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national
4fcdb029437e5214Accommodated withdrawals, Public signal of financial health, Full suspension, Books examined
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BIG BANK CLOSES DOORS Globe National of Denver Voluntarily Suspends Business. Bu United Press DENVER, Colo., Sept. 19.-The Globe National Bank, with deposits of nearly $3,500,000 closed its doors this morning by voluntary action of its officers. The board of directors were in session at noon, but no statement regarding the condition of the bank or the reason for its suspension of business was issued and officials of the Federal Reserve Bank dis. claimed knowledge of the situation.
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DENVER BANK FAILS. Colo., Sept. The Globe National bank of Denver closed by its officers today. capitalized at action was taken, officers This because run on the bank precipitated the circulation rumors concerning its condi-
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DENVER BANK, HIT BY RUMORS, CLOSES DOORS DENVER. Colo., Sept. The Globe National bank of Denver was closed by its officers today. It was capitalized for $200,000. This action was taken. the officers said, because of a run on the bank. precipitated by the circulation of false rumors concerning its condi- tion. Herman B. Gates, former state treasurer of Wyoming. president of the bank, is in New York City, officers, say, completing financial details of the recent merger wth the Home Savings and Trust company. In a telegram sent the chief examiner of national banks of the tenth federal reserve district, with headquarters in Kansas City. Missouri, the officers ask the national bank examiner be sent to take charge.
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Globe National Bank Of Denver Closed Sept. 19 (By Associated Globe National Bank of Denver was closed by its offitoday. It was capitalized at This action was taken, officers because of run on the bank precipitated by the circulation of false rumors concerning its condition. Herman B. Gates, former state treasurer of Wyoming. president of the bank, is in New York City, offisaid, completing details for financing the institution. which recently merged with the Home Savings and Trust Company. In telegram to the chief examiner of national banks of the Tenth federal reserve district, with headquarters at Kansas City, Mo., the officers asked that national bank examiner be sent to take charge.
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Denver Bank Closes Doors Globe National Bank of Denver closed by its officers today It was capitalized at $200,000. The action was taken, officers said, because of run on the bank precipitated by the circulation of false rumors concerning its condition. BUS DRIVER FINED. Herman Koch, a bus driver, was fined $15 and costs by Justice Gerking in Lebanon Friday night following his arrest on the Lincoln Trail east of O'Fallon by State Motorcop Walter Nichols on charge of driving 17 miles an hour
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DENVER BANK IS CLOSED TODAY (Associated Press Leased Colo., Sept. Globe National bank Denver closed by its officers today. capitalized at $200,000. action taken, officers because of run the bank precipitated by the false rumors concerning its condi- Herman Gates, former state New City, of ficers completing details for financing the institution which cently with the Home Trust company the chief examiner banks of the Tenth Federal district Kansas City, the that tional bank examiner be sent take
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DENVER BANK CLOSES DOORS Officers Say Action Follows Run Caused by False Rumors of Condition. Sept. 18.-The Globe National bank of Denver by its Saturday. capitalized at This said because the bank tated by the false its Herman R. Gates, farmer stat president bank. is in New City, ficers completing details for financing the institution, cently with the Home Savings and Trust company. telegram the chief aminer national banks Tenth federal reserve district with headquarters at Kansas the officers asked that national bank ex aminer be sent to take charge
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WILD RUMORS START RUN ON DENVER BANK Denver, Col., Sept. 19.-(P)-The Globe National bank of Denver, which closed its doors today when many depositors started a run on the institution, tonight was placed in the hands of national bank examiners, officials of the bank, capitalized at $200,000. announced that depositors would receive 100 cents on the dollars. Meanwhile, ctives engaged thy District Attorney Foster W. Cline launched an investigation of the source of the rumors which bank officials said led to the run and subsequent closing of the institution. Approximately $30,000 was paid out to depositors who withdrew theirwaccounts during the first half hoursof business today. Directors closed the bank when it became apparent that the run would mean that $250,000 or more would be taken out of the cash reserve within few hours. They issued statement declaring the institution to be solvent.
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Investigate Cause of Run on Denver Bank DENVER, Sept 19.-(P)-The Globe National bank of Denver, which closed its doors today when many depositors started a run on the institution, tonight was placed in the hands of national bank examiners. Officials of the bank, capitalized at $200,000. announced that depositors would receive 100 cents on the dollar. Meanwhile. detectives engaged by District Attorney W Cline launched an Investigation into the source of rumors, which the bank officials said led to the run and consequent closing of the institution. Approximately $300,000 was paid out to depositors, who withdrew their accounts during the first half hour of business today Directors closed the bank when It became that the run would mean that or more would be taken out of the cash reserve within a few hours. They issued a statement declaring the institution to be solvent
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AVERT RUN TAX REDUCTION OFFICERS SHUT LOOKS EASIER FOR CONGRESS Globe National of Denver Taken Over by Federal Examiner; Solvency Is Claimed. Denver, Sept. Globe National of closed by officers Saturday after run. due officers said, the false rumors of its condition. Herman Gates, formerly state treasurer Wyoming. is president of the bank. He York The merged with the Savings July Rumors. officers said, were that the Globe unstable that the merger had fully completed. statement officials the institution announced they were to discontinue operations "for the because the had caused serious cash reserves hand. telegram sent to the chief aminer national banks for the Tenth federal reserve district, with headquarters in Kansas City, the local federal bank commissioners were noticharge. The bank member of the Denficers said between and $400,000 hand back up statements. Herman Gates, president. New York, officers said. completing details financing merged Bank said these financial pleted and the but that the came too prethe Officials said the bank was solvent. the the take tween and $300,000 in cash out of bank. the bank. capitalized $200,000 announced depositors 100 cents the dollar. engaged District Cline launched into the source the bank of ficials said led quent closing of the institution. CAUSE OF FAILURE, SAYS EXAMINER Kansas Sept. K. Roberts, national bank examiner for the Tenth said he had placed H. Campbell, national bank charge the Globe National was closed by its Mr. Roberts stated that the closing the bank was occasioned by its recently having taken over the Savings and he asserted "was in an extremely precarious con dition, The bank, he said. total of between and Loss in Revenue on Previous Cut Is Not As Large by $80,000,000 as Was Expected. By DAVID LAWRENCE Washington. Sept time the treasury of statistics the income tax the fiscal ending June there and more evidence that tax réduction in not possible, but When the in made, the experts figured total loss in revenue around when the were into The total now appears to have been around experts were not their much rate would in, basing their on vious they by calculate the due to better well as the opportunity the investor business expand his enterprises under tax Making up estimate probable income can fairly using past figures and allowing for in conditions. Now the gov. ernment knows what can and there doubt congress will optimistic about tax reduction than is treasury Figures Tell Story. Figures theories mitting the leak out as the returns are tabulated alyzed designed to show congress the probable limits tax reduction bill can be. fact that dropped only $80,000,000 the preceding is regarded the about the statement just issued by Blair of the internal enue The loss due to miscella neous taxes. Incidentally this the class which there is the greatest pressure for further tax changes. "which federal tax added to their selling most to see repealed which the has Two Schools Congress. While the consumer feels this indirectly. total amount the tax is widely distributed that in congress two schools think just and equitable and who thing the more millions people than those pay income taxes. Congress leaned toward the repeal of indirect taxes and big cut in this group may be the session. the depends to large what will left income But the fact that individual dropped relatively negligible amount, namely when was figured that the loss would be twice three times great. especially the business depression to have and will the basis the argument surtax and individual keep their productivity under low rates. tax scale can come down materially. Some Getting It begins the contest between higher but the and congress in their optimism going possible And some below the treasproposals already. side the surtax proposal, the latest figures will tend develop sentiment for greater further indirect and heritance tax problem will to the brunt compromises number of senators and sentatives voting for will argued by the treasury tirely
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PROBE RUMORS CAUSING ON A DENVER BANK Wire] DENVER Sept The Globe National Bank of Denver, which closed its doors today when many depositors started run on the stitution. tonight was placed in the hands of National Bank examiners. Officials of the bank, capitalized at announced their belief that depositors would receive 100 on the dollar Meanwhile, detectives engaged by District Attorney Foster W Kleine launched an investigation to determine the source of rumors which, bank officials said. led to the run and closing of the institution
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GLOBE NATIONAL BANK AT DENVER IS CLOSED DENVER Colo., Sept. 19. (P)-TEe Globe National Bank of Denver It was capitalized at $200,000 This action was taken, officers said, because of a run on the bank precipitated by the circulation of false reports converning its con dition. Herman B. Gates, former state trensurer of Wyoming, president of the bank, is in New York City, officery said, completing details for financing the institution which recently was merged with the Home Savings and Trust Company. In telegram sent to the chief examiner of national banks for the tent hfederal reserve district with headquarters nt Kansas City, the officers asked that national bank examiner be sent to take charge.
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False Rumors Close Bank. Globe National Bank of Denver closed by its officers today It was capitalized at $200,000. The tion was taken, officers said, because of run on the bank precipitated by the circulation of false rumors concerning its condition. Herman B. Gates, former State treasurer of Wyoming, president of ficers said completing details for financing the institution which recently was merged with the Home Savings and Trust Company.
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Colorado Banking House Is Closed Because of a Run Denver, Colo., Sept. 19.-The Globe National bank of Denver was closed by its officers today. It was capitalized at $200,000. This action was taken, officers said, because of a run on the bank precipitated by the circulation of tion. Herman B. Gates, former state treasurer of W yoming, president of the bank, is in New York city, officers said, completing details for financing the institution which recently was merged with the Home Savings & Trust company. In a telegrain sent to the chief examiner of national banks for the Tenth Federal Reserve district with headquarters at Kansas City, the officers asked that a national bank examiner be sent to take charge.
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RUN ON DENVER BANK FORCES IT TO CLOSE Denver, Sept. the Asso ciated Globe National Bank Denver, closed its doors today when many depositors started run the tonight in the hands national bank placed officials of the bank, talized $200,000, that would receive 100 cents on the positors dollar. Meanwhile, detectives engaged District Foster Cline, launched investigation to the bank led the run and quent closing of institution. $30,000 paid depositors who withdrew their counts during first half hour business Directors closed the bank when became that the run would apparent that more would taken out of the within They issued statement the institution solvent.
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BANK Colo., Sept. Globe National bank of Denver was closed by its officers Saturday capitalized The action taken, officers said, because on the bank precipitated by the circulation of false rumors concerning its condition. Herman Gates, former state treasurer Wyoming, president of the bank in New York City, officers said, completing details for financing institution recently was merged with the Home and Trust company. In telegram sent to the chief examiner of national banks of the tenth Federal Reserve district with headquarters at Kansas City, Mo., officers asked that national bank examiner be sent take charge. New cigar stores sell lingerie and men's fur nishings.
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Preacher Not Affected by Bank Failure CHICO, Sept. 22.-Although "Big Jim" Kramer received word last night that the Globe National Bank Denver, Colorado, had failed and that his havings and those of his for a lifetime were lost, the continued with his program for the evening and delivered one of his most forceful sermons at the First Baptist Church, in the opinion of those who heard him. There was a run on the bank according to the meager details con- tained in a message received by Rev. Kramer. and the bank doors were clos ed by State examiners. An eight-year-old son of Rev. Kram er, who was left a fortune by grand mother. had deposited his ance in the bank. CHICO HOME BURNS CHICO, Sept. Fire of termined origin Sunday destroyed home of Mr. and Mrs. A. C. Hunsing er on the Creek road. The Houghton home. which is nearby saved by neighbors who played stream of water on the building The loss was partially covered insurance. plays as Gogol's "Revisor" and classic Russian comedies.
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COOK AT ARION, IA., HELD FOR MURDER OF ANOTHER NEGRO Arion. Ia., Oct. (Special) A Negro named Joe about 25 years whose last name address could not be learned. was stabbed to death construetion camp near here at 30 o'clock tonight Manuel Brown, 22 years of St. Louis, Mo. a Negro for the camp cook, in jail Denison charged with the crime. Sheriff Green of Denison ran Brown down in corn field shortly after the crime Interviewed in jail at Denison tonight. said Joe had been pestering him, and tonight had threatened hit crutch he was using following an accident Brown said he picked up butcher knife and started to chase Joe and in the melee they fell over bench and the knife accidentally went into Joe's Joe's body is at local undertaking parlor. An investigation is being made to learn his identity Sheriff Green says he be lieves the crime was murder Brown claims it was an accident He talked freely and admitted quarrel. Name Denver Bank Receiver Oct pointment of Lawrence B. Bromfield of Denver as receiver of the Globe National which was closed here was announced today
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DENVER BANK RECEIVER Oct. Assoclated of Lawrence Broomfield of Denver receiver the defunet Globe National which closed here announced tochief national examiner the Tenth Reserve district, appointment by the currency. Broomfield take over tomorrow.
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SERVICE BY PUBLICATION In the District Court of Deuel Coun ty, Nebraska. Frank Strasser, plaintiff, versus Carl H. Peterson, Jessie M. Peterson, his wife, Wheeler & Motter Mercantile Co., A Corporation, The Public Trustee of Deuel County, Nebraska, L. B. Bromfield, Receiver of the Globe National Bank of Denver, Colorado, Aden-Kampfe Mercantile Co. partnership doing business in the State of Nebraska, and all persons having or claiming any interest in Lots Thirteen (13) and Fourteen (14) in Block Nineteen (19) in the Original Town of Chappell, Deuel County, Nebraska, real names unknown, Defendants To Carl H. Peterson, Jessie M. Pet erson, his wife, Wheeler & Motter Mercantile Co., A Corporation, The Public Trustee of Deuel County, Nebraska, L. B. Bromfield, Receiver of the Globe National Bank of Denver, Colorado, Aden-Kampfe Mercantile Co., a partnership doing business in the State of Nebraska, and all persons having or claiming any interest in Lots Thirteen (13) and Fourteen (14) in Block Nineteen (19) in the Original Town of Chappell, Deuel County, Nebraska, real names unknown, defendants. You and each of you are hereby notified that on the 26th day of December, 1928, Frank Strasser, Plaintiff, filed his petition in the District Court of Deuel County, Nebraska, against you and each of you, the object and prayer of which petition are to foreclose one certain mortgage given on the 23rd day of May, 1925 by Carl H. Peterson and Jessie M. Peterson to Frank Strasser on Lots Thirteen (13) and Fourteen (14) in Block Nineteen (19) in the Original Town of Chappell, Deuel County Nebraska. You are required to answer said petition on or before the 25, day of February, 1929. Frank Strasser, Plaintiff. By A. J. Luebs, his attorney. 38-4 will sell at foreclosure sale, Lots One (1) and Two (2) in Block Twen ty-seven (27) Original Town of Chappell, Nebraska, with all appurtenances thereunto belonging. The sale will be at public vendue to the highest bidder for cash, at the south door of the Deuel County Court House at Chappell, Nebraska, on the 18th day of February 1929 at 10 o'clock m. 38-5 A PETERSON, Sheriff Deuel Co. Nebr.
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One Question Takes Half Mour to Read; Court Bars Answer Special Denver, Colo., March half an hour today Ralph Hartzell, represents L. Bromfield, receiver for the defunct Globe National bank of Denver, read question to K. Roberts of Kansas City, Mo., chief national bank examiner, was on the stand in the 675 thousand dollar damage suit Bromfield brought against 11 directors the bank. The ceiver charges their negligence caused bank to fail. The question was all in one sentence, contained nine typewritten pages. It was the longest hypothetical question asked in this state, summary of conditions which led to collapse of the bank. In effect, it asked whethdirectors were to blame for crash. Defense attorneys protested, and Special Master Caldwell Martin, hearing the testimony, refused to allow Roberts to answer.
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Six Move Here In Shift of Bank Receiver's Office With the establishing in Fort Collins of headquarters of F. Kokrda. receiver for nine Colorado banks two in Larimer county, an interesting former Denver residents was added to Fort Collins during the past week. Mr. and Mrs. Kokrda have established themselves at 1437 West Mountain avenue, rented the residence at that address. Coming with them from Denver office to make their residence here are Mrs. Dunn, bookkeeper, and Miss Edna Mrs. Dunn accompanied by her husband, disabled war veteran wh oserved as captain with Ráindivision. Mrs. Dunn formerly studied at the Conservatory of Music at the Colorado Agricultural college, and was accompanist for DIAlexander Emalie in his pubHe appearances at that time. She planist of ability, prominent in all musical circles of Fort Collins. The Dunns are located at 431 West Oak street. Miss Backloup, mother lives with has located at the Scott apartments. From life Fort Colline office in the Fort Collins National bank building, Mr. Kokrda will administer the receiverships of nine banks: The Fort Collins National bank. the First National bank of Wellington, the First National bank of Lafay ette, the First National bank of Brighton, the First National bank Yuma, the First National bank of Deetrail, the Limon bank, the Glbe National bank of Denver and the Broadway National bank of Denver. The two latter are bases in which disposition of suits against depositors is being awaited. Ten receiverships been completed by Mr. Kokrda in recent years, of which one was in in Wy. oming and the Colorado.