Dakota National Bank (Dickinson, ND)

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CITY MAKING HUGE PROFITS IN UTILITIES

City of Rochester Records Over $100,000 in Year From Light and Water Plants

Rochester, Minn., Feb. 23.—Rochester, with a municipal electric light and water plant which showed over $100,000 profit last year, plans the cheapest rates in Minnesota in the future, and offers its municipal electric light and power service without profit as an incentive to industries to locate in the city.

The net profits are listed in the annual report of the public utility board as $88,828.29 and in addition $15,000 was placed in reserve, making a total profit of over $100,000.

It is planned to cut the rates during the present year, making possible greater consumption which is in turn expected to increase the profits of the city.

The experience of Rochester has spurred several other Minnesota cities and towns to the building of municipal electric plants. Owatonna, Minnesota, voted bonds for a light plant, 1700 to 500.

Rochester has outstanding $950,000 in bonds and $175,000 water works bonds, a total of $1,125,000. On January 1, 1924, the city had $245,000 in the sinking fund, $80,000 in the savings deposits account and $37,000 in the checking account, a total of $362,000. The city plans to pay off the waterworks bonds at the rate of $100,000 per year commencing January 1, 1926, and electric light bonds at the rate of $150,000 to $200,000 a year beginning January 1, 1927. Because of the exceptional profits of the light plant the city has been buying for its sinking funds its own bonds, and has bought back $67,000 of bonds issued.

The average cost to pump 1,000 gallons of water was 2.56 cents.

NEW PAINT AND GLASS COMPANY FORMED HERE

Announcement is made today of the establishment of the Bismarck Paint and Glass Company, a branch of the Dunham Lumber company, in the remodelled building at Fourth and Rosser streets. The Bismarck Paint and Glass Company takes over the retail business of H. H. Engen, dealer in paints and wall paper, according to H. S. Dobler, manager of the Dunham Lumber Company. The new company will deal in paints, glass, wall paper and brushes.

The old Franklin house has been remodelled and the interior made spick and span. A special alcove, finely lighted, was arranged for showing wall paper and large showcases and display shelves placed in the new company's sales rooms. The second floor will be used as a stock room.

SEES TARIFF BOOST AS SURE

Fargo, Feb. 23.—"There is no question in my mind but that the federal tariff commission will recommend that the tariff on wheat be raised from 30 cents a bushel to 45 cents a bushel," said Rex E. Willard, farm economist of the North Dakota Agricultural college, on his return from Washington.

Mr. Willard says the recommendation to the president is expected to be made within 10 days.

"The commission has not made a public statement to that effect, but all of the evidence seems to point in that direction, and in my mind there is no doubt but that the recommendation will be made to the president, who has the power to make the change."

HEAVIEST SNOW OF YEAR FALLS

Wessington Springs, S. D., Feb. 23.—The heaviest snowfall of the season was recorded here last night when between five and six inches fell. Moderate temperatures prevail and no suffering among livestock was reported.

KLANSMAN PARADE STREETS UNMASKED

Oklahoma City, Feb. 23.—The knights of the Ku Klux Klan of Oklahoma and several surrounding states staged a mammoth parade in the downtown streets here last night, the marchers being unmasked. Klan leaders said this was the first public demonstration in the history of the order in which the members appeared with their faces revealed. The marchers, however, were attired in the customary robes and hoods of the order.

ROSTDAL NOMINATION FOR CONGRESS ASKED

Grand Forks, N. D., Feb. 23.—L. R. Rostdal, Rugby, N. D., president of the North Dakota Bar association, announced while in the city last night that he will be a candidate for the Republican nomination for congress from the second congressional district.

RECEIVER NAMED

Dickinson, N. D., Feb. 23.—F. L. Vorachek, for the past three years in charge of the closed Beach State Bank at Beach, has been appointed receiver of the Dakota National bank which suspended business January 2 of this year. Mr. Vorachek took charge of the bank last week. Until that time it was under the supervision of a deputy national bank examiner.

GETS 5 YEARS

Grand Forks, Feb. 23.—Herman Helgeson, Osnabrock banker, convicted last week of embezzlement, was taken to Bismarck today to begin

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KLANSMAN PARADE STREETS UNMASKED Oklahoma City, Feb. 23.—The Knights of the Ku Klux Klan of Oklahoma and several surrounding states staged a mammoth parade in the downtown streets here last night, the marchers being unmasked. Klan leaders said this was the first public demonstration in the history of the order in which the members appeared with their faces revealed. The marchers, however, were attired in the customary robes and hoods of the order.

NOSTDAL NOMINATION FOR CONGRESS ASKED Grand Forks, N. D., Feb. 23.—L. R. Nostdal, Rugby, N. D., president of the North Dakota Bar association, announced while in the city last night that he will be a candidate for the Republican nomination for congress from the second congressional district.

RECEIVER NAMED Dickinson, N. D., Feb. 23.—F. L. Vorachek, for the past three years in charge of the closed Beach State Bank at Beach, has been appointed receiver of the Dakota National bank which suspended business January 2 of this year. Mr. Vorachek took charge of the bank last week. Until that time it was under the supervision of a deputy national bank examiner.

GETS 5 YEARS Grand Forks, Feb. 23.—Herman Helgeson, Osnabrock banker, convicted last week of embezzlement, was taken to Bismarck today to begin serving a five-year sentence in the state penitentiary.

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Voracheck Was

Receiver For the

Dakota National

F. A. Voracheck, who died yesterday in a government hospital at St. Paul, was receiver for the Dakota National Bank of Dickinson, not the First National Bank of Dickinson, L. R. Baird, receiver of state banks said today. The First National Bank of Dickinson has never been in the hands of a receiver, Baird said.

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Voracheck Was Receiver For the Dakota National

F. A. Voracheck, who died yesterday in government hospital at St. Paul. was receiver for the Dakota National Bank of Dickinson, not the First Bank of Dickinson, R. Baird. state banks said today. The First National Bank of Dickinson has been the hands of a receiver, Baird said.

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MORATORIUM OF WAR TIME CITED IN COURT ACTION

One case interest in which plaintiff brought records her husband. was tried at the term court just closed Stark county, according to Judge H Berry presided. Judge Berry and Court porter Broderick returned hom evening Dickinson. Mrs. Agnes Rademacher brought against Storing as of the defunct Dakota National bank alleging that the bank attached perty to her husband while in the service during the world and asking that the property be restored her on the grounds for all men was in effect Counsel for Mr. Storing charged the property was not and great records and was presented. The jury apparently believe in the theory for the verdict favored the bank receiver.

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MORATORIUM OF WAR TIME CITED IN COURT ACTION

One case of real interest in which the plaintiff brought records of her husband. was tried the term of court just closed Stark county, according Judge H. Berry who presided. Judge Berry and Court Re. porter Broderick returned home evening from Dickinson. Mrs. Agnes Rademacher brought against Storing as receiver of the defunct Dakota National bank alleging that the attached pro perty to her husband while he was in the service during the world war and asking the perty restored to on grounds general moratorium for service was effect. Counsel for Mr. Storing charged the property question was the husband's and great mass of records and testimony was presented. jury apparently didn't the moratorium theory for favored the bank receiver

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DECISION OF SUPREME COURT

From Stark County Frank L. Vorachek, as receiver of Dakota National Bank, a corporation, of Dickinson, N. D. Plaintiff and Respondent. VS. J. C. Anderson and Fred J. Flury, doing business as the Dakota Baseball Association, et al, Defendants. J. C. Anderson and Fred J. Flury, Defendants and Appellants. SYLLABUS: One who makes a contract on behalf of a voluntary association is personally liable thereon, although he is acting only as agent for the asso-

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MANDAN NEWS Mandan Bank to Pay 10 Per Cent Dividend Dividends of 10 per cent to depositors of the Merchants National bank, Mandan, 35 per cent to date; 10 per cent on the Dakota National bank, Dickinson, 45 per cent to date; and 15 per cent on the First National bank, Turtle Lake, N. D., 35 per cent to date, will be paid immediately according to an announcement today of C. C. Storing, U. S. receiver of the three defunct institutions. The Merchants National of Mandan closed in December, 1923, and the 10 per cent dividend announced is the third made, bringing the total of funds returning to depositors of $117,575.60 or 35 per cent. Dickinson depositors get their fourth dividend, making $79,741.83 returned, while the First National of Turtle Lake will pay its third dividend and $49,989.37 paid up to date. In addition Mr. Storing announces all borrowed money carried by the banks and secured by collateral has likewise been paid.

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RECEIVER STORING WILL TAKE VACATION National Bank Man at Mandan Will Be Succeeded by A. J. Biewar From Hannaford C. C. Storing. receiver for the Merchants National bank, Mandan, since it closed in December, 1923, is turning over its affairs to A. J. Biewar. named to succeed him, and will take a long vacation away from the grind of liquidating the liabilities of the Mandan institution and those of the First National, of Turtle Lake. and the Dakota National, of Dickinson. He will visit Minneapolis and Wash-

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Hannaford Man to Succeed Storing Dickinson, N. Dak., April 6.-(AP)-A. J. Bleiewar, Hannaford, has been appointed receiver of the Dakota National bank of Dickinson to succeed C. a. Storing, resigned, it was announced from the office of the comptroller of the currency. He will take charge of his new duties at once. The new receiver has been stationed at Hannaford for the last few years while closing up the affairs of the defunct First National bank there. He will make his headquarters at Mandan and in connection with his duties here will be in charge of the liquidation of other national banks in that city and at Turtle Lake.