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LIVINGSTON (Merced Co.), Jan First of Livingston, May closed its doors, appointed by Compton comptroller currency at Wash receiver the First National Delano, to take that This the work by Walles Livingston He will proceed Delano be relieved of his duties here.
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DELANO (Kern Co.), July Charles E. the First National Bank which closed doors has will dollar from the defunct institution. Schedule have been sent the comptroller of currency Wash. said, and they which they will distributed to depositors. There were 1,500 positors the bank they according to the amount they had deposited. he took charge of the bank, Walles, the First Bank liquidated many the the Wailes came here January 18th.
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BANK RECEIVER AT DELANO NAMED FOR POST IN INYO
DELANO, Aug. 20.-Friends here have received word from Charles E. Walles that he has been appointed received of the five defunct banks of Owens Valley and will proceed to Owens Valley to take up his new duties. Mr. Wailes took charge of the defunct First National Bank of De. lano early in January and after shaping the affairs of the institution so that a dividend of 50 per cent was paid he resigned his receivership and with Mrs. Wailes departed for Denver to visit their son and for business trip to St. Louis. After his visit they expected to settle down in Long Beach, but duty again calling him Mr. Wailes has responded. happenings in the county during that time and held the close attention of his audience.
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Hansen Buys Own SIX NEW PERMITS Notes From Bank Depositors of the insolvent First FOR WELLS ISSUED National Bank of Delano will receive
$2500 from $8078.92 in notes bid in by K. M. Hansen, the maker, it was revealed yesterday by approval of Judge R. B. Lambert of the application of John L. Cole, the bank receiver, for permission to sell the notes which were secured by seeond mortgage on an 80-acre holding near Delano. The first mortgage, held by another bank. is for $18,000, stated the application.
Drilling permits for six wells were obtained this week by the Midlands Oilfields Company, in a record application, made at Bakersfield office of the state mining bureau, for operatious on government lease on the west half of section 14, 28-27, west front of Kern River oil fields. The wells are to be drilled as offsets to
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Compromise of claims of the First ational Bank of Delano, against the rthorized yesterday by Judge E. W. wen in a court order approving the atition of John H. Cole, receiver hlitz was an endorser upon notes gregating $75,000 being the princion one note for $15,000 states application. Whith other directors the bank including W. R. Smith. arry Quinn. Andrew Vieux and W Allen, Schlitz had endorsed the tea in an effort to finance the failinstitution. As stockholder his tate was assessed for $13,700 by bank receiver, who agreed in insideration of payment of this aim to accept liability of the estate the $15 000 note made by the dedent and $20,000 on the endorseents. "On this liability and the liability $13,700 assessment the estate treed to pay to the bank about 45 nts on the dollar its pro rata share the assets," said Attorney Mel The other signers of the notes ade up the deficiency, stated the torney for the receiver. the heavat burden falling on Harry Quinn, oneer cattleman of the Delano disThe estate paid more than $20,000 the bank receiver. it was said.