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LIEUT GOV. IS RECEIVER FOR PROSPER BANK 1119270 Receivers for four closed banks have been named by the banking board, O. E. Lofthus, state examiner, announced today. Those named are: Bank, of New Rockford-A. J. Nathan, of Bismarck. Scandinavian-American Bank of Fargo-L. C. Reed, of Fargo. Security State Bank of Columbus-Geo. Witty, of Columbus. Prosper State Bank of ProsperLieutenant-Governor Howard Wood.
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Receivers Are Named For Four Closed Banks Bismarck, N. D., March 10.-Receivers for four closed banks have been named by the banking board, O. E. Lofthus, state examiner. announced today. Those named are: Bank of New Rockford-A. J. Nathan of Bismarck. of Scandinavian-American Bank Fargo-L. C. Reed of Fargo. Security State Bank of ColumbusGeo. Witty of Columbus. Prosper State Bank of ProsperLieutenant-Governor Howard Wood.
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NEWS OF NORTH DAKOTA BRIEF ITEMS OF INTEREST FROM ALL PARTS state bank examiner. Auditor Pulls Gun. MINOT, N. D.-R. W. Frazer of L. C. Reep of Fargo, who has been in charge of the Scandinavian AmeriCrosby, clerk of the court for Divide can bank of Fargo since it closed county, was arrested in Minot last several weeks ago, has been named night on complaint of C. J. Clarke, as receiver for the institution by the Crosby banker. examiner, A. J. Nathan of Bismarck Clarke charged Frazer with carryhas been appointed receiver for the ing concealed weapons and assault. Bank of New Rockford of New RockFrazer pulled a gun on Clarke in ford, N. D., and George Witty of the offices adjoining the district court Columbus has been named receiver chambers durnig an argument, after for the Security State Bank of ColJudge Lowe had denied writ of haumbus, N. D. beas corpus for W. E. Vadnais. Vad-
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WOULD APPOINT RECEIVER FOR EACH DISTRICT Proposal Made To Divide State Into Eight Banking Districts Tentative division of the state into eight banking districts has been made by the State Banking Board, the basis of the change being the hope that it will be possible to appoint a receiver in each of the districts to take charge of the closed banks in the area. While some of the - present receivers are holding their positions through court action, an appeal will be taken to the supreme court immediately for a final review of the statutes involved, and in the meantime the banks without receivers, or the banks where the re coivers have resigned, have been grouped. The divisions are tentative only and may be changed as conditions warrant. O. L. Engen of the Fargo District was the first of the receivers to be appointed and he has taken over the control of most of the banks in his district. The proposed groupings, listed by the names of the towns in which banks have been or are closed follows: Grand Forks District Grand Forks, Milton, Bathgate, Mowbray, Crocus. Fargo District Fargo, Prosper, Hatton, Edgeley, Jud, Cogswell, Crete. New Rockford District New Rockford, "Brantford, Kalum, Courtenay. Bismarck District Crystal Springs. Braddock, Pingree, Robinson, Leith, Timmer, Hazen. Bowman District Bowman, Haynes, Rhame, Marmath, Amidon. New England District New England, Havelock, Regent, Belfield, Beach, Killdeer.
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ALL DISTRICT RECEIVERS ARE NOW APPOINTED C. H. Reimers of Carrington is Named Head of New Rockford District Appointment of district receivers under which many closed banks are to be handled by a very few receivers was completed by the state banking board with the appointment of C. H. Re.niers, of Carrington, as receiver for the New Rockford district. This district embraces the following closed banks: Security State of Courtenay, Security State of Brantford, Farmers State of Walum, Bank of New Rockford, Citizens State Bank of Pingree. /There are a few banks which the banking board has not been able to include in its consolidation effort, which was undertaken to reduce ex penses and to obtain more efficient supervision of closed banks, according to members of the board. because a few receivers refused to resign - and obtained confirmation of their appointments by the courts. No change of receivers was made in some cases because there is said to be excellent prospect of the banks reopening. L. C. Vorbayda, of Lawton, and O. Eide, of Devils Lake, have been named deputy state examiners. Eide will be stationed at Jamestown.
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Appointment Of Bank Receivers Completed Bismarck, N. D., Feb. ...Appointment of district receivers under which many closed banks are to be handled by a very few receivers was completed by the state banking board with the appointment of C. H. Reimers. of Carrington, as received for the New Rockford district. This districe embraces the following closed banks: Security State of Courtenay; Security State of Brantford; Farmers State of Walum; Bank of New Rockford; Citizens State bank of Pingree. There are a few banks which the banking board has not been able to include in its consolidation effort, which was undertaken to reduce expenses and to obtain more efficient supervision of closed banks, according to members of the board ,because a few receivers refused to resign and obtained confirmation of their appointment by the courts. No change of receivers was made in some cases because there is said to be excellent prospects of the banks reopening.
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SEXTON, BANKER, PLEADS GUILTY TO DEFALCATION Former President of Bank of New Rockford Admits Embezzlement Charged BANK IS NOW CLOSED Banker Sentenced to Serve Two Years in State Penitentiary By Coffey Jamestown, N. D., May 16.-Harry C. Sexton, fomerly president of the Bank of New Rockford, which closed its doors and went into the hands of a receiver, was sentenced to serve two years in the state penitentiary by Judge J. A. Coffey in district court. Sexton was brought here from New Rockford for sentence. The former bank president pleaded guilty to the embezzlement of $9,500 from the Bank of New Rockford. Sexton recently has been connected with a detective organization in Fargo. The charges were preferred by the states attorney at New Rockford, following examination of the closed bank by the receiver and other accountants, it is said.
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LEGAL NOTICES BANK ASSETS FOR SALE Sealed bids for the purchase of all the assets of the closed banks listed below will be received up to November 15, 1922: Farmers. State Bank, Greene, North Dakota. W. E. Burgett, receiver, Flaxton. Citizens' State Bank, Edgeley. North Dakota, O. L. Engen, receiver, Fargo. State Bank of Milton. Milton, North Dakota. John Vallely, receiver, Grand Forks. First State Bank, Crystal Springs, North Dakota. H. B. Hanson, receiver, Crystal Springs. Bank of New Rockford. New Rockford, North Dakota. C. H. Reimers, receiver, Carrington. Peoples' State Bank; Leith. North Dakota. C.F. Kellogs, receiver, Bismarck. Peoples State Bank, Grand Forks, North Dakota. John Vallely, receiver, Grand Forks. CrocumState Bank, Crocus, North Dakota. Fred F Walz, receiver, Egeland. Security State Bank, Courtenay, North Dakota. C. H. Reimers, receiver, Carrington. Prosper State Bank, Prosper. North Dakota. O. L. Engen, receiver, Fargo. Timmer State Bank, Timmer, North Dakota. C. F. Kelfogg, receiver, Bismarck. Williston State Bank, Williston, North Dakota. G. R. Van Sickle, receiver, Minot. Citizens' State Bank, Pingree, North Dakota. C. H. Reimers, receiver, Carrington. Citizens' State Bank, Hazen. North Dakota. C. F. Kellogs. receiver, Bismarck. Security State, Bank, Brantford, North Dakota. C. H. Reimers, receiver, Carrington. / Bank of Leal, Leal, North Dakota. C. I. Buslee, special deputy examiner, Leal.
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LEGAL NOTICE BANK ASSETS FOR SALE Sealed bids for the purchase of all the assets of the closed banks listed below will be received up to November 15, 1922: Farmers State Bank, Greene, North Dakota. W. E. Burgett, receiver, Flaxton. Citizens' State Bank, Edgeley. North Dakota. O. L. Engen, receiver, Fargo. State Bank of Milton. Milton, North Dakota. John Vallely, receiver, Grand Forks. First State Bank, Crystal Springs, North Dakota. H. B. Hanson, receiver, Crystal Springs. Bank of New Rockford. New Rockford, North Dakota. C. H. Reimers, receiver, Carrington. Peoples' State Bank, Leith. North Dakota. C. F. Kellogg. receiver. Bismarck. Peoples State Bank, Grand Forks, North Dakota. John Vallely, receiver, Grand Forks. Crocus State Bank, Crocus, North Dakota. Fred F. Walz, receiver. Egeland. Security State Bank, Courtenay, North Dakota. C. H. Reimers, receiver, Carrington. Prosper State Bank, Prosper. North Dakota. O. L. Engen. receiver, Fargo. Timmer State Bank, Timmer. North Dakota. C. F. Kellogg. receiver, Bismarck. Williston State Bank, Williston. North Dakota. G. R. Van Sickle, receiver, Minot. Citizens' State Bank, Pingree, North Dakota. C. H. Reimers, receiver, Carrington. Citizens' State Bank, Hazen. North Dakota. C. F. Kellogg, receiver, Bismarck. Security State Bank, Brantford, North Dakota. C. H. Reimers, receiver, Carrington. Bank of Leal. Leal, North Dakota. C. I. Buslee, special deputy examiner, Leal. Peoples' State Bank, Hatton, North Dakota. O. L. Engen, receiver, Fargo. Citizens' State Bank, Bathgate, North Dakota. John Vallely, receiver, Grand Forks. Sawyer State Bank, Sawyer, North Dakota. G. R. Van Sickle, receiver, Minot. Itemized lists of the assets are on file in the office of the state examiner at Bismarck, and with the receivers of the above banks. Bids should contain terms of payment and may include time certificates of deposit in going banks in the same community, all bids to be accompanied by certified check of one per cent of the amount of the bid. All bids should be addressed to Gilbert Semingson, state examiner, Bismarck, North Dakota, and the State Banking Board reserves the right to reject any and all bids. (Herald Oct. 26-27; Nov. 2-3.)
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RESTRAINING ORDER ISSUED Judge J. A. Coffey has issued a restraining order, returnable July 2, against the Guaranty Fund Commission to prevent it from disposing of notes and other collateral put up by the now defunct Bank of New Rockford with the First National bank of Minneapolis and which was purchased by the commission for $3,500. The suit was instituted by C. H. Reimers, receiver. The receiver and commission disputed the use to which the collateral was to be put. The commission bought the collateral to prevent a sacrifice under foreclosure, Reimers says the commission claims ownership of the collateral while it should be the bank's property.