Boise City National Bank (Boise, ID)

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BANK CLOSES

BOISE, Idaho, Boise National bank. third in size of Boise's three banks today was turned over to the comptroller of the currency for liquidation. Closing of the bank was the first instance of the kind in Boise in 10 years

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Boise Bank Closes.

The Boise City National bank, third in size of Boise three banks, was turned ove the of the for liquidation Closing of the bank was the first stance of the kind in Boise in ten years.

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RECEIVER FOR BANK BEGINS BOISE WORK

J. L. Eckerson of Coeur Alene recently appointed receiver of the Boise City National bank, has started on the task of liquidating affairs of the bank. The receiver has been in Boise several days. Eckerson said Wednesday that he would go over affairs of the concern, study the books, and make thorough survey of the financial situation before he is prepared to make any statements as to future

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BOISE

Eckerson, Receiver, Explains Routine of Taking Over Closed House

Typewriters were clicking and the bookkeeping department humming with activity Tuesday behind closed doors the Boise National bank, where Eckerson, the federal bank receiver, was busily making his check of the bank's status, necessary to determine when much dividend paydepositors. Eckerson large and genial man, treasury department ploye whom the liquidation closed banks old story, and who pride in the record pay-outs has and the large proportions their money he has for depositors.

Make Own Records

Tuesday he took time off from his tasks explain routine necessary really square work. "First," said, have to make all records. We don't take any of the bank's ords our work, the source of information. records every depositor, every saving account, every borhas own particular where keep record of involving the are prepared. he continued, the receiver ready receive the claims of deposiwhen will that he asked. ask he responded going just fast should announce able then there would trouble I'll the depositors know statement the

Hopes for Loan

There disposition on the liquidating agency upset matters liquidation, explained. He refused commit himself the possibility loan from the Finance he intimated obtain such loan, provided the department Such loan would make possible the payment of dividends depositors, without forcing liquidation fast out time. whole problem,' he said, to obtain much money for the depositors fast undue disturbance to normal business

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Boise City National Bank Receives Loan

Reconstruction Finance Corporation authorized loan of $150. 000 to the Boise City National bank's receivers in April, said an announcement here. only other loan reported as made to Idaho institution was of $3,500 to the First National bank of Hagerman. The First National Bank of Lewiston withdrew or cancelled $92.665 the Joan authorized for it.

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BOISE BANK GETS LOAN (P)-The Recon struction Finance corporation authorized of thousand dollars to the Boise City National bank's receivers in April, an announcement Thursday South Africa expects to produce nearly 3,400,000,000 pounds of maize this year

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DEFUNCT BANK HAS PAID

Actual Dividends to Unsecured Deposits Eckerson Reports: Collections Million Dollars

Payment of dividend of $251,to depositors, and of secured claims totaling $372,989, during the months ending July was announced Wednesday by Eckerson, receiver of the Boise City National bank. The receiver now deposit, after these paymade, $42,504.35. The quarterly report was issued showing total collections of from since the bank closed in August, 1932, 11 months ago.

Total Expense $30,714

In that time the total expense the actual working expenses, the heatand upkeep of the bank buildand all the last three months covered by the report the total cost of the $10.00 which $5500 for and upkeep building. receiver collected and interest of which collected during the three months.

Pay Off Loan loan of from the ReFinance corporation paid during the quarter. Collections the receivership last report, March amounted which the payment of stock. There of the stock sessment unpaid. Total uncollected assets of the bank out of total when the bank closed of the bank closed there due secured meaning public deposits. Of total $712,924 has been paid leaving still due this class of deposits.

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Bank Receiver Releases Report On Collections

The Boise City National bank has collected $1,104,783.83 from assets and stock assessments since it closed August 1, 1932, a report Monday by J. L. Eckerson, receiver, revealed. Of this $28,835.64 was collected from stock assessments, out of a total assessment of $375,000.

Uncollected assets remaining are $1,715,288.34.

Secured liabilities paid a total of $722,337.61. The dividend paid to depositors last May amounts to $252,677.16. The RFC loan of $53,000 has been repaid; there has been $46,399.93, including more than $12,000 in taxes and the costs of operation of the building, paid out by the receivership.

Earnings of the receivership, largely from operation of the bank building, are $54,095.17.

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BANK RECEIVER IS PROGRESSING

Collections for Boise City to Date Total $1,395,499, Eckerson Reports

Collections of $1,395,449.63 have been made by the receivership of the Boise City National bank since the institution closed its doors August 1, 1932, the quarterly report of J. L. Eckerson, receiver, made public Saturday, disclosed.

Of these collections, $1,148,101.22 came from assets and the stock assessment. Premiums and rentals have amounted to $60,394.23, and an RFC loan of $186,500 is among the receipts.

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BANK RECEIVER WINS JUDGMENT

Clerk of District Court Must Hand Over Deposit Securities, Cavanah Rules

Stephen Utter, clerk of the Ada county district court, must hand over to J. L. Eckerson, receiver of the Boise City National bank, securities held by him to secure certain deposits made by Utter.

This was decided in a ruling of Judge C. C. Cavanah in federal court filed Saturday.

Utter had deposited $18,968.52 with the bank, representing moneys held by him on behalf of certain litigants in court; alimony money; and fees and costs. He entered into an agreement with the bank whereby the officials posted bonds to secure this deposit. Eckerson maintained the agreement and deposit were illegal.

Judge Cavanah in his decision argued that except for the fees and costs, the money held by the clerk was not public funds; that the law forbade the posting of bonds to secure any put public funds within a certain classification; that, therefore, the agreement was illegal; and that Utter must turn over the securities to Eckerson, except sufficient to cover fees and costs on deposit.

In addition to the principals in the suit several of the litigants whose funds were thus tied up intervened to prevent return of the bonds.

Visitors in Frances from the United States last year totaled 101,200.