1116401452 111640
national
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California Bank Is Temporarily Closed GRIDLEY, Dec. 18.-The First NaTional bank of Gridley, Cal., today temporarily suspended operations by order of the board of directors, Manager J. A. Shafer announced, The suspension presumably was Que to insufficient reserve, resulting from heavy loans made to rice grow. ers in this district. The condition of the rice erop due to storms hastened the closing. Deposits were said to total $200,000.
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BANKER FACES 21 CHARGES Thos. J. Sheridan, chief deputy U. S. dist. Atty., outlined the government's case Wednesday in the trial of J. A. Shafer, former president of the defunct First National Bank of Gridley. Shafer was charged by Sheridan with negligence and attempts to run the bank with inexperienced help. Ten charges were based on unsecured loans, seven on alleged embezzlements, three on alleged false entry, and one on a loan exceeding the amount allowed under the federal banking laws. John T. Williams, U. S. atty., is in charge of the prosecution. The jury which was impaneled Wednesday includes C. L. Arart, B. L. Oymar, R. A. Dunbar, J. C. Luce, C. E. Phipps, J. K. Reese, P. D. Reese, J. C. Daily, Henry Baas, Wm. S. Hart, F. A. Johnson and R. E. Pierce.
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Gridley Bank Receiver Sues By Associated Press Leased Wire to Enterprise SAN FRANCISCO, Aug. 20.—H. P. Spencer, receiver of the defunct First National bank of Gridley, filed suit in the United States district court here to recover $35,000 from five directors of the bank, which it is alleged that they loaned from the bank's funds without proper security. One of the directors named is J. A. Schafer, who is serving a term of nine years in Leavenworth penitentiary for an offense connected with the bank failure.
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BANK RECEIVER BRINGS SUIT AGAINST DIRECTORS GRIDLEY, Aug. 25.—Naming former directors as defendants, H. P. Spencer, receiver for the First National bank of Gridley, has filed in the United States district court a suit against the former officers to recover funds which it is alleged were negligently loaned in excessive amounts before the institution was closed. It is alleged that approximately $35,000 is due to the defunct bank for loans made in excess of the amount which the directors were lawfully entitled to loan to borrowers. J. A. Schafer, one of the defendants, is now serving a nine-year sentence in the federal penitentiary at Leavenworth, Kan., for his connection with the bank's failure.
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JUDGMENT GIVEN TO GRIDLEY BANK RECEIVER A formal entry of judgment in favor of A. L. James, receiver of the First National Bank of Gridley, against J. A. Schafer, former cashier of the bank, and his wife. The judgment covers claims aggregating $43,062.27, and authorizes the sale of lands transferred by Schafer to his wife to cover the claims. The transfers are declared to have been fraudulently made. Schafer is now serving a term in the Federal penitentiary at Leavenworth for wrecking the bank.
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GRIDLEY BANK RECEIVER SUES ON MORTGAGES OROVILLE (Butte Co.), Jan. 26.—H. P. Spencer, as receiver of the defunct First National Bank of Gridley, yesterday filed another suit to collect outstanding accounts due the bank. M. F. Abreu and M. S. Luis, Gridley farmers, are named defendants in a complaint to foreclose a chattel mortgage in which $3,128 is at stake. The sum of $3,600 was loaned Abreu and Luis December 12, 1919, it is charged, on which only $472 is said to have been paid. The note was due one year after date.
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Bank Receiver Files New Suit H. P. Spencer, as receiver of the insolvent First National bank of Gridley, yesterday filed another suit in the superior court to collect outstanding accounts due the bank. M. F. Abreu and M. S. Luis, Gridley farmers, are named defendants in a complaint to foreclose a chattel mortgage in which $3128 is at stake. The sum of $3000 was loaned Abreu and Luis December 12, 1919, it is charged, on which only $472 is said to have been paid. The note was due one year after date. Spencer asks that the security, consisting of five head of cattle, four horses, seven pigs, 50 chickens and some farming implements be sold. King & King, of Gridley, represent Spencer.
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Gridley Bank Receiver Sues on Old Mortgages H. P. Spencer, as receiver of the defunct First National Bank of Gridley, has filed another suit in the Butte superior court to collect outstanding accounts due the bank. M. F. Abreu and M. S. Luis, Gridley farmers, are named defendants in a complaint to foreclose a chattel mortgage in which $3,128 is at stake. The sum of $3,600 was loaned Abreu and Luis, December 12, 1919, it is charged, on which only $472 is said to have been paid. The note was due one year after date.
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Sue Bank Receiver OROVILLE, May 19.—Attachment proceedings against H. P. Spencer, as receiver of the insolvent First National bank of Gridley, to collect $750 and cost of suit were filed by J. R. King and Mary King, attorneys of Gridley, who claim the money due for legal services rendered the plaintiff as receiver.
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Suit Against Bank May Be Compromised In connection with attachment proceedings taken the first of the week by Attorneys King & King of Gridley, to secure payment of $750 alleged to be due for counsel fees from the First National Bank receiver, it is understood that the amount alleged to be due, $750, is the balance of a claim for $1,000 as the fee to the Kings for services in connection with the suit of J. L. James, receiver, vs. Schafer for the setting aside of the unlawful transfer of real estate. It is understood that the Kings have received satisfactory remuneration for other services, and that the comptroller of the currency has the claim for $750 under advisement and a compromise may be affected.
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Bank Asset Sale Set for Tuesday GRIDLEY Oct. of the remaining assets of the defunct First Bank of Gridley, amounting to will be held on Tuesday morning. Oct. 30, at 10 the office Kitchin and Ingram through Kitchin, who under appointment of Joseph Gamble, national bank receiver. The sale was to have been held this but the date was postponed one The former local bank crashed in 1921. father and son banquet planned for Nov.
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Bank Receiver Institutes Suit Joseph A Gamble, receiver of the First National Bank of Gridley, filed suit in the county clerk's office today against J. A. Schafer, Clara E. Schafer, F. M. Eidson, A. M. Klepinger. F. A. Schalow and others to quiet title to a lot in Parkside addition in Gridley.