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First National Depositors Plan General Meeting general meeting of all deposithe First National bank. to If possible means assisting in the sale of the its assets, in liquidaroceedings, has been called evening at m., in Memorial building. the general gathering larger depositors Those on the the noSimpson, Robin- City
BANK RECEIVER ASSUMES DUTIES G. D Thompson. Los Angeles, arrived in Twin Falls Thursday to assume his duties as l'eceiver of the First National bank of this city, He VPS appointed to the position by the Comptroller of the Currency, Washington, D. It is expected that Mr. Thompson will meet with the depositors, approximately 2400 in number, who have been invited by an informal committee to assemble at Legion Memorial hall Friday night to form a permanent depositors' committee. The session is called for
Bank Receiver Seeks Order Allowing Sale TWIN FALLS. Idaho-A petition was filed in district court here Saturday by Attorney John W. Graham. representing for the First National Bank of Twin Falls, asking court order to permit the sale of $27,000 worth of securito apply on claims of depositors The securities are United States treasury bonds and are expec bring 94 per value. The has already been by J. W. Pole, comptroller of the currency at Washington, D. Twin Falls and the depositors' committee headed by M. Neuman. The latter committee nine members was appointed two months ago represent the depos itors in settling up the bank's affairs. That the Inca Indians knew of brass shown by the of an ax head composed of mixture of copper and zinc.
for the First National bank, Twin Falls, since December, to complete the liquidation of both local banks.
Bank Receiver Files Diamond Loan Suit TWIN FALLS, June 23.—(AP)—A suit to recover $2500 on account of a loan for which the security was a four-carat diamond, was on file in district court here today. The suit was filed by the receiver for the First National bank of Twin Falls and asserts the loan was made in May, 1927, to L. Rabinutz, amounting to $2850, and that the borrower paid $350 on the principal within a few days but has paid nothing Kiwanians Assemble For Annual Parley DETROIT, June 23.—(AP)—Returning to the birthplace of the organization, nearly 3000 members of Kiwanis International with their wives and families are assembling for the opening of their annual convention Sunday. William O. Harris, international president, arrived last night from Los Angeles to take charge of the arrangements. The club was founded in Detroit in 1914, and at a Detroit convention in 1917 the name was changed to Kiwanis International.
BANK RECEIVER SUES FOR NOTE COLLECTION TWIN FALLS (AP)—The receiver for the First National bank of Twin Falls, started suit in district court here Wednesday to recover $2500 on account of a loan for which the security was a four-carat diamond ring. The complaint asserts the loan was made in May, 1929, to L. Rabinutz, in the sum of $2850; that the borrower paid $350 on the principal within a few days, and nothing since.
CAVANAH RULES BANK MUST DEPOSIT COUNTY Decision Involves $30,392 of Public Funds in First National Here A decision requiring D. Thompson, receiver of the First National bank. to pay to the counits $30,392 deposit which was the bank when it closed last December has been handed down by Federal Judge C. C. Cavanah at Boise, according to W. Witham, Twin Falls county attorney, who returned from the hearing of the case Tuesday afternoon. The decision requires the bank receiver to pay to the county previously declared 18 per cent dividend, on all deposits of the county, Witham said, including those made by other county offleers than the county treasurer The reciever had contended that no dividends should be paid on deposit of $26,375 made by the county treasurer. which was COVered by sale of securities the bank had furnished as public depository, guaranteeing payment of deposits of county funds. It was also contended that deposits made by other county officials than the treasurer were made illegally. These included the following: auditor and recorder, $1,513.22: assessor, $1,312.30; probate The suit in which Judge Cavanah's decision was made was entered originally in the district court here, but was removed to the federal tribunal on application of the bank receiver.
Evening publication, Comm. CemeIndigent Ida Evening printIdaho Power election Idaho De$2.00: Gas Oil, car Weed. Welding Spring Rad., radiaotr shop sheriff. extra help Treasurer, Lind $17.58 Leighton, witness fee, $2.25 Leighton, witness fee, Milar. Dan. witness fee Harold Mt. States Vule Shop. expense sheriff Moon's Paint Fur sheriff. Mark Bros. Station Markel mileage, probate, McCoy coal. assigned claim. Prof. Ind., extra $3.00: Lumber tion booths. extra help Pool's Super Service Station. car Prater. $20.57: Company, rectories Potter. surance premium. Porter professional service Passer insanity $10.00: extra Russell, Allen, witness fee Allen, registrar, Royal Knight Coal Co., coal-court $98.61. office H. help-sheriff, Simpson supplies, CLAIMS The Board next proceeded amine for Emergency Bills. and drawn in the following and amounts Laura house rent. Albin. groceriesBensons, Carl grocerDrug Clifford. $12.00; Continental Oil Company, car expenseDetweller Company coal Douglas, Coal Filer Elevator. Hansen Elevator Company coal house $20.00: Home Lumber Coal indikent REPORT OF OF FUNDS THE FIRST BANK OF TWIN FALLS BY PROBATE JUDGE Guy Kinney Probate Judge for Twin Falls County, sonally and by letter appearad fore the Board submitted statement condition of account with Twin Falls Counfourth quarter 1931 fiscal year as follows: total amount money collected said Probate Court and remained deposit the First National Bank at time its closing December 1931. the 21st of this was remitted the Countogether interfrom second Monday January, the tlement which was in the amount The Board at this time after due examination and proved tioned Kinney, Probate REPORT OF FUNDS FIRST NATIONAL BANK OF TWIN Sheriff in and for personally before the and statement of the of his fee Twin Falls County for fourth quarter the fiscal year showing $308.39 the total virtue office and that deposit the National the and this the January 1932 the by the Twin County the and that the the being further business come before the Board of this time, was taken until JAMES BARNES Chairman Attest: HARRY PARSONS, Twin Falls, Idaho. o'clock 1932. MEETING OF OF The Board met this time, suant taken all members and the Clerk Matters Equalization of Property the Property Roll considered until o'clock whereupon recess taken o'clock December 1932 JAMES BARNES. Chairman, Attest HARRY PARSONS Twin Falls, Idaho December 14. OCTOBER SESSION The Board County Commisthis time, recess taken, with ali DEPOSITED BY BANK KIMBERLY The resolution the Board. and after adopted by the Board. all memRESOLUTION: WHEREAS. Treasurer Tax Collector Twin Falls CounState Idaho had deposit. certain the sum $3235.68 with interest from July 1932. the of per the Bank Kimberly. Kimberly, ho, on the November 1932. said bank closed its doors suspended business Said securities had deposited by Bank Kimberly the County Auditor of Twin Falls County, Idaho, curity for the payment funds: securities being described follows: Treasury June 15. and sequent coupons attached as lows: No. 4524D $1000.00 4525E 1000.00 4526F Total Current Expense warrants of Falls County. Idaho. 1932 follows: No. Date Payee Amount Severns Steelsmith 1652 6-14-32 Mrs. Merle Lambing 8.00 Frank Henry 8.00 7-12-32 Jas. Barnes 29.64 7-12-32 Frank Gross 20.20 7-12-32 Mulligan 20.20 Wilson 26.00 Mrs. Freda Swearingen 10.00 Davis 10.00 Bros. 19.98 Barnes Total $375.11 WHEREAS. The County of Twin Falls has made upon the Bank of Kimberly the Comof the State Idaho for the said funds on payment thereof has been refused: and the County of Twin in need funds for the ment NOW, BE IT That Prosecuting Attorney of Twin Falls County, to Ben Finance of the State Idaho and charge the affairs and assets said Bank Kimberly, petition the District dicial District the State of and County Falls. permission sell cash and that funds realized from the sale said paid and plied by the said County far be necessary liquidation the said due Bank of KimCounty Twin Falls. Said Treasury Bonds sold not value accrued interest and County Warrants at not than and Mr. Hamilton EXPENSE Guy Shearer representing The Board next proceeded to the banks. After into the amin Claims Hospital Ex matter some extent the Board ordered warrants this time the matter under order and amounts No further business coming American Electric Company the Board, recess until o'clock MonBenson Coal Service December 19th. 1932 Coal Trans. JAMES BARNES fuel isolation. $20.86 HARRY PARSONS. Clerk. Cannon, & cream, Central provisions, Twin Falls, o'clock 19th, Chicago Medical Book MEETING OF BOARD OF office records City Water- IZATION works $40.82 Colgate The Board met this time, purPalmolive Peet Co., household suant recess heretofore with members and the Clerk provisions, present Matters Equalization of Hoag X-Ray Company, Property supplies, Hollister Stier the Personal Property Laboratories. Hospit Assessment Roll were considered Management, office supplies, said matters pleted 12:00 o'clock Idaho Department pro- adjourned Board visions linen. $50.17 Equalization Sine Die. Idaho Power Company, power, JAMES $163.35 HARRY Prod. Co. PARSONS, Clerk Creamery, provisions, Twin Falls, Idaho. o'clock Kinney Grocery Market, OCTOBER SESSION provisions, Kinney The Board of County Commisprovisions, Kings- sioners at this time, pursuant recess All McCoy Company members and the Clerk being presStates Tel. Co. telephone service, FOR National Laundry, and laundry drugs, The Woods Bros. Company, drugs, Thresher Co., for reduction Alfilda personal Penney taxes expense, Phy Board, after sicians, The Supply supplies, Pollard. Leslie ORDER REJECTING COMPROMISE surgical The Board its sup- counsel. $206.86 up the compromise of Alcohol Salladay 1932 involving supplies, Schering refund taxes under protest and Wm. R. Werner drugs Comprovisions, $59.51; Smith Faus Drug drugs, indigent care. Southern Idaho Who. provisions, Squibb Sons, drugs. $54.12: Sweet, Bert expense, $7.28 Company, provisions and drugs, Trolingers Pharmacy drugs, Twin Falls Gen. Hosclaims, Falls Hospital, assigned claims, Twin Falls Upjohn, drugs, $22.95 Voss, Mrs. H. provisions, Western messages, Youngs milk The Board claims for Agricultural Fair Fund. ordered warrants drawn the following order Farmers Mutual Idaho Power ComNo further coming the recess was taken until o'elock JAMES BARNES. Attest HARRY Clerk Falls. o'clock MEETING OF BOARD OF IZATION The Board met time. pur suant recess heretofore taken, all members and the Clerk present. Matters Equalization of sessment Personal Subsequent Personal Proyerty Roll were considered until whereupon recess taken until o'clock December 1932 JAMES Chairman. Atest: HARRY Clerk Twin Falls. Idaho, o'clock OCTOBER SESSION Board time, pursuant recess. All Clerk board transacted and the hour December 1932. JAMES BARNES. Atest HARRY PARSONS. Clerk Twin Falls, Idaho, o'clock MEETING OF OF IZATION The Board this time pursuant recess taken, members and the Clerk present. Matters of Equalization of Asthe Personal Property Roll and at the hour o'clock taken until o'clock December 1932. HARRY Clerk. Twin Falls, MEETING OF OF IZATION The Board at this time, pursuant with all members and the Clerk present Matters of Equalization of the Subsequent Property Roll and at the hour of taken o'clock JAMES BARNES. Chairman. Atest HARRY Clerk Twin benefit parties for which the work was SESSION The Board County CommisAfter due thereof. sioners met this time, pursuant said was approved recess. Clerk ORDER AUTHORIZING DEEDS OF TAX SUITS Under December 1932, Lot submitted to the Board compromise of Sale certain against County of the Bank the National 30 days since Bank Filer for the recovery the the Commissiontaxes paid under for Minutes giving year 1930. this time confersame, said and held by the Board and the Board, and the Mr Frank StephClerk was the Board and prepare Deed to Mr. neys for the said Lots Public East Front Door Court House Twin Falls County, Idaho, cember 1932, Jensen, being the and the Clerk to deed Mr. Jensen for said property No further the Board, was tak- Twin Falls, Idaho, o'clock REGULAR OCTOBER SESSION The Board County Commissioners met this time, pursuant members and the Clerk The of Harry Clerk the District Court Ex-Officio Auditor and Recorder Twin County, Idaho, OF PERSONAL Claud Stewart. County Assesbefore the Board letter and recited that all extended evidenced Receipt No. covered the Bulk Plant Shell Oil reported by the Shell Off Company their shown Real Receipt requests the Board Personal Tax Receipts No. 1869. After said cancellation approved the Board No further business coming before the until 1932, JAMES BARNES. the Farmers Mutual Bank Buhl First of Filer, the Board that not fered that said Attorthe until finally adjudicated the PERSONAL In the matter the Personal Patten the 1932, Claud Stewart. County appeared before the Board and that property made against John Patten, Merchandise Fixtures OreTrail Tourist outside corporate limits of the of Buhl, and not subject Buhl levy, through Buhl City taxes were extendin the evidentby Tax No. 970. requested the Board to approve correction the amount that Personal Tax Collector be mitted collect such personal taxes less the amount tended the City and that credit be asked in the sum After due consideration thereon. said was approved by the Board. No further business coming bethe Board recess until o'clock December 21. JAMES BARNES. Chairman. Attest: HARRY PARSONS, Clerk Falls, Idaho. o'clock SESSION The Board County Commissioners met this time, pursuant recess heretofore taken. All members the Clerk present. The Board transacted routine business, at the hour of e'clock until cember 24th, at 10:00 o'clock JAMES BARNES Chairman. Attest: HARRY PARSONS, Clerk Twin o'clock OCTOBER SESSION The Board County Commissioners at this itme, pursuant recess heretofore taken. All Clerk present MONTHLY REPORT Cora Stevens. County Treasappeared before Boardand filed monthly report. After examination thereof the Board, OF ERRONEOUS TAXES IN WEED DEPARTMENT Noxious Weed Control appeared before the Board letter cited that August 27, the Weed cut Canadian ThisCottonwood Creek in which they ed hrs., account Falls County the 1929 Ledger The Ledger shows that account was Twin Turner 1930 extended on the liams. does has had in That the Ledger item charged through was the tax and charge same the gave authorizing taken off the rolls (charged and same Turner Eaton That order the CommisRequests this account be the old (1928) account and 28. 1932, at 10:00 JAMES Chairman. Attest PARSONS, Clerk
CHAPMANS NAMED BANK RECEIVERS WASHINGTON, June 12 Appointment of the law firm of Chapman & Chapman, Twin Falls, Idaho, attorneys for the receivership of the Twin Falls National bank, and the First National bank of the same city, is nounced by O'Connor, comptroller of the currency. They will succeed Frank L. Stephan, attorney for the receiver of the Twin Falls National bank, and John Graham, attorney for the First National bank receivership.
BANK'S RECEIVER RELEASES FUNDS Thompson Ready to Pay Out Checks Amounting to $82,900 A. fund of $82,900 was released here today in distribution of the third payment to depositors of the First National bank, Twin Falls. The sum, which totals 13 per cent of the total amount of proved the total far deposits, brings paid by Thompson, receiver, 43 per cent. The first, in May, 1932, was for 18 per cent, and the second in November of the same was for 12 per cent. year, Depositors were advised today by Mr. Thompson that it is necessary for them to present their receiver's certificates in order that this payment may be endorsed thereon. Checks were received from the office the comptroller of the currency at Washington, D. late Saturday. Total funds released by the bank amount to approximately $285,000.
THE IRONY OF IT Depositors in the old First National bank of Twin Falls are about to share in a fifth distribution of receipts, which will bring to 68 per cent the amount so far repaid them. It is reasonable to presume that the next dividend will amount to a possible 10 or 12 per cent, which would make the sum returned to depositors approximately 80 per cent. Over a period of years depositors may even recover more than that. The irony of all this is that a bank which has been able in a receivership to repay such a high percentage during four years of a depression ever had to close in the first place. Manifestly its assets were sufficient to more than cover its liabilities. Just what sort of hysteria possessed us all back in those hectic days of '31-'32 is difficult to recall now. Many of those who withdrew their funds may find it difficult to account for them now. Those who demonstrated their confidence in strong banks have had their judgments vindicated.