97000571580 9700057
routing
97-0005301c40a3e34b6733None
LEGAL NOTICE NOTICE TO CREDITORS In the District Court of Joseph Wright, Vanacorporation, defendant. Notice hereby given that all against Vanadium Metal before the 26th having said claims the with the Ogden State building which shall itemized by and shall and lien entitled, any other creditors of said fendant. OGDEN STATE BANK. Receiver By Officer. JOHN HENDRICKS, Attorney for Receiver, Ogden, Utah
RUN CAUSES OGDEN BANK TO CLOSE Ogden State Bank Fails Open Doors United OGDEN, Utah, Aug. Ogden State bank, institution an organized in 1891 and with resources of failed to open its doors today. Hadlock. state banking said the bank's rectors closed the bank because run which had developed to alarming proportions.
Run Close Utah Bank To Close The Ogden State Bank, an institution organized in 1891 and with resources of $7,000,000, failed to open its doors today. W. H. Hadlock, State Banking Superintendent, said the bank's di rectors closed the bank because of a run which had developed to alarming proportions.
BIGELOW BANK REORGANIZE OGDEN, Aug. protect all of its depositors and to arrange for reorganization on sound basis, the directors of the Ogden State bank today, decided to suspend business of the institution during the next 30 days. The decision came voluntarily after the directors had decided It the only honorable course for them to pursue. The notion came after gradual of two or three days had reached dangerous point Rumors say the run on the bank was started maliciously The Ogden State bank was organized in 1891 Bigelow is president It was capitalized at $100,000 Its and its surplus $300.000.
OGDEN REGAINS ITS CONFIDENCE (Continued from Page One) counts to take care of their receipts and the bank the city agreed that they had a real of work. ECOLES' STATEMENT Marriner S. Eccles, president First National and the First Savings bank, on the situation today as follows: "We wish to express appreciation for the fine spirit of loyalty and helpfulness manifest toward this stitution throughout yesterday following of the State bank's suspension. Both the Security bank and our own late in the to take care of the demands of all Yesterday being the end the month, several large payrolls and other monthly to increase activity in the lobby. 'Many accounts were and the First National bank at the the showed an increase deposits. The combined deposits of the First National and First banks last night were with cash resources of On the same date year ago the deposits were and resources $3,574,075.46. A of accounts withdrawn have returned to the bank today. must be remembered that during the period of suspension of the State bank two banks will Ogden have to take care of the business formerly handled three. Many the customers of the Ogden State bank will need some sistance during the period of reorganization. With necessarily there will be much increased activity in the lobbies of the Commercial Security bank and our own institution.' HEMINGWAY STATEMENT The facilities of the Commercial Security bank are open to the deof the Ogden State bank, H. president, said toE. Hemingway, day. bank will willing and glad extend facilities customers of the Ogden State bank needing temporary accommodations," he said. "On the second day of operation this bank experienced gain of deposits. While the withdrawals Monnumerous the total were amounts and at the close of the day the cash were not greatly changed from what they had been in the morning. An attachment for motion picture projectors has been invented to clean grease, oil spots dirt from films as they are being hibited.
BIGELOW BANK CLOSES DOORS State Bank Commissioner Takes Over Affairs of Ogden Institution OGDEN-The Ogden State bank organized in 1889 H. C. Bigelow and A. P. Bigelow, fathery and son failed to open its doors Monday morning and its affairs were taken over by W. H. Hadlock, Utah state bank commissioner. In a formal statement officials of the bank announced that the closing was to take advantage of the 30-day moratorium allowed by state During that period it is hoped that satisfactory adjustments may be worked out for the reopening of the institution. A. P. Bigelow, president of the bank, stated that the institution is in an unusual financial condition, having approximately 7,000,000 in assets, which, he says, will be sufficient to meet all obligations. His door of the bank follows: "For some time past rumors have been circulated throughout this city and the Ogden district reflecting ber upon the financial condition of the Ogden State bank. At first we the subside, but during the latter part of last week withdrawals from the bank became more threatening. "It has been decided by the board of directors request the bank missioner to take charge of the fairs of the bank, in the best interest of the and to give little time to collect substantial amount of the assets. Under the banking law there is thirty period of grace granted bank in collect some of its assets and adjust its affairs. We the bank and reopen at the earliest The news that the Ogden State bank had closed its doors temporarily caused some uneasiness among timid depositors of other Ogden banks and number of withdrawals were made, but in aggregate the total amount not large. Despite the timidity shown by these depositors, a check-up at the end of the day showed that deposits by business men of the city were about up to This fact, coupled with the assurance that there was plenty of cash on hand to meet of depositors was responsible for an almost complete restoration of confidence. The other banks of the city early in the day posted notices in conspicuous places that they would remain open two hours later than usual in order to meet demands, and remained open until all de- tion.
Chamber Names Fete Chairman OGDEN-Ogden chamber of comdirectors Monday appointed E. mittee to prepare a program for Ogden day at the Brigham Peach day celebration, Saturday, Septem Mr. Alton will name members of committee to aid him in prepar- CHOSEN FOR COURSE OGDEN- Wesley B. King son of Mrs. 2635 aveenlisted in the navy nue on June has been to take the course of instruction at the aviation general utility school at Great according to word received in Ogden. WAIVES HEARING OGDEN- E. Parish, charged with issuing fictitious check for inary hearing in the city court Monday and is held for trial under $600 cash bail or $1000 property bond. mands were met At these tions check presented was paid in full without question. Mr. Hadlock gave the following figures on the condition of the Ogden State bank: Capital stock $100.profits, $50,000, and deposits, $6,334,Regarding his taking over the bank, Mr. Hadlock made the following statement: By order the board of directors, the affairs of the Ogden State bank in the hands the state banking department. During the 30 days' suspension as allowed by statute every effort will be made the view of reopening the institu-
Ogden State Bank Closes Its Doors OGDEN, Aug. 31. Ogden State bank. an institution ganized years ago, closed doors early this morning by order Affairs bank today were in the hands of the state banking State Bank Commissioner Hadlock has given Ogden State bank 30-day period in which and reopen institution sound basis. Hadlock said closure caused by gradual run of two or three which reached such that directors decided to untarily close the bank and call in banking department. "The run developed such the only honorable course for the to was close up pursue the
Depositors Begin Claims Filing On Ogden Bank sand persons have claims against the Ogden State bank, gan filing their claims with the state bank examiner Thursday, required to positors aminer charge. be filed than Nov. 24, Notices posted on the bank's doors windows Aug. forming the public that had and taken in charge by the state bank notices calling persons against the bank to file Some time after had issued his statement the press ednesday, relative to the filing,of the invenBory the Second court. Jones made following is the desire of the banking that receive dividend the earliest possible time, the If ficient can be accomplished distribute dividend by Dec. 20.
FALL FATAL TO CHRIS. J. JENSEN Educator Dies From Injuries Received January 22 Christian J. Jensen, 66, instructor at the L. D. S. church seminary at Weber county high school, died at five-thirty a. m. Saturday morning at a local hospital. Death resulted from injuries received at nine-thirty a. m., January 22, when Mr. Jensen slipped and fell on an icy sidewalk at the school. He suffered a basal fracture of the skull. Mr. Jensen was a son of Mr. and Mrs. Christian J. Jensen. He was born in Mt. Pleasant December 20, 1865. SUITS STARTED ON BANK STOCK Four Are Named Defendants in Assessment Claims In the Second district court today the Ogden State bank, by W. H. Hadlock and R. S. Jones, state officials in charge of liquidation proceedings for the bank, commenced suit against four stockholders to realize on an assessment of 100 per cent per share of $100 each, authorized by court in a former decision for liquidation purposes. In each case the bank seeks to obtain the par value of the stock, together with interest at 8 per cent since August 29, 1931, when the bank suspended business. SUMS LISTED
Depositors In Utah Banks to Get U. S. Fund Ogden State, Farmers and Merchants of Provo and Deseret Savings of Salt Lake to Receive Loans ARRANGEMENTS have been made with the Reconstruction Finance Corporation whereby funds will be available to depositors of the Ogden State bank, the Farmers and Merchants Bank of Provo, the Deseret Savings bank of Salt Lake and other closed Utah banks up to 30 per cent of the amount of deposits. This was the statement issued today by E. O. Howard, chairman, and M. S. Eccles, O. W. Adams, and J. E. Cosgriff, members of the Reconstruction Finance Corporation's local advisory committee, following announcement that the Deseret Savings bank had been taken over by the state banking department. The committee indicated that this relief to depositors will be forthcoming just as soon as the closed institutions can file the necessary applications and comply with the legal requirements. DESERET NAT. BANK GOES TO ECCLES GROUP Deseret Savings, Another Distinct Bank, Is Suspended LEGAL PHASES The Utah attorney general's office and counsel for the advisory committee are looking into the legal phases of the situation and it appears that legal authority to borrow money from the Reconstruction Finance corporation must be obtained either by a special session of the legislature or through a test case to be acted upon speedily by the supreme court.
COURT GRANTS PETITION TO PAY DIVIDEND TO DEPOSITORS Objections To Payment Overruled By Judge Barker JONES GOES AHEAD Trust Department Aspects Discussed At Bank Hearing Depositors of the closed Ogden State bank will receive a seven per cent dividend immediately under a Second district court ruling made late Monday by District Judge George S. Barker. Examiner R. S. Jones, who is liquidating assets of the bank for W. H. Hadlock, state bank commissioner, announced the checks would be mailed out as soon as is physically possible. In authorizing payment of the dividend, Judge Barker held that
Depositors File Suit Against Bank OGDEN-The David Eccles com pany, Celia E. Cheesman, Walker S. Cheesman and J. G. Titley filed suit against the bank commissioner, the examiner of the Ogden State bank and the bank itself, in the Second district court Saturday, asking that $1932.61 part of an alleged special fund deposited in the bank, be decreed special deposit and be paid immediately to the plaintiffs. The complaint alleges that $3000 was deposited in the bank as special fund to be paid out in accordance with an the various plaintiffs and that the amount now sued for was in the bank when it closed alleged in conclusion that the bank and examiner have refused to recognize the amount as special fund and are retaining the money as part of the bank's as-
Petitions have been filed in the district court by John A. Malia, state bank commissioner, and T. E. Thomas, examiner in charge of liquidation of the Ogden State bank, asking approval of reports and settlement of accounts, as follows: Browning Automobile company on a balance of an alleged indebtedness of $13,021.53, secured by promissory notes under contract. Public Meeting—The Ogden Humane society will meet at seven-thirty o'clock Monday evening in the Bigelow hotel. A report of the national humane convention in San Francisco will be given by Mrs. John W. Hyslop. The public is invited. For Rent or Lease—Homes furnished and unfurnished at bargain prices. Call 1625. Fire Alarm—Firemen were called from the central station Saturday
Ogden Bank Receiver Files Expense Report OGDEN- M. Anderson, receiver in the case of the Ogden State bank, bank and special quidator, against D. D. McKay. E R McKay and James Gunn McKay wherein the bank foreclosed chattel mortgage on certain livestock. filed his third report in the Second dis trict court Saturday and asked that his compensation for services in full be allowed in the of $399 99. Mr Anderson reported the sales of stock since former reports as follows: D. D. McKay, $3034.25 E. R. McKay, $2940.50; James Gunn McKay, $3071
Hearing Set on Bank Receiver's Tax Application Jan. 30. -District Judge E. has set Monday after for hearing on the petition of the Ogden State bank liquidation for permission to pay delinquent taxes as sets the closed Various properties. the investment The total amount on the Judge Saturday, the for Wyoming Livestock the far as the bank liquidators filed judgment Three were the protecrights be Mona Smith and Elizabeth set forth they the Williams claims $500 trust John he $2,927.18 in the trust
POWER GRANTED OGDEN, sell certain bonds the Ogden State Bank was granted liquidator "by District Judge George Barker on Saturday upon the Bigelow, and of railroad The per value and the value is approximately
MISSING BEAR CUBS CAPTURED FOUND; (Special to ceipt of information that the two Monte Springs bears which had been promised the at Hogle Salt Lake had been released from their cage in Mrs. John W. Hyslop, of the Og. den Humane society, went on a bear hunt today. She located one of the bears In tree near the cold water swimming pond Monte and had led its cage. The other bear was dlscovered far away and efforts were being made to recapture it this afterMrs. Hyslop said the evidence indicates persons had deliberately pried the bars to release the mals. among the assets the failed Ogden State bank. having been taken over with the Monte With the closing of the resort, feedthe bears became and Mrs. persuaded the bank to let her dispose of the animals.
WOMAN ADMITS EMBEZZLEMENT Trusted Employe Altered Accounts To $37,000 She Declares CLEVELAND, Sept. 9—(AP)—A 43-year-old business woman, who had been a trusted employe of the Union Trust company for twenty-seven years, disclosed today that she had embezzled $37,000 because she "went crazy over stock speculation like a lot of other people." The woman, Miss Elsa J. Lackamp, signed a confession at the county STUDY GIVEN TO DEMURRERS Effort Is Made To Merge Suits Against Former Bank Leaders Demurrers of officers, directors and heirs of former directors of the Ogden State bank to the $2,500,000 damage suit of bank liquidators against them for alleged mismanagement of the bank's affairs, were taken under advisement Saturday evening by District Judge Eugene E. Pratt. The demurrers were submitted without argument.
Bigelow Stripped Of His Last Cent OGDEN, Dec. 29. (/P)-A. Bigelow, president of the defunct Ogden State bank and until three years ago, considered of the west's most prominent bankers, walked from the district court, stripped, in the words of his counsel, of his last cent. to an order from the court Mr. Bigelow turned all his property This property Included $30 in currency which Mr. Bigelow had on his person. This was done in an effort the bank receivers to collect in the sum of $31,000 arising from Mr. Bigelow's statutory liability as stockholder the bank which closed August 31,