11340. Commercial National Bank (Great Falls, MT)

Bank Information

Episode Type
Suspension → Closure
Bank Type
national
Bank ID
10530
Charter Number
10530
Start Date
October 4, 1922
Location
Great Falls, Montana (47.500, -111.301)

Metadata

Model
gpt-5-mini
Short Digest
708eee86

Response Measures

None

Receivership Details

Depositor recovery rate
27.7%
Date receivership started
1922-12-09
Date receivership terminated
1930-10-22
OCC cause of failure
Economic conditions
Share of assets assessed as good
21.7%
Share of assets assessed as doubtful
57.7%
Share of assets assessed as worthless
20.6%

Description

Bank suspended by board of directors Oct 4-5, 1922 (articles vary). No run reported. A federal receiver was requested/appointed in December 1922 and the institution remained in receivership; later federal indictments of officials and court actions confirm permanent closure. OCR variances corrected (date reported as Oct. 4/5, 1922).

Events (5)

1. May 1, 1914 Chartered
Source
historical_nic
2. October 4, 1922 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Board announced suspension; contemporaneous reports give deposits and loans but do not state run or external shock. Later federal indictments imply internal mismanagement/false entries motivating failure/closure.
Newspaper Excerpt
Doors of the Commercial National Bank here did not open this morning, suspension having been announced last night by the board of directors.
Source
newspapers
3. December 9, 1922 Receivership
Source
historical_nic
4. December 12, 1922 Receivership
Newspaper Excerpt
F. D. Williams, federal examiner in charge of the Commercial National bank of Great Falls since that concern suspended early last month, Monday was named receiver of the bank by D. R. Crissinger, comptroller of the currency. Mr. Williams' commission is effective at once and he will immediately take over the management of the bank pending the working out of reopening plans by the stockholders. Will Collect Stock Liability ... it is generally expected that he will at an early date make demand upon all stockholders for payment of their stock liability.
Source
newspapers
5. November 19, 1923 Other
Newspaper Excerpt
Officials of the defunct Commercial National bank of Great Falls were arrested by the United States marshal ... indictments ... alleges misapplication of moneys, funds and credits and the making of false entries in the books. Those under arrest ... former cashier ... former assistant cashier ... former director ... former director and attorney ... for the failure of the bank which closed its doors on October 4, 1922 and for which a receiver, T. E. McClintock, has been appointed.
Source
newspapers

Newspaper Articles (21)

Article from The New York Herald, October 6, 1922

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MONTANA BANK CLOSES. GREAT FALLS, Mont., Oct. 5.-Doors of the Commercial National Bank here did not open this morning, suspension having been announced last night by the board of directors. The suspension announcement gave the bank's deposits as $1,202,000 and its loans $1,505,000.


Article from The Daily Banner, October 6, 1922

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Bank Doors Fail to Open. Great Falls, Mont., Oct. 6.-Doors of the Commercial National Bank here did not open, suspension having been announced by the doard of directors. The suspension announcement gave the bank's deposits as $1,202,000 and it. loans $1,505,000.


Article from Richmond Times-Dispatch, October 6, 1922

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Montana Bank Closes. GREAT FALLS, MONT., Oct. 5.Doors of the Commercial Nationa Bank here did not open this morning. suspension having been announced last night by the board of directors. The suspension announcement gave the bank's deposits as $1,202,000 and its loans $1,505,000.


Article from Cheyenne Wells Record, October 12, 1922

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CAUGHT FROM THE NETWORK OF WIRES ROUND ABOUT THE WORLD. DURING THE PAST WEEK RECORD OF IMPORTANT EVENTS CONDENSED FOR BUSY PEOPLE. WESTERN J. Michael Sherman, New York writer, lecturer and labor was drowned in near Priest bia advocate, newspaper river Rapids, the Wash. ColumS. (Bill) Hart, motion actor. who was serpicture William reported with lously III in Los Angeles typhold fever and complications, is recovering. Doors of the Commercial National National Bank, at Great Falls, Mont., are closed, suspension having been announced by the board of directors. The the suspension announcement gave bank's deposits at $1,202,000 and its loans $1,505,000. former president refining corporation an M. oil W. Friedell. custody in in Phila- Los of delphia, was taken into Angeles at the request of the authorItles of that city or a charge that he had embezzled $30,000. "I am not guilty," declared Friedell, "and I can prove it.' Proposal of the Chicago, Milwaukee effect St. Paul railroad to put into a & reduction of 7 cents a hundred pounds on the freight rates on wheat from Montana points to terminals for export is sound shipped and opposed by Puget the by the millers of Montana state railroad commission. James Thomas, 14, student at the Inglewood High school in Los Angeles, in trying to prevent a door thrust with a glass panel from slamming. a his hand through the panel and sliver of glass pierced his heart. As If nothing had happened, he walked down the steps of the building. Then he collapsed and death came quickly Joe Dieker, while sitting on the steps of a church in Los Angeles, was arrested for the police of Denver, where he Is wanted to answer a charge of murdering William Hanlon. Dieker, deaccording to the arresting officers, to clared his willingness to return the Denver to tell what he knew of affair, but declared he was a witness and not a principal. W. Roach, alias Frank 50 years old, postFrantz, Frank formerly at Calexico, Calif., was taken in master custody Sterling, Jarvis Colo., and by Inspector F. E. who stated that a into F. Postoffice McKean, with Roach wanted in connection was shortage of approximately $7,000 in accounts of the postoffice at Calexico. The inspectors had trailed Roach for thousand miles, cities Missouri, Kansas, in several Texas, visiting Nebraska and Colorado, since he left Calexico on Sept. 1. WASHINGTON from Georgia won the disof being the first sex tinction A woman the of her United to obtain appointment to FelSenate, when Mrs. W. H. Cartersville. Ga.. ton States or long Georgia." known the "grand old woman of as by Governor Thomas W. as senator to Hardwick was named succeed the No- the late Thomas E. Watson, until elections, when a successor chosen at the polls. vember will be has Mrs. been Fel is 87 years old and prominent ton in Georgia politics for nearly half a century. Vice Consul Barnes, at Smyrna, rethe state that of refugees from evacuation ported to department for Smyrna 500 had been completed except to embark soon. the the report said, 222.000 who fire, are Since refugees and had embarked from Smyrna ports, and of 180,cared for by naval 000 neighboring were American workers. these forces and American relief agreement fortyin the western area and nine The railroads peace between trainmen and conductors was formally signed in Chicago. The agreement calls for the continuance of the presrate of pay to conductors and for one year, the to be maintained trainmen day ent basis eight-hour and time and a half for overtime after eight hours. Declaring labor to be partisan to a principle rather than to a party, President Gompers of the American Federation of Labor, in a formal statement predicted that no "imwould be portant in Washington, reactionary legislation" Congress, be enacted by the next cause of labor's activities. The federation head asserted that "labor has stuffed the reactionists in Congress effectively.' Railroads of the southenstern sec of the United States and brotherhood tion organizations of conductors and in trainmen signed an agreement Washington settling all outstanding between them and wages and working ing differences present extend- regulations until Oct. 31, 1923. the following be for postmaster at named One of three Brush, will Colo.: They are Charles F. McMullen, David P. Saunders and Cecil P. Lamb They the are on the eligible list certified to civil postoffice department by the service commission.


Article from The Holly Chieftain, October 12, 1922

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CAUGHT FROM THE NETWORK OF WIRES ROUND ABOUT THE WORLD DURING THE PAST WEEK RECORD OF IMPORTANT EVENTS CONDENSED FOR BUSY PEOPLE WESTERN Michael Sherman; New York writer. lecturer was drowned in the advocate, newspaper J. and Colum- labor bia river near Priest Rapids, Wash. William S. (Bill) Hart, motion picture actor. who WAS reported serlously III in Los Angeles with typhold fever and complications. is recovering. Doors of the Commercial National Bank. at Great are National closed, having Falls, been Mont., suspension The HDnounced by the board of directors. suspension announcement gave the its bank's deposits at $1,202,000 and loans $1,505,000. M. W. Friedell. former president Phila- of oll refining corporation in Los delphia an was taken into custody author- in Angeles at the request of the he ities of that city or a charge that had embezzled $30,000. "I am' can not guilty." declared Friedell. "and I prove It.' Proposal of the Chicago, Milwaukee effect St. Paul railroad to put Into & reduction of 7 cents a hundred wheat pounds a on the freight rates on Puget shipped from Montuna points to opposed sound terminals for export is the by the millers of Montana and by state railroad commission. James Thomas. 14, student at An- the High school in Los with inglewood In trying to prevent H door thrust geles, from slamming. a through the a his glass band panel panel heart. and sliver of glass pierced his walked As nothing had happened, he Then If the steps of the building. he down collapsed and death came quickly. the Joe Dieker. while sitting on was of a church in Los Angeles, Denver, steps for the police of charge arrested he is wanted to answer a Dieker. where murdering William Hanlon. deof according to the arresting officers, return to his willingness to of the clared to tell what be knew witness affair, Denver but declared he was a and not a principal. Frank W. Roach, allas postFrank 50 years old, formerly taken master Frants, at Calexico, Callf., was Colo., by custody in Sterling, Jarvis and into Postoffice Inspector F. E. Roach McKean, who stated that with a in F. wanted in connection $7,000 was of approximately Calexico. shortage of the postoffice at for accounts had trailed Roach The inspectors thousand miles, visiting Nebraska cities several Missouri, Kansas, Calexico in and Texas, Colorado. since he left on Sept. 1. WASHINGTON dis woman from Georgia won of her the sex tinction A of being the first the United obtain appointment to W. H. Felto Senate, when Mrs. long known States Cartersville. Ga.. Georgia." ton of "grand old woman of Thomas W. as the named by Governor succeed the was as senator to the NoHardwick IC. Watson, until Mrs. late Thomas elections. when a successor Felvember will be chosen at the old polls. and has been ton is 87 years in Georgia politics for prominent half a century. renearly Vice Consul Barnes, department at Smyrna, that of ported to the refugees state from Smyrna 500 been evacuation completed except Since for the who are to 222.000 refugees had the report embark said, from soon. Smyrna 180, and fire, embarked these American naval 000 American neighboring had were cared ports, for and by relief of workers. agreement area and The peace the western forces rallroads and in between formal- forty nine conductors was ly signed in Chicago. of the trainmen and continuance The agreement pres- and for the conductors calls of pay to eight-hour ent rate for one year. the and time and trainmen be maintained eight day basis a half to for overtime after a hours. labor to be partisan party, Pres- to Declaring than to a Federprinciple of the American Gompers rather a formal statement Ident in "important next in ation Washington, of reactionary Labor, predicted legislation" Congress, that no would be enacted by the activities The fedcause be of labor's asserted that "labor has stunned eration head the reactionists in Congress section effectively.' of the southeastern and brotherRailroads United States and hood of organizations the an of conductors agreement in trainmen signed all outstanding Washington settling them and extenddifferences wages between and working regulaing tions present until Oct. following 81, 1923. three will be One of the at Brush, Colo. David named for Charles postmaster F. McMullen, They They are Cecil P. Lamb. to the are on the department by postoffice P. Saunders eligible and list certified the civil


Article from The Raymer Enterprise, October 12, 1922

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CAUGHT FROM THE NETWORK OF WIRES ROUND ABOUT THE WORLD. DURING THE PAST WEEK RECORD OF IMPORTANT EVENTS ONDENSED FOR BUSY PEOPLE. WESTERN J. Michael Sherman. New York newspaper writer, lecturer and labor advocate, was drowned in the Columbia river near Priest Rapids, Wash. William S. (Bill) Hart, motion picture actor. who was reported seriously III in Los Angeles with typhoid fever and complications, is recovering. Doors of the Commercial National National Bank. at Great Falls, Mont., are closed, suspension having been announced by the board of directors. The suspension announcement gave the bank's deposits at $1,202,000 and its loans $1,505,000. M. W. Friedell, former president of an off refining corporation in Philadelphia, was taken into custody in Los Angeles at the request of the authorlties of that city or a charge that he had embezzled $30,000. "I am not guilty," declared Friedell, "and I can prove It." Proposal of the Chicago, Milwaukee & St. Paul railroad to put into effect a reduction of 7 cents a hundred pounds on the freight rates on wheat shipped from Montana points to Puget sound terminals for export is opposed by the millers of Montana and by the state railroad commission James Thomas. 14, student at the Inglewood High school in Los Angeles, in trying to prevent a door with a glass panel from slamming, thrust his hand through the panel and a sliver of glass pierced his heart. As if nothing had happened, he walked down the steps of the building Then he collapsed and death came quickly. Joe Dieker, while sitting on the steps of a church In Los Angeles, was arrested for the police of Denver, where he is wanted to answer a charge of murdering William Hanlon. Dieker, according to the arresting officers, declared his willingness to return to Denver to tell what he knew of the affair, but declared he was M witness and not a principal. Frank W. Roach, alias Frank Frantz, 50 years old, formerly postmaster at Calexico, Calif., was taken Into custody in Sterling. Colo., by Postoffice Inspector F. E. Jarvis and F. McKean, who stated that Roach was wanted in connection with a shortage of approximately $7,000 in accounts of the postoffice at Calexico The inspectors had trailed Roach for several thousand miles, visiting cities in Texas, Missouri, Kansas, Nebraska and Colorado, since he left Calexico on Sept. 1.


Article from The Williams News, October 13, 1922

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J. Michael Sherman, New YORK newspaper writer, lecturer and labor advocate, was drowned in the Columbia river near Priest Rapids, Wash. William S. (Bill) Hart, motion picture actor, who was reported seriously ill in Los Angeles with typhoid fever and complications, is recovering. Doors of the Commercial National National Bank, at Great Falls, Mont., are closed, suspension having been announced by the board of directors. The suspension announcement gave the bank's deposits at $1,202,000 and its loans $1,505,000. M. W. Friedell, former president of an oil refining corporation in Philadelphia, was taken into custody in Los Angeles at the request of the authorities of that city or a charge that he had embezzled $30,000. "I am not guilty," declared Friedell, "and I can prove it." Proposal of the Chicago, Milwaukee & St. Paul railroad to put into effect a reduction of 7 cents a hundred pounds on the freight rates on wheat shipped from Montana points to Puget sound terminals for export is opposed by the millers of Montana and by the state railroad commission. James Thomas, 14, student at the Inglewood High school in Los Angeles, in trying to prevent a door with a glass panel from slamming, thrust his hand through the panel and a sliver of glass pierced his heart. As if nothing had happened, he walked down the steps of the building. Then he collapsed and death came quickly. Joe Dieker, while sitting on the steps of a church in Los Angeles, was arrested for the police of Denver, where.he is wanted to answer a charge of murdering William Hanlon. Dieker, according to the arresting officers, declared his willingness to return to Denver to tell what he knew of the affair, but declared he was a witness and not a principal. Frank W. Roach, allas Frank Frantz, 50 years old, formerly postmaster at Calexico, Calif., was taken into custody in Sterling, Colo., by Postoffice Inspector F. E. Jarvis and F. McKean, who stated that Roach was wanted in connection with a shortage of approximately $7,000 in accounts of the postoffice at Calexico. The inspectors had trailed Roach for several thousand miles, visiting cities in Texas, Missouri, Kansas, Nebraska and Colorado, since he left Calexico on Sept. 1. WASHINGTON A woman from Georgia won the distinction of being the first of her sex to obtain appointment to the United States Senate, when Mrs. W. H. Felton of Cartersville. Ga.. long known as the "grand old woman of Georgia." was named by Governor Thomas W. Hardwick as senator to succeed the late Thomas E. Watson, until the November elections, when a successor will be chosen at the polls. Mrs. Felton is 87 years old and has been prominent in Georgia politics for nearly half a century. Vice Consul Barnes, at Smyrna, reported to the state department that evacuation of refugees from Smyrna had been completed except for 500 who are to embark soon. Since the fire, the report said, 222,000 refugees had embarked from Smyrna and neighboring ports, and of these 180,000 were cared for by American naval forces and American relief workers. The peace agreement between fortynine railroads in the western area and trainmen and conductors was formally signed in Chicago. The agreement calls for the continuance of the present rate of pay to conductors and trainmen for one year. the eight-hour day basis to be maintained and time and a half for overtime after eight hours. Declaring labor to be partisan to a principle rather than to a party. President Gompers of the American Federation of Labor, in a formal statement in Washington, predicted that no "important reactionary legislation" would be enacted by the next Congress, because of labor's activities. The federation head asserted that "labor has stunned the reactionists in Congress effectively.' Railroads of the southeastern section of the United States and brotherhood organizations of conductors and trainmen signed an agreement in Washington settling all outstanding differences between them and extending present wages and working regulations until Oct. 31, 1923. One of the following three will be named for postmaster at Brush, Colo. They are Charles F. McMullen, David P. Saunders and Cecil P. Lamb. They are on the eligible list certified to the postoffice department by the civil service commission.


Article from The Pioche Record, October 20, 1922

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Great Falls, 'Mont.-Doors of the Commercial National bank here have closed. The suspension announce. ment gave the bank's deposits as $1,202,000 and its loans at $1,505,000.


Article from The Dolores Star, October 20, 1922

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a BRIEF RECORD OF PASSING EVENTS IN THIS AND FOR. EIGN COUNTRIES. IN LATE DISPATCHES DO.NGS AND HAPPENINGS THAT MARK THE PROGRESS OF THE AGE. WESTERN J. Michael Sherman, New York newspaper writer. lecturer and labor advocate. WLS drowned in the Columbia river near Priest Rapids, Wash, William S. (Bill) Hart, motion picture actor, who was reported serlously III in Los Angeles with typhoid fever and complications, is recovering. Judge William J. Kerr, 75 years old, former prominent attorney of Pueblo, Colo. died at the home of his son in Pocatello, Idaho. He had been an invalid for twelve years. Doors of the Commercial National National Bank, at Great Falls, Mont., are closed, suspension having been announced by the board of directors, The suspension announcement gave the bank's deposits at $1,202,000 and its loans $1,505,000. Misleading and fraudulent advertisIng, including that done by reliable promoters and "fly by night' financiers, received a major part of the at tention of the session of the American Association of Investment Bankers in convention at Del Monte, Calif. Gen. Leonard Wood, governor of the Philippines, will return to the United States about the first of next year and assume the presidency of the University of Pennsylvania reported John W. Ziegler of Philadelphia, who is to leave Seattle soon for his home after H visit to the islands A score of persons was injured, several seriously. when a two car roller coaster on the Lincoln Park Scenic railway, Los Angeles, jumped the track in a tunnel The passengers, including three women and several sailors of the Pacific fleet, were burled against the tunnel's wooden sides. Proposal of the Chicago, Milwaukee & St. Paul railroad to put into effect a reduction of 7 cents a hundred pounds on the freight rates on wheat shipped from Montana points to Puget sound terminals for export is opposed by the millers of Montana and by the state railroad commission. Travel across the Utah desert is somewhat speedier now than It was sixty years ago-sixty times as fast, to be exact. In 1862, if the trip were negotiated with a mule team in ten hours it as considered fast time, but, according to a recent air mail report, the trip is now made by airplane in about ten minutes. WASHINGTON The English plan of dispatching lltIgation brought to the highest court with least possible delay is to be followed by the United States Supreme Court, it was disclosed recently. Fifteen to twenty years of building good roads lie ahead of the United States. Under the program which the country has adopted, there will be built during that time, 180,000 miles of improved highways, which will constitute the federal aid highway system, and an equal or greater mileage of state and local roads. When the great job is done, the transportation facillties of the country will far exceed those of any other nation. Vice Consul Barnes, at Smyrna, reported to the state department that evacuation of refugees from Smyrna had been completed except for 500 who are to embark soon. Since the fire, the report said, 222,000 refugees had embarked from Smyrna and neighboring ports, and of these 180,000 were cared for by American naval forces and American relief workers. Declaring labor to be partisan to a principle rather than to a party. President Gompers of the American Federation of Labor, in a formal statement in Washington, predicted that no "itnportant reactionary legislation" would be enacted by the next Congress, because of labor's activities. The federation head asserted that "labor has stunned the reactionists in Congress effectively.' To expedite the movement of coal, Conroad Spens, federal coal distributor, made an urgent appeal to coal operators and shippers to confine their operations as far as possible to their normal spheres of shipment to reduce the amount of transportation service now required. Consumers were asked to confine their purchases to the grades of coal to which they have been accustomed. The United States Supreme Court decree dissolving the Southern Pacific railroad will stand, it was decided recently. the court refusing a rehearing asked by the railroad company. Under the decree issued last spring the court ordered the Southern Pacific to dissolve_fiself from the Central Pacific company. a Restaurant cooking has become profession and the National Restaurant Association purposes to give its votaries the best university training to raise the standard of American eatlug.


Article from The Idaho Recorder, October 20, 1922

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Great Falls, Mont.-Doors of the Commercial National bank here have closed. The suspension announcement gave the bank's deposits as $1,202,000 and its loans at $1,505,000.


Article from Great Falls Tribune, December 6, 1922

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NATIONAL BANK ASKS RECEIVER APPOINTED BE Quickest Seeks Examiner Means for Aiding Reorganization. a Request for the appointment of receiver for the Commercial National bank of Great Falls, which suspended October 4, was made of the comptroller of the currency Tuesday by F. D. Williams, federal examiner in charge. The action was taken, it was announced, as a means of facilitating the reorganization and reopening of the bank pursuant to plans that have been followed since the suspension was decided upon by the board of directors. Through the application of personal funds of the stockholders, it has been thought probable that the bank would reopen before the holidays, but this plan has been interrupted by the position taken by a few of the minor share owners, according to different of the stockholders. Under the reorganization plan contemplated, all of the share owners would immediately pay their liability on their stock, but payment is not compulsory except through demand made by a duly appointed receiver and three or four stockholders are said to have declined to recognize the obligation until such an official is in charge of the bank's affairs. Repeated conferences between the stockholders failed to bring about a change in the attitude of the few who asked that a receiver be named before the stock liability is paid, it was stated, and Examiner Williams filed his request for a receiver after discussing the situation with the board of directors. Plans for reopening the bank are far advanced, according to different of the directors, and it was asserted that after the receiver is placed in charge matters will move rapidly towards resumption of business. The receiver will be appointed by D. R. Crissinger, comptroller of the currency. but until the appointee is named his identity will not be known here. It is considered certain that the comptroller will follow his usual policy of naming somebody from his official staff. It is thought possible that V. M. Smith, who was receiver of a bank at Poplar prior to its recent reopening, will be placed in charge while the reorganization plans are being worked out.


Article from Great Falls Tribune, December 12, 1922

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WILLIAMS IS RECEIVER OF COMMERCIAL Federal Examiner Named to Act Pending Working Out of Reopening Plans. F. D. Williams, federal examiner in charge of the Commercial National bank of Great Falls since that concern suspended early last month, Monday was named receiver of the bank by D. R. Crissinger, comptroller of the currency. Mr. Williams' commission is effective at once and he will immediately take over the management of the bank pending the working out of reopening plans by the stockholders. Will Collect Stock Liability Because of circumstances preceding Mr. Williams' recommendation to the comptroller that a receiver be appointed, it is generally expected that he will at an early date make demand upon all stockholders for payment of their stock liability. Plans under way with the stockholders to reorganize the bank were interrupted by the refusal of a few minor share owners to pay their stock liability until a receiver was named. Other plans for refinancing the bank are well advanced, it has been stated, and early development in the work in progress is expected by those closely in touch with the bank's' affairs. Detailed announcement of the refinancing methods contemplated has not been made, but it has been stated on reliable authority that the banks expects to reopen with its affairs in good condition. Government Will Help Mr. Williams said after his appointment that it always is the government's policy to give all possible assistance in the reorganization of a closed bank. Mr. Williams is a permanent member of the comptroller's corps of examiners and once before has served as a bank receiver in Montana. This was at Butte, where he liquidated a savings bank following its suspension. Much of the work looking to reopening of the Commercial bank is in the charge of J. C. Peters, chairman of the board of directors, who is expected home today from a business trip to Chicago, where he was called in connection with his oil interests.


Article from The Producers News, December 15, 1922

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ANOTHER BANK ASKS RECEIVER Receiver for the Commercial National Bank of Great Falls, which suspended October 4th, has been asked of the comptroller by F. D. Williams, federal examiner, and it is understood that V. M. Smith, who was receival of the First National Bank of Poplar, will be appointed. Miss Constance Duckstad, one of our city school teachers, spent Thanksgiving with her parents at Columbus, N. D.


Article from Great Falls Tribune, December 20, 1922

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PROSPERITY DUE WITH BUSINESS BOOM STARTED Commercial Bank Reopening Proceeding Rapidly, Says Peters. The optimism with which Montana is looking ahead to the new year is fully justified as viewed in connection with the general trend of the business situation in the east, it was stated Tuesday by Julius C. Peters, president of the Homestake Oil company and chairman of the board of directors of the Commercial National bank, following his return from a trp to Chicago, New York and Washington. "Business is decidedly on the upgrade in the east," said Mr. Peters, "and there is confidence everywhere that the next year will seek marked progress made in many branches of industry. One of the signs considered to be favorable is an apparent clarifying of the European situation as it affects foreign buying. There is strong hope that Germany will be in position during the next year to make large purchases in the United States, which with improved markets in other countries would mean a better demand for America's surplus grains and metals." Mr. Peters stated that work looking to the reopening of the Commercial bank, which suspended October 4, is progressing to the entire satisfaction of the board of directors and that the bank will resume business early in the spring. "So far as outside financing is concerned, the work is completed," said Mr. Peters. "When the stock assessment has been paid and we have made necessary arrangements with the depositors, we will be ready to resume without further delay. The comptroller of the currency assured me of full co-operation and the eastern creditors have shown the finest possible spirit. "It is my understanding that the comptroller will ask that the stockholders pay their assessments within 90 days, which would leave this portion of the organization work completed by April 1. It is very probable that by that time we will have completed satisfactory arrangements with the depositors and it should take little time after April 1 to reopen." Mr. Peters arrived from the east Tuesday morning.


Article from Great Falls Tribune, December 29, 1922

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NOTICE Treasury department, office of the comptroller of the currency, Washington, D. C., December 29, 1922. Notice is hereby given to all persons who may have claims against "The Commercial National Bank of Great Falls," Montana, that the same must be presented to F. D. Williams, receiver, with the legal proof thereof, within three months from this date, or they may be disallowed. D. R. CRISSINGER, Comptroller of the Currency.


Article from The Producers News, November 30, 1923

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FOUR BANKERS UNDER ARREST GOVERNMENT MOVES AGAINST GREAT FALLS INSTUTION. Butte, Nov. 19.-Officials of the defunct Commercial National bank of Great Falls were arrested by the United States marshal late Saturday on indictments returned in Butte Monday by the federal grand jury, which alleges misapplication of moneys, funds and credits and the making of false entries in the books. Those under arrest, all of whom gave bond before U. S. Commissioner W. S. Frary of Great Falls, it is reported here by federal officcials, are Edward R. Funk. former cashier of the bank; D. A. Davidson, former assistent cashier; Robert S. Noble, former director and now president of the Noble Mercantile company; Julien C. Peters, former director and atorney at law. Another man, who has not yet been arrested, ras also been indicted in connection with the failure of the bank which closed its doors on October 4, 1922 and for which a receiver, T. E. McClintock, has been appointed.


Article from Belt Valley Times, December 20, 1923

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Frank Rush and Sarah Rush, his wife, Cascade County, a body politic, and T. E. McClintock, as Receiver of the Commercial National Bank, a corporation, Defendants. Under and by virtue of the decree in the above entitled case the Sheriff of said County will sell at Sheriff's Sale on TUESDAY, the 15th day of January, 1924, at 2:00 o'clock P. M. of said day at the West Door of the Court House in Great Falls, Cascade County, Montana, all the right, title, claim and interest of the above named defendants in and to that certain property described as follows, to-wit: The Northeast Quarter of the Southeast Quarter. (NE%SE%) of Section Twelve (12) Township Eighteen (18) North of Range Six (6) East; Lot Seven (7) and the Southeast Quarter of the Southwest Quarter (SE%SW%) and the Southwest Quarter of the Southeast Quarter (SW/SE) of Section Six (6), Lots One (1) two (2) three (3) and the East Half of the Northwest Quarter (E%NW%), the East Half of the Southwest Quarter (E%SW%) and the North Half of the Northeast Quarter (N½NE%) of Section Seven (7) Township Eighteen (18) North of Range Seven (7) East, Montana Meridian, containing Five Hundred Two and 57-100 (502.57) acres, more or less, according to the government survey thereof. Dated at Great Falls, Montana, this 15th day of December, 1923. BOB GORDON. Sheriff of Cascade County. By H. B. HOFFMAN, Undersheriff. (First Publication December 20, 1923) (Last Publication January 3, 1924.)


Article from Belt Valley Times, December 27, 1923

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cade. Phoenix Mutual Life Insurance Company, a corporation, Plaintiff, Frank Rush and Sarah Rush, his wife, Cascade County, a body politic, and T. E. McClintock, as Receiver of the Commercial National Bank, a corporation, Defendants. Under and by virtue of the decree in the above entitled case the Sheriff of said County will sell at Sheriff's Sale on TUESDAY, the 15th day of January, 1924, at 2:00 o'clock P. M. of said day at the West Door of the Court House in Great Falls, Cascade County, Montana, all the right, title, claim and interest of the above named defendants in and to that certain property described as follows, to-wit: The Northeast Quarter of the Southeast Quarter (NE%SE%) of Section Twelve (12) Township Eighteen (18) North of Range Six (6) East; Lot Seven (7) and the Southeast Quarter of the Southwest Quarter (SE%SW%) and the Southwest Quarter of the Southeast Quarter (SW SE%) of Section Six (6), Lots One (1) two (2) three (3) and the East Half of the Northwest Quarter (E%NW%), the East Half of the Southwest Quarter (E%SW%) and the North Half of the Northeast Quarter (N%NE%) of Section Seven (7) Township Eighteen (18) North of Range Seven (7) East, Montana Meridian, containing Five Hundred Two and 57-100 (502.57) acres, more or less, according to the government survey thereof. Dated at Great Falls, Montana, this 15th day of December, 1923. BOB GORDON, Sheriff of Cascade County. By H. B. HOFFMAN, Undersheriff. (Last Publication January 3, 1924.)


Article from The Wolf Point Herald, December 27, 1923

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TWO BANKERS ARE GIVEN 30 MONTHS JULIUS C. PETERS AND R. B. NOBLE MUST DO TIME IN FEDERAL PRISON. Were Officials of Failed Commercial National Bank of Great Falls, and Prominent in Northern Montana Financial World. Julius C. Peters and R. B. Noble, directors of the Commercial National bank of Great Falls were found guilty in the federal court of making false entries in the books of the bank, were sentenced by Judge George M. Bourquin to two and a half years at Leavenworth, and fined $2,500 on the first count and the same time sentence on the other 24 counts, the sentences in the penitentiary to run concurrently. Julius C. Peters is a young lawyer of Great Falls who has met with unusual success in a financial way within the past few years, being president of the Homestake Oil company of Cat Creek, the Homestake Exploration company, in the Kevin-Sunburst, and the Hard Rock Oil company of Salt Creek, Wyo., and was rated at the time of the bank failure, October 4, 1922, as a millionaire, the Cat Creek company alone bringing in 17 wells without a dry hole. He is a son-in-law of L. H. Hamilton, president of the closed bank, a pioneer sheep man of the northern part of Montana and who sold a part of his sheep and land holdings a few years ago for $400,000. R. B. Noble has lived for 30 years in Great Falls, is head of the Noble Mercantile company, the largest retail grocery house of Great Falls; cwns many ranches and city property; was chairman of the Great Falls school board, former alderman, president of the West Side bank, and prominent in civic life of the city for a quarter of a century. Peters is a man 36 years of age, and has a wife and three children, while Noble is 58 and has a wife and nine children living.


Article from The Circle Banner, December 28, 1923

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TWO BANKERS ARE GIVEN 30 MONTHS JULIUS C. PETERS AND R. B. NOBLE MUST DO TIME IN FEDERAL PRISON. Were Officials of Failed Commercial National Bank of Great Falls, and Prominent in Northern Montana Financial World. Julius C. Peters and R. B. Noble, directors of the Commercial National bank of Great Falls were found guilty in the federal court of making false entries in the books of the bank, were sentenced by Judge George M. Bourquin to two and a half years at Leavenworth, and fined $2,500 on the first count and the same time sentence on the other 24 counts, the sentences in the penitentiary to run concurrently. Julius C. Peters is a young lawyer of Great Falls who has met with unusual success in a financial way within the past few years, being president of the Homestake Oil company of Cat Creek, the Homestake Exploration company, in the Kevin-Sunburst, and the Hard Rock Oil company of Salt Creek, Wyo., and was rated at the time of the bank failure, October 4, 1922, as a millionaire, the Cat Creek company alone bringing in 17 wells without a dry hole. He is a son-in-law of L. H. Hamilton, president of the closed bank, a pioneer sheep man of the northern part of Montana and who sold a part of his sheep and land holdings a few years ago for $400,000. R. B. Noble has lived for 30 years in Great Falls, is head of the Noble Mercantile company, the largest retail grocery house of Great Falls; cwns many ranches and city property; was chairman of the Great Falls school board, former alderman, president of the West Side bank, and prominent in civic life of the city for a quarter of a century. Peters is a man 36 years of age, and has a wife and three children, while Noble is 58 and has a wife and nine children living.


Article from The Circle Banner, June 27, 1924

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Receiver Announces Dividend Announcement is made by Receiver T. E. McClintock of the Commercial National bank of Great Falls, which closed its doors October 5, 1920, that a dividend of 15 per cent will be paid within the next two weeks, the dividend checks now being in Washington for signature. The total of the dividend, which is the first to be paid, amounts to $220,000.