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DEEDS Furnished by Johnson County Abstract company and Security Abstract company. L. A. Andrew, Receiver Johnson County Savings bank to Wm. H. & Mildred Deed Dated 5-28-32 Filed 6-16-32. 80x150 feet in Block 7, Mauville Addition, Iowa City,
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Loan $251,000 Grant to Speed Funds to Depositors. (Continued From Page 1.) of effort on Mr. Andrew's part to work out plan whereby money could be released to the banks through loans to pay dividends. Won in Test Suit. A test suit at Sioux City, brought in the case of the First Trust and Savings bank resulted victory for Mr. Andrew. On appeal to the state supreme court, the lower court was sustained by divided opinion. In October the supreme court filed supplementary decree in which majority of the justices sanctioned Mr. Andrew's authority to obtain the loans. Had Plans Drawn Ahead. Assistant Attorney General Wisdom said he made arrangements with the Chicago, Ill., office of the R. in regard to the manner in which the loans were to be obtained. The procedure agreed upon was for the banking to present the assets of each closed bank to the for deteras to how much money the R. would lend on them. After the amount of the loan was determined, an approval of the loan was to be obtained from the district courts in the counties in which the banks were located. Misunderstanding Reported. Through of the agreement, Mr. Wisdom said, the three Iowa City banks went ahead and obtained approval of loans sought in their cases from the Johnson courts, before the assets of the banks had been to the R. result of the action at Iowa City, the banks there will be some time in advance of the other three banks outside of Johnson county affected by Monday's ruling, because court action approving their loans has not yet been started, Wisdom stated Plan Immediate Action. The necessary approval of the courts will be sought immediately in the cases of the three banks outside of Johnson county, Mr. stated. Under the law, Mr. Wisdom said, that hearing be held before the court can approve the loans. Notice of the hearing is set by the judge, generally 10 days from the time the accordto Mr. Wisdom He estimated ing that the court procedure in the three cases would be completed that the money could reach depositors in January. Method of Repayment. The money obtained from the will be used by Mr. Andrew to augment money already available from liquidation of the banks' assets. Without the loans, however, the 10 per cent dividends at this time would have been impossible, was said In accordance with arrange ments with the R. Mr. Andrew will repay the corporation as fast as the assets of the different banks are liquidated The liquidation will continue under the direction of the banking superintendent rather than the C., but the corporation retain first claim on the assets until the full amount of the loans has been repaid. Deposits the six banks affected by Monday's R. grants total the Johnson County Savings bank alone hay. had deposits of $2,356,976.43. New gift opportunities are daily added to the list of Helpful Suggestions in the Christmas Gift guide in the Want Ads.
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F. C. LOANS APPROVED FOR THREE BANKS Expect Funds Will Be Available to Pay Out Cash in January to and Loans to approved Loans to Local Banks The of made to the lowa City banks follows Johnson Savings City Savings and the Citizens and Trust company The R. has approved for for payment of dende in banks early in Janu ary, this fund to be matched by like of the banks liquid as The three other loans made to are Farmers Savings bank Meservey Commer dal State bank of Independence $40,000 and the Farmers Savings With the aid of the R. loans. the disbursement of more than in the form of per cent dividends from the three closed banks will be made early in Jan has been This money. plus the $75,000 dividend of the Farmers Loan and Trust com pany Wednesday will bring the to tal near the half million mark The dividends will represent the third 10 per cent from the Johnson County Savings bank. the second from the Citizens Savings and Trust company and the first 10 per cent disbursement from the lowa City Savings hank Thirteen thousand one depositors will bene fit by the coming dividends from the four local banks Necotiations for the loan from the Finance corpor ation have been carried on by Mr Summerwill for the last five weeks The application was approved at the Des Moines and Chicago offices and then forwarded to Washington for final approval. made Monday what advance of the three other banks in the state loans. in the matter of receiving the monannounced by Asst Atty Gen Earl Wisdom legal adviser to Mr L Andrew superintendent of banking due misunderstand ing The approval of the loans sought from the R. F. C. for the three lows City banks ed in the Johnson county district court before the assets of the banks had been submitted to the R. Court actions approving the loans made to the three other Iowa banks have not yet been started
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HOUSE RECEIVES FULL REPORT OF LOANS BY R. C. (Continued From Page One) tion had assets of $1,725,000,000 and a cash balance of $7,927,000. December Loans The December loan authorizations allocations included: $80,193,000 financial institutions and railroads, for the state relief, selfliquidating projects, for facilitating agricultural exports, $11,000,000 secretary agriculture for loans advanced farmers, for capital in agricultural credit corporations and an subscription to home loan bank stocks. The that prevailing low money rates had, in creased its rates one-half per cent. This report that total loans for the month were 738 and applications from financial railroads were 756. In November, 584 loans approved financial institutions and railroads filed 576 applications. Iowa Loans During December Loans authorized during December to banks in this section of Iowa follow: Clinton, City National Bank of Clinton, $111,000. Clinton, Clinton Savings bank, $150,000. Davenport, Union Savings Bank & Trust Co. of Davenport, $5,917,700. Iowa City, Iowa City Savings bank, (receiver) $35,000. Iowa City, Johnson County Savings bank, (receiver) $140,000 Keota, Security State bank, Lone Tree, Lone Tree Savings bank, $14,000. Maquoketa, the First National Bank of Maquoketa, (receiver) West Branch, Citizens Savings bank, $9,000.
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Early Are Announced (Continued From 1.) the First Central Trust company of Ohio, 000: Union Guardian Trust Detroit, and the Union Trust of Railroad Borrowings. Railroads likewise were being told they could borrow $224,147,000. Of this, was allowed the Baltimore and Ohio, and went to the PennOther 000 of amounts down few thousand dollars authorized from coast to coast. Along with this special report, the corporation submitted the monthly statement on its December activities. Loans approved and money allocated in that month totalled This latter analysis that the end the year the corporation assets and cash balance of $7,927,000. December Authorizations. The December loan authorizations or allocations included: $80,for financial institutions and $35,837,000 for state relief. for self-liquidating projects, for facilitating agricultural exports, to the secretary of ag. riculture for loans and advanced to farmers for capital in agricultural credit corporations and subscription to home loan bank stock. The corporation that prevailing low money rates it had, in December. decreased its interest rates onehalf per cent. Iowa Loans in December. R. loans authorized during December to Iowa institutions folBenton County State $17,000. Boone, Security Savings $75,000. Boxholm. Farmers State bank (receiver), $7,000. Carpenter, Carpenter Savings Clinton, City National bank of Clinton, $111,000. Clinton, Clinton Savings bank $150,000. Council Bluffs, State Savings bank, $98,000. Davenport, Union Savings Bank and Trust company Davenport Des Moines, Home Savings bank, $1,000. Farmers Trust and Savings Eldora, Citizens Savings bank $8,000. Exira, Exchange State bank, Gray, Farmers Savings bank Hampton, Franklin State bank, $20,000. Hartwick. The State bank. $11,000. Independence, Commercial State bank (receiver), $40,000. Indianola, The First National bank of Indiacola (receiver), $75.Iowa City, Iowa City Savings bank (receiver), $35,000. Iowa City, Johnson County Sav. ings bank (receiver), $140,000. Iowa Falls, The State National bank of Iowa Falls (receiver). $35,500. Joice, Farmers Trust and Savings bank, $13,000. Keota, Security State $13,000. The First National bank of LeMars, Lohrville Savings bank, $14,000. Lone Tree, Lone Tree Savings bank, Maquoketa, The First National bank of Maquoketa (receiver), Meservey, Farmers Savings bank (receiver), $9,500. Mitchell, Mitchell Savings bank Farmers Trust and Savings bank, $2,500. Oskalooss, The Oskaloosa Na. tional bank (receiver, $142,000. Randolph, Randolph State bank $3,814. Reinbeck, First Savings bank of Reinbeck, $7,000. Sac City, Citizens Savings bank $41,000. Sheffield, The First National
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R.F.C.LOANS IN DECEMBER Six Million Granted to Davenport Bank Last Month WASHINGTON -(AP)- Reconstruction finance loans made to Iowa institutions during December Blairstown. Benton County State Boone Security Savings bank Boxholm Farmers State bank Carpenter Carpenter Savings bank. Clinton. City National bank of Clinton, Clinton Savings bank. Council Bluffs State Savings Davenport. Union Savings Bank and Trust company of Davenport. Des Moines. Home Savings bank, Earling Farmers Trust and Sav ings bank. $15,000 Eldora. Citizens Savings bank Exira. Exchange State bank. $15. 500 Gray. Farmers Savings bank $6,000. Hampton. Franklin County State bank. Hartwick. The Hartwick State Independence Commercial State bank (receiver) $40,000. Indianola. The First National bank of Indianola (receiver) $75.000. Iowa City, Iowa City Savings bank (receiver) $35,000. Iowa City, Johnson County Sav ings bank (receiver) $140,000 Iowa Falls, The State National bank of Iowa Falls (receiver) $35,500. Joice, Farmers Trust and Sar ings bank $13,000 Keota. Security State bank $13. 000. Le Mars, The First National bank of Le Mars. $100,000. Lohrville. Lohrville Savings bank $14,000. Lone Tree Lone Tree Savings Maquoketa, The First National bank of Maquoketa (receiver) $84.500 Meservey. Farmers Savings bank (receiver) $9,500. Mitchell. Mitchell Savings bank, Nevada. Farmers Trust and Sav ings bank. $2,500. Oskaloosa. The Oskaloosa NaRandolph Randolph State bank. Reinbeck First Savings bank of Sac City, Citizens Savings bank Sheffield. The First National bank of Sheffield (receiver). $77.- Sheldon Security State bank, $25,000. Sloan, Sloan State bank $32,000. Stanhope, Farmers State bank, West Branch. Citizens Savings bank. $9,000. Winterset. Madison County Sav ings bank. $72,000. Davenport, Register Life Insur Des Moines, Inter-State Businses Men's Accident company $76.000. Des Moines, Iowa National Fire De Witt. Iowa Mutual Insurance Dallas Center. Bankers Livestock Agricultural Credit corporation. Sioux City, Regional Agricultural Credit corporation of Stoux City,
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Iowa City, the University Charles Raiford, of department, will chemistry deliver the last series of free chemlectures tomorrow night the chemistry building "Persistent He will speak organic chemistry." William Hart, First National for the began his new duties bank the filing of his yesterday number entry appearance cases district bank receiver He Dunlop court. Iowa City and Spangler Rapids legal counsel for Cedar the closed bank. petition, seeking $152 ment for alleged chiropractic treatbeen filed in district ments, has here by Limoseth Orr and Peterson. Members the Fidelity society of the First Christian church hold picnic the Sunier farm on the Solon road Sunday Miss Helen lead an open air wor discussion meeting at o'clock. is made of the marriage Miss Regina Kinney, daughter Mr. and Mrs. Ed Iowa City, to Dale Michel of son Mr. and Mrs. Adam Michel Hills, at the St. church here Thursday morning. The Rev. Father Clems performed the ceremony. Miss Mary Brecht Iowa City become the bride of Collins August 22, an nounced today Mrs. Albert Tesar, 501 First acted hostess to the Iowa City Modern Eight bridge club home afternoon. High honors went Mrs. Glen Hawthorne, while Miss Esther consolation. Announcement made of approaching marriage of Miss Grace daughter Mrs. Ettinger, 328 Fairchild street, Charles Coughlan. Iowa delegates been chosen by local attend the state convention Mar They Misses Matilda and Lillian Adams, Mrs. Emerson Hoopes, Custer, and Meardon. Four fined $5 costs for they peared before Judge Harold Thursday. They George Lentz Cedar Rapids, Van Hettinga and Miss Mary Judge Harold Evans has nied the $177 claim Miss Pazour, against the Ann Freeman Mae Freeexecutrix. Russell Miss Pazour, while Messer represented the The petition of George Falk, guardian John and Robert minors, seeking preferred claim of in ceivership the Johnson County Savings bank has denied Harold