First National Bank (Webster Groves, MO)

Article Text

CITIZENS CALM DURING EMERGENCY

Exchange Bank Suspended Operations In Conformity Presidential Proclama- tion.

The Banks of Holt County suspended normal morning to conform Saturday with state wide holiday order a issued by Governor Guy Park. for Since that time President of Roosevelt has issued a proclamation all the banks closing the United States for a period ending Friday, March 10. The local banks have followregulations ordering them laid down by the secreclose, of the treasury. Some have tary remained open during regular hours for the purpose banking of making change. There is no cause for any alarm the local regarding tion as all the Holt County banks are believed to be in cellent condition. has been convened Congress special session beginning today (Thursday) and acnoon cording to radio reports have legislation conferring passed extraordinary to Presipowers dent Roosevelt, trol all banks until this emeris safely past. The spirit fortitude and patience with which the people this community and the tire has reacted to the country bank holiday, has emergency been surprising. individuals and busiMany houses found themselves ness with small amount of only hand when the currency on bank went into effect. holiday St. Business has been retarded to extent. Merchants some most cases have accepted checks for the exact amount but have been purchases tant to let loose of any currenor silver in change. Bank here The Exchange to be strong as known is anywhere, and bank there must be attributed its closing solely to the the nation. ditions throughout thing that Now the only to await the order to with patience banks after the the open and regulational adjustments formulated and tions have been issued.

Article Text

DEPOSITORS

U. S. Comptroller Gives Status of Missouri Finincial Institutions; Are Being Reorganized.

WASHINGTON, Jan. in deposits tied up National Banks in Missouri that failed to open after banking moratorium last March, all but approximately has been freed depositor use, the comptroller the currency announced today. The status the banks that failed to open: Five banks involving deposits of $22,891,000 have been reopened, habilitated, reorganized under new charters, acceptable assets to another bank. Three banks with $1,543,000 deposits have approved reorganization plans in various stages consummation. They the are Grand tional Bank, Louis; the First tional Bank Webster Groves; and the First National Bank, Lamar. Two banks with deposits of $278,do have approved plans reorganization. They are the First National Bank, Mountain Grove, the First National Bank, Windsor. Three banks with deposits of the hands receivfor liquidation. They are the Cherokee National Bank and the Southside Bank, both Louis, and People' National Bank, Seymour However the Southside National Bank receivers have out an approved organization plan which contemplates the release of 100 percent secured and 50 percent of deposits The five banks that have been reorganized First National Bank, Clayton; Third National Bank, Sedalia; Citizens' National Bank, Maplewood American Ex. change National Bank, St. Louis; and the Fidelity National Bank and Trust Company, Kansas City.

Some 300 persons are living on Robinson Crusoe's

Article Text

DEPOSITS IN CLOSED BANKS BEING RELEASED

By The Associated Press. Washington, Jan. 000 in deposits tied up in national banks in Missouri that failed to open after the banking moratorium last March, all but approximately $9,000,000 has been freed for depositor use, the comptroller of the currency announced today. The status of the 13 banks that failto open: Five banks involving deposits of $22,891 have been reopened, rehabilitated, reorganized under new charters ,or the acceptable assets sold to another bank. Three banks with deposits have approved reorganization plans in various stages of consummation. They are the Grand National Bank, St. Louis; the First National Bank, Webster Groves, and the First National Bank, Lamar. Two banks with deposits of $278,000 do not have approved plans of reorganization. They are the First National Bank, Mountain Grove, and the First National Bank, Windsor. Three banks with deposits of $6,are in the hands of receivers for liquidation. They are the Cherokee National Bank and the Southside National Bank, both of St. Louis, and the Peoples' National Bank, Seymour. However, the Southside National Bank receivers have worked out an approved reorganization plan which contemplates the release of 100 per cent of secured deposits and 50 per cent of unsecured deposits.

Article Text

HOPE FOR REORGANIZING BANK IS DIMINISHING

WASHINGTON, March 7.—Hope of reorganizing the First National Bank of Webster Groves, closed for a year, is vanishing. The Comptroller has appointed Herbert Johnson receiver. This means liquidation, and at the comptroller's office today it was stated there was at present no means of knowing just what this process would pay out to creditors.

John W. Wenom of Webster Groves, vice president and cashier of the bank, was named conservator when the bank suspended in March, 1933. Deposits as of December 31, 1932, were $230,584, and capital was $100,000.

Article Text

MORE CHECKS AT 1ST NATL BANK

The Receiver, Herbert Johnson, of the First National Bank in Groves has most welcome New Years greeting. The fourth schedule of checks of the cent first idend have been received and ready for distribution. Claiments are asked call for them immediately. They will find the receivers office now located on the mezzanine of the old quarters of the First National Bank The first dividend was approved June by the Comtroller the Currency and the checks for the tion of payment were made out and about July The first checks were received here the middle of August. There are several hundred depositors who have not filed claims and the receiver urges these people to come and once parents the pupils Miss Patty enjoyed dance program given the Monday, December

Article Text

FIRST NATIONAL PAYS ONE HUNDRED PERCENT.

Money will be plentiful in Webster Groves during the next few weeks. The First National Bank receiver is giving out checks for the last payment to depositors of the bank.

Much credit must be given to Mr. H. M. Johnson, Receiver, who has worked with diligence to the end that not one depositor would lose a cent. Every depositor should give a vote of thanks to Mr. Johnson and also to Mr. John Wenom, the former conservator of the bank whom we understand gave Mr. Johnson wonderful assistance.

THE FOURTH.

Whether you still shoot firecrackers or whether you'd like to shoot those who do—it's still the Glorious Fourth, and you can't get away from the fact that you're glad you belong here in America. Citizens of Webster Groves may not agree on the most appropriate method of celebrating the nation's birthday, but one thing they are agreed upon is that it is entitled to recognition now, as it has been for more than 150 years, as one of our greatest holidays.

Maybe we've lost sight of the old constitution in a few respects, as some people claim. Maybe we've been living a little faster than our forefathers speculated upon, as no doubt we have. Maybe there are many ways in which we could improve conditions. No one will stop to dispute those things with you now, for everyone is too busy being glad that another Glorious Fourth is here and that we've still good cause to celebrate it.

It is one day in the year that young America won't let mature America forget even though it might want to after the seige we've been through during the past five or six years. Young America is still on its toes and shouting for the old flag And it is the spirit of this young America that keeps burning in old America's breast those undying fires of loyalty, patriotism and love of country. The Fourth of July means just as much now as it has ever meant, and it finds just as strong devotion in the hearts of Americans as it ever found. Upsets industrially and economically only served to show that it can withstand any storm, and still keep its place as the greatest nation on the globe. That fact alone calls for jubilation. So join again in the nationwide jollification; renew again your allegiance to the old flag and all that it stands for. Be glad again that you live in a land that has never lost sight of its original ideals.

JURY DUTY.

Most everyone recalls those hectic days before the depression when it was hard to get the average Webster Groves citizen, and especially those living out in the country, to quit their work long enough to do a few days jury duty. Work was plentiful, money was coming easily, and sitting on a jury was considered a poor paying job.

It isn't rated that way today and most men are glad of an opportunity to serve on a jury. It's a good thing for the community, too, because with an increase in the number willing to serve better material is secured. Time was when most anyone was accepted for this type of service and when the "professional juryman," usually a chronic loafer, was always sticking around where he could be easily summoned. But that time has passed. Today more substantial citizens, men of sound judgment, are serving on the juries of this country and viewing this type of service from a new angle. They are adding dignity to the law and a new dignity to jury service. That is something this country needs.

Now if lawyers and judges in every state will turn their attention to making the spirit of the law their guide, instead of seeking technicalities by which the law can be circumvented, the legal machinery of America will operate more justly, more equitable and far more satisfactorily than it has since pioneer days. The courts were launched in this country as a sacred institution and they must not be permitted to break down, a thing they will surely do if we lose respect for them.

The Mississippi river washes tens of thousands of tons of rich black soil down into Louisana every year, and Huey Long picks it right up and flings it back again.

Maybe you are not good enough to love your enemies, but you can be wise enough not to waste time by getting even with them.