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Temporary Receiver for Idaho Bank The acting controller of the currency, Thomas P. Kane, has appointed National Bank Examiner Fred Brown temporary receiver of the American National Bank of Caldwell, Idaho, which closed its doors by order of its directors.
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Receiver Appointed. WASHINGTON, Dec. ' 22.-Acting Comptroller of the Currency Kane today appointed National Bank Examiner Fred Brown temporary receiver of the American National bank of Caldwell, Idaho, which closed its doors by order of its directors.
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Miss Ostella Andersen, who is engaged in teaching school at Eden, Ida., returned home Friday evening for the Christmas holidays. Miss Grace Lang, domestic science teacher in the Wallowa, Ore., high school, is spending the Christmas vacation with friends here. Carlos Fisk and Earl Dickerson, students at the Oregon Agrieultural College at Corvallis, returned to Parma last week to spend the Christmas vacation. The American National bank at Caldwell passed into the hands of a receiver Monday. However, the bank has securities of sufficient value to pay its depositors S in full. Mrs. Fred H. Anderson came 1 down from Cambridge Saturday to spend the winter with her n husband, who is wintering a couple of bands of sheep near this city. ? Sigurt and Christian Andersen, e who are attending the Uni. versity of Washington at Seattle, arrived in Parma Monday to e spend the holidays with their d parents 8 The stove that lasts a lifetime r t -the genuine Round Oak. We are the exclusive agents and you can get them only from us. We will pay the freight to your station. Maxey & Schnable, Caldwell, Idaho, exclusive agents for tf the T.D. Beckwith stoves. Secretary W. B. Mitchell and Watermaster A. H. Albertson of the Farmers' Co-Operative Ditch Co., were in Boise Tuesday conferring with representatives from other large water distributors in regard to matters mutually affecting the interests of all water users in this section
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With a cash reserve of 23 per cent. and with securities of sufficient value to pay its depositors in full, the officers and directors of the American National bank in this city Monday voluntarily turned the institution over to Fred Brown, national bank examiner and temporary receiver, for liquidation. The failure OR the bank to open at the usual hour occasioned not a ripple of excitement, the depositors taking a philosophical view Of the situation, born of implicit contidence in the present officers of the bank. The total deposits of the bank Saturday were $114,000, with approximately $26,000 in cash on hand and due from other banks. The last statement to the comptroller of the currency gave the total resources as $284,754.64. Organized 1908. The bank was organized in 1908, by S. D. Simpson, who acted as cashier until October of this year when he resigned and left the city. His brother, W. G. Sim-son of Meridian, Miss., acted as president until suc_ ceeded by M. J. Devers last June. The decision to close the bank was made by the directors at 10:30 Sunday night, following a conference with other bankers regarding the advisability of settling the affairs of the institution through the Caldwell banks. It is probable that the bank would have opened as usual had not notices outlining the plan of liquidation been mailed to stockholders. These notices it was feared would have started a run which the bank would have been unable to withstand and have virtually made of the stockholders preferred creditors. Deposits on Saturday. The contidence of the officers of the bank of its ability to pay dollar for dollar is evidenced by deposits made by them on Saturday. M. J. Devers. president, at 2:50 Saturday a.ternoon. 10 minutes before the bank closed its doors for the last time deposited to his credit $1694. The firm of Jackson & Walters, at. torneys for the bank, the latter being also a director. placed to their credit $1150. Other directors are also known to have made deposits on the closing day. The officers and directors of the bank are: M. J. Devers, president; J. rl. Forbes, vice president; F. G. Hoffman, cashier, and T. A. Walters, A. W. Porter, M. L. Walker, and E. A. Bradshaw. Bank in Good Shape. President Devers, Vice President Forbes and Director Walters, when seen Monday night made the followng statement: "There is no reason for any depositor to feel alarmed over the recovery of any amount that he may have on deposit in the American National bank as the assets are ample to cover all deposit liabilities. It is also our opinion, that the bank will, in addition to paying all depositors in full, retain assets of sufficient value to pay a large per cent. to the stockholders.
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BUSINESS IS ON SOUND BASIS HERE The sound financial condition of the business men of Caldwell is illustrated by the little flurry that was caused by the suspension of the American National Bank. There was very little falling off even in the Christmas trade notwithstanding the fact tha over two hundred thousand dollars are temporarily tied up in the bank. In some cases this will work a hardship. On the whole we doubt that there was ever a bank failure in the state which discommoded people and affected business so little as did this one Of course one reason for this is the abolute confidenc the people have in the officers and stockholders of the bank. Every one feels confident that the depositors will receive dollar for dollar with probably a dividend for the 'stockholders. The three other banks of the city have been affected in no manner whatsoever. Prior to the suspension of the American National a number of depositors transferred their ac. counts to the other banks. Since the suspension business men have simply opened accounts in the other banks. All the banks of Caldwell are in sound condition and amply able to handle the situation in this city. The business men of Caldwell report a good trade with every prospect that the coming year will surpass 1913 in business expansion. On the whole our merchants are in good condition financially and they look forward with hope and confidence.
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IDAHO STATE NEWS National Bank Examiner Free Brown has been appointed temporary receiver of the American National Bank of Caldwell, which has closed Its doors. A sturgeon. weighing 245 pounds was captured near the bridge at Sal mon last week. It measured 8 feet $ inches in length and is the largest Bsh ever caught in that district. The Bonanza copper mines, locat ed near Montpeller. have closed down for the winter. A great deal of neces sary machinery has been installed and Manager Eckhoff expects to ship reg ularly next spring. A jury at Pocatello brought in verdict of guilty against Walter Grant a charged The with arson and conspiracy penalty is from five years to life Grant is regarded as the leader of a "ring" at Pocatello. Oliver Mink, perhaps the oldest In dian in southern Idaho If not in the northwest, died peacefully and alone at his cabin south of Pocatello. last week. Mink was very old, probably well past the century mark The Idaho Railway, Light & Power for company of Bolse, holding company the Idaho-Oregon Light & Power company, has been placed In the hands S. of a receiver by Judge Frank court. Dietrich of the federal district The Idaho state highway commis sion met at Pocatello last week and awarded of a eontract for construction the first stretch of the state high way, This will be two and one-half miles Neuf. between Pocatello and Port P. C. O'Malley, who has been ap pointed postmaster of Pocatello, by President Wilson, is a prominent at torney of that city and was formerly city four attorney. He has lived in Idaho years, most of that time being spent in Pocatello. The suit for $25,000 damages brought at Salmon City against the Lembi Power company by Mrs. Max Smith for the death of her husband by who was alleged to have been killed a live wire last April, bas been settled out of court. The man killed and badly mutilat ed by a train in the Glenn's Ferry yards has been identified as Earl 8. Sawyer of Syracuse, Neb. His rela. tives were communicated with and gave instructions to bury the body at Glenn's Ferry. f That she will lead a better life was the condition on which Mattie King, a the colored woman, was released from city jail at Bolse, The woman was convicted some time ago of running a disorderly house and selling liquor illegally. A dispatch from Washington states n that the buildings and grounds of the t Fort Lemhi Indian agency will short ly be sold at public auction. By at e act of congress passed last July, the state of Idaho was given a prefer 4. once right to buy this property. With a cash reserve of 23 per cent d to and with securities of sufficient value e pay Its depositors in full, the of o floors and directors of the American h National bank in Caldwell voluntaril e turned the institution over to Fred g liquidation. Brown, national bank examiner, for During the past month the Oregon Short Line brought 775 actual to tlers into Idaho. Many are farmer set or who are tired of the droughts of the = middle west and have been drawn to à a land where drought, hailstorms, y clones and blizzards are known onl cy ir from hearsay. 10 To the fact that the board of V. dons of the state followed a custon per ir established for years, Arthur Cutts, former cashier of the Idah I state bank, of Halley, owes th Christmas present he received Thur he day in the form of a full and absolut = or pardon from the state penitentiary. The Southern Idaho Producers' 4. an sociation has decided to pool all ship a he ments of potatoes sold after Decen ber 1, 1913, and the producers hav a, been notified to that effect. Th claim is made that If the potatoe had been pooled in monthly ship ments the price In October of all have averaged 77 cents and in woul No vember 73 cents. ng The city of Idaho Falls scored detil legal victory last week by obtainin a dismissal In the district court ry the claim for $15,000 damages file by Julia A. Rush, for the death her husband. an employe of the cit all who was killed by a cave-in whi digging a sewer trench. ns Assessor Grimmett has issued ux he statement of to the effect that the tax Bingham county for the year W dy. amount to $285,000, of which $124,00 goes to the state and the balance f county, city and school expense Blackfoot city receives $26,300 as orits schools get $33,000. are The bridge across the Payette riv :ky between Fruitland and Payette is no utsopen for trafic. This bridge brin to the famous Fruitland bench abo two road. miles nearer Payette by WGE In. Within the past few days the Uta the/ Light its dam & a Power mile company below. has rais
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The annual convention of the Idaho Mining association will be held at Boise, Janaury 21. The association's meeting will be on the same day as that of the opening of the meeting of the workmen's com ensation committee meets to draft a measure which will be submitted to the next legislature. The state board of pardons in session at Boise postponed action on the application of B. F. O'Neil, the convicted Wallace banter, because a full membership was not present, Attorney General Peterson being at Washington. Upon his eturn & date will be set on which to take up the application. The public funds on deposit in the American National bank of Caldwell when it suspended business, December 23, and passed into the hands of a receiver for liquidation, are in every th instance amply secured according to both public officials and officers of the bank. The Idaho Falls postoffice was swamped one day last week by the receipt of 150 50-1b. sacks of flour from the Ucon mill for local delivery The first delivery under the new reg ulation by the local office kept severa drays busy to meet the demand. in
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IN THE GEM STATE During 1913 there was raised in Idaho 8,000 carloads of potatoes, a farm product in which Idaho broke the world's record for a one-acre yield. It is predicted that before the close of 1914, citizens of Boise will have the pleasure of riding to and from Barber over an interurban trolley line. Up to July 1, 1913, $8,132,831 was expended by the United States gov. ernment on the Boise reclamation project, of which the Arrow Rock dam is the key. During the past year the school population in Idaho increased from 104,735 to 108,850, a net gain of 4,115 students. Over $1,800,000 was paid out to teachers in salaries.It is probable that the case of Franklin county against Bannock county will be reopened, in order to more fully determine the boundary line between the two counties. The value of the mineral and mental output of Idaho for the year is given as $22,807,575, an increase of $778,247 over 1912. and representing 353,942,500 pounds of lead, zinc, copper, silver and gold. During the past year Idaho fruit growers shipped 2,000 cars of fruit of the highest quality, netting producers $1,038,270 profit and added 5,000 acres of fruit lands to its rapidly growing area. In 1911 the Oregon Short Line brought 8,933 emigrants into southern Idaho. In 1912, the last year for which complete figures are at hand, the same company brought in 0,407 emigrants. Canyon county will rank second with the counties of Idaho and will be exceeded only by Ada county in the amount of property shown on the abstract of the personal assessment roll for 1913. When the last federal census was taken Idaho had within her borders 325,594 men, women and children. This was an increase in the ten years from 1900 of 101.3 per cent, a record made by but few of the states. Bert Mattingly Miller will probably be brought back to Boise from Vale. Ore., to answer to the charge of grand larceny. He is accused of stealing a team of horses from J. W. Willis, which were later sold in Oregon. The state now has in round numbers $10,000,000 in its permanent endowment funds derived from the sale of state lands. And the state still owns about 2,500,000 acres of land and timber of probably $12,000,000 in value. Two members have been added to the Pocatello city council. Eight months ago the Fifth ward was created. which gives two more on the municipal representative body, but the appointments were delayed until last week. M. E. Whitehead, charged with issuing a check on a bank in which he had no funds, pleading guilty as charged in district court at Caldwell and was sentenced to serve 60 days in the county jail. The check in question was for $20. Little Lost river irrigation project is to be revived. The state bond board will apply to the federal government for the segregation of the land in cluded in the project. This amounts to a little more than 20,000 acres in Blaine and Custer counties. The Idaho Falls postoffice was swamped one day last week by the receipt of 150 50-1b. sacks of flour from the Ucon mill for local delivery. The first delivery under the new regulation by the local office kept several drays busy to meet the demand. The public funds on deposit in the American National bank of Caldwell when it suspended business, December 23, and passed into the hands of a receiver for liquidation, are in every instance amply secured according to both public officials and officers of the bank. The board of inquiry held at Nampa to investigate the accident on the Idaho Northern branch when a motor car collided with the rear end of the regular train placed blame for the same wholly on Conductor F. A. Bonner and Brakeman J. F. Sewell of the train. Parties are negotiating for the construction at Pocatello of a 100-room hotel to cost not less than $100,000. The only arrangement now to be made is to induce the owners of the desired realty to take stock in the hotel company equal to the value of the lots in question. In 1914 the Oregon Short Line proposes to tap two of the richest agricultural sections in Idaho. One section lying between Idaho Falls and St. Anthony, a wonderfully rich agricultural district, is to be encircled by a belt line or loop 80 miles long to cost $1,500,000. President D. Worth Clark of the Wilson club has issued a call to all Democrats to gather in Pocatello on the evening of January 8 for the reg. ular Jackson day banquet and speechmaking. The gold strike recently made in the Allie mine at Gilmore, is said to exceed any strike that has ever been made in that camp. Reliable reports say that the strike was made at the depth of 300 feet, where a large vein of gold ore was encountered which is estimated to run from $9,000 to $10,000 per ton.
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IDAHO FINANCIERS ARE UNDER ARREST Violations of Banking Laws Charged Against W. G. and S. D. Simpson. Special to The Tribune. CALDWELL. Idaho, Jan. 20.-As an outcome of the failure of the American National bank here last month, W. G. Simpson and S. D. Simpson were arrested on Monday by federal officers and charged with violations of the banking acts. W. G. Simpson was, until some months prior to the failure, president of the defunct bank, and S. D. Simpson, a brother, acted as cashier up to the day the bank closed its doors. The former, who was placed under arrest at Meridian, Miss., gave bonds for his appearance. The excashier will have a preliminary examination at Fort Worth on Saturday next, at which place he was found by the federal officers and placed under arrest. At the time of the failure of the bank it was given out that both men had been borrowing large sums of money for their individual use, and it was thought that the acts in question had brought them within the purview of the law. The specific charge upon which the two bankers were arrested is that S. D. Simpson, the cashier, issued a false certificate of deposit In the sum of $2500 in favor of his brother. W. G. Simpson. The latter is charged with receiving the money upon this alleged false deposit. Simpson organized the bank which has suspended payment.
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# S. D. SIMPSON GIVES # BONDS TO APPEAR # WHEN WANTED At the preliminary hearing of S. D. Simpson, former cashier of the American National bank of Caldwell, held at Fort Worth, Texas, Saturday, before a United States commission on charges of violating the National banking laws, he was held to appear in court and placed under bonds in the sum of $5000.00, which were furnished. Mr. Simpson gave bonds to appear before the federal grand jury or in court when wanted. He will arrive at Boise on or before Feb. 16 when the federal grand jury convenes. The specific charges against Simpson have never been made public. Both he and his brother, W. G. Simpson, are under bonds to appear in court when needed. President M. A. Devers and Gabe Broiller, a bookkeeper in the bank, went to Fort Worth to testify against Simpson. Mr. Devers is now visiting his daughter at Washington and Mr. Broiller is en route home. The work of settling up the affairs of the American National bank are proceeding expeditiously under Receiver Brown. No statement as to what the bank will pay the depositors and stockholders has been made public. It will be some little time before Receiver Brown will get the affairs of the bank in such shape that he can make a statement. It is still felt that the depositors will receive practically all of their money while many think that they will be paid in full with a residue left for the stockholders.
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Word has been received here that Francis Chapman, temporary receiver of the Mesa County National had been appointed temporary receiver for the American National Bank of Caldwell, Idaho.
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Francis A, Chapman, who was temporary receiver for the Mesa County National Bank, stopped off this morning on his way to Caldwell, Ida., where he has been appointed receiver for the American National Bank of that city. He will leave tomorrow night.
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Depositors Getting Money. (Capital News Special Service.) Caldwell, May 30.-Nearly $85,000 is being checked out of the American National bank, which failed here some months ago, on treasury warrants. The distribution began Friday and represents the first dividend of 30 per cent, which was announced in these columns would be available around the first of June. Mr. Chapman, receiver of the bank, got back this week from Washington, where he went to arrange for the payment of the dividend. The payments are made upon presentation of signed receipts for the amount and the receivers' certificates. There will be little if any loss finally to depositors in closing up the affairs of the bank and it is expected that another dividend will be forthcoming in a month or so.
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Francis A. Chapman, as receiver of the American National Bank of Caldwell, Idaho. a corporation, Plaintiff, vs. Benjamin Clark Calvert, Annie X. Calvert husband and wife, Bostick Lumber & Manufacturing Company a corporation and American Trust Company, of Caldwell, Idaho, a corporation, Defendants. Notice of Sheriff's Sale on Foreclosure of Mortgage. Under and by virtue of an order of sale and decree of foreclosure, issued out of the District Court of the Seventh Judicial District, State of Idaho, in and for the County of Canyon, on the 4th day of August, 1914, in the above entitled action, wherein Francis A. Chapman, as receiver of the American National Bank of Caldwell, Idaho, a corporation. the above named plaintiff obtained a decree against Benjamin Clark Calvert, Annie K. Calvert husband and wife, Bostick Lumber & Manufacturing Company, a corporation and American Trust Company of Caldwell, Idaho, a corporation, defendants, on the 31st day of July, 1914, which said decree was, on the 3rd day of August, 1914, recorded in Judgment Book five of said court, at page 319, I am commanded to sell all that certain lot, piece or parcel of land situated in the County of Canyon, State of Idaho, and bounded and described as follows, to-wit: The east one half of the northeast quarter of section twenty-eight (28) in township four (4) north of range five (5) west of the Boise Meridian. Notice is hereby given, that on the 29th day of August, 1914, at 11 o'clock a. m., of that day in front of the Court House door in the city of Caldwell, in the County of Canyon, State of Idaho, I will, in obedience to said order of sale and decree of foreclosure sell the above described property, or so much thereof as may be necessary to satisfy the plaintiff's decree with interest thereon and costs to the highest bidder for cash lawful money of the United States. F. M. BRESHEARS, f Sheriff. By A. G. STREET, Deputy. Dated August 4th., A. D., 1914. a-7
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AMERICAN DEPOSITORS PAID DOLLAR FOR DOLLAR Holding Company Takes Over All Securities of the Bank. The officers and stockholders of the American National Bank, have wound up the affairs of the bank with the greatest satisfaction to the depositors as they will be paid in full. The receivership will be terminated as soon as the formalities can be gone through. The full liquidation of the bank was made possible by a plan suggested by Messrs. Jackson & Walters, attorneys of this city, and adopted and put into execution by the larger stockholders. Prominent among those who joined the holding company the stockholders of which, among others are, M. J. Devers, J. H. Forbes, M. L. Walker, A. M Porter and others. There are about $65,000 on hand to be paid to the depositors in addition to the 30 per cent already paid by the receiver. This money will be paid out within the next two weeks. History of Failure. The American National bank failed November 24, 1913, owing to the alleged mismanagement of W. G. Simpson. president, and S. D. Simpson, cashier. These men are now on trial in the United States district court charged with criminal liability and criminal acts in the management of the bank. In due course of time a receiver was appointed to administer the affairs of the bank. He has alreadv paid the depositors dividends amounting to 30 per cent. The new holding company organized by the directors and stockholders will pay the depositors dollar for dollar and will take over the assets of the bank. Everybody connected with the holding company is to be heartily thanked for his interest and generosity in investing in the company. It is to be hoped that in the long run none of them will lose to any great extent.