11507. First National Bank (Poplar, MT)

View Charter #10885 on SPMC

Bank Information

Episode Type
Suspension → Closure
Bank Type
national
Bank ID
10885
Charter Number
10885
Start Date
October 7, 1921
Location
Poplar, Montana (48.113, -105.198)

Metadata

Model
gpt-5-mini
Short Digest
017f0fa0

Response Measures

None

Receivership Details

Date receivership started
1921-11-09
OCC cause of failure
Fraud
Share of assets assessed as good
33.9%
Share of assets assessed as doubtful
46.9%
Share of assets assessed as worthless
19.2%

Description

No article describes a depositor run or heavy withdrawals triggering events; instead the bank repeatedly suspended/closed due to insolvency and was placed in receivership (Nov 1921), later reorganized/reopened (Oct 1922), then again suspended/insolvent and placed in receivership (Dec 1923) and proceeded to liquidation/legal actions through 1924-1926. OCR errors corrected (e.g., Crissinger -> Crissinger, receiver V. M. Smith references). Dates taken from article text/headers.

Events (10)
1. August 11, 1916 Chartered
Source
historical_nic
2. October 7, 1921 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Bank was insolvent/badly broke; investigations of paper and deposits; county funds implicated; bank closed for insolvency rather than a rumor-driven run
Newspaper Excerpt
the bank actually suspended about the 7th of last month
Source
newspapers
3. November 9, 1921 Receivership
Source
historical_nic
4. November 18, 1921 Receivership
Newspaper Excerpt
First National Bank of this city was yesterday placed in the hands of a receiver by D. R. Crissinger, comptroller of the currency ... V. M. Smith ... named receiver and took charge of the bank yesterday night and took charge of the bank interests made an effort to reopen the bank without going through the formal process of appointing a receiver.
Source
newspapers
5. January 26, 1922 Other
Newspaper Excerpt
stock holders are proposing that the depositors accept certificates of deposit, payable in two years, for fifty per cent of their claims against the bank. It is a known fact that the bank is badly broke and that the receivership ... has an overhead expense that will in time obliterate the little cash that is now held in the vault.
Source
newspapers
6. October 10, 1922 Reopening
Newspaper Excerpt
First National of Poplar Will Reopen Soon ... it is almost an assured fact that the First National Bank of this city will reopen at an early date, possibly by the first of next month.
Source
newspapers
7. November 28, 1922 Restored To Solvency
Source
historical_nic
8. December 14, 1923 Receivership
Newspaper Excerpt
On December 14, 1923, the bank again became insolvent and a receiver was appointed.
Source
newspapers
9. December 15, 1923 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Bank again insolvent; prior reorganization had accepted large concessions from depositors; inability to furnish surety bonds and ongoing insolvency problems
Newspaper Excerpt
On the 15th the First National Bank of Poplar suspended business for the second time in about two years.
Source
newspapers
10. December 17, 1923 Receivership
Source
historical_nic

Newspaper Articles (18)
1. November 18, 1921 The Producers News Plentywood, MT
Article from The Producers News, November 18, 1921

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Article Text

FIRST NATIONAL BANK OF POPLAR PLACED IN HANDS OF RECEIVER After being closed since October detailed checking of all the bank's 21st, pending an investigation, the paper. After his investigation had been conducted for some time the diFirst National Bank of this city was rectors and the stockholders of the yesterday placed in the hands of a bank were called in for consultation receiver by D. R. Crissinger, comptroller of the currency, says the Popand it was given out unofficially that the institution's affairs were not in a lar Standard. V. M. Smith, who has been in Poplar for over a year liquisatisfactory condition. dating the affairs of the Farmers Mr. Otto Ramstad, cashier, and Mr. W. A Vosbeck. vice president of the Mcrcantile store, has been named receiver. Mr. Smith received his apbank, retired from the active manpointment from Washington Wednesagement of the bank following the day night and took charge of the bank suspension and for some time after interests made an effort to reopen the yesterday morning. L. L. Madland, that the local stockholders and outside the national. bank examiner, who has been in charge of the bank since it bank without going through the formwas closed in October expects to leave al process of appointing a receiver. For reasons that have not been given here tonight or tomorrow. out this was found to be imposible "I cannot make any detailed stateand the action taken yesterday was ment at this time other than to say the result. that we eventually hope to work out Coming at this time the closing of a plan of reorganization," said Mr. the bank is a sad blow to the commuSmith yesterday, following his apnity and the people generally of this pointment as receiver. Mr. Smith's territory. The bank had always enappointment was anticipated by those joyed a good business and the deposwho have been in touch with the its totaled into the thousands. bank's affairs. Two weeks ago he There is no telling how long it will was given charge of the federal bank take to check the paper but Mr. Smith paper in the Poplar bank and since expects to adress himself to the task that time he has been checking it. at once and hopes to make a report Mr. Smith has had a wide experiwithin the next few months. ence in liquidating the affairs of comMr. Ramstad said yesterday that mercial concerns and during the past his immediate plans were uncertain ten years has handled some big deals but that he expected to make this of this nature. part of the country his home and would probably engage in the sheep As stated, the First National Bank business. has been closed since the 21st of last Mr. Vosbeck said two weeks ago month. It is said that the- bank acthat he had several jobs offered him tually suspended about the 7th of last month. Prior to that time Mr. Fred away from Poplar and that he also had a proposition in mind that would Williams, of the federal reserve bank keep him here, but at that time he was at Helena, came here to check the paundecided just what to do. per. held by the Montana institution Mr. Olaf Ramstad, president of the in the First National. Some time afbank, was expected to arrive from ter his arrival L. L. Madland, a federhis home in Thief River Falls, Minn. al bank examiner, arrived here and last night or this morning. together with Mr. Williams began a

2. November 24, 1921 The Wolf Point Herald Wolf Point, MT
Article from The Wolf Point Herald, November 24, 1921

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INVESTIGATING BANK AFFAIRS AT POPLAR Poplar Standard- National Bank Examiner L. L. Madland, who has been in Poplar for the past six weeks making an investigation of the affairs of the First National Bank, has finished his work and turned over all papers to Mr V. M. Smith, the receiver. Mr. Smith is classifying the loans and preparing reports for the comptroller of the currency. He will make no statement at this time which is in strict accordance with a ruling of the treasury department in the case of a defunct bank. There is a representative here from a St. Paul bank and another man representing a Buffalo, New York bank, checking paper that these institutions rediscounted for the First National. Mr. Olaf Ramstad has also ben here for the past week going over paper and conferring with the receiver. He left today for his home in Thief River Falls, Minn., to attend to court matters, but/expects to return within a short time Mr. Otto Ramstad. left here yesterday afternoon for South St. Paul with a shipment of cattle.

3. January 26, 1922 The Wolf Point Herald Wolf Point, MT
Article from The Wolf Point Herald, January 26, 1922

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BANK MAY OPEN (Roosevelt County Independent) In an effort to open the First National Bank of Poplar, stock holders are proposing that the depositors accept certificates of deposit, payable in two years, for fifty per cent of their claims against the bank. It really amounts to take fifty per cent or nothing at all, for to secure a good reasonable party to take this bank in hand and place it once again upon a sound financial footing, it will be absolutely necessary that practically every depositor sign this petition. It is a known fact that the bank is badly broke and that the receivership, even with Mr. M. V. Smith at the helm, doing everything as economically as possible, has an overhead expense that will in time obliterate the little cash that is now held in the vault. The intricacy of the banking laws make it impossible at the present time to issue a statement in regards to the affairs or standing of the bank, such as a few of the depositors would like to have.

4. February 10, 1922 The Glasgow Courier Glasgow, MT
Article from The Glasgow Courier, February 10, 1922

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RECEIVER APPOINTED FOR POPLAR STOCKMEN'S. BANK Close on the heels of the news last week that the Stockman National Bank of this city had closed its doors, came the information that V. M. Smith had been appointed receiver of the institution by D. R. Crissinger, comptroller of the currency. Mr. Smith's appointment was officially announced Monday of this week. The books, papers and files of the Stockmans National have been moved to the First National bank building where Mr. Smith and Mr. Howard Alger, special representative of the Federal Reserve Bank, have been at work preparing reports and handling the affairs of the latter institution, which has been defunct since last October. By moving the books and files to the First National building it will be possible for Mr. Smith and Mr. Alger to handle the affairs of both banks from one ofice. The Stockmans National was formerly the First National Bank of Brookton and was moved to this city last October shortly after the First National of this city closed. The Stockmans National was closed a week ago last Monday, following a meeting of the board of directors.-Standard

5. February 10, 1922 The Producers News Plentywood, MT
Article from The Producers News, February 10, 1922

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son Searchlight, The Popiar Standard, The Wolf Point Herald and the Wolf Point/Promoter. Just why these papers ignored the article appearing in the Producers News is the big question in the minds o fthe taxpayers of Roosevelt County who now stand to loose every dollar which the county has collected in taxes, without a dollars worth of warrants called, because of what seems to be the criminal carelessness and faithlessness and duplicity f the officials of the: county. It may 1.0 that the exposare of the conditions existing in that cow. 1y took the breath of the different editors away, and that they were unable to collect their thoughts before the papers went to press. The Froid Tribune had time to set up a lot of free puolicity about an automobile price reduction in which nobody is interested juust now; the Poplar Standard resorted to a Ini of boiler Late in order to fill up; The Culbertson Searchlight had nothing of eny importance whatever in its columne; The Valley Tribuie did not arrive in the office of the Producers News this week, and both of the Wolf Point papers have machines and could have found the space to tell their readers of facts of so great consequence to their readers, had they made an effort. Maybe the current week will find the papers discussing the serious conditions existing in Roosevelt county. Don't Even Deny The Poplar Standard, the mouthpiece of the Roosevelt county political gang, did not even make a denial of the exlisting conditions alleged in the Producers News article, in behalf of the gang officials; the Traders State Bank published no denial of the allegation that that bank has on deposit many thousand dollars of county money as regular deposit without surety bonds and without even personal bonds, besides the sensational report that that bank, of which County Commissioner Patch is a heavy stockholder, had on deposit $79,000 in cashiers checks without a pretence of a bond and without drawing a. cents worth of interest for the county as provided by law. Tidland Silent Also County Treasurer Tidland, of Roosevelt County, the man who is responsible for the alleged conditions if itexists, has not a word to say in regard to theetaol $ not a word to say in the way of a. denial or otherwise, in regard to these reported illegal deposits of the peoples money without security, or in reference to the allleged defalcation of the warrants and mortgage securities deposited with Roosevelt county by defuunct First National Bank of Poplar, which it is now rumored was so badly broke when it closed its doors that the depositors to will probably get very little, if any, of f thei rmoney, as security for county den posits. Mr. Tidland's silence in the circumstances is remarkable and practica ally constitutes a confession of guilt to

6. February 10, 1922 The Producers News Plentywood, MT
Article from The Producers News, February 10, 1922

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SMITH IS RECEIVER FOR STOCKMAN BANK Poplar Standard: Close on the heels of the news last week that the Stockman National Bank of this city had closed its doors, came the information that V. M. Smith had been appointed receiver of the nstitution by D. R. Crissinger, comptrolloi of the currency. Mr. Smith' appointment was officially announced Monday of this week. The books, papers and files if the bockman's National have been moved to the First National Bank building where Mr. Smith and Mr. Howard Alger, special representative of the Federal Reserve Bank, have been at work preparing reports and handling the affairs of the latter institution, which has been defunct since last Cctober. By moving the books and files to First National building it will be possible for Mr. Smith and Mr. Al ger to handle the affairs of both banks from one office. The Stockmans National was formerlly the First National Bank of Brockston and was moved to this city last October shortly after the First National of this city closed. The Stockmans National was closed a week ago last Monday following a meeting of the board of directors. *

7. February 17, 1922 The Producers News Plentywood, MT
Article from The Producers News, February 17, 1922

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It Is Time To Learn The Facts (Continued from Page One) that everything connected with government hope the county possible and finances consid. is in the best shape ering the times but it might be just as well to make sure. "A public speaker, versed in such told a local muesmatters, county audience had overday night that this its funds nearly and to drawn that is something think $300,000, about. seat paper has reprinted mentioned "A the county story from columns the Prodcers News, and says its to any are open statement the to make. county treasurer may desire will be watched for with and general Such great statement interest. time for the taxpayers to facts and act in lear "It nthe is accordance with what is revealed." from the above article, that the existing It conditions seems Patch's relative Traders to deposits in Commissioner State Bank of Poplar, also exsts in reference to Von Hindy Weinrich's bank at Mondak/ Wolf Point Promoter Speaks Wolf Point Promoter also came the apalive The and printed entire News, article together pearing in the Producers Introduction as in County of with the Roosevelt the Independent with appearing other Poplar last week, but no comment. editorially or otherwise. Other Papers Silent the Roosevelt the following t o pendent Although printed County la Producers st Inde- week of high as News an story introduction political the financing in Ros evelt County: financial every in "Stringent taxpayer RooseveIt condition county of for an answer W. to the charges cries L. Tidland aloud from from the The lion who has been sleepthe foul odors of rumor ing north in search of prey, has stalked forth, not in but fo rthe purpose of his own. "The Roosevelt County Independent stands absolutely for the people of Rocsevelt county and their inests. article taken from News; the "The Producers following has caused considerable excitement and talk in the city of Poplar and the Roosevelt County Independent holds its for any columns open (signed) Tidland, state ment of facts from W. L. or any others." Yet, the gang papers of Roosevelt viz: The Froid Tribune, The Tribune, The and The Poplar county, light, Valley Culbertson Standard. Search- did not to even take notice on of the above paper deign the part of the in state- offer the article to print any "signed W. L. Tidland or any ment above of others,' manner nor even did they deny in any the truth of the article appearing in the columns of the Producers News, but by silence admitted in to the shameful conregard their the criminal allegations to be true. ditions existing n that county Tidland Does Not Deny County Treasurer Tidland last week even deny the serious charges himself contained in the against did not columns to the of the Producers News in regard of the treasury of of worth of over looting $17,000 securities the county in given the that county to secure deposits First National Bank of Poplar now defunct, which charges accuses him of beand if the he does not ing true, a which felon. alleged deny. they facts mean are that he is a felon-did not deny those charges when even challenged to do so by Roosevelt County Independent. but guilty by silence. Not Yet the First rather Warrants pleads his Called that the first issued Roosevelt county yet It appears by issuing have warrants of not fundben unless by the ing and that all money collected the county paid, bonds, by from of the taxpayers, has not to pay the of but'rather the been county. used. has obligations been used to finance banks of questionable solveney, in which County Commissioner Patch and Weinrich are inteersted-just how old some of the outstanding warrants are, is well illustrated by the following article taken from locals of the Roosevelt County Independent: "John A. McCann of Culbertson, here a warrant that was was county a visitor Tuesday to issued stated renew three years ago. Mr. McCann that he had carried the warrant around until it was worn out once before, and had been forced to have it renewed; he had carried the re-

8. July 21, 1922 The Producers News Plentywood, MT
Article from The Producers News, July 21, 1922

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in the state. POPLAR BANK SAFE STILL UNOPENED Poplar Standard: The First National Bank safe bobbed up again this week when Receiver V. M. Smith, following instructions from the Comptroller of the Currency started to ship the safe, which has been locked since the closing of the bank, to Minneapolis to be opened by experts in a safe company at that place. The safe was taken to the depot and it was found that the railroad company would require a release from liability while the safe was in transit and as the receiver had no authority to release the railroad company the safe was again returned to the bank. Mr. Smith states that he has again taken the matter up with the comptroller for instruction. Several weeks ago an attempt was made to open the safe by following instructions from the safe company, but without success. The safe company in Minneapolis state that they

9. October 6, 1922 The Circle Banner Circle, MT
Article from The Circle Banner, October 6, 1922

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IN THE DISTRICT COURT OF THE SEVENTH JUDICIAL DISTRICT OF THE STATE OF MONTANA, IN AND FOR THE COUNTY OF MCCONE. F. I. MCMAHON, vs. Plaintiff. LEVI PURMAN AND GARNET PURMAN, his wife, A. G. SIME, FIRST NATIONAL BANK OF CIRCLE, MONTANA, a corporation, and SECURITY STATE BANK OF WOLF POINT, a corporation, Defendants. To be sold at Sheriff's Sale on the twenty-eighth day of October, A. D. 1922, at the hour of 2:30 in the afternoon of said day, at the front door of the court house in Circle, McConè County, Montana, the following described property, to-wit: The north half of section fourteen (14) in township nineteen (19) north of range forty-four (44), east of the Montana Principal Meridian, together with all and singular the tenements, hereditaments and appurtenances thereto belonging, or in anywise appertaining. FLOYD DAVIS, Sheriff. ARNOLD, GRAHAM & PHILLIPS, Lambert, Montana, Attorneys for Plaintiff. First publication Oct. 6th, 1922. ### ALIAS SUMMONS IN THE DISTRICT COURT OF THE SEVENTH JUDICIAL DISTRICT OF THE STATE OF MONTANA, IN AND FOR THE COUNTY OF MCCONE. WELLS-DICKEY COMPANY, a corporation, vs. Plaintifr. CLAUDE E. CLAGETT AND WANITA M. CLAGETT, his wife; V. M. SMITH, receiver of the FIRST NATIONAL BANK OF POPLAR, a corporation; McCONE COUNTY, MONTANA and H. G. HARRIS, Defendants. THE STATE OF MONTANA 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, a copy of which is

10. October 13, 1922 The Producers News Plentywood, MT
Article from The Producers News, October 13, 1922

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First National of Poplar Will Reopen Soon Special to Producers News. Poplar, Mont., Oct. 10.-It is declared by those who are ina position to speak, that it is almost an assured fact that the First National Bank of this city will reopen at an early date, possibly by the first of next month. There are only a small number of depositors who have not signed up and it is expected that they will fall in line readily now that the re-opening of the bank is practically promised. One of the big eastern bond companies agreed to the terms this week which cleared away another matter that had to be settled before the institution could again function. Mr. Sam Strand of Minneapolis, one of the men who will be interested in the new organization and V. M. Smith, receiver of the bank, are in Chicago this week closing a matter connected with the bank and following their return it is believed that a definite announcement as to the date of reopening will be made.

11. March 30, 1923 The Circle Banner Circle, MT
Article from The Circle Banner, March 30, 1923

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NOTICE OF SHERIFF'S SALE IN THE DISTRICT COURT OF THE SEVENTH JUDICIAL DISTRICT OF THE STATE OF MONTANA, IN AND FOR THE COUNTY OF McCONE. SHERMAN R. HURLBUT, Plaintiff. vs. HIRAM E. JACOBSON, and HAZEL JACOBSON, his wife; FIRST NATIONAL BANK OF POPLAR, a corporation; and V. M. Smith as Receiver of said FIRST NATIONAL BANK OF POPLAR; G. A. JACOBSON AND JACOBSON, his wife. Defendants. To be sold at Sheriff's Sale at the front door of the Court House, in the town of Circle, County of McCone, State of Montana, on the 21st day of April, A. D., 1923, at the hour of two o'clock P. M., the following described real estate:The Southeast quarter of the Northwest quarter (SE½NW), the East half of the Southwest quarter ,E½SW), and Lots Three (3), Four (4), Five (5), Six (6), and Seven (7) of Section Six (6), in Township Twenty-one (21) North, Range Forty-nine (49) East of the Montana Principal Meridian, and containing 312.66 acres, more or less, together with all hereditaments, and uppurtenances thereunto belonging or in anywise appertaining. FLOYD DAVIS, Sheriff. By OTTO A. KING, Deputy. ULYSSES A. GRIBBLE, Attorney for Plaintiff, Helena, Montana. First publication March 30th, 1923.

12. April 13, 1923 The Circle Banner Circle, MT
Article from The Circle Banner, April 13, 1923

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# NOTICE OF SHERIFF'S SALE IN THE DISTRICT COURT OF THE SEVENTH JUDICIAL DISTRICT OF THE STATE OF MONTANA, IN AND FOR THE COUNTY OF MCCONE. SHERMAN R. HURLBUT, Plaintiff. vs. HIRAM E. JACOBSON, and HAZEL JACOBSON, his wife; FIRST NA- TIONAL BANK OF POPLAR, a cor- poration; and V. M. Smith as Receiv- er of said FIRST NATIONAL BANK OF POPLAR; G. A. JACOBSON AND JACOBSON, his wife. Defendants. To be sold at Sheriff's Sale at the front door of the Court House, in the town of Circle, County of McCone, State of Montana, on the 21st day of April, A. D., 1923, at the hour of two o'clock P. M., the following described real estate:- The Southeast quarter of the Northwest quarter (SE¼NW¼), the East half of the Southwest quarter ,E½SW¼), and Lots Three (3), Four (4), Five (5), Six (6), and Seven (7) of Section Six (6), in Township Twenty-one (21) North, Range Forty-nine (49) East of the Montana Principal Meridian, and containing 312.66 acres, more or less, together with all hereditaments, and uppurten- ances thereunto belonging or in anywise appertaining. FLOYD DAVIS, Sheriff. By OTTO A. KING, Deputy. ULYSSES A. GRIBBLE, Attorney for Plaintiff, Helena, Mon- tana. First publication March 30th, 1923.

13. December 20, 1923 The Wolf Point Herald Wolf Point, MT
Article from The Wolf Point Herald, December 20, 1923

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Sunday School Program The Catholic Sunday school program will be held at Kragrud hall on Sunday afternoon, Dec. 23, at 3:00 o'clock. It will be as follows: Welcome Jim Kelly Song-Oh, Little Town of Bethlehem Intermediate Sunday School class. Christmas Bells Recitation Evelyn Coffey Recitation Baby Jesus Eleanor Alrick Santa's Reindeer Recitation Melbourne Coffey How Christmas Came Recitation Harriet Severson Christmas Wish Recitation Mary Dela Hunt Christmas Star Song Primary S. S. Class Margaret The Christmas Story Alrick Christmas Time Recitation Marion Johnson and Patsy DeWane Old Santa Recitation Clifton Cook Silent Night Song Katherine Johnson and Tom Kelly At Christmas Time Recitation Francis Zemo Good Old St. Nick Recitation Georgie Weeks Serafin Lenz Saxophone Solo Christmas Candle Recitation Marion and Katherine Johnson Recitation My Christmas Wish Mark Grogan Come All Ye Faithful Song Senior Sunday School Class BANKS AT OSWEGO AND POPLAR CLOSE Two bank suspensions in nearby towns occurred last week and there are rumors of others but the news has not been verified. On the 14th the First State Bank of Oswego closed but details concerning the cause have not been learned. On the 15th the First National Bank of Poplar suspended business for the second time in about two years. At the time of the first closing it had some $34,000 of county funds among its deposits. Since it reopened no county funds have been deposited with it, so there is no additional loss. The present County Board have made every effort to have the bank furnish surety bonds as an additional protection for the $34,000, but the bank has not succeeded in doing so.

14. December 28, 1923 The Producers News Plentywood, MT
Article from The Producers News, December 28, 1923

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# BANK RE-ORGANIZATION Many of the banks that have failed during the past two years have been "re-organized" on one plan or another. All of these banks were solvent but were temporarily embarrassed because of the lack of money. In nearly every case of re-organization, the bank has again gone to the wall inside of a year. Take the banks close enough to us to be observed. The Sheridan County State Bank was re-organized on an exceptionally favorable basis for the bank: it is closed again and a new crop of depositors were hooked. Then the First National Bank of Poplar reorganized. The depositors accepted a 50 per cent loss and signed up for the rest for a period of two years at a very low rate of interest. New money was secured and another bunch of depositors were "stung." These re-organization failures could be repeated half a hundred times always with the same finale. The only thing that a re-organization does is to furnish a pie card to a few bank employes for several months at the expense of the depositors. Take a bank for example that has been sucked dry: the depositors sign up for three, six or ten years: the bank reopens, without a cent to pay the help. It can't borrow a dollar. At this time of the year it can't collect a cent, for collecting days are over, until after next harvest. There will be no new business. There will be no new loans. Where is the money coming from to pay the running expenses of the "re-organized" bank? It can only come from one source—new depositors. In other words the bank will open up and will stay open just as long as the new depositors bring money enough to the bank to pay the salary of the employes. When the suckers are all caught the bank can close again. The State Banking Department has by its policy contributed to the defrauding of many depositors out of their money—now in order to hand another "gold brick" to the confiding public, it is lending its name and prestige to re-organization buncos. It looks as if the reason for the re-organization of some of these banks is that there is not enough money available to pay a receiver and this method must be resorted to, in order to get the money to pay liquidating expenses.

15. May 16, 1924 The Circle Banner Circle, MT
Article from The Circle Banner, May 16, 1924

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# NOTICE OF SHERIFF'S SALE OF REAL PROPERTY IN THE DISTRICT COURT OF THE SEVENTH JUDICIAL DISTRICT OF THE STATE OF MONTANA, IN AND FOR THE COUNTY OF MCCONE. THE FEDERAL LAND BANK OF SPOKANE, a corporation, Plaintiff vs. BERTHA BOGUT and LEO L. BOGUT, wife and husband; PLEASANT VIEW NATIONAL FARM LOAN ASSOCIATION, a corporation; FIRST NATIONAL BANK, of Poplar, Montana, a corporation; and F. G. GEVERS, as Receiver of the FIRST NATIONAL BANK OF POPLAR, MONTANA, Defendants NOTICE IS HEREBY GIVEN, that I, the undersigned Sheriff of McCone County, Montana, pursuant to the order of sale in the decree of foreclosure entered in the above entitled action in the above entitled Court will, on Saturday, the 24th day of May, A. D. 1924, at the hour of two o'clock P. M. of said day, sell at public auction to the highest and best bidder for cash, in front of the Court House in the City of Circle, McCone County, Montana, the following described real property, situate in the County of McCone, State of Montana, to-wit: The South half (S½) of Section Ten (10), Township Twenty-five (25) North, Range Forty-nine (49) East of the Montana Principal Meridian. Dated at Circle, Montana, this the 24th day of April, A. D. 1924. FLOYD DAVIS, Sheriff of McCone County, Montana. HILDEBRAND & WARREN, Attorneys for Plaintiff, Glendive, Montana. First publication May 2nd, 1924.

16. December 11, 1924 The Wolf Point Herald Wolf Point, MT
Article from The Wolf Point Herald, December 11, 1924

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# NOTICE OF SHERIFF'S SALE In the District Court of the Twentieth Judicial District of the State of Montana, in and for the County of Roosevelt. Gladys Riley Ryan, formerly Gladys M. Riley, Plaintiff, versus Bernt Strand, a single man, Advance Rumley Thresher Company, a Corporation, The First National Bank of Poplar, Montana, a Corporation, Poplar Dome Development Company, a Corporation, Roosevelt-Fort Peck Oil and Gas Company, a Corporation, Sheridan County, a Body Politic and Corporate, and G. A. Lundeen, and F. G. Gevers as Receivers of the The First National Bank of Poplar, Montana, a Corporation, Defendants. To be sold at Sheriff's Sale on the 3rd day of January, A. D., 1925, at three o'clock P. M., at the front door of the Court House at Wolf Point, in said County of Roosevelt, State of Montana, the following described property, to-wit: The South Half (S½) of Section Six (6) in Township Thirty-one (31) north, Range Forty-eight (48) east, of the Montana Meridian, Montana, being situate in the County of Roose-

17. March 5, 1925 The Wolf Point Herald Wolf Point, MT
Article from The Wolf Point Herald, March 5, 1925

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# SHERIFF'S SALE In the District Court of the Twen- tieth Judicial District of the State of Montana, in and for the County of Roosevelt. E. H. Kuemsted, Plaintiff, versus Mayme M. Dupree and Davis J. Du- pree, husband and wife, First Na- tional Bank of Poplar, a corpora- tion, and F. G. Gevers as receiver thereof, Carrie L. Jakish, Victor Hillstrom and H. Earl Clack & Company, a corporation, defend- ants. To be sold on the 28th day of March, A. D. 1925, at the front door of the County Court House at Pop- lar, Roosevelt County, Montana, at the hour of two o'clock P. M. of said day, the following described real property, to-wit: The Northeast quarter (NE¼) of Section Ten (10) in Township Twenty-eight (28), North of Range Forty-eight (48), E. M. M., contain- ing 160 acres, more or less, accord- ing to the U. S. Government survey thereof. And in particular, all the right,

18. October 14, 1926 The Wolf Point Herald Wolf Point, MT
Article from The Wolf Point Herald, October 14, 1926

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POPLAR BANK'S 1 S e SURETIES LOSE n SUPREME BENCH HOLDS ILy x LEGALITY DEFENSE IS I ESTOPPED C Helena, Oct. 8.-Right of r Roosevelt county to require payment of a depository bond ex: ecuted by the First National Bank of Poplar and its sureties to insure payment of county deposits in that bank, now closed, is upheld by the supreme court in alfirming the judgment of the district court of that county in the case instituted by Neil McFarlan, as county treasurer, against the bank, and S. M. Strand, P. E. Ludtkk, E. H. E. Helgeson, C. Jensen, G. A. Lundeen and A. F. Nohle. C. Jensen alone appealed from the judgment of the lower court. The county had on deposit $34,972.84 at the time of the closing of the bank, this deposit being protected by a depository bond upon which Jensen was one of the sureties. Subsequently Jensen and others proceeded to reorganize the bank and entered into an agreement with th board of county commissioners whereby the county agreed to accept a certificate of deposit for the existing deposit, the same to run for a period of 10 years from the date of a the re-opening of the bank. To T protect this certificate of deposit ( the bank executed a new delposin tory bond, upon which Jensen was e again one of the sureties. Claimed Bond Illgeal p On December 14, 1923, the a bank again became insolvent and M a receiver was appointed. Action p was instituted by the county on a the second depository bond resulting in judgment against the bank and its sureties. F Jensen appealed from the judgment contending that the bond, depositors' agreement and certificate of deposit must be conS strued together; that, when so la construed it is apparent that the a bond was given for an illegal purpose, is without consideration and cannot be enforced; and that in ST any event the obligation is to pay is at the expiration of 10 years and a he sureties are entitled to stand ti , (Continued on page eight)