Glasgow National Bank (Glasgow, MT)

View Charter #8655 on SPMC View balance sheet

Episode Information

Episode UID
865501512
Episode Type
Suspension → Closure
Bank Type
national
Bank ID
86550 national
Charter Number
8655
Start Date
December 29, 1925
Location
Glasgow, Montana (48.197, -106.637)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
3511052b55e359e0

Response Measures

None

Receivership Details

Depositor recovery rate
67.2%
Date receivership started
1925-12-29
Date receivership terminated
1930-07-25
OCC cause of failure
Economic conditions
Share of assets assessed as good
21.9%
Share of assets assessed as doubtful
48.0%
Share of assets assessed as worthless
30.1%

Description

Closures tied to insolvency and control by the Sheldon/Arnot group; receiver subsequently appointed and dividends paid.

Events (7)
1. April 20, 1907 Chartered
Source
historical_nic
2. December 29, 1925 Receivership
Source
historical_nic
3. December 29, 1925 Receivership
Newspaper Excerpt
H. A. Streeter, as receiver of The Glasgow National Bank (mentioned in later notices and legal actions).
Source
newspapers
4. December 29, 1925 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Board closed bank due to inability to realize on outstanding loans and general insolvency tied to Sheldon/Arnot interests.
Newspaper Excerpt
At the time of the closing of the Glasgow National bank Monday...the Glasgow National bank was established about 1907...
Source
newspapers
5. December 2, 1927 Other
Newspaper Excerpt
H. A. Streeter, receiver of the Glasgow National bank, is mailing out checks this week for a 10 per cent dividend payment to the depositors. This is the second dividend to be declared, a 20 per cent dividend having been paid in January, making a total of 30 per cent paid to date.
Source
newspapers
6. September 7, 1928 Other
Newspaper Excerpt
Receiver H. A. Streeter of the Glasgow National bank is now paying to depositors the fourth dividend to be declared since the closing of the bank.
Source
newspapers
7. July 2, 1930 Other
Newspaper Excerpt
Glasgow National Bank Depositors Get Final Dividend (receiver mailed out notices of the final dividend).
Source
newspapers

Newspaper Articles (17)
1. December 30, 1925 Great Falls Tribune Great Falls, MT
Article from Great Falls Tribune, December 30, 1925

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Article Text

BANK CLOSING TIES UP $50,000 COUNTY'S FUND Valley's Deposit in Glasgow National Is Said to Be Well Secured Special to The Tribune. Glasgow, Dec. 29.—At the time of the closing of the Glasgow National bank Monday, the county of Valley had on deposit $50,000, secured by $7,500 Valley county warrants and the personal bond of A. M. Sheldon, F. P. Sheldon of Minneapolis, J. E. Arnot and W. F. Shannon of Glasgow, for $50,000. The city of Glasgow has on deposit $2,016.43, secured by a bond of $22,500, on which J. E. Arnot, W. F. Shannon and C. E. Hoppin of Glasgow are securities. The Glasgow National bank was established about 1907 and has done a large business. It loaned large sums of money to farmers, especially when the county was being settled.

2. December 31, 1925 The Nashua Independent Nashua, MT
Article from The Nashua Independent, December 31, 1925

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Article Text

STATE BANK CLOSES ITS DOORS Monday at 1:00 P. M., the State Bank of Nashua closed its doors for an indefinite period. The reason, as far as can be learned, it was closed to stop a run on the Bank. At present it is not learned whether they will reopen or not. A receiver is expected almost any day to take over the business. GLASGOW NATIONAL BANK CLOSES ITS DOORS HINSDALE BANK CLOSES ITS DOORS MALTA FIRST NATIONAL CLOSES ITS DOORS Sheldon Brothers have heavy interests in these banks The Glasgow National Bank of this city voluntarily closed its doors at 11 a. m. Monday, by order of its board of directors. This bank is associated with the First National bank of Malta, the Valley County bank of Hinsdale and the State Bank of Nashua, all of which closed on account of inability to realize on their outstanding loans. The officers of the Glasgow National bank feel that a reorganization of the bank will be effected within a comaratively short time and the bank

3. January 2, 1926 The Stoughton Courier Stoughton, WI
Article from The Stoughton Courier, January 2, 1926

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Article Text

FOUR BANKS CLOSED IN MONTANA TOWNS Helena, Mont., Jan. banks in Montana, with a total capital of $185,000, have been closed in the past week, it was revealed at the state bank examincr's office here. The institutions were the State Bank of Nasau,the First National Bank of Malta, the Valley County State bank of Rinsdale and the Glasgow National Bank. They are said to be controlled by Sheldon brothers of Minneapolis.

4. January 14, 1926 Phillips County News Malta, MT
Article from Phillips County News, January 14, 1926

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THE SHELDON BROTHERS Records the Montana show that M. Sheldepartment don of Minneapolis is the pricipal of the stock in the Nashua owner State bank and the Valley County bank of Hinsdale, which closed December M. Sheldon, also recorded by the federal reserve bank of Helena as the pricipal stockholder of the First National bank at Malta and the Glasgow National bank. which closed at the same time. It has been announced that Sheldon Brothers of Minneapolis controlled these four Montana banks Advice from Sheldon Brothers is to effect that the firm has not been interested in Montana banks for years. The above taken from the Great Falls Tribune and the announcement comes surprise many if not all who were acquainted with the bank in this city which recently closed its doors. It has been noted that the annual meeting that not one ofthe brothers cam oteala Mt of he brothers came to Malta attend the meetings but both of them. Of course only one of them may be interested at this time in the banking business in Montana but most always happened that two them came here. just barepossible that they thought much of each other that they could not stand it to be separated while one was away visiting his business interests.

5. January 14, 1926 Phillips County News Malta, MT
Article from Phillips County News, January 14, 1926

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First National Bank, Apparently Insolvent, Kept Open for Business by Sheldon Brothers While They Get Under Cover Indicate That Splitup Made Several Reports a Years Ago Gave Sheldon the Money, Gave A. M. Sheldon the Debts, and Left the Depositors to Hold the Bag According to the records of the Montana A. M. Sheldon of Sheldon brothers, Minneapolis, is the principal owner of stock in the four banks of the Sheldon-Arnot combination in the Milk river valley that collapsed Monday, December 30th. Advice from Sheldon brothers conveys the information that the firm has not been Montana for several interested years. Reports from Minneapolis, traceable directly to A. M Sheldon, are to the effect that A. M Sheldon is unable to meet his obligations in the closed Montana banks. and that F. P. Sheldon is not responsible for those obligations because several years ago, he had sold out his Montana interests to A. M. Sheldon. The logical inference of all this is that "several years ago" A. M. Sheldon and F. P. Sheldon devised a split, and that F. P. Sheldon took the assets and A. M. Sheldon took the liabilities. Presumably, and to all legal intents and purposes, A. M. Sheldon, who owns the stock in the collapsed banks and whose name is attached to the bonds securing deposits in the banks, is broke, and F. P. Sheldon, who owns nothing in Montana and is liable for nothing in the collapsed banks has the money. This is the framework of the story that is now afloat for the consolation of the people who lost their money in the First National bank of Malta, the Valley County State bank of Hinsdale, the Nashua State bank and the Glasgow National bank. It now looks very much as if the two Sheldons, F. P. Sheldon A. M. Sheldon, "several years ago," deliberately set out to finish the First National bank of Malta, and it is the settled conviction of many people that that is exactly what they did do. For several years they seem to have run the Malta bank on bluff. It is said there never was a time during that two years that they could meet the demand deposits of the bank, and there was never an effort on the part of large depositor to get his money that the whining bluff was not set up that if the money was demanded the bank would have to close. In that time the county treasurer, the city officials and the depositors of the bank were patient and easy with the bank in the hope that it might eventually get in better condition. And everybody, depositors and the local officials of the bank alike, depended upon the supposed integrity of A. M. Sheldon and P.'Sheldon to use the time and opportunity to strengthen the bank's tottering foundation. It now seems A. M. Sheldon and P. Sheldon used that patience and that confidence to get under cover and to leave the depositors and stockholders of the bank high and dry. "Several years ago" F. P. Sheldon was the largest stockholder and the big bug in the Montana banks, and A. M. Sheldon had his chief interests the Imperial Elevator company. So far as the people who did business with them or their banks are concerned. however, they were considered ns equally responsible. It now develops that in that ominous "several years ago" M. Sheldon sold out his Imperial Elevator company holdings and bought from F. P. Sheldon his Montana banking liabilities for which he gave F. P. Sheldon his note! The so-called Sheldon banks continued to de business with the people none the wiser, and the credit and standing of the Montana banks was based on the financial standing of P. Sheldon as much ns on that of M. Sheldon. In that significant "several years ago" the two Sheldons formed n corporation known as The Sheldon Brothers company. and that company became and still is the harbor of safety for the personal responsibility of this foxy pair. The blunt facts of the situation seem to be that the First National bank of Malta has been insolvent "for several since the Sheldon brothers quit doing business firm tana The broad Inference forced the people by the actions of and F. Sheldon is that they knew that sooner or the bank would collapse, and the general conclusion that they were careful only to see that it. did not collapse around their own smooth heads. In view of all the stories that are told by some of the depositors of the bank about their efforts to get their money out of the bank, from a study of the published statements of the bank's condition, and from a general survey of business and banking conditions in northeastern Montana, there never were but two hopes of the First National bank continuing in business: One was that the land values on which they had most of their loans would enhance and a ready market be created for them SO they might become readily negotiable. A. M. Sheldon and F. P. Sheldon were too shrewd business men and too not to know that this was a forlorn hope. The other, and that was the delusion the depositors in the bank were brought under, was that Sheldon brothers would stand back of the bank, even in its extremity, and that proved to be only a broken stick were leaning on. In other words, it seems that if the First National bank had closed "several years ago," when it probably should have closed, F. P. Sheldon would have had to bear some of the burden of its losses, but in that several years, while the bank's condition was not improving, A. M. and F. P. Sheldon devised the nice little scheme by which M. Sheldon went legally broke, Sheldon kept the money in the family, and the innocent people who had their money tied up in the bank were left holding the bag. Up the First National bank did business in Malta, there was just one excuse for its remaining open, and that was that J. E. Arnot of Glasgow and A. M. Sheldon and F. P. Sheldon of Minneapolis would come to its rescue. A marvel to many business men and bankers is how the First National bank of Malta has gotten by the bank examiner for these past two years. The most plausible excuse is that the banking department labored under the same deception as the depositors and believed that Sheldon brothers would straighten out the bank's tangled affairs. It is apparent that the bank had no realizable assets that were not pledged. During the last few days of the bank's existence one depositor got $500.00 in currency out of the bank and he was told that the bank had just $88.00 left in the till with which to do business. Apparently the bank had nowhere to look for cash in any sum except to the Sheldons and Arnot. To keep any bank open and accept deposits under such weakened condition could be excused only by a perfect confidence that the Integrity of the men at its head could be depended upon to furnish the money to hold it together. The stories that are told about the county treasurer starting a run on the bank seem to be pure unadulaterated poppycock. The county had $50,000.00 on deposit in the bank. It was subject to check. It was larger sum than was carried in efther of the other two Malta banks. The county treasurer was under the necessity of cutting the deposit down to equalize It with the other banks. Checks were written by the treasurer in the regular course of business, and when the first one cleared the bank the treasurer was informed that the bank could not stand it. The action did not in any wise affect the condition of the bank, It was only the occasion of proving that the bank was absolutely unable to meet, its demands. The very argument offered by the bank that it was not notified by the county treasurer that the county would begin checking against its deposits in plain confession that the bank had no money and no reserve to amount to anything. because the county's account was checking one and was supposed to be used. Neither of the other Malta banks required notice. and on the 18th day of December treasurer wrote checks totaling on one of the other Malta without notice, and the bank no grievance. There was no run on the bank. There have been run on It. The first two or three depositors to have at the bank run would appeared Here Is the Fast Malta High Basketball Quinteț Which Gave the "Terrible Swedes" Battle Royal Tuesday a In one of the fastest high school games ever seen on the local floor, the Malta team went down to defeat before the Harlem aggregation Tuesday night by a score of 18 to 30. Even though defented, the Multa boys played one of the best games of their career, time after time bringing the large erowd to their feet with their splendid floor work. The Malta team had the ball in their possession about sixty per cent of the time and took fully twice as many chances at the basket as the Harlem players. By the law of averages the game should have gone to Malta. Shooting is perhaps the main weakness of Malta. Their team work is fully as good as Harlem and their taking the ball through five man defense is perhaps better than that of any team in this section of the state. Time after time the Malta boys broke through the defense of their opponents only to miss comparatively easy shot at the basket. The game started with rush and the Harlem players made two baskets in quick succession. The Malta team then did some fine basket shooting and made ten points without allowing Harlem to score any more that quarter. Harlem was a little more accurate in shooting in the second quarter and the half ended with the score 16 to 12 in their favor. In the second half Malta made six points while Harlem made fourteen. The players for Malta were: Johnson, center; Edwards, forward; Costello, forward: Koon, guard and Watson, guard. In the beginning of the second quarter Verzatt went in at forward. Costello was sent to guard and Watson taken out. Watson is developing into one of the star guards of this section of the state but because of inexperience was held as substitute the last three quarters. He a heavy, powerful guard and will be a hard man to keep off of the team as regular. As whole, the Malta team is very fast and as soon as they develop their shooting, will give a good account of themselves against any high school team of the state.

6. January 14, 1926 Phillips County News Malta, MT
Article from Phillips County News, January 14, 1926

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SCOBEY SENTINEL BROKE THE BANK The Scobey Sentinel recently printed the story given below in explanation of the closing of the SheldonArnot banks December 28th. We give the answer to it first There is not a scintilla of truth in it. first place, Phillips county did not have $75,000.00 in The First National bank to draw out. In the second place, The First Na tional bank didn't have much more than $75.00 with which to pay the money Phillips county did have in the bank, according to the best local information available. In the third place, the father of the county treasurer has been dead for a number of years, and the idea that the county treasurer started a run on the bank because the bank foreclosed on his father is therefore the reductio absurdum. In the fourth place, SO far as the records show, no sort of foreclosure proceedings had anything to do with the closing of the bank. In the fifth place, there was no run on the bank. because every depositor who had any considerable sum in the bank knew its weakness and was there fore afraid for its own sake, if for no other, to start run, and, because further, that he was probably told by the bank officials that if he insisted on having his money the bank would have to close. This was certainly true of the City of Malta, which had $7,000.00 on deposit there, and of Phillips county, which had approximately $50,000.00. In the sixth place, and in all the other places, the article is untrue because nobody in Malta was really sur prised at the bank's closing, and most people had wondered for two years how it ever managed to stay open. Read the brilliant story in the Scobey Sentinel and laugh: REPORTS SAY BANKS GOOD "Although conceded to be perfectMy solvent, three banks in Valley county and one bank in Phillips county closed their doors Tuesday and Wednesday in threatened runs. These are the Glasgow National Bank: the First Natlonal Bank of Malta: The State Bank of Nashua and the Valley County bank of Hinsdale, Malta being in Phillips county and the others in Valley county. "The banks included in this closing part of string of banks owned by the Sheldon Bros. of Minneapolis and E. Arnot, the latter being president of the "The Malta bank was the first one to close its doors, the action being voluntary one. It is alleged that the bank of Malta foreclosed on some propowned. local party in that city. That party's son according to a report in circulation here, Is the county treasurer of Phillips county. He Is said to have withdrawn $75,000 of county deposits from the Malta bank following the foreclosure procéedings, and when this became noised around among the people it started a run on the bank. In order to sufe guard the interests of the depositors Mr. Arnot closed the bank. The state of affairs in Malta had in the meantime become known in Glasgow, and a run started there and insted an hour before the bank at that place was also closed. and in anticipation of runs on their banks Mr. Arnot called the bank at Nsahun and Hinsdale on the phone and had the doors closed until the examiner could have chance to go over their affairs and see how they "These banks have always been known as strong financial institutions and were wholly solvent during the days when good banks were actually failing. It is certain that as soon ns the examiners complete their work and report will that the banks are solvent, they be re-opened again. The loss of the deposits from the county would not have been noticed had it not been accompanied by a Panic among Multa depositors, circumstance that would break the strongest bank unless checked. "We have been at some pains to verithe details of this story and do not want anyone to feel that we are trying to belittle anyone's character. If the reports coming in are true, It would seem that Phillips county needs new as It serious thing to shake the solvency of a because It may mean the of ruin demany

7. January 22, 1926 Glasgow Times Glasgow, MT
Article from Glasgow Times, January 22, 1926

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THE GLASGOW TIMES A Republican Newspaper Succeeding The Glasgow Democrat. Entered as second-class matter August 13, 1913, at the postoffice at Glasgow, Mont., under Act of March 3, 1879. The Glasgow Democrat established June 26, 1913. The Glasgow Times established March 6, 1925. Published every Friday at 517 Front St Glasgow, Mont., By GORDON VALLANDIGHAM Subscription, $2.00 the Year, Payable in Advance. THE SHELL GAME OF THE SHELDON BROTHERS The information given to the Montana banking department by A. M. Sheldon of Minneapolis that he alone holds the interests that until "several years ago" were held jointly by himself and his brother, F. P. Sheldon, under the firm name of Sheldon Brothers, in the three Valley county banks and one in Phillips county which closed their doors on December 28, last, has brought severe condemnation upon them from the newspapers of Malta, to which their are justly entitled if the charges brought against them are borne out in fact. Reports from Minneapolis, traceable, it is said, directly to A. M. Sheldon, are to the effect that he is unable to meet his obligations in the closed Montana banks, and that F. P. Sheldon is not responsible for those obligations because several years ago he had sold out his Montana interests to A. M. Sheldon. The logical inference of all this, declares the Phillips County News, "is that 'several years ago' A. M. Sheldon and F. P. Sheldon devised a split, and that F. P. Sheldon took the assets and A. M. Sheldon took the liabilities Presumably, and to all legal intents and purposes, A. M. Sheldon, who owns the stock in the collapsed banks and whose name is attached to the bonds securing deposits in the banks, is broke, and F. P. Sheldon, who owns nothing in Montana, and is liable for nothing in the collapsed banks, has the money. "This is the framework of the story that is now afloat for the consolation of the people who lost their money in the First National bank of Malta, the Valley County State bank of Hinsdale, the Nashua State bank, and the Glasgow National bank. It now looks very much as if the two Sheldons, F. P. Sheldon and A. M. Sheldon, 'several years ago' deliberately set out to finish the First National bank of Malta, and it is the settled conviction of many people that that is exactly what they did do. "In that significant 'several years ago' the two Sheldons formed a corporation known as The Sheldon Brothers company, and that company became and still is the harbor of safety for the personal responsibility of this foxy pair. "The broad inference forced on the people by the actions of A. M. and F. P. Sheldon is that they knew that sooner or later the bank would collapse, and the general conclusion is that they were careful only to see that it did not collapse around their own smooth heads." In simple language, they devised a nice little scheme by which "A. M. Sheldon went legally broke, F. P. Sheldon kept the money in the family, and the innocent people who had their money tied up in the bank were left holding the bag." The Malta Enterprise notes that not just one, but both brothers, came from Minneapolis to attend the an- nual meetings of the Malta bank. "Of course," says the Enterprise, "only one of them may be interested at this time in the banking business in Montana, but it most always happened that two of them came here. It is just barely possible that they thought so much of each other that they could not stand it to be separated while one was away visiting his business interests." Both newpapers also take occasion to correct a number of erroneous ideas that have been circulated concerning the bank at Malta after its closing. The most persistent of these rumors was that there had been a run on the bank just prior to its closing and that the treasurer of Phillips county had forced the run by withdrawing a $75,000 deposit of county funds. The Scobey Sentinel was one paper which made the assertion, stating that it had "gone to some pains to verify the details of this story and do not want anyone to feel that we are trying to belittle anyone's character." As a matter of fact, says the Malta Enterprise, "the county had but $48,960.58 on deposit with the First National bank at the time it closed. As for a run on the bank, it was far from that. Some few depositors dropped in and withdrew their money while others were unable to withdraw what they had in the bank. Those in charge of the bank in this citywere confident up until Sunday night that the money would be forthcoming from those who were supposed to own the institution to keep it open." The Scobey Sentinel's account that the closing of the Malta bank was forced by the county. treasurer, who withdrew the county funds because of foreclosure proceedings brought by the bank against property of the treasurer's father, bears "not"a scintilla of truth" according to the Phillips County News, which disposes of this assertion with the statement that "the father of the county treasurer has been dead for a number of years, and the idea that the county treasurer started'a run on the bank because the bank foreclosed on his father is therefore the reductio ad absurdum. So far as the records show, no sort of foreclosure proceedings had anything to do with the closing of the bank." Tests at a Swedish university show that the effects of poison are less severe when the subject thinks it is harmless. This may explain some folks' immunity from moonshine. "France Chilled by 60-Degree Drop." It happened to be the mercury, however, and not the franc. Oh, Dear!-Trim waists for men have been decreed by clothing designers in convention at Cincinnati 000

8. May 6, 1926 Phillips County News Malta, MT
Article from Phillips County News, May 6, 1926

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VALLEY COUNTY AUTHORITIES WILL FORCE SHANNON OF GLASGOW INTO BANKRUPTCY ON BOND DEAL Company Beginning Today the entrance of the Montana Power into Malta became company an accomplished fact when the lines of the company were hooked up with the City Light company's distribution system ready for service. Tests were made Tuesday and all necessary adjustments were then made ready for hooking up today. The City Light company will read all meters now for final checking then formal transfer will be made to the Montana Power company. The power company's lower rates become effective on next month's bills. and that time the electricity users will begin to on the savings that have been anticipated for year since were started the company Malta. The power company has not yet announced who its local manager will be nor have they located city office building. It understood. however. that they will do this in the next few days. Alleging that William Shannon, proprietor of the Hotel Shannon Glasgow, and director of the insolGlasgow National has has failed and refused to reimburse Valley county the of city Glasgow on indemnity bonds which he signed to insure deposits, creditors Tuesday petitioned in the Great Falls federal court that he be adjudged an involuntary bankrupt. Judge Charles N. Pray signed temporary injunction to halt litigation in the state courts pending the outcome of the bankruptcy matter and to prevent any action with reference to the Shannon property. The petitioners are Valley county; Truscott, as treasurer of Valley county: city of Glasgow Mitchell treasurer of the city of Glasgow, and H. Streeter, as receiver of the Glasgow National bank. After citing that Shannon, along with other officers and directors of the bank. made himself liable for the payment of the county and city deposits, the petition alleges that on January 1926, five days after the bank closed, Shannon and his wife. Lelia Shannon, gave to Thomas Shannon mortgage real estate at Glasgow for purported loan of $12,500 and mortgage a quarter section of land in Valley county to cover purported loan of $3,000. and on the same date, the petition alleges. he executed and delivered to Lelia Shannon warranty leed to this property. Subsequently. Valley county levied an attachment against the property. The indemnity bond to protect the deposits in the bank was signed Shannon and three others in the following amounts: M. Sheldon, $50,000: Arnot. $50,000: and W. F. Shannon, $15,000. all of whom the petition leges, have failed to indemnify the county for the which the county due. The bond was for the amount of $120,000. The city bond was for $22.300. of which Arnot pledged $10,000, Shannon. and Hoppin $5,000. In this instance alleged that no indemnity has been paid and that the has due from the bank $2,010.43. Bankruptcy proceedings against Arnot are also being prosecuted by the Valley county authorities

9. July 22, 1927 Glasgow Times Glasgow, MT
Article from Glasgow Times, July 22, 1927

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Subscription, $2.00 the Year, Payable in Advance. BETTER FILMS FOR THE SMALL THEATRE Patrons of the smaller moving picture theatres throughout the country will heartily applaud the decision of the Federal Trade Commission which will prohibit the Famous Players Lasky Corporation from further hindering competition in the marketing of motion pictures produced by them and by companies they control. The effect of the decision should make for better business for the theatre owner and better films for theatre patrons. Few persons whose complaints have been raised against the type or quality of pictures shown in many theatres-particularly small-town theatres-have realized the handicap under which the managers of these theatres have been operating. The Famous Players Lasky Corporation practically controls the movie industry and the theatres that are free from its influence are comparatively few. Briefly stated, the commission's order prohibits the corporation, and its directing geniuses, Adolph Zukor and Jesse L. Lasky: 1. From continuing a conspiracy among themselves or with other persons to restrain trade in interstate and foreign commerce in the production, distribution and exhibition of motion picture films. 2. From the practice of block booking such as leasing films in a block or group, and compelling the picture house which shows the films to take all pictures in the block or none at all The block booking decree of the commission probably is the most far reaching. It will necessitate the cancellation of hundreds of contracts and will make it possible for theatres not owned by the producers or their associates to exhibit films which heretofore have been denied them. It is said that Famous Players and those who are at its head are heavily interested in financing the various sub-organizations through which bookings are made. The commission's ruling is 80 drawn that no distributing agency of the corporation can evade it. Although there has been no complaint of booking tangles from any theatres directly or indirectly subject to Famous Players control, the order is significant in that it will give the smaller theatres and, in many instances, theatres of the better class, the opportunity to buy one picture from the company without obligating themselves to take any other films the company turns out. One effect of the order, according to those acquainted with the motion picture distributing system, will be the ultimate betterment of all classes of films. The trouble with these books on etiquette is that they never tell you whether an artichoke should be eaten or worn as a buttonhole bouquet. THE LIFE OF AN AUTOMOBILE How long should your automobile last? Some of the old timers will say that when they bought an old rashioned "carryall" or "democrat wagon," and hitchea It up behind patient old Dobbin, they expected it to last a life-time. And the plodding old nag, it treated like a good star boarder, might still be going rather strong after 25 years. Why doesn't the automobile last that long? Professor Griffin of the University of Michigan reports the results of a recent survey of the life of automobiles. He finds that the average car lasts 7.04 years. Seventy-five per cent of them will still be running after 4.75 years, 50 per cent will be running after 6.94 years, and 25 per cent after 9.2 years. As many owners-change their cars almost as often as their hats, some persons may be surprised that one-fourth of them are still running merrily along after celebrating their ninth birthday. There comes a time in the career of the old "bus" when it still has a good many miles left in it, but it needs 80 much doctoring that the average owner may feel these repairs would not pay. Yet the fellow with a knack for home nursing of such venerable specimens will be able to rejuvenate its rheumatic members, that it will go its way rejoicing for many a day to come. It is a pleasant sight to see some of these cheerful veterans of the road come down the street, wheezing a bit perhaps, but knocking out many miles still. In this joy-riding time, such a car can not be expected to reach the serene old age of grandfather's family carriage. If the road in those days was rough, old Dobbin slowed down and the ancient chariot suffered little harm. But in our jazzy days we whip up our modern beast of burden with more gas, and if his joints are feeble, they shake still looser as he hits the high spots. the purchaser of said property shall of have the immediate possession said premises and the rents, issues and profits thereof. Witness my hand and the seal of said Court this 20th day of July, 1927. J. B. CHRISTOPHERSON, Clerk. (Court Seal) By E. L. SPLAN, Deputy Clerk. J. O. Weaver, Attorney for the (Pub:J1.22,29,Au.5,12.) Plaintiff SUMMONS FOR PUBLICATION In the District Court of the Seventeenth Judicial District of the State of Montana, in and for the County of Valley. John M. Schoen, Plaintiff, Florence Wagner Fast, formerly Florence Wagner Baker, and John Fast, her husband, The Glasgow National Bank, corporation; H. A. Streeter, as Receiver of The Glasgow National Bank, a corporation; Harry L Woodley; G. Johnson; and Lewis Wedum Co., corporation, Defendants. The State of Montana sends Greet ing, to the above named defendants, and to each of them: You are hereby summoned to an swer the complaint in this action, which is filed in the office of the Clerk of this Court, a copy of which is herewith served upon you in the County wherein you reside, and to file your answer, and serve a copy thereof upon plaintiff's attorney within twenty days after service of this summons, and in case of your failure to appear or anwer judgment will be taken against you by default for the relief demanded in the complaint. This action is brought for the purpose of foreçlosing a certain real estate mortgage executed, acknowledged and delivered By defendants Florence Fast and John Fast, to and in favor of The Glasgow National Bank, which mortgage is now owned by the above named plaintiff, and is in the principal sum of Twelve Hundred Dollars ($1200.00) dated February 23rd, 1916, and is a mortgage upon Lots One (1) and Two (2), the South Half of the Northeast Quarter (/NE%) of Section Six (6), Township Twenty-nine (29), and the Southeast Quarter (SE%) of Section Thirty-one (31) Township Thirty (30) North of Range Forty (40) East of the Montana Meridian; and to recover all amounts due under said mortgage, including past due interest, taxes, cost of abstract of title, attorney's fees, and costs of this action. hand the seal of Witness my day of May, A. this Court this 19th D. 1927. J. B. CHRISTOPHERSON, Clerk of the District Court. (Court Seal) First publication, July 8, 1927. Second publication, July 15, 1927. Third publication, July 22, 1927. Fourth publication, July 29, 1927.

10. July 22, 1927 Glasgow Times Glasgow, MT
Article from Glasgow Times, July 22, 1927

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Happenings Near Home Ship North Country Wool.-A. T. Olson, manager of the North Country Wool Pool, has begun shipment of 13,000 fleeces from Opheim, Richland and Peerless to a Boston wool firm, represented by B. P. Langen of Glasgow. Visitor from Germany.-Mr and Mrs. Quast of Glentana have had as their guest, Mrs. Quast's cousin, Paul J. Giese of Hamburg, Germany, who is en route to Seattle to go into the exporting business. He has been at Columbia university for the last year preparing for his work. Mr. Geise attended the rodeo at Glasgow and was interested in the exhibition which he says was entirely different from anything he had ever seen. America appears to him to be a land of unlimited opportunity. Back from North Dakota.-Mr. and Mrs. J. J. Baker and son of Lustre, accompanied by a daughter, Mrs. Richard Nyquist of Froid, have returned from a visit at their old home in Munich, N. D. Mr. Baker says: "Montana for me. I wouldn't want to farm my old home place now." NOTICE OF SHERIFF'S SALE In the District Court of the Seventeenth Judicial District of the State of Montana, in and for the County of Valley. The Minnesota Loan & Trust Co., a corporation, Plaintiff, Robert Bogle; Grace Bogle, his wife; State Bank of Nashua, Montana, a corporation; James T. Shea, Receiver of State Bank of Nashua, Montana; First National Bank of Minneapolis, Minnesota, a corporation; Phillips County, a body politic and corporate; R. G. Monroe, successor to W. G. Schneider, City Treasurer of the City of Malta; The City of Malta, Montana, a corporation; Farmers Lumber Company, a corporation; H. A. Streeter, receiver of the Glasgow National Bank, Defendants. To be sold at Sheriff's sale at the in front door of the Courthouse Glasgow, Montana, July 28th, A D. 1927, at the hour of two (2) o'clock p. m., the following described real property; to-wit: Southeast quarter (SE%) tion three (3); and the West half of the Southwest quarter (W 1/2 SW ) of Section two (2), in Township twenty-eight (28) North, of Range forty-two (42), East Montana Meridian, containing 240 acres, more or less, according to the Government Survey thereof; together with all the hereditaments and appurtenances thereunto belonging or in anywise appertaining. Dated this 29th day of June, A. D. BEN OLSON, Sheriff. Building New Barn.- C. Lunstad of Opheim is The g TH TH I stad is constructing a new barn, 52x 72 feet, on the farm of Jorgen Isakson.

11. July 22, 1927 Glasgow Times Glasgow, MT
Article from Glasgow Times, July 22, 1927

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ALIAS SUMMONS In the District Court of the Seventeenth Judicial District of the State of Montana, in and for the County of Valley. Herbert C. Wilson, Plaintiff, Joe A. Nelson, a single man, Margaret Upton; Agricultural Credit Corporation; and the Hinsdale Agricultural Credit Corporation, a corporation, Defendants. The State of Montana, to the above named defendants, Greetings: You are hereby summoned to anfendants. swer the complaint in this action, which filed in the office of the named defendants, Greeting: Clerk of this Court, and to file your answer and serve a copy thereof upon the plaintiff's attorney within twenty days after the service of this summons, exclusive of the day of service; and in case of your failure to appear or answer, judgment will be taken against you by default for the relief demanded in the complaint. The said action is brought to foreclose a certain real estate mortgage made and executed by the defendant Joe A. Nelson, single man, to secure the payment of a certain promissory note in the sum of Two the complaint. Thousand and no-100 ($2,000.00) Dollars, mortgage being of rec ord in the office of the Clerk and Recorder of the County of Valley, State of Montana, in Book 58 of Mortgages, on page 262; also to recover interest, accrued interest, costs, and attorney's fees; that the land and premises described in said mortgage and sought to be foreclosed are situated within the County of Valley, State of Montana, and described as follows, to-wit: East half of the Northwest quarter, and the Northeast quarter of Section numbered eighteen. The West half of the Northwest quarter of Section numbered seventeen, in Township thirty-two, North of Range thirty-six, East Montana Meridian, containing 320 acres, more or less. All of which more fully appears in the plaintiff's complaint in the office of the Clerk of the above entitled Court, reference to which is hereby made. Witness my hand and the seal of said Court this 6th day of July, 1927. J. B. CHRISTOPHERSON, Clerk of the District Court. (Court Seal) Thomas Dignan, Attorney for Plaintiff, Glasgow, Montana. Here From Virginia.-Mrs. Mary Matson, son Leroy and daughter, Mrs. Albert Walters, of Viroqua, Wis., have been visiting at the John B. Lee home at Opheim. Looking After Crop.-Peter Edman of Omaha, Nebr., has been looking after his farming interests on the reservation north of Nashua. ALIAS SUMMONS In the District Court of the Seventeenth Judicial District of the State of Montana, in and for the County of Valley. Homer H. Jones, as Executor of the Will and of the Estate of Ebenezer G. Ranney, deceased, Plaintiff, Elmer F. Jacobs, Nellie Jacobs, Thelma Jacobs, Clarence H. Roberts, administrator of the estate of Florence E. Jacobs, deceased, The Glasgow National Bank, corporation, H. A. Streeter as receiver of The Glasgow National Bank, corporation, and J. P. Murphy, DeThe State of Montana to the above You are hereby summoned to answer the complaint in this action which is filed in the office of the Clerk of this Court, a copy of which is herewith served upon you, and to file your answer and serve a copy thereof upon plaintiff's attorney within twenty days after the service of this summons, exclusive of the day of service; and in case of your failure to appear or answer, judgment will be taken against you by default, for the relief demanded in This is an action to foreclose a mortgage, dated November 1st, 1917, upon the Northwest quarter of Section twenty-eight in Township twenty-nine North of Range forty East of the Montana Meridian, given by the defendant Elmer F. Jacobs and Florence E. Jacobs then his wife to The Glasgow National Bank, corporation and by it duly assigned to Ebenezer G. Ranney, which said mortgage was duly recorded in the office the Clerk and Recorder of Valley County, Montana, in Book 58 of Mortgages on page 156. Judgment is sought against the defendant, Elmer F. Jacobs for the sum of $2,000.00 with interest thereon at the rate of six per cent. per annum from November 1st, 1922; for $476.14, taxes paid, with interest thereon at rate of six per cent. per annum from September 5th, 1925, less $300.00 paid September 10th, 1926, and for further interest on $120.00 at the rate of six per cent. per annum from November 1st, 1923, 1924, 1925 and 1926; for $300.00 attorney's fee and for the costs of this action. Against all of the defendants, that the property be sold and the proceeds applied towards the costs of sale and the amount due to the plaintiff; that all of the defendants be foreclosed of all rights, title and interest in and lien upon said premises, and that

12. December 9, 1927 The Producers News Plentywood, MT
Article from The Producers News, December 9, 1927

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Second Dividend Glasgow National Bank Is Declared Glasgow, Dec. 2.-H. A. Streeter, receiver of the Glasgow National bank, is mailing out checks this week for a 10 per cent dividend payment to the depositors. This is the second dividend to be declared, a 20 per cent dividend having been paid in January, making a total of 30 per cent paid to date. Mr. Streeter advises that he expects to declare another dividend shortly after the first of the year, in which payment will be included in the receipts from the sale of the bank building, which has not as yet been completed. Mr. Streeter requests that Glasgow depositors appear at his office in the First National bank building to claim their dividend.

13. September 7, 1928 The Producers News Plentywood, MT
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GLASGOW CLOSED BANK PAYS FOURTH DIVIDEND Glasgow.-Receiver H. A. Streeter of the Glasgow National bank is now paying to depositors the fourth dividend to be declared since the closing of the bank. The dividend now being paid is ten per cent, bringing the total payment to 50 per cent paid to the creditors of this trust. Checks are now ready for delivery and payment will be made at the office of the receiver in the First National bank building.

14. July 4, 1930 The Glasgow Courier Glasgow, MT
Article from The Glasgow Courier, July 4, 1930

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Glasgow National Bank Depositors Get Final Dividend receiver for the Andrew National mailed Glasgow out notices of the final Glasgow dividend depositors in bank dividend 7.2 deposit for per total payment to brought per GRANDSTAND DAMAGED this week The wind the of the grand stand from the county fair grounds. LEAVE FOR SPOKANE Carden Mr. Delmer children. Garnet, left by Vee WashMonday Spokane, last Mr. and ington, Mrs. Carden's Mrs. sister and Mrs. McVee's mother and Mr. formerly Glasgow between and north country UNION SERVICE The Methodist Episcopal BapBaptist church Sunday at the time various awards earned in the recent and and church teachers training will vacation will give the Muskett sented the evening. address VISIT GLASGOW Frazer, rancher Miss Farmer, his sister, business visitors in Glasgow were Tuesday Carl Hanson and Mr. Mrs. Avonand Tuesday on do Mrs. Nurmi VanMr and Glasgow Tuesday on business errand KULP HAS OPERATION Kulp sons Mr and last Friday and the hospital following patient operation for appendicitis.

15. April 16, 1942 The Glasgow Courier Glasgow, MT
Article from The Glasgow Courier, April 16, 1942

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SUMMONS For Publication In The District Court of the Seventeenth Judicial District of the State of Montana, in and for the County of Valley. H. R. Bjorklund. Clerk and Recorder of Valley County, Montana, Plaintiff, vs. Dan G. Teske and Jane Teske, husband and wife, Helen Teske Heivert: John Teske and Jane Doe Teske, husband and wife, the Unknown heirs of Ben Teske, deceased. the Unknown devisees of Ben Teske, deceased, the Unknown owners of the Southeast Quarter: North Half of the Southwest Quarter Sec. Seventeen, Township Thirty-One, North Range Forty five E. M. M.: Champlin Implement & Motor Co., a corporation, H. B. Nason; John Yager and Martha Yager. husband and wife: Margaret L. Ridgeway: John W. Albers: William Ridgeway Smith and Jane Doe Smith. husband and wife: Freda Dueholm and John Doe Dueholm. wife and husband: Josephine D. (Shedd and John Doe Shedd. wife and husband: Thomas L. Harris and Jane Doe Harris, husband and wife: Louise W. Taylor and John Doe Taylor, wife and husband: Michael D. Tierney, a single man: The Unknown Heirs of Phillip O1inger, deceased: The Unknown Devisees of Phillip Olinger, deceased: The Unknown Owners of the Northeast Quarter of Section Thirty, Township Twenty-nine North Range Forty, The West Half of the Southwest Quarter, Section Seven. the West Half of the Northwest Quarter, Section eighteen Township Twenty-nine North. Range Forty-one E. M. M.: Gertrude Brann and John Doe Brann, wife and husband: Andrew Foley, Receiver of the Glasgow National Bank: Julia M. Goodhue and John Doe Goodhue, wife and husband: James H. Quinn and Hattie A. Quinn. husband and wife: Caroline Deist and John Doe Deist. wife and husband: Mary Nybakken Johnson, same person as Margot Johnson, a widow: Frank Cherney and Jane Doe Cherney, husband and wife: and all other persons claiming any interest in. and lien upon the real property hereinafter described or any part thereof. and Nora Mumford. County Treasurer of Valley County, Montana. Defendants The State of Montana to the Above Named Defendants, Greetings: You are hereby summoned to answer the complaint in this action which is filed in the office of the Clerk of this Court. a copy of which is herewith served upon you, and to file your answer and serve a copy thereof upon the plaintiff's attorney within twenty days after the service of this summons, exclusive of the day of service. and in case of your failure to appear or answer, judgment will be taken against you by default for the relief demanded in the complaint. This action is brought for the purpose of procuring a tax deed from the County Treasurer of Valley County, Montana. and quieting title to the lands and premises described as follows: SE%. N%SW4, Sec. 17, Twp. 31, N. Range, 45. E. M. M. Lots 1. 2. E%NW4. Sec. 31. Twp. 27. N. Rge. 42. E. M. M. Lots 3, 4. S%NW%, Sec. 2. Twp. 28. North Range 42. E. M. M. SW14, Sec. 33. Twp. 29, N. Rge. E. M. M. SW4 Sec. 4. Twp. 29. N. Rge. 39, E. M. M. W½ Sec. 17. Twp. 29, North, Rge. 39. E. M. M. W%SW% Sec. 22 W½NW4, Sec. 27. Twp. 29. N. Rge. 39, E. M. M. E%SW4, Sec. 30, Twp. 29, N. Rge. 39. E. M. M. S½ Sec. 18, Twp. 29. N. Rge. 41 E. Lots M. 3. M. 4. 8. 9. E½W½, Sec. 31, Twp. 29. N. Rge. 39. E. M. M. NE1/4 Sec. 13. Twp. 29. N. Rge. 40, E. M. M. W½SW4, Sec. 7. W½NW4, Sec. 18, Twp. 29. N. Rge. 41, E. M. M. Lots 1, 2. EVNW%, Sec. 18, Twp. 29, N. Rge. 40. E. M. M. Lots 3. 4. E%SW4, SE%, Sec. 18. Twp. 29 N. Rge. 40. E. M. M. NW4. Sec 29. Twp. 29, N. Rge. 42, E. M. M. Lots 3. SE%NW%. NEWSW4, SW½ NEW. Sec. 4. W%SW4, Sec. 3, Twp. 29, N. Rge. 42. E. M. M. SE% Sec. 24, Twp. 29. N. Rge. 41. E. M. M. Witness my hand and the seal of said court this 11th day of April, A. D., BLANCHE 1942. GROTJAN, CLERK Thomas Dignan, Jr. Attorney for the Plaintiff Hassow Montana

16. April 30, 1942 The Glasgow Courier Glasgow, MT
Article from The Glasgow Courier, April 30, 1942

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Dueholm and John Doe D. wife and husband: Josephine wife Shedd and John Doe Shedd. Harris and husband; Thomas L. and Jane Doe Harris, husband and wife; Louise W. Taylor and John Doe Taylor. wife and husband: man; Michael D. Tierney, a single 01The Unknown Heirs of Phillip Dedeceased: The Unknown inger, of Phillip Olinger, deceased: The visees Unknown Owners of the Northeast Quarter of Section Thirty, TownTwenty-nine North Range Forty, ship West Half of the Southwest West Quarter, The Section Seven, the SecHalf of the Northwest Quarter, tion eighteen Township Twenty-nine M.; North, Range Forty-one E. M. Gertrude Brann and John Doe Brann, wife and husband: Andrew Foley, Receiver of the Glasgow National John Bank: Julia M. Goodhue and Doe Goodhue, wife and husband; H. Quinn and Hattie A. Quinn, husband James and wife: Caroline Deist and John Doe Deist. wife and husband: Mary Nybakken Johnson, a person as Margot Johnson, Jane widow: same Frank Cherney and and Doe Cherney. husband and wife; all other persons claiming real any interest in. and lien upon the hereinafter described or any property thereof. and Nora Mumford, part County Treasurer of Valley County, Montana. Defendants The State of Montana to the Above Named Defendants, Greetings: are hereby summoned to answer is You complaint in this action which this filed the in the office of the Clerk of Court, a copy of which is herewith ansserved upon you, and to file your the and serve a copy thereof upon wer attorney within twenty days after clusive plaintiff's the of of service the day failure of of this service, to summons, appear and ex- or in case judgment your will be taken against answer, you by default for the relief demanded in the complaint. This action is brought for the purof procuring a tax deed County, from pose County Treasurer of Valley lands Montana, the and quieting title to the and premises described as follows: SE%. N½SW4, Sec. 17, Twp. 31, N. Range, 45. E. M. M. Lots 1. 2. Sec. 31, Twp. 27. N. Rge. 42. E. M. M. Lots 3, 4, S½NW4, Sec. 2. Twp. 28, North Range 42. E. M. M. SW½, Sec. 33, Twp. 29, N. Rge. E. M. M. SW½, Sec. 4, Twp. 29, N. Rge. 39, E. M. M. W½ Sec. 17. Twp. 29, North, Rge. 39. E. M. M. W/SW½ Sec. 22. W%NW4, M. Sec. 27. Twp. 29, N. Rge. 39. E. M. E½SW4, Sec. 30, Twp. 29, N. Rge. 39. E. M. M. S½ Sec. 18, Twp. 29, N. Rge. 41 E. M. M. Lots 3. 4. 8. 9. E½W½, Sec. 31, Twp. 29. N. Rge. 39, E. M. M. NEW Sec. 13. Twp. 29, N. Rge. 40, M. M. W½SW4, Sec. 7. W½NW4, M. Sec. E. 18. Twp. 29. N. Rge. 41. E. M. 29, Lots 1, 2. EVNW4, Sec. 18, Twp. N. Rge. 40, E. M. M. Lots 3, 4. E%SW4, SE%, Sec. 18, Twp. 29 N. Rge. 40, E. M. M. NW½, See 29, Twp. 29, N. Rge. 42, E. M. M. 3, SE%NW%. NEWSW4. SW½ 29, NE4. Lots Sec. 4. W½SW₄, Sec. 3, Twp. N. Rge. 42. E. M. M. SE½, Sec. 24, Twp. 29, N. Rge. 41, E. M. M. Witness my hand and the seal of said court this 11th day of April, A. D., BLANCHE 1942. GROTJAN, CLERK Thomas Dignan, Jr. Attorney for the Plaintiff Glasgow, Montana (April 16-23-20-May 7)

17. June 15, 1945 The Glasgow Courier Glasgow, MT
Article from The Glasgow Courier, June 15, 1945

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FIRST ALIAS SUMMONS In the District Court of the Seventeenth Judicial District of the State of Montana, In and For the County of Valley. Fred Cain and Valley County, Montana, a body politic and corporate, Plaintiffs. -VSThe Glasgow National Bank. a Corporation and Andrew Foley. Receiver of said The Glasgow National Bank, a Corporation: J. P. Sternhagen and H. L. Osterberg, Gertrude M. Carlaw: and all persons unknown. claiming or who might claim. any right. title, estate or interest in. or lien or incumbrance upon, the real property described in the complaint, or any thereof, adverse to plaintiffs' ownership, or any cloud upon plaintiffs' title thereto. whether such claim or possible claim be present or contingent, including any claim or possible claim of dower, inchoate or accrued. Defendants. The state of Montana to the above named Defendant You are hereby summoned to answer the complaint in this action which is filed in the office of the Clerk of this Court. a copy of which is herewith served upon you. and to file your answer and serve a copy thereof upon the plaintiff's attorney within twenty days after the service of this summons. exclusive of the day of service: and in case of your failure to appear or answer, judgement will be taken against you by default for the relief demanded in the complaint. This action is brought for the purpose of quieting title to the land situated in Valley County, Montana, and described as follows: All of Section Thirty-one, in Township Thirty-one North, of Range Thirty-eight East