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Speaking of state funds in suspended banks in the state, the Wahpeton Globe says, with reference to some criticisms that have been passed: These banks suspended during the disastrous period brought about by democratic mismanagement. The state was supposed to be protected by bonds, signed by men who could pay. It was found, however, that the bondsmen were as poor as the banks, their assets having been put in such condition by the democratic financial maelstrom that to attempt to realize upon the bonds would be to involve all parties in inextricable financial muddles. Men who were good financially when they signed the bonds had become involved, and suits to force them to pay would have been expensive and fruitless. When McKinley was elected, the business of the country was put upon a better basis, the management of the banks, then in the hands of receivers, commenced to realize upon the securities, and every little while dividends were declared, until at this time more than fifty per cent of the entire amount in the five suspended banks has been paid the state. It is quite likely that the Citizens National of Fargo, and the First National of Pembina will pay out entirely, while the Grand Forks National may pay 50 per cent. The Second National of Grand Forks has already paid more than fifty per cent, and will pay more. The Minot bank is a case where little will be paid by the receiver, and nothing can be collected from the bondsmen. Deputy State Treasurer Cook furnishes the Globe with the following statement which shows. the amounts that were in the state depositories at the time of their suspension, and the amounts that are due:
