Evening Republican, Volume 23, Number 284, Rensselaer, Jasper County, 29 November 1920 — MAY ALTER N. DAKOTA LAW [ARTICLE]

MAY ALTER N. DAKOTA LAW

Initiated Measure Affecting Banking Now Causes Concern Jn State. Bismarck, N. D., Noy. 29. —After a session of the state banking board no announcement as to any action decided upon in regard to the financial situation in. North Dakota was given out. “There is nothing alarming In the situation,” said one member of the banking board. “The great majority of the banks will have all aid necessary from out of state connections and most of the failed banks will be reopened. Conditions will not be alarming even if as manj as 15 more small banks close temporarily." Negotiations between bankers of the state and the officials of the Bank of North Dakota to alleviate the situation which may arise next week when the Initiated law permitting withdrawal of public deposits becomes effective, were at a standstill Friday. The bankers of the state demand a special session of the legislature to repeal the present banking law. while officers of the Bank of North Dakota, explaining they have not sufficient assurances to change their positions, say they may have to withdraw large sums from country banks In anticipation of withdrawals by local treasuries.