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CLOSED BY EXAMINERS Rumors Indicate Reasons Other Than Money Stringency-Has Big County Deposits Producers News-The Sheridan County State Bank failed Saturday. The State Bank examiners arrived in Plentywood, coming from Scobey last Friday afternoon and commenced examining the books of that bank and at 10:00 o'clock Saturday morning, a had made exafter quite heavy number deposits, of people the aminers put up a sign written on the bank stationery, in the glass of the door with the information "Run Short of Money, Bank Closed for Today," but with no signature on the notice. The news spread rapdily about town, but most people did not worry, that reserve run low and curthinking that by the Monday morning had rency would be on hand and that the bank would open again for business. In the meantime the wildest sort of rumors were set afloat and before night it was claimed that the condition of the bank was very serious. The fact of the closing of the bank simply dumfounded the people because was on hardly of yet the dry fact that articles the published ink in the press of the state by Bank Examiner McGraw stating that the banks of the state were in splendid condition and that the total reserve of the banks in the state had increased over two millions of dollars, and because of the fact that the banks of Sheridan county had only been examined about a month ago, everybody in Sheridan county was resting easy, having implicit faith in the state bank department. Hundreds of local people have their all in the closed bank, and the failure of that institution has cast a dark cloud over the holiday season in Sheridan county. The closing of the Sheridan County State Bank came as a thunderbolt out of a clear sky as that institution was considered one of the strongest banks in eastern Montana. Depositors Will Be Paid W It was announced by employees of f the bank Wednesday that T. L. Beisti of the bank of Fesa N. D., he senden, eker, president telegraphed that that all would see to it the in would be paid a that the depositors It is personally rumored off bank in full. has been looted and that the books and records of the bank have been altered and falsified to disguise the unlawful transactions. It is rumored that while the county has $265,000 on deposit in the closed bank, the examiners discovered that the bank books showed that there was only $75,000 credited to the county in the bank. McGraw Arrives The conditions existing are so serous that State Bank Examiner McGraw himself came to Plentywood Wednesday morning on the train to ake personal charge of the bank, While it is claimed that the bank vill be re-organized by officers of the ank, this is generally doubted by he general public because of the tringent financial conditions of the puntry generally. County Badly Involved It also seems that the sinking fund f Sheridan county is badly involved S it is alleged that $265,000 of that und is in that bank. It is reported at the county bank held a surety ond for the closed bank in the sum : $125,000 and a personal bond gned by T. L. Beiseker and L. G. eidler in the sum of $50,000, and cond bond in the same amount gned by the same parties and a ird bond in the sum of $50,000 ed in October, signed by T. L. Beiser and Cashier C. J. Beiseker, hich was supposed to be a tempory bond for use during the flush ason. It is alleged that the bondsen are in for a loss, and it is rumed that County Treasurer Movius d his bondsmen are also legally reonsible because of the fact that he si violated the law in placing the mount of money that he has in one nk, and it is also claimed on good thority that the county commisners and the county attorney are o jointly liable for any loss that : county may sustain by reason of ir neglect in complying with the v and in seeing that the law is comed with. It seems very likely at this time t the county deposits are perfectsafe, and that the county will susno loss.
