Home Savings Bank (Davenport, IA)

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Receivers Take Over Three of Outlying

Receivers were in charge of the affairs of the Home Savings bank and Northwest Davenport Savings bank, Davenport, and the Bettendorf Savings bank in Bettendorf, result of the decisions made by officers and boards these institutions to liquidate. The action of the Home and Northwest banks was announced yesterday while the Bettendorf officers met yesterday afternoon and made their decision to close. All three of the banks were closed today and the receivers resenting the Iowa state banking department were placed in charge. The amount which the depositors will realize will not be known til the examiners complete their report. Carl Trout, deputy superintendent of banking, and Bruce send, charge of the distribution receiverships, were in Daventoday. Rodine was placed charge of the Home Savings bank while Joe Snover took over the

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SURETY DESIGNATED IN

RECEIVERSHIPS

Andrew Named ceiver for Five Financial Institutions Here.

Designation of bonds to be nished by the receiver and examincharge marked proceedings for the Union Savings Bank Trust company, the Home bank, the Northwest enport Savings bank, the Bettendorf Savings bank and the American Trust company in District Judge W. Scott's court late Wednesday. Andrew, state superintendof banking. appointed ceiver each Mr. drew in turn designate an aminer in charge each institution. of formal court letters will await the filing and approval the bonds. Bonds designated by the court in Union Savings Bank Trust examiner's bond, $200,000; Home Savings bank, receiver's bond, $10,examiner's bond, Northwest Davenport receiver's bond, examiner's bond, $75,000; Bettendorf Savings receiver's bond, $10,000, aminer's bond, American company, receiver's bond, examiner's bond,

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THE STOCKHOLDERS

Approximately 300 Share Owners in Northwest Savings Involved.

Instructions to bring suit against stockholders of the Northwest Dav enport Savings bank, which pended operation en Dec. 24 last, special levy for the today District Judge Harry Lynn, examiner in charge, the neys, John The tiled for the March term of There approximately individual stockholders, according the The bank capitalized at $100.Eggert, cashier of the bank, the largest individual stockholder. owning shares. Similar action will taken connection with the of the Home bank, the tendorf Savings and the Union Bank Trust pany. The the Home Savings bank was filed today, and the ings bank will filed ernoon Wednesday. attor the Union ings Bank Trust company ready for several contemplated until after inventory record. The conference today the court, the examiner Davenport bank, and the attorneys senting the receiver for marshaling the assets discussing plans for the work. matter examiner said, before they position determine available depositors, man woman bread wants him

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Inventory of Assets Liabilities of the Home Savings Bank Is Filed

ATTORNEY

James Johnston Resigns To Take State Job in Southern Illinois.

City Attorney James Johnston Moline resigned his position to become the referee in bankruptcy of southern Illinois. The coming made the United States court in Mr. Johnston succeeds Andrew Olson, appointed to the Illinois commerce commission Governor Horner recently. Mr. Johnston been city torney during Mayor John Huey regime. He also served similar capacity when Charles Skinner was inventory liabilities of the Home Savings bank, 1702 West Third street, which suspended business on Dec. last, filed in the district court day by Ray examiner in Jebens Butenschoen, charge, attorneys for the receiver. conference between the aminer, attorneys Judge to marshal the assets and Scott plans for bringing court actions lay collect the assessments scheduled for The examiner's report, of Jan. the date when the receiver sumed charge of the follows:

Bills Real estate mortgages bonds Bonds securities Overdrafts 1,020.21 10,690.97 Cash real estate 65,377.84 Other Bank building 10,000.00 Furniture fixtures 475.00 Other assets 4,000.00 City National Bank Trust Chicago Merchants Bank, Cedar Rapids 3,274.61 Union Savings Bank Trust 514.01 Co. Cash 14,150.66

Total

$1,259,936.68 surplus profits Deposit liability Bills payable Reconstruction Finance Corp. National Bank Trust Strohmeier Outstanding drafts

Total The bank capitalized 500 shares stock Chas. Pasche and Catherine the largest stockholders, former holding shares and later

Pleasant relation

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Attorneys for Receiver Instructed to Suit Against Northwest Davenport Group.

Instructions to bring suit against stockholders the Davenport Savings bank, which pended operations Dec. 24, for special assessment levy, the receiver conference suit will filed for March of court and directed 300 The bank captialized at Eggert, cashier, the largstated that similar action started against the Home Union banks Davenport and the Bettendorf bank. inventory of Home ings filed today expected Bettendorf Savings bank inventory would be ready afternoon The Home Savings bank had capital $50,000 shares stock. Charles Pasche the largest number shares, and Catherine Walsh shares. Assets fixed and liabilare the figure.

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Court

The Security State bank, of Kesuing Erdice in the district court for balance alleged owing promissory note.

Mildred Forbes, suing Phillips for damages for auto injuries lision Jan. last near Walker,

The Bettendorf Lumber Supsuing Charles Neal for alleged account. Smith Swift are the attorneys.

The Home Savings bank receiver has filed the district against Frank Emma collect $3,alleged mortgage.

The Seiffert Lumber pany suing and Mrs. Alf. Danielsen for $1,209.52 alleged due The company, suit, asks judgment against Fulton. son the attorney.

The Western Refining Oil company, thru its attorney, Sampson, has filed Davenport Oldsmobile Company, collect $314.11 alleged promissory note.

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Three Iowa Banks To Pay $179,490

DAVENPORT IA. (P)-Depositors of three closed banks in Davenport and Bettendorf will receive approximately $179,491. probably by Christmas Announcement was made Tuesday by examiners in charge for D. W. Bates, state superintendent of banking and receiver for the institutions, after approval in district court. These first payments from the three institutions which closed last December amount to 5 per cent in the case of the Northwest Davenport Savings and Home Savings banks and 10 per cent for the Bettendorf Savings bank.

Harvey Estate Pays $300 Tax. The estate of Isaac A. Harvey of Sioux City, Ia., paid $322.62 inheritance tax Tuesday The pay. ment to State Treasurer Leo J. Wegman was based on an estate taxable value of $20,610.76

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FORECLOSURES IN ARE COURT ACTIONS number suits for mortgages were filed on half of the receiverships for local banks in Scott county district court today. The Liquidation Corp. asks closure owned Mary and note for against and Mary for against Eugenia Veto Cuttone for against Joseph Nellie $3,310.04. that receiver be appointed the property each instance. were the filing attorneys for the Liquidation Corp. cases. The Union Savings bank receiv ership property of the Rebecca Rohlff estate note Glenn Kelly filing attorney. Home Savings bank start similar action against

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RECEIVER SAVINGS

Cash Received in First Months of Year 354, Summary Shows.

Cash collected the Home Savings bank receiver during the first three months of this year taled according the fifth quarterly report filed in Scott county district court by Jebens Butenschoen, attorneys, for the ceiver, Bates, and the examcharge, Roy Trout. The report, for the period ending March approved by Judge Scott. Cash collected during the period brought the total $124,113.18, while total disbursements for the three months of this year which included that amounted The balance cash hand March Cash collected on stock assessments during period total from $10,753.95 to

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REPORT DEPOSITORS SECURE CHECKS

Northwest, Home and tendorf Bank Starts Monday.

Approximately 6,650 depositors the closed Northwest Davenport, Home and Bettendorf ings banks will benefit from tial payment made those institutions beginning Monday, announced in Thurs day evening's Democrat. Dividend checks totaling $998, 103.28 distributed the three houses. The checks drawn the Bank Trust felt that the release this amount cash time have very beneficial effect on local business. The number depositors amounts to paid out each receivership office Northwest depositors. Home depositors. Bettendorf Savings to depositors.

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Bank Receiver Asks Mortgage Decrees In Two Note Cases

D. W. Bates, as receiver for the tockmen's Savings bank of Long rove and the Home Savings bank Davenport, filed petitions for al estate mortgage foreclosures two note cases late uesday in Scott county district urt. In one presented by Attorney Ifred C. Mueller, for the former ceivership, judgment of $7.32.50 was asked against Josenine and August DeCock, who had ledged Scott county farm land security the other. in which bens & Butenschoen the atrneys for the plaintiff, Julius and lara Jehring named as deindants in the of 478 claim. Appointment of reeivers for the properties were sked.

Although the total area of the hilippine Islands only about jual to that of Arizona, it emaces 7,083 isles.

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Reach Compromise On $21,943 Debts

The Home Savings bank receivership of Davenport has reached a compromise with C. E. Block by which he will satisfy mortgage debts of $21,943.81, according to a report filed in Scott county district court through the law firm of Jebens & Butenschoen. Judge W. R. Maines is expected to approve the plan unless there should be objections before next Thursday at 9 a. m.

By the terms of the agreement, Block will give deeds to two pieces of real estate in satisfaction of mortgages of $6,710.40 and $13,280.22, including interest. Another mortgage of $1,953.19 will be paid in cash.