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LAUREL NATIONAL BANK CLOSED TUESDAY STRONG BANK IS VICTIM OF CIRCUMSTANCES IN LAUREL Doors Closed Created Sensation in this Community Yes- terday
13174. Laurel National Bank (Laurel, NE)
Bank Information
- Episode Type
- Run → Suspension → Closure
- Bank Type
- national
- Bank ID
- 9979
- Charter Number
- 9979
- Start Date
- May 10, 1927
- Location
- Laurel, Nebraska (42.429, -97.090)
Metadata
- Model
- gpt-5-mini
- Short Digest
f1264b03
Response Measures
Full suspension, Books examined
Other: Receiver appointed and bank placed under federal supervision; later building sold and new national bank opened in town under different ownership.
Receivership Details
- Depositor recovery rate
- 51.6%
- Date receivership started
- 1927-05-14
- Date receivership terminated
- 1932-02-11
- OCC cause of failure
- Economic conditions
- Share of assets assessed as good
- 28.5%
- Share of assets assessed as doubtful
- 49.3%
- Share of assets assessed as worthless
- 22.2%
Description
Laurel National Bank experienced heavy withdrawals and voluntarily closed May 10, 1927. A receiver (George G. Cronkleton) was appointed and the bank remained in receivership; its building was later sold and a new national bank opened in 1928 (a different institution). Cause is coded as rumor_or_misinformation because local coverage warns against wild rumors and officials closed to stop a run; no specific bank-solvency scandal is described in the articles.
Events (5)
1.
April 5, 1911
Chartered
- Source
- historical_nic
2.
May 10, 1927
Run
- Cause
- Rumor Or Misinformation
- Cause Details
- Continuous drainage of deposits/withdrawals (community panic and rumors warned against in local paper); officials stated they closed to stop a run.
- Measures
- Officers and directors requested the department to take charge and closed doors to the public; voluntarily closed to stop the run.
- Newspaper Excerpt
- the continuous drainnage of deposits in this bank makes it impossible to continue its operation
- Source
- newspapers
3.
May 10, 1927
Suspension
- Cause
- Rumor Or Misinformation
- Cause Details
- Directors closed the bank and asked the department to take charge due to continuous deposit withdrawals; closure described as voluntary to halt the run.
- Newspaper Excerpt
- Laurel National bank of this city closed their doors to the general public Tuesday afternoon when they closed business at four o'clock.
- Source
- newspapers
4.
May 11, 1927
Receivership
- Newspaper Excerpt
- They have requested the department to take charge of the same... George G. Cronkleton, receiver of the Laurel National bank which suspended last week. Mr. Cronkleton is now receiver of seven banks.
- Source
- newspapers
5.
May 14, 1927
Receivership
- Source
- historical_nic
Newspaper Articles (17)
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HAVE CHANCE TO RE-ORGANIZE THE INSTITUTION SOON Directors are Bending Every Effort to Put the Bank on a Safe Footing-Now is the Time to Keep Your Head and be Calm The Laurel National bank of this city closed their doors to the general public Tuesday afternoon when they closed business at four o'clock. The result of a meeting of the board of directors was not made public until a late hour Tuesday evening and there were many of our people who did not learn of it until a late hour. The result of the conference of the directors came as a surprise to the many people of this locality. Everyone had figured that the bank was a safe proposition and there was much excitement this morning when it was learned that the bank was definitely closed. The situation at this time is not known. There are many people in the community who would be glad to know just how they stand with the world. Business men who have their funds in the closed bank are at a loss to know just how they stand with the world in general. We are/among them and do not know just what our future holds for us as every dollar we own in the world is tied up by the closing of the bank. NOTICE TO DEPOSITORS The officers and directors of the Laurel National bank regret to state that the continuous drainnage of deposits in this bank makes it impossible to continue its operation and have requested the department to take charge of the same. The doors will be closed until further notice. The question of a re-organization of the bank will be submitted and discussed with the depositors at the earliest practicable moment. Laurel National Bank. We have been in constant communication with the officers and directors of the bank ever since we returned to the city last night and were acquainted with the facts. We want to state right now that we feel certain that the closing of the bank is no fault or reflects on the ability of any officer or director of the bank. In fact, we are certain that the officers and directors have waged a sevenyear fight to avoid the problem that is facing them today. As you will notice the statement the officers of the bank made, the situation was forced onto them by withdrawal of the deposits of the bank. We feel certain that when the examiners are through that they will be unable to fasten any blame on any officer or director of the bank. And right here the editor wants to express his belief the integrity of the men at the head of the bank. And we also want to caution our readers about the spreading of the wild rumors that naturally accompany a situation of this kind. Please do not repeat these rumors. They will have but one effect. That is to start a run on the solvent bank we have left and ruin the entire community. The State Bank of Laurel is in good condition and will be called upon to pull the community through the present situation. Let us all have confidence in them and assist them in every way in meeting the situation they are compelled to face. Plans for the re-organization of the closed bank are already under way but at this time we are unable to give our readers any definite word. The fact is that the officers and directors are not able to give any exact information. Members of the board of directors are leaving at once for Kansas City to confere with the head man for this district regarding the situation. Until they return nothing definite can be given out. Let us assure you that every possible means is being used to clarify the situation and just as soon as something definite is known you will be advised by this paper. Let us tell you that the officers and directors of the bank stand to lose the most money in the closing of the bank. Under the federal supervision of the banks every stockholder of the bank can be assessed the full amount of the value of the stock he holds. For instance, if a man holds one thousand dollars stock in the bank it can be assessed one thousand dollars on his stock. The capital stock of the bank is $65,000 which means that another $65,000 can be assessed against that stock. We believe that the depositors of the bank stand to lose little or nothing in the present crisis. True it is that it will cause a great deal of inconvenience in the carrying on of business but eventually it will work out so that no one loses but a very small portion of their deposits. We believe in the integrity of the of ficers and directors and we absolutely know that every effort is being made to re-organize the institution and we feel sure that this will be accomplished. We want to again stress the point of keeping cool under the present situation. That is the salvation of the community. Keep your head and cooperate with the officers and directors in every way. Without this cooperation everything is lost. The two bodies must work together and we firmly believe that with the proper co-operation the situation can be solved to the satisfaction of everyone. Without it the community is James Benjamine was on the sick Hat the forepart of the week.
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EDITOR OUT OF HIS RIGHT MIND AT PRESENT TIME You know, dear readers, we never had but wife and she is in an Omaha hospital sick unto death. We have been with her for almost a week her true condition. We are glad to say that she is making a great fight and with no" unforseen trouble will eventually recover. Imagine our surprise last evening when we arrived home' to give you this makeshift newspaper to learn that we were a pauper. Every dollar that we in the Laurel National bank and furthermore we had paid a lot of the hospital and doctor's expenses in Omaha by check on the closed bank which we will now have to pay again. It's tough situation we are facing and we are not able at this time to give you the final results. We are going to carry on is in our power to but that remains with our creditors. We firmly believe we can get by and are bending every effort in that direction. If you owe us anything you can help greatly by coming in and settling your account.
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Mrs. Andrew Stanm spent Saturday in Sioux City. J. S. King of Hartington, is-visiting in the Joe Smolsky home. c. H. Randall of Randolph, was in Wayne yesterday on his way to Omaha. Swim in a real swimming suit, the Jantson suit. For sale by L. Blair. J.E. Brittain and Herbert Welch were in Lincoln yesterday on business. Mrs. S.J. Wolcott went to Winside Wednesday to visit her sister, Mrs. Joe Alger. John Nicholson and family of Wisner, visited Sunday with Mrs. Lucy West here. Mrs. Theresa Meister returned Sunday from visit with her daughter in Omaha. Supt. G. A. Jones of Rosalie, was here Monday with students from the high school there. Mr. and Mrs. Alvin Young and children of Winside, spent Sunday in the August Loberg home. Mrs. August Madsen of Sellersburg, Ind., arrived yesterday to visit in the Hans Madsen home. Mr. and Mrs. Charles Ash entertained at dinner Monday Mr. and Mrs. Oliver Gamble of San Pedro, Calif. Mr. and Mrs. R. W. Ley arrived home Monday from Excelsior Springs, Mo., where they spent a few days. Chas. Senter who is employed in the Martin store in Sioux City, came to Wayne Sunday to visit home folks. Herman Fredricks and family of Norfolk, and Walter Krei of Laurel, visited at the John Krei home here Sunday. Avoid sickness by keeping your foodstuffs cool and sanitary with our pure, artificial ice. Wayne Artificial Ice Co. Say folks, it will pay you to come in and look over our guaranteed used cars. Parsley-Briggs Motor Co., Wayne. m19t1. Miss Alice Shearer of Coleridge, and Miss Eriz Henrickson of Wakefield, spent Sunday here in the D. H. Larson home. Mr. and Mrs. C. A. Shultz returned Thursday from Lincoln where they attended a state convention of cream buyers. Francis C. Jones of Sioux City, was in Wayne on business this week, guest while here of his parents, Mr. and Mrs. F. H. Jones. Mrs. G. J. Hess returned Friday from Kearney where she had visited a few weeks with her daughter, Mrs. Hugh Drake and husband. Fred Nelson suffered a broken collar bone at the Al Rennick farm, seven miles south of town, Saturday when a horse fell with him. Miss Emma Sievers who had spent four weeks at the Peter Sievers home near Altona, returned Saturday to the Dr. G. J. Hess home. Mrs. Clara Carboling left yesterday for her home in Springfield, III., after being here to attend the funeral of John Grimsley. She is a cousin of Mrs. Grimsley. R. C. Downs, an expert billiard player from Detroit, Mich., gave an exhibition of pocket billiards at the Rockwell pool hall Tuesday night. About 150 attended. Congressman Edgar Howard of Columbus, was in Wayne Saturday on his way home from Waterbury where he delivered the high school commencement address. B. B. Pollard and son, Bernard, drove to Dell Rapids, S. D., yesterday to bring here Mrs. Pollard's mother who will attend the high school commencement exercises. J. J. Gildersleeve plans to leave the last of this month for an indefinite stay with his son, J. W. Gildersleeve in Aitken county, Minn. He will stop in Stewartville to visit enroute there. Geo. G. Cronkleton, receiver of the late Citizens National bank here, has been appointed receiver of the Laurel National bank which suspended last week. Mr. Cronkleton is now receiver of seven banks. Mrs. Anna Johnson and children plan to leave in a few days for Chicago to make their home. Mrs. Johnson has residence property there. William Johnson will remain here and Miss Miriam may also stay. Lloyd Rupp of Los Angeles, Calif., formerly of Wayne, is one of four men whom Jack Dempsey has taken to his mountain home for training. Dempsey will practice with the men to be prepared again for a boxing bout. Our ice truck passes your door every day. Put your card in the window early in the morning, or better still the evening before so you will not be missed. If you are not already on our list phone us, residence 374 and office 29. Wayne Artificial Ice Co. Mrs. I. H. Britell went to St. Edward Monday to attend the Methodist Home Missionary society convention in session Tuesday and Wednesday. Rev. and Mrs. L. F. Townsend, Mr. and Mrs. G. W. Crossland and Mrs. C. L. Wright drove there Tuesday morning to the meetings.
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BANK TO START AS POSSIBLE Delay Expected Here Today to Complete Arrangements go Ahead It is confidently expected by local men associated with J. Delay of Beresford, D., that the new nationbank will be started in Laurel within the next few days. Mr. Delay according to telephone tion with him, is on way to this city and will be here sometime this evening. The closing of the last bank in town is hastening the plans of opening the new institution and it almost certain that within the next few days Laurel will again have bank. It is quite probable that a tempobuilding will be secured by the new bank and that operations will start in temporary quarters. The new bank is negotiating with Washington officials regarding the building formerly occupied by the Laurel National bank but they will undoubtedly not wait now to complete this bank. Local men who are interested in the proposed certain that immediate action will be taken when Mr. Delay here. Laurel must have bank and have it soon and there no question but what will have one in the near ture. There are many rumors regarding the banking situation and we told there on foot organize local institution but all matter of hear and we are say putting out for facts. Howev. feel certain that the situation will be relieved that will done humanly possible,
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GOV. BULOW INTERESTED New Institution to Soon Open as Possible BANK BUILDING BOUGHT DeLay Secured Laurel National Bank Building Yesterday -Rushing Plans To have the governor of South Dakota a stock holder in the new national bank which is to be opened just as sooon as possible is the unique position of Laurel at this time. Gov. Bulowe, one of the associates of DeLay in the banking business at Beresford, has taken stock the local institution came out in conversation with Mr. DeLay last evening and he is but an example of the men associated with Mr. DeLay bringing to Laurel the Security National bank which will open doors to the public just as soon as the final be made. arrangements can Mr. DeLay spent Tuesday in this city completing the purchase of the building which formerly housed the Laurel National bank and the deal was concluded to the satisfaction of Receiver George Cronkleton, who has recommended to the comptroller of currency that the offer be accepted. This assures that the deal will go through and Mr. DeLay was busy with his final for plans opening the institution at the est possible moment. February 1st the date now in mind for the opening although will be done more quickly the final be arrangements can made. There lot of work to be done such as securing connections with the federal reserve and other banks, the election of directors from the stock holders, Not moment being wasted in getting these plans under way and will not be long until Laurel has new bank, starting with clean slate and under the direction of men who have already made splendid success of the business. Mr. Lay has had twenty-six years of banking experience and associated with some of the biggest men in his state. He assures us that just as soon as the people of the community show they are entitled to larger bank than he is starting out with just that soon the capital stock will be increased to take care of the community. eH has the money behind him to make this statement and from his past records he will back up ment. He also assures us that the Lank will not loan any money to officers of the institution, will not permiti overdrafts and that they will loan wherever the loan is worthy. In other words he will run clean bank at all times in the interests of this community. A. A. Soderstrom will be the cashfer of the new bank. He will move to this city as soon as possible, He was here Sunday looking over the ground and those who met him are much pleased with his personality and pleasant manners. He has been associated with Mr. DeLay for many years and is sent here by Mr. DeLay knowing that he is the man for the place. We are mighty pleased to bring this definite word of the new bank to our readers this week. The new institution will be entitled to the co-operation of the people of this community and they will get it.
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DEPOSITOR Laurel commenced this week attorneys of near Laurel of Albert against National bank, the Laurel thousand dollars several that which he deposited day closed. tution the that the The petition alleges plaintiff deposited May 10th, o'clock about Laurel National that the the day doors. The plaintbank closed the deposit be that prays claim preferred Fri. Action Davis and and Attorneys day and Simon Wayne the representing
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LAUREL YOUNG PEOPLE MARRIED MONDAY Miss Anna Hansen Became Bride George Walters at Missourl Valley, Iowa Hansen and George Walters stole march on their friends the first of the week and slipped quietly away to Missouri Valley, Iowa, where they were united in marriage by Rev. Kearns, former pastor at this place. The was perfomed in the Kearns home. Nothing definite is known of the plans of the young people. They have not arrived home at the time this is written and the details of the marriage are lacking. The first word received of the event telegam to the bride's parents, Mr. and Mrs. Chris Hansen. Mr. Walters has been employed this city the past year at the TollesMoore clothing store. He came here from Fairfax, D., where he was employed by Mr. Moore. He has made host of friends here and is splendid young man of unquestioned character. The bride has grown to womanhood in this community and well and favorably known to all. She employed in the office of Mr. Cronkleton, receiver of the Laurel National bank. She is young lady of personality and charm and numbers her friends by her acquaintances. We join the many friends in extending congratulations and best wishes for happy married life.
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Laurel, Nebr., March 26, 1928 Editor Cedar County News: The Peoples' party now in power, A. D. Felber, M. T. Sullivan and Charles Petty are its candidates for re-election. The tax payers' party opposing has for candidates L. Moore, W. A. Price and J. L. Smith. When the Laurel National bank closed its doors, the outstanding interest bearing bonds guaranteed by the village amounted to about $109,000, notwithstanding this fact the village board had over $15,000 in this bank. It is alleged by the Taxpayers' party that this money was put in
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The latter and H. D. Delly were for years bankers at Wisner and also loaned money for others, by means of which both amassed moderate fortunes. After his death Deily's heirs sued for an accounting, after having been paid $20,000 and the question was whether not the old partnership continued after his death or whether new one had been formed. The court said it was significant that the Leisys, for themselves, handled much greater volume of loans than the partnership, and holds that no new partnership was formed. The court also upheld the action of the Cedar county district court in appointing receiver to take charge of the land upon which W. R. French had executed a $36,000 mortgage to the estate of C. J. Nelson. which mortgage had later been assumed by the Laurel National bank. The receiver of the latter was the objector. The court found that the property was worth but lit tle more than the mortgage and that it was not being kept up; hence the receivership was necessary.
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BANK MUST MUST GIVE CASH PATRON Bank officials, who accepted deposit two hours before closing their institution, were severely rebuked by Federal Judge Woodrough in an opinion Monday in which the judge decided the depositor was preferred creditor and entitled to immediate full return of his deposit. Judge Woodrough ruled that Albert Ebmeier Laurel, Neb., shall receive $5747 from the Laurel National bank. Ebmeier deposited $7,642 in th bank and withdrew $1,895 two hours before It closed, testimony showed. Officials of the bank testified they voluntarily closed the Institution to stop "run." They testified the bank was solvent, but collections were bad and ready cash short. Officials of the bank testified the institution's resources totaled $742,000 and Receiver G. C. Cronkleton said only $150,000 could be realized for payment to creditors.
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ORDERS BANK RECEIVER TO PAY DEPOSIT Decision Handed Down by Judge Woodrough Monday AMOUNT INVOLVED $5,714.10 Case of Albert Ebmeier is Finally Will be Appealed The decision of Judge J. W. Woodrough in the case of Albert Ebmeier vs. the Receiver of the Laurel National Bank was made public Monday and was in favor of Mr. This case has been closely watched and has created much interest in this community since it was instituted. It was tried two weeks ago in the federal court at Norfolk and the judge after taking the case under advisement submitted the above decision Monday morning. The amount involved was a sum of $5,714.10. The original deposit was $7,642.52 but part of that had been checked out for obligations leaving the balance as above stated. In conversation with Receiver George G. Cronkleton Tuesday morning he stated to the writer that the case would be appealed to the circuit court of appeals at St. Louis, as he was not satisfied with the decision of Judge Woodrough. Just what the outcome of this appeal will be will be a matter of much speculation and interest in the community. The following is clipped from the Omaha WorldHerald of Tuesday morning regarding the decision: decision Monday ordering the receiver for the defunct Laurel (Neb.) National bank to return $5,717 to Albert Ebmeier, cattleman, Federal Judge Woodrough found that officers of the bank had accepted Ebmeier's deposit of that amount at m. May 10, 1927, knowing that the bank was insolvent and would be closed for liquidation two hours later. The case, of a civil nature, was tried at the Norfolk term of federal court last week. Ebmeier sued to prevent his deposit, the proceeds of sale of cattle at South Omaha the day before, from being distributed generally among the bank's creditors. The bank's officers testified the bank was solvent when they voted to close it, explaining that their action was taken to prevent possible run on the institution and with insufficient cash on hand to pay off depositors. They said that in time, they believed, they could have realized on their loans and discounts. The receiver, George G. Cronkleton, testified he had thus far been able to collect only 150 thousand dollars of a total of 426 thousand dollars in outstanding loans and discounts.
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STOCKHOLDERS SUITS ARE PENDING TRIAL SEVEN CEDAR COUNTY MEN RESISTING LIABILITY SUITS BROT BY BANK RECEIVER Lawsuits brot by George Cronkleton receiver the Laurel Na. tional bank to collect assessments stockholders of the First Na. tional bank Laurel are now pending federal district court at Omaha. Those who are resisting the sessment they liable as the First National building sold the National bank without their knowledge, and that the returns from have balancany deficit the First Nationbank, actions of the bank were as they should be. Those whom suits were brot against Phil Most, $1,000; Charles Ebmeier, $1,000; Middleton, $500; D. Coburn, $1,000; George Ray, $500; Sullivan, $1,000; Sullivan, $1,000. Warren Coddington, who has been for the past three months, went to Sioux City noon. Misses Lucille and Leone Dickes Fordyce visited in Hartington, Friday afternoon. Mr. and Mrs. Joe Marx left Saturday for Sioux City to spend several days.
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FARMER WOMAN IS BURNED WHILE MAKING LYE SOAP Foster. Neb., Jan. 23.-Special dents. Dr. George Donohue was reMrs. Oswald Brand, 25. wife of appointed superintendent of the farmer living southwest of Foster Cherokee state hospital for Insane was severely burned from her to four year term beginning knees down while making soap. March Dr. M. Nelson Voldeng A stone jar was sitting the back was reappointed superintendent of the stove lye soap in it. Mrs. the hospital for epileptics and the Brand moved it trifle and the bot school for feeble minded at Woodtom burst out, throwing the hot lye ward. soap on her. A doctor was called from Boyd County Claims $1,000. claim of $1,000 presented by Boyd county has been turned over to the state for legislative action by Harry W Scott, state tax and acting secretary of the department. It dates back to 1924, when the state took over maintenance of highways and equipment of counties. The justness of the claim is not questioned. but there appears to be no available funds after a long lapse of time. Bank Receiver Is Named. George G. Cronkleton, Laurel. has been appointed for the First National bank, Coleridge. which closed recently. Mr. Cronkleton, also receiver of the Laurel National bank, has announced that checks soon will be released, paying an ad ditional 15 per cent dividend to de positors. About $75,000 will be paid. Oakdale School Head Quits. Oakdale, Neb., Jan. Special: Supt. Jones, who has been at the head of the school in Oakdale for two years, resigned his position. Mr Janes a position traveling salesman for the William Welsh Laboratory company, Chicago. He plans to move to Lincoln. Howard A. Farrens, Able, Neb., was elected to the office. Band Formed in Wisner. Wisner, Neb. Jan. -Special: An independent band was organized here, the being musicians from Beemer, Wisner and Pilger, who formerly composed the Wisner community band. Charles Albright, Beemer, will direct the new band, with Edwin Thompson, Wisner, as assistant director, and Neil Saville, Wisner, secretary. Will Close Harness Shop. Lyons, Neb., Jan. -Special William Eggert, proprietor of a harness shop, will close his stock of harmachinery and fixtures at an quetion sale on January 26. He will to farming.
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FILES EQUITY SEEKING ACCOUNTING FROM BANK OFFICERS Receiver Charges Bad Banking in Suit Against Officers of Laurel Banks. bankand charges that they did not ing conduct their banks in accordance national banking act, are tained in suit in equity filed by ceiver George Cronkleton against ficers and directors of the First tional bank of Laurel, Nebr., and the Laurel National bank in federal court here today. Cronkleton asks for an accounting from officers of the First National and from Laurel National, claiming that most these assets were lost through improper handling the officials. Capital stock of both institutions admittedly impaired before they closed their doors, Cronkleton charand the reserve had dwindled ges, nothing. The Laurel National closMay 1927 and the First tional February 1928. Those named in the suit follow: the Laurel Wilson, Johnson, Thomas Berge, Voter. Wilson, Bessire, Charles Ebmeier and Felber, who executor for John Felber. deceased. First D. Coburn, Phil Most, Wickett, Charles Jordan and George Wright. BILL REPORTED Feb. The army housing bill passed by the house last May was favorably ported Friday by the senate military
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WHEAT GROWER TOLD OF POOL Lincoln, Neb., (Special)W. Ransom, secretary of the Manitoba wheat pool, began series addresses that will take him into parts of the state, the chamtoday, when he cussed the by which the wheat of Canada have been able increase returns. Mr. Ransom said that the farmers there that the surest way effect betterment of conditions was for them to help themselves, and that legislation is helpful, lead to positive adjustments. He said that the wheat by local units, and federal There are three units, all under Starting with five of 65,000, the pool now embraces 140,000 and constantly adding its rolls. The volume marketed was close to 300,000,000 bushels, which represents the larger part production. the past three years control the and orderly disposition had the price and The selling costs proved to be negligible, about quarter of cent per bushel, and the total overhead has never run beyond and three fourths cents, including storand interest. The saving operation controlled by the pool more than offsets the cost of operation of local elevators. RECEIVERS FOR CLOSED NEBRASKA BANKS CHANGED Coleridge, (Special) -George of the National, some in northeast braska, Been named the First National bank of Coleridge. He will be assisted here by Roy Flaherty 15 cent. dividend amounting $75,000 will be paid to depositors of the Laurel National bank according to This the third he making bank. Herbert who been at the state bank in gone Concord and George Bouchof South Sioux receiver at the State bank at Laurel, gone to Dixon, leaving Miss Frahm temporarily in charge of the Laurel State bank.
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RECEIVERS FOR CLOSED NEBRASKA BANKS Neb., George Cronkleston. receiver of the Laurel National. NationNational banks, in Nebraska. been of the First bank of Coleridge He will be assisted here by Roy Flaherty 15 cent. dividend amount $75,000 will paid to depositors the Laurel this week. according to This the third payment he making Laurel Herbert Knox, has been the closed state bank in has gone Concord and George BouchSouth ceiver the State bank at Laurel has gone Dixon. Miss Fielda Frahm temporarily in charge of the Laurel State bank WALNUT LOGS SHIPPED FROM KNOX COUNTY carloads of choice walbeen from the Weigand timber Herrick town ship by squad men in the em. ploy Penrod, Jordan Clark Des be used the furniture The quality of walnut trees this the former home attracted the war department during the World and large used in the of gunstocks. Only were shipped to Des The tops less than 10 inch farmer for fence and fuel. HEART BALM CASE IS SETTLED OUT OF COURT -Sophie Reeb who awarded $6.600 heart balm verdict district court reagainst Sim Stark 63 years old; widower, wealthy landowner of Bradshaw, has settled the case out court appeal attorneys announced The sittlement understood to have for more than Stark's children seriously objected to the marriage. Miss Recb near Hordville.