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PETITION FOR BANK RECEIVER IS Judge Reid Rules That Bank of Tomahawk Shall Remain Under State Banking Commission Supervision Judge Reid today over ruled ceiver for the Bank The was made by AtSmith in behalf torney twenty depositors the Judge Reid ruled that affairs the bank should remain under supervision of the state banking commission until such time decision made organize or liquidate the bank
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Judge Again Rules Against Motion For Bank Receiver Judge A. H. Reid yesterday expressed the tentative opinion that he had no right to appoint a receiver in place of the state banking commissioner in the case of the closed Bank of Tomahawk. since the deputy commissioner in charge of the bank at present is actually an officer of the circuit court. This ruling came at the end of hearing of a prematurely renewed motion made by Attorney E. C. Smith on behalf of a group of depositors for the appointment a receiver. During the hearing. Mr. Smith established that the deputy commissioner had sold some assets of the bank without knowledge. or approval of the court. Judge Reid ordered that no assets may hereafter. disposed of without order from the court. In the matter concerning power of the court to appoint a receiver. "Judge Reid asked both attorneys to submit briefs to the court, indicating that a definite ruling would be made later.
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RFC LOANED $600,000 TO WISCONSIN BANKS Bank of Tomahawk among Group Listed as Receiving Money in December. WASHINGTON. March 12 (AP) Wisconsin banks received loans from the Reconstruction Finance Corporaation totaling $607,200 during Dc. cember. according to the figures released by the corporation today. The hanks and loans follow: Bank of Tomahawk (receiver). $70,000. Northwestern State bank, Cumberland. $3,000. Bank of Edgar, $14,200. Commercial National bank of Fond du Lac, (conservator) $250,000. Gateway City bank, La Crosse, (re. ceiver) $60,000. Security Savings bank (receiver) $113,000. Leapolis State bank, $5,000. Bank of Mindora (recelver). $45,000. Onalaska State bank (receiver) $35,000. Rockland State bank (receiver) $12,000.