645cbae7269f17acFull suspension, Books examined
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Doors Closed By Two Texas Banks FORT WORTH, Tex., Feb. 1. (U.P.) -Two Fort Worth banks were closed for business Saturday, following brief runs on them Friday afternoon. They were the Texas National Bank and the Polytechnic State Bank. Assurance was given by officials of the Texas National Bank, which also controls the Poly Bank, that no depositor would lose a cent in the banks closing.
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Fort Worth Banks Are Closed deposits call totaled Saturday Fort House was through which demay receive their deposits in institutions closed by order of House Association and the Texas Bank its the section. Bank of Polytechnic, which gathered in front of institutions as the report spread men that safe statement House Associasigned houses other leading Fort Clearing House working through depositors the Texas NaBank may receive their deposits
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HEAVY RUNS CLOSE TWO TEXAS BANKS Depositors' Money Safe, Rumors Trouble Cause, Claim. By The United Press. FORT WORTH, Tex.-Two Fort Worth banks were closed yesterday, the result of heavy withdrawals by depositors. They were the Texas National Bank and the Polytechnic State Bank. Assurance was given by officials of the Texas National Bank which also controls the Poly Bank. that no depositor would lose even cent. Officials of the Texas National Bank insist the condition of that institution is healthy and that the closing down was brought by a run late Friday caused by rumors.
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AGENT WHO INFORMED BORAH IS DISCHARGED Feb. announced today that Frank Flynn, agent gave Sen. Borah, Idaho, the upon which Borah based his charges against John Herbert,F prohibition administrator Montana Idaho, has been dropped from the Flynn's dismissal was due to his failure report Baltiduty more yesterday, Doran AUBREY BANK CLOSES DENTON, Feb. state bank Aubrey, miles northeast of here, closed its doors today. statement Issued by Boner, cashier, said the bank was closed because the closing the Texas National bank at Fort Worth Saturday.
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BANK BY STAFF Feb. anticipated that receiver would be named today for the Texas National Bank, Fort Worth, which closed its doors Saturday, ment was made by the Comptroller's office that no such action had been taken but that probably would be done Tuesday. No indication can be given by the Comptroller's office when positors' funds, now held by the bank, be used in payment of partial dividend. This, insisted, will be determined either by Examiner Jacob Embry. now in charge, or by the ceiver, should he be named. Assurances are given that every effort will be made to obtain early action possible.
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CONTRACT MEETING TODAY The board of directors of Tarrant County Control and Improvement District No. will meet at 3 o'clock this afternoon in the Capps Building to consider execution of a contract with the contractors for the construction of the two new voirs on West Fork of the Trinity of the Trinity Farms struction the McKenzie Company will appear before the today Walter R. Bennett. president of the board. yesterday announced that he did not believe the closing of the Tex as National Bank, depository for the water district. would affect the progress of the lake construction. He the deposit approximately $1,500.000 is fully covered by a depository bond.
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R. L. Van Zandt Due Soont R. Vau Zandr. whose appointment Texas National Bank was anopunced in Vashington Tuesday morning by Comptroller of the Currency Poole, has been instructed to proceed to Fort Worth as soon possible according to disfrom Van Zandt St Augustine, has acting as ceiver national bank. Actual liquidation of Texas National Bank require some time, officials the Treasury indicated Tuesday in Washington. They stated had no information as yet which would to indicate when funds held by the bank be available 12 depositors Son of Maj. K. M. Van Zandt. former governor of the FedBank at Dallas for the Eleventh District Van Zandt is familiar to banking circles in this secHe native of Fort Worth being of Ma. M. Zandt president the Worth ational Bank. He started his eareer in the Fort Worth National Bank where he worked bookkeeper after his graduation from Texas & M. ColHis first appointment of importance the Treasury Department This was at (CONTINUED ON PAGE 4)
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BANK BY STAFF anticipated that receiver would named today for the Texas National Bank. Fort Worth, which closed doors Saturday, announcement made by the Comptroller's that such action had been taken but that probably would done Tuesday. No indication can be given by the Comptroller's office when positors' held by be used payment partial dividend. This, will determined either by Examiner Jacob now by the ceiver. should named. Assurances given that every effort will be made to obtain early possible.
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Van Zandt Named Bank's Receiver FORT WORTH. Feb. 4. (UP)Richard L. Van Zandt, former governor of the federal reserve bank at Dallas, son of Major K. M. Van Zandt, veteran Fort Worth National Bank head. will be receiver for the Texas National Bank, closed following run. Appointment of Van Zandt was announced in Washington Tuesday by the comptroller of the treasury.
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Aubrey Bank Closing Explained. DENTON, Feb. 4.-Failure of the Texas National Bank at Fort Worth to open its doors Saturday was blamed today for closing of the First State Bank at Aubrey, near here. The Aubrey bank had deposits in the Fort Worth institution totaling more than $25,000. sum greater than the bank's capital stock. Prior the closing Fort Worth bank, the Aubrey bank was in "excellent condition. issued by Cashier J. E. Representative of the State Banking Department held Aubrey bank of ficials blameless for the closing, he said. Its deposits totaled $85,000.
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BANK RECEIVER MAY ARRIVE HERE SUNDAY R Van Zandt. appointed as receiver for the Texas National Bank. probably will arrive in Fort Worth Sunday to assume charge the affairs of the in-titution. according to received here. He will terminate his connection with the receivership of national bank at St. Augustine. Fla., of which he was named receiver after the bank closed recently soon as the assets can be delivered to his successor. he said. Van Zandt was named Tuesday to take over closed Texas National Bank and liquidate its affairs.
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ARRIVE SUNDAY Van Zandt, in Florida, to Come Here as Soon as Possible to Aid Texas Nat'l R. L. Van Zandt. who started his career in business as a bookkeeper in the Fort Worth National Bank, probably will arrive here Sunday to take over affairs of the closed Texas National Bank as receiver, he said in message received by The Record-Telegram last night. Van Zandt will leave St. Augustine, Fla., where he is acting as receiver for a national bank. as soon as assets can be delivered to his suehe explained. His appointment as receiver was from Washington yesterday by J. C. Poole, Comptroller of the Currency. The receiver. son of Maj. K. M. Van Zandt, president of the Worth National Bank. received his first important appointment as representative of the Treasury Department in the Philippine Islands at the conclusion of the SpanishWar. He became a national bank examiner later and promotion to deputy of the Federal Reserve Bank at Dallas came in 1916. He later was made governor of the Eleventh District. His other banking experience acquired as president of the National Livestock Bank of Omaha and recently as liquidating agent for the Comptroller of the Currency.
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Aubrey Bank Closing Explained. DENTON, Feb. 4.-Failure of the Texas National Bank at Fort Worth to open its doors Saturday was blamed today for closing of the First State Bank at Aubrey, near here. The Aubrey bank had deposits in the Fort Worth institution totaling more than $25,000. sum greater than the bank's capital stock. Prior to the closing of the Fort Worth bank. the Aubrey bank was in "excellent condition, statement issued by Cashier J. E. Boner. Representatives of the State Banking Department held Aubrey bank officials blameless for the closing, he said. Its deposits totaled $85,000.
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BANK EXAMINER LISTING ASSETS FORT WORTH BANK FORT WORTH. Feb. 10.-(P)Listing of assets of the Texas National Bank by Nationa. Bank Examiner Paul C. Keys was in progress here today as Keys prepared to turn over affairs of the bank to R. L. Van Zandt, appointed reFederal Judge James C. Wilson granted an Injunction Saturday restraining A. L. Banker, vice-president of the Texas National. which closed on Feb. 1, from disposing of assets totaling about $63,000. on deposit to his credit at the First National Bank. Baker was cited to appear before Judge Wilson Feb. 17 and show cause why the Injunction should not be made permanent. Valentines, Valentines for mother, grandmother, brother, sister, sweetheart, friend, (sick or well) and even dad and old grand-dad. CITY BOOK STORE. Sun want ads bring results.
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Water District Unable to Return Deposits to Texas Nat'l, Chief Says The Tarrant County Water Control and Improvement District acting under special can not into Texas National Bank any part of its funds which secured as deposits before the bank closed. That observation was made by W. R. president of the board, when D. Porter and Clarence E. Farmer appeared before the directors for the bank's depositors asked that least 25 per cent of the district's deposit be returned. At the time the bank closed the district had more than $1,000,000 on deposit, which was secured by collateral put the bank. The collatup eral after the closed. After Porter and Farmer made talks, Ireland Hampton, attorney for the Farmer to present brief of the law points in his was made on the matter by the directors Bennett declared that the district by particular law and limited to doing certain thing. "Money can be only for that Bennett stated that the law under which the district makes no provision for contributions any and allows disbursements funds the way and the ends provided by law. "The district has been advised by legal Bennett "that the contract the board had with the bank depository was valid and the pledge of securities also valid. board has no reason to change its on that Farmer asked that the directors turn 25 of the district's posit the bank to lighten the burden the small Farmer indicated group of depositors will file suit against the water board similar steps are taken either by R. Zandt bank receiver. or the comptroller of currency
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RECEIVER FOR TEXAS NATIONAL BANK SUED Receiver R. Van Zandt of the Texas Bank Friday named defendant suit in equity, filed United States District Court by the State Bank of Oakin Leon in the National which the hands the when bank closed. The petiBank State Bank's in Fort Worth.
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Former President of Fort Worth Bank in Charged Three Complaints FORT WORTH, June 17. Samuels. president of the defunct Texas National bank, today was charged In three complaints with forgery and passing of false instruments totalling The charges were filed in Justice Pritchard's court by District Attorney Stuart. The grand jury will investigate the case. The first complaint charges that on March 25, 1929, Samuels forged demand note for $15,000, with 10 per cent interest, using the name of Mrs. Lillie H. Schuster, (ind passed it to the Texas National bank. The second complaint charges that on May 9. 1929, he forged the name of Lillie H. Schuster to per cent demand note for $8,794.75 and the third charges that on October 29, 1929, he forged the name of Mrs. Lillie Schuster to 90-day sory note for at 10 per cent interest. Stuart said that Mrs. Schuster sister of Mrs. Samuels and lives in St. Louis. He said he obtained this information from Mrs. Schuster's legal representative in Dallas. The diffrict attorney will seek extradition of Samuels, who now is in New Samuels has been charged in fedwith misapplication of eral court of the bank's funds. The $1,285,000 Texas National closed its doors January 31 after run. Mrs. H. Cockerill of Mooreland, Okla., returned home today, after visit with her son and daughweek's Mr. and Mrs. ter-in-law, Cockerill. The three spent yesterin Amarillo.
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BANK PRESIDENT ACCUSED Official of Defunct Texas Institution Faces Three Counts. FORT WORTH, Tex., June 18 (P).B. B. Samuels, president of the defunct Texas National Bank, yesterday was charged in three complaints filed in State Court with forgery and passing of false instruments totaling $33,266.54. Samuels has been charged in Federal Court with misapplication of $1,285,000 of the bank's funds. The Texas National closed its doors January 31 after = run.
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SUES ON DEBT TO BANK Receiver R. Van Zandt of the Texas National Bank yesterday filed suit in Court to collect two held by the bank signed Arnold the for Herbert Voss and Ethel B. An derson.
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ALLEGES $397,045 IN FANNIE HARRIS ESTATE IS BANK'S Receiver for Texas Institution Asserts Its Funds Were Used to Purchase Stocks. R. L. Van Zandt, receiver of the Texas National Bank of Fort Worth Tex., brought suit for $397,045 in federal court yesterday against Herbert Frank. 7054 Westmoreland avenue, University City and others. as administrators of the estate of Fannie Harris. Mrs. Harris formerly lived in St. Louis and died last year in Atlantic City. Her will named a Dallas citizen and the Texas National Bank of Fort Worth as executors, but they were not qualified to serve in Missouri The widow's five daughters. her principal heirs, exercised their right to appoint administrators and named the Mercantile- Commerce Bank and Trust Company and Frank, a son-in-law The suit alleges Bertrand Samuels bought stock out of the moneys and funds of the Texas bank and that the stock was issued to Mrs. Harris, without consideration, and that she kept the stock and the proceeds of sales of the stock as her own. The petition also alleges that the funds derived from these stocks did not equitably belong to Mrs. Harris and that the administrators of her estate cannot in good conscience retain or withhold them from the receiver of the bank Van Zandt asked the court to decree that Mrs. Harris held the money and funds derived from these transactions for the bank and that the defendants as administrators now hold such funds in trust for the receiver. He asked for an accounting and 6 per cent interest on the money Mrs. Harris lived at the Congress Hotel and was the widow of A Harris of New York. An inventory of her estate filed on July 30 listed her personal property at $917,864. bring spare Rent Spare NOW through Star Rental