9f17dc9fFull suspension
Other: Reorganization and reopening as Douglas County Bank of Omaha; receivers and assistant receivers appointed for liquidation work.
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South Omaha Bank Closes Its Doors OMAHA, Aug. South Omaha State bank. with capand deposits mately $1,000,000 has been turned over the dpartment trade comliquidation, was here night. The South Omaha bank the third Omaha bank close the past week. The State Bank Omaha closed Monday. "Freczing" of the Farmers and Merchants Benson. suburb Omaha, the State Bank of Omaha, forced the Benson bank to close.
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WILL NOT APPOINT RECEIVER AT ONCE OMAHA. (UP) receiver not be appointed by State Receiver H. H. Luikart until the audit of the books of the State bank Omaha has been completed. This will consume two weeks. Until the receiver takes charge no of the bank's condition will be issued. Plans for reorganization of the Farmers & Merchants bank at Benson, which closed because $125,000 of its reserve was on deposit at the State bank. are expected to be approved at meeting of depositors Friday Those in charge of the rework said sentiment in Benson is unanimous for early reopening of the bank.
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WILL NOT APPOINT RECEIVER AT ONCE OMAHA. (UP) receiver will not be appointed by State Receiver E. H. Luikart until the audit of the books of the State bank Omaha has been completed. This will consume two weeks. Until the receiver takes charge no announcement of the bank's condition will be issued. Plans for reorganization of the Farmers & Merchants bank Benson, suburb, which closed because $125,000 of its reserve was on deposit at the State bank, are expected to be approved meeting of depositors Friday Those in charge of the work sentiment Benson practically for early reopening of the bank.
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ANOTHER OMAHA BANK SUSPENDS Union State Closes But Expects to Reopen Soon. Aug. 15 (AP) The Union State bank of Omaha pended business today treat all patrons as fairly possible,' officials Plans are being formulated to re-open at an early date. and in the meantime the state department trade and commerce charge On June 30. the time of its last bank had deposits and The Union State bank the fourth Omaha within the past week. The State bank Omaha and the Farmers Merchants bank Benson closed Monday and the South Omaha State bank closed yesterday Statement by Woods. George Woods, state issued statement regarding the Union State bank "The Union State bank of Omaha suspends business today. The partment of trade and taken charge to conserve assets and protect interests Examiner Lau in charge. Horacek president of the bank. states that suspension three other in the durhas unprecedented withdrawals. which could not immediately withstood To treat all patrons fairly as possideemed best to suspend 'Plans are being worked upon to reopen the bank early date.' Reserve According to Joseph Votava, attorney for the there heavy Monday after the State bank but dwindled daily until vesterdav. Then. after closing South Omaha State bank there the another heavy run the was cut below the legal reserve limit State officials later today revealed that resources the four banks closed this week totaled compared total of all Omaha banks. Governor's Statement An official issued from the office Saturday foresaid that the Union State of Omaha had been taken the state departover ment the quest its officers and directors Horacek was president Jacob Horacek vice president, and Emil cashier The bank had deposits of about million but had experienced
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MOVE TO REOPEN BANK AT BENSON Depositors Vote to Permit Money To Be Used for Purpose. OMAHA, Aug. mately 1,000 persons met here day night for discussion of way to reopen the Farmers and Merchants Bank of Benson, which closed last Monday after failure of the State Bank of Omaha. Those interested in the Benson bank voted sign release committe five allow them certain amount the bank's deposits to remain in the institution and for in the building up the legal reserve Those charge of the reorganization affairs planned the limit restore the work will in conjunction the state bank how much must be the establish the depends upon the notes held by the bank.
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PLANS BEING MADE TO REOPEN INSTITUTION AT EARLY DATE Omaha, Aug. by milling excited crowds intent their savings, the leading banks Omaha today ed the regular Saturday closing hour of noon, into the discard and announced they would remain open day satisfy depositors wishing withdraw their' funds. The run on the larger banks started in full fury early today with the that the Union State bank of Omaha had closed "to It was the fourth in Omaha close since Monday. run created by the three previous closings blamed the closing of the Union State bank. All the closed banks were members of the state bank assoWith the announcement that the larger banks were prepared the with plenty of cash on hand. the crowds milling about the thinned little and the tension seemed broken. On June 30, the time of its report, bank deposits It was capitalized $200,000 and had surplus of $40, 000. The Union State bank is the tourth Omaha bank close within the past week. State Bank Omaha and the Farmers and Merchants Bank of Benson closed Monday and the South Omaha state bank yesterday. George W. Woods, state bank commissioner, issued the following regarding the Union State bank: Union State bank of Omaha suspends business today. The trade and commerce has taken charge conserve asand protect all interests. Lau is in charge. "F. president of the bank, that suspension three other banks in the city dur ing the week has caused an unprecedented which could not be immediately withstood. To treat all patrons fairly possible was deemed best to suspend payments.' "Plans being worked upon to re-open the bank an early date." According Joseph Votava, attorney for the bank, there heavy run Monday after closing the State Bank Omaha, but dwindled daily until yesterday. Then, after closing of the South Omaha State bank, there was another heavy run and the cash reserve was cut below the legal
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STATE SUSPENDS Fourth Institution Affected By Heavy With- PLAN TO REOPEN AT EARLY DATE OMAHA, Aug. 15. milling excited crowds intent on withdrawing their savings, the leading banks Omaha today tossed regular Saturday closing hour of noon, into the disand announced they would remain satisfy depositors wishing to withdraw their funds. The run upon the larger banks started in full fury early tothat Union State bank of Omaha had closed "to safeguard deposiIt was the fourth bank in Omaha to close since Monday. With the announcement that the larger banks were prepared meet the with plenty of cash on hand. the crowds milling about the entrances thinned tle and the seemed broken. Union State bank of Omaha pended business today. "to treat all patrons as fairly as officials announced. Plans being early date, and in the the state department of trade in charge. On June time last report, the bank had posits was capitalized at and had surplus of $40,000. Could Not Meet 'Run' The Union State bank the fourth Omaha bank close withthe week. The State bank past Omaha and the Farmers Merchants bank Benson closed Monday and the South Omaha State bank closed yesterday. George W. Woods, state bank issued the following statement regarding the Union State Horacek, president of the bank, states suspension three other banks in the city the week caused an during withdrawal run which could not be immediately withstood. To treat all patrons fairly possible was deembest to suspend payments." 1,000 At Meeting 15 imately persons met here last night for discussion of ways and means of reopening the mers Merchants bank of Benwhich closed last Monday after failure of the State bank of Omaha. Those in the Benson bank voted sign release to allot certain amount of the bank's deposits to be posted for use in building the legal reserve. State officials later today vealed that the the four this week totalas total resources Omaha banks. H. Rodgers of Lincoln was visitor in the yesterday.
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GOVERNOR APPOINTS RECEIVERS OF BANKS GEORGE E. HALL TO HAVE STATE BANK OMAHA. Bryan Says That Efficiency and Not Locality or Politics Control Choice. Governor Bryan announced apant receivers recently failde pointment the following assiststate banks: George E. Hall, Lincoln, State bank Omaha. Barak, Petersburg, South Omaha State bank. Haase, Norfolk, Farmers Merchants, Benson. W. M. Whalen, Lincoln, First State bank, Reif, Bloomfield, Leigh State Brozek, Chadron, Bruno State Bruno, and bank of Wisda, Ord, Butler County State bank, David City. Ruzicka, Schuyler, Dwight State bank, Dwight. Lincoln, State examiner in charge of Union State bank, Omaha. Secretary Luikart of the department of and ceiver of all state banks and the will as his assistants in liquidating the failed banks under their charge. M. Morrisey, former chief justice, had been appointed for receiver the State Bank of Omaha, Eugene O'Sullivan, attorney for the receiver the South Omaha State bank, Harland Mossman for the Union State and Howard Saxton for the Farmers and Merchants bank of Benson. These attorneys all reside in Omaha. Governor Bryan announcing said policy the of and use the efficient receivers the staff rather than to make local political The appointees are now charge of banks and have shown liquidating for the benefit depositors, said the governor. He stated that he had received letters some petitions in one day written in the interests one but had thought not the best interests the depositors to appoint the man. "These assistant receivers are skilled bankers, said Governor Bryan, "and have their present works so arranged that others can take their places these highly trained men assume duties where.' Most of the attorneys appointed (Continued on Page 5.)
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BRYAN APPOINTS BANK RECEIVERS (Continued from One.) know the political affiliations most those on three the newly appointed assistare democrats, but Bryan ttat their and bank matters, their politics, which caused them to be selected. Move to Reopen Two Banks. Advices from Omaha are that tive efforts are being made organize reopen Union State bank Omaha and the Farmers' Merchants bank Benson, suburban community that city, with good prospects In order to do this it will be necessary that the stock tirely in ditional amounts for provide sufficient assure depositors repayment. Restrictions put on deposits, however, part of the money man remainder being left in for specified periods time. Provision will also have to be made take care accrued debtedness the banks state guaranty fund and the final which an equal the case the Union State bank Omaha fund debtedness about Should bank rehabilitated and several of the baanks Butler, Seward Colfax counties which had their reserves in reopen, since tied up may their troubles were primarily due to the closing of the Omaha institution.
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MASS MEETING IN INTEREST BANK OMAHA. Mar. 24 stockholders the Farmers Merchants Benson until re-organization presided Commissioner George the banking here last night. additional stock subscribed that time the allowed Woods the plan receiver probably will asked, said. The financial institution the busy northwestern suburb, has closed for six months pite many attempts to reopen
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Dividends Paid to Depositors of Four State Banks. The Farmers Merchants State bank Benson which Monday speeded and opened for business Saturday. for organization state banking the name the Douglas Bank of Its assets are except the banking building and charge. deposits to buy the Dividends depositors of failed paid state department follows: Bank first dividend, percent, State bank, West Point, percent, Commercial Grant, percent, Omaha 15 percent idend on deposits received result pens allowed the court,
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State News Items of Interest nests chickens and gathering hen eggs now. Hen bring from to ten cents dozen at stores Crow are worth dozen. The county bounty crows applies to young and eggs. Nelson of North Platte was elected president the princiand association Nebraska State Teachers associameeting at Lincoln. He succeeds Bitner of Fullerton. Novotny Beatrice elected vicepresident, and John Weisensee of The Omaha livestock exchange has issued warning sheep raisers not to send any offerings of aged the The warning was issued after head of aged sold for ten cents each. When the price reached the ten cent level, one commission house refused to accept load of aged The city of Lincoln, will sustain loss of $3,000 result of the moval the railroad, over which materials have been moved to the state capitol grounds, was estimated. The loss represents the difference between the $1,247 deposited the state capitol commission by the city treasurer and that will be required to H street where are to be removed. chicken hatchery reports showed per cent fewer set fewer hatched, the state federal division of agricultural statisticians reported. the United States, the report showed fewer eggs set in March and per cent fewer saleable chickens hatched. Saleable chickens hatched January March clusive show increase nearly per cent, the statisticians reported. the name of the Douglas County Bank of Omaha, the reorgan ized Farmers' and Merchants Bank of Benson has reopened for business. of the reopening was made by Clement Waldron, president, following approval the state banking department details of the reorganization plan. Waldron, said persons who had deposits in the old bank may get 30 percent their deposits in cash open account in the bank for the amount.
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Under the name of the Douglas County Bank Omaha, the reorganized Farmers' and Merchants Bank of Benson has reopened for business. of the reopening made by Clement Waldron, president, following approval by the state banking department details of the plan. Waldron said persons had deposits the old bank may get 30 percent of their posits cash open account the new bank for the amount.
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News nests more than raising chickens and gatherten cents dozen Crow worth The county bounty applies and North Platte elected president of the and superintendents association Nebraska State Teachers associameeting Lincoln. He of Fullerton. Beatrice and Weisensee The Omaha livestock exchange issued warning to sheep raisers offerings of aged to the Omaha The warning was issued after head of aged sold for ten cents each, When the price reached the ten cent level, one commission house refused to accept car aged The city of Lincoln, will sustain of $3,000 result of the moval the street" railroad, over materials have been moved the state capitol grounds, was estimated, The loss represents ference between the $1,247 deposited the state capitol the city treasurer and $4,200 that be required to H street the tracks are to be removed. March chicken reports showed cent fewer set per eggs per cent fewer saleable chickhatched, the state and federal division of aggicultural statisticians reported. For the United States, the report showed fewer eggs set in March and per cent fewer salechickens hatched. Saleable chickens hatched January to March inclusive show an increase nearly cent, the reported. Douglas County Bank Omaha, Farmers' and Merchants Bank of Benson has reopened for business. Announcement of the reopening was made Clement Waldron, presidest, following approval by the state banking department of details of the reorganization plan. Waldron said persons who had deposits in the old bank may get 30 percent their deposits in cash or open an account the new bank for the same amount.