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THE BOISE STATE BANK SHUTS DOORS [UNITED PRESS LEASED WIRE.] Boise, Ida., Dec. 19.-The Bolse State Bank was closed today by the state bank examiner. The bank is a small institution, the deposits being less than $150,00. The capital stock is $50,0000. No statement of liabilities has yet been made. Edward Payne is president and chief stock holder. President Payne declares .depositors will be paid in full. The failure caused no runs on the other banks.
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BOISE STATE BANK CLOSES ITS DOORS Financial Circles Shocked by Failure of Institution to Continue Business. CLOSED BY OFFICIALS Clearing House Could Not Come to Aid of Distressed Bank in Time. Special to The Tribune. BOISE, Ida., Dec. 19.-The failure of the Boise State bank here today, which proved a shock to financial circles and caused a sensation, started a miniature stampede among frightened depositors of other banking institutions, which was quickly checked by the announcement of the clearing house that all other state and national banks here have from 35 to 60 per cent of their deposits on hand in actual cash and could pay out within twenty-four hours The Bolse State bank was closed by order of State Bank Commissioner V. W. Platt. It is capitalized for $50,000. which is known to be a total loss by the failure, and at the time of its suspension had about $29,000 in cash or collateral representing cash on hand. and its cash liabilities amounted to $187,000. Between 300 and 400 Individual depositors are financially handicapped by the failure coming at this time of the year. when money was in demand for Christmas. All day long a crowd of anxious depositors hung around the bank's entrance endeavoring to secure Information. Commissioner Platt authorized the statement today that the bank's condition was presented to the clearing house last night in the hope that the combined strength of all the banks might be thrown to its assistance. The clearing house estimated that it could stand for a shrinkage of 30 per cent on the loans and discounts, but not more, which it was believed would have to be discounted in the Boise State bank's paper. Failure on the part of the clearing house to relieve the situation and the fact that the reserve of the Boise State bank had fallen below 15 per cent as required by law forced the commissioner to close the institution. It is now believed depositors may be paid In full. The bank carries $170,000 in loans and discounts, and It is estimated that with a depreciation of 50 per cent in these there will still be sufficient to pay depositors. Edward Payne is president of the defunct institution. Its individual deposits on December 5. when the last statement was given. amounted to $99,275.60.
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BANK FAILS (By United Press Leased Wire.) BOISE, Ida., Dec. 20.-The Boise State bank was closed today by the state bank examiner. The bank is a small institution, the deposits being less than $150,000. The capital stock is $50,000.. No statement of liabilities has yet been made. Edward Payne. is president and chief stockholder. President Payne declares depositors will be paid in full. The failure caused no runs on other banks.
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NEWS AROUND THE STATE s S i Items From Various Places 3Reproduced for the Benefit s of our Readers--Stories Res hashed from Exchanges. e A deer was shot Monday in e the town limits at Kamiah. It was the fifth of its kind seen there within the past two weeks. John S. Roberts, formerly of Lewiston, was arrested late last week at Culdesac on a charge of introducing liquor on the reservation. J. Smith, until recently a salesman for the Lewiston Furniture company, was arrested at that place Saturday on a charge of embezzling $40 of the firm's money. J. B. West, Eugene Gasser and Gus Thiessen returned to Lewiston Tuesday from a hunting trip in the upper Clearwater country and had six deer to show for their efforts. The Boise State Bank, a small institution, closed its doors Monday and is in the hands of the state bank examiner. Its failure was due to loaning too much money on bad secuaity. August Hartman, an I. W. W. adherent, was arrested at Lewiston Saturday for assaulting the chief of the fire department. Hartman was in jail when the assault occurred and was taken to the county jail later. The C. A. Hardin crop of about were at 3,000 purchased sacks of Lewiston club wheat Saturday comcents a pany by the for Vollmer-Clearwater 67 bushel, which was from one to two cents a bushel better than the regular market quotations for that grade of wheat at that point. The Genesee high school basket ball team defeated the Spokane high school team at Genesee on Monday evening by a score of te 24 to 20 in a very fast game. a The Spokane team admitted it had lost to a better team and the victory makes the Genesee team champions of the Palouse country. fu At a meeting of the farmers b of SaturL were day the resolutions Ilo-Vollmer section passed railroad asking the Camas Prairie to B change the name of the station y at Vollmer to "Finch" and pledged themselves to support the new town for the permanent county seat of Lewis county. If the railroad company grants the request the Ilo-Vollmer town fight will probably be wiped out for good. da Roy Thompson, a 17-year old B boy residing at Kamiah, had one h leg badly broken at Winona Sunno day by having his horse fall on w him. The boy was running a th horse race with another boy and ill his unshod pony slipped on the as frozen ground and slid for quite de la distance, catching the rider an with the above result. Young Thompson was taken to his home wi at Kamiah for repairs, arriving he there about midnight. de Wa U.S.G. Evans, charged with ch falsifying the records of the an Farmers Bank & Trust Co. of Kendrick while serving the compal pany in the capacity of secretaryaf treasurer, was acquitted by a Re jury in the district court at Moschi cow Saturday on the first ballot. In As there are twelve other counts tes against Evans and he is to be tried on all of them the th above decision is by no-means a be conclusive one. Evans was bonded for $10,000. which sum was
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boise State Bank Closes Its Doors. Boise, Dec. 19-The Boise State bank closed its doors and suspended business on the notice of State Bank Commissioner V. W. Platt today. Financial difficulties which have been pending for a month and which pressed the institution hard are said to have been the cause of the faiture. From the best information obtainable the affairs of the bank are in such condition that the depositors do not stand to lose their funds, but will probably be paid within thirty days. The Boise Clearing House held a meeting into the late hours of last night in an attempt to save the institution, but failed, due as no medium could be provided to prevent the closing of the bank's doors. Commissioner Platt is in complete charge of the institution and following a careful inspection of the bank's books will give out a statement of the actual conditions.
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IDAHO BANK CLOSES DOORS Miniature Stampede of Depositors at Boise Started by Failure of the Boise State Bank. Boise, Idaho.-The failure of the Boise State bank on Tuesday, which proved a shock to financial circles and caused a sensation, started a minia ture stampede among frightened depositors of other banking institutions, which was quickly checked by the announcement of the clearing house that all other state and national banks here have from 35 to 60 per cent of their deposits on hand in actual cash and could pay out within twenty-four hours. The Boise State bank was closed by order of State Bank Commissioner V. W. Platt. It is capitalized for $50, 000, which is known to be a total loss by the failure, and at the time of its suspension had about $29,000 in cash or collateral representing cash on hand, and its cash liabilities amount. ed to $187,000. Between 300 and 400 individual depositors are financially handicapped by the failure coming at this time of the year, when money was in demand for Christmas. All day long a crowd of anxious depositors hung around the bank's entrance en deavoring to secure information.
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REPORT IS SIGNED BY INDICTED MAN Depositors of Defunct Boise Bank Angry Over Latest Development. Special to The Tribune. BOISE, Ida., April 17.-Indignant depositors of the defunct Boise State bank are angry over what they claim is the common. indefinite, enigmatical bank statement filed by State Bank Commissioner V. W. Platt with Judge Carl A. Davis of the district court here and upon his specific order, as well as incensed over the discovery that the report was compiled and Is signed by William O. Pierce, as deputy state bank commissioner and receiver, for Pierce is under indictment in connection with alleged 11legal conduct while receiver of the State Bank of Commerce of Wallace, soon after the doors of that institution closed. The depositors claim they have gained little If anything from the report and are demanding the facts in detail. Many of them assert that the court should have gone farther than demand the statement and request that the facts of the failure be placed with the judge so that he can decide whether or not a grand jury should make an investigation to place criminal libel, if any. Soon after he was indicted Pierce, at the request of Gov. James H. Hawley, resigned as deputy state bank commissioner. He is charged in this indictment with issuing his own check and paying it out of the funds of the defunct Wallace State Bank of Commerce. Pierce will to trial on ably be brought this charge. probIt is said to be a clear violation of the and if he is will banking be severely law dealt found guilty with. Since resignIng he has been employed with the state bank commissioner's department When the Bolse State bank falled was Commissioner Platt appointed State receiv- Bank er and employed Pierce to make an inspection of the books. He is now acting in that capacity. Commissioner Platt has issued a statement In which he asserts that Plerce is not a deputy commissioner or is he deputy receiver of the Boise State bank. but instead has only been acting as clerk work on the any performing other the books that expert might have to do He adds that the affairs of the closed up just as as stitution possible, will but be does defunct quickly Innot hold out hope to the depositors for more than 50 cents on the dollar.
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NEWS NOTES OF IDAHO The large packing house of the Lew iston Orchards' association will be completed at Lewiston this week. The summer season is on at Spirit lake and all those owning homes are either located or are having their homes put into shape for the season. Philip Dwyer, charged with selling intoxicating liquor to a Nes Perce Indian, was bound over by Commissioner E. O'Neill at Lewiston to appear before the federal court. The Payette valley represents at the present time one of the finest looking and most promising fruit sections in Idaho and a total of 100 cars of peaches will be shipped from that section alone this fall. Traffic was held up on the Grangeville-Lewiston line for several days, owing to the blockade of the tunnel near Grangeville. It was necessary to transfer the passengers and mail from one train to another across the mountain nearly half a mile. William Gray, 50 years old, a resident of Coeur d'Alene, lost his life in Coeur d'Alene lake. Gray was cross ing the lake to Squaw bay in a small boat when the wind blew his hat off. In an effort to get his hat he fell from the boat and was drowned. Genesee and the Palouse country was visited Thursday evening and night by the heaviest wind in twenty years, according to old inhabitants. ***** #1 # 'pujm our jo The mated, was between fifty and sixty miles an hour, with a possible maximiller. JO unus After being lost for over five months the body of Otto Mayer was found near Atlanta. Mayer was a mail carirer and was caught 12. Arenuer *Hile MOUS " up That he lived some time after being caught, was evidenced by the fact that his hair had turned white. He was 21 years old. A valuable booklet, styled a pocket bulletin, which fairly bristles with statistics, comment and comparisons of great benefit to the orchardist, has been issued from the state horticultural department. Features of special interest in the booklet are the spray calendar, an interesting article on insects, diseases and formulas, and in structive suggestions as to the care orchards. Bunox 10 Approximately only 3,000,000 pounds of wool of this year's clip remains un sold in western Idaho, according to re ports, made by several of the woo! buyers who have been in attendance at all the sales. The buyers are well pleased with the amount of wool they have purchased and the general con dition of the crop this year has been good. Within the next few weeks it is believed the entire wool clip will have been sold. When the big dome on the new state capitol building is completed it will contain 200,000 pounds of steel, 130,000 pounds of terra cotta, 290,000 of con crete, 125,000 pounds of stone and 60, 000 pounds of plaster and ceiling, mak ing a total of 805,000 pounds, while, from the ground to the top of the cone cap on the dome which will be decor ated by an eagle, the capitol will proudly stand 200 feet high, a massive pile of granite, stone, steel, concrete and marble. Asking judgment in the sum of $25, 935.79, or for the recovery of nine promissory notes aggregating that amount, V. W. Platt, state bank com missioner, has brought suit in the district court against the Globe Surety company of Kansas City, Mo. This action, which is instituted by Mr. Platt in his capacity of receiver of the defunct Boise State bank, is regarded as one of the most important cases filed in the courts since the suspension of business by that Institution. Suit filed in the United States court by Attorney Myron E. Folsom, representing the Bunker Hill & Sullivan company, throws the ownership of the $2,000,000 shoot of ore opened by the Caledonia Mining company into litiga tion, and starts another of the titanic legal struggles that have been waged over the law of the apex in the courts
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organized to provide practical industrial and agricultural training for those unable to take regular college courses. The instruction is given by the regular faculty of the college of agriculture. The students use the university's equipment and come in touch with its broadening helpful influences. Asserting that they were maliciously discharged from the faculty of the University of Idaho at Moscow by M. E. Lewis, who was at that time president of the board of regents of the university, R. E. Hyslop, a professor of agronomy, and J. R. Shinn, an instructor in horticulture, have instituted proceedings in the supreme court against the board of regents and the state. Hyslop asks for a recommendatory judgment against the state in the sum of $1416.66 and Shinn wants a $1500 judgment. "The water supply throughout southern Idaho during the late summer months of the irrigation seasou has been far above the normal," said Don H. Bark, United States irrigation engineer. "Few instances of any shortage have been reported. Enormous crops are being reported from all sections of the state. Many canals are usually short of water during August, 'but this was not the case this year, due to the late run of the streams." Eugene B. Bayne, J. W. Keeffe, J W. Mchargue and Fred Rhodes were arrested at Boise last Saturday by deputies from the sheriff's office upon bench warrants issued by the district court following the return of indictments by the Ada county grand jury. Payne, Keeffe and Mchargue were indicted for making false reports con cerning the affairs and financial condition of the Boise State bank, which closed its doors by order of the state bank commissioner last December. Addressing an audience at Caldwell, Sept. 26, G. H. Martin, Progressive candidate for Governor, opened the Progressive state campaign by bitterly attacking Governor Hawley's administration: condemning the action of the Chicago convention in nominating William Howard Taft, and promising the people relief from all existing evils if his party should be placed in power. Mr. Martin was particularly severe in bis arraignment of Governor Hawley. He declared that the governor was a willing tool of the liquor, railroad and timber interests, and that the people were not receiving a square deal under his administration.
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DEPOSITORS OF BOISE STATE BANK TO MEET The depositors of the Bolse State bank will have a meeting next Monday night in the bank room to go over the affairs of the institution, investigate the conditions that have arisen, and to discuss matters that will be of general interest to all of the bank's creditors. Every depositor and stockholder is interested in the outcome of the cases now pending in the district court against the officers of the institution. The present financial standing of the bank and the prospects of paying the depositors back the money that was placed in trust there will be some of the matters that are to be discussed. The affairs of the institution probably cannot be definitely settled until after the cases now pending in court have been determined. V. W. Platt, as receiver of the bank, has brought several actions against persons indebted to the bank, while the grand jury has returned indictments against the officers of the bank.
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THE BOISE STATE BANK INDIGNANT Will Ask Court to Remove State Bank Examiner as Receiver and Appoint Another in Place. Demands for the immediate dismissal of V. W. Platt, the state bank examiner, as receiver of the Boise State bank and the appointment of M. P. Meholin, vice president of the Pacific National bank, in his place, was made by practically all present at a meeting of the depositors of the defunct bank held last night in the Yates building. Charges of "rotten politics in the administration of the business affairs of the bank" were made by several of the depositors and demands for the appointment of some one who is "not engulfed in the waters of politics but who knows how to run a bank" were repeated through the excited session of the depositors. "If they knew anything about business they would not be in politics," declared several of the leaders of the meeting. "We have been robbed of our money and we want somebody in charge of the bank's affairs who will handle its business in a business way. We want those notes collected. We want to know what good paper there is in this bank and what paper we have here that cannot be collected. We want to know everything and anything about the administration of the bank's affairs that will show us when the depositors can expect to get some of their money back from this institution. We want somebody in charge who will not discriminate but will collect. Any politician will press some men for collection and will let others go. We want the money on every note that is outstanding, for this bank does not hold any paper that carries more than a 12-month period before collection." The depositors were indignant at the delay. They say that the state bank examiner is hiding behind the statute that does not require him to publish the names of the holders of the paper of a defunct bank and that he refuses to let them know just what good paper there is on hand and what paper is worthless. "If you will show me what paper we have in this bank that can be collected, I will see that it is all taken up and that the depositors can have their money within the next 30 days," declared Moses Alexander. The depositors committee was instructed to ask the court, Judge Davis, for the dismissal of the present receiver and, the appointment of another, preferably M. P. Meholin. The legislature will probably be called upon to correct the law that does not require the publication of the notes and that enables the state bank examiner to keep the depositors in the dark as to the real value of the paper in their bank. Captain Yates will probably head such a delegation before the banking committee when the legislature meets next January and will present to it the facts that have arisen in connection with the working of the receivership of the Boise State bank. The state bank examiner was vilified as a "politician with a lot of political pull" and the methods by which the bank was being conducted were denounced as "rotten politics" several times through the course of the heated session of the depositors. Some of the depositors want the names of every holder of naner published in the papers
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DEPOSITORS OF THE BOISE STATE BANK INDIGNANT Will Ask Court to Remove State Bank Examiner as Receiver and Appoint Another in Place. (Capital News) Demands of the immediate dismissal of V. W. Platt, the state bank examiner, as receiver of the Boice State bank and the appointment of M. ] Meholin, vice president of the Pacific National bank, in his place, was made by practically all present at a meet ing of the depositors of the defunct bank held last night in the Yates build ing. Charges of "rotten politics in the administration of the business affairs of the bank" were made by several of the depositors and demands for the appointment of some one who is "not engulfed in the waters of politics but who knows how to run a bank" were repeated through the excited session of the depositors. "If they knew anything about business they would not be in politics," declared several of the leaders of the meeting. "We have been robbed of our money and we want somebody in charge of the bank's affairs who will handle its business in a business way. We want those notes collected. We want to know what good paper there is in this bank and what paper we have here that cannot be collected We want ta know everything and anything about the administration of the bank's affairs that will show us when the depositors can expect to get some of their money back from the institution. We want somebody in charge who will not discriminate but will collect. Any politician will press some men for collection and will let others go. We want the money on every not that is outstanding, for this bank does not hold any paper that carrios more than a 12-month period before collection."
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The depositors were indignant at the delay, They say that the state bank examiner is hiding behind the statute that does not require him to publish the names of the holders of the paper of a defunct bank and that he refuse to let them know just what good paper there is on hand and what paper is worthless. "If you will show me what paper we have in this bank that can be collected I will see that it is all taken up and that the depositors can have their money within the next 30 days," declared Moses Alexander. The depositors' committee was instructed to ask the court, Judge Davis, for the dismissal of the present receiver and the appointment of another, pre ferably M. P. Meholin. The legislature will probably be called upon to correct the law that does not require the publication of the notes and that enables the state bank examiner to keep the depositors in the dark as to the real value of the paper in their bank. Captain Yates will probably head such a delegation before the banking committee when the legis'ature meets next January/and will present to it the fact that have arisen in connection with the working of the receivership of the Boise State bank. The state bank examiner was vilified as a "politician with a lot of political pull'' and the methods by which the bank was being conducted were denounced as "rotten politics" several times through the course of the heated session of the depositors. Some of the depositors want the names of every holder of paper published in the paper of the city and believe that such a step would bring in the money more readily than any other method that could be suggested. The standing committee consisting of Moses Alexander, John E. Yates, A. W. Wicher, A. B. Crooks and C. K. Clark. was instructed to determine whether or not the receiver could be dismissed and another appointed and to make preparations for the d'scovery of the value of the bank's paper. The committee will also lay plans for ti alteration of state law at next session of the legislature so as to require the state bank examiner to furnish information to the depositors that has been denied to those of the : Boise State as they claim. Clarence Van Deusen, who said he : represented two depositors, declared that the bank held two notes from O. ( I V. Allen, state treasurer, totaling $12,: 500, at least one of which bears the signature of Governor James H. Hawley, and charged that this was the rea son secrecy was being maintained. Mr. Allen made an emphatic denial of this statement today.
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MUST COLLECT TAXES FROM BANK ITSELF The county must collect dellnquent taxes from the stockholders of the Boise State bank rather than from the bank itself. This decision was handed down by Judge Carl A. Davis in the suit of Herbert A. Ellsworth, county assessor, against V. W. Platt, receiver. The court allowed the taxes of the county against the real estate of the bank but refused the collection on the capital stock of the institution. The bank claimed that it was insolvent and that there had been during the year 1911 no undivided profits or surplus in its treasury from which to pay the taxes. It contended that the county should sue the individual members of the corporation for the taxes due upon the stock itself. Taxes on the real estate amounting to $95.99 were allowed and those upon the stock amounting to $1188.25 refused by the court.
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STATE AND COUNTY NEWS Items of Interest Gathered From Exchanges. OF INTEREST TO IDAHOANS. Events and Industrial Progress Of the Week. A clear list for indemnity school lands amounting to about 6000 acres been received state land from has just department by Washington, the D.C. The lands were filed on in the Hailey land district. the justice court of Bonners two men are to be for Ferry In critisizing cited contempt of court for a decision of the court as being "crooked" and that it was impossible to "get a square deal" from the court. D. Taylor, whose term as state Jan. 6, has the Tribune, one auditor, S. Caldwell expired purchased of the of county. was formerly of leading Mr. Taylor newspapers Canyon proprietor the Herald at Bonners Ferry. The grand total valuation of all property in Idaho for assessment purposes for the year 1912, as fixed by the state board of equalization is $418,780,390.30, forty per cent of which is $167,512,157.71. The state general tax levy is $720,283.70, besides the special levies. the high school worth while?' was Dr. "Is answered by Edward Elliott a of the University of Wisconsin, in strong address before the State Teachers' association at Boise, Jan. 3. He believes that a high school that is worth while will make life worth while for its pupils in school and later in life. A convention of the state league of commercial clubs of Idaho has been called at Boise to consider questions coming before the legislature. It is claimed the legislature will be asked to appropriate not less than $150,000 for the San Francisco exposition and $10,000 for the Columbia-Celilo-Panama waterways celebration. Under a ruling made by Judge Davis in the suit of Herbert A. Ellsworth, county assessor of Ada county against V. W. Platt, receiver, the cannot collect taxes upon the stock of the capital county defunct ruled that Boise State bank. The court all delinquent taxes must be collected from shareholders of the bank. W. N. Gemmill, judge of the court of domestic relations in Chicago, is anxious to know what provisions Idaho has for taking care of wives and children of incarcerated prisoners. received by from the In ley a letter Chicago Governor judge, Haw- the that are for some legislation anxious writer says people there requiring in that money earned by prisoners jail be set aside for their families' use. In order to make the teachers' profession a more stable one and increase the percentage of those who are en in that work be gaged salaries of should opinion raised, was the concensus of the which of association, the members held State its Teachers' closing session at Boise Jan. 4. At present the average age of school teachers is but 24 years and the average length of service is four years. Governor Hawley is among those who have been invited to attend the banquet which will be given in New York City, March 27, in honor of the completion of that city's highest sky This is the 55 stories high, scraper. building, the Woolworth highest in the world. President Taft, Vicepresident-elect Marshall and other officials are among those who will attend. Official announcement was made at Nampa. Dec. 31, of the sale of the Idaho Northern railroad, commonly known as the Dewey road, to the Oregon Short Line Railroad company. The deed for the transaction bas been executed and the formal transfer of the property took place January 6. After that date the Idaho Northero
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WILL EXAMINE RECORDS. Court Appoints New Receiver for Defunct Bolse Bank. Special to The Tribune. BOISE, Feb. 8.-The removal of State Bank Commissioner V. W. Platt as receiver of the defunct Boise State bank was the important development today in the trial of Edward and Eugene Payne, president and cashier, respectively, of the bank, charged with falsifying the records. Judge Carl A. Davis today 19sued- the order that made Ben Q. Pettingill receiver of the bank after 9 o'clock Monday morning, and relieved the present receiver of his duties in handling the property of the defunct institution. While the law prevents the bank commissioner from making a. report of the conditions of any institution in the state, a district judge may require the receiver of the institution to report each and every asset and debt that the bank has. Judge Davis has made the order and the full report, showing every good and every bad note in the place, will hereafter be part of the records of the district court in this county.
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STATE AND COUNTY NEWS Items of Interest Gathered From Exchanges. OF INTEREST TO IDAHOANS. Events and Industrial Progress Of the Week. The steel bridge across the St. Maries river near St. Maries IS nearly completed. It cost $18,000, half of which sum was appropriated by the county and the rest by the state legisture of 1911. The omnibus public building bill reported to the lower house of congress last Saturday carries $85,000 for erecting a public building at Twin Falls and $70,000 for a building and site at Sandpoint. House robbers at St. Maries last Saturday ransacked one house where the family was away, but were frightened off when attempting to enter a second house, leaving behind the plunder they had taken from the first. The University of Idaho is to take an important part in stamping out the hog cholera 10 the southern part of the state. The manufacture of hog serum is to be at undertaken bacteriology once by the veterinary, and animal husbandry departments. A fusilade of bullets fired by police in in chase an Spokane of alleged highwayman, last Sunday morning, caused the death of Gustav Froistad of Laclede, Idaho. Though two was in head a died blocks the away, by Froistad stray bullet struck and in the hospital a few hours later. Because of the enthusiasm of the specially trained teachers of Ada county, the rural schools are going to the schools a run their in give position city vocational close training. for no with but With nothing almost enthusiasm equipment, for their work and a like enthusiasm for study in their pupils. the rural schools are said to be learning cooking, sewing, manual training and agriculture. The Boise State bank, it is said, will not over 25 cent pay per to the when its affairs are wound settled. depositors up and State Banking Commissioner Platt turned over to Re. ceiver Pettingill $22,500. The deposits of the bank at the time it was closed amounted to about $140,000. It is not thought that the notes held by bank will the bring much to the depositors, and it is not thought that more than 25 per cent of this amount can be collected. Accused of being overzealous in his enforcement of the law, M. S. Parker has been asked to resign as a deputy under State Pure Food Inspector James H, Wallis. It is claimed Mr. Parker prosecuted too many cases violation of law was one wherein merely technical, the instance being was sellthat was where ing machinery a merchant fined not for labeled with his name and address as required by law. Miss Jessie Hoover, professor of home economics in the state univeris enthusiastic the women's the sity, proposed building concerning at Moscow school. She is delivering a series of lectures to the women of Boise and vicinity upon home economics and sbowing how the high cost of living bugbear may be successfully killed off if the housewife would only use reason when making her purchases from the butcher, the baker and the candlestick maker. If the legislature should see fit to grant an appropria tion for the building she has several ideas in mind toward developing the best cooks in the world in Idaho.
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GET ONLY 10 PER CENT. Little Money Left After Failure of Bolse State Bank. Special to The Tribune. BOISE, March 6.-The several thousand depositors of the Boise State bank, which failed two years ago, will receive but 10 cents on the dollar, owing to the unfortunate condition in which the assets of the bank were when It went to the wall. Its president, Edward Payne, is now serving an indeterminate sentence at the Idaho state penitentiary, having been found guilty of fraud by the district court. Ben Pettengill, receiver of the bank, filed his report today with the district court. In it he shows that the depositors can only be paid 10 cents on the dollar. The total liabilities of the bank, the report states, amount to $149,018.66.
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DEPOSITORS WIN O. W. Allen, whose name headed an alphabetically arranged list, and 218 other depositors of the defunct Boise State bank, whose funds were deposited between the date the bank was examined by the state examiner, October 25-27, 1911, and the date the institution was closel, December 19, 1911, will recover $30,240.98 on the bond of V. W. Platt, former state bank examiner, as the result of an opinion handed down Saturday by the supreme court. The court affirmed a decision by Judge McCarthy of the Third Judicial district, Ada county. The suit was brought by the state against Platt and the Title Guaranty & Surety company of Scranton, Pa., on behalf of all depositors who had placed money in the bank subsequent to Platt's last examination. A judgment was obtained in the district court, and the bonding company appealed. Diversity of citizenship was one of the assignments of error advanced. The supreme court held that, as none of the depositors for whom the suit was brought had a balance of more than three thousand dollars, the case was not one that should go to the United States court. The court also ruled on the question of interest the depositors were entitled to receive, and held that in the absence of a stipulation in the bond to the contrary, interest should begin to accumulate against the bonding company at the same time as against the principal obligator. Interest was therefore allowed to run from the date the bank's doors were closed. The judgment of the trial court was affirmed in every particalar. The opinion was written by Justice Morgan. His decision aws concurred in by Justice Budge.