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aho State Bank of That Place Suddenly Collapses and Closes Doors. LLATERAL SAID TO BE PRACTICALLY WORTHLESS lieved That Depositors Will Lose Virtually All of Their Money. "he little city of Hailey, Idaho, col- is roughly aroused over the sudden se of the Idaho State bank of Hailey. 3 bank closed its doors Wednes - and is now in the hands of State nk Examiner G. W Cruse of Boise 3 affairs of the bank are in a tangled dition, and it will probably be a g time before they are straightened ractically all of the collateral held is the bank as security for loans assets a to be worthles, so that the the bank amount to little or nothing e total liabilities, consisting amount largely money owing to depositors, almost $500,000. rom present indications, the loss total. to depositors will be practically , failure of the bank will undoubtedcause a depression in the prosperous take amunity from which it will of e time to recover. The effects farfailure, however, will not be banks ching. as there are no other Camas busines houses involved. The by irie bank of Soldier was owned Idaho State bank, but just the before failure it was taken over by iley National bank, and is in good dition. Ill-Advised Loans Responsible. 'he failure of the bank is said to e been largely due to all ill-advised ns and investments Practically and , the Cramer, collateral securities is said were to vice-president be and hypothecated worthless. general hager of the bank, was the principal the ckholder. The investments of k consisted largely of loans to Mr. mer and his brother, who invested money in projects that at best gave V hough returns. the bank has been shaky for e time, its condition was not genIly known. Word reached Salt in Lake Sunday night that the bank was ilous condition, and J. B. Na- Cosgriff, e-president of the Continental al bank of Salt Lake, and a stockler in the Hailey National, left Salt e for Hailey. The Hailey National it to the assistance of the distressed k and helped it to keep open on nday. Advantage was taken of the t that Tuesday was primary election in Idaho, and the banks were closed that day. After the exact condi1 of the bank was learned on Tuesthe state bank examiner was sent The bank was opened on Wednesand business carried on as usual. - depositors were kept in the dark to the bank's condition, and there 75 uodn una ou : Camas Prairie Bank Saved. he result of the investigation, howr. showed that there was no pose way to save the bank, and its irs were turned over to the state k examiner. The bank was not rened on Thursday. In the meantime state bank examiner planned to e the Camas Prairie bank at Sol:. At the request of the state bank miner, J. B. Cosgriff purchased of the ** of that bank, the control ch had been held by the Idaho te bank, and the reserve of $43,000 transferred from the Idaho State the Hailey National. t the time the state bank State examiner bank
