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KINDRED BANK SUIT WILL OPEN TUESDAY L. R. Baird, as Receiver, to Ask $300,000 From Directors in Cass Court Fargo, N. D., Dec. 1. - (AP) The $300,000 damage suit brought by L. R. Baird, as receiver, against directors of the closed Farmers and Merchants Bank of Kindred, N. D., has been set for trial opening Tuesday in Cass county district court before Judge P. G. Swenson of Grand Forks. The action is against Nels Olsgaard, R. Evingson, T. B. Borderud, E. T. Lee and O. M. Huseby, and is for $305,136.77. It is charged that negligence and mismanagement of the bank on the part of the directors and dishonesty on the part of the late Adolph Dokken, cashier who committed suicide and for whose acts the directors are charged with responsibility, were responsible for heavy losses. It is charged the bank was insolvent prior to the time of its closing on July 11, 1932. It is also charged the bank failed to make good its reserves as required by law, due to "the mismanagement and fraudulent acts of managing officers," and that Dokken was permitted to manage the bank without furnishing sufficient bond. The defendants have denied all of the material allegations and contend
