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BANK CLOSES. Upon officers, the Farmers State bank, Sargent, suspended Monday and turned the bank over the department trade and merce. State Bank Garrison, will in charge for department. capital stock and posits about $240,000. The officers H. Kiker, president, Amos, president and Larson, cashier. Closing of the Farmers' State bank Sargent without any banking facilities. Those closely touch with the believe that will be reorganized and depositors will be paid out in
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BANK CLOSES. Upon action of its directors and officers, the Farmers State bank, Sargent, suspended business Monday turned the bank over department trade and commerce. State Bank Examiner Merl will in charge for the department. The capital stock surplus and about $240,000. The officers H. president, vice president and cashier. Closing the Farmers' State bank Sargent without any banking facilities. Those closely touch with the however, believe reorganized and depositors will paid out in full.
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FARMERS STATE BANK SUSPENDS BUSINESS FOR Last Monday morning the FarState Bank did not re-open doors for business. On the door was notice that read bank has suspended business and now in the hands the department of trade and commerce, state of Nebraska, for the purpose of Just afternoon Monday Merl H. Garrison and E. Horner, state bank examiners, arrived here and gan the work of invoicing the banks property of all kinds the process re-organization. Wednesday forenoon George Whalen, the state department trade and commerce reorganization man arrived in the city for the purpose of organizing the bank along the same lines that has been done in the case of many other Nebraska banks that have been voluntarily placed in the hands of this department. This all means that the Farmers State bank of Sargent will not into the hands of receiver. means that the people who owe the bank money at this time will not forced to sell off everything in order to pay their notes which would be great calamity for very many when values so low. The reason for taking this on the part of the bank's board directors because they foresaw that there was possibility of ber of large certificates of deposit being presented for payment they come due. Knowing that present prices of hogs and cattle, and the short of last summer very crop would not bring any ways near ough money for people to pay their loans, in large enough amounts pay these certificates of deposit, the officers knew that they should keep the doors of the bank open til that time would be only came, matter of time that would be forced into the hands of ceiver, the forced to their people pay loans and depositors would many suffer considerable loss because that method of liquidating. Furthermore there would be the of Sargent being without possibility bank for along period of time, possibly year or even two three years. Using the system or plan of that has been found organization successful many places, the city should not be without bank for period than three months. longer thought will take However, much less time than that. One of the officials thinks that should not longer than month and take one that such reorganization has says been effected within ten days. Us. ing the same plan, the Security State Bank of Broken Bow was reorganizwithin about five weeks. the of the same method By use used in the reorganization was of the Security State Bank case mentioned above, the depositors will not lose The details for the reorganization been worked out but have not fully these are the main features: The present capital stock and to be used take up part serve of the bank's paper (loans) that are "frozen assets," that now known as that well secured paper made but because of the time in values since the great shrinkage considered first class then, not now. The balance these frozen care of by that will "depositors' which formed by using certain that purpose. Next the stock holders will scribe enough money for new capital stock. Another thing, all depositors will by their own action sign an limiting the amount they greement withdraw certain per may month. most likely one per cent. These main features having begn reorganized bank worked out, will be given charter permitting business and Sargent will to transact bank. The sooner each again have signs for these depositor bank will be tions. the sooner the opened. As stated before, this method of reorganization, the depositors and those lose money the bank unduly their loans pressed pay only themselves not the depositors. We mentioned of the will be placed tion deposits for the "depositors take of the helping depositors however, for lose this money, credit that back bank bottom column.)
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Reorganized Farmers State Bank at Sargent Reopens Neb., Sept. Farmers Lincoln, State Bank of Sargent The opened for business Saturday bank had been closed since February The bank and solvent former stock holders and depositors. reorganized the bank has $25,000 paid capital, $5,000 surplus and deposits $92,432. permits plan immedia release of 35 per cent of deposits to depositors. The balance released on monthly instalments. Ultimate payment depositors is specified in the contract.
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OF BANK OPENING (This article was written for the An index of the public confidence Leader James Murray who manifest be noted from the may kindly voluntarily offered to furnish fact that in the first two hours of this he its re-opening, deposits to the was writing the celebration for other papers. $4,200. were placed in the bank which Mr. Murray, by the the days were raised by willing way, nominee for state depositors nearly tor from the twenty third senatorial evening district which the counties week one of the directors comprises of Blaine, Custer, Gafield, and told the Leader editor that at that Loup Valley. Now, that time the deposits since the reopening Maine has spoken loudly for the Democratic Nomi- exceeded the by nearly nees in that state, looks if the as only thing that remains to be done And where there more in the matter of his election to mising field bank to tabulate his than right with Sargent majority.) Of historic moment the event keting center for territory Thursday, here in reaches eighty miles north September the date miles up the Middle Loup chosen for celebrating sett, the re-opening of the Farmers State west to another railroad point, Bank which fifty to miles suspended on Monday Dunning, morning, and northwest and even beyond to reach February re-opened about three o'clock, after- the extent of Sargent's trade Saturday noon, September in that direction and bringing tory seven months revival south, twenty six miles to stagnation, of business morale, and injection the nearest railroad point to an hope and We believe and the intervening domain courage. south, was Aristotle who said that between Sargent and Ansley, lating monetary medium the life- with soil of the Loess soil blood of civilization. degree agriculturally with any compare witnessed the of the ancient earth. Some the other saying spot on philosopher exemplified in the seven reaches mentioned above are largely months the but the world's following the grazing lands, are banks here; the circulating finest adjunct farming region dium ceased to flow and though stocked with herds of livestock, ilization did not disappear here usually and fattened in the Sargent, business morale drug- fall and winter with the corn and dormant life succeeded buoyant produced on the fertile farms life in commercial circles, and doubt the town. It augurs favorably and uncertainty prevailed. On the continuance of strong bank announcement on September that such region, center of the Farmers State Bank had met all orable combination. the rigid requirements of the State arrived which was September banking board who assumed on for the celebracharge the day planned the suspended bank, and tion and kind Providence provided open for business and announcing wil- finest early autumn days one the lingness to thirty five percent that dawned. Great crowds from pay ever all deposits not in the depositors all the country side and from other pool, acted as an hypodermic towns began to into the city on pour public morale and instant upturn The portable band stand had business could be noted. moved position in front the marketing center such this bank building. Seated therein and band, which has made such inroads begin day of furnishing late into the business of almost continuous band music to be shown that the occasion few selec. tock and other products of the farm tions were played and to the band and ranch were shipped from this stand platform ascended Roy Sweet, tation the value of two million the and Edward new president, year, can be the cashier. Both men the inconvenience of handling this scheduled for an address. Some wonstupendous volume of business with- dered how Sweet, successful farmer bank. rancher, had not given especial Just week apart the two banks effort toward acquiring proficiency closed and we wish were writing public would acquit speaking the re-opening of the Sargent State The writer had no such doubts. Bank well as the Farmers State. former when Sweet and the years, Both institutions were revered old writer both lived in the hill country landmarks here, and, closely identi- north east of Sargent several miles, fied with the growth and advance- of the socisome country literary ment of the town and surrounding debates held out there for ety, country, had weathered all kinds in the winter season, noted we adverse conditions and stood like two that he formidable antagonist sentinel rocks, and would have, in in joint debate, and gained experiprobability, withstood the thereby that would stand him present depression, appalling as good stead, and such was the they not been called upon to stand When Mayor Cosner called him the drain of their finances it took he responded, and began by relating buy abroad endless thousands of bush humorous story, serviceable for the of corn to supply the large feed- occasion, which furnished good. operations carried here last overture, and then proceeded in about the normal volume in how the orders of the state bankyear the face of corn ing board met, and the long very poor crop, the fattened stock when arduous and almost vexatious tasks failing in some instances to that were surmounted. Ed pay feed the straw, called responded and announced mound straw that could speach the camel's back and both banks wanted to do but was prepared written The fell pall the town the occasion, had been news as on paper and the two institu- carefully prepared and community tions were lineal descendants of two ment of the policies and practices tiny banks that were set up here the new bank, and are differ the of of the hamlet from the old practices. early years ed Sargent that existed way the Next, Mayor Cosner introduced Middle Loup valley above Clarence Miller of Ansley who road and surrounded by an untamed candidate on the nonpolitical ticket and rating but little for the office of county judge of Cus more than an of civilization. ter county. Mr. Miller interoutpost gave State Bank justly laid esting talk on the advantage of Sargent claim to the slogan, "oldest bank in bank in the day life of comevery Custer county," and the grand munity. of the Custer Bank Next, the ball at the basedaughter County game established in 1883, which ball park between team of business iod of before the iron horse men of the town thirty five years years had entered the confines of Custer of and above, and farmers of the age county, and before of the towns south of the river, also aged any country along the present railways the thirty five years above, the game county were established. Joe Thom- being won by the boys of the counof Savage the score being eight to twenty co-partner founding the town, was the first three in their favor. This was game sident and also must of the banking not concluded until awhile after the force. town siren announced the noon hour The other bank the Farmers State After dinner there penny Bank, again functioning, can trace shower for the kiddies, and then more or less connected descent ball between Sargent juvenile game development from the old players and similar team from and Merchants Bank, contem- Cummings Park. Sargent of the Custer County Bank, youngsters won. third for porary game was presided over by Charles the day was played the Cummings Nicolai who established it about the Park team against the Sargent Hoot year 1887. Owls. The Cummings Park team We have the assurance that with and that concluded the ball the exacting conditions laid down for the day. During the games the Nebraska Department of ternoon crate full of frys spring Trade and Commerce, thrown one time spoken the state banking that the re-opened Farmers State Bank one of the states strongest.
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Eye Strain Is Called Cause 'Blue Monday' Blue Mondays' thought to have departed with the advent of the "noble experiment are with us yet and are caused by eyestrain entailed the day before. by driving violent exercise or excessive reading.' Dr. Neil C. Morrison of Fairbury told the semi-annual ladies night meeting of the southeastern district of the Nebraska Association of Optometrists in the Cornhusker hotel Tuesday evening Formation of ladies' auxiliary organization and the election of Mrs. Clarence R. Carlson of Lincoln as president was completed while the men held their educational clinic Other auxiliary officers: Mrs. Frank H. Beer vice president: and Mrs. N. C. Morrison, Fairbury -treasurer. Mrs. Carlson is state vice president Mrs. O. J. Melvin. Omaha, state president of the auxiliary, was a guest Golf troubles can often be traced to the eyes, Dr. Harold C. Riggert of Seward declared in the course of his lecture. "When patients have eye trouble and you find that they have trouble in golf. look out for disassociation the functioning of the two eyes together,' Dr. Rig gert said Dr. Nellie V. McNeff. Lincoln, and Dr. Earl F. Riggs of Lincoln also spoke. Dr. Carlson presided. It was announced that the monthly dinner meetings would be discontinued during the summer months. Next meeting of association is scheduled for September 18. BANK WILL PAY. SARGENT Neb. May 16-(P)Officials of the Farmers State bank have announced they will pay the remaining 35 per cent due depositors who had left funds there prior to the bank's suspension in February 1932 The bank reopened the following September, paying 35 per cent on the opening day and 20 per cent about a year later.
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PAY UP DEPOSITORS SARGENT, Neb., May 16 Officials of the Farmers State bank they will the remaining 35 percent positors who had left funds there prior to the bank's suspension in February reopened the following September, paying 35 percent on opening day and percent about year later.
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Nebraska News Pioneer Woman Buried. RED CLOUD.-Mrs. Emma I. Coombs, 83, pioneer of Red Cloud, who died Saturday in Washington, D. C., where she had made her home for a number of years, was buried here Wednesday with services at the CongregationalChristian church. Surviving are one son E. S. Combs ofg Washington, and two daughters, Miss Alice of Washington and Mrs. R. E. Camp, of Burlington, Colo. To Pay Depositors. SARGENT. (P). Officials of the Farmers State bank will pay the remaining 35 percent due depositors who had left funds there prior to the bank's suspension in February, 1932. The bank reopened the following September, paying 35 percent on the opening day and 30 percent about year later.
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RADIO FLASHES WJAG'S PROGRAM Friday (4318 days on the air) :00-Irl Hudson (Fields). 7:30-Good Morning club con ducted by Russell Jensen -Devotional (Norfolk Min Isterial Union). the Rev. E. Merle Adams, Congregational church. Program preview and mu sical clock. :55-Grain and Wall Street opening 9:00-Uncle Gene, Wayne Her ald by remote control. 9:30-The Comstocks (Fields) Bernard Fuhr (Fields) 10 00 Weather, markets and Floyd Zarn. of the Street. 10 West Point program by remote Dakota weather markets and musical masterpieces 11:30 Today in History and or gan Raggy Ring (Fields) New Recordings. 12 15-Markets (Fields) 20-Karl Stefan, Radio fam 45-Don Bridge, The Scotch Laf 48 Mail Bag 12:55-Tena and Tim. :15-Stuetsman and Robbas Markets and California Night Hawk orchestra. 2:15-Studio. 2:30-Around town. 3:00-The Demons (Fields). 4:15-Late news 4:20-Safety talk. 4:25-Radio detectives. 4:30-Story Lady conducted by Margaret Williams. 5:30-Russell Jensen, organist, Granada 6:00-- Leon and studio. 6:30-A1 and Wendell (Fields) off. Sargent Bank to Pay Officials of the Farmers State bank have announced they will pay the remaining 35 percent due depositors who had left funds there prior to the bank's suspension in February, 1932. The bank reopened the following September, paying 35 percent on the opening day and 30 percent about a year later.
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BANK WILL PAY OFF Sargent, Neb., May the Farmers State bank have announced they will the remaining 35 percent due depositors who had left funds there prior the bank's pension February 1932. The bank reopened the following September, paying percent the opening day and 30 percent about year later.