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BANK ASSETS NET $500 AT AUCTION SALE Court Confirmation Is Still to Be Secured After Hammer Falls The auction hammer fell and the remaining assets of the State bank of Stockett went to A. H. Gray for $500. At one time the assets had book value of $40,000. The bank suspended in 1922. The sale is subject to confirmation of the court.
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STOCKETT BANK ASSETS SELL FOR $500 AT PUBLIC AUCTION Property With Former Book Value of $40,000 Brings Small Sum Under Hammer; Offer Is Subject to Court Confirmation All remaining assets of the State bank of Stockett with the exception of bonds of the Mackton Coal combany, were sold at public auction Monday afternoon by H. G. Lescher, receiver of the institution. to A. H. Gray for $500. according to announcement of Paul Freeman of the legal firm of Freeman, Thelen & Freeman The assets disposed of formerly had a book value of about $40,000. The Stockett bank suspended in 1922. following an examination by L. Q. Skelton, former state bank examiner. with assets estimated at The liabilities include savings deposits in the sum of $14,276, time certificates of deposit in the amount of 8112 172 and other deposits of about $25,000. Since the institution was placed in the hands of receiver. one 10 percent dividend has been paid. Sale of the remaining assets and termination of the were authorIzed recently by District Judge W. H Meigs after the receiver had filed petition in which he declared that was for the best interests of creditors that the receivership be closed. The sale the assets was conducted at the Miners State bank at Sand Coule The assets were first offered for sale individually. the only bids being 85 each bid, for the deposit of the Commercial bank in the sum of $2,380 and the State bank of Belt deposit in the sum of $1,400; $10 for $350 promissory note of J. W. Jones. 810 for 8450 note issued by John Toftus and 85 for an adding machine William Epperson was bidder for the Toftus note. J. W. Roberts for the Jones note and L. Vonetti for the bank deposits. Following the offer of the assets individually, the property was auctioned in bulk and struck off for $500 to Mr. Gray. The sale is subject to confirmation by the court. Among the assets listed by the bank were bank deposits in the sum of about $8,000, judgments with face value of nearly $10,000 and promissory notes with an aggregate value of more than $30,000 TwentyCorns, Callouses eight of the notes offered for sale had face value of more than $1,000 each.
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Assets of Stockett Bank Sell for $500 Great Falls, June 26.-All remaining assets of the State bank of Stockett, with the exception of bonds of the Mackton Coal company, were sold at public auction Monday afternoon by H. G. Lescher, receiver of the institution, to A. H. Gray for $500, according to announcement of Paul Freeman of the legal firm of Freeman, Thelan & Freeman. The assets disposed of formerly had a book value of about $40,000. The Stockett bank suspended in 1922, following an examination by L. Q. kelton. former state bank examiner, with assets estimated at $175,519. The liabilities include savings deposits in the sum of $14,276. time certificates of deposit in the amount of $112,172 and other deposits of about $25,000.
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Sale Is Confirmed of Stockett Bank Assets to Gray Sale of all remaining assets of the State Bank of Stockett. which suspended operations several years ago. to A. H. Gray for $1,000 was confirmed Thursday in an order filed in district court by Judge W. H Meigs. assets of the institution were tentatively sold to Mr. Gray on June 25 at sale held by H. G. Lescher as receiver. The Stockett bank suspended operations in 1922 following an examination by L. Q. Skelton, former state bank examiner, with assets estimated at $175,519. The liabilities included saving deposits in the sum of $14,276. time certificates amounting to $112,172 and other deposits valued at about $25,000. Among the assets disposed of by the sale were promissory notes with purported value of more than $30,000. judgments in the amount of $10.000 and bank deposits with face value of about $8,000. Few of the notes and judgments are, however. secured.