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RECEIVER NAMED Charles C. Storing, who for several years has made his headquarters at Aberdeen, S. D., has been named as receiver of the closed Merchants National Bank of Mandan by U. S. Comptroller of Currency Dawes and is expected to arrive in the city today to assume charge. of the institution and to relieve Irwin P. Wright, Minneapolis, the national bank examiner under whose order the institytion was closed.
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# SUE FOR FUNDS Suit for recovery of $10,062, deposits of Morton county in the Merchants National Bank of Mandan closed several months ago was filed in district court today by States Attorney L. H. Connolly in behalf of the board of county commissioners. The Northern Trust company of Fargo was surety of the Merchants National Bank and the suit for recovery of the money is directed against the Fargo institution. The amount $10,062 represents all of the money of all county departments on deposit in the closed bank at the time it suspended operation and the county is held fully protected.
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# MANDAN NEWS # CASE GIVEN JURY The jury was given the case of Daisy Glander, vs. L. W. Glander in district court late yesterday afternoon. The case involves the carrying out of a contract alleged to have been made before their marriage concerning the payment of money. The jury in the case of C. C. Storing, receiver of the Merchants National Bank of Mandan vs. C. R. Robertson brought in a verdict for the plaintiff of $1731.00. The question involved the liability of Mr. Robertson on the purchase of stock in the bank and also his liability for an assessment levied by the receiver.
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THE BISMARCK TRIBUNE ceiver in cleaning up the affairs of both banks and the expense will be prorated between the two, thus cutting down administration costs, Mr. Storing said. The Merchants National Bank of Mandan was declared insolvent shortly before Christmas, 1923. One 15 per cent dividend has been paid to depositors and the receiver intimated that another substantial dividend might be forthcoming soon. The Turtle Lake bank was closed a few weeks ago.
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STORING GETS NEW JOB C. C. Storing. receiver of the Merchants National bank here under appointment of the U. S. Comptroller of the Currency, has received orders to combine his receivership of the local bank with that of the First National Bank of Turtle Lake, N. D., and has today taken over the property of the latter institution. Mandan will be the headquarters for the re-
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Mr. Webster Takes Hold as Receiver G. S. Webster, Bowesmont, N. D., has taken the place of G. F. Wilson with Mr. C. C. Stohring, federal receiver for closed banks, in the Merchants' National Bank. Mr. Stohring has three banks under his jurisdiction at the present time, one at Turtle Lake, one at Dickinson and the Merchants' National at Mandan. Mr. Webster went to Dickinson yesterday with Mr. Stohring to break into the work. He will be located there for some time. This work is carried on under the supervision of the controller of the national currency, at Washington, D. C. Mr. Wilson resigned some time ago, to go to the west coast with his wife and daughter, to live.
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# High Court Affirms # Decisions in Cases # Against Stutsman Decisions in two cases of C. C. Storing, receiver of the Merchants National Bank of Mandan, vs. W. H. Stutsman, have been affirmed by the supreme court. Stutsman, who was one of three sureties on a $50,000 bonds given by the bank to the city of Mandan, contended that his liability under the bond should be an offset to obligations which he owed the bank. The court held that such a set-off could not be allowed because it would constitute a preference under the federal law. The effect of the ruling, it was said, is to make Stutsman liable both for the bond on which he was a surety and for notes which he gave the bank.
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Judge Lembke Takes Special School Case Under Advisement After listening to testimony in the case of the Mandan special school district vs. W. H. Stutsman and H. L. Henke, Judge E. T. Lembke late yesterday afternoon took the matter under consideration and requested the attorneys for both sides to prepare briefs on the case. The school district is suing the two men for $4,000 for loss of deposits in the former Merchants National Bank. C. F. Kelsch is prosecuting the case for the school district, while L. H. Connolly and W. H. Stutsman are appearing for the defense. The case is the outcome of the closing of the Merchants National Bank three years ago, at which time the school district had a large deposit there, secured by personal bonds of Henke and Stutsman. Two dividends have already been paid by Receiver C. C. Storing but the major part of the deposit is still unpaid.
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a sum of $26,000 alleged to be due them as money advanced to the de- fendants for the purchase of grain, was expected to occupy the attention of the morning session today. The next case on the calendar is that of C. C. Storing, receiver of the Merchants National bank of Mandan, vs. A. D. Taylor and the Charles Wesley Burns Methodist Episcopal church in which the plaintiffs are asking for the recession of a transfer of stock. The court was to adjourn at noon today until 10 a. m. Monday.
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Testimony in Mandan Bank Stock Case Is Heard in Fed. Court The case of C. C. Storing, receiver for the Merchants National bank of Mandan, vs. A. D. Taylor and the John Wesley Burns Memorial Methodist church of Mandan et al is being heard in federal court before Judge Andrew Miller today. Storing is trying to determine the rightful owner of 10 shares of stock in the Merchants National bank so that the proper assessment may be made against it. Taylor alleges that the 10 shares of stock which were originally owned by him were assigned to the church. The church denies the allegation and asserts that the stock was never turned over to it.
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Federal Court Hears Case of Ashley Bank Law arguments in the case of the Ashley State bank vs. Joseph A. Gamble, receiver for the closed City National bank of Bismarck, are being heard in federal court before Judge Andrew Miller today. In the case of C. C. storing, receiver of the closed Merchants National bank of Mandan, vs. A. D. Taylor, the John Wesley Burns Memorial Methodist church et al, Judge Miller has delayed further action in the case in order to allow respective attorneys to prepare further information.
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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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Santa Claus Brings More Than $4,000 to Treasury at Mandan Santa Claus did not overlook Mandan. Yesterday he brought the Morton county city gifts totaling well over $4,000. it is announced by city officials. The city had a sinking fund totaling over $40,000 in the Merchants National bank, Mandan, before the doors of the institution were closed in December, 1923. Yesterday payment of a 10 per cent dividend to holders of receiver's certificates was ordered by the comptroller of currency. This brought total payment to 45 per cent. The city probably will collect its more than $4,000 sometime today, it is announced by W. H. Seitz, city auditor, and Charles D. Cooley, president of the city commission. More than that, the park board will collect almost $300 from the bank receiver. The park board, according to A. W. Furness. secretary, had a total of $2,539 in the institution when it closed.
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Santa Claus Brings More Than $4,000 to Treasury at Mandan Santa Claus did not overlook ManYesterday he brought the Morton county gifts totaling $4,000. is announced by city The city had sinking fund totaling $40,000 in the Merchants National bank. Mandan, before doors the institution were closed in 1923. Yesterday payment of 10 cent dividend to holders of certificates was ordered by the comptroller of currency. This brought total payment to 45 per cent. The city probably will collect its more than sometime today, is by W. H. and Charles Cooley. president of the city commission. More than that. the park board will collect almost $300 from the bank receiver. The park board. according to Furness. secretary. had total in the institution when closed.