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Nebraska Banks Close Doors Today Lincoln, Neb., Aug. state banks today failed open their doors for and both Charles W. Bryan and E. H. Luikart, secretary of the state of trade and commerce, said the closings were the result of recent bank suspensions The six banks had total deposits $1,180,000. They are the First State bank the Dwight; the Brainerd State bank Brainerd; the Bruno State bank Bruno; the Butter County bank Davis City and the Leigh State bank of Leigh.
Nebraska Banks Fail to Open Doors LINCOLN 17 (AP) Nebraska state banks today failed doors for their both Gov. Chas. and secretary State said result of recent bank The banks total had deposits banks the First State Bank the Dwight Bank of Dwight; State Bank the Bank Bruno: the Butler County Bank Davis the Leigh State
IS ALL WELL? State bank of Dwight the BrainState bank of the Bruno State bank of Bruno the Butler of David City and the Leigh State bank of Leigh Bryan and Luikart said officers of the banks decided to close them so that all would have a greater chance of sharing equally in the banks funds. They said the Leigh State bank had Its funds deposited in the South Omaha State bank which closed last and that the other five had funds on deposit with the Union State bank of Omaha which also closed last week
6 Nebraska Banks Fail To Open Doors Today LINCOLN, Neb., Aug. 17.-(P)- Six Nebraska state banks today failed to open their doors for business and both Gov. Charles W. Bryan and E. H. Luikart, secretary of the state department of trade and commerce. said the closings were the result of recent bank suspensions in Omaha. The banks are the First State bank Pleasant Dale. the Dwight State bank of Dwight, Brainard State bank of Brainard: the State bank of Butler County bank of Davis City, and the Leigh State bank of
Nebraskans Feel Effect Of Omaha Bank Closing Lincoln, Neb., Aug. 17 Nebraska state banks today failed open their doors for business both the state trade and said the closings the result of bank Omaha. The six banks had total deposits The banks the First State Bank Pleasant Dale: the Dwight State Bank Dwight: the Brainerd State Bank of Brainerd the Bruno State Bank Bruno: the Butler County Bank of David City, and Leigh State Bank of Leigh.
NEBRASKA BANKS QUIT. Six Failures Follow Recent Susin Omaha. LINCOLN, Neb., Aug. Six small state banks failed to open for today. Governor Charles W. and H. Luikart, of the state of trade and commerce. said the the sult of recent bank suspensions in The six banks had total deposits of They were the First State Bank of Dale, the Dwight State Bank of Dwight, the Brainard Bank of the Bruno State Bank of Bruno, the Butler County Bank of Davis City and the Leigh State Bank of Leigh.
Six Small Banks In Nebraska Closed LINCOLN, Neb., Aug. small Nebraska state banks failed to for business today. Governor Charles and Luikart, secretary the state of trade said the were the result recent in Omaha. The six banks had total deposits They were the First State bank of Pleasant Dale, Dwight State bank of Dwight, the Brainard State bank Brainard, the Bruno State bank Bruno, bank of David and the Leigh State bank of Leigh.
Institutions Fail to Open Doors Today Neb., Aug. Nebraska state banks today failed their open doors for busiand Charles W. Bryan and Luikart, secretary the state department trade and said the closwere the recent Omaha. The banks total the First State bank PleasDale: the State bank Dwight; the Brinard State bank Bruno State bank Butler County bank Davis City and the Leigh State bank of Leigh.
Six State Banks In Nebraska Close Doors Lincoln, Neb., August 17 banks, estimated $1,120,000 voluntarily their doors today. The closures, to Charles W. who for the State "direct result of the Omaha. Union State Bank of Closed today were the following state banking State Bank, Pleasantdale; State Dwight: BrainBrainard; Bruno State Bank, Butler County Bank, David City; Leigh State Bank,
SIX NEBRASKA STATE BANKS FAIL TO OPEN Blamed By Governor On Recent Bank Suspensions Deposits Of Over Million. Neb., Aug. Nebraska state banks today open their doors for business both Gov. Charles Bryan Luikart. secretary the state department trade said the the result recent bank in Omaha The six banks with total deposits are the First State bank Pleasant Dale: the Dwight State bank Dwight; Brinard State Bruno State bank of Bruno; Butler county bank Davis City, and the Leigh State bank Leigh.
GOVERNOR APPOINTS RECEIVERS OF BANKS GEORGE E. HALL TO HAVE STATE BANK OMAHA. Bryan Says That Efficiency and Not Locality or Politics Control Choice. Governor Bryan announced apant receivers recently failde pointment the following assiststate banks: George E. Hall, Lincoln, State bank Omaha. Barak, Petersburg, South Omaha State bank. Haase, Norfolk, Farmers Merchants, Benson. W. M. Whalen, Lincoln, First State bank, Reif, Bloomfield, Leigh State Brozek, Chadron, Bruno State Bruno, and bank of Wisda, Ord, Butler County State bank, David City. Ruzicka, Schuyler, Dwight State bank, Dwight. Lincoln, State examiner in charge of Union State bank, Omaha. Secretary Luikart of the department of and ceiver of all state banks and the will as his assistants in liquidating the failed banks under their charge. M. Morrisey, former chief justice, had been appointed for receiver the State Bank of Omaha, Eugene O'Sullivan, attorney for the receiver the South Omaha State bank, Harland Mossman for the Union State and Howard Saxton for the Farmers and Merchants bank of Benson. These attorneys all reside in Omaha. Governor Bryan announcing said policy the of and use the efficient receivers the staff rather than to make local political The appointees are now charge of banks and have shown liquidating for the benefit depositors, said the governor. He stated that he had received letters some petitions in one day written in the interests one but had thought not the best interests the depositors to appoint the man. "These assistant receivers are skilled bankers, said Governor Bryan, "and have their present works so arranged that others can take their places these highly trained men assume duties where.' Most of the attorneys appointed (Continued on Page 5.)
BRYAN APPOINTS BANK RECEIVERS Experienced Agents Get Preference Over Local Men. Effort Being Made To Reopen Union State At Omaha. Instead naming local applicants Omaha acting receivers banks which recently failed in those communities, who have had previous men experience in handling such institutions and shown their ability convert assets into money for the benefit given the for those positions. of nine ppointments agents charge banks have their doors during the weeks Saturday by Governor All those assigned take charge the were chosen from list of men employed for such duty. They E. Hall, Lincoln. State bank of Petersburg. South Omaha State bank, Omaha Haase, Norfolk. Farmers bank, Whalen, Lincoln. First State Dale Bloomfield. Leigh State Brozek Chadron. Bruno State Bruno, Bank of BrainBrainard. County Schuyler. Dwight State Dwight Lau, examiner in charge, Wants Most Efficient Men. important posts and filled men who know need said Governor Bryan. "Having in the the the most utilize and efficient the deparment's staff than banking local people assistant appoint may not prove receivers qualified for the have been in service These men for some and of assets their for to the largest money for requests have come from the to have this that from man apapointed. letters support of from Omaha ticular applicant, and letters and in other behalaf had been received the day believe the before. better fare of the depositors putting trained asserved sistant declared he The B Page
HALL RECEIVER OF STATE BANK George E. Hall, Lincoln, former state treasurer, was named assistant receiver of the State Bank of Omaha Saturday by Governor Bryan. Other assistant receivers named for Omaha closed banks are: A. J. Barak, Petersburg, South Omaha State bank; J. E. Haase, Norfolk, Farmers and Merchants bank, Benson; C. A. Lau, Lincoln, state bank examiner, Union State bank. Assistant receivers named for out-state banks are: W. M. Whalen. Lincoln. First State bank of Pleasantdale: L. H. Reff. Bloomfield, Leigh State bank. Leigh: T. J. Brozek. Chadron, Bruno State bank, Bruno, and Brainard State bank at Brainard: J. C. Wisda. Ord, Butler County State bank of David City: E. E. Ruzicka, Schuyler, Dwight State bank of Dwight. The governor said he had ignored scores of requests for political appointments and was naming experienced men as assistant receivers. "In placing these men in charge of the banks named we are transferring them from other receiverships where they have shown utmost efficiency in conserving assets for depositors and winding up affairs of the institutions under their charge,' Bryan said. "The banks relinquished by the men named Saturday have been so organized that they can be handled by other men.' E. H. Luikart, secretary of the department of trade and commerce, is the receiver for all the closed state banks. The assistant receivers will have actual charge of the affairs of the banks.
Bank Receivers Named Lincoln, Neb., Aug. 22 LP)-Governor Bryan today announced the appointment of the following assistant receivers for closed state banks outside of Omaha: W. M. Whalen, Lincoln. in charge of First State bank of Pleasant Dale: L. H. Reif, Bloomfield, Leigh State Bank of Leigh: T. Brozek, Chadron, Bruno State Bank of Bruno, and the Brainard State Bank at Brainard: J. C. Wisda of Ord, Butler County State Bank of David City: E. E. Ruzicka, of Schuyler, Dwight State Bank Dwight.
VETERINARIAN Given to Sick Serum Man but Death Comes Frank Lynch, Suvverkruble, veterinary living near Neb., dead of anthrax. Dorsey, had been given serum but He his condition was very serious from the start. He sick for five days. CLOSED BANK RECEIVERS ARE CHOSEN BY BRYAN Lincoln, Special: Gov. Bryan announced appointment following receivers recently failed state banks:! H. Reif. Bloomfield, Liegh State bank, Leigh: Brozek, Chadron, Bruno State bank, Bruno, and Bank Brainard, Hall, Lincoln, State bank Omaha; Barak, South Omaha State bank; Haase, Norfolk, Farmers Merchants, M. Whalen, Lincoln. First state bank, PleasantButler county state David City: E. Schuyler, Dwight State bank, Dwight: Lad, Lincoln, state examiner in charge of Union bank, Omaha. Secretary Luikart of the 5ment of trade and commerce, receiver all failed state banks and appointees serve his assistants. Gov. Bryan said was the policy of the department trade commerce to use the most efficient on the staff rather than to make political appointments. FLORIDAN ORDERS COYOTES FROM NEBRASKA RESIDENT paper publicity does pay, in the opinion of Edward Winkler. man residing Verno Beach, Fla., dered two baby coyotes from him after reading of coyote captures. According trouble should be experienced in filling the order. TIN CAN POISONING IS FATAL TO SEVERAL PIGS Emmett, D. H. Bennett O'Neill diagnosed affliction that killed several pigs the Guy Beckwith ranch tin poisoning. Buttermilk had been allowed stand several days. Acid forming the milk thought to have corroded the tin.
LEIGH STATE BANK CLOSES DOORS MONDAY Continual Withdrawals and Unfavorable Propoganda Cited as Cause The doors of the Leigh State bank. here, failed for business morning by act of the board directors, who gave out tice that closing effected and that the bank be examined the state banking department. signed issued to this paper by the cashier, Nelson, which can be found on this page, states that propaganda continued withdrawals, depleted bank's reserves to point directors thought best to close bank for the protection the depositors. The statement also quotes deposits shrinking from of year ago $179,000.00 at the present time. Monday afternoon Bank Examiner Haynes arrived diately went books institution. After his findare made the state department appoint receiver the bank, probably will be Rief, who now charge of the Citizens State Creston and Columbus State The receiver then depositors meeting which will elect committee to act upon the affairs the closed bank Many that the deposimeeting when the bank's fairs will be open to the public, reorganization will be affected the bank will again. World.
DEPOSITORS WILL RECEIVE THAN 19 PERCENT MEETING DISCUSSES MATTERS TO THE FAILED Depositors in the failed Leigh State Bank met at the opera house Wednesday evening to discuss the status of the situation at this time. Members of both the regular and the farmers committees were present and the first argument alose to which committee should call ing. John Wullschleger sr., was asked to take the chair, but due to deafness, he vacated in favor of A. H. Breunig. Assistant Receiver H. Reif stated that complete report of the assets of the bank had recently been asked for by the farmers committee and that tentative valuation had been placed on the notes and other assets of the failed institution. A total value of was placed on the of the notes and these were appraised at $15,757. Other property in possession of the depositors brought the total up few thousand dollars, according to Mr. total of 19% is all that the depositors can expect if assets are collected in full according to the value placed upon them by the committee," Mr. Reif said. "The statement is being noised around that the receiver gets $20.00 per day. agree with I'd like to," said Mr. Reif. "Some months my salary has been as low as he continued. There was much feeling displayed in the discussion of the assets of the failed institution. Several of the speakers brought up the matter of large notes in the defunct bank not being secured and absolutely worthless. might just as well say goodbye to our money, unless we get an attorney to look after our interests." should have hired good lawyer in the first place," said one of the depositors who lost money in the bank. The manner of appointing depositors' committee was discussed. To this the receiver replied that every detail of the banks business was to the interested parties and that the books be may seen at Columbus. "Why do we have to go to Columbus every time we want to know something about our own business asked one of the depositors. Receiver Reif stated that it was his experience that it was positively possible to keep the depositors and and the borrowers separate at an open depositors' meeting. He also stated that depositors can call meeting any time they wish. farmers and working people have to take things in our own hands are going to get anywas another thrust made by one present. Speaking about the in the defunct bank, Receiver Reif stated that these documents will eventually be sold at auction matter of procedure in these cases whole thing was crooked," exclaimed man. Asked about some of the notes held by an Omaha bank, the receiver stated those had to be sold in the metropolis satisfy their claims and an overdraft of $1,584.00 in the South Omaha institution. all sounds like hot wind. The way looks to me they had no security behind their notes and we depositors are stuck." said an elderly man. Nearly one-hundred people were present at the meeting. About dozen women were in the crowd. The matter was further threshed out in small groups following the meeting.
DEPOSITORS OF LEIGH STATE BANK WILL NOT RECEIVE MORE THAN 19 PERCENT Depositors in the failed Leigh State Bank met at the opera house Wednesday evening to discuss the status of the situation at this time. Members of both the regular and the farmers committees were present and the first argument arose as to which committee should call the meeting. John Wullschleger sr., was asked to take the chair, but due to deafness, he vacated in favor of A. H. Breunig. Assistant Receiver L. H. Reif stated that a complete report of the assets of the bank had recently been asked for by the farmers committee and that a tentative valuation had been placed on the notes and other assets of the failed institution total value of $80,790 was placed on the value of the notes and these were ap praised at $15,757. Other property in possession of the depositors brought the total up a few thousand dollars, according to Mr. Reif. A total of 19% is all that the depositors can expect if all assets are collected in full ac. cording to the value placed upon them by the committee, Mr. Reif in any other radio. Get new radio The statement is being noised for the great programs of 1932! around that the receiver gets NINE TUBES $20.00 per day. I agree with this -that I'd like to, said Mr. Reif. Some months my salary has been as low as $14.00,' he continued. There was much feeling displayed in the discussion of the assets of the failed institution. Several of the speakers brought up the matter of large notes in the defunct bank not being secured and absolutely worthless. We might just as well say MADISON MODEL goodbye to our money, unless we Table model in Art Moderne, radio get an attorney to look after our new ubesuperheterodyne using the interests." We should have Volume Control, Automatic hired a good lawyer in the first Tuning, Tone Control and Detection. Every amplifier place, said one of the depositors tube Price, complete with Majestic $5950 who lost money in the bank. tubes The manner of appointing a deA very moderate down payment and positors committee was discussed. uberal terms make purchase of a To this the receiver replied that modern Majestic easy. every detail of the banks business IGNAC POWOLNY, was open to the interested parties and that the books may be seen at Headquarters at Holoubek's Columbus. Why do we have to Columbus every time we want to Service Station, Phone 30. know something about our own Clarkson, Nebr. business? asked one of the depositors.
DEPOSITORS' MEETING LARGELY ATTENDED A large number of depositors of the Clarkson State Bank attended the meeting called last Thursday for the purpose of acquainting the depositors of said bank with new plan under which the bank is to operate. The meeting was presided over by A. J. Vlach, chairman, who after brief talk introduced Jos. T. Votava, prominent attorney of Omaha, who is well versed in these matters and who has thorough knowledge of the banking situation as it now stands. In the opening part of his talk, Mr. Votava stated what experience he has had with the handling of banks in distress. The banks he cited, according to his version, were in much worse condition than is the case with the Clarkson State Bank and these institutions at this time are gradually working out of their difficulties. He pointed out that receiverships are very expensive and oftimes work hardship not only on the depositors, but the borrowers as well. As rule, he stated, when matters are wound up, everyone concerned in the liquidation of the closed institution is a loser, notwithstanding the community in itself. Mr. Votava stressed the point that the present law known as House Roll 167, was created for the purpose of alleviating these depressed conditions, and he strongly urged the depositors to sign the required waiver agreements. A large number of depositors signed the waivers at the meeting and since the meeting nearly two-thirds of the bank's depositors have already signed the contracts. As soon as the required percentage of deposits is obtained, the state banking department will name a depositors committee which will look after the interests of the depositors and the institution itself. There are some who hesitate to sign the waivers, but those acquainted with the affairs of the bank, feel that it is the only wise thing to do under present conditions. To throw bank into receivership is not always the best thing for depositors to do. The Leigh State Bank, for instance, closed its doors two years ago and under its form of receivership has thus far paid out only 6 per cent. A Snyder bank closed in 1927, and in charge of a receiver, has brought about a big loss to depositors and still the matter remains unsettled. Another similar case exists over at Scribner, and there are hundreds of same cases all over the state. The following item appearing in last Monday's gives a fair idea as to what costs to liquidate a bank through receivership. In many other instances where banks were liquidated through receivership the cost and expenses were even much greater. "Fee Payment Allowed in Bank Receivership Harlan, Ia., May 7.-Following hearing before Judge Wheeler on allowance of court costs in the Elk Horn bank case, Receiver F. H. Kruse is to receive from the main trust fund for his services to date, $1,200. V. H. Byers, attorney for the receiver, will receive $1,500. Kruse had previousreceived approximately 11 thousand dollars, while Byers had received $11,346.50." The above item plainly shows that the receivership of a bank is very costly proposition. It is far better for the depositors to have their bank liquidated by the officers of the bank in an orderly and less expensive manner than to place a stranger in charge of the bank's assests. There are many other factors to be taken into consideration before anything permanent is done. The fact that you sign the waiver agreement does not deprive the depositors of their privilege of placing the bank into receivership in case the officers in charge can show no progress in the liquidation process. Under the new Nebraska law, H. R. 167, SO we are informed, those employed at the bank operating under restrictions, must earn their own salaries from the profits of the bank. In view of this the depositors have nothing to lose and everything to gain. With the price of small grain and live stock increasing daily, there is no question but what we will a great improvement in conditions before the next few months and from our observations it would appear to be downright crime to permit the closing of a bank at this time when improvement seems to be SO near. At times like these of today, the welfare of the community must also be taken into consideration when it comes to the settling of a vital matter such as the one now confronting us. Where there is will there is a way. Save your banks and business institutions and the community of Clarkson will be sure to prosper as it has in former years. Sound judgment on the part of the depositors, borrowers, bank officials and all concerned will greatly help in bringing our banking institutions back to the top where they once were. Forget petty jealousies and let all pull at one end of the rope. We owe it to our town and community.