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BANK COMMISSIONER SUES JAFET LINDEBERG FOR CASH SAN FRANCISCO, March 26Bank Commissioner Hay, of the state of Washington, has filed suit in the federal court here to compel Jafet Lindeberg and Erik O. Lindblom to return to the receiver of the defunct Scandinavian American Bank, of Tacoma, the sum of $464,951, said to be due the bank on promisory notes given by the two defendants.
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Grand Jury Inquiry of Bank Failure Demanded TACOMA, Jan. 19.-Prosecuting Attorney W. D. Askren, today asked the Superior Court to call a Grand Jury investigation of charges of gross mismanagement of the affairs of the Scandinavian American Bank of Ta coma, which closed its doors Monday owing to several thousand depositors and having only relatively small assets. The Court indicated that it would comply with the prosecutor's request if evidence is produced ind cating criminal acts in connection with the bank's failure. Other Tacoma banks have announced that money would be advanced depositors in the defunct institution and no run on other banks is anticipated.
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FORMER HEAD OF BANK ALLEGED EMBEZZLER TACOMA, Feb. 11 (by Associated Press).-Ole Larson, former president of the defunct Scandinavian-American bank here, has been arrested, charged with the embezzlement of $60,000 of the bank's funds, on a note purported to have been signed by Jatef Lindeberg, president of the Pioneer Mining & Ditch Company of Alaska. Lindeberg has notified the receiver of the bank that the note is a forgery. He is one of the heaviest debtors of the bank. The note was signed more than a year ago. Attorneys for Larson are trying to get a reduction of the amount of his bail, which was set at $100,000.
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# Bank President Is # Out on $20,000 Bail Ole S. Larson, former president of the Scandinavian-American Bank of Tacoma, which recently was placed in the hands of a receiver, was released from the Tacoma jail Saturday on $20,000 bonds. Larson is under grand jury indictment for alleged misappropriation of the bank's funds.
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LINDEBERG IN THE LAWS TOILS Tacoma, Mar. 16.-Jafet Linberg, the spectacular operator and reputed very wealthy Alaskan is finding life more or less stormy. He has been indicted by the grand jury in connection with the failure of the Scandanavian-American bank in TaReceiver Haskell announccoma. ed that Linberg and the companies with which he is associated owe the bank something like a million dollars. When a man is down others fall upon him. Such is the case with Linberg. Two suits have been filed against Linberg by the stockholders of the Pioneer Mining and Ditch Co. of this city. The one suit is for recovery of the Seward Peninsula railway of Nome, which Linberg is alleged to have bought for the company and which he has refused to turn over to the company. The other suit is for the recovery of one hundred thousand dollars advanced to Linberg by the company. San Francisco, Mar. 17.-The authorities were advised that a warrant charging Jafet Lindberg with complicity in wrecking the Tacoma, Scananavian American Bank, is enroute here. Heretofore any attempt to arrest Lindeberg has been blocked by his attorney because a warrant was not at hand. Guy E. Kelly the attorney for the receiver of the bank is here pressing the case against Lindeberg. He declares that the arrest is only a question of hours.
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Thick. Stifley. Spring fever. Odor of green onions, Open season for poets. Outside of Central building needs a bath. a Course in beginning Chinese to be given at U. N Victims of Sunday night bus-truck 5 smash at Tukwila improve. , Tacoma has Peeping Tom. Peeks f in J. E Harvett's home there. e Kiddles' Easter parade. Bon a Marche baby shop: 3 p. m. Tuesday. Good Friday concert. Friday 8 p. . m. Plymouth Congregational church. Be Campbell Kellerher, 1116 Spring st., awarded A. B. degree at Hark vard. r Pierce county dogs finest. says that county's treasurer. How "bout it. dogs? Herbert A. Owen, mayor's secretary. announces his middle name. It is Alfred. "Thou shalt not kill" to be em blazoned on new traffic pamphlet in Taconia. Mines shut down to boost B. c. coal, says J. C. Reynolds, an open ator of B. C. Two Tacoma maids celebrate spring's arrival by swimming in Sound! Br-r-r! Tacoma city council Indorses Spokane council's attack on certificate of necessity bill. Tacoma Scandinavian-American bank depositors urged to file claims before Saturday. Waits five years for chance to file on oil claim. Alexander Enos. Leaves for Alaska today. High freight rates may force 1 shut-down of St. Paul & Tacoma Lumber Co.'s plant. b Maj. Carl H. Reeves celebrates t happy springtime with a new batik (hand-painted) necktie. City council and board of public . works plan day's trip to Cedar Falls power plant Wednesday, 1 Found One fishing pole, one can of worms. Ballard car. Now at lost bureau of muny railway. Good news for bird dogs. State game farm passes out China pheas ant eggs for propagation. Lineman steps on her foot. Pacific Telephone & Telegraph Co. pays Hope C. Benton, 11. $125. n Dances. Kilts. Bagpipes. Brogue. t Mutual Business Men's association Scotch entertainment, April 4. Didn't intend to violate law. Only had booze. Otto Hugo and Ben Willford charged in federal court. Seattle residents prepare to com₫ mute. Practice running for boats, e juggling huge parcels of groceries. Edward 8. Franklin, Industrial In₫ surance shark, arrives from Victoria with three pairs of Scotch plaid socks.
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Lindeberg, Lindblom Sued To Recover Bank's Funds SAN FRANCISCO, March 28.The Bank Commission of the State of Washington has filed suit in the Federal Court here to compel Jafet Lindeberg and Erik O. Lindblom, directors of the defunct Scandinavian-American Bank of Tacoma, to return to the receiver of the bank a total of $464,951 alleged to be due on promissory notes.
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SUE FOR RETURN OF MON San Fracisco. March 28.-A suit has been started against Jafat Lindeberg and Erik O. Lindblom for a return of $46,495 with interest which is due the receiver of the Scandinavian-American Bank of Tacoma. This suit has been filed in the United States district court by C. E. Hay the bank commissioner of Washington. Lindblom's part is one hundred and twenty one thousand dollars.
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Sues For $464,951 Claimed Due Bank SAN FRANCISCO. March 28.-A suit to compel Jafet Lindeberg and Erik O. Lindblom, Alaska, Tacoma and San Francisco capitalists, to return a total of $464,951 said to be due, with interest, to the receiver of the candinavian-American Bank of Tacoma, was filed in the United States district court here today by C. E. Hay, bank commissioner for the state of Washington. Lindeberg, a former director of the bank, is under indictment in connection with its closing and his extradition to Tacoma is being sought. The funds were in the form of promissory notes from the bank, according to Hay's complaint.
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SEATTLE, March 28.-Three Chinese discussing the Alaska fish cannery work in a room on the fourth floor of a hotel here were interructed by the police. Excitement ensued and Kow Tee Lee, one of the trio, jumpd through the the window into the street sustaining probably fatal injuries when he landed on the pavement. SAN FRANCISCO, March 28.-Suit to compel Erik O. Lindblom to return $46,495 due with interest to the receiver of the Scandinavian American Bank of Tacoma was filed in the United States district court by C. E. Hay, bank commissioner of Washington. Lindblom has had $120,000 from the bank. NATCHEZ, Miss., March 29-Lieut. W. D. Coney, the injured aviator took a change for the worst and his physicians have very little hope for his recovery. Pneumonia has made its appearance. Social prayers are being given in all the churches for his recovery. His mother arrived at Natchez. PENSACOLA, March 29-Seerch for the missing baloon has been largely suspended because of threatening rain tomorrow. Dirigible patrol believe that the men if alive are aboard a sailing ship lacking wireless WASHINGTON, March 29-Tornado damage nearly twenty thousand dollars and two dead n addition to ail previous reports from Rushmore. FONDA, Ia., March 29---Another tornado swept the south eastern section of Fonda last night which injured four and did damage estimated at one hundred thousand dollars. WORTHINGTON, MINN, March 29-A tornado folowing a day of rain killed three and practically leveled the town of Rushmore to the ground Saturday night. FEONDA, March 29-Six were injured and considerable property damaged by a tornado here yesterday. LONDON, March 29-Lloyd's News attributes the Sinn Feiners with causing several incendiary fires in the vicinity of Newcastle on Tyne where many farms were set ablaze last Saturday night to the tune of several thousand pounds sterling. OLYMPIA, March 29-A formal request for petitions for the recall of governor Hart of Washington because of his action in signing the poll tax law was filed today with the secretary of state by Joseph R. Manning a Seattle Undertaker and Mrs. Geeorge MacLaughlin a prominent club woman of Seattle. SEATTLE, March 29-Charges filed here against Pothier and Rosenbluth were dismissed. E GERMANS ALL SAME BOLSHEVIKI COBLENZ, Germmany, March 28.-A Communist up rising occurred this morning in the Bridgehead area at Montabaur, six miles North Eeast of Ehrenbreitstein. A Riot call was answered by thee Provost Marshal and the American military police were sent to Montabauer to restore order. OYSTER BAY, Marh 28. 1 -William J. Burns, the famous private detective, announced today that he expects to
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LARSON GETS TERM IN PEN Tacoma Bank President Must Serve Time TACOMA, June 13.-Ole Larson, president of the defunct Scandinavian-American bank, was given two sentences of from three to ten years in the state penitentiary, following his conviction on two separate charges of borrowing $10,000 and $6,000 from the bank without proper resolution of the board of directors. The two sentences are to run concurrently. Larson's lawyer told the court that unless Larson is operated on immediately he will die within six months. Notice of appeal to the supreme court was given. Larson's counsel argued that the bank president was not responsible for the bank's collapse, that he had been made the goat. Judge William D. Askren replied that while Larson's conviction may have been due to a certain technicality, nevertheless it was due to failure to observe the statutes that the smash came. The judge told him in effect that if Larson was "the goat," the 12,000 depositors who entrusted their funds to him were also "goats," or victims. Sixteen of the 24 indictments on which Larson was held were dismissed.
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Seattle, July 1.-The Scandinavian American Bank of this city suspended this morning, owing depositors about eleven million dollars. The closing of the bank followed a meeting of the directors this morning, at which the decisive action was taken. A run has been in progress on the Seattle bank since the fail ure of the Tacoma ScandmavianAmerican Bank, which it originally founded as a branch. John H. Duke, supervisor of State banking, took charge of the institution this morning.. It is the opinion of conservative bankers that the closed con-
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The bank was a member of the federal reserve system, the Seattle Clearing House association and the Washington State Bank Depositors' Guaranty fund. Shrinkage of values during the last year and a half and recent abnormal deposit decreases were given by John P. Duke, state supervisor of banking, as reasons for suspension. Failure of the Scandinavian-American bank of Tacoma several months ago was believed to have been responsible to a large extent for the withdrawal of deposits. The institutions were not connected when the Tacoma bank failed but for a long time had been closely allied. Following the action of the directors in suspending, Supervisor Duke issued a statement in which he absolved the present management from blame and declared that "credit is due it for its earnest and untiring efforts to protect the interests of the depositors and carry the bank over its troubles."
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SEATTLE BANK CLOSES DOORS Seattle, July .-The financial world was shocked early this morning by the news which swept over the city that the Seandinavian-American Bank had suspended It was known that a quiet run has been in progress on the Bank ever since the collapse of the Tacoma Scandinavian American Bank. The Tacoma Bank was originally founded by the Seattle Scandinavian American Bank, as a branch bank. John H. Duke, supervisor of State banking took charge of the Seattle institution this morning. The bank owes about eleven million dollars to its depositors, and it is the opinion of conservative bankers of the city that the concern will in time pay up nearly in full. The ScandinavianeAmerican Bank has been looked upon for many years as one of the strongest financial concerns on the Pacific coast, and its depositors are distributed all along the coast as far north as Nome and Teller. as it did an immense business with Alaska. Seattle, July 1.-It has been announced that Jafet Lindeberg, the Nome millionaire miner and banker, held a controlling interest in the Scandinavian American Bank at one time. The bank had at the time it suspended five thousand commercial accounts and over twenty one savings banks accounts. It is known that many Alaskans are in the crash. Seattle, July 1.-Mrs. Charles E. Taylor, formerly of Iditarod, Alaska and a sister of Judge James Wickersham died here today. Mrs. Taylor has been living in Seattle for some time and has been under treatment for an extended period. She died at the family residence. Seattle, July 1.-J. E. Chilberg who formerly was head of the Scandinavian American Bank, and whose booze operations during the war period contributed much to the crash arrived at Tacoma today from New York. Chilberg is under indictment for his connection with the defunct Tacoma Scandinavian American Bank, and will be placed on trial as soon as court convenes.
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TUESDAY (TELEGRAPHIC) BELIEVED SCANDINAVIAN AMERICAN BANK WILL PAY NEARLY FULL Seattle, July 5--It is the opinion of conservative bankers that the closed Scandinavian-American bank of Seattle will in time pay up nearly in full. The bank suspended owing depositors about eleven million dollars. The action was decided upon at a meeting of the directors. A run had been in progress on the bank since the failure of the Scandinavian--American Bank of Tacoma, which it originally founded as a branch. John H. Duke. Supervisor of State Banking is in charge of the institution.
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SEEK TO REGAIN BANK DEPOSITS Last Day" Claims Against Scandinavian in Court Whether last day depositors In the BcandinavianAmerican bank of No. aftle, which closed Its doors June 30, 1921, are entitled to have their deposits refunded, or whether all money taken in on the last day may be considered assets of the institution by the state banking supervisor, was to be decided Monday by Superior Judge C. H. Neal. Evidence in a suit brought against the Beandinavian-American bank of Seattle and J. P. Duke, state bank. ing supervisor, by the Washington Shoe Manufacturing company, was being presented to the court. Four teen other claims have been assigned to the Washington Shoe Manufacturing company for the purpose of the test case. Ralph 8. Stacy, vice president of the Union National bank. and prestdent of the Scandinavian-American bank of Seattle at the time of its failure, admitted on the stand that deposits were accepted on June 30, 1921, in the hope that the bank could be saved: but in case negotia tions fell thru, he testified, such deposits were placed in separate envelopes and were not entered on the books, so that they might be returned. Stacy said that failure of the Scandinavian-American bank of Tacoma started a run on the Seattle institution, which resulted in $3. 500,000 being withdrawn. J. 8. Lane, for 25 years cashier of
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NOME DEPOSITORS RECEIVE DIVIDENDS FROM DEFUNCT TACOMA BANK Nome depositors in the Scandinavian American Bank of Tacoma, which suspended payments two years ago were the recipients of ten per cent dividend checks which arrived in the last mail. This is the fifth ten per cent dividend paid by this bank since being taken over by the banking board of the State of Washington for liquidation.