First National Bank (Brockport, NY)

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CLOSED BANK REPORT SHOWS $100,976 IN CASH

Receiver of Brockport Institution Voices Satisfaction

Cash on hand amounting to $100,976.46 was reported by Harold Kotta. receiver for First National Bank of Brockport, in his statement of the condition of the bank for the quarter ended June 30, made public The statement. which the receivor said was encouraging. shows collections from assets and stock assessment totaling $851,273.08 Total collections accounted for were $960,365.20. which included an RFC loan of $99,554 Disbursements show $193,199.49 paid secured and preferred liabilities, and dividends to unsecured creditors amounting to $616,861.42 or 46 per cent of deposits. Expense of the conservatorship amounted to $19,374.42 Receivership expense was $7,045.47. which includes $1,123 interest on the RFC loan and $752 for taxes on the bank

The receiver has also paid $21.846.23 to the RFC to be credited against its loan. Total assets of the closed bank accounted for are $1,880,253.04. Total liabilities accounted for are $1,603,236.74 The bank suspended operations on Mar. 5, 1933, and was operated under conservator until Feb. 2. this year, when Mr. Kotta. who was formerly with the State Banking Department, assumed receivership.

He was unable to estimate the amount of liquidation yesterday, explaining that the Spokane plan contract. under which the new Brockport National Bank purchased assets of the closed bank in reorganization, expired yesterday. Until he has report of all assets, he will be unable to give an estimate. he said.

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BANK RECEIVER SEES CHANGES

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per cent dividend to depositors of the Nunda Bank, according to Mr. Kendall. It is impossible to estimate even tentative dates for payment of additional dividends to depositors of the other closed banks, he said. The Arcadia Trust Company and the Gaylord State Bank still have RFC obligations to pay off.

Individual Receivers

Liquidation of closed national banks in this area is not consolidated but is being handled by individual receivers appointed by the Comptroller of Currency. Now being liquidated are the First National Bank of Sodus, the First National Bank of Newark, First National Bank of Brockport, the First National Bank of East Rochester and the First National Bank of Webster.

Edwin M. Nelson as receiver for the First National Bank of Sodus has paid depositors a 12 per cent dividend. Depositors of the First National Bank of Newark have [received a dividend].

Death Claims Julia Carroll

Mrs. Julia Webster Carroll, widow of Clarence T. Carroll who was former head of Rochester public schools, died yesterday (May 11, 1935) at her home in Boscawen, N. H.

Mrs. Carroll was born in Boscawen, Apr. 1, 1853, the daughter of Lucy and Nathaniel Webster and a close relative of Daniel Webster. She lived in Rochester from 1903 to 1911 during her husband's career as superintendent of the city schools.

Since leaving Rochester she has divided her time between her ancestral home in Boscawen where she lived during the summer and with her children in the winter.

Surviving are two daughters, Mrs. Laurence P. Tolman, of Reading, Mass., and Mrs. Almon G. Harris, of Penacook, N. H.; two sons, Carl H. Carroll, of Arlington, Mass., and Harry C. Carroll, of Chicago and 13 grandchildren. Mrs. Harris is the former Margaret E. Carroll, graduate of East High School in the class of 1907.

Funeral service arrangements are not complete. Burial will be in Boscawen, N. H.

Mr. Carroll died in Warner, N. H. in 1912. He was stricken while delivering a commencement address to the graduation class of that high school and died a few minutes later.

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per cent dividend to depositors of the Nunda Bank, according to Mr. Kendall. It is impossible to estimate even tentative dates for payment of additional dividends to depositors of the other closed banks, he said. The Arcadia Trust Company and the Gaylord State Bank still have RFC obligations to pay off.

Individual Receivers

Liquidation of closed national banks in this area is not consolidated but is being handled by individual receivers appointed by the Comptroller of Currency. Now being liquidated are the First National Bank of Sodus, the First National Bank of Newark, First National Bank of Brockport, the First National Bank of East Rochester and the First National Bank of Webster.

Edwin M. Nelson as receiver for the First National Bank of Sodus has paid depositors a 12 per cent dividend. Depositors of the First National Bank of Newark have received a 67 per cent dividend from Receiver Jonas J. Hulse.

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Paid Back 64 Per Cent

The First National Bank of Brockport through its receiver, Harold Kotta, has paid back 64 per cent of its deposits. The last dividend paid was made possible by an RFC loan. Thomas N. Nagle, receiver for the First National Bank of East Rochester, has given depositors a 40 per cent dividend.

The First National Bank of Webster of which Mr. Nagle also is receiver, stands in a class by itself. It is one of 19 national banks throughout the country that have paid depositors 100 per cent of their money. In addition, Mr. Nagle declared he has two legal cases pending and if successful will pay depositors 6 per cent interest on their money.

Only three of the nine village in banking difficulties are without banking facilities. They are East Rochester, Lima and Spencerport. Each has made application to Rochester banks for branches but this action is not regarded as likely in the near future.

Nunda has banking facilities in the Peter Dupuy Banking House, a private bank. Brockport has the Brockport National Bank, which superseded the First National. The Union Trust Company has established branches at Avon, Sodus and Webster. The Lincoln Alliance Bank & Trust Company has established a branch at Newark.

COMEDY IN DUTCH

"Haar Laatste Wil," "Latest Will" to you, a comedy in Dutch will be presented by Hollandio Dramatic Club of Detroit, in the German Club, Gregory Street, Saturday at 8 p. m.

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Paid Back 64 Per Cent

The First National Bank of Brockport through its receiver, Harold Kotta, has paid back 64 per cent of its deposits. The last dividend paid was made possible by an RFC loan. Thomas N. Nagle, receiver for the First National Bank of East Rochester, has given depositors a 40 per cent dividend.

The First National Bank of Webster of which Mr. Nagle also is receiver, stands in a class by itself. It is one of 19 national banks throughout the country that have paid depositors 100 per cent of their money. In addition, Mr. Nagle declared he has two legal cases pending and if successful will pay depositors 6 per cent interest on their money.