First National Bank - Alliance, NE

1. August 29, 1930 The Poultney Journal Poultney, VT

Article from The Poultney Journal, August 29, 1930

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First National Bank Closes Doors Saturday (Continued from page One) paign against the bank resulted in tre withdrawal of about $1,575,000.00 leaving a balance on hand of about $1,535,000.00. The drastir run on the bank started about the first of October' 1931, when the bank had on deposit $2,114,000.00 which amount was sapped away at the rate of $20,000 a day for the last thirty days. The strength of the institution is shown by the length of time it was able to stand this unprecedented run, but the directors finally deemed It advisable to close the doors to protect the balance of deposits. Eugene Ford of Chicago, former owner of the controlling interest in the First National, hastened to Alliance and spent two days the first of the week with Mr. Abegg. Mr. Ford is still a stockholder in the bank and interested in its affairs. He promised all the assistance possible in the reorganisation of the Institution if such a plan could be evolved. Mr. Ford is connected with several large enterprises in Chicago at this time. Outstanding loans totaling over half million dollars are secured by livestock, and land mortgages, forced collection of which in the month's period would have ruined more than half the people in this city's surrounding territory, Low prices of livetock and farm products have placed the people in such condition that the bank's insistence upon payment at this time would have wiped out ranchmen and dealt this section of the country a terrific financial blow. Depositors are in sympathy with the action of the bank officials and stand ready to back the reorganipation and reopening of the bank. Large depositers and stockholders, with few exceptions, are willing to agree to leave their money on deposit or a year if the bank is reopened. Officers made a frantic effort to keep the bank open up until the last day of business. Frank Abegg, president of the institucion, worked 15 to 18 hours daily in an effort to weather the storm of withdrawal. but lost the fight as the load increased. The bank owns considerable property which will be listed among the assets in addition to the bills receivable. Notes totaling about $274,000.00 have been charged off and paid out of the bank earnings, in place of diviends, and many of these are collectable. There is also 3,615 jacres of Marm land in this county. clear of insumbrance, nine lots, four residences, one Box Butte avenue businsss propcity, and the banking house which is

2. December 12, 1930 The Roanoke Times Roanoke, VA

Article from The Roanoke Times, December 12, 1930

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CONVENTION IN ALLIANCE 1932 This City Was Chosen For Next Convention of District Teachers Alliance will entertain the teachers of the sixth district at their annual convention in 1932. This city was chosen as the next meeting place at the convention held at Sidney last week. Scotts.bluff and Chairon also put in strong bids for the convention. Alliance received 485 votes over Scotts bluffs 338. A different method of selection was used this year and teachers were given ballots upon registration and these completed Thursday. In previous years were counted when registration was the vote has been taken by acclamation. Over 1,200 teachers registered for the three-day convention at Sidney It is estimated there are nearly 1,700 teachers in the sixth district, some of them attneded similar meetings held in Lincoln and Omaha and other convention cities. The last time this city was host to the school teachers was in 1929. Secretary of the Chamber of Commerce. W. E. Spencer, sent out special invitations to the teachers so that they might know of Alliance when they placed their ballot upon registration. The meeting last year was held at Scottsbluff. N. L. Tyson, of Minatare, presided over the sessions as president of the district. Mrs. Viola Shepherd of Bridgeport was elected president of the organization for the coming year. She is county superintendent of Morrill county and won by a large majority over Tho. A. Frye of Hyannis. Educational addresses and instructions on modern methods of teaching took up the session held in the mornings and afternoons of the convention. Sidney put on many varied entertainments for the teachers and a football game was scheduled for their benefit. Among the speakers at the convention were: E. W. Butterfied, commissioner of education, Connecticut: Mabel A. Bessey, Bay Ridge high school, Brooklyn, N. Y.: Henry F. Schulte. University of Nebraska, coach; Harry L. Gogleman: J. G. McMasters, principal of Omaha Central high school: Hattle Moore Mitchell, Pittsburgh, Pa. Alliance teachers reurned to this cl ty Friday and Saturday. Several at-tended conventions over the eastern part of the state and returned last week-end. This city is centrally located in the sixth district and is a favorite Convention city for the teachers. carried at $15,000, but which is estimated to be worth around $40,000. Equipment purchased recently at a cost of $8.700 is not listed no the asset statement. The extent of damage caused by the whispering campaign directed against the First National Bank cannot be realized at this time. Alliance and its vicinity is just recovering from the immediate shock of the closing of this well founded establishment, but the greatest damage is to come In the form of decreased trade and lack of available funds to properly carry on the business of merchants and ranchmen alike. Investigation as 'to the identity of those starting and perpetrating the idle rumor against the banking institution is being made and its is expected that some action will be taken as such an act is deemed a felony in this state and punishable as such under the statutes of Nebraska. Definite announcement as to the procedure to be taken by the bank officials is expected by the end of this week. Mr. Ategg and Mr. Newberry returned to Alliance this morning from Denver and will meet with the remaindr of directors concerning the course to be pursued.

3. December 12, 1930 The Roanoke Times Roanoke, VA

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First National Bank Closes Doors Saturday (Continued from page One) paign against the bank resulted in tre withdrawal of about $1,575,000.00 leaving a balance on hand of about $1,535,000.00. The drastir run on the bank started about the first of October' 1931, when the bank had on deposit $2,114,000.00 which amount was sapped away at the rate of $20,000 a day for the last thirty days. The strength of the institution is shown by the length of time it was able to stand this unprecedented run, but the directors finally deemed It advisable to close the doors to protect the balance of deposits. Eugene Ford of Chicago, former owner of the controlling interest in the First National, hastened to Alliance and spent two days the first of the week with Mr. Abegg. Mr. Ford is still a stockholder in the bank and interested in its affairs. He promised all the assistance possible in the reorganisation of the Institution if such a plan could be evolved. Mr. Ford is connected with several large enterprises in Chicago at this time. Outstanding loans totaling over half million dollars are secured by livestock, and land mortgages, forced collection of which in the month's period would have ruined more than half the people in this city's surrounding territory, Low prices of livetock and farm products have placed the people in such condition that the bank's insistence upon payment at this time would have wiped out ranchmen and dealt this section of the country a terrific financial blow. Depositors are in sympathy with the action of the bank officials and stand ready to back the reorganipation and reopening of the bank. Large depositers and stockholders, with few exceptions, are willing to agree to leave their money on deposit or a year if the bank is reopened. Officers made a frantic effort to keep the bank open up until the last day of business. Frank Abegg, president of the institucion, worked 15 to 18 hours daily in an effort to weather the storm of withdrawal. but lost the fight as the load increased. The bank owns considerable property which will be listed among the assets in addition to the bills receivable. Notes totaling about $274,000.00 have been charged off and paid out of the bank earnings, in place of diviends, and many of these are collectable. There is also 3,615 jacres of Marm land in this county. clear of insumbrance, nine lots, four residences, one Box Butte avenue businsss propcity, and the banking house which is

4. December 19, 1930 Bristol Herald Bristol, VT

Article from Bristol Herald, December 19, 1930

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Run On Was Thirty The First National Bank city closed its doors at noon Saturday records of the banking tion were taken over by Rafter, national bank Cheyenne. Closing of bank order of the board of directors and the cause given as depleted funds due continued ing million and half dollars the past ten months. An unfounded "whispering campaign" against the bank, and largest bank in the western part this state, caused on stitution which amounted about withdrawals the last thirty days. Officers of the bank clare that it not insolvent but that necessary to close the continuous Frank Abegg president of the closed bank, and Newberry, one of its directors, made trip to Denver yesterday in the Interests of the bank. Depositors are optimistic over the prospects of the bank officials reorganizIng and reopening for business. There large amount of bank on hand and tabulation of these is now being made by Mr. Rafter, examiner, assisted by Mr. Hout, also of Cheyenne. Depositors in the First National include some of the largest business houses Alliance as well the large cattle ranchers in the ing territory. They have banded together in the Interest of the organization and stand ready to back any move which might enable the bank reorganize and again serve the public, Steps this direction cannot pleted his report on the condition the bank and receiver has been placed in charge. This is expected be done by the last of this week when some definite announcement will be made by bank officials. The First National Bank was established in this city 1889 and had weathered many financial storms. It was strong institution at the first this year when financial statement showed deposits $3,110,000.00. From that date until the time of the whispering cam-

5. November 6, 1931 The Alliance Times-Herald Alliance, NE

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of the Community Just the miasma of the financial depression was lifting lost the beacon that lighting the way. For years the First National Bank was the Rock of Gibraltar that guided business enterprise in many the city and on the ranches and farms through the shoals of adversity onto the solid foundation of suc- Credit pools were being established, livestock and prices going optimism dispelling the fogs of pessimism the path beginning to clear. But fear engendered by "whispers" like rushing torrent of angry water that swept its way through community and left minus oldest and largest bank. It's more than financial calamity. It's tragedy. there any reason for the closed the bank, then nobody could raise voice in fense. the officials been guilty of any illegal had they been wasting their reserves, their cash, could honestly complain. But they had When the ten months ago the bank the very heyday its long and month ago and cool analysis institution's affairs could have Even in face of their shattered dreams, officers the bank trying, night and day, to pick up the pieces and shape them together effort to reorganize and reopen the bank. But will they succeed? Confidence has been shaken by rumors and fidence bank's most valuable A little boy once stuck his thumb in small hole dyke and during the dark hours the night he stuck with his task and saved Holland. His deed will be membered long civilization lasts. But had he run from scene and yelled, are his country and his people would have been swept away. If in charge of the First National pick the pieces that of fear destroyed, the turning will bring greater to this than the past five the to that lies the hope Alliance every individual who with- city has been developed, farms, ranches, dairies, business places have grown because the inspiration the aid tendered by the First bank. Thousands prosperous trace their directly this old and honorable institution, and this was thoughtlessly away in short space time because fear permitted to the saddle. If surmount this no power on earth can keep from our place the The will concerned. New hope spring in up the years of unselfish devoted building from way-station prosperous city of will not have been in

6. January 14, 1932 The Lincoln Star Lincoln, NE

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Alliance Expects New National Bank (Special to The Star.) ALLIANCE, Neb., Jan. 14—W. H. Donahue and W. Robinson, of Kansas City, national bank examiners, have completed a two weeks' examination of records of the defunct First National bank here, made following a request for a charter and new bank organization. Outcome of the report will be received from the chief examiner at Kansas City. A ruling on the request for a new charter is expected within the next two weeks, and it is believed the bank will reopen about March 1.

7. January 14, 1932 The Stockman's Journal Omaha, NE

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Hope for Reopening of Alliance First National Alliance, Neb., Jan. 14 Hope the National March was today following H. Donaand W. Robinsor Kansas City examination of records the failed was made follow ing of new and new bank expected the outcome of the report and decision in the granting new charter from Kansas City with in the next weeks.

8. March 9, 1932 The Bushnell Record Bushnell, NE

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May Open Bank Soon Reorganization of the First National bank of Alliance, which closed last fall, was practically assured Thursday in a report from an Alliance delegation which returned home after presenting petition to the chief national bank examiner at Kansas City. Another examiner is being sent to Alliance to make a further survey before definite announcement is made -Ex.

9. March 10, 1932 The Broadwater News Broadwater, NE

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MAY OPEN BANK SOON Reorganization of the First Naonal Bank of Alliance which closed st fall. was practically assured Thursday in a report from an Alliince delegation which returned home after presenting petition to the chief national bank examiner at Kansas "i'y. Another examiner is being nt to Alliance to make a further rvey before definite announcement

10. March 10, 1932 Bridgeport News-Blade Bridgeport, NE

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Up and Down The Valley Tough Rules An interpretation of the Wyoming laws on auto license tags indicates that it is a felony to use old tags after March 1, and upon conviction of same motorist may be sent to the penitentiary. -Scottsbluff Pioneer. Receiving DividendDepositors of the defunct Irrigator's State Bank, of this city, are receiving dividend payments on their deposits at the American State bank building this week. Payments are for four per cent of the total on deposit at the bank at the time it was closed. The payment this week, according to A. E. Torgeson, receiver, totals 61 per cent. A total of $12,009.92 will be made at this time, it is announced. Certifieates of indebtedness must be presented to Mr. Torgeson at the bank building before payments can be made.-Scottsbluff Republican. Early Settler DiesAllen Bruce McCoskey, early day and much respected citizen of Scottsbluff, passed away at his home early Wednesday morning Mr. McCoskey had been ill for only a few days, suffering from influenza, which it is said, caused his death. Funeral services were conducted this afternoon at two o'clock from the Presbyterian church, of which he had been a member for many years. The Rev. E. C. Raue was in charge of the services, Masonic honors being conferred at Fairview cemetery, where interment was made. -Scottsbluff Republican. Geese Coming BackSeveral flocks of wild geese are reported to have been seen feeding in this vicinity in the last few days, having been enticed northward again by the balmy weather. An unusual sight was witnessed in town Monday morning. when four geese, attracted by the calls of Glenn Haiston's and Alfred Hartman's flock of decoys, made many circles above the pens with wings set for a landing, but their cautious instinct finally took them away to a less populous neighborhood-Broadwate News. In Bank's InterestBond. receiver of the First National bank, R. O. Reddish, Frank Abegg and Ben J. Sallows left at noon today for Kansas City, Mo., where they will appear before the chief examiner representing the comptroller of the currency in the interests of the reopening of the First National bank. They will present a revised statement of the bank's assets made from a careful survey the bills receivable and they believe that they will be accorded satisfactory hearing. Petitions signed by several thousand people in Alliance and its trade territory, both customers of the old bank and those who were not, were taken by the committee and will be presented to the examiner as vidnee of the gneral Interest taken in the plans to reopen the Alliance Herald. Rifle Artists— Piling up score of 2,326 while Gering was unable to get over 2,166, the Kimball rifle artists continued a string victories by trimming the local delegation in a match here Sunday. T. C.McSpadden was high man for the locals, while Paul Shafto and C. F. Reid were the sharpshooters for the visiting team. Gering goes to Kimball March 13 for a return match with Kimball. Shoots are being held at Gering range every Friday evening and on Sunday mornings with good attendances. -Gering Courier. New StationConstruction work on the new service station for the Western Nebraska Oil Co. was started last week and the station proper is taking form this week. Preparations are now being made for the concrete work in front of the station. Fight in Limbo— Gregorie Trego, Mexican, who is serving a one to ten years sentence n the state penitentiary for stabbing here several years ago, suffered skull fracture when he became involved in an argument

11. April 21, 1932 Bridgeport News-Blade Bridgeport, NE

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Nebraska National Organization Work Goes Forward Fast The opening of the Nebraska National bank replace the First National which closed its doors some time ago possible within short time depositors the bank terms which have been approved the comptroller of the eurrency and banking department. Depositors are asked assign most prominent men the liance territory are the board

12. April 21, 1932 The Scottsbluff Pioneer Scottsbluff, NE

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Plans Completed for Opening of Alliance Nebraska Nat'l. Bank The opening of the Nebraska National bank is possible within three weeks, to succeed the defunct First National bank in Alliance, if the depositors in the First National agree to the plan laid out by the comptroller of currency and accepted by the banking department and stockholders. Briefly, the plan is: The new bank guarantees the payment of 50 percent of every assigned deposit. The remaining 50 percent of the total deposit will remain in separate fund supervised by national bank receiver and will remain the sole property of the depositors. This percent totals $680,000, and the face value of all the assets remaining in the hands of the receiver from which this amount can be paid total $1,100,000. It is believed that by this method the confidence of the community will be restored and each depositor will be better off than would be possible the entire assets were liquidated without any guarantee except as to collections made by the receiver.

13. June 1, 1932 Fremont Tribune Fremont, NE

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BANK AT ALLIANCE IS GIVEN CHARTER June Application charter for organized Nebraska National bank here. been approved by the comptroller the currency Washington, according to word celved today from Congressman Robert The bank will replace the failed First National Bank Alliance. closed during last October. of Florence. Colo., the new president the bank. The financial will opened in about two weeks.

14. June 1, 1932 Kearney Hub Kearney, NE

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TO CHARTER BANK. tion for charter for the newly organized National bank here, has been approved by comptroller the Washington to word ceived today from Congressman Robert bank will re: place the failed First National bank of Alliance which closed during last October. Rose Flor. ence, Colo. is the president of the bank The stitution will be opened in about two

15. June 10, 1932 The Alliance Times-Herald Alliance, NE

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Notice of Sheriff's Sale Notice is hereby given that by virtue of an order of sale issued by the Clerk of the District Court of the Sixteenth Judicial District of Nebraska, within and for Box Butte County, Nebraska, in an action wherein Atlas Lumber Company, a corporation, is plaintiff, and Joe Corey, Rajamohanna Corey, his wife, Clyde Elder, Ludwig I. Glarum, Newberry's Hardware Company, a corporation, John Doe, real name unknown (Ivor Meeker), Ben C. Bond, as Receiver of The First National Bank of Alliance, a corporation (substituted for The First National Bank of Alliance, Nebraska, a corporation), John H. Kane and Charles W. Rathburn are defendants, I shall at ten o'clock A. M. on the 6th day of July, 1932, at the west front door of the courthouse in the City of Alliance, Box Butte County, Nebraska, offer for sale at public auction the following described lands and tenements, to-wit: Lot Twelve (12), Block Twenty (20), Original Town of Hemingford, in Box Butte County, Nebraska, according to the recorded amended plat thereof. Dated at Alliance, Nebraska, June 3, 1932. GEORGE P. JONES, Sheriff. BOYD & METZ, Attorneys. 6-3-7-5

16. July 18, 1932 The Grand Island Herald Grand Island, NE

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Bank Receiver of Alliance Transferred ALLIANCE, Neb., July 15 (U.P.) -Ben C. Bond, receiver for the defunct First National bank of Alliance during the past eight months, is to be transferred to Chillicothe, O., it has been learned here. The transfer was ordered by the comptroller of currency at Washington, D. C. Work for the receiver here, it was explained, was greatly Teduced through the recent transfer

17. July 18, 1932 The Stockman's Journal Omaha, NE

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Alliance Bank Receiver Is Transferred to Ohio Alliance, Neb., July 18.—(UP)—Ben C. Bond, receiver for the defunct First National bank of Alliance during the past eight months, is to be transferred to Chillicothe, O., it has been learned here. The transfer was ordered by the comptroller of currency at Washington, D. C. Work of the receiver here, it was explained, was greatly reduced through the recent transfer of 50 per cents of the assets of the failed bank to the newly organized Nebraska National bank.

18. July 21, 1933 The Lincoln Star Lincoln, NE

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APPOINTING NEW BANK RECEIVERS Mullen's Cause Shakeup In Employes. general shake-up in receivers of Nebraska's national banks ported under today Arthur Mullen Omaha, Nebraska's democratic for the First National Bank Alliance First Union National bank Fremont have been removed. Mullen said and Edgar Howard had removal of the for the First National at to the way ceivers banks since last March,' Mullen said. Some been on partisan basis. Our assure fair handling of trusts Edgar Marlo of Hemingford was Alliance, Torgeson. Becher of Columbus was appointed Fremont replace George Austin. Harry Hundley of has to Love Craig. No change Craig but Mitchell Gantz will replace Boyd and Metz and Mapes the present attorneys at Mullen said he was informed the changes conference with Comptroller of the Currency O'ConMullen predicted more revisions in the near future.

19. July 27, 1933 The Alliance News Alliance, NE

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Announce Change of Bank Receivers for First Nat'l. Coming as one of the first political in the national banking sys tem, the changing of receivers for the First National Pank of Alliance WAS announced at Washington this week. Arthur E. Torgeson of Scottsbluff has by E. Marlowe, at torney of Hemingford. as receiver of the bank here. The announcement came from Washington with statement by Arthur Mullen, Nebraska's demeratic national committeeman, freely stated that other shake-ups might be erpected in the banking ceiverships. Attorneys Mitchell & Gantz of this city, prominent Democrats. have been appointed as attorneys for the receiver ship in the stend of Boyd Metz, who have been acting under the administration. The change in the ceivership and the attorneys came after conference with Comptroller of the Currency O'Connor. It was also stated that change has been made in the receivership for the First National Bank at Craig and for the receiver of the First Union Na. tional bank of Fremont. These changes were anniunced at the same time the change for Alliance was Mr. Marlowe will assume his immediately.

20. July 27, 1933 Madison Star-Mail Madison, NE

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General Shake-Up In Bank Receivers With a few changes already made in Nebraska's national bank receivers, a general shake-up is predicted by Arthur F. Mullen, democratic national committeeman. Receivers for the First National Bank of Alliance and the First Union National Bank of Fremont have been removed. Mullen said he and Congressman Edgar Howard of Columbus had recommended the removal of the receiver for the First National Bank at Craig. Commenting on the action, Mullen said, "I have objected to the way receivers were administering these banks since last March. Some have been operating on a partisan basis. Our aim is to assure fair and competent handling of trusts and other matters."

First National Bank (Alliance, NE)

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Bank runs are almost always and everywhere a deterioration of bank fundamentals.

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