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Other: Bank later placed in receivership (1926) per court case; articles state board ordered closure and mention reorganization plans.
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NATIONAL BANK CLOSES Cash, Reserve Is Depleted By Recent Runs On Institution HURON,S. D., Jan. 28.-The First National bank here failed to open its doors this morning, national bank officials having found that the runs made on the bank in the last few days had George depleted its cash réserve. Wright is president of the bank.
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NEWS OF THE STATE MPORTANT HAPPENINGS OF THE PAST WEEK IN SOUTH DAKOTA. 'estern Newspaper Union News Service. Colman.-The semi-annual report that Colman is in good financondition, the city "fathers" havconducted the affairs of the city a very careful manner during the year. The city has an outstandbonded indebtedness of only $14,and to offset this has at the resent time $11,380 in the sinking to take up the bonds, leaving an debtedness of only about $2,500. he small indebtedness makes the of taxation very low. Belle Fourche.-The helium gas iscovered in the vicinity of St. Onge, miles east of here, is said to test highest percent of helium of any found in the United States. Much terest is manifested in this disovery because of the scarcity of elium and of its importance in the evelopment of lighter than air flymachines. Rapid City.-Twenty-seven thouspounds of alfalfa seed was shipout of here in one day in one by the Western South Dakota Ifalfa Seed exchange to Lexington, Jeb. Much seed has been shipped here this season, and many reuests for samples of alfalfa seed rown in this section have been filed. Canton.-The Canton churches have ecided to avail themselves of the rovisions of an act of the last legispermitting religious instrucof pupils of the public schools. committee of the various protestant hurches has agreed that Wednesof each week shall be designated religious education day in Canton. Centerville.-Reports made at the nnual meeting of the members of co-operative company which cona creamery in this city, show hat the institution made a good rofit during the past year. The reamery also has been an important actor in the prosperity of the farmers this district. Webster.-As the result of the adustment of claims for hail losses hich have been pending since last ummer, farmers of this (Day) counhave received an aggregate of 137,000, to cover the losses which set forth in their claims against state hail insurance department. Presho.-The Presho State bank not close its doors as reported in news dispatch from Sioux Falls. )wing to a similarity of names, an was made in giving the name of he bank. The cashier of the Presho bank stated that the institution in a sound condiion. Flandreau.-At a meeting of the nembers of the commercial club the natter of holding a Moody county this year was discussed, and it decided to hold such a fair in landreau and a committee was apointed to further the project. Huron.-The First National bank, Huron, which recently took over he City National here, was closed order of the board of directors folowing a run. There is every reason believe that the bank is solvent will be reorganized. Colome.-Shipments of grain, livetock and poultry reached 131 caroads out of here in December. The novement of grain and live stock is arge thus far in January. The best of corn yet reported was 6,000 pushels from 103 acres. Belvidere -A lerge number of corn
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PLAINTIFF WINS COURT CASE Elliott Directs Verdict in Action of Bank Receiver to Recover on Note A verdict in favor of the plaintiff in federal court today after trial before jury of the case brought by the receiver for the closed First National bank of Huron versus Thomas Fleming. The action was on note for $2,230. Judge James D. El Hott directed the jury to return a ver diet for the plaintiff. The sought to use certif icates in his as an offset against the note. The court held that there was insufficient evidence to show that these certificates, which had orig. inally been issued to another person, had been acquired by him prior to closing of the bank, and therefore could not be an offset. The plaintiff was rep by Churchill and the defendant by Byrnes & Markey, both of Huron. Another jury case was started this afternoon. was the case of Connie Dixon versus the Great Northern Life Insurance brought to cover on certain life and accident insurance policies. Cherry, Davenport Braithwalte the plaintiff Bailey & Voorhees the defendant. An allegation of violation by the Chicago Northwestern Railway company the federal law requiring 85 per cent of the brakes on train to be in use was admitted by K. Gardner. attor ney for the railroad. in withdrawing his to action by the The railroad is subject to fine of $100