Union City National Bank (Union City, NJ)

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BANKS

(Continued) believed that they would be allowed in shortly. Township of North Bergen, which had $125,000 deposit closed Steneck Trust Co. Hoboonly the closed Bank of North Hudson. had large acthe bank. Union City had distributed between the Bank North Hudson, Union City National Bank, and Trust M. Henry Better Archibald Henry. 68, president the his home, 68 Kensington Jersey City, today reported deeply affected, but not impaired. by the closing chain. had given most his personal fortune avert for Union City and the National Bank named today by the Washington wind affairs of national Deputy Comptroller the Currency Await, nounced the of Jones receiver for Union City National and B. Schramm was for the North The liquidation the Jackson Trust the Bergenline Trust Co., Union cannot the state before which time Banking and Insurance Commis sioner H. Smith will inaug. urate the liquidation task Chancery Court appeal the liquidation. Conrad Corade, assistant Cath olic Church of Union City, delivering in Italian from the steps Trust Company afternoon group depositors who gone to the bank to officials of Jackson Trust Company and the Bergenline ten until fill cation for order banks the closing order the and Thomas Lally, of Hud. $50,000 county funds on the National Bank of North Hudson and the BerTrust the Steneck Trust closed was County funds were deposit Arthur Potteralthough the Company, failed have Jersey City's deposit bank withdrawn before the situation saying he had the Co. in danger being and for not have the city's Dr Charles Purdy expressed the belief Henry there are unexpected He said short ago feared that attack diabetes, other complications, would fatally, then Mr. Henry responded well strong hopes entertained for restoration to the sacrifice that Mr. by the records at the Hudson County Court House the show that Mr. Henry. going for payable National Bank North Hudson, vacant plot on the side Cooper vacant 100x136 on north side Jewett Boulevard: brick dwellings, and Jersey and vacant 172 Railroad $75,000. payable demand the story prithe and the levard on of held by Eva S.

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DECKER REFUTES RECK ON BANKS

No Cash Under Liquidation For Two Years, He Says.

William E. Decker, counsel for the stockholders and amalgamation and positors seeking of the National Bank of reopening North the Union City National Bank. today took issue with Jacob Reck's that Lawyer the Union City National depositors Bank could paid almost immedithrough The group have Union branch of larger institu- leading depositors of the Reck smaller to the of the Bank Reck that can made totalthat building, fixtures, collateral notes, on and $300,000 against the stockholders. Agreeing that Reck's figures posthat are Reck wrong the time that the depositors under would take Separate Trust Funds of the Union City National Bank branch National Bank North Hudson in the former bank penny what coming Decker Assets of bank would be kept separate said. And the proposed trust funds would kept he conDue the of the Union City trust fund all pay according This, to the cash would would 100 the dollar, the posed per cent. in stock in the bank Denying that he would be trustee the trust fund of either bank under reorganization Decker been that the would be named trustee

Depositors Sign The National Bank of North Hudopened offices yesterday give chance sign of the bank the the for day. The the day those reopening the bank The payment the old depositors cent. in cash, 7½ per cent. in stock of the proposed new bank, 32% participation ficates trust fund which would assets the new be take held last night by the of the opposition will held St. John's Parish Hall, 157 North St., Jersey stockholders' committee. of which Decker seeks have Bank North Hudson and the Union National Bank under with the bank branch of the The for receiving approvals being every day.

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MORE CONSENT TO BANK PLAN

Two-thirds of Depositors Approve Opening, Committee Says.

Hope for success the plan reopen the National Bank North Hudson and the Union City National Bank as one institution increased towhen the depositors' reorganizaapproval of the plan from slightly than the banks. Bank North Hudthe suspension and the Union City National Bank, $800,000. sudden increase the number depositors are agreeable the plan due the efforts of 75 canvassers who been making on people either being headed by John the month with the hope that number up for the plan that the may open by Feb. the latest, the committee The of depositors in the Union City National Bank who are for the slightly than North Hudson National Bank.

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Union City Bank Receiver Sues

TRENTON. C. Schram, the National Bank North at Union City, started suits Federal Court today against two shareholders allegedly failed levied the Currency able the bank meet its debts. Minnie Schults, of Union City, named defendant one suit for representing shares of capital stock with par value of $25 each. and William M. Schuls. Union City, defendant another $350. He owned 14 shares of stock. tural sections of the country since last Summer, suggest state mind Congress must deal with sympaThe who ten years ago, added to his at prices two or times normal income showed the poor judgment the who "equities" 1929 that sub75 that he the victim entirely of the decline in prices, high taxes interest and that must be helped of troubles.

More Inflation Proposals.

The attempt to correct the several effects of inflation more tion made in the past year. proposed again Concannot succeed. bad situation worse follows the lines that have been experienced other countries since the must get quickly possible down facts debts created during the period prosperity cannot must be made circumstances debtors. This the only way by which can be accomplished. The sooner realized the earlier the phase of set concerns only debts domestic origin but those between our ment debtor countries Europe. It involves changed attitude on the the Finance Corporation toward borrowthat shown capacity for successfully carrying on their own affairs are the government loans to should the Frisco Railfor road expect further when behind on the interest on loan? Security Markets Firm

In spite of the tions faced the business world the beginning the new year. for this sisted markets The strength 1930 stocks attributed renewed currency Fends that should react adsuggestion have versely direct They have likewise the enormous which money seeking vestment for day or the highest type corporation Treasury Nearly advanced above year since the of top paper for the showing high degree paid Dec. bank statements for This trend money rates similar the late prices bonds that may equal the the for the fact that stocks not for three deflation years from and the their prices they

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Kleffmann Widow And Cullum Sued By Bank Receiver

(Special The Jersey Journal) suit has been filed In Federal Court by Roger L. Jones, receiver of Union City tional Bank, in connection with the Theckla Kleffmann, 4183 Boulevard, North Bergen, and Commissioner Paul North Bergen, made defendants the suit yesterday by the through his attorneys, Rinaldi Shanley, of Union The suit directed against both parties spectively, of the estate of BouleCommissioner Theodore Kleffmann, who died Nov. 14, them collect 200 shares of stock Union City National which by Federal Judge William In like litigations will result, in the filing number suits against other stockholders.

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Kleffmann Widow And Cullum Sued By Bank Receiver

(Special Journal) suit has filed in Federal Court by Roger Jones, receiver of Union City tional Bank, in connection with Theckla Kleffmann, 4183 Boulevard North Bergen, Paul Cullum, of North Bergen, made the suit yesterday by the through Rinaldi Shanley, Union The suit la directed against parties and executor, spectively, of the estate BouleTheodore Kleffmann. died The suit directed them collect on 128 shares of stock Union National which City was purchased by Kleffmann. recent decision of Federal Judge William Clark like litigations result, expected, filing number suits against other bank stockholders.

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2 More Sued for Bank Stock Levy

Two suits against stockholders the closed Union City National today are file in Court connection with levy made by the bank's receiver, Roger The defendants are August Miller Eldorado Bergen. Max Miller, 301 35th St., North suit against August Miller, owner of 578 shares, the mands payment the suit against Max owner 144 receiver demands of $3,600. The suits were filed through attorRinaldi & Shanley, Union

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New Bank Receiver Takes Over 17 Suits

Stoch, new receiver the closed Union City National in an order signed by Judge William Clark, has been substituted plaintiff in the suits file against the institution. On Feb. the receiver took from Roger Jones, receiver. The suits filed connection stock litigation brought Jones against the the plaintiff the tained from Judge Clark by Rinaldi pearing the Those defendants the suits include Henry Cianfrone HarTheckla Kleffmann, Paul Cullum, executrix and cutor of the estate Theodore Theckla Kleffmann, and Irene Arthur Mahon, Charles August Miller, Charles Howard Samuel and Harry Prashker.

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Bank Receiver Sues More Stockholders

TRENTON. (P)-Samuel Stock, receiver of the Union City National Bank, started suit in Federal Court today against Thomas H. and Amelia M. McCaffrey, 012 16th St., Union holders. City, for $500 liability as shareStock asserted they owned 20 shares. 1931. The bank closed in August,

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REPORTS CONFLICT TRUCE

Chinese Say Last Minute Hitch Has Developed; Tokyo Lists Terms.

TOKYO, May 26 -Conflicting reports emanate from the Far East concerning truce in the fighting on the North China The Japanese Foreign Office claims a preliminary truce has been orally reached, with formal armistice set for next Monday Reports from Peiping declare however. last-minute hitch has developed. At the time Chinese leaders in Shanghai in rethe truce was effective. The terms of the truce, the Japanese says, are that Chinese forces are to be kept southwest of a line cutting across the North China territory running within 15 miles of Peiping, while Japanese soldiers remain northeast the boundary Cessation of Chinese "provocations" also figure in the deal Meanwhile. unconfirmed rumors circulate in Tientsin that Japan has demanded evacuation of Peiping and Tientsin. recognition of Manchoukuo and payment for Japanese military expenses south of the Great Wall.

JAPANESE AGREEMENT WITH U. S. IS DOUBTFUL

By WILFRID FLEISHER Special EVENING TOKYO May 26 -Great interest is being manifested here in the conversations at Washington between President Roosevelt and Viscount Kikujiro Ishii. head of the Japanese economic mission, although there is little confidence in Japan that the conversations will lead to any substantial agreement. The Japanese have long feared Mr. Roosevelt may attempt to force upon Japan inacceptable conditions and they hope that Viiscount Ishii will resist American pressure and that he will gain sympathetic hearing for an exposition of Japanese policy It assumed here that President Roosevelt will refer to the Japanese military operations in North China and. if he does. Viscount Ishii will be able to give definite assurances not only that an armistice has been agreed upon and is about to be signed, but also that the Japanese troops may withdrawn shortly the Manchoukuo side of the Great Wall. agreement can be reached with the Chinese on certain political questions It foregone conclusion. according to the view held here, that President Roosevelt will discuss disarmament with Viscount Ishii in the light of the Roosevelt peace plan implemented by the speech Geneva by Norman H. Davis, American ambassador-at-large The consultative pact idea is not pleasing to Japan The idea of conference of nations to determine an aggressor savors too much of the League of Nations procedure in dealing with Japan which led to this country's withdrawal from the league while the Davis definition of an aggressor as the nation armed forces into the of another nation in violation of treaties is still less palatable to the Japanese.

COURT UPHOLDS RULING ASSESSING STOCKHOLDERS

PHILADELPHIA, May 26 Authority of the comptroller of the currency to levy 100 per cent. assessments on stock in closed national banks absolute the United States Circuit Court of Appeals ruled Thursday Only in case of obvious error mistake fraud will the courts interfere decreed in dismissing the appeal of three stockholders New Jersey They had been assessed 100 per cent. on their holdings by the receivers of the Union City Bank and the National Bank of North Hudson.

MRS. SHEPARD RE-ELECTED NEW YORK May 26 (AP). Mrs. John S. Shepard Thursday was reelected chairman of the New York State Women's Organization for National Prohibition Reform the annual Mrs Shepard asserted We must keep our organization intact in this state and ready for action until ratification is an accomplished fact."

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Has No Assets, Says Parentini

Former Assemblyman Arthur Parentini of Union City testified that automobile and uncollected judgment of $400 are his when questioned proceedings to mine the of stockholders the closed Union City Na. tional The questioning of stockholders against whom receiver for the secured judgments being the offices George P. Moser, Master in ChanOtto Koenemund, against whom the obtained ment $546 and Domenico Geneagainst whom ment of $420, were to examined today. yesterday's hearing realed the bank has ment against