f2d50417Full suspension, Books examined
Other: Receivership and liquidation followed closure; bank fixtures auctioned and receiver appointed.
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FOUR MONTANA BANKS CLOSE THEIR DOORS HELENA Mont., Dec of national closed doors Montana last hours The State bank examiners office Nashua Malta; the Valley State bank Hinsdale, and the Nationbank. The banks total stock Arnott president of the which officials said controlled Sheldon brothers of Minneapolis
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STATE BANK CLOSES ITS DOORS Monday at 1:00 P. M., the State Bank of Nashua closed its doors for an indefinite period. The reason, as far as can be learned, it was closed to stop a run on the Bank. At present it is not learned whether they will reopen or not. A receiver is expected almost any day to take over the business. GLASGOW NATIONAL BANK CLOSES ITS DOORS HINSDALE BANK CLOSES ITS DOORS MALTA FIRST NATIONAL CLOSES ITS DOORS Sheldon Brothers have heavy interests in these banks The Glasgow National Bank of this city voluntarily closed its doors at 11 a. m. Monday, by order of its board of directors. This bank is associated with the First National bank of Malta, the Valley County bank of Hinsdale and the State Bank of Nashua, all of which closed on account of inability to realize on their outstanding loans. The officers of the Glasgow National bank feel that a reorganization of the bank will be effected within a comaratively short time and the bank
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FOUR BANKS CLOSED IN MONTANA TOWNS Helena, Mont., Jan. banks in Montana, with a total capital of $185,000, have been closed in the past week, it was revealed at the state bank examincr's office here. The institutions were the State Bank of Nasau,the First National Bank of Malta, the Valley County State bank of Rinsdale and the Glasgow National Bank. They are said to be controlled by Sheldon brothers of Minneapolis.
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SCOBEY SENTINEL BROKE THE BANK The Scobey Sentinel recently printed the story given below in explanation of the closing of the SheldonArnot banks December 28th. We give the answer to it first There is not a scintilla of truth in it. first place, Phillips county did not have $75,000.00 in The First National bank to draw out. In the second place, The First Na tional bank didn't have much more than $75.00 with which to pay the money Phillips county did have in the bank, according to the best local information available. In the third place, the father of the county treasurer has been dead for a number of years, and the idea that the county treasurer started a run on the bank because the bank foreclosed on his father is therefore the reductio absurdum. In the fourth place, SO far as the records show, no sort of foreclosure proceedings had anything to do with the closing of the bank. In the fifth place, there was no run on the bank. because every depositor who had any considerable sum in the bank knew its weakness and was there fore afraid for its own sake, if for no other, to start run, and, because further, that he was probably told by the bank officials that if he insisted on having his money the bank would have to close. This was certainly true of the City of Malta, which had $7,000.00 on deposit there, and of Phillips county, which had approximately $50,000.00. In the sixth place, and in all the other places, the article is untrue because nobody in Malta was really sur prised at the bank's closing, and most people had wondered for two years how it ever managed to stay open. Read the brilliant story in the Scobey Sentinel and laugh: REPORTS SAY BANKS GOOD "Although conceded to be perfectMy solvent, three banks in Valley county and one bank in Phillips county closed their doors Tuesday and Wednesday in threatened runs. These are the Glasgow National Bank: the First Natlonal Bank of Malta: The State Bank of Nashua and the Valley County bank of Hinsdale, Malta being in Phillips county and the others in Valley county. "The banks included in this closing part of string of banks owned by the Sheldon Bros. of Minneapolis and E. Arnot, the latter being president of the "The Malta bank was the first one to close its doors, the action being voluntary one. It is alleged that the bank of Malta foreclosed on some propowned. local party in that city. That party's son according to a report in circulation here, Is the county treasurer of Phillips county. He Is said to have withdrawn $75,000 of county deposits from the Malta bank following the foreclosure procéedings, and when this became noised around among the people it started a run on the bank. In order to sufe guard the interests of the depositors Mr. Arnot closed the bank. The state of affairs in Malta had in the meantime become known in Glasgow, and a run started there and insted an hour before the bank at that place was also closed. and in anticipation of runs on their banks Mr. Arnot called the bank at Nsahun and Hinsdale on the phone and had the doors closed until the examiner could have chance to go over their affairs and see how they "These banks have always been known as strong financial institutions and were wholly solvent during the days when good banks were actually failing. It is certain that as soon ns the examiners complete their work and report will that the banks are solvent, they be re-opened again. The loss of the deposits from the county would not have been noticed had it not been accompanied by a Panic among Multa depositors, circumstance that would break the strongest bank unless checked. "We have been at some pains to verithe details of this story and do not want anyone to feel that we are trying to belittle anyone's character. If the reports coming in are true, It would seem that Phillips county needs new as It serious thing to shake the solvency of a because It may mean the of ruin demany
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SACO CHILD DIES TUESDAY IN GLASGOW Howard Henry Schultz, the three- chairman of the county of Mr. Mrs. Henry mittee, then report. read Schultz of Saco ,died Tuesday morn- some very appreciative comments the Deaconess hospital, where the recently published volume upon had been brought few days pre- local history. She reported viously, already very that the sale the books far stage of meningitis. The baby been quite asked the born 1922. An eighteen of various clubs co-operation months old brother seriously the remainder. collecdisposing and being cared for at the Rapp tion taken for the federacounty hotel by Mrs. Stella Jennings. The tion treasury replace small sum funeral was held Wednesday after- lost by the closing the State Bank noon the Chapel, conducted by the of Nashua. The collected was Rev. Bartlett, and interment greater than the sum lost. The made in the Glasgow cemetery. vitation of the Sunflower Art club of
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SELL BANK FIXTURES Nashua.-All furniture and fixtures of the former State Bank of Nashua were sold at public auction Saturday afternoon in the bank building, with the receiver, James O. Weaver, in attendance. Col. E. F. Jacobs was the auctioneer. About 35 men were in attendance at this sale.
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WEAVER RESIGNS; SHEA APPOINTED BANK RECEIVER of Business Cause of ResAnnounces Removal to River Bank Building. Weaver, who has been acting receiver for the defunct Valley County Bank of Hinsdale and State Bank Nashua, tendered his resignation to Judge Borton on Tuesday of this week and Attorney James Shea, who has been acting as liquidating for the Milk River Valley bank agent appointed his Mr. Weaver advises that press personal business coupled with the fact that he will be obliged to leave state in short time period several weeks to look after some business matters in the east, was the immediate cause his resigning. In the interest of economy in overhead Mr. Shea that the office of receiver of the two state banks be moved to the Milk River Valley bank building. The bining of the office the three banks will do much toward keeping down the to the difexpense ferent institutions.
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J.T. Shea Is Appointed Receiver of Two Banks Nashua-Attorney James T. Shea of Glasgow has been appointed the receiver of the former State Bank of Nashua and the Valley County State Bank of Hinsdale by Judge C. D. Borden. He succeeds Attorney J. O. Weaver of Glasgow, who has been acting in that capacity for the past four months, but resigned because he is obliged to be out of the state for several weeks. Mr. Shea is acting as the liquidating agent for the Milk River bank of Glasgow and his combined office will be in the Milk River Bank.
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facts as to what officers or officer of the said State Bank of Nashua delivered said certificates of deposit or under what circumstances they were delivered, and hence is unable to arrive at any conclusion as to whether any officer of the State Bank of Nashua has violated any of the laws of the State of Montana in respect thereto; and accordingly leaves this matter to the court, with the recommendations that the court hold said matter open for such further investigation as the court may deem advisable at such future time as the court or proper officers of Valley County may receive additional information upon said matter. "It appears that small withdrawals were made from the savings accounts of the children of S. M. West shortly before the bank closed. Mr. West stated he would see that these items were returned and the grand jury suggests that the receiver take this matter up with Mr. West. The same Wright. is true in respect to Mr. Geo. "It also appears that on or about December 26th or 28th, Lee Bros., and Nashua Hardware & Implement Company gave a check on their deposits in the State Bank of Nashua and checks on certain other banks were exchanged for customers' notes, belonging to said State Bank of Nashua, and amounting to something over $4,000. The grand jury recommends that the receiver take this matter up with Lee Bros. and Nashua Hardware & Implement company to see if some amicable settlement cannot be made or an appropriate civil action commonced to determine what are the rights of the bank. "That said grand jury has likewise inquired into certain alleged infractions of the election laws pertaining to the last election for trustees, held in the Rose Hill school district in Valley County, Montana, and that it is the opinion of said grand jury that the evidence presened to it is insufficient to warrant a prosecution of said alleged infractions in the district court of this county. "That upon investigation, said grand jury finds no violations of the game and fish laws of the State of Montana to report. "The grand jury further desires to state that the various county officers have been courteous to the grand jury in exhibiting their various records, and have at all times fairly and properly endeavored to assist the grand jury in ascertaining and finding any facts they desired information upon. The above foregoing report is respoctfully submitted to the district court of Valley County, Montana. "Dated at Glasgow, Montana, this 11th day of June A. D. 1926. "CHRIST BJELLAND, "Foreman of the Grand Jury.
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NOTICE IN THE MATTER OF THE RECEIVERSHIP OF THE STATE BANK OF NASHUA, a corporation. NOTICE IS HEREBY GIVEN that all persons having claim against the above named Bank must file the same with the Receiver thereof at hisoffice in Glasgow, Valley County, Montana within three months from the date of the first publication of this notice and in the event of the failure to file claim within said period the Receiver may lawfully reject and dis-allow thesame. If the claim is based upon a written instrument the same should accompany and be filed with the claim. Date of first publication the 5th day of July, 1926. JAMES T. SHEA Receiver,of the State Bank of Nashua, a corporation.
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NOTICE IN THE MATTER OF THE RECEIVERSHIP OF THE STATE BANK OF NASHUA, corporation. NOTICE IS HEREBY GIVEN that all persons having claim against the above named Bank must file the same with the Receiver thereof at office in Glasgow, Valley County, Montana within three months from the date of the first publication of this notice and in the event of the failure to file claim within said period the Receiver may lawfully the same. If the claim is based upon a written instrument the same should accompany and be filed with the claim. Date of first publication the 15th day of July, 1926. JAMES T. SHEA Receiver of the State Bank of Nashua, a corporation.
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SUMMONS In The District Court of the Seventeenth Judical District of the State of Montana, in and for the County Valley. Thaddeus Ulaky: Agnes Ulsky, his wife; State Bank of Nashua. Montana, corporation; James T. Shea, Receiver of State Bank of Nashua; The First National Bank of Paynesville, Minnesota corpo ration; Valley County, body politic and corporate; Defendants. loe Ulsky: The State of Montans to the above named defendYou are hereby summoned to answer the com plaint in this action which is filed in the office of the Clerk of this Court, copy of which is hereand to file answer and with served upon you, your serve acopy thereof upon the plaintiff's attorneys, within twenty days after the service summons, exclusive of the day of service; and in case of your failure to appear answer, judgment will be taken against you by defaultfor the relief demanded in the complaint. That the nature and object of the above entitled action is to foreclose and determine the lien certain mortgage on dated 1918, made, executed, knowledged and delivered said defendants Thaddeus Ulsky and Agnes Ulsky, as mortgagers, to State Bank of Nashua, a corporation, mortgagee, which mortgage was thereafter by mesne written assignments, duly assigned berein: which said mortgage was duly recorded in the office of the Clerk and Recorder of Valley County. Montana. on April 1918, at A. M., foreclose the equity of redemption of said defendants above named, and each of them. and all persons claiming any interests in or lien upon said real estate through or from them. or either of them. in the following described premises, to-w it: Southwest Quarter and the Half the Southeast Quarter Section Thirteen (13). in Twenty-cight (28) North, (42) East Montana Meridian, Range Valley County, Montana, contain more or according to beGovernment Survey there together all the hereditaments and * my hand and the seal of said Court this 13th day of lanuary A. (SEAL) B. Christopherson Clerk Attorneys for Plaintiff. Feb. 17
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ALIAS SUMMONS In The District Court of the Seventeenth Judicial District of the State of Montana, in and for the County of Valley. The First National Bank of Nashua. Plaintiff. corporation, Defendants. The State of Montana to the above named defendants: You are hereby summoned to answer the complain. in this action which is filed in the office ol the Clerk of this Court, copy which is herewith served upon you, and to file.your answer and serve copy thereof upon the plaintiff's attorneys, within twenty days after service summons, exclusive of the day of service; and case of your failure to appear answer, judgmentwill be taken against by delauit for the relief demandedi the complaint. an action to foreclose mortgage, dat February 18th, 1922 upon the East of Lot Eight Block Seven of the Original Townaccording to the plat of and site on file the office of the Clerk and Recorder of valley County, Moutana, with all the hereditaments and appurtenances belong ing. given by the defendants, J. C. Johnson and his wife. Olava Judgment sought against the defendants. Johnson and Olava Johnson for $1528 89 with interest thereon the often per cent. per annum from February 18, 1922; for $3.00 for abstract of title: $100.00 reasonable attorney's fee and for costs. That bedecreed that the property be sold and the proceeds applied towards the payment of costs sale and amount found due to the plaintiff and that judgment be entered for any deficiences; that the defendants be foreclosed of all right, title and interest said property: that the purchaser the property may have immediate poss asion and the rents, issue and profits thereof. and for such further If as to the Court may seem equitable Witness my hand and the seal of said Court this May. 1927. 10th. Christophersen (COURT SEAL) Clerk Weaver Attorney the Plaintiff Glasgow Pub. May 12 19 26 and June AMENDED SUMMONS In the District Court of the Seventeenth Ju dicial District of the State of Montana, in and for the County of Valley. The Minnesota Loan and Trust Company Plaintiff corporation. State Bank of Nashua, corporation: James T. Shea, Receiver of State Bank of Nashua Farmers Lumber Company, a corporation Nashua Implement Company, Bank National of The First corporation: corporation: First Paynesville, National Bank Minneapolis, Minnesota, body politic Valley corporation: and corporate: Sheldon Brothers Company Company Northern a Defendants corporation; OF MONTAN Sends Greetings to the Above Named Defendants. and to Each of them: You are hereby summoned to answer the complaint in this action which is filed in the office of the Clerk of this Court. copy of hich is served upon one of you in each County wherein of you reside and to file your answer and serve CODY thereof upon the plaintiff's attorneys within twenty days theservice of this Summons. exclusive of the day of service and case of your fail ure appear or Judgment will be taken against you, by default, for the demanded in the complaint That the nature and object of the above entitled action is to foreclose and determine the lien of certain mortgage on real estate dated September 13th, 1919, made executed. and delivered by one Stanis law Klesny, as mortgagor, to the State Bank of Nashua. a corporation, as mortgagee was thereafter. by written assignment. duly assigned to plaintiff herein: which said mortgage was duly recorded in the office of the Clerk and Recorder of Valley County Montana. on October 23d. 1919 4:25 'elock in Book 76 of Mortgages, on pages and also LO foreclose the equity of redemption of said defendants above named, and each of them, and all per sons or claiming any interest in lien upon said real estate through or from them, or either or any of them.in and to the following described real estate, to wit: South half Quarter [S% NWM], Norlh Half of Southwest Quarter Southeast Quarter Southwest Quarter (SEWSWM Southwest Quarter of Southeast Quarter the Northeast Quarter of the Northwest Quarter (NE%NW); aud Northwest Quarter Northeast Quarter WNEW] of Section Twenty-six [26]. In Township [28] North, Range Forty one (41). East Meridian. Valley more or less. according to the Govern ment Survey thereof: together with all the hereditaments and appurtenances thereunto belonging or in any wise appertaining. itness my hand and the Seal of said Court this 15th day of April 1927. J. Christophersen, [SEAL] Clerk McKenzie McKenzie ttorney for Plaintiff, Great Falls, Montana. Pub. June 16.
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SUMMONS In The District Court of the Seventeenth Jud icial Districtof the State of Montana, in and for the County of Valley. Mary C. Libby, Plaintiff VS \rthur Sharples: Frances B. Sharples. his wife: State Bank of Nashua. Montana, a corD ration: James T. Shea, Receiver of the State Bank of Nashua; Sheldon Brothers The First National Bank of cor. poration: Northern Farms Company, corDefendants poration: THE STATE OF MONTAI Sends Greetings the above named de(endants. and to each of them. You are hereby summoned to answer the complaint in this action which filed in the office of the Clerk of this Court, copy of which is hereby served upon one of you in county wherein any of you reside, and to file your and serve copy thereof upon the plaintiff's attorneys within twenty days after service of this Summons, exclusive of the day of service; case of your failure to appear or answer. Judgment will be taken against you. by default, for the relief demanded in the complaint. That the nature and object of the above entitled action to foreclose and determ'n the lien of acertain mortgage on real estate, dated September 8th. 1919, made, executed, and delivered by said defendants Arthur Sharples and Frances B. Sharples, as mortgagors to State Bank of Nashua. Nashua, Montana, a corporation, as mort gagee. which mortgage was thereafter, by mesne writt assi, nments, duly assigned to plaintiff herein: which said mortgage was duly recorded in the office of the Clerk and 73 Mortgages, on pages and also foreclose the equity of redemption of salo named. and each of them and all persons parties claiming any inter or lien upon said real estate through them, or either or any of to the described real estate. to-wit: South Half of the Northwest Quaiter and the Northwest Quarter of the Quarter [NWNWMM] of Section Fourteen [14]. in Township ty-eight [28] North. Range Forty-two [12]. East Montana Meridian. Valley County. Montana, containing 120 acres. more or less. according to the Government Survey thereof: together with all the hereditabements and appurtenances thereunto longing or in any appertaining Witness my handand the Seal of said Court this 9th day of April B. Chrisrtophersen. Clerk. Attorneys for Plaintiff. Great Falls, Montana.
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Happenings Near Home Ship North Country Wool.-A. T. Olson, manager of the North Country Wool Pool, has begun shipment of 13,000 fleeces from Opheim, Richland and Peerless to a Boston wool firm, represented by B. P. Langen of Glasgow. Visitor from Germany.-Mr and Mrs. Quast of Glentana have had as their guest, Mrs. Quast's cousin, Paul J. Giese of Hamburg, Germany, who is en route to Seattle to go into the exporting business. He has been at Columbia university for the last year preparing for his work. Mr. Geise attended the rodeo at Glasgow and was interested in the exhibition which he says was entirely different from anything he had ever seen. America appears to him to be a land of unlimited opportunity. Back from North Dakota.-Mr. and Mrs. J. J. Baker and son of Lustre, accompanied by a daughter, Mrs. Richard Nyquist of Froid, have returned from a visit at their old home in Munich, N. D. Mr. Baker says: "Montana for me. I wouldn't want to farm my old home place now." NOTICE OF SHERIFF'S SALE In the District Court of the Seventeenth Judicial District of the State of Montana, in and for the County of Valley. The Minnesota Loan & Trust Co., a corporation, Plaintiff, Robert Bogle; Grace Bogle, his wife; State Bank of Nashua, Montana, a corporation; James T. Shea, Receiver of State Bank of Nashua, Montana; First National Bank of Minneapolis, Minnesota, a corporation; Phillips County, a body politic and corporate; R. G. Monroe, successor to W. G. Schneider, City Treasurer of the City of Malta; The City of Malta, Montana, a corporation; Farmers Lumber Company, a corporation; H. A. Streeter, receiver of the Glasgow National Bank, Defendants. To be sold at Sheriff's sale at the in front door of the Courthouse Glasgow, Montana, July 28th, A D. 1927, at the hour of two (2) o'clock p. m., the following described real property; to-wit: Southeast quarter (SE%) tion three (3); and the West half of the Southwest quarter (W 1/2 SW ) of Section two (2), in Township twenty-eight (28) North, of Range forty-two (42), East Montana Meridian, containing 240 acres, more or less, according to the Government Survey thereof; together with all the hereditaments and appurtenances thereunto belonging or in anywise appertaining. Dated this 29th day of June, A. D. BEN OLSON, Sheriff. Building New Barn.- C. Lunstad of Opheim is The g TH TH I stad is constructing a new barn, 52x 72 feet, on the farm of Jorgen Isakson.