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LANCASTER STATE BANK IS SUSPENDED -Decline in deposits caused suspension of the Lancaster State bank at the close of business April 7, the state banking department announced today. The bank is the sixth in the state to close since March 24. The bank was capitalized for $50.000; deposits totaled $233,000, and it had a surplus of $10,000. L. H. Stevens is president; G. Stevens, vice president, and L. O. Pennock, cashier.
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CLUB NOTES The Woman's Club held its annual Mother and Daughter Banquet last evening. large number Thursday mothers and daughters were presof pleasant social event. ent for delicious meal the tables Following were removed and dancing followed. The club members, planning convention to be held for the district here May, found the treasury depleted by the closing of the Lancasmeeting held ter State bank. A was Saturday decide means raising immediate money that the convencould be financed. tion sell Liberty bond was decided bought during the war. that the Club
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ON that on "Black The story goes Tuesday, the day the news of the closing of the Laneaster State bank the county, even institutions the most worst in the way of for the run on the bank." But few withdrawals and those mostly by women One woman came into were made. bank and her money, had deposit. The she on in the polite cashier complied H. and with dispatch. manner He his out that in these gold coin, explaining the regular paper money times even It not related might not be good! did with her gold what the woman even bet that but it an her without it back in the trouble, she will put bank.
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J. F. Cass Takes Charge of Bank at Lancaster LANCASTER - James F. Cass. Madlson. has been special deputy by the state commission to take charge of the Lancaster State bank, which suspended business recently. Mr. Cusa arrived here Tuesday and relieved Examiner Jamieson, who has been here since the bank closed nearly two months ago. committee representing the deposttors conferred with Schwenker, state banking last week in regard to n plan for reorganization.
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J. F. Cass Takes Charge of Bank at Lancaster son, has appointed special deputy by the state banking commission to take charge of the Lancaster State bank which business recently. Mr Cass arrived here Tuesday and relieved Examiner Jamieson, who has been here since the bank closed nearly two months committee representing the deposttors conferred with Schwenker, state last week in regard to plan for reorganization.
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Platteville Journal Entered the Platteville Post Office second-class mail matter Debecription per year. in advance Published Wednesday noon HOW WE SPEND MONEY "Electrical Merchandising,' magazine for the Electrical Trade, has some interesting facts regarding the expenditures the American family These figures have been widely and continually quoted. Here they Cars average buyer spends $776. $3,763,869,000 was the retail value of the 4,850,000 passenger cars sold in 1929. Gasoline: The National Automobile Chamber of Commerce survey made last year showed the average passenger car traveled miles in year and the cost of the gas was 1.3 cents mile $143 per year. Cream: The S. Bureau of Agricultural Economics give figure 348,048, 000 gallons of ice cream as the total consumption for 1928 70 cents quart the average price, 28,800, 000 the number of families- result $34 an average family per year. Radio sales in 1929 amounted to $842,548,000. This was divided by 11,800,000 the number of families ing January 1, 1930. Candy-$35: report of the Foodstuffs Division of the Department of Commerce shows that the annual candy bill the States for period of one year is Divided by the 28,800,000 families gives the average $35.00. $65 is the yearly averagé per family for tobacco. The retail tobac conist says that $1,870,000,000 worth of tobacco used in 1929. Divided by 28,800,000, the number of families the United States on January 1930. Electrical $656,000,000 total sales of electricity to residental customers was divided by the number of wired homes— $33.00. The story goes that on "Black Tuesday, the day of the news of the closing of the Lancaster State bank was bruited around the county, even the most solid banking institutions prepared for the worst the way run on the bank.' But few with drawals and those mostly by women were made. One woman came into bank and demanded her money, $1,700.00, she had on deposit. The cashier complied in the most polite manner possible and with dispatch. He counted his customer out 700.00 in gold coin, explaining that in these times even the regular paper money might not be good! It related what the woman did with her gold but it is an even bet that knowing can get her money without trouble, she will put it back in the bank. Lancaster Herald A hunger strike of several weeks ended the suffering of Mrs. Lda Stoi ber, patient at Milwaukee hospital for almost year. Gangrene devel oped after the leg was broken in automobile accident Sept. 30, and several amputations were necessary to stop the spread of poison. When physicians made determined effort keep her alive she went on hunger strike to end her sufferings. Boscobel has just placed an ordinance on its books which makes it misdemeanor to operate electrical vices that interfere with reception of radio, programs. The penalty varies from $1.00 to $10.00 or from one to ten days in the county jail. Dust is one of the great drawbacks to motoring in these parts. The other night at the meeting held for setting forth the beauties of Southwestern Wisconsin, Dubuque automobile club man said he would like route more tourists through Southwestern Wisconsin but he found driving this region, that he had seek hotel every few miles to wash the dust off his neck. "Brownie" says, tut! It's not so bad that, and the entrancing hills and valleys of our southwestern counties are well worth braving little dust to see. Yes, there's dust on them thar roads now and when the millions of motorists discover southwestern Wisconsin, as they are bound to do, dust problem. So, if those alert folks there can get some concrete, get more oiled surface to add to the goodly miles of today, otherwise minimize dust, it will help."
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COUNTY SOLONS HOLD INTERIM BOARD Grant County Board held interim June disposing of which could not be held over the regular session November. The Board passed resolution the district to take whatever action may be sary to recover county demoney posit the State bank, recently suspended. also voted request the circuit court to appoint assistant counsel to assist the district attorney should civil litigation be necessary. Carthew this was for the post. The Board empowered the county clerk issue quit claim deeds parties acquiring land in which the county has The Board authorized the transfer land in Bloomington, not needed for purposes, A. Welsh, committee was empowered select county requiring surety bond The balance will consist fund. funds will be invested in The chairman and county clerk authorized to borrow money needed to finance county work until the regular meeting in November. voted to suitable for the residence. of the county were quested to publish the of this meeting at legal rates. Such legal report will appear the next issue the county papers. The committee appointed to act under resolution reference to and difficulties arising the closing of the State Bank and of the closing of the Lancaster State Bank, follows: County Chairman, Fahling, Willis, Ben Marcus, Krog. same named members will act committee to select county positary.
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BANK MEETING meeting the creditors the Lancaster State Bank was held the Grantland Theatre Saturday afternoon. At this time report of the depositors' was read DuHamel who acted as of the activities. The placed of the bank's assets in the This amounts 35% of the total loans and discounts. this is real estate owned directly by the bank. The tion notes was unacmaking the as reported in the last statement. Creditors were urged sign the waivers for the 35% of their deposit. Many those present did this immediately. The selection trustee to aid collecting the 35% left to the discretion of the positors committee. People were also urged take stock in the reorganized bank. The meeting was journed. The continue work steadily the signing of the waivers by the deposits and the raising of capital to start the new bank.
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LANCASTER Petition to prove the wills in the estates of John Mc Limans and Herman Enke, deceased. Petition for the final settlement in the estates of George Bray and John Connell, deceased. Petition for the partial distribution the estates of Margaret Specht and John Wenzel, deceased. Petition for extending the time for the final settlement in the estate of George A. Kruel, deceased. Petition to sell real estate to pay the debts in the estate of George Groom, Hearings of claims filed against the estate of Harley Ziegler, an incompetent, and the Estates of Mary Skola, George W. Moody and Albert Bowers, deceased. Marriage Licenses Kenneth Bass, Rewey, Florence B. Hubler, Platteville. John Studnicka, Muscoda, Gail B. Plank, Highland. REORGANIZED BANK OPEN FOR BUSINESS The doors of the newly re-organized Lancaster State Bank opened for business Monday. The new bank will continue in the same building occupied by the Lancaster State Bank that suspended business Tuesday, April and has since been in charge of E. Cass, Madison, appointed special deputy by the state banking department. The new bank has a capital stock of $15,000 with reserve fund of 12,500 and will liquidate the affairs of the suspended bank and pay the depositors 65 per cent of their original deposit in the following way: 10 per cent to be paid after the first months, 10 per cent each following three months until the 65 per cent is paid. A meeting of the stockholders was held Thursday and the following directors elected for the new organization: George Beck, M. DuHamel, Schmidt, Thomas Welsh and John Vesperman. The directors held their meeting Tuesday evening and elected their officers: George Beck, president; Thomas Welsh, vice president; M. Irgens, cashier. Mr. Irgens comes from Goodhue, Minn., where he had eight years banking experience and will have full charge of the new organization.
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Lancaster State Bank The Lancaster State Bank, with terior re-decorated and all slicked up, opened its doors last Monday and doing business as old. certainly looks like more prosperous days to see those shades up again catch glimpse of the Herbert the walls; see the officers busy their desks people going in and out. The board of directors follows: President, George Beck; M. DuHamThomas Welsh, John Vesperman Elmer Schmidt. The officers are Beck, president; Ingers, cashier and Albert Thiel assistant comes here from Bismarck,
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Lancaster LANCASTER Five counties southern Wisconsin will share liberalthe distribution of the state school Grant county will receive Crawford county county. Iowa county $62,545 and Lafayette county $54.512. The newly re-organized Lancaster state bank opened Jan. The new bank with capital stock and reserve fund 500 will continue in the same building occupied by the Lancaster State bank that suspended business April The new bank will liquidate the fairs of the suspended bank and pay the old depositors 65 per cent of the original deposit. 10 per cent to be paid after the first months. 10 each following months until the 65 per paid inceting of the stock iders of the was held Thursday and elected the directors: George Beck, Du Hamel. Schmidt, John Vesperman, Thomas
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Lancaster LANCASTER Five counties southern Wisconsin will share liberalin the distribution of the state school funds. Grant county will receive $96,649 Crawford county $63,550 Richland county. Iowa county $62,545 and Lafayette county The newly re-organized Lancaster state bank opened Jan. The new bank with capital stock and reserve fund of $12,500 will continue in the same building occupied by the Lancaster State bank that suspended business April The bank liquidate the affairs of the suspended bank and the depositors 65 per cent the original deposit, 10 per cent to be paid after the first months, 10 per cent each following months until the 65 paid. the stock of the organization held Thursday and elected the following directors: George Beck. C. Du Hamel, E. John Vesperman, Thomas Welsh.