f34fc754cbb10fe3Full suspension
Other: Bank was placed in receivership and subsequent litigation was pursued against directors for alleged preferential withdrawals; these are post-run remedies rather than stopgap liquidity measures.
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BANK RECEIVER FILES TWENTY SUITS OVER STOCK ASSESSMENTS Suits filed in Roswell have been received at the U. 8. district clork's office here. They are suits by H. A. Jacobs, receiver of the First Na. tional Bank of Clovis. against number of defendants over bank as sessments. The names of defend ants Pipkin, E. W. Rea gan, Will H. Pattison. H. Ford. Rodes. O. Pritchard S. H. Rhodes. B. Eastham, Ned 85 Miller F. Sellers M. Woods and Joseph A. Smith.
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BANK RECEIVER HERE. H. A. Jacobs, for the First National bank, of Clovis, N. M., was here yesterday for with El Paso attorneys relative to litigation in which the trust is interested.
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FEDERAL COURT NEWS Orders signed today by Judge Neblett William W. Hendrick of Dawson, error with Coltax county, discharged from bankruptey that existed August 1. 1923. Eppy L. Northcutt, of French. Colfax county. discharged from bankruptcy that existed December 23, 1924. William C. Kennedy, of Seboyeta. Valencia county, is named U. S. commissioner OFF_R OF $8000 APPROVED In the case of the War Finance Corporation vs. the Livestock and Agricultural Loan company of New Mexico: Judge Phillips signed an order authorizing Levi A. Hughes, receiver of the livestock loan company to accept $8,000 from M. U. Finley satisfaction of indebtedness of Mr. Finley DESTRUCTION OF LIQUORS Judge Neblett signed an order in of the bank. the matter of the destruction of liquors and materials used in the manufacture of liquors It requires the U. S. marshal immediately to prepare a motion and form of order for the destruction of liquors when they have been seized and may be destroyed. CONDEMNATION SUIT A final order approving report of commissioners in the case of the gov. ernment VS. the Pueblo of Taos et al. was signed by Judge Neblett in a land suit. MANDATE FROM SUPREME COURT A mandate was received from the U. S. Supreme Court in the case of T. M. Wing vs. C. C. Ozmont, receiver of the Bowman Bank & Trust entered in the district court October 24, 1924. in favor of Ozmont. The supreme court dismissed the writ of costs. CLOVIS BANK SUIT Suit was filed today in the U. S. district clerks office by James M. Porter as receiver of the First National Bank of Clovis VS. Daniel W. Dunn, and Homer A. Jacobs as receiver of the First National bank in Clovis, asking that a payment of $7.360 to Mr. Dunn be adjudged an 11legal preference and that the same be set aside, and that Mr Dunn be required to make restitiution of said money with interest. It. is charge that Mr Dunn as director of the First National. which suspended. knew was no longer safe to leave his money in it-a deposit of $8.909 -and that on January 7. 1924. seeing the bank's fàilure imminent Mr. Dunn drew check for $1,360 with the knowledge and consent of the officers It is charged that it. was the duty the officers and directors of the bank, including Director Dunn. 10 preserve all of the assets of the oank including the deposit of Mr. Dunn. but contrary to this duty the bank honored Mr. Dunn's check when presented. thereby preventing the amount from being ratably distrib uted among the bank' creditors Messrs. Hall and McGhee, of Clovis. are attorneys for plaintiff A similar suit is filed against C. Frank Doughton charging that he as director of this bank. took an unfair advantage and that he withdrew $3,286.50 of a deposit for 153.62 in the name of the Doughton Land Company, of which he was the sole owner is stated that there was run on ary 8. when the bank closed.
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BANK RECEIVER SEEKS $7360 FROM DIRECTOR (United Press.) SANTA FE, N. M., May 13.-Alleging that Daniel L. Dunn, director of the bank. drew check for $7360 against deposit of $8909.1 on January 17. 1924, seeing that fail ure of the bank imminent at that time, James M. Porter, receiver of the First National Bank of Clovis, has filed suit in the federal court against Dunn and Homer A. Jacobs, asking that the payment of the $7360 to Dunn be adjudged an illegal preference, that be set aside and that Dunn be required to make restitution of this sum plus interest. similar suit has been filed against Frank Doughton, also director, alleging that withdrew $3826.50 of deposit of $4153.62 in the name of the Doughton Land company. It is said that a run on the bank. January lasted January 8, when the bank closed.
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FEDERAL COURT NOTES The following orders were signed today by U. District Judge Colin Neblett: In the matter of the receivership of the First National Bank in Clovis, Clovis, N. M., sale of bonds authorized. In the case of Albert H. Denton, ceiver of the City National Bank Paso, Charles M. judgment in favor of the plaintiff for and interest. In the case of the United States of America rel Pueblo of Santa Clara and San Ildefonso. Antonio Vigil cause dismissed without prejudice. In the case of Grace B. Doering VS. Joseph Barnett, et tal, cost bond executed by the plaintiff for $1,000 is released. In the case of Clarence Rankin et the plaintiffs will reçover from defendant $500 in full payment. BANKRUPTCY MATTERS Bankrupts' petition for discharge acted upon as Walter H. Pace, of referred to Fullerton at Samuel Pickens, of Estancia, to Mr. Fullerton. Discharges granted Warren Earl Simons, of Clayton; to the coof Ernest Livers and partners Mary B. Livers and Ernest Livers and Mary B. Livers individually, of Mountainair to Eppy L. Northcutt, French. Case of Mike Joseph and Rose Joseph ordered closed also of Claude William Carlson and Orvel Brown of Estancia, and Thomas L. Lowe, of Silver City. Application for discharge Charles Skinner, Albuquerque, referred to George Taylor, James R. Doolney. Santa Fe. to Mr. Fullerton, Santa Fe: William Meyer, of Santa Fe, to Mr. Fullerton: William Murray of Silver City, to Frank Wright Silver City: Henry Westerfield Son, co-partnership, composed of Henry Westerfield, GusTaylor at Albuquerque: Abe of to Wright at Silver City Edward C. Eaton of Socorro Mr. Taylor, Silver City: Clyde Hooper, of Raton to George Alexander Janos of Hanis, at to Mr. Taylor Albuquerque. SLOAN NAMED COMMISSIONER Sloan was named U. Oglesby Commissioner at. Quemado, Catron county.
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BANK RECEIVER AT CLOVIS ENDS LIFE George U. Schweinfurth. receiv. of the First National bank in Clovis killed himself April at Groom, Texas, by shooting himself in the heart, according to a letter received here. Mr. Schweinfurth also was receiver of the bank at Groom. He was 32 years old.