cc5d0babNone
Click image to open full size in new tab
Former Grafton Man Named Bank Receiver Bismarck, N. D., Aug. 5.-T. J. Hagen, formerly cashier of the Scandinavian-American bank at Grafton. has been appointed receiver for the Farmers' State bank of. Walum, it. was announced by State Examiner Lofthus following a banking board meeting held late yesterday.
Click image to open full size in new tab
ALL DISTRICT RECEIVERS ARE NOW APPOINTED C. H. Reimers of Carrington is Named Head of New Rockford District Appointment of district receivers under which many closed banks are to be handled by a very few receivers was completed by the state banking board with the appointment of C. H. Re.niers, of Carrington, as receiver for the New Rockford district. This district embraces the following closed banks: Security State of Courtenay, Security State of Brantford, Farmers State of Walum, Bank of New Rockford, Citizens State Bank of Pingree. /There are a few banks which the banking board has not been able to include in its consolidation effort, which was undertaken to reduce ex penses and to obtain more efficient supervision of closed banks, according to members of the board. because a few receivers refused to resign - and obtained confirmation of their appointments by the courts. No change of receivers was made in some cases because there is said to be excellent prospect of the banks reopening. L. C. Vorbayda, of Lawton, and O. Eide, of Devils Lake, have been named deputy state examiners. Eide will be stationed at Jamestown.
Click image to open full size in new tab
Bank Receiver In Griggs Is Sued By Man Holding C. D.'s Bismarck. N. D., Sept. 23.-Suit against C. H. Raimer, receiver of the Farmers State Bank of Walum, Griggs county. for recovery of $9,000 and interest on certificates of deposit which were given by officers of the bank. now closed, has been instituted in the district court here. It is al+ leged by the plaintiff, A. C. Dallach of Chicago, that the receiver has refused to pay the certificates or recognize them as a valid claim. The answer filed by C. L. Young, attorney for the Guaranty Fund Commission. admits refusal to pay the certificates and alleges fraud in conThe plaintiff's petition, filed by Scptt Cameron, attorney, says that at various times in 1921 certificates of deposit were issued to Richard A. Kelly, the total amount being $9,000. They were issued in amounts of $500, nection de with their issuance. $1,000, and three of $2,500 each. A. C. Dallach, the plaintiff, who is a mechanical engineer, says that the certificates were assigned to him in various real estate deals. The certificates were issued by E. W. Iverson, cashier, and indorsed by Geo. F. Jacobson, president of the Farmers State Bank of Walum, which closed August 4, 1921. The answer to the petition says "alleges that the certificates were issued by George F. Jacobson in the name of the bank and not by the bank, and one E. W. Iverson whose name appears subscribed as cashier, when they were not directed, authorized or permitted to execute such certificates."