1035501578 103550
national
e370aa8aa20312daCapital injected, Full suspension, Books examined
Run Closes Second Bank in Waukegan June Waukegan National bank, largest the city, did its doors today and was taken over the state office the of the board directors. run was made the bank terday after the bank had been closed. The National had deposits at the last
SHUT-DOWN ORDERED BY BD. OF DIRECTORS MAY BE TEMPORARY, REPORT Move Is Taken To Protect terests Of Depositors Who Did Not Withdraw Funds, And Indications Are That The Bank Will Reopen Within Ten Days; First National Takes Care Of Heavy Run Of Withdrawals And Is Safe. To protect the interests of depositors who declined to withdraw their funds following the closing of the Waukegan State bank yesterday, the board of directors of the Waukegan National bank decided against opening the institution this morning in the face of vast horde of depositors who were waiting to get their money. Indications are that the bank will be reopened within few days. As word of the closing of the Waukegan National was circulated around town, vast crowds gathered at the city's busiest corner, Washington and Genesee streets, and terrific was started on the lone maining banking institution. the First National bank. Charles Nelson Steele, greatgrandson of the founder of the First National and at present the institution's president, radiated confidence he moved in and out among the crowds in the foyer, helping the people make out their withdrawal slips and smilingly promising that all would get their money. Contact with Steele caused many those who came to to throw their glips. step attempt to reason with neighbors in the who were. caught in the general financial hysteria. Money Brought In Huge amounts of breaking the record brought into the city yesterday when the Waukegan State bank closed, delivered to the First National today and with the exception of depositors seeking to withdraw. the situation calm and confident. Faced with heavy run that threatened the safety of the institution this morning. the Waukegan National directors decided against opening and called in H. Reimnational bank examiner out of the Chicago office the chief national bank examiner. Mr. Reimers was temporarily charge of the bank but was to relieved today by Harry W. Walker. national bank examiner. Mr. Reimers failed to any very serious consequences in the situation and intimated that in his opinion the would be reopened within few days. To Reopen Safety Vaults To avoid confusion the safe deposit vault in the Waukegan Safe Deposit company, subsidiary the Waukegan National bank, was closed the but will reopened as soon the hysteria subsides. There comparatively few people gathered about the Waukegan National during the H. Burnett, president of the Waukegan National, his home after the meeting and was reported to be considerably upset by the turn events. He was unable to make statement. The capital stock of the Waukegan National $250,000 and the surplus $150,000 according the bank statement of March 25. The undivided profits, net, that time were $26,845 and the bank carries serve The deposits amounted to with total assets $4,076,071.34. The bank building. furnishings and equipment are valued $248,915.10. List Stockholders Stockholders of the Waukegan National Bank and the number of shares credited to each for tax (Continued on Page 2, Column
CIVIC LEADERS BEG PEOPLE TO SHOW COURAGE "We, the executive committee of the Chicago Chamber of Commerce, have an unbounded faith in Waukegan's financial institutions, and firmly believe that the situation is only temporary,' John Fulton, president of the chamber of commerce, declared today after an executive committee meeting at the Clayton hotel. confidence the future Waukegan's three banks, the First National, the Waukegan National, and the Waukegan State banks. was unanimously passed by the committee members the meeting, and depositors in any those financial concerns were asked keep faith with Waukegan and its future. Despite the hysterical rumors circulating through the city after the closing the State bank, and the clossing of the can National bank, chamber leaders feel that Waukegan will out of These rumors, believe, are absolutely groundless and will be proved false within the next few days. First National Makes Statement TO THE PUBLIC OF THE CITY OF WAUKEGAN AND LAKE COUNTY, ILLINOIS: We, the undersigned officers and directors of the First National Bank of Waukegan, state that said bank has been in business in the City of Waukegan, in the same for seventy-nine and upwards; that the assets said bank have never been in more liquid condithat they are at the present time; that the depositors will be paid in full; have adequate cash to meet any emergency. This bank was founded by Charles Steele, the grandfather of Charles Steele, the present president, has been known throughout Lake County Illinois as the "Steele" Bank during all of that period. Those who know the financial condition this institution and the men behind it, its record in the past, should public duty to this institution, and the City of Waukegan, assure people who are not so well acquainted with its condition and thereby restore confidence for benefit not only of an old, established financial structure but for the benefit of the people and the business men our city. THE FIRST NATIONAL BANK OF WAUKEGAN, ILLINOIS, Banking Corporation. By CHAS. N. STEELE, Its President. Attest: W. D. Secretary. HARDIE, WM. JONES. ALVAH ROGERS. CLAIRE EDWARDS, ALEXANDER BEAUBIEN, BERTHA M. STEELE, RALPH DADY, CHAUNCEY J. JONES, Directors.
North Chicago News DALZIEL SOUNDS OPTIMISTIC NOTE Favorable Audit Quells Fears Of North Chicago Bank Depositors. Sounding note of optimism, W. R. Dalziel, president of the Lake County State bank of North Chicago, today declared that the closing of the Waukegan State and Waukegan National banks have had very little effect on depositors of the local bank. "We have had fairly moderate withdrawals during the past two days," Dalziel said, "but no heavy run is anticipated.' At 9 o'clock this morning when the Lake County State bank opened its doors, not one person was on hand to withdraw their money from the North Chicago banking institution, it was learned. Announcement that the Waukegan National bank had closed its doors this morning, caused some flurry throughout North Chicago, and small number of depositors made withdrawals before noon. Increased withdrawals today, however, were attributed to the fact that number of people became excited when they learned that the bank was crowded with people. President Dalziel stated, however, that one of the local industries paid its employes today and most of the business transacted consisted of cashing of checks. Directors of the Lake County State bank and number of the large stockholders all expressed confidence in the financial condition of the North Chicago bank. "Two weeks auditors made careful audit of the Lake County State bank," Dalziel stated, "and the report was most favorable. A note of confidence was expressed at noon today in the lobby of the bank when James F. Stiles, director, and President Dalziel addressed group of depositors who had intended to withdraw their money. Both men stated that the bank was in sound financial condition and depositors were in no danger of losing penny of their money.
WAUKEGAN RUN FORCES ANOTHER BANK TO CLOSE The Waukegan National bank Waukegan, III., closed its doors yes terday following run which developed after the closing of the kegan State bank on the previous day. At the request of the directors the institution was taken over by the federal bank examiner. The bank had deposits March 25, last, capital and surplus of $150,000. Officials pressed the hope that an early would be The State bank, 5939 West institution with deposits of $80,000, was closed yesterday by the state auditor at the request of the board of The bank's capital was listed as $100,000 and surplus as Depositors of the Sheridan Trust and Savings have organized comof which is headed by mittee 25 B. Herbison to look after the inter ests of depositors. The committee has in the bank' will cooperate with the state and auditor in working out a plan of liquidation of the bank's assets. A similiar has or. by the depositors of the South Side Bank and Trust company The committee is headed by Eugene Abegg. Other members are Dr. Christopher S. John B. and Lewis F. Jacobson. will investi- at. torney. The the feasibility of early gate an dend for depositors and the possibil ity of reorganization.
RECEIVER AT NATIONAL BANK Speed In Federal Work Indicates Re-Opening Plans Are Rapidly Nearing Completion. Another step toward the reopening the National bank was taken today when Melvin Ericson, appointed by the comptroller of the currency. arrived at the bank as receiver and expected to receive the assets the bank from Harry W. Walker, federal examiner, either tomorrow the next day It with the receiver that the officials. directors and citizens' mittee working the bank reopening. must do business. Ericson, son-in-law of Ambassador Charles G. Dawes. formeran official the Biflex Products company here and well informed on the in Waukegan which will be of assistance the bankers in the toward the reopening of the bank After conferences with leading financial in Chicago yesterday, Burnett, president. was more confident ever that the openwould be completed in about 30 days. The formation of committee leading business professional men and industrial heads was being completed today and all feel confident about the future of the bank. Several questions have been raised about why the 30 day delay the reopening of the bank, but federal banking explained today that until all legal steps have been taken by the there can no toward reopening bank. and in view of the reopening efforts with the Waukegan National, these steps are ing rushed along as possible. It was explained that when tional bank closed, even though only for the protection of deposiexaminer takes examines the assets of the (Continued on Page 2, Column
RUSH PLANS TO REOPEN BANK Receiver Will Take Control Early Next Week And Reopening Will Start. Plans for the reopening of the Waukegan National bank moved steadily forward today with prospects of the actual organization for the opening being underway early week. Harry Walker, federal bank aminer, expects to complete the ceipt he is drawing up Monday Tuesday. The bank will then be turned over to Melvin B. Ericson, receiver, who will set up the regular receivers' books and the actual business of reorganizing or liquidating will be in order. All of that procedure under the national bank which that the funds of depositors be safeguarded before national bank is permitted to reopen While the preliminary legal steps are being by federal bank men, the process of making preparation for the reopening continued apace yesterday luncheon held at Glen Flora Country club at which industrial heads pledged support and confidence in the Waukegan Nationbank and its staff of officers and directors Eastern Heads Here Not only the local heads of the big were present but also of the industries with head offices in the east were by their was reported that several of these industrial leaders, after confidence in the Waukegan National, President Burnett and the official staff, pledged large deposits for the opening of the bank. While figures were not available. was reported that these deposits will aggregate near dollar mark and will be left dormant in the bank for long period of time. Bank officials and members of the citizens' committee are today more confident than ever that the Waukegan National will reopened safely All the big industrial men declared that at least two strong banks are an absolute Waukegan and they will bend every effort assist in reopening the Waukegan National As soon Mr. Ericson takes control of the Mr. Burnett and other officials the bank will called in to talk over the value of the assets of the institution.
WAUKEGAN NATIONAL OPENS FOR CLAIMS The doors of the Waukegan National bank were thrown open today Melvin B. Ericson for by Receiver since the bank closed the first time in June, to permit depositors to file for the their in later date. Those appay-off at bank today did pearing at the upon receipt of notices from Receivthem to call at Ericson the bank the notice, statement savings passbook other account, the bank. evidence of claim upon notices will be sent out each These several weeks and claimants day for to take heed and report are urged the bank on the day specified. at The action comes the natural course of business in clearing up the affairs of the closed bank and does way the efforts not hamper in any of depositors to reorganize and reopen the bank.
Frank G. Behringer Drops Dead In Home STILL WORK ON BANK OPENINGS Leaders In Effort To Open Institutions Give Further Data On Assessments. Conjecture on the part of residents interested in knowing which bank building would house the reorganized Waukegan National and Waukegan State banks should the plan to reopen the institutions today brought no definite from those working on reorganization. From their guarded statements presumed that would utilize the building best suited to their purposes and the conditions brought about by such merger. They did, however, their attitude on stockholders In the pointed that the assets of such combinawould assure every depositor dollar for dollar disbursement their claim there would be no necessity for an the other hand should the assets fail reach this point would fall to the stockholders to make up this deficit. On the basis of the present plan, there would sufficient resources assure to creditors without an assessment. Meetings were in progress in Chicago and Waukegan well today the aim to hasten the opening of the institutions.
2 CLOSED BANKS IN WAUKEGAN MAY REORGANIZE Nelson Trial Hinges on Full Pay Plan. Plans for a reorganization and merger of the Waukegan State and Waukegan National banks, which fall ed last June, were reported to have reached a definite stage last night The plan calls for payment of 100 cents on the dollar to depositors who lost $5,000,000 in the double crash. An of the plans is to follow meet ing Thursday or Friday in Chicago. As result of such reorganization and the in full of the depositors, it was said there would be no trial on charges of conspiracy of State Auditor Oscar Nelson. Norman O. Geyer. president of the Waukegan State bank, and George Woodruff, chairman of the Na tional Bank of the Republic in Chicago, since merged with the Central Trust company as the Central Republic Bank and Trust company. Prosecutor Refuses Comment. State's Attorney A. V. Smith of Lake county. who is prosecuting the state auditor and the bankers, admitted that the reports had reached his ears. He would have no statement to make on his procedure, he said, until after he had been convinced that the depositors be paid in full. It was stated by that most of the charges the automatically be canceled If the depositors paid in full. The trial is scheduled for Jan. Attorney Charles Weinfeld of the law firm Schuyler, Dunbar and Weinfeld. which is reported to be handling the legal details of the re. organization, said yesterday that the matter was being considered but that no definite could be made for week at least Schuyler, Dunbar and Geyer in the criminal proceedings. Gossip concerning the reorganiza. tion of the banks has named Melvin B. Ericson, of Charles G. Dawes, as the new president of the bank. The new bank would be national bank, It was rumored. and would be in the building which housed the Waukegan National bank. Judge's Drive Gets Results. Judge Feinberg continued cash from the debtors of the First Humboldt State bank. The substantial amounts which he has collecting recently are in addition the $210,000 which, It was announced State Auditor Oscar Nelson, would be paid shortly to the 15,000 depositors of the closed institution as dividends Two directors of the Humboldt bank Judge Feinberg that they would repay total of $26,000. One of them, Jacob Nilsen, an Oak Park contractor, told the judge he would pay the $16,000 debt of his nephew Hilmer Kolseth, Oak Park automobile dealer. The other, Soren T. Cory don. owner of department store at 2704 North avenue, promised to pay $10,000 on his general stock liability Just what the judge has contended with in arguing with debtors was presented in typical that Henry Stevens, 447 North Cicero av enue, a real estate man. Owes Bank $3,500. Stevens owes the bank $3,500 on mortgage. He started the bargaining by proposing to pay $100 a month. The as follows: THE COURT of the depositors would die of starvation if we had to wait that long. Can you raise speaking dollars? Make It $2,500. Will you take Sure you will. THE COURT-This is no debating society. Three thousand it stands. Don't you know people need coal and food in that neighborhood? Come back in week with the $3,000. Where do you keep all your money? STEVENS-All my money! There Isn't much and keep that at home. Pays Part in Cash. Stevens paid $100 in cash before he left the and was told to back in a week with the remainHenry Barkson, 2410 North Avers tailor, paid $200 In cash on debt of $2,416 and to raise the as soon as possible. renext to report progress Sam Wirskel 1625 North Spaulding pay anything on $1,300 but his mother in the when the judge began Intimating that Wir. skel was in danger of a jail sentence and came forward hurriedly. promisIng to bring in $500 in cash Monday and pay the remainder soon thereafter. Resumes Bain Quiz Today. The Bain bank investigation will be resumed today by Judge Feinberg Rumors that the judge will question John Bain in the Evangelical hospital of Chicago, where he is patient. were The judge last night called for medical report on Bain's condition to be submitted to him this Bain's two attending physicians at the are shid to have reported that the banker's condition prevents him from attending court or submitting to an examination in the hospital. However, the judge was told, two prominent examined Bain last week and decided that he is in good to be questioned by the judge. Judge Has Many Questions. The judge has stated that he wants ask the banker whose chain of 12 banks collapsed last June. He climaxed the last Bain hearing by holding two of Bain's sons and his son-in-law to the grand jury, but the state Supreme court them on writs of habeas corpus after they had spent eight days in the county jall, unable to raise bond. Judge Feinberg today will announce the names of the three lawyers who will assist him in his efforts to disassets of sixty banks. The judge has also been furnished number of accountants by the state auditor's office to assist him in his investigation. Thomas Marshall, assistant state's attorney and Indictment expert under two former administrations, was appointed yesterday by State's Attorney Swanson as a special prosecutor to aid Assistant State's Attorney Henry Ayers in his investigation of defunct banks.
PROGRESS ECONOMY AT SPRINGFIELD Secretary Of State Increases Legislature Spends Much Time Of Office; Drafts In But Enacts Code. Important Bills. marked William Stratton's the office General Assem bly sponsored by his office permitted Mr. Stratton approximately trucks which tofore proper payment automobile photostating for the hiring families for this work girl typists also the against secretary state bought the 1932 automobile plates for seven pair, the lowest for closing contract Mr. that materials used must be Illinois thereby to residents Drafts Safety Code taken the state the safety caused safety drafted for Illinois motor Several hundred these were Illinois and copies still from IIII many tigators from secretary state's office safety talks school children and also have done much compel servance vehicle law tice the tary state putting money from sale plates inter banks These funds promptly turned the state treasury the ending. the department tary office aided storing period the department qualified securities for sale Illinois and refused about $26,000,000 worthless the eleven years department been about curities been barred from Aside from department of which collects motor secretary of state's the largest revenue produc the state government. In collected approximately various kinds. Of this sum. came from the automobile license and foreign corporations $100,000 sources license into the state for used rest fees state treasury fund and used meet incurred by legislative enactments scription the $74,852 mark the drive The quota was $48,Charles Lofgren, U. accompanied Admiral Richard Byrd his flight the south spoke Waukegan township high school. gas slash for Waukegan was today by the North company Behringer and in the Bermuda trip contest. of the AmeriLegion home and Washlaid today Leckie, 72, veteran died injuries days ago in an automobile acciwill of the late Charles Dowst bequeaths Waufor maintenance an emergency and two boys killed and fourth girl was criticalinjured in an at Foss Park avenue, North when street car automobile. December slash one in the price milk announced today. will the first of the year. by county today with shoppers in Waukegan. Recreation hit the sixth victim of the cident. died yesterday the Her death leaves not single survivor the tragedy 14-Frank G. Behringer well the Bell dropped dead at his home heart attack cities the lake shore together oppose the invasion of interChicago trial of Oscar Nelson. state started today McHenry. an effort thaw out frozen accounts in the Waukegan National merchants Waukegan put scrip plan wherethey will accept up to per cent of the purchasers bank including McKnelly Waukegan and Clarence Gardner North Chicago, were Christmas accidents. New Year. London Daily with circulation 1,845,000 the largest in the world. New Zealand is testing the kauri source The weakest bone in the body collar bone JAMES TRIPP -Members house during 1931 regular and special made little work for that keeps scroll legislative energy the regular session passed the prohibition requiring contractors pay state projects ing the for and authorizing the state tax anticipation Dry Repeal. this Emmerson the Supreme sooner the prohibition repealer passed both than the killed his veto few months the regular the supreme wage law not tied construction favorable after refused participate until time could the the reapportionbill proved many candidates both now under grounds the Supreme Court cision the revision district early January the April primaries Arguments prohibition the highlights the the regular throughout the entire the subject taxation and cropped up again and again state the cure for the ills the but were unable ter enough for ratification had the The also killed proposals the county call convention for the purpose of remodeling revenue article of the constitution Senatorial also walked the boards from time time making persistent efforts crowd else the center the legislative Cook demands for absolute control both made action impossible whole subject relief for Chicago county governthe verge bankruptcy left the special session November cause political Chicalast Spring fought shy business after April then were unable agree upon proAppointed Finance Commission his leaders the that he would not call special session metropolitan area were upon what relief they needed. He appointspecial investithe revenue needs Cook county and state large After months of work, the decided program which the main features are the elimination of the boards review assessors Cook county and the enactment an individual state income These things are necessary, Chicago bankrestore the credit Cook governments. program by Republican leaders Chicago's Cermak None this noticthe which for weeks has been "perfect the program. the words Elmer Schnackenberg of the legislators for the twenty been the his signature handful those had with the revenue system the state or lief county On more occasion the upper house the assembly been the point adjourning the special session which Senator Michel of Peoria will down history "The Hen Pheasant Session" because the few acted measure extending closed season on hen pheasants. During the holidays Chicago memconference Chicago final effort bring about cial can whirlwind end early January give the and campaign for the primary election.
JUDGMENT CONFESSED AGAINST LOGAL MEN Judgment today was confessed against four business men with unpaid notes at the Waukegan State bank for Receiver Fred Brown Whitney by his counsel, Miller. Those named were M. H. Oscar Rubin and A. M. Rubin, owners of Rubins' Department and Thos. Killian, North Chicago plumbing contractor. The Rubins, the action recited, were indebted to the bank in the amount of $25,896.99 while Killian owed was indicated that further actions of this nature would be taken by the receiver. The course is the same as that followed by Melvin Erickson, receiver of the Waukegan National bank, who confessed judgments against number of debtors six weeks ago.
OBTAINS JUDGMENTS BY BANK RECEIVER Suits on debts and judgments totaling today were obtained in the circuit court Attorney Bairstow, counsel for Receiver Melvin B. Ericson, of the Waukegan National bank. The largest judgment was for $9,800 and was against Rubin. debt for $5,000 was filed against Sarah, Abraham, Benjamin and Nathan Diamond in behalf of the bank. These four persons, Bairstow said, guaranteed the payment of the note the bank for Diamond Iron & Metal company, now bankrupt. Those against whom judgments were confessed included: Milton Voorsanger, $900; William Schreck, $3,500; Harvey W. Miltimore, $2,600; Frank and Barbara Murphy $4,600; George Wutzler, $375; and Ellsworth Metcalf, $515.41.
DEPOSITORS TO MEET TONIGHT All Those With Accounts In Waukegan National Bank To Gather At City Hall. Meeting of depositors of the Waukegan National bank has been called for tonight the city hall o'clock at which it understood the the organization of the proposal new bank will be discussed fully with some the heavy depositors expressing their position. From what be learned it to harmony session, fully get the details before the depositors that they can learn first hand the posiwho have been intion of depositors directly and with the proposal for the new Circuit Judge Ralph Dady yesterday set April the last day for filing claims against the Waukegan State bank. Fred Brown Whitney The filed the list these creditors yesterday and unless objections made on before April these stand proven by the court. claims in this classificaThe total tion reach $55,228
INDICT PRESIDENT OF CLOSED INDIANA BANKS AS EMBEZZLER Michael Kozacik Jr., president of the defunct Indiana Bank of East Chicago and the First Indiana State Bank of Gary, also closed, was indicted by the Lake grand jury at Crown Point, Ind., on a charge of Judge Mar tin Smith set his bonds at $20,000. of $95,000 in bonds, made as collections by the bank for certain in which Kozacik was interested. At Waukegan State's Attorney A. Smith of Lake county announced yes. terday that he would insist upon trials for two bank case defendants next Monday if the proposed Citizens Trust and Savings bank at Waukegan is not opened by then. The proposed bank is being planned to take over assets of the closed State and Waukegan National banks. The defendants are George Wood ruff, Chicago banker, and Nor man O. Geyer, former of the Waukegan State bank. Their cases are scheduled before Judge Ed. ward Shurtleff at Woodstock On of their cases, the tor said, the charges against State Oscar Nelson would be tried. Today Judge Shurtleff will sit in the Waukegan to.set a date for trial for William H. Miller, orginally indicted with Geyer, Woodruff and Nelson.
IN BANK CLAIM Attorney For National Bank Receiver Seeks To Get Large Sum From Milling Co. Proofs of claim of the Waukegan National against the American Mill were put Circuit Ralph Dady by Attorney Bairstow, Melvin Ericson receivof the bank and Attorney Philip Populorum, Diver Populorum. The proofs offered getting judgment of confessed against The American Mill Supply was lothe Morning Glory Wrapper factory, Madison Spring streets, that the property estate The building the ground for complete contents baled rags, late October The origin the fire not ascertained believed have developed through spontanOfficials the company, according to Bairstow, indebted the bank on notes long overdue Several suits pending circuit claims amount about $40,000.
20 PER CENT IS ASSURED DEPOSITORS Second Dividend For Those It Waukegan National Bank Certain Before Christmas Checks In Washington. checks for depositors the Waukegan National bank that failed to open doors for business June 19, 1931, today arrived the office of the comptroller of currency from Melvin B. receiver of the bank. The checks approximate $500,000. which will be released the form dividend by the Waukegan Na tional bank prior to December 25. announced. Check Before Distributing The comptroller' office re check of these claim: and affix signatures a6 part the roatine before possible to send them back the bank for distribution among the Due to increased in the of fice the comptroller is possible that will take week of prepara tion before livident checks can be dispatched to the receiver of the bank. This is the second dividend of 20 per cent, give the total disbursement by up per cent to come from the National bank the second be possible, and that hoped to the checks the hands of the positors before Christmas. Assets Intact While no confirmation could received. there no records close of the assets such stocks, bonds, real including the Waukegan National bank build have to make these dividends possible. can be sumed that these assets are intact and held waiting more favorable realty and market while dividends paid collections from debtors the bank. The first dividend paid in April weeks elapsed fore the bulk of the money reached the depositors, large of group their leisure for their part of the dividend
PROOFS HEARD IN CHAS. NIMITS CASE Proofs were heard at noon by County Judge Persons in suit instituted by Melvin B. Ericson. receiver the Waukegan National bank, against Charles Nimits, of Nimits & Associates, to get printing equipment from Nimits to sell at public auction in the hope of paying part of Nimits' $560 loan at the bank Wanner Brothers, printing supply house in Chicago, claimed tit' presses through mortgages and asked that the bank receiver be restrained from selling them. After hearing proofs the case was continued until
BANK RECEIVER IN Waukegan National Collections Reach $33,914 During ThreeMonth Period. While the collections the Waukegan National bank fell somewhat shorter usually shown for month period, the statement issued today Melvin the receiver, disclosed that during the last quarwhich paying The receiver the the total since June 1933. The receiver collected total since and two dividends of second dividend loan of granted the bank by the and $153,500 repaid. last quarter $28,000 this loan was repaid. period liquidation only has been charged off losses. bank has cleared than its liability all preferred claims have addition the two dividends the The still shows profit to the depositors the has than expense has been large part of money has come rentals.
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$9,787 Unclaimed in Bank. WAUKEGAN, Ill. (AP)-Melvin B. Ericson, receiver of the Waukegan National Bank, reported he had $9,787 in "orphan" money. He filed suit in Circuit Court for a ruling on the disposition of money no one had called for. The cash represents unclaimed deposits in the now defunct bank.
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DDITIES o NEWS WAUKEGAN, ILL., Oct. 17-(UP) (By United Press) -Receiver Melvin B. Ericson of the W YORK, Oct. 17-(UP) - An Waukegan National Bank has $9,and a construction company 787.22 that nobody seems to want. an are the newest victims of He has asked the circuit court to York's anti-noise campaign. rule on disposition of the money owl, of the screech variety, which represents unclaimed deposits such "terrifying" noises, as a in the defunct security state bank. n telephone police, that it now carcerated in an S. P. C. A. DELAWARE, O., Oct. 17-(UP)r. The foreman was fined $5 A. c. Shively, farmer, reported findarting work outside a hotel at ing several plums growing on his n. Keifer pear tree. A Lombard plum tre grows near the pear tree. IND Oct 17-(UP)_
Penalties Box Score Geneva, Oct. 29.—(INS)—Following are the totals of nations agreeing to apply the various sanctions, as compiled at noon today: Arms embargo—38. Financial boycott—29. Boycott of Italian exports—27. Embargo on key products—8. Collaboration for application of sanctions—5. Bank Receiver Has $9,787 That Nobody Wants Waukegan, Ill., Oct. 29.—(U.P.)—Receiver Melvin B. Ericson of the Waukegan National bank has $9,787.22 that nobody seems to want.