Twin Falls National Bank (Twin Falls, ID)

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Loans Are Available to Closed Bank Depositors

Suspension of Twin Falls National Bank Monday Creates Little Furore

BANKS ISSUE STATEMENTS

In joint notice issued by the Twin Falls Bank & Trust Co., and the First National bank Monday afternoon, the information was given that the two banks were ready and willing to make loans to depositors of the Twin Falls National bank upon receiver's certificates soon as the same are issued by the receiver of the bank." With the two banks well fortified with cash resources to meet any demands, there is little if any furore in commercial and financial circles either in Twin Falls or throughout the district.

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SOUND FINANCIAL TONE

A sound financial tone prevails south central Idaho despite that Twin Falls National which Joseph Keewas Monday the hands of the Currency, with E. examiner charge. "It is hoped temporary suspension business will relieve statement issued by Bothwell, attorney the bank considered advisable suspend business on count of the lack of liquid assets to meet current he said. Deposits Less than per cent of the total bank deposits the city pointed the posits of the Twin Falls National the time of closing being $209.-

On Sept. 29. the date of the last for condition of banks, the bank had deposits and total resources capitalized for $150,000. Kee fer is cashier

Business as Usual Business Twin Falls Monday prevailed without interruption and deposits at the two other banks continued with few if any withdrawals was learned. Despite the loss suffered by deposiin the closed institution pointed out there was possibility the bank reopening or of paying substantially if remained closed permanently The notice posted on the door the institution which located direction the the this bank Wright, national bank examiner (Signed) E. M. WRIGHT "Closed by resolution of the board of directors. Closing of the bank came surprise to the community, but was indicated that heavy withdrawals Friday and Saturday necessitated the action for the protection of depositors.

PLUNGES TO DEATH NIAGARA FALLS, 23 man identified as M. Calinas waded into the Niagara river near Loon island today and was swept the Three men on Goat island witnessed the suicide.

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BANK RECEIVER ARRIVES IN CITY

Twin Falls National' Affairs Will Be Turned Over To Raymond H. Haase

Raymond H. Haase, who has been appointed by the Comptroller the Currency as receiver for the Twin Falls National bank, arrived in Twin Falls Friday night. It is expected that the affairs of the institution will be turned over him some time next week E. M. Wright, national bank ex aminer will be matter of about three weeks before the books the bank will be set Haase said in statement Satafternoon. "When this done, public will made and depositors will be permitted to come in and file their claims, but until then, matters will greatly facilitated if we are permited to proceed with this accountancy uninterrupted.' Mr. Haase has been with the department the past four years, previous to that time being with Bank of America on the coast. He came here from Bend, Oregon.

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Stuart H. Taylor Named Receiver For Local Hotel

Stuart H. Taylor was named Wednesday by Judge W. A. Babcock as receiver for the Rogerson Hotel (company, in an order issued at the conclusion of hearing of the potition for receiver entered by Robert Rogerson, G. H. Self and May Boyd, stockholders. and the Southern Idaho Wholesale Grocery company, Itewas stated in the petition that affairs of the hotel so intermixed with those of the Twin Falls National bank. which closed its doors recently, that operation of the hotel without receiver to act with the bank receiver would be

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HOTEL UNDER RECEIVER

TWIN FALLS (P) Stuart H. Taylor, Twin Falls, Wednesday was appointed special receiver for the Rogerson Hotel company here. The appointment was made by District Judge W. Babcock on application of the stockholders, including Robert Rogerson, veteran sheepman who built the hotel in 1908. The petitioners stated the affairs of the hotel were interwoven with those of the Twin Falls National bank which closed last week. They pointed out operation of the hotel without receiver to co-operate with the bank receiver was practically impossible.

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Committee Judges Prize Decorations

With the brilliantly lighted Two Suits Involve Christmas tree which the Twent!eth Century club has planted on Closed Bank Here the court house lawn. to flaunt challenge, and the Red Knights' Suk was filed in district court Christmas tree in the city park here Wednesday afternoon by Rayacross the street to echo it. Twin Falls citizens have interested them- mond H. Haase, Twin Falls Nate selves in the matter of beautify- ional bank receiver. against the ing the city and in sharing their Detweiler Mercantile company, Christmas trees with others Filer, to recover $12,038 alleged The Twentieth Century club and due on promissory notes. the Red Knights have taken the Suit was also filed Wednesday initiative in sponsoring each year afternoon by Norvin J. Keefer and contest. giving two prizes for MATINEE his wife against the Twin Falls the best and second best Christmas National bank. seeking cancellatree or other form of Christmas tion of a deed which is alleged rnamentation One of the requireto have been given to the bank ments of the contest is that the last July 6 by Joseph Keefer decorations be visible from the father of Norvin Keefer and formsidewalk The entire town is literally checker-boarded with gaily er president of the bank. lighted Christmas trees. some of CHARLES P. LARSEN COAL which flicker off and on, giving COMPANY. Phone 436, Castle Gate most scintillating effect committee from the The joint

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STATEMENT LISTS ASSETS OF BANK

Receiver Haase Reveals Twin Falls National's Finance Condition

Statement of the financial conlition of the Twin Falls National bank, made public Friday by R. H. Haase, receiver. reveals cash on hand the amount of $31,946.50 However, no statement is forthcoming as to when or in what amount a dividend might be paid. "It is impossible to say anything definite at this time,' Haase said Total amount of liabilities subthe statement reveals. Assets of the trust are listed as $574,014.67. representing the total amount coming into the hands of receiver. In this is included per cent stock assessment in the amount of $150,000. which was the capitalization of the bank when It closed its doors last November. Of this latter amount $10,375 has been paid. Remaining assets uncollected total $506,963.71. the difference between this figure plus the cash on hand. or an amount approximating $35,000. representing depreclated securities The report reveals that there are unsecured proven claims against the bank in the amount of $171,324.70 and $34,128.24 in unproven unsecured claims.

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Judgments Given Bank's Receiver

Judgments by default against two kholders in the Twin aalls National bank were entered in district court here Thursday by Judge W. A. Babcock, in favor of R. H. Haase. receiver. One requires J. A. Keefer, former cashier. to pay 100 per cent assessment on 100 shares of stock of a par value of $100. together with interest, attorney's fees and court costs, and note in the amount of $11.00 together with interest. costs and attorneys' fees. the total be ing Judgment in the other case was entered against N Keefer in the amount of $2016.34 assessment and interest on account of his ownership of 20 share of stock. Frank L Stephan is attorney for the receiver in the actions.

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Joseph and Keefer of Twin Falls Face Charges of False Reports

MOSCOW. Idaho The Joseph Keefer. president, and Keefer, cashier, of the closed Twin Falls, Idaho, National bank, charging false false and funds. The secret indictments accused the three counts: False books the bank. false reports to the comptroller of the and misapfunds the The period during which the leged were said December, the closing of the bank November 23, The two men will be arraigned the term federal court Pocatello next October, United States Attorney said, connected court would divulge further information about the charges.

CLOSED BY DIRECTORS

TWIN FALLS president and his nephew, Keefer, cashier the Twin Falls National bank, lished 1919 with capital stock, and closed Novemresolution of the board of directors." Deposits when the bank closed totaled from the tal September bank call. Assets the September call were listed Since early December, Raymond H. Haase has been charge the bank's affairs receiver. first cent dividend, totaling proximately $30,000. being tributed among the bank's itors, beginning May The indicated subsequent dends be paid.

In Other Corporations

Closing of the Twin Falls National ly million dollars deposits, by only days. number subsidiary corporations operated apparent connection with the Falls tional bank. Joseph Keefer president and Keefer, most these subsidiary corporations. The list included the Rogerson Hotel company, Twin now in the hands bankruptcy; Filer Livestock Jerome pany and Detweiler Mercantile company, Filer, all lately closed out under foreclosure

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GRAND JURY AT MOSCOW ACTIVE

(Continued From Page One) here this week for $16,000 against the Filer Livestock company on collateral notes for money advanced to the Twin Falls National bank Evidence introduced to show that a financial statement of the livestock company on which the federal reserve bank money to the Twin Falls National bank failed to list obligations aggregating some $17,000.

Raymond H. Haase has been in charge of the Twin Falls National bank as receiver since early last December. A first 12 per cent dividend totaling approximately $30,000 is being distributed among the bank's creditors and the receiver has indicated other dividends will be paid later.

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HAASE BANK RECEIVER

TWIN FALLS (P)-Raymond H. Haase, receiver in charge of the affairs of the Twin Falls National bank since November 28, has been designated receiver of the Citizens National bank at Salmon City, Idaho, which closed this week Books and records of the Twin Falls National bank will be turned over to G. D. Thompson, receiver

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WITNESS TELLS OF OVERDRAFTS PAID BY BANK

Receiver Testifies Against Officers of Defunct Institution gations that Joseph Keefer and J. Albert Keefer, president and cashier of the defunct Twin Falls National bank permitted overdrafts of several thousand dollars by companies in which they were interested were made in the first full session of the trial of the two in United States district court on charges brought by the federal They were charged in two indictments with making false reports to the comptroller, with making false entries in the bank ledger and with extending exceasive lines of credit through permitting overdrafts. A jury was completed early in the day after an adjournment was taken last night to permit gathering of a new panel. Hoyt E. Day, United States district attorney, placed three witnesses on the stand and com pleted his evidence bearing on the false entries in the ledger and false reports to the comptroller. G. D. Thompson, receiver of the bank, was the principal witness. Evidence consisted almost entirely In reviewing bank records presented by Thompson and by L. Patrick, former assistant cashier of the bank, which closed its doore last fall. During the afternoon session a dozen checks drawn on the bank by various companies in which be the Keefers were alleged to stock holders were introduced, each of them declared by Thompson to be overdrafts on accounts. To each Thompson replied that the Items were carried as "cash items" since they could not be charged against the depleted accounts of the companies issuing them. As cash items they were never repaid to the bank, he said. and thus were wholly losses. The checks included some at leged to have been issued by the Shoshone Livestock company and the Keefer department store in Twin Falls. one from the latter company being for $1.500. Day estimated the total amount involved in the charges was between 4,000 and $5,000. The case will recess this afternoon for trial of suit brought by the United Airlines to escape payment of the gasoline tax.

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SEEKS RECOVERY FROM BONDSMEN

Twin Falls National Bank Re. ceiver Sues to Collect Sum of $56,532

Recovery of $56,532.32 is sought by G. D. Thompson, receiver of the Twin Falls National bank, on the bond of A. Keefer. cashier of the institution. in * suit commenced in district court through John W Graham. Twin Falls and Hawley & Worthwine, Boise, attorneys. The defendant is the United States Fidelity and Guaranty company with whom the cashier was assertedly bonded. The complaint recites that checks in the amou it of $10,351.35 were cashed for the Keefer Department store, the Filer Livestock company the Shoshone Livestocl: company and the Jerome Livestock company, all reputedly controlled by Joseph Keefer, president of the bank and uncle of the cashier. Replacement of this sum is asked for from the bond company, together with $46.049 the alleged amount of loans made by the bank to these corporations.

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CHAPMANS NAMED BANK RECEIVERS

WASHINGTON, June 12 Appointment of the law firm of Chapman & Chapman, Twin Falls, Idaho, attorneys for the receivership of the Twin Falls National bank, and the First National bank of the same city, is nounced by O'Connor, comptroller of the currency. They will succeed Frank L. Stephan, attorney for the receiver of the Twin Falls National bank, and John Graham, attorney for the First National bank receivership.