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DOORS OF JAPANESE AMERICAN BANK CLOSED. Examiner Takes Charge at San Francisco and of Branch at Los Angeles. San Francisco, Oct. 18.-The Japanese American Bank with branches at Los Angeles and Ogden, was closed by the bank examiner today. The Los Angeles branch was also closed. It is said that the assets amount to only 15 per cent of the liabilities. A run by Japanese depositors almost depleted the Los Angeles branch of cash before it closed.
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SAN FRANCISCO JAPANESEAMERICAN BANK CLOSED San Francisco, Oct. 18.-The Japanese-American bank, one of the largest Japanese banks in the west, with branches in Los Angeles and Ogden, Utah, was closed today by State Banking Supt. Alden Anderson. The bank's assets amount to only about 15 per cent of its liabilities. Most of the depositors are Japanese and in Los Angeles they made such at. run on the bank that It was almost depleted of its cash before its doors were closed. Los Angeles, Oct. 18.-The JapaneseAmerican bank of this city, a branch of a San Francisco concern, and having deposits of about $200,000. was closed today by order of State Bank Supt. Anderson, Practically all of the depositors are Japanese. Their deposits amount from $1 upward. The cause for the closing has not been given out. but the trouble is believed to have been the natural consequence of the recent failures of Japanese banks in Oakland and Sacramento. Following those failures, there were large withdrawals by depositors from the local institution. On receipt of news of a run on the Los Angeles branch Superintendent Anderson ordered the immediate closing of both the San Francisco bank and its Los Angeles branch. The bank has a. branch in Ogden also and a telegram was sent to the governor of Utah by the California bank commissioners suggesting that this be closed.
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ANDERSON CLOSES 2 JAPANESE BANKS Main Institution in This City and Los Angeles Branch Show Deficiency Third Branch Located at Ogden, However, Remains Open for Business The Japanese-American bank located at Post and Buchanan streets in this city and the branch at 101 South San Los Angeles, were Pedro street, of Banks closed yesterday by Superintendent Alden Anderson on account of a. defiof cash and lack of proper sefor loans made. curity ciency The *bank and its branches have been under observation for some time and as they failed to make up the deficiencies in the time alloted by Anderson he decided yesterday to close them. OGDEN BRANCH NOTIFIED Besides the main bank in this city and a branch in Los Angeles a third branch is maintained at Ogden, Utah. The officers in control of the Ogden branch were notified of Anderson's action, but did not close that institution, of the from Ogden are as tion. it is Advices out California jurisdic- to the effect that the branch in that city will remain open until further advices are received from the head institution in this city. According to the last statement of the bank its deposits are more than $700,000, with nearly an equal amount of loans. The capital stock is $200,000. $159,425 being paid up. More than $75,000 is loaned on real estate in AlaSan meda, Monterey, Francisco, Riverside, Tulare, OrLos Angeles, Imperial, ange and San Luis Obispo counties. Among the other loans are Japanese government bonds, stocks of various corporations, which are not listed in the report and warehouse receipts. DEPOSITORS EXCITED The closing of the institution in this city caused considerable excitement among the many Japanese depositors. A big crowd filled the street in front of the bank and there was much discussion, but no demonstration. Pracall of the are Their run tically nese. deposits depositors in amounts Japafrom $1 up to considerable sums. In Los Angeles the same situation prevailed. Although the closing of the bank caused considerable excitement, no demonstrations were made. W. S. Vawter was placed in charge of the Los Angeles branch, while J. W. Harper is in charge of the main bank in this city. The directors of the bank are K. Uyeda, R. Kamikawa, K. Abiko, J. Kolke, M. Takekawa, M. Minabe and Y. Maeda.
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SACRAMENTO JAPANESE START RUN ON BANK Alden Anderson Compelled to Take Charge of Institution Another Japanese bank, the Nippon bank of Sacramento, was closed yesterday morning by Superintendent of Banks Alden Anderson. The condition of the Nippon bank was not such as would warrant closing, but early yesterday morning, on account of the closing of the Japanese-American bank in this city and Los Angeles Monday, a run was started by the anxious depositors, which soon grew to such large proportions that the officers telephoned to Anderson and asked him to take charge. "The Nippon bank was not in a bad condition," said Anderson yesterday. "It had considerable cash reserve, but no liquid assets with which to protect itself when the run started. It is possible that it will recover from the run and again place itself on a firm basis, but it will have to change the form of its assets to a large extent to be in a condition to withstand a run." The Japanese banks of this state, outside of the larger ones in which foreign capital is invested, have made a habit of loaning money to Japanese merchants with only the merchandise as a security. When business became dull the merchants closed shop and went to the country to pick fruit and the banks never realized on their notes. This has not been the case with all Japanese banks, but with the few that have been closed by the superintendent. Ogden Bank Closes OGDEN, Utah, Oct. 19.-The local Japanese-American bank is now in the hands of the state bank examiner. The closing of the institution this morning caused no little uneasiness and excitement among the Japanese depositors. The officers of the bank hurriedly met and discussed the situation, the result being that they asked permission of the state bank examiner to place the following notice upon the door: "This bank is temporarily closed. The same is due to the closing by the California state banking superintendent on October 18, 1909, of the main bank at San Francisco and the branch bank at Los Angeles." The local Japanese association desires it to be known that the closing of the local bank is not due to its insolvency, but because of the condition of the bank at San Francisco.
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TWO MORE JAPANESE BANKS CLOSE. Depositors Excited at Ogden-Sacramento Institution Acts Voluntarily. Ogden. Utah, Oct. 19.-The Ogden Japanese-American Bank was closed to-day bv the State Bank Examiner. At one time so large a crowd of depositors gathered at the bank entrance that a deputy sheriff was called to disperse them. Many of the Japanese did not understand the situation until the following notice was placed on the door: "This bank is temporarily closed. The same is due to the closing by the California State Banking Superintendent on October 18, 1909, of the main bank at San Francisco and the branch bank at Los Angeles." Sacramento, Cal., Oct. 19.-The Nippon Bank of Sacramento voluntarily closed its doors to-day and advised State Bank Commissioner Anderson of its suspension. This is the second Japanese bank in this city to close within a week.
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BANK HAS SMALL DEPOSITS No One Man Will Lose Much If the Japanese Institution Is Insolvent. (Special to The Herald-Republican.) Ogden, Oct. 22.-Receiver Brown is busily engaged checking up the business of the Japanese-American bank. He has ample assistance, but it will be a number
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RECEIVER OF JAPANESE BANK AT WORK ON BOOKS Special to The Tribune. OGDEN, Oct. 22.W. D. Brown. the receiver appointed by the district court yesterday to supersede State Bank Examiner Glazier in charge of the affairs of the Japanese-American bank of this city. is now at work on the books of the institution to ascertain what condition its finances are in. The local bank was closed upon advices received from San Francisco, where the parent institution was found to be defunct. Attorney Charles R. Hollingsworth. who represents the receiver of the local bank as well as a large number of the Japanese depositors. says that the failure of the California banks have been unfortunate for the local concern. While the revenues are at a low ebb, it is said that they are not more 80 than at any other time during this season of the year. Mr. Hollingsworth says that after the completion of the report of the receiver, and when the business of the local bank has been wound up. it is probable that the bank will be organized as an independent concern. Receiver Brown expects to complete his report in a few days.
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OGDEN, Dec. 31.-W. D. Brown, receiver of the Japanese-American bank, has filed a complaint In the district court against Alma D. Chambers, county treasurer, to have the tax assessment on the bank set aside. The county is trying to collect taxes in the sum of $680.57, which the receiver alleges are entirely out of reason in the case, and ho asks that the treasurer and his assistants be restrained from selling the property of the bank to collect the amount claimed on the tax records.
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FILES SUIT TO PREVENT COLLECTION OF TAXES (Special to The Herald-Republican.) Ogden, Dec. 30.-W. D. Brown, receiver of the Japanese-American bank of Ogden, filed suit in the district court today against Alma D. Chambers, treasurer of Weber county, asking that the latter be prevented from collecting $680.57 taxes on the bank property. The suit was brought at the order of the district court as a result of complications when the bankruptcy proceedings of the insolvent bank came up for hearing.
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TREASURER DEMURS. OGDEN, Jan. 21.-Alma D. Chambers, treasurer of Weber county, has filed a femurrer to the complaint recently brought by W. D. Brown, receiver of the Japanese-American bank, stating that the original complaint does not show sufficient evidence to warrant suit and that Brown failed to comply with the state laws relating to the relinquishment of taxes.
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Suit on Notes. Special to The Tribune. OGDEN, March 5.-W. D. Brown, the receiver of the Japanese-American bank, has begun actions in the district court to collect four promissory notes, made in favor of the bank by E. D. Hashimoto and S. Ichimura. The notes made by Hashimoto aggregate $275 and those due the defunct bank by Ichimura amount to $1100.
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SUIT ON NOTES. OGDEN, March 7.-An action to collect four promissory notes has been instituted in the district court by W. D. Brown, receiver of the defunct Japanese-Amerjcan bank, against E. D. Hashimoto and S. Ichimura, two prominent Japanese merchants. The notes made by Ichimura amount to $1.100, while those of Hashimoto are for $275.
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# COUNTY TREASURER # FILES AN ANSWER County Treasurer Alma D. Chambers yesterday filed an answer in the case of W. D. Brown, receiver for the defunct Japanese-American bank, which failed here sometime ago, in the complaint against him, alleging that the county assessment on the bank was far in excess of what it should be, and asked that the case be quashed. Mr. Chambers claims in answer to the complaint that while the assessment may have been too high, it was all the fault of the bank officials, as on several occasions the assessor's office had asked for a statement which had not been forthcoming, so that the assessment for last year was made up from that of the year previous.
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SUIT ON NOTES. OGDEN, April 19.-W. D. Brown, receiver of the Japanese-American bank,
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ECHO OF BANK FAILURE, (Special to The Herald-Republican.) Ogden, Aug. 24.-As an outgrowth of the bankruptcy of the JapaneseAmerican bank two years ago, suit of W. D. Brown, receiver for the bank, against the Continental Supply company commenced in the district court today. Brown is suing to recover on two promissory notes for $2,500, made out in favor of the bank before its failure. The complaints allege that but $1,000 has been paid on each note, and judgment for $1,500 on each note is being sought.
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BANK LOSES SUIT. (Special to The Herald-Republican.) Ogden, Aug. 25.-Holding that certificates of deposits held by the defendant company under assignment from individual depositors in the Japanese-American bank after it went bankrupt, the district court today decided the suits of W. D. Brown, receiver of the bank, against the Continental Supply company to recover on two promissory notes.
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Receiver Files Bond. Special to The Tribune. OGDEN. Jan. 5.-W. D. Brown. as receiver for the defunct Japanese-American bank. filed a bond for $5000 in the district court this afternoon to Insure the faithful performance of his dutles. The bank was placed In the hands of a receiver a year ago, when the parent institution at San Francisco went to the wall.