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BANK RECEIVERSHIP ORDERED LINCOLN, Neb., Nov. 1.-The Fidelity Trust Company of Fremont was ordered placed in the hands of a receiver to-day by the State Department of Trade and Commerce. The company was being supported by the now defunct First National Bank of Fremont, department officials said. The company was capitalized at $100,000.
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Bank in Receivership LINCOLN, Neb., Nov. 1.-The Fidelity Trust Company of Fremont was ordered placed in the hands of a receiver to-day by the State Department of Trade and Commerce. The company was being supported by the now defunct First National Bank of Fremont, department officials said. The company was capitalized at $100,000.
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Trust Company Follows in Wake f Fremont Bank / "Assets Frozen Stiffer Than Polar Regions," Says Hart -Receiver Will Be Named. Lincoln, Nov. 1.-(Special.)Secretary Hart of the state department of trade and commerce, on his return from Fremont today, said the assets of the Fidelity Trust company of Fremont are "frozen stiffer than the Polar regions." This is a subsidiary of the First National bank of Fremont, which closed its doors yesterday. The reason for closing the trust company also, Hart said, was that it was financed solely by the bank. The trust company's assets consist of farm mortgages, real estate bonds and real estate. State Takes Charge. R. C. King, chief of the state banking bureau, was sent to Fremont to take charge of the trust ccmpany. Mr. Hart stated that deposits by other Nebraska banks in the First National bank of Fremont are small and that its failure will not cause serious embarrassment to these banks. The trust company was capitalized for $100,000. Frank B. Knapp is president; Frank Koss, vice president, and James A. Donohue, secretary and treasurer. Receiver Named. It has been understood generally that the Fidelity trust has been on thin ice for the last several months and the tumbling of the First National carried the trust company with it. The trust company occupied the same offices as the First National bank and when the latter was closed was a Fidelity notice would posted re-open stating as soon that the as offices could be located. The examiners, however, announced this morning that the business must go into the hands of the receiver.
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Charges Fremont Banker With Fraud Receiver of Defunct Bank Alleges Property Was Conveyed to Wife by Knapp. Fremont, Neb., Nov. 7.-(Special Telegram.)-Frank - B. Knapp, president of the Fidelity Trust company, a banking house which went on the rocks last week, is charged with attempt to cheat and defraud creditors by conveying property to his wife, in a suit filed in the district court by Bernard Ulrioh. receiver for the defunct First National bank. The failed bank holds two notes issued by Knapp, one for $400 and the other for $5,000. The first note for 90 days is past due, while the other one. also 90 days, is not yet due. Ulrich, however, alleges that Knapp is attempting to hinder and delay the collection of debts to the First National by transferring his property. The plaintiff claims to have found the copy of a letter in the effects of the Fidelity Trust company, whose offices adjoined the banking house, addressed to David Yung. In the message, the plaintiff states that he is sending a deed to some property, located in Fremont, and stating that the transfer is being made for the purpose of conveying the property to his wife. The epistle, dated October 24, asks Yung to execute a quit claim deed and return the same. The court house records show the recording of a deed from defendant and wife for real estate. It is generally believed here that this is only the first of a series of legal battles soon to follow in the settlement of the affairs of the First National and the Fidelity Trust.
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Police Seeking Head of Defunct Fremont Bank Embezzlement Charges Filed Against Frank B. Knapp -Attorney Says He Will Return. Fremont, Neb., Dec. 2,-(Special Telegram.)-Frank B. Knapp, prestdent of the defunct Fidelity Trust company, is wanted by the officials of Dodge county on a charge of the embezzlement and theft of funds amounting to $3,585. The funds are said to belong to a client, Stephen Carpenter, 80, Saunders county pioneer. According to Knapp's attorney, Frank Dolzal of Fremont, Knapp will return from Chicago at once. The head of the failed institution left this vicinity with his wife a few weeks ago. One daughter, Marjorie, 20, is in Fremont. Carpenter alleges that he gave Knapp $3,585 to be invested in Liberty bonds. Later, when questioned regarding the investment, Carpenter said Knapp assured him the transaction had been completed. T. L. Mathews, president of the Nebraska Building and Loan association, who is receiver of the closed trust company, says no bonds were found filed to Carpenter's credit in the effects left by Knapp. A complaint filed in district court accused Knapp of embezzlement and theft of the funds. Attorney Cook announced that no official steps would be taken at once toward returning Knapp from Chicago on the promise of his attorney that Knapp will come back to face the charges. Knapp came to Fremont in 1910 as cashier of the old First National bank, later becoming president of the Fidelity Trust company. Previous to coming here he was connected with a bank at Wahoo.
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Fremont Banker Returns to Face Criminal Charge Frank B. Knapp Pleads Not Guilty to Embezzlement and Lareeny-Left Town After Bank Crash. Fremont, Neb., Dec. 9.-(Special Telegram.)-Frank B. Knapp, president of the bankrupt Fidelity Trust company, returned to Fremont to face charges of embezzlement and larceny of $3,585 from Stephen Carpenter, farmer. He pleaded not guil\ty to both counts and was released on $6,000 bond, furnished by John Monnich, Fremont, and E. R. Gurney, Omaha. Knapp's return to Fremont was not marked with a reception like the one accorded President Claridge of the Castetter bank at Blair some time ago. The former head of the trust company left Fremont a few weeks ago after the Fidelity Trust had been placed in the hands of a receiver. He was accompanied by Mrs. Knapp. Two cases were filed in district court against Knapp, but no reply was made. When Carpenter filed charges with County Attorney Cook, alleging the embezzlement and theft of $3,585. which the client states was to be used for the purchase of Libcity bonds, it was learned that Knapp was in Chicago and would return to face the charges. Days passed and no word was received until the first part of this week, when Attorney Cook was notified that Knapp was en route to Fremont. Upon his arrival he went directly to the county attorney's office, accompanied by his bondsmen, Justice of the Peace H. M. Kidder was called into the county attorney's office, where Knapp waived preliminary hearing, pleading not guilty. Gurney, one of the bondsmen, was formerly connected with the Fideiity Trust company and prominent among local bankers.
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Fremont Banker Guilty of Fraud District Court Jury Finds Frank B. Knapp Embezzled $3,585 From Aged Man. Fremont, Neb., Jan. 19.-(Special Telegram.)-After two hours of deliberation, a Dodge county jury found Frank B. Knapp, former head of the defunct Fidelity Trust company, guilty of embezzling the sum of $3,585 from Stephen Carpenter, 81, a client. The defense immediately signified that a motion for a new trial would be made and Judge Button will hear the plea Monday. The trial came to an exciting close after holding the attention of the court and huge crowds of visitors for three days. Knapp is well known in this vicinity, having resided here practically all his life. The information charged that Knapp converted to his own use the money left with him by Carpenter for the purchase of Liberty bonds. Letters were submitted by Carpenter from Knapp stating that he had made the purchase and was holding. the bonds for him. When the corporation went into the hands of the receiver only credit for that amount was found on the company's books.
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Fremont Banker Denied New Trial and Is Sentenced Frank B. Knapp, Former Head of Fidelity Trust, Given Three to FiveYear Sentence. Fremont, Neb., Jan. 30.-(Special Telegram.)-Frank B. Knapo, former president of the Fidelit Trust company, convicted of embezzlement last week, was today sentenced to the state penitentiary for from three to five years. Attorneys for the defense immediately gave notice of appeal, when their motion for new trial was overruled. Bonds placed at $6,000, pendA ing the fight in supreme court, were furnished by friends. Attorney Murdock, Omaha, asked for a new trial on the ground that there was no deliberate intent to embezzle when the alleged crime was committed. The court, however, stated that the jury was justified in bringing a verdict of guilty with the evidence that was submitted. The fact that funds left in Knapp's care amounting to $3,585, by Stephen Carpenter, 81, were converted to the use of the company, constituted embezzlement, the court declared. Knapp was supposed to purchase liberty bonds for Carpenter, but when the First National bank closed its doors and the Fidelity Trust company followed. no bonds for Carpenter were found by the receiver.
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Cent in Inkstand Only Asset of Trust Company That Failed Fremont, Neb., March 1.-A copper cent found in the cup of an inkstand was the total cash asset of the defunct Fidelity Trust company of this city, on Nov. 3, 1921, when he took charge, T .L. Mathews, receiver. announced. after an investigation of the corporation's books.
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CENT ONLY CASH ASSET. FREMONT. Neb., April 15.-A cop. per cent found in the cup of an inkstand was the total cash asset of the defunct Fidelity Trust Co., T. L. Mathews, receiver, announced.