Capital State Bank (Boise, ID)

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BANK CLOSES; SOLVENT

Temporary Suspension of Large Institution at Boise, Idaho. Boise, Idaho. Jan. 21.-The Capitol State Bank, of Idaho, (limited), failed to open its doors this morning, a temporary suspension having been decided upon by the directors, owing to recent The heavy withdrawals of deposits. capital is $200,000, reserve, $100,000, and deposits December 31, $1,077,000. W. S. Bruce, expert accountant, who has been engaged in making a careful investigation of the affairs of the bank, said today that the bank is solvent, and its assets are sufficient to pay the depositors every dollar due them.

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BANK SUSPENDS [By Associated Press

] BOISE, Jan. 21.-The Cauitol State Bank of Idaho (limited), this city, today announced it had temporarily suspended owing to heavy withdrawals of deposits. The capital is $200,000, its reserve $100,000 and deposits about $1,000,000.

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BOISE BANK DOORS CLOSE I BOISE, Jan. 21.-The Capital State Bank of Boise failed to open its doors this morning, notice being posted of temporary suspension caused by the recent heavy withdrawals. The bank has a capital stock of $200,000, surplus of $100,000, and deposits by the last statement og a little of $1,000,000. George D. Ellis is president, J. C. Pence, vice president; H. E. Neal, cashier. The bank ranked second in Boise and had the bulk of the small depositor business. alter E. Druce, expert accountant, states today: "I spent several days examining the bank books and believe the bank solvent." No effect was felt by the other banks of the city. Walter S. Druce will probably be appointed receiver of the suspended bank.

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STATE BANK CLOSED

The Large Withdrawal of Deposits Cause For It. Boise, Idaho, Jan. 21.-The Capitol State Bank of Idaho in this place, failed to open its doors for business to-day. Temporary suspension was determined by the directors owing to the recent large withdrawal of deposits.

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BOISE BANK CLOSES DOORS

(By United Press.) BOISE, Ida., Jan. 21-The Cap. Ital State Bank of Boise, a state institution, failed to open Its doors this morning, notice being posted that a temporary suspension of payment was found necessary ow-

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Idaho Bank Fails By Associated Press. BOISE, Idaho, Jan. 21.-The Capital State bank of Idaho, limited, of this city, failed to open its doors for business this morning. The directors of the bank, at a meeting held last night, decided that a temporary suspension was necessary owing to recent heavy withdrawals of deposits.

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BRUCE APPOINTED RECEIVER Says Depositors Will Be Paid in Full-No Branches Close BOISE, Ida., Jan. 22.-Walter S. Bruce was today appointed by the court as receiver of the Capital State bank. Mr. Bruce expressed a confidence that the depositors will be paid in full. None of the Capital State's

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BANK RECEIVER TAKES CHARGE (By United Preso.) BOISE, idaho, Jan. 22.-Walter 8. Bruce, who was appointed receiver of the Capital State bank, which suspended yesterday, took charge today. It is still maintained by the directors and the receiver that the depositors will be paid in full, but much uneasineas is mantfested. as many usly stories are afloat.

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Owing to a steady Grain upon its cash resources for months past, and being unable to realize upon a heavy line of loans made prior to the financial depression of last fall, the Capital State bank of Boise suspended payment Tuesday morning. In explanation of its action the directors, after an all night session in which the condition of the Dank as to its solvency was ascertained, posted the following notice upon its doors: "The directors of the Capital State Bank have made a careful examination of its condition and find it solvent. "The difficulty in obtaining ready cash makes it necessary temporarily to suspend payments. "It is believed that in the course of a short time the bank will be able to resume, but that in any event the depositors will be paid in full." On the application of Orlando F. Bacon and other stockholders and depositors in a complaint filed in the district court Tuesday, Judge Wood appointed Walter S. Bruce to the receivership of the institution, and he itamediately assumed control, furnishing a surety bond. It is stated that Mr. Bruce was the choice of he majority of the directors of the bank and that the appointment is satisfactory to the othe b ks of the city. It became kno WILL that Mr. Bruce had been for several days going over the affairs of the bank and he is therefore well fitted to take up the work of receiver. The receiver states it as his opinion that the bank is perfect-

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BRANCHES NOT CLOSED

(Special to The Herald.) Boise, Idaho, Jan. 22.-Walter S. Bruce, appointed by court receiver of the Capital State bank, which suspended yesterday, has taken charge of the institution and after further examination again expressed confidence that depositors would be paid in full. None of the Capital State's branch banks in the small towns of southern Idaho have closed as a result of the failure here.

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Capital State Bank

The doors of the Capital State Bank of Boise closed temporarily to the public Tuesday, Jan. 21st, which created considerable excitement in banking circles of the city. Cashier H. F. Neal resigned and application for a receiver was filed. There are rumors, and all sorts of rumors, but the facts sustained are a heavy run averaging $9000 per day for 42 days or more. and the Boise clearing houses refused aid. The institution is perfectly solvent, will reopen shortly, and pay every dollar due its depositors.

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FAILURE OF CAPITAL STATE BANK

The failure of the Capital State Bank is to be sincerely regretted by every one. Any failure is to be regretted, but this one particularly so, as it carried a large number of depositors-between three and four thousand-many of them small ones, who had all they possessed in the bank. It had a capital stock of $200,000 and a surplus of $100,000. According to its last statement, December 23, 1907, it had deposits amounting to something over one million dollars and its loans and discounts amounted to about the same amount. Walter S. Bruce, who made a cursory examination of the bank's condition just before its failure and who has been appointed receiver, announces that it is his belief that the bank will be able to pay depositors in full. The reason given for the bank's failure was its inability to realize ready money on its securities to meet the demands made upon it. It had been rumored for some time that the bank was having trouble in calling in its loans, which frightened many of the depositors, who began to quietly withdraw their account. It has been stated that for the past twenty days that the withdrawals had exceeded an average of about $9000 a day. The drain became too great and the directors concluded that it was best to close the doors temporarily in order to protect the interests of the depositors. There is talk of reorganizing the bank, which is to be devoutly hoped, as its officers and directors are among the substantial and progressive citizens of the Capital City. The failure of the bank has had only a slight depressing effect on business. None of the other banks have been affected, although it has had a tendency to tighten up the money market. This, however, it is believed, will be relieved in a few days, when business will resume normal conditions.

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Boise, Jan. 21.-The Capital State Bank of Boise, a state institution, failed to open its doors this morning, notice being posted of temporary suspension caused by recent heavy withdrawals. The bank has capital of $200,000, surplus of $100,000 and the deposits at. the last statement were a little over $1,000,000. George D. Ellis is president; J. C. Pence, vice president and H. E. Neal, cashier. The bank ranked second among the Boise banks and had the bulk of the small depositor business. Walter E. Bruce, expert accountant, states today: "I spent several days examining the bank's books and believes the bank is solvent." There was no effect on the other banks of the city. Walter S. Bruce will probably be appointed receiver of the suspended bank.

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BOISE BANKS NOT AFFECTED CAPITAL BANK FAILURE WILL NOT HURT OTHERS Bank Will be Reorganized and it Is Thought Will Pay in Full Within 60 or 90 Days-Other Institutions in City Not Affected. That the failure of the Capital state bank at Boise did not affect other banks in the least, is shown by the following from the Boise Capital News: There is nothing new in the bank situation today, says the News. State Bank Examiner W. S. Chaney arrived this morning and today is making an examination of the books of the Capital State bank. No statement has been prepared and nothing authentic is given out. The impression continues to grow that the bank will be reorganized and will continue in business, all depositors being paid in full. It is even stated that this can be accomplished within 60 to 90 days. Other banks of the city still feel the effects of the suspension of business very slightly. There is no indication of any disposition to make any run on any of the other banks, all of which, however, are strengthening themselves by shipping in large amounts of cash from outside points. All of them are paying cash for all demands and will continue to do so unless the people lose their heads more than they have shown any indication of doing up to this time. Many absurd rumors have been set afloat, but it is needless to say that there is nothing in any of them. It was even rumored at Nampa yesterday that all the banks of Boise had- failed and considerable excitement prevailed there—more even than here where actual conditions were understood. It is stated, however, that H. E. Neal, before leaving for Portland, turned over to the bank property to the value of $200,000, held by him here and in Oregon, to secure the bank against loss from loans for which he had become surety or in which he was more or less personally responsible in a moral sense. This, together with the capital stock and real estate holdings of the bank alone guarantee more than 50 per cent of the deposits, not counting loans equal in amount to the deposits themselves.

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The suspension of the Capital State bank of Boise has apparemtlyr had no bad effect upon: any other bank in the state. -

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BOISE BANK IS REOPENED Hearst News Service. Boise, May 28.-Under reorganization plans accepted by the courts, the Capital State Bank, which suspended last Januaray, was reopened today. The institution has more than a milMon in deposits.

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REOPEN BOISE BANK

(Special to The Sentinel.) Boise, May 28. -Under reorganization plans accepted by the courts. the Capital State Bank. which suspended last January, was reopened today. The institution has more than a million in deposits.

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Reopen Boise Bank

Boise, May 28.-Under reorganization plans accepted by the courts, the Capital State Bank, suspended last January, was reopened today. The institution has more than a million in deposits.

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REOPEN BOISE BANK

Boise, May 28.-Under reorganization plans accepted by the courts the Capital State Bank, which suspended last January, was reopened today. The institution has more than a million in deposits.

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Reopen Boise Bank

Boise, May 28.-Under reorganization plans a cepted by the courts, the Capital State bank, which suspended last January, was reopened today. The institution has more than a million in deposits.

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Reopen Boise Bank

BOISE, May 28.-Under reorganization plans accepted by the courts, the Capital State bank, which suspended last January, was reopened today, The institution has more than a million in depasits.

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Boise

-By an order issued in chambers by Judge Wood of the district court, Receiver. W. S. Bruce, of the defunct Capital State Bank of this city, has been ordered to declare a dividend to the depositors July 1. In any event the depositors will receive at least 10 per cent of their deposits on that date, and possibly more. The receiver reports that he has in his hands and available for this purpose $160,000.

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Payment of the second dividend of 20 per cent to depositors of the defunct Capital State bank of Boise was begun Tuesday. This dividend will amount to $180,000. Receiver Menhoin states a third dividend, probably of 20 per cent, will in all probability be declared January 1. He is confident depositors will be paid dollar for dollar in time.

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MR. CHANEY MAKES DENIAL.

Special Correspondence. Boise, Ida., Oct. 29.-W. S. Chaney, bank examiner, has issued a formal statement addressed to Hon. M. Alexander, Democratic candidate for governor of Idaho, stating that his attention has been called to the charges made by Mr. Alexander to the effect that the Capitol State Bank of Boise had been examined by Mr. Chaney 60 days before Its suspension. Mr Chaney makes emphatic denial of this and states that he never examined the bank at any time before its suspension. He states that he took office on June 1, 1907, and found that the Capitol State bank was the last bank examined by his predecessor, Mr. Loveland.

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Seeks Recovery of Bonds

BOISE.-A suit to recover first mortgage bonds of the Pacific & Idaho Northern Railway Co. in the sum of $29,496, was filed in the Ada County district court by Caddie Bates, widow of T. W. Bates, against M. P. Meholin, receiver of the Capital State Bank. The bonds were turned over to the bank in August, 1901, to pay off notes which the bank had held against Bates.