit company lays "These loans are fully secured and it is a good and safe business for this bank." Loans of the League exchange and Publishers National Service bureau are listed .as "excessive but fully se cured." The total collateral held by the Scandinavian-American bank, as is shown in a report by Bank Examinei Lofthus, is. nearly tv,-o and one-half times the amount of its loan:.. Under the method of calculating re serve requirements applied by the state banking department for years the bank has reserves far in excess of requirements.A few loans appear to have been made in excess of. the amount that the bank was allowe-1 by lr.v.' to a s-iii gie:'totdividuaf*or corporation, but steps are being talc-' en to l'cduce theSe loans. In any ev.ml. the presence of excess loans docs not give legal warrant for the closing of a bank. It appears from the Equitable Au dit company report that there WHS not •the slightest excuse for closing the bank, except that by doing so the enemies of the Nonpartisan T,encn.: hoped to cripple it financially. LEA(iVERS TO MEET They have failed in this attempt, as 'is evidenced by the stream of mon ey that in flowing into League head quarters in payment of post-dated checks ahead of the time that they are due. The depositors in the Scan dinavian-American bank have also been reassured as a result of the searching investigation into the bank's affairs and it is predicted that thousands of dollars in new accounts will come into the bank as soon as it is reopened. At Fargo, October 21, the farmers of the League will voice their opinion of the attempt to wreck the League through a bank-wrecking program. Plans are peing made for a series of automobile parades from various points in North Dakota to Fargo. President A. C. Town ley pf the Non par, tisan league and Governor Lynn J. Frazier are among the speakers on the program for the Fargo meeting and one of the biggest an'd most en thusiastic rallies in the history of the League is anticipated. PRESBYTERIAN Morning Worship 10:30. "Good Citizenship Day" and every body is going to church with two oth ers. Sunday School'11:45. This is "Go to Sunday School Day" See that every scholar is there. Set the clock back an hour but don't be late. No evening services this week! Game Warden L. P. Johnson has been doing s^me good work the past few days, rounding up law breakers in this vicinity. On Tuesday he brought A. P. Larson, grain buyer at the Jen sen Island in Lake Traverse and E Halleberg, a resident of the same vicinity, before Justice Prind'vllle, having discovered said men Ashing with the aid of a net. The men were allowed to. i-eturn home, after each paying a $20 fine and costs, taking with them a line of the Judges good advice. CHAPLAIN SQUIRES SPEAKS AT UNIQUE Chaplain Squires who was here on Tuesday evening in the interest of the American Legion gave a most timely and appropriate lecture, which was well attended by both civilians and ex service men. His talk was interest ing and instructive and it is to be re gretted that more people did not get to hear his message. The Chaplain explained the pur poses of the Legion and showed to all that it is not "a political organization but a banding together of the ex-ser vice men for their own interests and to give expression to their determine ation.to uphold the constitution of the United States, that they are against anything or anybody that dares to raise his hand or voice to destroy that liberty which the American Flag rep resents.'That it does not intend to be a tool in the hand of any politician or party for the purpose of advancing any partisan polities that it feels that its intarests »«re in those things, Liberty, Fraternity and Equality for which they fought and died in Flan ders field and the Argonne Wood. In short it is a 100 per cent American organization and anything less is not wanted in this, our country, the best in the world. The Eüward Otto Post of the Am erican Legion of Sisseton has now a membership of about 60 members and there is a iteen enthusiasm to increase the membership until every ex-ser vice man in the county is a member of this or seme other post. To those who are not members it is urged t.iat you send in your name at once and get identified with the greatest 100 per cent American or ganization in existance today. See any •member and give him your name and address and join at once. After the lecture a dance wa's giv en in the opera house for the benefit of the Legion and a record crowd was in attendance. Thovsoii—Eikum Miss Cl£ra Thorson and Möns Ei ((fei" cojiiipletely surprised their many -.viends here by quietly slipping away from their work Saturday- at 4:30, when everyone was so busy their de parture was not known, and being quietly married at the home of the brides parents, Mr. and Mrs. M. Thor son. Rcw. Austin .performed the cere mony. After a hurried wedding suppei Magnus Stavig took the happy couple to Peever, where they waited the re turn of tire train and left for a short honeymoon to the cities. The bride is a charming young lady who has lived here since childhood. Her sweet quiet ways have made everyone her friend. She has served as clerk in the Stavig Bros. Dept. store for several years. The groom was also a clerk at Stavig Bros., until about five years ago when he accepted a position as assistant cashier at the Citizens Nat ional Bank. He is a young man of sterling qualities. Both of these young people are very active in church work. They will continue to make Sisseton their home, and upon their return will go to housekeeping in the Magnus Stavig residence, now occupied by the. Graversen family Their many friends extend hearties! congratulations. LOCAL AND PERSONAL For Sale—One used Automobile in excellent condition. Will be sold cheap if taken soon. B. M. Hanson "Budge" Batterton arrived from Chicago the first of the week tor a few days visit with the home folks. Mgr. Hatch of the Otter Tail Power Co., was looking after business interests in Peever and Wilmot Wed nesday. The switch board manager arrived from Aberdeen Wednesday and is In stalling the new board at the Dakota Central office. There will be services in the Metho dist church Sunday, Oct. 26.th. The new Pastor O. W. Butterfield will con duct the servicesJ Services will com mence at 10:30, old time.. Sunday School at 11:45. Evening services at 8 o'clock. A. P. Houde Is having a fine new barn erected on his farm adjoining the Bert Mussetter place. As soon as it is completed work will begip on the new modern residence that is to be erected on the place. Mr. Houde has disposed of hij property Just west of town, to a party from Beatdsley, and the new owners will take pos sesion March 1st. FARMERS TAKE OVER LOCAL PAPE!! The farmers of Roberts county took over the Sisseton Standard on Sat urday of last week and will operate it in the future, to promote the in terests of the farmers of this vicinity and the people of Sisseton. The paper is incorporated under the name of the Roberts County Press. The farmers of the Northwest arc well organized and in order to bring tlieir ideas betöre the public are pur chasing papers ail over the northwest and at the present writing have un .der their control almost two hundred papers. The stock of the paper is taken by local capital and therefor the policy of the paper will be to boost Roberts county. We are going to keep the paper up to its present high state of efficiency and if possible improve on it. The business men will be treated fairly and their cooperation is solicited. All honest criticism of the policy of the Standard will be taken in godd faith. Since the farmers have taken con trol the circulation has increased wonderfully..* In the past week wc have added a hundred names to the list and understand that many more will subscribe in the near future. As the Standard already lias a large subscription list we are able to give the advertisers the best possible re sults. The Darmers in purchasing this paper 'had the idea in mind to not only work for their own interests but to join hands with the merchants in order to help one another. What benefits the farmer is found to bene ,fit the merchant, who depends upon the farmer tor his living. So. let's work together. Standard Umlvr New Management With this issue the Sisseton Stand ard comes out under new manage ment and we bid goodby to our friends who have «tood back, of us during the live years we have edited th& paper. During our business career in Sis seton we haye endeavored to give the people 'ofTftoberts 'County a 'gocd paper— and if we have succeeded, no one lias ever told us, so we arc s'. ill guessing. However, we have done as well as we could so what more could be done. In turning over the Standard to the new owners—The Roberts County Press—organized by the farmers of Roberts county—we wish to ask that -they be given the same splendid sup port from the Standard readers we have received in the past and are positive that the paper will be a' good if not better than it lias baen, in the future. All subscription accounts will be assumed by the new owner and credits have all been extended. We have enjoyed our work at Sis seton and it is with deep regret that we leave the city of Sisseton, Roberts County and the old Sisseton Weekly Standard. W. L. Johnson, SLOGANS America needs the Red Cross. The Red Cross needs you. The Red Cross job is an American job. Are you an American? Give yourself a Christmas present. Buy the Red Cross magazine. The Red Cross believes in happy babies, do you? Join the Ited Cross fight for health and happiness. In the name and memory if those who have "gone west", Join the Red Cfoss. The H. C. L. hasn't hit Red Cross membership. They're still a Jollar. If you want to help America, let the Red Cross help you help. When a feller needs a friend, call tfce Red Cross. All you need is a dollar. You have a heart. Belong to the Red Cross and keep step with America. If you approved the Red Cross in war .approve it in peace. Don't he A. W. O. L. at the Red Cross Roll Call. The Red Gross job is a local job. Are you in on It? Yo® honor the Red Cross and your self when you Join. Your Red Cross button proves your Americanism. The greatest double play ever made —"Fron Hom6 Folks to Red Cross to Yanks." The Red Cross believes in a square deal tor Mothers. Do you? Remember Its your- Red Cross. Join. Don't end your Red Cross member ship Armistice day, begin it. REI) CROSS PEACE PROGRAM for you For your family For your-country. Nursing Service—A public health nurse where no other agency is cover ing the field. Classes in home hy giene and care of the sick and die tetics. Encouragement of girls to be come trained nurses. (Poor health can be largely prevented. Good health can be regained through the Red Cross Nursing Service.) Home Service—Care of the families of soldiers and sailors. Continued help to the service man. Family relief' where there is no other agency in the community. Disaster relief. (In 90 per cent of the communities where Home Service has been at work there is no other relief agency) First Aid—Training in the preven tion of accidents. Training in first aid when an accident does happen. For mation of life saving corps among swimmers. (First aid may save a life) Junior Membership—A little Red Cross within the big Red Cross.. Training for citizenship. To furnish relief to suffering children. Happy childhood the world over. hi Foreign Lands—The American Red .Cross has undertaken an obli gation and the people have faith that that obligation will be met. No other organization in the world can meet it. The above is a brief outline of the peace time program of the American Red Cross. Read it through again carefully, and become acquainted with what the Red Cross plans to do in the future. We can say, without fear of being contradicted by "anyone who is acquainted with present plans, that it is the primary purpose of the American Red Cross to be of service to Americans. The Red Cross "wants to be of service, its purpose is to ren der assistance wherever assistance is needed—to soldiers and the families of soldiers—but now as the war be comes more and more a thing of the past, to all people who need assis tance from any organization Tijce the Red Cross. Let the people of Rob ts County think out for themselves.what, it would mean to Iiava'the service o' competent, and conscientious public health nurses. Are there not poor families in the county that from time to time might he in actual need, in need of clothing, in need of food, in need of the money required to secure the services of surgeons for opera tions, or of physicians for medical treatment. It requires but little thot to come to the conclusion that the First Aid department of the Red Cross can become of great value tc the people of the county. Let no one overlook the importance of the Junior Membership department. No one should be in favor of seeing -the American Red Cross withdraw from the foreign countries before its work there is completed. Surely, the Red Cross has a worthy peace time program. It is not by any means through with its work. In.some respects the work is changing, but the Red Cross wants to continue work ing, and being of service to men. AI! the plans have not been completely worked out, but the Red Cross hopes to meet the needs as the needs a"r.is'e,' and to find the needs that already ex ist. Let the people understand that the Red Cross is an organization for mutual helpfulness, and aims to be come even more efficient in the future than it has been in the past. Then nc one will be unwilling to support the Red Cross with a renewal of member ship. Prepare to meet membership solicitors with a smile of encourage ment, and a dollar. A-MH'-' O. G. Austin, Executive Secretary Robert« County Chapter A. R. At a special election held Tuesday of this week the proposition authoriz ing the town trustees to incur an in debtedness of $2,500.00 for the pur pose of building or buying an electric distributing system in Claire City carried by a vote of 29 to 5. The vil lage authorities will go to New Ef fington some time this week and se cure a contract from the New Effing ton Electric Co., to supply the current here upon the terms agreed upon, and will then get busy and let the con tract tor the construction of the sys tem.—Claire City Press. Taxes Delinquent After October 81st Taxes unpaid after Oct. 3 let will be delinquent and one per cent-pen alty charged on the last one half. Pay them now and avoid the rush the last of the month. NO. 10. Drive for ltcttcr Schools With the eyes of the educators of the middle west turned toward South Dakota, the statewide drive for better rural schools, opens October 27th for a three weeks' intensive campaign Offers of help are pouring in from all sides to Fred L. Shaw, state sup erintendent of instruction, speakers of prominence all over the state are volunteering to spend their time con vincing the people that a "square deal for the country boy and girl" is needed before South Dakota rural schools will show the standard that the wealth of the state should insure. Aurora county was first to respond to the call for aid and others are fol lowing. Every county in the state will be visited and the objective of the campaign brought to every home in the state: The richest state per capita in the United States, now ranks twenty second in education. The coming drive is intended to put it at the head of the educational movement that iq about to sweep the country. It the need of the nation for food is to be met and the production not dimin ished, the children on the farms must be givenxequal educational advantag es with those in the city or they will seek the city schools. Is the grain crop of South Dakota greater than the boy and girl crop? Think it over. SCHOOL NOTES Total enrollment In the High School is now 130. .1" The sale of season tickets for the Lyceum Course lias been very suc cessful and we have now more sold than is necessary to pay for the course. Every ticket bought from now on will be used in paying tor the new piano that is to be bought for the High School Assembly. Monday morning the High School pupils listened to an address by Dr. Doyle who is here in connection with a commercial project at the local theatre. Dr. Doyle who is a Wisconsin graduate and who has been a school man .of. senne note telked^iTpu^ji« Learning Attitude and pointed oiU'Tq the pupils that theirs was the age that furnished the best attitude toward learning. Tuesday afternoon the pu pils listened to a talk by Chaplain Squires who is campaigning the state in behalf of the American Legion The Chaplain made a strong appeal to the pupils to Work hard and' to play hard, but above all, to love their country. The four classes of the High School have met and organized and are planning a series of social events for the winter. Following are the of ficers and advisors of each class: SENIOR— President, Carl Peterson Secy, and Treas., Kenneth Carlberg Advisor, Mr. Northrup. v. JUNIOR— President, Ruby Arrowsmi^h Secy and Treas., Alice Swanberg Advisor, Miss Small SOPHOMORE— President, Fern Jackson Vice Pres., Milton Jorgenson Secy and Treas. Rosa Weis 1" Advisor, Miss Stark ,v FRESHMAN— President, Phyllis Parker Secretary, Nila Jackson Treasurer, Vivian Lien. The beginning of next week will see the start of the two newly formed literary societies. Plans are being in itiated for six months competition be tween these two societies which will terminate next spring in a half-holi day. At that time the losing society will provide all the entertainment and furnish the refreshments, while the members of the winning society will be the guests. Carroll Babcock and Arthur Stavig, both Seniors,' are the captains of the two societies. Com petition will be based upon regularity and promptness of attendance, scholar ship, deportment, and upon contests in basket ball, deba!?. declamatory and extejnporaneous sp'-akins. Miss Calvert of the high school faculty Is in charge of the work of the societies.J Their standings will be given from time to time in the school notes. If Langer had sought to bring prosecutions he would have been scrupulously careful to keep every thing intact. He would have given no slightest opportunity to the officers and directors to claim that anything had been tampered with. As It Is, thanks to banger's action, nobody lives who can now swear to-j^hat was or was not In the Scandinavian-Am erican bank.