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The state Banking Department closed the Nebraska State Savings Bank here last Tuesday noon. The Saunders County National Bank, operated in the same building with the same officers, was closed at the same time by order of the Board of Directors. Slow collections caused the banks to close their doors.
"None of the depositors in either bank will lose a penny," declared F. J. Kirchman, president of the two institutions. "There are adequate assets to take care of everybody.
"Steps are already under way to re-organize the National Bank. After the Banking Department had closed the Nebraska State Savings Bank, the Board of Directors voted voluntarily to close the National Bank."
Organized in 1882.
The state bank was organized by George W. E. Dorsey of Fremont in 1882, and the Saunders County National came into existence two years later. The banks have grown steadily, and were among the first small town banks in the state to have a million dollars in deposits.
F. J. Kirchman, president of the institutions, has been connected with these banks continuously for almost a half century. He came to Wahoo, December 15, 1884, and accepted an unimportant post in the bank. In 1893 he was appointed assistant cashier, and his rise was rapid thereafter. He was promoted to vice president in 1900 and to president in 1923.
Other officers of the bank are: W. H. Kirchman, cashier; F. J. Kirchman, jr., assistant cashier; Malcolm Anderson, assistant cashier; Charles T. Podhaisky, assistant to the president; Frank Podhaisky, Teller; Max Safranek, clerk; Arnold Kirchman, clerk; Roy Swanson, bookkeeper.
The last statement of the two banks showed combined deposits of $768,148.04, $273,646.32 credited to the Nebraska State Savings Bank and $494,501.72 to the Saunders County National. Total resources were $1,211,038.51.
Examiner R. H. Larson is in charge of the Savings Bank and Examiner F. S. Nelson is in charge of the National Bank.
In a statement issued today, State Bank Commissioner George Woods declared the failure of the two Wahoo banks precipitated the closing of the following affiliated banks in Saunders county:
State Bank of Touhy, whose officers are Jul Petermichel, president; F. J. Kirchman, vice president; W. H. Kirchman, vice president, and M. A. Kirchman, cashier, with deposits of $32,465.57.
Farmers and Merchants bank, Weston, whose officers are F. J. Kirchman, president, Jul Petermichel, vice president, Ferdinand Pacal, cashier, James Pavlik, assistant cashier, deposits $168,967.72.
State bank, of Colon, whose officers are F. J. Kirchman, president; F. J. Bastar, vice president; J. A. Sams, vice president; E. H. Henderson, cashier, deposits, $207,276.92.
Oak Creek Valley bank, Valparaiso, whose officers are F. J. Kirchman, president; Jul Petermichel, vice president; H. L. Mosgrove, cashier; J. V. Roh, assistant cashier, deposits $251,136.12.
Examiner Nelson of the National banking system is in charge of the Saunders County National bank, while the following state bank examiners have been placed in charge of the state banks: R. H. Larson, Nebraska State Savings, Wahoo; J. E. Hollingsworth, State Bank of Touhy; J. F. McLain, Farmers and Merchants at Weston; L. C. Sorensen, State Bank, of Colon; Virgil S. Lee, Oak Creek Valley Bank at Valparaiso.
While a run on the other banks in the city is not anticipated, the First National and Citizens State Banks have fortified themselves with large sums of cash to meet any demand that might be made.
One of the heaviest creditors of the Saunders County National Bank is Saunders County which had $25,000 on deposit. These funds are protected by surety bonds, however, in addition to the responsibility of the bank.
SILENCE IS GOLDEN
The local financial situation calls for an exercise of more than ordinary patience and forbearance until the banks have an opportunity to re-organize or recoup as best they can their shattered fortunes. It is going to profit no one, by reviling and charging officials with derelictions of duty. The situation is sufficiently grave without adding to the tension already existing. Let us be brave enough to refrain from hurtful comment for the time being, at least. There is no occasion for radical thought or action. It is unthinkable that Saunders county, one of the richest in Nebraska, cannot rise above the present temporary financial flurry and emerge stronger and safer than ever. We should take council one with the other and refrain from doing anything that might further injure the business of the community or the county. This is one of the occasions in life when silence is golden.
WILLS AND ESTATES
EVA KNOBE
The estate of Eva Knobe of Ashland, who died at Lincoln, March 28, has been filed for probate. Personal property is estimated at $4,200. The heirs are: Edwin P. Knobe, husband, Ashland; Gordie I. Knobe, son, Haxtum, Colo.; Marcus C. Knobe, son of Ashland; Stella Williams, daughter Greenwood; Catherine Lohr, daughter, Ashland; Grace Sutton, daughter, Waverly.
ANNA FRANSON
The will of Anna Franson, who died at Colon, March 27, has been filed in county court. The estate consists of approximately $28,000 in real estate and $11,000 in personal property. The heirs are: Victor E. Franson, son, of Colon; Elmer J. Franson, son, Colon; Edna M. C. Anderson, Colon, daughter. The latter is petitioner and the petition requests that Victor F. Franson and Elmer F. Franson execute the will. C. F. Galloway is the attorney.
JOSEPH CIZEK
The will of Joseph Cizek, who died at Prague, March 29, was filed this week. The heirs are: Katherine Cizek, widow; Thomas, Joseph and James Cizek, sons; Marie and Agnes Cizek, daughters. The petition, filed by Marie Cizek, asks that Catherine Cizek be appointed administratrix. Slama and Donato are the attorneys.
JIRI BARTEK
A petition for determination of Heirship has been filed in the estate of Jiri Bartek, who died Aug. 5, 1913. The petition alleges that more than 2 years have elapsed and no administrator has been appointed. The living heirs are: Joseph, John, George, Andrew, Sylvester and Julius Bartek, sons of the deceased and Kamilla Kash Veronika Zetochka, Emma H. Bartek, daughters. Joe F. Berggren is the attorney.
CHARGED WITH FORGERY
Rudolph Kracman, arrested at Malmo by Sheriff Mengel, was arraigned before Justice Lehr on a charge of forging a check for five dollars on R. C. Van Osten, farmer. Kracman pled guilty and was bound over to District Court. He is being held in the county jail pending sentence.
ELECTRICAL WIRING
Electrical wiring and repairing of all kinds by certified electricians. Anderson & Webster Electrical Co., Phone 171, Wahoo.
