Business & Finance: Farmers & Banco

Herman Bosshard is a truck farmer in Clay County, Minn., just across the Red River from Fargo, N. Dak. One day last summer by a squiggle of his pen Farmer Bosshard suddenly made himself an immensely important figure in the political and financial life of Minnesota. What he signed was a complaint against 19 directors of Northwest Bancorporation, charging second degree larceny for selling him ten shares of stock for $220. Farmer Bosshard was persuaded to sign the complaint by henchmen of Farmer-Laborite Governor Floyd Bjornstjerne Olson.

From a strictly banking viewpoint the Governor...