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RUN CLOSES KANSAS BANK. Parsons, Kan., March 22—The Farmers National Bank of Parsons was closed today by a national bank examiner after a run that began yesterday. BANK FAILS IN WYOMING. Billings, Mont., March 22—Word was received here of the failure of the Powell National Bank, Powell, Wyo., to open its doors today. The bank is capitalized at $40,000.
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RUN CLOSES KANSAS BANK. Parsons, Kan., March 22—The Farmers National Bank of Parsons was closed today by a national bank examiner after a run that began yesterday. BANK FAILS IN WYOMING. Billings, Mont., March 22—Word was received here of the failure of the Powell National Bank, Powell, Wyo., to open its doors today. The bank is capitalized at $40,000.
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Kansas National Bank Closes Doors After Run Associated Press Report. PARSONS, Kan., March 22.—The Farmers National bank of this city was closed this afternoon by F. R. Peterson, national bank examiner, following a run on the bank that began yesterday morning. "It would have been futile to have remained open under the circumstances," Mr. Peterson said. The Farmers National bank was the youngest bank in this city and was capitalized at $100,000. W. F. Lay was president, and Paul Cornelius, cashier. A bulk of its stockholders and depositors were farmers. Its last financial statement in January it had deposits of $428,984.61. Its resources amounted to more than $711,485. The closing of the bank is the second National bank in Kansas to go to the wall in nine years, according to Mr. Peterson.
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BUILDING AND LOAN ASSN. IS NOT AFFECTED The failure of the Farmers National Bank last Saturday does not involve the Parsons Building and Loan Association in any manner, the two institutions being entirely separate. L. E. Roush, supervisor of building and loan associations under the state banking department said: "A recent examination of the Parsons Building and Loan associations discloses that it is in first class condition. Its deposits with the Farmers National Bank was very small and is amply protected by a surety bond approved by the state banking department. It is not affected in any way and no investor in the association need feel any uneasiness." Senator Paul H. Kimball, one of the organizers of the association and its president for several years, now counsel and director, M. F. Kohler, Sr., President and Max Dannenbaum, director stated: "The Parsons Building and Loan Association is involved in no way in the closing of the Farmers National Bank. It had only a small account with it and is guaranteed by a surety bond. The assets of the building and loan association, consisting principally of first real estate mortgages are in excellent shape, and not one cent has ever been lost since the organization of the association in 1912. We have no financial connection with the bank simply occupying office space in their banking room. There is no reason for any person with funds invested in the association to be alarmed in the least. Negotiations are under way for a new location, to be announced very shortly."
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Daugherty Aide Here Mum as to Purpose of Visit S. T. Brown of Washington, working out of the office of Attorney General Daugherty, has been at the office of C. C. Madison, United States district attorney, for several days. He declined to reveal the purpose of his visit. Closed Bank Receiver Named. PARSONS, KAS., March 25.—John H. Dykes of Kansas City has been appointed receiver of the Farmers' National bank here. The bank was closed Saturday after a run. Complete Luncheon, 85c; dancing. Pompeian Terrace, Baltimore.—Adv.
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DEPOSITORS STILL HAVE FAITH. Head of Defunct Bank Meets Encouragement, Not Criticism. PARSONS, KAS., March 24.—Encouragement instead of criticism was the attitude of depositors of the defunct Farmers National bank of this city today towards W. F. (Bill) Lay, president of the institution. Saturday a run on the bank when the reserve of the institution was low caused F. R. Peterson, national bank examiner, to close the bank. "If Bill Lay says everything is all right, I know the bank will pay out," a rural depositor said. A majority of the depositors expressed their opinion of the crash by telling the president it was no disgrace for the bank to fail when slow paper held by struggling farmers was the cause. The bank will be reorganized as quickly as possible, according to Mr. Lay.
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EXAMINER TAKES OVER BANK Rumors on Condition Caused Heavy Run by Depositors. PARSONS, Kan., March 25.—John Dykes, assistant national bank examiner, of Kansas City, receiver for the Farmers National bank which failed here last Saturday, Tuesday took charge of the bank. Dykes will have charge of reorganizing the bank which closed its doors after a heavy run by depositors. Rumors on the condition of the bank caused the run which caught the institution with heavy loans to farmers outstanding.
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National Bank at Parsons Is Closed Parsons, March 24.—The Farmers National bank of this city was closed this afternoon by F. R. Peterson, national bank examiner. The institution closed its doors at 2:40 o'clock this afternoon after a run on the bank that began yesterday morning.
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National Bank at Parsons Is Closed Parsons, March 24.—The Farmers National bank of this city was closed this afternoon by F. R. Peterson, national bank examiner. The institution closed its doors at 2:40 o'clock this afternoon after a run on the bank that began yesterday morning.
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The Farmers' National Bank of Parsons has been closed by F. H. Peterson, bank examiner. The institution closed its doors after a run on the bank by depositors. Mr. Peterson took over the institution pending instructions from the comptroller of currency.
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The Farmers' National Bank of Parsons has been closed by F. H. Peterson, bank examiner. The institution closed its doors after a run on the bank by depositors. Mr. Peterson took over the institution pending instructions from the comptroller of currency.
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The Farmers' National Bank of Parsons has been closed by F. H. Peterson, bank examiner. The institution closed its doors after a run on the bank by depositors. Mr. Peterson took over the institution pending instructions from the comptroller of currency.
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The Farmers' National Bank of Parsons has been closed by F. H. Peterson, bank examiner. The institution closed its doors after a run on the bank by depositors. Mr. Peterson took over the institution pending instructions from the comptroller of currency. Dunlap Hall, the new $125,000 dormitory of the College of Emporia, is complete and is being furnished. Formal dedication will be part of the annual commencement exercises, May 29.
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The Farmers' National Bank of Parsons has been closed by F. H. Peterson, bank examiner. The institution closed its doors after a run on the bank by depositors. Mr. Peterson took over the institution pending instructions from the comptroller of currency.
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The Farmers' National Bank of Parsons has been closed by F. H. Peterson, bank examiner. The institution closed its doors after a run on the bank by depositors. Mr. Peterson took over the institution pending instructions from the comptroller of currency.
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The Farmers' National Bank of Parsons has been closed by F. H. Peterson, bank examiner. The institution closed its doors after a run on the bank by depositors. Mr. Peterson took over the institution pending instructions from the comptroller of currency.
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The Farmers' National Bank of Parsons has been closed by F. H. Peterson, bank examiner. The institution closed its doors after a run on the bank by depositors. Mr. Peterson took over the institution pending instructions from the comptroller of currency.
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The Farmers' National Bank of Parsons has been closed by F. H. Peterson, bank examiner. The institution closed its doors after a run on the bank by depositors. Mr. Peterson took over the institution pending instructions from the comptroller of currency.
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The Farmers' National Bank of Parsons has been closed by F. H. Peterson, bank examiner. The institution closed its doors after a run on the bank by depositors. Mr. Peterson took over the institution pending instructions from the comptroller of currency.
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The Farmers' National Bank of Parsons has been closed by F. H. Peterson, bank examiner. The institution closed its doors after a run on the bank by depositors. Mr. Peterson took over the institution pending instructions from the comptroller of currency.
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OSWEGO, KAS., BANK CLOSES. Inability to Realize on Loans After Run Causes Failure. TOPEKA, April 18.—Inability to collect on loans caused the closing of the Oswego State Bank today, according to information received at the state bank commissioner's office here from Commissioner Carl J. Peterson at Wichita. The Oswego bank had $30,000 capital and an equal amount of surplus. Deposits amounted to $411,000 and loans aggregated about $519,000, it was stated. Fred Perkins is president, and J. W. Marley cashier. PARSONS, KAS., April 18.—Recently the Oswego State Bank, one of the oldest banking institutions in Labette County, survived a heavy run by depositors. To stop the run a mass meeting of citizens and depositors was held. The run started shortly after the Farmers' National Bank here was closed after a 3-day run. Rummage Sale at Swope Settlement. A rummage sale for persons in the neighborhood and those interested in the welfare of the Thomas H. Swope Settlement will be at the settlement house, 1608 Campbell street, Saturday, April 26. The women's auxiliary will be in charge. Persons having clothing or articles to give are asked to deliver them at the settlement, or call Mrs. Frank A. Baker at Westport 1208.
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PEDDLED RUMORS ON BANK, ARRESTED John Grant of Chetopa—Accused of Circulating Untrue Reports. Parsons, Kan., April 24.— John Grant of Chetopa, Kan., was free on bond today following his arrest last night on a charge of circulating a rumor against a sound bank. Grant was arrested when officials of the Chetopa State Bank complained Grant was circulating untrue reports of their institution because of a personal dislike for the bank. The Chetopa State Bank is one of the oldest and strongest banks in southeastern Kansas. The Farmers National Bank of this city closed its doors a few weeks ago after a heavy run on its resources and the Oswego State Bank of that city went to the wall last week after a vain effort to recover from a run.
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FARMERS BANK WILL Stockholders' Agent To Be Elected John receiver of the Farmers National Bank announced that the checks have gone ward Washington for signature account of the fourth and final dividend the defunct institution representing six percent terest to the depositors on their money credtiors have been paid hundred cents on the dolone on all their claims. This interest will to payment total about takes about two weeks get the checks back from Washington the money not be available for depositors here until about March 1st. will be announced columns of the Sun when the checks arrive. Closed 1924. The Bank closed its doors March 22nd. and the paying off of all the creditors 106 cents the dollar is best record made the Tenth Federal Reserve "So far able to determine the record ever made by failed tional bank in Massachusetts which few ago percent on the dollar After all creditors out of solvent National Bank paid full interest and all litigation has terminated the eral statues "provide that the Comptroller of the shall meeting the Stockholders publication local paper for days, which time the stockholders meet and elect stockholder's agent whom the receiver turns over the remaining assets to be further lected the agent for the benefit the stockholders who have paid their assessment. Probable Agents. Only those stockholders who have paid their assessment vote for the stockholder's agent, majority being necessary for election. The agent after posting an surety affairs of the Trust under the supervision the United States District court. Rumors all ready current whom this agent will Parsons all ready mentioned are Olive Baker Carl Rice. Taylor, and Heretofore the Comptroller Currency has been very luctant allow receivers of tional Banks 40 give out any formation whatsoever the condition of This policy has just been reversed by the department Washington and all National Bank Receivers are instructed to post copy their Quarterly report the window the Bank and make the available the newspapers. The last Quarterly report for ending December 1925. and the statement of conditions Just Imade available by Receiver Dykes, of the Farmers National Bank follows: Assets Bills Receivable Cash on hand 7,289.06 Assets other than Bills Receivable and cash hand 58,859.07 Additional Assets acquired Stock Assessment Interest Collected 31,144.06 Total all Assets coming into the hands the Rec. Uncollected Assets. Bills Receivable Assets than bills Receivable Additional Assets Acquired Stock Assessment 4,850.00 Total Assets lected Liabilities Total claims proven on unsecured liabilities Total unproven unseclaims 597.19 Total secured liabiloutstanding unpaid Total Rediscounts paid None. Total payable paid None. Total Additional Liabilities Proven 9,750.57 of Liabilities Dividends paid during quarter Dividends paid prior thereto Total Dividends paid date Cash hand above statement is correct. Signed JOHN Receiver. WINS OPENER NEW Feb. Jean Borotra of France. ing champion. won his opening round match in the national door tennis courts the Seventh Regiment armory today. defeating Manfred Goldman of New He lost one game when temporarily control of service and served
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THE DEFUNCT BANK John H. Dykes. receiver of the Farmers National bank, closed the bank's offices today at o'clock. This terminates his services with the defunct institution paid off all depositors 106 per cent and he has sufficient cash on hand out of the remaining assets to pay back the Stockholders about per share rebate the 100 per cent of levied by the comptrol ler of the currency Of this sessment Mr. Dykes collected about with which he able. with the collections from the assets, to pay the bank out in full. W. H. MacLaren has been elected agent for the shareholders to whom Mr. Dykes will turn over the remaining assets and Mr MacLaten will attempt further collections for the benefit of the stock holders. MacLaren intends to maintain regular office day Parsons least once week in some office at one of the hotels. his rangements meet debtors will be made later. Until recently the comptroller of the currency was reluetant to out or allow national bank receivers to out any information their trusts. This policy was reversed about two months ago and all receivers now instructed to post the window of the bank copy of their quarterly statement to the comptroller and make the same available to the newspapers, and Mr. Dykes's statement is given here. Statement of condition of the Farmers National Bank of Par(Continued on page eight)