1053001474 105300
national
5683efc3e5b69c03None
Click image to open full size in new tab
MONTANA BANK SUSPENDS. GREAT FALLS, Mont., October 5.Doors of the Commercial National Bank here did not open this morning, suspension having been announced last night by the board of directors. The suspension announcement gave the bank's deposits as $1,202,000 and its loans $1,505,000.
Click image to open full size in new tab
Great Falls, Mont., Bank Suspends Great Falls, Mont., Oct. 5. Doors of the Commercial National Bank here did not open this morning. suspension having been announced last might by the Board of Directors. The suspension announcement gave the bank's deposits as $1,202,000 and \ its loans $1 505,000.
Click image to open full size in new tab
MONTANA BANK SUSPENDS. Great Falls, Mont.. Oct. 5.-Doors of the commercial National Bank here did not open this morning, suspension having been announced last night by the board of directors. The suspension announcement gave the banks deposits as $1,202,000 and its loans at $1,505,000.
Click image to open full size in new tab
MONTANA BANK CLOSES. GREAT FALLS, Mont., Oct. 5.-Doors of the Commercial National Bank here did not open this morning, suspension having been announced last night by the board of directors. The suspension announcement gave the bank's deposits as $1,202,000 and its loans $1,505,000.
Click image to open full size in new tab
Bank Doors Fail to Open. Great Falls, Mont., Oct. 6.-Doors of the Commercial National Bank here did not open, suspension having been announced by the doard of directors. The suspension announcement gave the bank's deposits as $1,202,000 and it. loans $1,505,000.
Click image to open full size in new tab
Montana Bank Closes. GREAT FALLS, MONT., Oct. 5.Doors of the Commercial Nationa Bank here did not open this morning. suspension having been announced last night by the board of directors. The suspension announcement gave the bank's deposits as $1,202,000 and its loans $1,505,000.
Click image to open full size in new tab
Montana Bank Suspends. Great Fails, Mont., Oct. 7.-Doors of the Commercial National bank here did not open, suspension having been announced by the board of directors. The suspension announcement gave the bank's deposits as $1,202,000.
Click image to open full size in new tab
Great Falls, 'Mont.-Doors of the Commercial National bank here have closed. The suspension announce. ment gave the bank's deposits as $1,202,000 and its loans at $1,505,000.
Click image to open full size in new tab
Great Falls, Mont.-Doors of the Commercial National bank here have closed. The suspension announcement gave the bank's deposits as $1,202,000 and its loans at $1,505,000.
Click image to open full size in new tab
WILLIAMS IS RECEIVER OF COMMERCIAL Federal Examiner Named to Act Pending Working Out of Reopening Plans. F. D. Williams, federal examiner in charge of the Commercial National bank of Great Falls since that concern suspended early last month, Monday was named receiver of the bank by D. R. Crissinger, comptroller of the currency. Mr. Williams' commission is effective at once and he will immediately take over the management of the bank pending the working out of reopening plans by the stockholders. Will Collect Stock Liability Because of circumstances preceding Mr. Williams' recommendation to the comptroller that a receiver be appointed, it is generally expected that he will at an early date make demand upon all stockholders for payment of their stock liability. Plans under way with the stockholders to reorganize the bank were interrupted by the refusal of a few minor share owners to pay their stock liability until a receiver was named. Other plans for refinancing the bank are well advanced, it has been stated, and early development in the work in progress is expected by those closely in touch with the bank's' affairs. Detailed announcement of the refinancing methods contemplated has not been made, but it has been stated on reliable authority that the banks expects to reopen with its affairs in good condition. Government Will Help Mr. Williams said after his appointment that it always is the government's policy to give all possible assistance in the reorganization of a closed bank. Mr. Williams is a permanent member of the comptroller's corps of examiners and once before has served as a bank receiver in Montana. This was at Butte, where he liquidated a savings bank following its suspension. Much of the work looking to reopening of the Commercial bank is in the charge of J. C. Peters, chairman of the board of directors, who is expected home today from a business trip to Chicago, where he was called in connection with his oil interests.
Click image to open full size in new tab
ANOTHER BANK ASKS RECEIVER Receiver for the Commercial National Bank of Great Falls, which suspended October 4th, has been asked of the comptroller by F. D. Williams, federal examiner, and it is understood that V. M. Smith, who was receival of the First National Bank of Poplar, will be appointed. Miss Constance Duckstad, one of our city school teachers, spent Thanksgiving with her parents at Columbus, N. D.
Click image to open full size in new tab
PROSPERITY DUE WITH BUSINESS BOOM STARTED Commercial Bank Reopening Proceeding Rapidly, Says Peters. The optimism with which Montana is looking ahead to the new year is fully justified as viewed in connection with the general trend of the business situation in the east, it was stated Tuesday by Julius C. Peters, president of the Homestake Oil company and chairman of the board of directors of the Commercial National bank, following his return from a trp to Chicago, New York and Washington. "Business is decidedly on the upgrade in the east," said Mr. Peters, "and there is confidence everywhere that the next year will seek marked progress made in many branches of industry. One of the signs considered to be favorable is an apparent clarifying of the European situation as it affects foreign buying. There is strong hope that Germany will be in position during the next year to make large purchases in the United States, which with improved markets in other countries would mean a better demand for America's surplus grains and metals." Mr. Peters stated that work looking to the reopening of the Commercial bank, which suspended October 4, is progressing to the entire satisfaction of the board of directors and that the bank will resume business early in the spring. "So far as outside financing is concerned, the work is completed," said Mr. Peters. "When the stock assessment has been paid and we have made necessary arrangements with the depositors, we will be ready to resume without further delay. The comptroller of the currency assured me of full co-operation and the eastern creditors have shown the finest possible spirit. "It is my understanding that the comptroller will ask that the stockholders pay their assessments within 90 days, which would leave this portion of the organization work completed by April 1. It is very probable that by that time we will have completed satisfactory arrangements with the depositors and it should take little time after April 1 to reopen." Mr. Peters arrived from the east Tuesday morning.
Click image to open full size in new tab
NOTICE Treasury department, office of the comptroller of the currency, Washington, D. C., December 29, 1922. Notice is hereby given to all persons who may have claims against "The Commercial National Bank of Great Falls," Montana, that the same must be presented to F. D. Williams, receiver, with the legal proof thereof, within three months from this date, or they may be disallowed. D. R. CRISSINGER, Comptroller of the Currency.
Click image to open full size in new tab
BOSLEY WANTS BONDSMEN TO PAY DEPOSITS Alderman Asks Council Take Action Where City Cash Is Tied Up. Reading of a communication from City Treasurer W. P. Wren concerning the closing of the doors of the Stanton Bank and Trust company, in which the city had deposited $36,000, covered by personal bonds, precipitated an attack at the meeting of the city council Monday night by Alderman G. A. Bosley against the city's attitude regarding money in closed banking institutions. Bosley urged immediate action against the bondsmen to recover $25,000 which was on deposit in the Commercial National bank, closed in October, 1922. Mayor H. B. Mitchell replied to Alderman Bosley, saying that he understood the Commercial bank was soon to reopen. The mayor said that at a recent conference of the aldermen, Alderman George Anderson, a banker, said he had every reason to believe the Commercial bank would reopen within a short time. "We don't want to do anything that will hinder the bank's reopening," said Mayor Mitchell. City Attorney George A. Judson said that it would not do the city any good to rush things and start an action at this time against the bondsmen. Alderman Bosley closed the discussion by stating that if the city was not losing its rights in the matter by present delays, it would be better not to start action against the bondsmen at this time. Report of the failure of the Stanton bank was referred, without action by the council, to the judiciary committee and the city attorney. At the request of Mayor Mitchell, the city garbage system was transferred from the city sanitary department to the office of the city engineer. The action was taken to give William Shea, city-county sanitary officer, more time to devote to general sanitary affairs of the city.
Click image to open full size in new tab
ENTERED FALSE DEBITS, CHARGE INDICTED BANKERS DECEIVED U. S. COMPTROLLER FOR YEAR, IS TESTIMONY. Special to The Record-Herald. GREAT FALLS, Dec. 14.—Progress of the prosecution's case in the federal court trial of R. B. Noble, E. R. Funk and J. C. Peters, former officers and directors of the Commercial National bank, indicates that the government's charges are largely build around the allegation that for nearly a year prior to the closing of the bank the defendants deceived the comptroller of the currency as to its condition by entering false debits against other banks.
Click image to open full size in new tab
BOTH MEN VERY PROMINENT IN GREAT FALLS Great Falls, Dec. 20.—Julius C. Peters and R. B. Noble, directors of the defunct Commercial National bank, found guilty Saturday in the federal court of making false entries in the books of the bank were this morning sentenced by Judge George M. Bourquin to two and a half years at Leavenworth and fined $2500 on the first count and the same time sentence on the other 24 counts, the sentences in the penitentiary to run concurrently. REAL PEOPLE Julius C. Peters, is a young lawyer of Great Falls who has met with unusual success in a financial way within the past few years, being president of the Homestake Oil company of Cat Creek, the Homestake Exploration company and the Hard Rock Oil company of Salt Creek, Wyo., and was rated at the time of the bank failure October 4, 1922, as a millionaire the Cat Creek company alone bringing in 17 wells without a dry hole. He is a son-in-law of L. H. Hamilton, president of the closed bank, a pioneer sheep man of the northern part of Montana and who sold a part of his sheep and land holdings a few years ago for $400,000. BEST PEOPLE FOR 25 YEARS R. B. Noble has lived for 30 years in Great Falls, is head of the Noble Mercantile company, the largest retail grocery house of Great Falls, owns many ranches and much city property, was chairman of the Great Falls school board, former alderman, president of the West Side bank and prominent in civic life of the city for a quarter of a century. Peters is a man 36 years of age and has a wife and three children, while Noble is 58 and has a wife and nine children living. Stay on execution of sentence was given until Saturday when motion for new trial will be heard and decided. Thus the spell of the former charmed life of bankers seems to be broken. GETS CHILDREN'S PENNIES This bank just before it closed its doors, carried on a Thrift campaign among the school children of Great Falls, whereby it got possession of hundreds of dollars in pennies and dimes from the kids.
Click image to open full size in new tab
That Julius C. Peters, a director in the closed Commercial National bank, had virtually admitted, during his prosecution in federal court in December, that he and other stockholders in the bank were liable for about $80,000 under the terms of indemnity agreements, was the ground on which the Aetna Casualty company moved in district court to strike the demurrer of the defendants to its suit for recovery of $20,000 of Cascade county funds on deposit in the bank when it closed and guaranteed by the casualty company. After a hearing before Judge H. H. Ewing both sides were instructed to submit briefs on points raised in support of and objection to the demurrer.
Click image to open full size in new tab
Receiver Announces Dividend Announcement is made by Receiver T. E. McClintock of the Commercial National bank of Great Falls, which closed its doors October 5. 1920, that a dividend of 15 per cent will be paid within the next two weeks, the dividend checks now being in Washington for signature. The total of the dividend, which is the first to be paid, amounts to $220,000.
Click image to open full size in new tab
Receiver Announces Dividend Announcement is made by Receiver T. E. McClintock of the Commercial National bank of Great Falls, which closed its doors October 5, 1920, that a dividend of 15 per cent will be paid within the next two weeks, the dividend checks now being in Washington for signature. The total of the dividend, which is the first to be paid, amounts to $220,000.
Click image to open full size in new tab
COMMERCIAL BANK RECEIVER CALLED TO WYOMING CITY T. E. McClintock, receiver of the Commercial National bank of Great Falls and the Stockmen's bank of Fort Benton, has been called to Cheyenne, Wyo., to take charge temporarily of the First National bank of that city, which recently closed. During his absence J. E. Rigler is in charge of the local bank and James M. Bartley taking care of the Fort Benton bank. Mr. Bartley will also have charge temporarily of the Highwood and Carter banks which were under Mr. McClintock's supervision.
Click image to open full size in new tab
J. P. Rigler, as Receiver of The Commercial National Bank of Great Falls, Montana, a corporation, Plaintiff,
Click image to open full size in new tab
J. P. Rigler, as Receiver of The Commercial National Bank of Great Falls, Montana, a corporation, Plaintiff,
Click image to open full size in new tab
BANK AT CARTER WILL PAY DIVIDEND OF 20 PER CENT Immediate Distribution Is Announced by Receiver, to Total $15,000; First Payment Made Since Closing Immediate distribution of a 20 per cent dividend by the First National bank of Carter was announced Wednesday by Receiver J. P. Rigler, who recently was appointed to the receivership of that bank and of the Commercial National bank of Great Falls. The total distribution will approximate $15,000. Payment of the dividend now follows collections on the bank's paper, which have created a cash fund that makes
Click image to open full size in new tab
J. P. Rigler, as Receiver of Th Commercial National Bank of Great Falls, Montana, a corporation, Plaintiff,
Click image to open full size in new tab
CAL RELEASES GT. FALLS BANK CROOKS Bankers Convicted By Montana Jury of Falsification of Records of Commercial Bank Paroled By President—News Kills Former Cashier. Great Falls.—A telegram received here by State Senator J. W. Speer, attorney in the case, from the attorney general in Washington, states that he today signed a parole for J. C. Peters and R. B. Noble, vice president and director respectively of the Commercial National Bank which closed here October 4, 1922, and for falsification of the records for which both men were found guilty. They were sentenced in the federal court here to 30 months' prison and $2,500 joint fine and costs. Their appeal failed and they went to Leavenworth last December. The fine and costs, amounting to $4,000 have been paid. Peters, previous to his conviction had been a practicing attorney, president of the Homestake Oil company and was rated wealthy. Noble was a merchant and banker and also was rated as wealthy. Ray Funk, cashier of the Commercial National, and indicted with Peters and Noble but a witness for the state, died here last night a victim of nervous prostration. After the conviction of Peters and Noble the indictment against Funk was quashed. NOBLE'S DOWNFALL Noble was the leader of a gang who kidnapped J. Moran, who was editor of Town Topics five years ago, and brutally assaulted him at Cascade and Great Falls. Moran printed a squib in Town Topics warning of the danger of Noble having access to the vault. Shortly afterwards Noble was removed from the office of the bank. He afterwards repented of his assault on Moran and his opposition to labor and assisted the families of railroad workers in Great Falls during the shop strike.