14966781Full suspension, Books examined
Other: Traveling auditor/trip took charge; stockholders considering sale, voluntary liquidation, or receivership.
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NEW MEXICAN BANK CLOSES DOORS AFTER DAY'S RUN. Santa Fe, N. M., Feb. 12.-Traveling auditor Ernest Howard was asked today by W. W. Joyce, cashier, to take charge of the Bank of San Marcial at San Marcial. The bank was closed Wednesday morning following a run on the institution by depositors. The last official statement of the bank showed $23,000 deposits. The capitalization was $15,000.
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A. J. LOOMIS BECOMES CHIEF FIELD DEPUTY Santa Fe, N, M., Feb. 12.-A. J. Loomis, publisher of the Santa Fe Eagle and formerly in the internal revenue service, has been appointed chief field deputy for Internal Revenue Collector Carpenter. John L. Zimmerman has been appointed office deputy: Walter Brauner of Phoenix, Ariz, inspector and revenae agent: Owen Murphy of Tombstone. Ariz., field deputy, and A. T. Cornish of Flagstaff, Ariz., office deputy. Clerk Harry F. Lee of the federal court has appointed Arthur A. Seneeal his deputy at a salary of $1,500 per year. Carlos Creamer has been named office deputy by United States Marshal Hudspeth. Traveling Auditor Howell Earnest was asked today by Cashier W. J. Joyce to take charge of the Bank of San Marcial at San Marcial. Socorro county. A run on the bank was started. causing the cashier to close the bank.
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Mercantile company, has returned from New York and Boston, where he went to purchase goods for his company. W. B. Wooters. assistant traveling auditor, was in Albuquerque last night on his way to San Marcial to take charge of the bank of San Marcial, which was closed Wednesday. Mrs. E. Renaud, who Wednesday morning was found guilty of using violent language by Police Judge Craig, yesterday morning was fined $15, which the court suspended. Harmony lodge No. 1, I. O, 0. F., will confer the second degree at Odd Fellows hall tonight. All members are urged to ne present, and visiting Odd Fellows are cordially invited. Three justices of the state supreme court were in Albuquerque last night. They are Chief Justice C. L. Roberts, Justice F. W. Parker, and Justice R. H. Hanna. Mrs. Hanna accompanied her husband. Moses B. Dober, 12 years old, 1008 North Arno street, yesterday morning shot the thumb and index finger off his right hand. He had his hand over the muzzle of a shotgun when it was accidentally discharged. General Manager A. G. Wells, of the Santa Fe coast lines, passed through Albuquerque yesterday afternoon in his private car on Santa Fe train No. 2 enroute from Los Angeles, his headquarters, to Chicago, Miss Mary Hanscom, of Modesto, Calif., a graduate deaconess of the Methodist Episcopal Church, South, arrived in the city yesterday. She will be connected with the Central Avenue Methodist church as pastor's assistant, doing Sunday school and city missionary work, The High school students yesterday heard an address by M. L. Fox upon Abraham Lincoln. In other public schools no entertainments significant of the anniversary of Lincoln's birthday were held, although the teachers in the majority of class rooms called their pupils' attention to the fact. State Engineer James A. French. who has been here several days, completing arrangements for the beginning of work by the state on the road from here to Isleta, left yesterday for Las Cruces. Francis Lester, chairman of the Dona Ana county board, telegraphed Mr. French to come there 14 inspect roads under way. Word was received here yesterday that Mrs. Jesus Romero, wife of the sheriff, underwent an operation yesterday morning at the Mayo Brothers' hospital at Rochester, Minn. A telegram said she revived from the anesthetic in good condition and that she would recover. Mrs. Romero, accompanied by the sheriff, went to Rochester about a week ago,
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SAN MARCIAL BANK WILL PAY ALL ITS DEPOSITORS San Marcial, N. M., Feb. 16.-The Bank of San Marcial which recently closed its doors, will pay its depositors in full. This was the announcement made by deputy traveling auditor L. B. Wooters, of Santa Fe, after a thorough examination of the books of the bank. The traveling auditor found the assets in excess of the liabilities and so far he was able to determine, the only reason for the bank's suspending business was the lack of ready cash.
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PRESIDENT OF SAN MARCIAL BANK ON HIS WAY HOME Wires Journal That Every Depositor of Institution of Which He Is Head Will Be Paid Dollar for Dollar. That every depositor of the Bank of San Marcial, which was placed in the hands of the traveling auditor's office last week, will be paid dollar for dollar, and that there was no necessity in the first place for the bank to close its doors, was the statement made in a telegram received last night by the Journal from Frank Johnson, the president of the institution. Mr. Johnson's telegram was sent from Ash Fork, Ariz, presumably while he was on his way. back to New Mexico from California, where he has been for some time past. It is as follows: "Will be in on No. 10. Have just seen today's Journal. There was no necessity of San Marcial bank closing. Depositors will get every dollar. My wife being in hospital prevented md being there sconer as expected." This telegram is confirmatory of the reports from San Marcial which have already been published in the Journal. Upon his return to Santa Fe after examining the affairs of the institution Assistant Traveling Auditor Wootters stated that the bank was apparently solvent, and that only a lack of ready cash and the inability to realize quickly on its assets caused the suspension. It will be good news to the depositors that no ultimate loss will be OCcasioned by its present difficulties. Whether or not it is the intention to resume business after the trouble is straightened out is not known.
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PLANS CONSIDERED FOR STRAIGHTENING OUT BANK'S AFFAIRS (SPECIAL DISPATCH TO MORNING JOURNAL Santa Fe, Feb. 21. Cashier W. J. Joyce, of the Bank of San Marcial, which closed its doors last week, today submitted three tentative plans to Traveling Auditor Howell Earnest to straighten out the bank's affairs. These plans were submitted to a meeting of directors held this week and will be submitted to a special meeting of the stockholders on February 28, the stockholders being asked to waive their right to thirty days' notice for such a meeting. The first plan is to sell the stock to another set of stockholders who would place the bank on a satisfactory financial footing. The second plan is voluntary liquidation and the third is to appoint a receiver. Mr. Earnest will probably go to San Marcial to attend the stockholders' meeting.