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RECEIVER GETS OLD BANK. LAS CRUCES. N. M., February 4.The Bowman Bank and Trust Company of Las Cruces, capitalized at $100,000, closed yesterday and is in the hands of the state bank examiner. The bank's deposits totaled about $275,000. It is the oldest bank in southern New Mexico.
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SEEK J. B. READ AS RECEIVER OF LAS GRUGES BANK Depositors Do Not Want Any Officer in Cruces Bank to Act as Deputy Under Read --Advisory Group Named. [SPECIAL DISPATCH TO MORNING JOURNAL) Las Cruces, N. M., Feb. 9. - -Two hundred and fifty of the 1,400 depositors of the Bowman Bank and Trust company, which was closed February 3, expressed themselves at a meeting in Las Cruces armory the afternoon of February 8 as In favor of the appointment of James B. Read, state bank examiner, as receiver for the institution. The amendment to the resolution that no officer of either of the banks in Las Cruces be appointed to act as deputy under Mr. Read, was also carried by an overwhelming vote. A motion also carried that the following named men be appointed as an advisory committee, empowered to employ legal counsel, if necessary, to co-operate with the receiver: Dr. H. L. Kent, president of the New Mexico college of agriculture and mechanical arts: H. H. Brook president of the Elephant Butte ir. rigation district: Vincent B. May, head of the V. B. May company; C. T. Turney, cattleman; S. F. Bean, director of the Las Cruces chamber of commerce; W. R. Bradford and J. C. Robbins. Dr. Kent presided with M. B. Stevens as secretary. The meeting was harmonious throughout. The general feeling is that with careful handling the bank will-pay out in full.
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REPORTS ARE BEING PREPARED TO SHOW 2 BANKS INSOLVENT (Special Correspondence to The Journal.) Santa Fe, Feb. ).-Reports are now being prepared by the state banking department showing insolvency of the Bowman Bank and Trust company of Las Cruces, and the Encino State bank of Encino. When these reports are filed the attorney general will ask the courts to designate James B. Read. state bank examiner, as receiver. When this is done Read will appoint two deputy bank examiners, each to have charge of one of the institutions and close out its affairs.
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NAMES READ RECEIVER OF LAS CRUCES BANK (Special Correspondence to The Journal.) Santa Fe, Feb. 13.-Judge Edwin Mechem of Alamogordo, presiding judge of the Third judicial district, has appointed James B. Read, state bank examiner, receiver of the suspended Bowman Bank and Trust company of Las Cruces. Read is leaving today for Las Cruces to take charge of the institution, which is now in charge of Frank W. Campbell, former cashier, as a deputy state bank examiner. Read said he is not yet ready to name his appointee as assistant state bank examiner and co-receiver.
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DUKE CITY MAN NAMED CO-RECEIVER OF BANK (Special Correspondence to The Journal.) Las Cruces, N. M., Feb. 16.James B. Read, state bank examiner, appointed by Judge Edwin C. Mechem of the Third judicial circuit, to be the receiver of the Bowman Bank and Trust company of Las Cruces, has named C. C. Ozment of Albuquerque as assistant state bank examiner and co-receiver of the institution. Messrs. Read and Ozment are here and have full charge of the bank. Members of the depositors' committee, chosen at a mass meeting here a week ago, when H. H. Brook, president and manager of the Elephant Butte irrigation district, was chosen chairman, met with the receivers the afternoon of February 16. The impression prevails that the assets, when all collections are made and the real estate is disposed of, will be sufficient to pay 100 cents on the dollar to depositors. Officers of the depositors' committee have the utmost faith in Messrs. Read and Ozment. This confidence is shared by the people of the town and district. Mr. Ozment has had wide experience as receiver for several national banks. His last appointment was as receiver of the State National bank at Carlsbad, N. M.
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Sheriff's foreclosure sale 'of property of the Cotopaxi Mining company creates deep disappointment for many people. The company owned a large mineral deposit up in a beautiful wooded gulch less than a mile from the station and in the past year had built a large and first class ore mill at cost of $60,000. Why the enterprise did not prove a success has not been given out. Four range cattle, having wandered down the mountain side and on the Colorado Midland road, were killed in tunnel No. 4, by the passenger train from Cripple Creek. Winding about in the dark tunnel the engine struck the cattle about midway thru the bore Perry Brothers at Calcite are now operating the C. F. & I. quarries and are getting out a large amount of lime which is being shipped to the Portland mill in the Cripple Creek district. The State Soldiers' Home hospital has lately been recruited by the addition of two capable nurses, Mrs. Ashby of Del Norte, a registered nurse of wide experience and Mrs. Lee of Monte Vista. Prof. O. B. Drake, superintendent of the Canon City public schools. who has been seriously ill at the Graves' hospital for a couple of weeks, is not making progress and has high fever. Petition asks for appointment of the state bank examiner, Read, to be receiver of the Bowman bank at Las Cruces which was closed a few days ago. There are 1,400 depositors. Isabel Hockenson, pretty daughter of Mrs. Coren Hockenson of Colorado Springs, had her skull crushed when an automobile turned over on the Go!den road outside of Denver. She was taken to a hospital but died in a few minutes. Managers or the Myron Stratton home, Colorado Springs, have decided to build an infirmary. The building will have a capacity of 35 beds and It will cost $75,000. Dr. Claude E. Richmond prominent physician of Colorado Springs was run down by a Santa Fe passenger train on Del Norte street and seriously injured and his car wrecked. The doctor is . in a hospital. vorume Mrs. Eva Johnson, 72 years old, died at the Denver county hospital from burns received while she was lighting her pipe. Clarence A. Smith has been appointed postmaster at Delta, Colorado. Smith-seems 's If we'd heard the name somewhere. Temperature has been fifteen degrees below zero as far eouth as GalIup. SATURDAY and MONDAY
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BOWMAN BANK & TRUST CO. DEPOSITORS ARE TO BE PAID IN FULL (Special Correspondence to The Journal.) Las Cruces, N. M., May 9.-The depositors' committee of the Bowman Bank and Trust company, which closed its doors February 3, has issued a report signed by H H. Brook, chairman: C. T. Turney S. F. Bean, W. R. Bradford, Vincent B. May and H. L. Kent, saying that the depositors will be protected to the full extent of the law. The report says that when the bank closed it owed $105,000 in bills, payable, overdrafts and other secured deposits, all secured by large blocks of borrowers' notes, bonds and other paper, subject to foreclosure and sale. This prohibited offsetting and made collections and other transactions d'fficult. By permission of District Judge Mechem receiver's certificates amounting to $40,000 issued and placed with the Seaboard National bank of New York at 6 per cent. At this time, the report says. the bank is free of entanglements and the receiver's certificates have been reduced to $20,000, adding: "It appears from present figures that the receivership will not cost the depositors anything. All expenses probably can be paid from accruing interest on the good notes." Journal Want Ads bring results.