Thedford Bank (Thedford, NE)

Episode Information

Episode UID
76088971493
Episode Type
Suspension → Closure
Bank Type
state
Bank ID
7608897 routing
Routing Number
76-0889
Start Date
May 9, 1924
Location
Thedford, Nebraska (41.978, -100.576)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
875db26495b2c2a8

Response Measures

None

Description

Also referenced as Thedford State Bank; receiver actions and legal suits indicate permanent failure.

Events (2)

1. May 9, 1924 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Receiver appointed and payments delayed following insolvency and alleged false statements of condition by bank officers (president Peter E. Nelson).
Newspaper Excerpt
Samford Parker of the Nebraska State Bank Guarantee Fund Commission is now in charge of Thedford Bank as receiver. It is understood deposits will not be paid before 30 or 60 days.
Source
newspapers
2. July 10, 1924 Receivership
Newspaper Excerpt
The State of Nebraska ex rel O. S. Spillman Attorney General ptf vs Thedford Bank. Receiver to sell lots ... Report of receiver filed and presented to court showing that $59,055.00 worth of claims ... receiver is directed to sell 7 per cent 1 year Receiver Certificates to the amount of $47,500 and pay off each and all of said claims within three weeks hereof ... O. S. Spillman, Atty. General.
Source
newspapers

Newspaper Articles (12)

Article from The Los Angeles Times, April 29, 1924

Click image to open full size in new tab

Article Text

MIDDLE WEST NEWS IN BRIEF [EXCLUSIVE DISPATCH] DES MOINES, April 28.—Mrs. Elizabeth Weston, 79 a resident of Des Moines for more than fifty-five years, died yesterday at her home here. Appointment of Robert L. Leach, superintendent of the State Banking Department, as receiver of the defunct Wiota Savings Bank, is asked in a petition filed in the Cass County District Court by Atty.-Gen. Gibson. The Wiota bank was closed after a quiet "run" had depleted the reserve fund. Mrs. Charles Smith of West Branch is slowly recovering from a peculiar accident. During a recent electrical storm the electric and telephone wires became crossed causing the phone to ring. Mrs. Smith attempted to answer and was knocked unconscious for some time. Word from Atlantic says Dist. Judge Whitmore has signed a decree granting judgment in favor of the Marne Savings Bank, a defunct institution, against its former president, John T. Clasen and his wife, Mrs. N. L. Clasen, for $6600 and $200 respectively. INDIANAPOLIS INDIANAPOLIS, April 28.—The population of Indianapolis by July 1 will have passed the 350,000 mark, reaching an estimated total of 350,425, according to the 1924 estimate of the Census Bureau. This is an increase of 7707 over the 1923 estimate and an increase of 36,231 over the official count of 1920. Mrs. Rose Lanam, wife of S. O. Lanam of Columbus, Ind., has filed cross complaint in Circuit Court here in her husband's divorce suit, alleging the plaintiff is worth $100,000, and demands $30,000 alimony. News of the award of a bronze Carnegie hero medal, with a monthly allowance of $30 for herself and her son 2 years old, came as a complete surprise to Mrs. Carrie Judy of Anderson yesterday. Her husband, George Franklin Judy, lost his life at Lawrenceville, Ill., in saving the life of a fellow-employee of the Indian Oil and Refining Company. KANSAS CITY KANSAS CITY, April 28.—Dr. Patrick Francis Lyons, 63 years of age, died in St. Joseph Hospital yesterday. He was a practicing physician here twenty-five years and retired five years ago on account of failing health. He leaves a widow, Mrs. Margaret Lyons. J. Carroll Walzer, 24 years of age, formerly cashier of the defunct Bank of Puxico, was arrested last night on an indictment of the Stoddard county grand jury charging embezzlement, grand larceny and receiving of deposits while the institution was insolvent. The bank's shortage is estimated at $400,000. Word from Topeka says labor's annual spring opening now is in full sway with a big demand for workers in all lines of industry, according to the weekly report of the labor division of the Kansas Industrial Court. The 946 men applying in the week at the seven free employment stations throughout the State constitute the largest number since last summer, and the demand for laborers, especially those not skilled, exceeds any week in the last four months. ST. LOUIS ST. LOUIS, April 28.—Friends of Joseph M. Ebeling, attorney and real estate dealer and formerly a member of the old City Council, have learned he was married on September 25 last in Germany to Mrs. Bertha Moerschel, widow of a wealthy brewer of Jefferson City, Mo., who died about six years ago. A City Dancing Commissioner, to maintain order and good morals in public dance halls, is provided for in an ordinance introduced in the Board of Aldermen. With it was submitted a petition signed by forty-four individuals, many of them prominent citizens, and the St. Louis Dancing Teachers' Association. LOUISVILLE LOUISVILLE, April 28.—Louisville increased its population 10,592 in the last year and now is 310,788, according to the new City Directory. Sale of the G. Lee Redmon Company, including the White Mills distillery and whisky made by the distillery in storage in the warehouse covering the block bounded by Eighteenth, Twentieth and Howard streets and Garland avenue, at a price reported to be $1250 a share, or a profit of $200,000 to Owsley Brown, last night was admitted to be pending. The will of the late John T. Botts of Mt. Sterling, who died ten days ago, was probated yesterday. The property consisted of 600 acres of blue grass land and other holdings and is valued at $100,000. One-third of the real estate and one-half of the personality was left to the widow, Mrs. Mary Botts. The balance is left to William Botts, son, but if he dies before reaching his majority the inheritance will go to the mother. OMAHA OMAHA, April 28.—The First National Bank of Schuyler, Neb., which was closed last week after a heavy run caused by untrue rumors regarding the bank's condition, will be reorganized and reopened soon under a State charter. Death of Bertram G. Goodhue, designer of the new State Capitol, who died suddenly after a heart attack in New York, is not expected to complicate completion of the building. Gov. Bryan said at Lincoln work on the structure has progressed sufficiently that Mr. Goodhue's ideas can be continued satisfactorily, it was stated. Peter E. Nelson, former president of the closed Thedford Bank, entered a plea of guilty to the charge of making a false statement of the condition of the bank to the State Department of Trade and Commerce and was sentenced to serve five years in the penitentiary. Major J. W. Cress, 87 years of age, Civil War veteran, died at his home following ill health of more than eight months. He was adjutant of Phil Kearney Post No. 2, G.A.R., and a resident of Omaha since 1886. Maj. Cress and Mrs. Cress heard Abraham Lincoln's famous address at Gettysburg. AKRON AKRON, April 28.—The will of the late George T. Allen, who died recently in Florida, bequeaths an estate estimated at $250,000. Aside from a small bequest to various relatives, the estate is left in trust for the two sons of the deceased, Don O. and Ben H. Allen, each of whom will receive their shares in three installments, the last to be paid when they reach 55 years of age. An unprecedented building boom in Akron's suburban cities is becoming more noticeable daily. And home building is leading the construction program. Cuyahoga Falls, in particular, and Kenmore and Barberton report the biggest home-building activity in many years. In Cuyahoga Falls nearly 100 homes, which will cost approximately $500,000, are under construction. City officials have signed a State lease for Summit Lake and have sent the contract back to Columbus for the signature of Gov. Donahey. The State property bordering the water is to be made into a park. The waters are to be cleaned and a municipal bathing beach will be created. MINNEAPOLIS MINNEAPOLIS, April 28.—John Birkholz, real estate dealer and banker of Grand Forks, N. D., and Minneapolis, left an estate of more than $150,000, with bequests of $5000 for the Sheltering Arms Orphanage, Minneapolis; $2500 for a summer outing fund for the poor in Minneapolis and $1000 each to the Minneapolis and Grand Forks Y.W.C.A., according to a petition for administration filed here in County Probate Court Mr. Birkholz died in Los Angeles April 15. Rev. John Resnick, 49 years of age, superintendent of the Zion Society for Israel, died at the Swedish Hospital here. Rev. Resnick was chairman of the board of deacons of Bethesda Lutheran Church. MILWAUKEE MILWAUKEE, April 28.—The Secretary of State's office has issued 295,635 automobile licenses and applications are being filed at the rate of 7000 to 8000 a day, according to Secretary of State Zimmerman. The State has collected so far this year a total of $4,612,168, as compared with $4,798,430 for the entire last year. Twenty-six head of cows and two horses perished in the fire which destroyed all the buildings on the Wallace Bray farm, two miles east of Elkhorn, with a loss of more than $10,000. Four horses were saved. The large barn, granary, tool shed and chicken house were burned. The fire started by the backfire of a gasoline engine. ST. PAUL ST. PAUL, April 28.—A total of twenty-seven deaths as a result of "black" smallpox were reported in the State since the early part of January, Dr. A. J. Chesley, executive secretary State Board of Health, announced. The most recent deaths were reported as follows: St. Louis county, 2; Carlton county, 2, and Aitken county 2. Although these deaths were reported there is no indication that the disease is spreading and the threatened epidemic is on the wane, Dr. Chesley said. Many residents at Albert Lea were startled last night when a large meteor fell north of the city. The meteor traveled low and despite the fact that it was still daylight the ball of fire illuminated the country for miles. The fire ball, which left a trail of sparks and smoke seemed to be about the size of a large tobacco pail. It passed from the south to north.


Article from Press-Telegram, May 4, 1924

Click image to open full size in new tab

Article Text

progress of the flames which were driven by a high south wind. Liquor Violator Fined. DAVENPORT, Iowa, May 3.—A fine of $5,000, the largest ever imposed in a booze case here, was assessed against Clarence O'Hern of Dubuque, Iowa, in federal court here. O'Hern pleaded guilty to a charge of shipping a carload of beer into Davenport. Child Victim Buried. NEWTON, Iowa, May 3.—Funeral services were held here today for Bobby Gowin, the 7-year-old child who was killed by an automobile while on his way to the Clarkson school from his home in Des Moines. The child's skull was fractured and he lived but a short while afterward. Burial will be made from the home of his grandmother, Mrs. A. Dennis. Search for Fiends. HARLAND, Iowa, May 3.—State agents are here assisting Sheriff Oscar Hanson in a search for the persons who destroyed plants in a greenhouse here. Bloodhounds and finger print specialists failed. Girls Must Have Chaperones. SIOUX CITY, Iowa, May 3.—Police ordered today that in the future officers will be stationed at all public dance halls and young girls without chaperones will not be admitted. Keosauqua Improving. KEOSAUQUA, Iowa., May 3.—The streets of Keosauqua will be graded and improved this summer as never before. Work is now going ahead in full force on the primary road through town and the town council is having other streets graded, widened and improved generally. And in addition to this the commercial club has taken steps to have the main business street graveled. Estate Left to Sons. AKRON, O., May 3.—The will of the late George T. Allen, who died recently in Florida, bequeaths an estate estimated at $250,000. Aside from a small bequest to various relatives, the estate is left in trust for the two sons of the deceased, Don O. and Ben H. Allen, each of whom will receive their shares in three installments, the last to be paid when they reach 55 years of age. Building Boom Noticeable. AKRON, O., May 3.—An unprecedented building boom in Akron's suburban cities is becoming more noticeable daily. And home building is leading the construction program. Cuyahoga Falls, in particular, and Kenmore and Barberton report the biggest home building activity in many years. In Cuyahoga Falls nearly 100 homes, which will cost approximately $500,000, are under construction. Bank to Reorganize. OMAHA, Neb., May 3.—The First National bank of Schuyler, Neb., which was closed last week after a heavy run caused by untrue rumors regarding the bank's condition, will be reorganized and reopened soon under a state charter. Banker Pleads Guilty. OMAHA, Neb., May 3.—Peter N. Nelson, former president of the closed Thedford bank, entered a plea of guilty to the charge of making a false statement of the condition of the bank to the state department of trade and commerce and was sentenced to serve five years in the penitentiary.


Article from Thomas County Herald-Clipper, Mullen Sandhills Stockman, May 9, 1924

Click image to open full size in new tab

Article Text

P. Patterson still buys cream adv Samford Parker of the Nebraska State Bank Guarantee Fund Commission is now in charge of Thedford Bank as receiver. It is understood deposits will not be paid before 30 or 60 days. Quite a number of our young people attended the minstrel show and dance given in Seneca Tuesday nite. R. M. McLamyra of Seneca was transacting business in Thedford Tuesday. M. J. Cox and Geo. McCawley were Thedford visitors from Seneca Monday. Mr. Burke, of Denver, father of Mrs. P. E. Nelson is visiting at the Nelson home in Thedford this week. A letter to The Herald from C. E. Thurmond this morning reads thus: Dear Sir: Please send my paper to me here, Hemingford—am on second trick here, regular. Best Regards, C. E. THURMOND, Box 448


Article from Thomas County Herald-Clipper, Mullen Sandhills Stockman, July 10, 1924

Click image to open full size in new tab

Article Text

WHAT THE ATTORNEYS AND JUDGE PAINE THRESHED OUT IN THE LAST SESSION, SAT. Equity: M. S. Sturgeon, ptf. vs James M. McMillan, def. Cause coming in upon return of sheriff to order of sale. No objections made or filed. Sale confirmed. Deed ordered and writ of assistance to issue upon request. Heelan, atty. for ptf. Law: Midwest Life Ins. Co. by Legett. Cause coming in for confirmation. No objection made or filed. Sale confirmed and deed ordered. N. T. Gadd, atty. Henry Obendorfer ptf. vs James M. McMillan, et al defs. Involved in bankruptcy case in Colorado. Sullivan, Squires & Johnson, attys. for ptf. Evans & Evans attys. for defs. Equity: Edward L. Cline ptf. vs John J. Hanks et al defs. Cause coming in upon return of Sheriff to order of sale. No objections made to confirmation. Sale confirmed and deed ordered. Writ of possession to issue on request. T. R. P. Stocker and A. G. Humphrey, attys for ptf. Equity: Elizabeth M. Croft Ptf. vs Lawrence H. Campau et al defs. Cause coming on for confirmation. No objections made. Sale confirmed. Deed to issue and writ of assistance to issue Feb. 1, 1925. If not vacated prior thereto, ptf agrees to accept redemption any time up to Feb. 1925 and reconvey. Evans & Evans attys. for ptf. Sullivan, Squires & Johnson attys for def. Equity: Chester C. Rattliff ptf. vs Bert L. Cook and Citizens State Bank def. Case dismissed without prejudice. N. T. Gadd and S. L. O'Brien attys. for ptf. Equity: John N. Neely ptf. vs Wm Kay def. Cause coming in for confirmation. No objections. Sale confirmed. Deed ordered. Writ of assistance to issue. Evans & Evans and Sullivan, Squires & Johnson attys. for Ptf. Equity: The Oakdale Bank, Oakdale, Nebr., Ptf. vs Chas. J. Jackson et al def. Cause coming in upon sheriff's return to order of sale. No objections made or filed. Sale therefore confirmed and deed ordered. Writ of assistance to issue to sheriff. Evans & Evans attys. for ptf. Equity: Security State Bank ptf. vs Hiland B. N——? et al def. Pending sale. N. T. Gadd atty for ptf. Equity: The First Trust Co., Lincoln ptf. vs Lillian Stonebarger def. Cause coming on upon sheriff's return to the order of sale. No objections made or filed. Therefore the sale is confirmed and deed ordered. Writ of assistance to issue. Evans & Evans attys for ptf. Equity: Security State Bank of Omaha ptf. Ray S. Kayton et al defs. Pending sale. N. T. Gadd atty. for ptf. Equity: Nebraska Central Building & Loan Association ptf. vs Jas. A. Weaver et al def. Settled and pending payments will be dismissed. Evans & Evans attys. for Ptf. Law: Ambrose Wiggins ptf. vs Elmer Hansen et al def. Dismissed with prejudice. Evans & Evans atty for ptf. Benj. J. Cunningham atty for def. Law: Aetna Casualty & Surety Co. ptf. vs Citizens State Bank and Thomas Co. defs. Ready for trial to jury. Clarence A. Davis atty. for def. Equity: Nebraska Central Bldg. & Loan Association ptf. vs Clair L. Inman et al def. To be dismissed upon defendant paying costs. Evans & Evans attys for ptf. Equity: J. H. Figard ptf. vs Joseph E. Albright et al def. Ready for trial. Evans & Evans attys. for ptf. N. T. Gadd atty for def. Equity: State Bank of Elk Creek Ptf. vs Norman J. Volker et al def. Settled and dismissed. Evans & Evans attys. for ptf. John A. Gillespie ptf. vs National American Fire Insurance Co. def. Pending settlement. Kennedy, Holland, DeLacy & McLaughlin, attys. for ptf. Law: Thomas P. Hamilton et al ptf. vs Thedford Bank, Peter E. Nelson, C. C. Shaw, Security State Bank of Omaha and Walter Gibson. Leave given Receiver Thedford Bank to file answer. 20 days given plaintiff to file replies. Sullivan, Squires & Johnson attys. for ptf. T. Gadd atty. for Security State Bank. Law: Security Mutual Life Ins. Co. Ptf. vs. Harold L. Ball, def. Default of all defendants taken and entered. Trial to court. Evidence of Ivan D. Evans taken. Allegation petition found true. Amt. due plaintiff $6910.00. Interest 10 per cent. First Lien. Decree of foreclosure and sale ordered. Agreed that a stay of nine months shall be a part of this decree. Field, Ricketts & Ricketts and Evans & Evans attys for ptf. Equity: Harry C. McCann Ptf. vs. Mary E. Chittenden et al def. B. A. Darrow atty. appointed guardian ad litem for all unknown minor defendants. Trial to court. Evidence of Ivan D. Evans taken in court. Guardian ad litem allowed $5.00. Decree quieting title as


Article from Thomas County Herald-Clipper, Mullen Sandhills Stockman, July 10, 1924

Click image to open full size in new tab

Article Text

prayed. Costs taxed to ptf. Evans & Evans attys for ptf. State of Nebraska ptf. vs. Peter E. Nelson def. County attorney dismissed case in open court. Ivan D. Evans, Wm. Suhr attys. for ptf. Robt. P. Starr atty for def. The State of Nebraska ex rel O. S. Spillman Attorney General ptf vs Thedford Bank. Receiver to sell lots 15, 16, 17, Blk 13, Thedford to Gussie Palmer for $550 upon showing filed in court. O. S. Spillman atty. Gen'l. The State of Nebraska ex rel O. S. Spillman Attorney General ptf. vs Thedford Bank. Report of receiver filed and presented to court showing that $59,055.00 worth of claims duly filed by creditors are without objection on the part of the receiver. Same are allowed by the court and receiver is directed to sell 7 per cent 1 year Receiver Certificates to the amount of $47,500 and pay off each and all of said claims within three weeks hereof or to file a report showing the reason of his inability so to do three weeks from this date. All claimants whose claims have been rejected by the receiver shall be notified by the Clerk of the Court forthwith and such claimants will have 30 days from this date to file petitions. Receivers 20 days thereafter to file answer and claimants 10 days thereafter for reply. O. S. Spillman, Atty. General. Mechanics Lien: Doyle & McMillan vs Geo. M. Russell et al. Default of all defendants taken and entered. Trial to court. Evidence of James M. McMillan taken. Allegations found true. Amount due plaintiff $155.32. First lien on suit. Int. 7 percent. Decree of foreclosure and sale ordered. Evans & Evans attys. Foreclosure: John C. Wharton ptf. vs Peter E. Nelson et al. Upon showing of death of plaintiff said action is hereby revived conditionally in 30 days in name Gerald A. Wharton and Glen C. Wharton executors of late will and testament of John C. Wharton ptf. Evans & Evans attys. for ptf. John A. Gillespie vs Burton Wroughton et al. Upon affidavit and motion in open court service by publication duly ordered. B. A. Darrow atty. L. O. Morris vs Thomas County. Demurred, withdrawn. Trial had. Evidence J. J. Heelan. Amt. due $301.06. Int. 7 per cent. Judgement accordingly. J. J. Heelan aty. Muligan — Neumeyer—Upon motion and affidavit service by publication duly ordered.


Article from Evening World-Herald, December 6, 1924

Click image to open full size in new tab

Article Text

PRESENT 100 PRIZES AT DOG SHOW TONIGHT Miss Emma Hoagland, reigning queen of Ak-Sar-Ben will present prizes to winners at the dog show at the Auditorium at 7:30 tonight. Lawrence Shaw will be announcer. The trophies, more than 1 hundred of them, are offered by the Publicity Bureau of the Chamber of Commerce. Holds Thedford Bank Correspondence County Attorney Beal yesterday refused to surrender correspondence regarding operations of the Thedford State bank to be used by Van E. Peterson, bank receiver, in a suit against the state guaranty fund commission. Beal is holding the correspondence for use in the prosecution of Ivan Evans, Thomas county attorney, who is awaiting trial on a charge of accepting a bribe.


Article from Lincoln Journal Star, February 16, 1926

Click image to open full size in new tab

Article Text

TESTS OUT BANK TAXES RECEIVER INSISTS GUARANTY FUND NOT LIABLE. Takes Position That Stockholders and Not the Bank Itself Must Make Good Pub- Debts. case testing the guaranty fund liable the unpaid taxes of failed state banks when they go into its hands was argued and submitted to preme court Tuesday. The case comes from Thomas county, where the board secured judgment from the district court for and unpaid when the Thedford bank which Peter Nelson was president went under. of the attorneys the state is that taxes against bank are on the stock, and, therefore, the shareholders pay the taxes the bank itself cannot do The supreme times held bank that taxed shares stock, upon this holding that the guaranty fund claims the county the real persons taxed, the The guaranty fund was pellant case, involving bank judgment claim that build barn on ranch and paid him by entering credit for $450 book. actual money went the bank, says the and nence the fund liable for the payment the barn was way Nelson of paying for done his benefit, the bank received nothing for the credit, was the guar anty fund should not pay.


Article from Lincoln Journal Star, February 16, 1926

Click image to open full size in new tab

Article Text

TESTS OUT BANK TAXES RECEIVER INSISTS GUARANTY FUND NOT LIABLE. Takes Position That Stockholders and Not the Bank Itself Must Make Good Public Debts. case testing the guaranty fund liable for the unpaid of failed state banks when they go into its hands argued and submitted the preme court Tuesday. The case comes from Thomas county, the board judgment from the district court for taxes unpaid when the Thedford bank which Peter Nelson went under. The of the attorneys the state that taxes against bank are taxes the shares stock, and, therefore, the shareholders must pay the taxes the bank cannot do The supreme court times held that the bank itselt that but the shares stock, it upon holding that the guaranty fund claims that it liable, that the county must look to the real persons taxed, the shareholders. The guaranty fund was also pellant another case, involving bank where Kirkhad secured judgment for claim made that made contract with Kirkman build barn on his ranch paid him by entering credit $450 his book. No actual pass money went into the bank, says the receiver, and nence the fund liable for the the payment of barn building cost. was simply Nelson adopted paying for work done for his benefit, the bank received nothing for the credit, the anty fund should not


Article from Neligh Leader, February 19, 1926

Click image to open full size in new tab

Article Text

TESTS OUT BANK TAXES Receiver Insists Guaranty Fund is Not Liable. Feb out whether the gudranty fund As for the unpaid taxes of failed banks when they go into Its hands argued and submitted to the preme court Tuesday The case from Thomas county where secured a judgment from the district court for $104 94 taxes due and unpaid when the Thedford bank of which Peter E. Nelson was pres. Ident went under The contention of the attorneys for the state is that taxes against bank for taxes on the shares of stock, and therefore the shareholders must pay the taxes if the bank Itself cannot so The supreme court has several times held that It is not the bank Itself that is taxed shares stock, and It is upon this hold Ing that the guaranty fund claims It is not liable, but that the county must look to the real persons taxed, the The guaranty fund was also appellant in another case, involving the same bank where C. F. Kirkman


Article from Lincoln Journal Star, November 12, 1926

Click image to open full size in new tab

Article Text

BRINGS SUIT BOND THEDFORD BANK RECEIVER BEGINS COURT ACTION. Fidelity and Deposit Company of Maryland Asked to Pay $3,000 Cashier's Thedford State Thedford, Neb., suit the district court Friday morning against the Fideland Deposit company of land for $3,000. The plaintiff leges that Rathsack, cashier the bank, and wilfully funds the and that the Fidelity and Deposit is liable for bond for Mr. Rathsack. between Nov. 10, 1921 January that Rathsack this amount money his use and mitted that sack on 1922, permitted forged note Jennie Higgins the tered in records of the bank and that he son, officer of the bank, given credit in his count $844.32, which Nelson withdrew and Rathsack credited his own account with $819.31 out the forged note Jehnie gins, for which was given credit. is also alleged that the note removed part the assets of the bank, uncollected and unpaid. also claimed that Rathsack included the record of assets note for Armstrong the date March 1923 and that Rathsack paid the bank $100 and took out of the assets of the bank the note of E. Nelson for which note was given the bank for the Rathsack. claimed that this note Armstrong's was note fictitious character and that he was not known by anyone around Thedford. also claimed Rathsack made loans in that cess of the amount permitted and that on account of his conduct the bond has been breached that the bond company able.


Article from Lincoln Journal Star, November 12, 1926

Click image to open full size in new tab

Article Text

BRINGS SUIT BOND THEDFORD BANK RECEIVER BEGINS COURT ACTION. Fidelity and Deposit Company of Maryland Asked to Pay $3,000 Cashier's Surety. Peterson, of the Thedford State bank Thedford, Neb., filed suit in the district court Friday morning against the Fideland Deposit company Maryland for The plaintiff leges that Rathsack, cashier the bank, misappropriated and wilfully misapplied funds the bank amounting to and that the Fidelity and Deposit company is liable the amount bond furnished for Mr. Rathsack. Nov. 1921 January 1923 that Rathsack this money and permitted its appropriation: that Rathsack 1922, permitted forged note Jennie Higgins for the amount tered in the bank and that he permitted Nelan officer of the bank, given credit his personal count for which Nelson withdrew and Rathsack credited his own account with the forged Jennie Hig gins, for given credit. also alleged that note was as part the assets the bank, uncollected and unpaid. also claimed that Rathsack included in the record note for the date March and that Rathsack paid the bank and took out the assets the bank the note of Nelson for $1,000, which note given the bank for the Rathsack. claimed that this note Armstrong's note of fictitious character and that he was not known by anyone around Thedford. also claimed that Rathsack made loans in cess the amount permitted by and that account of his conthe bond been breached duct and that the bond company able.


Article from Star-Herald, November 13, 1926

Click image to open full size in new tab

Article Text

Bank Receiver Nov. Peterson. receiver the Thedford State bank of Thedford, today filed suit the district court against the Fidelity and Deposit company of $3,000. The plaintiff alleges that Rathsack, cashier of the bank, appropriated and misapplied funds bank amounting to $3,000 and Fidelity and Deposit company liable for the amount on bond nished for Mr. Rathsack. The cashier accused in the conduct of illegal banking.