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LIEUT GOV. IS RECEIVER FOR PROSPER BANK 1119270 Receivers for four closed banks have been named by the banking board, O. E. Lofthus, state examiner, announced today. Those named are: Bank, of New Rockford-A. J. Nathan, of Bismarck. Scandinavian-American Bank of Fargo-L. C. Reed, of Fargo. Security State Bank of Columbus-Geo. Witty, of Columbus. Prosper State Bank of ProsperLieutenant-Governor Howard Wood.
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Receivers Are Named For Four Closed Banks Bismarck, N. D., March 10.-Receivers for four closed banks have been named by the banking board, O. E. Lofthus, state examiner. announced today. Those named are: Bank of New Rockford-A. J. Nathan of Bismarck. of Scandinavian-American Bank Fargo-L. C. Reed of Fargo. Security State Bank of ColumbusGeo. Witty of Columbus. Prosper State Bank of ProsperLieutenant-Governor Howard Wood.
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Howard Wood Bank Receiver. FARGO, N. D.-Lieutenant Governor Howard Wood has been named as receiver for the Prosper State bank at Prosper, Cass county, which was recently closed, according to announcement made today by O. E. Lofthus.
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OFFICERS OF CLOSED BANKS ARE RECEIVERS Is Administration State Loyally Taking Care Of Its Friends The Nonpartisan league state administration is showing unusual ability in taking care of its friends in connection with the appointment of receivers for many of the closed banks of North Dakota. The methods pursued might seem a little peculiar to some bankers, but evidently not to O. E. Lofthus, the talented state examiner, appointed by Governor Frazier, who has the appointing of the receivers. Out at Tolley; for instance, one A. M. Fruhs was president of the Tolley State bank, one the first banks to close. In spite of the fact that it was under his administration that he bank found It necessary to close up he has been appointed by Mr. Lofthus an re ceiver of his own bank, rather a novel stunt it would seem There seems to be similar confidence in the ability of A. A. Swanson, who was cashier of the Tolley State bank At least such would seem to be indi cated bv the fact that Mr. Swanson is receiver of the Merchants' State bank at Kenmare. Ebbert Also. Another friend of the administration is G. A. Ebbert, who was general man ager of the First Farmers' bank of Minot, another institution which is in the hands of a receiver. In spite of the fact that Mr. Ebbert was unable to keep his own bank out of the hands of a receiver, he is now receiver of the Mohall Security bank of Mohall. Incidentally it might be mentioned that Lieut. Gov. Howard Wood is whiling away the time between legislative sessions as receiver of the Prosper State bank. These are only a few of the cases that have come to hand. Presumably there are others
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LOSSES UNDER BANK RECEIVER INVESTIGATED Affidavit Reported To State Bond Fund on Lieutenant Governor Wood IS HELD BLAMELESS Head of Department Says Matter is Adjusted and Wood Is Not To Blame Information to the effect that claim for "the alleged wrongful act and breach of trust" of Lieutenant-Governor Howard R. Wood, may be made formally on the State Bonding Fund has been transmitted to Commissioner of Insurance S. A. Olsness, \it was learned today. The matter involves two separate allegations, amounting to $3,350. The the money is claimed to be owing of Prosper State Bank: Cass county, Wood which Lieutenant-Governor formerly was the receiver. The present receiver, Ole Engen, referred the matter to the Comof Insurance. suof the State missioner pervision who Bonding who has Fund, Wood matter up with Mr. three weeks ago, and took about the several failing days to be satisfied in the matter, an affidavit with of Insurance as missioner ago filed the the Com- basis the to be made against Fund, in of State a claim Bonding which receiver. LieutGov. Wood was bonded as briefly, are that Wood security on one note released The claims, and for dis- $1, 950 in the Prosper bank posed of grain checks ample to credit cover another $1,400 without giving to the bank. Exonerates Wood Harold Hopton, manager of the state fbonding fund, who has returned from that investigation of the affair, said rean complained of were the of trust placed by and others, that ployes the sult acts Wood there fund in would em- and no loss to the bonding be as soon as he was steps to that of the Wood matter.took loss insure informed what- the bank and fund against any \ever. The affidavit of Mr. Engen, who appointed receiver of the Prosper was Bank to succeed Lieut.-Gov Wood Dec. on Dec. 13, 1921, and qualified on fol20, 1921, sets out the claims as lows: That among the assets of the ProsState Bank were two promissory notes per executed by Mary E. Johnson, to the order of the due for executed Dec. 15, payable $1,950 bank-one 1920, and in at 8 per cent., anexecuted on due in 60 days at per 30, other one 1920, for year, $1,400 8 to June cent. the The affidavit declares that knowledge and belief of the af best o. L. Engen, the promissory fiant, notes are now unsecured, that Mary Johnson is not financially respons- uncolible E. and that the notes are lectible. Involves Grain Tickets has been informed that as to the $1,400 note collateral That he sufficient than wheat storage tickets to more the amount due on the date were cover given, but that "the said Howard R. while acting as receiver of the State Bank, tickets to the wheat Prosper Wood storage returned said otherwise Mary said Johnson or her agent or said E. dissipated said security and the of security is not now in possession to affiant and was not delivered this this affiant as Receiver aforesaid, on December 20, 1921. The affiant says the $1,950 note was secured by a first mortgage on that cerreal estate and of the security more tain the value Minnesota "the than said equalled the note, but that reR. Wood while acting as the Prosper State ceiver Howard of Bank, delivered satisfied the said mortgage and E. satisfaction to the said Mary Johnson said or her agent or otherwise said dissipated said security and the security is not now in the possession of this affiant." was learned that Engen had inIt Wood that he had received the information formed that Wood had released $1,950 mortgage for the purpose Har- of trading of the land by Wood and E. Johnson to some Minnesota the party old for 21 shares of stock in Prosper State Bank.
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LEGÁL NOTICES BANK ASSETS FOR SALE Sealed blds for the purchase of all the assets of the closed banks listed below will be received up to November 15, 1922: Farmers State Bank, Greene, North Dakota. W. E. Burgett, receiver, Flaxton. Citizens' State Bank, Edgeley, North Dakota. O. L. Engen, receiver, Fargo. State Bank of Milton, Milton, North Dakota. John Vallely, receiver, Grand Forks, First State Bank, Crystal Springs, North Dakota. H. B. Hanson, receiver, Crystal Springs. Bank of New Rockford, New Rockford, North Dakota. C. H. Reimers, receiver, Carrington. Peoples' State Bank. Leith, North Dakota. C. F. Kellogg, receiver, Bismarck. Peoples State Bank, Grand Forks, North Dakota. John Vallely, receiver, Grand Forks. Crocus State Bank, Crocus, North Dakota. Fred F. Walz, receiver, Egeland. Security State Bank, Courtenay, North Dakota. C. H. Reimers, receiver, Carrington. Prosper State Bank, Prosper. North Dakota. O. L. Engen. receiver, Fargo. Timmer State Bank, Timmer, North Dakota. C. F. Kellogg, receiver, Bismarck. Williston State Bank, Williston, North Dakota. G. R. Van Sickle, receiver, Minot. Citizens' State Bank, Pingree, North Dakota. C. H. Reimers, receiver, Carrington. Citizens' State Bank, Hazen, North Dakota. C. F. Kellogg, receiver, Bismarck. Security State Bank, Brantford, North Dakota. C. H. Reimers, receiver, Carrington. Bank of Leal, Leal, North Dakota. C. I. Buslee, special deputy examiner, Leal. Peoples' State Bank, Hatton. North Dakota. O. L. Engen, receiver, Fargo. Citizens' State Bank, Bathgate, North Dakota. John Vallely, receiver, Grand Forks. Sawyer State Bank, Sawyer, North Dakota. G. R. Van Sickle, receiver, Minot. Itemized lists of the assets are on file in the office of the state examiner at Bismarck, and with the receivers of the above banks. Bids should contain terms of payment and may include time certificates of deposit in going banks in the same community, all bids to be accompanied by certified check of one per cent of the amount of the bid. All bide should be addressed to Gilbert Semingson, state examiner, Bismarck, North Dakota, and the State Banking Board reserves the right to reject any and all bids. (Herald Oct. 26-27; Nov. 2-3.)
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LEGAL NOTICES BANK ASSETS FOR SALE Sealed bids for the purchase of all the assets of the closed banks listed below will be received up to November 15, 1922: Farmers. State Bank, Greene, North Dakota. W. E. Burgett, receiver, Flaxton. Citizens' State Bank, Edgeley. North Dakota, O. L. Engen, receiver, Fargo. State Bank of Milton. Milton, North Dakota. John Vallely, receiver, Grand Forks. First State Bank, Crystal Springs, North Dakota. H. B. Hanson, receiver, Crystal Springs. Bank of New Rockford. New Rockford, North Dakota. C. H. Reimers, receiver, Carrington. Peoples' State Bank; Leith. North Dakota. C.F. Kellogs, receiver, Bismarck. Peoples State Bank, Grand Forks, North Dakota. John Vallely, receiver, Grand Forks. CrocumState Bank, Crocus, North Dakota. Fred F Walz, receiver, Egeland. Security State Bank, Courtenay, North Dakota. C. H. Reimers, receiver, Carrington. Prosper State Bank, Prosper. North Dakota. O. L. Engen, receiver, Fargo. Timmer State Bank, Timmer, North Dakota. C. F. Kelfogg, receiver, Bismarck. Williston State Bank, Williston, North Dakota. G. R. Van Sickle, receiver, Minot. Citizens' State Bank, Pingree, North Dakota. C. H. Reimers, receiver, Carrington. Citizens' State Bank, Hazen. North Dakota. C. F. Kellogs. receiver, Bismarck. Security State, Bank, Brantford, North Dakota. C. H. Reimers, receiver, Carrington. / Bank of Leal, Leal, North Dakota. C. I. Buslee, special deputy examiner, Leal.
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TYPEWRITERS FOR SALE REBUILT MACHINES $30 AND UP; guaranteed for one year. Send for catalog. Russell E. Spear, Grand Forks. WANTED TO BUY. LATE MODEL FORD TOURING CAR wanted. Must be in good condition and reasonable. Phone 2551-J. WANT TO BUY - MEDIUM SIZE house at reasonable price. O. E. Fosse. Box 131. WANTED TO BUY-USED CAR. FORD sedan preferred. George Andrysak, Hannah, N. D. LEGAL NOTICES. BANK ASSETS FOR SALE Sealed bids for the purchase of all the assets of the closed banks listed below will be received up to November 15, 1922: Farmers State Bank, Greene, North Dakota. W. E. Burgett. receiver, Flaxton. Citizens' State Bank, Edgeley. North Dakota. O. L. Engen. receiver, Fargo. State Bank of Milton. Milton, North Dakota. John Vallely, receiver, Grand Forks, First State Bank, Crystal Springs. North Dakota. H. B. Hanson, receiver. Crystal Springs. Bank of New Rockford. New Rockford. North Dakota. C. H. Reimers, receiver, Carrington. Peoples' State Bank. Leith. North Dakota. C. F. Kelloge, receiver. Bismarck. Peoples State Bank. Grand Forks, North Dakota. John Vallely. receiver, Grand Forks. Crocus State Bank, Crocus, North Dakota, Fred F. Walz. receiver. Egeland Security State Bank, Courtenay. North Dakota. C. H. Reimers, receiver, Carrington. Prosper State Bank, Prosper North Dakota. D. L. Engen. receiver Fargo. Timmer State Bank, Timmer, North Dakota. C. F. Kellogg, receiver, Bismarck. Williston State Bank, Williston, North Dakota. G. R. Van Sickle, receiver, Minot. Citizens' State Bank. Pingree. North Dakota. C. H. Reimers, receiver, Carrington. Citizens' State Bank, Hazon, North Dakota. C. F. Kellogg, receiver, Bismarck. Security State Bank, Brantford. North Dakota. C. H. Reimers, receiver, Carrington. Bank of Leal, Leal, North Dakota. C. I. Buslee, special deputy examiner. Leal. Peoples' State Bank, Hatton. North Dakota. O. L. Engen, receiver, Fargo. Citizens' State Bank, Bathgate, North Dakota. John Vallely, receiver, Grand Forks. Sawyer State Bank, Sawyer. North Dakota. G. R. Van Sickle, receiver, Minot. Itemized lists of the assets are on file in the office of the state examiner at Bismarck, and with the receivers of the above banks. Bids should contain terms of payment and may include time certificates of deposit in going banks in the same community. all bids to be accompanied by certified check of one per cent/ of the amount of the bid. All bids should be addressed to Gilbert Semingson, state examiner, Bismarck, North Dakota, and the State Banking Board reserves the right to reject any and all bids. (Herald Oct. 26-27; Nov. 2-3.)
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LEGAL NOTICE BANK ASSETS FOR SALE Sealed bids for the purchase of all the assets of the closed banks listed below will be received up to November 15, 1922: Farmers State Bank, Greene, North Dakota. W. E. Burgett, receiver, Flaxton. Citizens' State Bank, Edgeley. North Dakota. O. L. Engen, receiver, Fargo. State Bank of Milton. Milton, North Dakota. John Vallely, receiver, Grand Forks. First State Bank, Crystal Springs, North Dakota. H. B. Hanson, receiver, Crystal Springs. Bank of New Rockford. New Rockford, North Dakota. C. H. Reimers, receiver, Carrington. Peoples' State Bank, Leith. North Dakota. C. F. Kellogg. receiver. Bismarck. Peoples State Bank, Grand Forks, North Dakota. John Vallely, receiver, Grand Forks. Crocus State Bank, Crocus, North Dakota. Fred F. Walz, receiver. Egeland. Security State Bank, Courtenay, North Dakota. C. H. Reimers, receiver, Carrington. Prosper State Bank, Prosper. North Dakota. O. L. Engen. receiver, Fargo. Timmer State Bank, Timmer. North Dakota. C. F. Kellogg. receiver, Bismarck. Williston State Bank, Williston. North Dakota. G. R. Van Sickle, receiver, Minot. Citizens' State Bank, Pingree, North Dakota. C. H. Reimers, receiver, Carrington. Citizens' State Bank, Hazen. North Dakota. C. F. Kellogg, receiver, Bismarck. Security State Bank, Brantford, North Dakota. C. H. Reimers, receiver, Carrington. Bank of Leal. Leal, North Dakota. C. I. Buslee, special deputy examiner, Leal. Peoples' State Bank, Hatton, North Dakota. O. L. Engen, receiver, Fargo. Citizens' State Bank, Bathgate, North Dakota. John Vallely, receiver, Grand Forks. Sawyer State Bank, Sawyer, North Dakota. G. R. Van Sickle, receiver, Minot. Itemized lists of the assets are on file in the office of the state examiner at Bismarck, and with the receivers of the above banks. Bids should contain terms of payment and may include time certificates of deposit in going banks in the same community, all bids to be accompanied by certified check of one per cent of the amount of the bid. All bids should be addressed to Gilbert Semingson, state examiner, Bismarck, North Dakota, and the State Banking Board reserves the right to reject any and all bids. (Herald Oct. 26-27; Nov. 2-3.)
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SUIT STARTED Fargo, N. D., Jan. 18.-Suit for $22,250 against O. L. Engen. as receiver for the Prosper State bank of Prosper, N. D., was started today , in Cass county district Court by the State of North Dakota, doing business through the Bank of North Dakota. Alleged transactions between the Scandinavian American bank and the Bank of North Dakota under the former state administration, were brought into the case by the defense. The Bank of North Dakota alleges that $22,250 was redeposited with the Prosper State bank. The defense denies that the bank ever actually deposited this sum with the Prosper State bank.