First National Bank (Mascoutah, IL)

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MASCOUTAH BANK RECEIVER NAMED; ASSUMES DUTIES

The Comptroller of the Currency at Washington, D. C., has appointed Fred Manny of Mt. Sterling, Ill., receiver of the old First National Bank of Mascoutah, replacing the conservator, Louis J. Scheve. It is the policy of the Comptroller not to have an officer or director of a new bank, which was organized for the purpose of taking over an old, to act as conservator or receiver of the old bank for more than a temporary period. Manny has entered on his duties. It will be his duty to collect the outstanding notes of the old bank and to liquidate the bonds as the market proves favorable. This receivership has nothing to do with the new First National Bank in Mascoutah which was organized to take over the acceptable assets of the old bank and therefore assumed, and made available 50 per cent of the deposit liability of the old bank.

Asked if an assessment against the stockholders was contemplated. Manny said that he could give no statement in regard to such assessment, since the order must come from the Comptroler at Washington, D. C. Neither could he state anything in regard to the likelihood of the amount of payments to depositors. All information relative to these things, he said, must originate directly from the Comptroller of the Currency at Washington, from whom he takes his orders.

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Mascoutah Bank Receiver Sues Owners of Stock

Frederick Manny, for the First National Bank of Mascoutah, filed today Circuit Court $6700 from stockholders the bank for failure to pay when the bank was The sued Theodore Hagist $6200 and August Hagist for $500. The Theodore Hagist 62 stock the bank and the other defendant owns five When the bank reorganized, following the banking the bill charges that directors voted 100 per cent stockholders. The sessment that the Hagists have failed to these assessments.

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Fr'd'k Manny Indicted at Carlyle on Tuesday

Former Bank Receiver of the Local First National and Breese Accused of Assault

The Clinton County grand jury, meeting in Carlyle Tuesday, returned fifteen indictments and among them was a true bill against Frederick Manny, formerly receiver of the local First National Bank and the National Bank at Breese.

The bill charges Manny with assaulting Miss Viola B. Petermeier, a 20-year-old waitress in a Breese restaurant. The assault, she declared, occurred in the tavern in which she worked and which was close to the bank of which Manny had charge.

A complaint was filed in the Justice of Peace Court of Otto Beier of Breese. The defendant waived a preliminary hearing, gave bond signed by his father, of Mt. Sterling, Illinois, and was held to await the action of the grand jury.

The defendant is a former banker of Mt. Sterling, is about 38 years old and has a family.

He was in charge of the two banks for over a year when the occurrence in Breese led to his dismissal as receiver and the appointment of another.