733301499 73330
national
06ad5d1cdacffc8bBorrowed from banks or large institutions, Capital injected, Partial suspension, Full suspension, Books examined
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DODGE BANK IS CLOSED Rumors in Circulation Causes Run and Closing of First National Follows. DODGE, Neb., Nov. 21.—A run on the bank caused by rumors in circulation forced the closing of the doors of the First National bank at Dodge this morning. Plans are being made for either reorganization or the founding of a new bank, E. J. Burgemeyer, vice president
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DODGE BANK IS CLOSED Rumors in Circulation Causes Run and Closing of First National Follows. DODGE, Neb., Nov. 21.—A run on the bank caused by rumors in circulation forced the closing of the doors of the First National bank at Dodge this morning. Plans are being made for either reorganization or the founding of a new bank. E. J. Burgemeyer, vice president
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stated today, so there will in all probability be no loss to depositors Mr Burgemeyer stated that the bank was in good shape prior to the closing but that the withdrawals in the past few days had been more rapid than money could be obtained and the closing resulted. The First National of Dodge, founded in 1903, is capitalized at $50,000 and has a surplus of $25,000 and undivided profits of $10,000.
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'RUN' CLOSES BANK First National of Dodge, Neb., May Be Reorganized. Dodge, Neb., Nov. 22.—A run on the bank, caused by rumors, forced the closing of the First National bank here Friday. Plans are being made for either reorganization or the founding of a new bank, E. J. Burgemeyer, vice president, said, so there will probably be no loss to depositors. Burgemeyer said the bank was in good shape prior to the closing, but that withdrawals had been more rapid than money could be obtained, and the closing resulted. The bank, founded in 1903, is capitalized at $50,000 and has a surplus of $25,000 and undivided profits of $10,000.
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FIRST NATIONAL BANK OF DODGE CLOSES Expected to Soon Re-Open Under New Charter and Management Wholly unexpected to produce awe and great excitement were the news flashed about town on Friday morning that the First National Bank of Dodge had ceased operations and had been closed up by order of the board of directors as per notice on the door signed by F. J. Srb, president. While complete details cannot be given out or obtained, in fact, are unavailable until the work of accounting is completed, it is known and conceded that the institution was not at all in bad financial straits or distressful plight, but those in active charge decided it best to close in good faith to protect their numerous depositors on account of the continued heavy runs made on the bank for two months past. It developed a few hours later that financial assistance was at their command from many sources in the time of stress. The local bank and near local and Fremont institutions offered aid to enable them to pay out out every demand made, but the officers decided that after having taken their action would not then retrieve. Our comments on the situation are just this. It is known that false rumors had originated some months back, that the First National of Dodge was not on a solid footing. It is also known that news of this nature, even if without foundation, spread like wild fire, and in this case as in hundreds of other cases, such talk had worked havoc with a bank under good supervision. As is told to us, one large lodge having the bank in question as the state depository, drew out the lump sum of $90,000 in short order and larger amounts taken out by firms and individuals caused the bank officials grave concern. True facts must be told, they should be told and will be told as far as this writer is concerned, regardless as to who it might engulf or connect. To as yet add to the distracting plight of this banking institution came the news to the general public that all of A. J. Miller's local holdings had been attached or liens placed on his farm recently sold to Stephan Janecek as well as on the residential property owned by Miller in town. Rightfully considered this should have not in anyway reflected upon the credit or standing of the First National Bank as F. J. Srb had acquired all of A. J. Miller's bank stock and is a man who is trustworthy, reliable, honest and conservative, but nevertheless, it did effect the bank. People rushed to withdraw their funds and the runs once having subsided continued. The First National Bank of Dodge is capitalized at $50,000.00, and has a surplus of $25,000.00 and undivided profits of $10,000.00. It was formed in 1903 and was the second bank to be organized at Dodge. The bank came under new management last April, F. J. Srb being elected president, succeeding A. J. Miller. G. J. Borgemeyer is vice-president and John Miller is cashier. On the door now appears a placard, "Closed by order of Comptroller of Currency, in charge of F. W. Roberts, receiver." Reports are out to the effect that the bank will soon re-open under a new charter and management, however, the re-opening or taking over of the First National Bank is possible only through the establishment of a new state bank to whom the stockholders and perhaps the depositors of the old bank would give a good and sufficient bond as surety for all paper protecting them against any possible loss. The banking department of the state of Nebraska would not permit the new bank to take over the old institution unless it would be secured in that way. This, of course, would be the best way out for all concerned. The business would go on without any barrier, otherwise, if tied in receivership the money will be out of circulation for a length of time and besides a matter of this kind works a hardship on the entire community. It is very expensive to liquidate a bank of this kind and it usually takes a long time before the matters can be straightened out, while the other way a large portion of the expense would be saved. In this manner the bank would be liquidated with very little expense, if any at all. As stated before, more particulars cannot be obtained at this writing, but more will be told in subsequent issues of The Press.
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John Miller's Bank Closed. According to a news item in the daily papers the First National bank of Dodge, Neb., was forced to close its doors and suspend business last Friday because of heavy run of withdrawals by depositors. The bank is one of the oldest in Dodge county and it is said that the uneasiness of the depositors was without foundation. The officers state that it is perfectly solvent, but could not convert its paper into cash immediately. The present cashier is John H. Miller who formerly owned a hardware store in Walthill. It is stated that the bank will be reorganized and reopened.
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Bank at Dodge Closes After Run A run on the bank caused by rumors in circulation forced the closing of the doors of the First National bank at Dodge Friday morning. Plans are being made for either reorganization or the founding of a new bank, E. J. Burgemeyer, vice president, stated, so there will in all probability be no loss to depositors. Mr. Burgemeyer stated that the bank was in good shape prior to the closing but that the withdrawals in the past few days had been more rapidly than money could be obtained and the closing resulted. The First National bank at Dodge, founded in 1903, is capitalized at $50,000 and has a surplus of $25,000 and undivided profits of $10,000. S. J. Srb is president of the bank and J. H. Miller, the cashier.
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NEBRASKA BANK CLOSES AFTER 21 YEARS BUSINESS Dodge, Neb., Nov. 22. (Special.)—A run on the bank caused by rumors in circulation forced the closing of the doors of the First National Bank at Dodge, Friday. Plans are being made for either reorganization or the founding of a new bank, E. J. Burgemeyer, vice president, said. The First National of Dodge, founded in 1903, is capitalized at $50,000 and has a surplus of $25,000 and undivided profits of $10,000.
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THE DODGE STATE BANK, A NEW INSTITUTION To Formally Open Its Doors On Monday In our issue of last week, we informed our readers of the unexpected closing of the First National Bank of Dodge, and in our comments upon the situation made the statement that the said bank was not at all in any bad financial straits or distressful plight, with the work of re-opening under a new charter and management underway. We are as pleased to pen these lines as everybody of Dodge and locality will be pleased to read them, that the Dodge State Bank under the head of Dan V. Stephens, of Fremont, has made arrangements to purchase the assets of the First National Bank and will pay all depositors in full without the loss of a penny to anybody. These negotiations were all completed in such a short span of time that great credit, indeed, must be given to Messrs. A. J. Miller, Dr. Ira Atkinson, F. J. Srb, G. J. Borgymeyer, John Miller, in fact, to all who worked untiringly day and night to be able to establish a record without a precedent in the state or many states. With the opening of the new bank on Monday, but sixteen days will have passed since the First National ceased operations, but the new charter could not have been obtained or any deal with other bank heads consummated, if the First National Bank had not ever been in the best of condition. Bank examiners ever found the institution solvent, safe and sound, and we but repeat our assertions of last week, that numerous runs made on the bank on account of false rumors spread played havoc, as withdrawals exceeded collection and officials knowing that in but little time every cent entrusted to the bank will be paid. On Tuesday, information was received in Dodge that Dan V. Stephens would be in town that evening, and desired all depositors as well as all interested to be at the Sokol hall at eight o'clock. It was a gigantic mass of people who responded and the opera house was taxed to its utmost capacity. Dr. Ira Atkinson, formerly a local resident now of Lincoln, first took the stand and explained in detail the reason for the closing of the First National, and cited the fact that while the bank's loans exceeded deposits by approximately $100,000, when the runs started, collections were not fast enough to stop the tide. He stated in accents strong that he, as well as Messrs. F. J. Srb and G. J. Borgymeyer, and many others had funds in the bank and knew the day before the closing what the final outcome would be, left every dollar in the bank's keeping to assist in the re-organization. Dr. Atkinson next introduced Mr. Stephens, who responded by asserting that the new bank would re-open, pay every depositor, and that normal conditions would be restored. He stated there would be no loss to the patrons and likely not much to the stockholders. All those having checking accounts on the First National to bring their books and change the same on the new state bank. Time depositors, however, would be required to extend the time one year from the date of maturity, the said paper to bear four per cent. Anybody desiring money can borrow, time depositors likewise, and harmony in every way will prevail. He touched in great stress upon the golden rule which ever predominated at his bank at Fremont and which would be exercised here. His earnest talk along these lines it must be stated, inspired great confidence in Mr. Stephens and his new financial institution which we know, and all know, is not misplaced. As above stated, the Dodge State Bank will open its doors on Monday, December 8th, unless there is some delay in obtaining the charter. Up to the time of going to print we are not advised as to who will be the acting officers at this point, but two previous members are mentioned. Notes Strange, as it may seem, A. J. Miller, Des Moines, was not informed of the bank's action and he knew not of their plight until the day after closing. He arrived at Dodge, attesting that he came to assist his former bank and that he would remain here until the doors swung open again. It is known he burned mid-night oil and labored day and night to arrive at the best solution and the result is now apparent. Everybody has his enemies, he may have a few, but many a heart warmed up to him in his acts during this crisis when many had their all in the bank. Dr. Ira Atkinson is likewise deserving of so much favorable criticism, as his heart ever was with Dodge despite his body being elsewhere. He assisted in every way possible to save depositors their money. Frank J. Srb, who succeeded A. J. Miller as president last spring, fulfilled his duties to inspire great confidence. It was not due to his management, or, in fact, no one was responsible for the bank's ride on the rocks for a time, as reason is now too well known. With a man as honest and trusty at the head as Mr. Srb, many not needing money could have deposited additional funds instead of withdrawing. J. H. Miller as well as G. J. Borgymeyer took it as a heart-rending blow, we know, and while most of their possessions were at stake, they strived to attain such settlements that depositors were to receive their money placed in the bank under their care. We feel the people of Dodge and vicinity should in a great measure reciprocate for the treatment they had received. Bank was liquidated in such a short span of time with no loss to depositors and business which had suffered as all can attest, can now go on without any barrier whatsoever. No money tied up in receivership, no hardships to be encountered.
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NEBRASKA BANK CLOSES AFTER 21 YEARS BUSINESS Dodge, Neb., Nov. (Special.)—A run on the bank caused by rumors in circulation forced the closing of the doors of the First National Bank at Dodge, Friday. Plans are being made for either reorganization or the founding of a new bank, E. J. Burgemeyer, vice president, said. The First National of Dodge, founded in 1903, is capitalized at $50,000 and has a surplus of $25,000 and undivided profits of $10,000.
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NEBRASKA BANK CLOSES AFTER 21 YEARS BUSINESS Dodge, Neb., Nov. 22. (Special.)—A run on the bank caused by rumors in circulation forced the closing of the doors of the First National Bank at Dodge, Friday. Plans are being made for either reorganization or the founding of a new bank, E. J. Burgemeyer, vice president, said. The First National of Dodge, founded in 1903, is capitalized at $50,000 and has a surplus of $25,000 and undivided profits of $10,000.
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NEBRASKA BANK CLOSES AFTER 21 YEARS BUSINESS Dodge, Neb., Nov. 22. (Special.)—A run on the bank caused by rumors in circulation forced the closing of the doors of the First National Bank at Dodge, Friday. Plans are being made for either reorganization or the founding of a new bank, E. J. Burgenmeyer, vice president, said. The First National of Dodge, founded in 1903, is capitalized at $50,000 and has a surplus of $25,000 and undivided profits of $10,000.
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NEBRASKA BANK CLOSES AFTER 21 YEARS BUSINESS Dodge, Neb., Nov. 22.—(Special.)—A run on the bank caused by rumors in circulation forced the closing of the doors of the First National Bank at Dodge, Friday. Plans are being made for either reorganization or the founding of a new bank, E. J. Burgemeyer, vice president, said. The First National of Dodge, founded in 1903, is capitalized at $50,000 and has a surplus of $25,000 and undivided profits of $10,000.
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NEBRASKA BANK CLOSES AFTER 21 YEARS BUSINESS Dodge, Neb., Nov. 22. (Special.)—A run on the bank caused by rumors in circulation forced the closing of the doors of the First National Bank at Dodge, Friday. Plans are being made for either reorganization or the founding of a new bank, E. J. Burgemeyer, vice president, said. The First National of Dodge, founded in 1903, is capitalized at $50,000 and has a surplus of $25,000 and undivided profits of $10,000.
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NEBRASKA BANK CLOSES AFTER 21 YEARS BUSINESS Dodge, Neb., Nov. 22. (Special.)—A run on the bank caused by rumors in circulation forced the closing of the doors of the First National Bank at Dodge, Friday. Plans are being made for either reorganization or the founding of a new bank, E. J. Burgemeyer, vice president, said. The First National of Dodge, founded in 1903, is capitalized at $50,000 and has a surplus of $25,000 and undivided profits of $10,000.
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SAID THAT DODGE FIRST NATIONAL WILL RE-ORGANIZE. When the First National Bank in our sister town of Dodge closed its doors it was reported that re-organization would be made in the near future, and that all paper in the bank was in good shape. The following clipped from the Fremont Tribune seems to prove this report correct, and to lend color to the hope that the folks of Dodge interested in the First National will be safe from loss. Meetings of officials in the Fremont State bank of Fremont and the First National bank of Dodge within the past few days have resulted in a tentative plan for reorganization of the Dodge bank into a state bank which, if organized, will be known as the Dodge State bank according to Dan V. Stevens, president of the Fremont State bank, today. The reorganization plans are subject to the approval of the comptroller of currency at Washington and the Nebraska State Department of Trade and Commerce at Lincoln. Should the proposed reorganization materialize the new state bank will take over the assets and liabilities of the First National bank. The First National bank at Dodge closed its doors recently after reported unfounded rumors had caused a run on the bank. It was reported at the time that there would be no loss to depositors. RELATIVE FROM WISCONSIN VISITS THE BORGELTS H. H. Buenger of St. Charles, Mo. arrived here last week for a visit with the Borgelt families. Mr. Buenger is over 80 years of age, but is active and energetic, doing his daily stunt of work when at home and expects to be on the active list at the 100 mark. While here, he stayed mostly with his nephew Fritz Borgelt, visiting round with his sister and the younger generations. This is Mr. Buenger's first visit but after a real treat of two weeks among the hospitable members of the family, he promised it would not be his last, and he would again be with us next year. Meister Bros. made a shipment from Snyder Thanksgiving day of light heifer stock to the Omaha market which they had picked up from Carl Voegler, J. Kaup. Their last shipment before, two loads of hogs on Wednesday, they managed to close on a raising market, and as markets are going now this was lucky Gus Schubert arrived home the first of the week from a visit to Canadian points. While Gus seems to have enjoyed the trip he also seems to agree with the rest of us that there's no place like this section.
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DISTRICT COURT NOTES. (F. R. MOORE. Clerk) District Judge Louis Lightner of Columbus has recently made several decisions and findings in cases closing the February, 1925. term of district court in and for Colfax county. In the partition action of Joseph Hledik, et al., vs. Christina Hledik, et al., the final report of the referee was approved and the referee was discharged. la the case of John Healy vs. Colfax county, Nebraska, in which the plaintiff brought action for damages because of a proposed drainage ditch the plaintiff's motion for a new trial overruled. The case was tried to a jury on March 16, 17 and 18, 1925, and the jury brought in a verdict of no cause for action. In the case of Frank W. McRoberts, receiver of the First National Bank of Dodge, Nebraska, vs. William R. Porter, et al., there was default of the defendants and the finding was for the plaintiff in the sum of $7466 64, with interest at 10 per cent, which is a first lien upon the real estate involved. A decree of foreclosure was entered and a sale of real estate ordered. In the partition action of Pauline Knight vs. Alice Knight, et al., the sale of the real estate was confirmed and distribution ordered. The fee of the guardian ad litem was fixed at $50 and the fee of the attorney was fixed at $125.00. In the foreclosure action of Vaclav Novak, vs. Walter W. Wolfe, et al., there was a default of the non-answering defendants. The plaintiff was given judgment against the defendants, Walter W. Wolfe and Olga Wolfe, in the sum of $12875 18, with interest at 10 per cent, as a first lien on the real estate involved. The Banking House of F. Folda was given judgment against the same defendants in the sum of $6141 50, with interest at 10 per cent which is a second lien upon the real estate. A decree of foreclosure was entered and a sale of the real estate ordered. In the case of L. Sibbernsen vs. Millard F. Johnson, et al., there was a default of the non-answering defendants. The plaintiff was given judgment against the defendants, Millard F. Johnson and Margaret Johnson, in the sum of $1075 95, with interest at 10 per cent which is a first lien upon the real estate involved. The Farmers' Elevator Company of Adams. Nebraska, was given judgment against the same defendants in the sum of $397.15, with interest at 10 per cent which is a second lien upon the real estate. A decree of foreclosure was entered and a sale of the real estate ordered. In the action to quiet title of Edward Thomas Hrubesky vs. Anna Hrubesky, et al., Geo. W. Wertz was appointed guardian ad litem for Mrs. Anna Hrubesky, incompetent. In the case of the First National Bank of Schuyler, Nebraska, VS. Frank H. Pollard, the sale of real estate was confirmed and a deed ordered. In the case of Frank J. Oborny VS. Joseph V. Vrba, president. et al., the finding was for the defendents and the petition of the plaintiff was dismissed. The plaintiff brought ac. tion against the officers of the Catholic Workmen Lodge alleging irregularities in the conduct of the business of the lodge. Ernest Quesner was given a deficiéncy judgment against Joseph J. Hiedik and Louis Hledik in the sum of $451.25, with interest at 10 per cent from March 16, 1925. In he foreclosure action of the Federal Land Bank of Omaha, vs. Agnes Tuma, et al., the plaintiff was given judgment against the defendant, Agnes Tuma, and the intervenors, Stephen Tuma, guardian, Emil Tuma, Emelie Tuma, Lumir Tuma, Lambert Tuma and Pauline Tuma, in the sum of $10,508 28, with interest at 10 per cent, which is a first lien upon the real estate involved. Joseph K. Suchan and Rudolph L. Suchan were given judgment against the same defendant and intervenors in the sum of $1299 10, with interest at 10 per cent, which is a second lien upon the real estate. H. Dey Myers was given a judgment against the same defendent and intervenors in the sum of $228.00, with interest at per cent, which is a, third lien upon the real estate. Stephen Tuma, guardian, Emil Tuma, Emelie Tuma, Pauline Tuma, Lumir Tuma and Lambert Tuma were given judgment against Agnes Tuma in the sum of $23,433 33, with interest at 7 per cent, which is fourth lien upon the real estate. The mortgage in favor of Agnes Tuma, guardian, was restored of record. The mortgage in favor of John M. Folda was cancelled. A decree of foreclosure was entered and a sale of the real estate ordered. The case will be appealed to the supreme court by John M. Folda who has filed a supersedeas bond in the sum of $2,000.00. In the partition action of Joseph Svoboda vs. Emery Stowell, et al., there was a default of the defendants and the finding was for the plaintiff and the title to the real estate involved was quieted in the plaintiff. In the divorce action of Anna M. Church vs. Charles E. Church, the plaintiff was allowed temporary alimony in the sum of $75.00 per month, beginning June 1, 1925, and each month thereafter until further order of the court. The attorney's fees was fixed at $150.00 and $50.00 was allowed for suit money, said sums payable within ten days after May 23rd. 1925. In the case of city of Schuyler, Nebraska, VS. Dennis W. Killeen, et al., the motion to make more specific was overruled, to which ruling the defendant, Thomas Stibal, excepts. The motion you strike was also overruled, to which ruling the defendant excepts. Donald D. McLeod and Julia McLeod are plaintiffs and Mary M. Crowley, et al., are the defendants in a parition action recently filed. The June, 1925. term of district court convenes Monday, June 1, 1925. The jury is summoned to appear on Tuesday, June 2. 1925, at 10 o'clock in the forenoon. Judge Frederic W. Button of Fremont will be the presiding judge.' The docket for the term has not as yet been called.
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BARBERRY BUSH OUTLAW Search for to Be Made in Three Northeast Nebraska Counties Norfolk, Neb., for the plant grains, gin in Pierce, and Stanton on June to date netted the state bushels They were properties. Eradication of the barberry bush difficult birds frequently carry seeds long and they take field where presence has never been known before. With in the last six years oirberries have been in 70 counthe state. Their early and source will obtain from federal for the fiscal year, beginning July for barberry eradication. SUPREME COURT TO HEAR CASE ON KEEP OF PRISONERS Lincoln, Neb. statute which undertook transfeeding of prisoners the Douglas county jail Omaha sheriff the county board and emolument of office, which said its incumbent $15,000 $20,000 year profit, was enactment, argued pro and con before the Nebraska court sitting during the week of June The suit was brought by former Sheriff Andres against the county board to enjoin them from with feeding the prisoners collecting the legal lowance per day for one. The average of about 200 inmates, including state and federal prisoners. The sheriff won in the discourt, and the board appealing. In the last legislature, Senator terman of Central bill taking the matter providing subsistence the population out sheriff's hands. passed the upper branch but was lost in the house. ASSERTS DID NOT GUARANTEE BANK PAPER Lincoln, Neb., (Special)Miller, former president of the First National bank, Dodge, asking the supreme court set aside judgment secured by Frank Srb. The bought the interest of Miller in years ago, and eight later the broke. Srb says that him the paper was all good, and wasn't. Miller says Srb had the notion that banks great makers. tried to buy into one bank and found the were asking $400 share. When he tackled Miller the latter fered his stock for $200 share. Srb thought he had made good bargain, and that no representations were made to him. Comes the deflation, and of the paper turns out be bad. Miller says he is blame. Srb tried bank durtroublous times, and didn't make Miller that he appealing matter that for pay the judgment. He says Srb agreed settle, and asks of the terms of the LAND APPRAISERS ARE TOLD OF SOIL VALUES Lincoln, Neb., (Special) Seventy men whose jobs consist of valuing land for the loan companies and land banks are attending twoday course of instruction in soils and soils values and their to land held under direction Condra of the state surExperts from farm and from the kind of soil for, the native vegetation bears fecundity. grasses the part the state are dry long the easte denote moisfertile, sweet, though dry land; grease wood, salt alkali. weeds on land valwas another topic presented. Saturday field trip taken for Other topics covered the relation of farm values to farm and how to check up incomes that HEIRS FILE BRIEF IN SUPREME COURT Lincoln, Neb., Charles Strelow, through their attorneys, filed brief with the preme court Friday the court cision that the will offered Frank Schulz and would have most his from $80,000 $100,000 not the last the deceased. Under the district court decision the and Strelow brothers, would go to the regular heirs, disregarding tirely. FREMONT MAN RAISES BEARING ANIMALS Fremont, Neb., rabbits will no longer need sacrificed for pieces lady's neck, plans Paul Fremonter, materialize. Paul proto real minks, martins, and even skunks, has 12 minks on his little already farm here. "farmers" in other sections assert that profits good and the mand is always in excess of the ply. WOULD BE SUICIDE IS ORDERED Nebraska City, Neb., Sailors, Verdon man who attempted suicide the city jail here Monday afternoon later taken hospital for treatment, the floor window the ground, distance about feet, in tempt escape, but was captured could grounds. examined the board insanity and ordered