3922. First National Bank (Burley, ID)

View Charter #10341 on SPMC

Bank Information

Episode Type
Suspension → Closure
Bank Type
national
Bank ID
10341
Charter Number
10341
Start Date
November 19, 1921
Location
Burley, Idaho (42.536, -113.793)

Metadata

Model
gpt-5-mini
Short Digest
306130c6

Response Measures

None

Receivership Details

Depositor recovery rate
6.0%
Date receivership started
1921-11-30
Date receivership terminated
1927-04-25
OCC cause of failure
Economic conditions
Share of assets assessed as good
44.5%
Share of assets assessed as doubtful
37.7%
Share of assets assessed as worthless
17.9%

Description

First National Bank of Burley failed to open in November 1921, was taken into custody of national bank examiner/placed in receivership and did not resume operations. Cause appears to be insufficient/liquidation of assets exacerbated by poor crop receipts; examiners rejected some paper. No contemporaneous run on this specific bank is described (article mentions past runs in spring that were withstood). Receiver and subsequent liquidation/actions continue through 1924-1926.

Events (5)
1. March 6, 1913 Chartered
Source
historical_nic
2. November 19, 1921 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Unsatisfactory liquidation and insufficiency of assets; examiners rejected some paper and demanded further security; crop receipts were much smaller than expected, leaving insufficient liquid funds.
Newspaper Excerpt
The First National Bank of Burley failed to open its doors for business Monday morning and is now in the hands of the national banking department with L. M. Sawyer Jr., national bank examiner, in charge.
Source
newspapers
3. November 24, 1921 Receivership
Newspaper Excerpt
is now in the hands of the national banking department with L. M. Sawyer Jr., national bank examiner, in charge. ... the board of directors at a meeting which was held Sunday decided to close the bank rather than jeopardize the interests of the depositors unnecessarily by having recourse to temporary remedies. C. A. Robinson, receiver of the First National Bank, ... was appointed later (receiver).
Source
newspapers
4. November 30, 1921 Receivership
Source
historical_nic
5. November 7, 1924 Other
Newspaper Excerpt
C. A. Robinson, Receiver of the First National Bank of Burley, Idaho, ... decree of the District Court of the United States for the District of Idaho, Southern Division, dated, filed and entered in said Court and cause on the 7th day of November, 1924. (Notices of sale related to receiver's administration.)
Source
newspapers

Newspaper Articles (12)
1. November 24, 1921 The Idaho Republican Blackfoot, ID
Article from The Idaho Republican, November 24, 1921

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BURLEY BANK FAILS TO OPEN MONDAY Slow Payment Given as Cause for Failure The First National Bank of Burley failed to open its doors for business Monday morning and is now in the hands of the national banking department with L. M. Sawyer Jr., national bank examiner, in charge. Unsatisfactory liquidation at a time when it was thought that the farmers would be able to market their crops at a profit is given as the cause of the bank not being able to continue in business. Last spring when two other banks in Burley were undergoing a reorganization the First National withstood two severe runs and was supposed to be in good condition. Owing to the general business depression some of the paper held by the bank was rejected by the examiners, but satisfactory securities were always substituted by the bank until the examiners made further demands last week, it is stated. As but a small percentage of the expected crop money has been forthcoming, the board of directors at a meeting which was held Sunday decided to close the bank rather than jeopardize the interests of the depositors unnecessarily by having recourse to temporary remedies. Due to this fact it is stated that the depositors will occupy a much more favorable position than is usual in such cases. It is not known whether a plan of re-organization has been made or not and there is no known bank state. ment yet.

2. November 24, 1921 The Emmett Index Emmett, ID
Article from The Emmett Index, November 24, 1921

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All hats at half price at the Ladies' Hat Shop. Miss Moss left yesterday to spend Thanksgiving at Donnelly. Gossard corsets for sale by Mrs. Kinsey, 212 4th St. Phone 269J. 51 Cotton serge in gray and brown plaids, 17c yard at Golden Rule. Mr. and Mrs. Clayton Lick were visitors here this week from Boise. Miss Grace Barrett visited friends in Boise from Tuesday to Saturday. If you want garbage or wood hauled call on Dan Woody, Emmett Dray Co., Phone 262. Miss Alta Atkins, who was operated upon at St. Luke's hospital in Boise, is recovering nicely. Mrs. Geo. Church returned home Saturday from a week's visit in Boise with relatives and friends. I will teach your watch to tell the truth. L. A. Jarnagin, the Jeweler, 1 door East of Golden Rule. Mrs. Gertrude Fest left yesterday for Gooding to spend the Thanksgiving holidays with her son. The Presbyterian Ladies' Aid will meet with Mrs. Lou Burton next Thursday afternoon at 2:30. Children's gingham dresses, organdie trimmed, sizes 14 and 16, clean up $1.98 at Golden Rule Store. Orvie Hazelton is here from Silver City visiting at the home of his parents, Mr. and Mrs. Rene Hazelton. Will Wilton came over from Houston on Monday to visit his uncle Charles Wilton and friends at Letha. Don't forget to patronize your community products. We handle Montour flour and mill feeds. Co-op. Exchange. Mr. and Mrs. John Orr of Payette are expected here tomorrow to spend Thanksgiving with Mr. and Mrs. Geo. Church. If you want to receive the highest cash price for cream, poultry and eggs bring them to the Gem Ice Cream Company. Preston Chapman returned the last of the week from the upper country, where he has been working for the forest service. Mr. and Mrs. V. T. Craig and Mr. and Mrs. Lauren Dean attended the show, "The Four Horsemen," in Boise Saturday evening. Mill ends of heavy weight outing, 10 and 15 yards. Prices 15c a yard at Golden Rule Store. Is your liver out of order? Do you suffer from biliousness, headaches, constipation? If so, Tanlac is what you need. H. T. Davis. Miss Margaritha Thommen has returned from Fairfield, where she was employed in a bank, and has resumed her former position in the First National bank of this city. C. A. West has disposed of his banking interests at Fairfield. All rubber arctics, made by Candee Rubber Co., six buckles, priced at $2.89 per pair at Golden Rule Store. Max Jackson arrived yesterday from Portland to spend Thanksgiving with friends. He was accompanied by his son, who has just concluded a seven-year enlistment in the army. After the war ended, he was sent to Siberia, where he was stationed until a short time ago. Carl Gaskill, who has been bookkeeper in the First National bank for several years, and who is quite popular in young society circles left today for Burley, where he will be employed as bookkeeper for the receiver of the recently failed First National bank of that city. Special purchase of ladies' trico-tine dresses, priced at $8.95, at Golden Rule Store. We buy cream and issue pay checks right at office. Co-op. Exchange. Ask your grocery for Gem Creamery Butter. PIANO MUST BE SOLD

3. December 15, 1921 The Filer Record Filer, ID
Article from The Filer Record, December 15, 1921

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BURLEY, Dec. 9 The Commercial State bank of this city failed to open its doors this morning. The cause is aot given but it is believed to be due to the insafficiency of some assets in which cash could not be linine liately realized. There is a popular report that it will probably reaper soon. The Commercial State bank was formed by the consolidation 1) the Burley State bank and the Bani of Commerce which closed "their doors January 15. Later the Firs National bank suspended The Bur ley National bank is now the ont) ban kin the city. Its position is sala a be imprognable 28 it owes nobod; nything.

4. December 23, 1921 The Daily Star-Mirror Moscow, ID
Article from The Daily Star-Mirror, December 23, 1921

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STATE ASKS CASH LOST IN BANKS MAKES DEMAND ON SURETY COMPANIES FOR $110,400, IN BANKS NOW CLOSED. Demand for $110,400 in state funds held by state depositories which have closed their doors was made Tuesday on six surety companies by B. E. Hyatt, director of the bureau of public accounts, according to the Idaho Statesman. The surety companies which will meet this demand under the terms of the bonding contract are: The National Surety company, the United States Fidelity & Guaranty company, Fidelity & Deposit Company of Maryland Casualty company and the Aetna Casualty & Surety company. Under the terms of all depository bonds the state is entitled to the total deposit of the state when the banking institution suspended business, plus interest at 3 per cent on the daily balances from the date of last interest payment to the date of settlement by the surety company. The suspended national banks and the amount of state money on deposit in each follow: Blaine County National $11,600 a First National, Mountain Home 21,000 5,000 First National, Wendell First National, Burley 8,400 Total $46,000 State banks suspending operations, E with state funds deposited, are: a Union State, Nez Perce $ 8,400 Delco State Bank 3,800 Bellevue Bank & Trust 7,000 13,500 State Bank, Idaho Falls Citizens' State Bank, Buhl 17,500 Commercial State Bank, Burley 14,200 o Total $64,400 Total for state and national banks, p $110,400.

5. April 14, 1922 The Oakley Herald Oakley, ID
Article from The Oakley Herald, April 14, 1922

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e OAKLEY PROVIDES NINE MEN e FOR GRAND JURY e e Nine of the grand jurymen who d are investigating the closing of three Burley banks and one Declo bank are Oakley men. Their names fole low: H. E. Bidgood, Boulder, a sub0 urb of Oakley; C. G. Larson, John L. Smith, Emil J. Hanzel, James Port, Fred Bach, James F. Devine, William F. Whittle and William H. a Poulton. The other grand jurors t are George Cook, Albion, foreman; ) W. E. Smouth, Burley; James Taye lor, Almo; John A. Elison, Malta: F. C. Butler, I. Curtis Giles, and James Mahoney, all of Albion. There are two views in Burley in regard to the manner in which the affairs of the closed banks are being handled. The Burley Bulletin seems to voice the sentiments of one group when it says, in its issue. of April 6: Depositors and others interested n the best possible liquidation of the assets of the First National Bank and the Commercial State Bank are generally pleased with the men now in charge of them. C. A. Robinson, receiver of the First National Bank, is a banker of experience and has been eminently successful in his own affairs. T. F. Warner, agent in charge of the Commercial State Bank is a banker of proven ability and is recognized as one of the best collectors and businessmen in southern Idaho. The real depositors and guarantors want their money or as much of it as possible out of these closed banks and they are satisfied the men now in charge will get it for them. The Burley Herald, on the other hand, takes an opposite view. Under the heading "Peddling Hot Air," TheHerald, in its issue of Apirl 3. stated, in part: "When theBulletin comes out with a denfense of the manner in which the two closed banks are being liquidated, it is pedding a lot a bunk. The Bulletin is trying to excuse the republican state law that has had a supervision over state banks The people are not satisfied with the way the banks are being liquidated.

6. November 14, 1924 The Oakley Herald Oakley, ID
Article from The Oakley Herald, November 14, 1924

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# NOTICE OF SALE. In the District Court of the United States for the District of Idaho, Southern Division. The Equitable Trust Company of New York, a corporation, Trustee, Plaintiff, vs. W. H. West, Nettie M. West, C. A. Robinson, Receiver of the First National Bank of Burley, Idaho, W. M. Davis, doing business under the firm name and style of The Davis Department Store, and Gem State Lumber Company and Farmers Commercial and Savings Bank, corporations, Defendants. Notice is hereby given that under and by virtue of a decree of the District Court of the United States for the District of Idaho, Southern Division, dated, filed and entered in said Court and cause on the 7th day of November, 1924, the undersigned, as Special Master of said Court in said cause, will sell at public auction to the highest bidder, in conformity with the directions of said decree and the laws of the United States and the State of Idaho pertaining thereto, for the respective amounts found due in said decree, with interest thereon and accruing costs, all and singular, those certain lets, pieces and parcels of land more particularly described as follows, to-wit: NW¼ NW¼. NE¼ NW¼. SE¼ NW¼. Section 24, Township 12 South, Range 21 E. B. M., Cassia County, State of Idaho, together with the water rights appurtenant thereto, including one share of stock per acre of the capital stock of the Oakley Canal Company, free from all rights, titles, interests, liens and claims of all parties to said cause, or otherwise bound by said decree, except the right of redemption. Said sale will be made at the front door of the Court House in the City of Burley, Cassia County, Idaho, on Saturday, the 27th day of December, 1924, at 2:15 p. m. of said day. Any party to said cause and any other person or party may bid or purchase at such sale, and the said lands will be sold in parcels as above described, but the Special Master will receive no bid from anyone offering to bid, except the plaintiff, or its successor in interest, who shall not have deposited with the Special Master at the time of making his bid, as a pledge that he will make good his bid in case of its acceptance, the sum of Five Hundred Dollars ($500.00) in money or a certified check for said amount, payable to the order of the Special Master. All deposits received by the Special Master, except that deposited by the bidders whose bids are conditionally accepted by said Special Master, will be returned by him at the conclusion of the sale to the bidder or bidders from whom they were received. The said premises will be sold subject to redemption as provided in Sections 3026 and 3027 of the Compiled Statutes of Idaho, and subject to confirmation of the sale by said Court. If the sale be confirmed, the Court will, in its order of confirmation, fix the time and manner of payment of the balance of the purchase price over and above the amount deposited on any bid at the time of the sale. Upon confirmation of the sale and compliance by the purchaser with the directions of the Court as to the payment of the balance of the purchase price, the Special Master will execute and deliver a certificate of sale to the property sold to any bidder, and upon expiration of the period of redemption, the Special Master will execute and deliver a deed to such bidder, his grantees or assigns, for the property purchased. For further and better particulars as to the terms and conditions of said sale, reference is hereby made to said decree of said United States Court for the District of Idaho, Southern Division, which decree will be found on file and of record in the office of the Clerk of said Court in the Federal Building, Boise, Idaho. Dated this 13th day of November, 1924. S. H. KUNAU. Special Master. RICHARDS & HAGA, Solicitors for Plaintiff, Residence, Boise, Idaho. First publication November 14, 1924. Final publication December 26, 1924.

7. November 21, 1924 The Oakley Herald Oakley, ID
Article from The Oakley Herald, November 21, 1924

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In Equity No. 675. NOTICE OF SALE. In the District Court of the United States for the District of Ilaho, Southern Division. The Equitable Trust Com any of New York, a corporation, Trustee, Plaintiff, vs. W. H. West, Nettie M. West, C. A. Robinson, Receiver of the First National Bank of Burley, Idaho, W. M. Davis, doing business under the firm name and style of The Davis Department Store, and Gem State Lumber Company and Farmers Commercial and Savings Bank, corporations, Defendants. Notice is hereby given that under and by virtue of a decree of the District Court of the United States for the Distri t of Idaho, Southern Division, dated, filed and entered in said Court and cause on the 7th day of November, 1924, the undersigned, as Special Master of said Court in said cause, will sell at public auction to the highest bidder, in conformity with the directions of said decree and the laws of the United States and the State of Idaho pertaining thereto, for the respective amounts found due in said decree, with interest thereon and accruing costs, all and singular, those certain lets, pieces and parcels of land more particularly described as follows, to-wit: NW½ NW½, NE½ NW½, SE½ NW½, Section 24, Township 12 South, Range 21 E. B. M., Cassia County, State of Idaho, together with the water rights appurtenant thereto, including one share of stock per acre of the capital stock of the Oakley Canal Company, free from all rights, titles, interests, lie: 8 and claims of all parties to said cause, or otherwise bound by said decree, except the right of redemption. Said sale will be made at the front door of the Court House in the City of Burley, Cassia County, Idaho, on Saturday, the 27th day of December, 1924, at 2:15 p. m. of said day. Any party to said cause and any other person or party may bid or purchase at such sale, and the said lands will be sold in parcels 28 above described, but the Special Master will receive no bid from anyone offering to bid, except the plaintiff, or its successor in interest, who shall not have deposited with the Special Master at the time of making his bid, as a pledge that he will make good his bid in case of its acceptance, the sum of Five Hundred Dollars ($500 00) in money or a certified check for said amount, payable to the order of the Special Master. All deposits received by the Special Master, except that deposited by the bidders whose bids are conditionally accepted by said Special Master, will be returned by him at the conclusion of the sale to the bidder or bidders from whom they were received. The said premises will be sold subject to redemption as provided in Sections 3026 and 3027 of the Compiled Statutes of Idaho, and subject to confirmation of the sale by said Court. If the sale be confirmed, the Court will, in its order of confirmation, fix the time and manner of payment of the balance of the purchase price over and above the amount deposited on any bid at the time of the sale. Uron confirmation of the sale and compliAS ance by the purchaser with the directions of the Court as to the payment of the balance of 1 the purchase price, the Special Master will . execute and deliver a certificate of sale to the property sold to any bidder, and upon expiration of the period of redemption. the Special Master will execute and deliver a deed to such bidder, bis grantees or assigns, for the propa erty purchased. For further and better particulars as to the t terms and conditions of said sale, reference is 1 hereby made to said decree of said United in States Court for the District of Idaho, Southern Division, which decree will be found on file and I of record in the office of the Clerk of said o ( Court in the Federal Building. Boise, Idaho. Dated this 13th day of November, 1924. S. H. KUNAU, Special Master. I RICHARDS & HAGA, Solicitors for Plaintiff. Residence, Boise, Idaho. First publication November 14. 1924. Final publication December 26, 1924.

8. December 5, 1924 The Oakley Herald Oakley, ID
Article from The Oakley Herald, December 5, 1924

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In Equity No. 675. NOTICE OF SALE. In the District Court of the United States for the District of Idaho, Southern Division. The Equitable Trust Company of New York, a corporation, Trustee, Plaintiff, vs. W. H. West, Nettie M. West, C. A. Robinson, Receiver of the First National Bank of Burley, Idaho, W. M. Davis, doing business under the firm name and style of The Davis Department Store, and Gem State Lumber Company and Farmers Commercial and Cavings Bank, corporations, Defendants. Notice is hereby given that under and by virtue of a decree of the District Court of the United States for the District of Idaho, Southern Division, dated, filed and entered in said Court and cause on the 7th day of November, 1924, the undersigned, as Special Master of said Court in said cause, will sell at public auction to the highest bidder, in conformity with the directions of said decree and the laws of the United States and the State of Idaho pertaining thereto, for the respective amounts found due in said decree, with interest thereon and accruing costs, all and singular, these certain lets, pieces and parcels of land more particularly described as follows, to-wit: NW½ NW4, NE½ NW½, SE1/4 NW14, Section 24, Township 12 South, Range 21 E. B. M., Cassia County, State of Idaho, together with the water rights appurtenant thereto, including one share of stock per acre of the capital stock of the Oakley Canal Company, free from all rights, titles, interests, liens and claims of all parties to said cause, "or otherwise bound by said decree, except the right of redemption. Said sale will be made at the front door of the Court House in the City of Burley, Cassia County, Idaho, on Saturday, the 27th day of December, 1924, at 2:15 p. m. of said day. Any party to said cause and any other person or party may bid or purchase at such sale. and the said lands will be sold in parcels as above described, but the Special Master will receive no bid from anyone offering to bid, except the plaintiff, or its successor in interest, who shall not have deposited with the Special Master at the time of making his bid, as a pledge that he will make good his bid in case of its acceptance, the sum of Five Hundred Dollars ($500.00) in money or a certified check for said amount, payable to the order of the Special Master. All deposits received by the Special Master, except that deposited by the bidders whose bids are conditionally accepted by said Special Master. will be returned by him at the conclusion of the sale to the bidder or bidders from whom they were received. The said premises will be sold subject to redemption as provided in Sections 3026 and 3027 of the Compiled Statutes of Idaho, and subject to confirmation of the sale by said Court. If the sale be confirmed, the Court will, in its order of confirmation, fix the time $ and manner of payment of the balance of the purchase price over and above the amount 1 a deposited on any bid at the time of the sale. Upon confirmation of the sale and compliM ance by the purchaser with the directions of t the Court as to the payment of the balance of t the purchase price, the Special Master will e execute and deliver a certificate of sale to the property sold to any bidder, and upon expirat tion of the period of redemption, the Special Master will execute and deliver deed to such b bidder, his grantees or. assigns, for the prope erty purchased. For further and better particulars as to the terms and conditions of said sale, reference is t } hereby made to said decree of said United TO States Court for the District of Idaho, Southern I Division, which decree will be found on file and of record in the office of the Clerk of said o ( Court in the Federal Building, Boise, Idaho. Dated this 13th day of November, 1924. S. H. KUNAU, Special Master. E RICHARDS & HAGA, Solicitors for Plaintiff, Residence, Boise, Idaho. First publication November 14, 1924. Final publication December 26, 1924.

9. December 12, 1924 The Oakley Herald Oakley, ID
Article from The Oakley Herald, December 12, 1924

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In Equity No. 675. NOTICE OF SALE. In the District Court of the United States for the District of Ilaho, Southern Division. The Equitable Trust Company of New York, a corporation, Trustee, Plaintiff, vs. W. H. West, Nettle M. West, C. A. Robinson, Receiver of the First National Bank of Burley, Idaho, W. M. Davis, doing business under the firm name and 8 yle of The Dav's artment Store, and Gem State Lumber Company and Farmers Commercial and SavIngs Bank, corporations, Defendants. Notice is hereby given that under and by virtue of a decree of t e District Court of t United States for the District of Idaho, South ern Division, dated. filed and entered in said Court and cause on the 7th day of November, 1924, the undersigned, as Special Master of said Court in said cause, will sell at public auction to the highest bidder, in conformity with the dire tions of said decree and the laws of the United States and the State of Idaho pertaining thereto, for the respective amounts found due in said decree, with interest thereon and accruing costs, all and singular, those certain Icts, picces and parcels of land more particularly describ d as follows, to-wit: NW½ NW4, NE1/4 NW1/4, SE½ NWM. Section 24, Township 12 South, Range 21 E. B. M., Cassia County, State of Idaho, together with the water rights appurtenant thereto, including one share of stock per acre of the ca, stock of the Oakley Canal Company, free from all rights, titles, interests, liers and claims of all parties to said cause, or otherwise bound by said decree, except the right of redemption. Said sale will be made at the front door of the Court House in the City of Burley, Cassia County, Idaho, on Saturday, the 27th day of December, 1924, at 2:15 D. m. of said day. Any party to said cause and any other person or party may bid or purchase at such sale, and the said lands will be sold in parcels as above described. but the Special Master will receive no bid from anyone offering to bid, except the Jaintiff, or its successor in interest, who shall not have deposited with the Special Master at the time of making his bid, as a pledge that he will make good his bid in case of its accentance, the sum of Five Hundred Dollars ($500 in money or a certified check for said amount, payable to the order of the Special Master. All deposits received by the Special Master, except that deposited by the bidders whose bids are conditionally accepted by said Special Master, will be returned by him at the conclusion of the sale to the bidder or bidders from whom they were received. The said premises will be sold subject to re. demption as provided in Sections 3026 and 3027 of the Compiled Statutes of Idaho, and subject to confirmation of the sale by said Court. If the sale be confirmed. the Court will, in its order of confirmation, fix the time and manner of payment of the balance of the purchase price over and above the amount deposited on any bid at the time of the sale. Upon confirmation of the sale and compliance by the nurchaser with the directions of the Court as to the payment of the balance of the purchase price, the Special Master will execute and deliver a certificate of sale to the property sold to any bidder, and upon expiration of the period of redemption, the Special Master will execute and deliver a deed to such bidder, his grantees or assigns, for the property purchased. For further and better particulars as to the terms and conditions of said sale, reference is hereby made to said decree of said United 8 States Court for the District of Idaho, Southern Division, which decree will be found on file and a of record in the office of the Clerk of said Court in the Federal Building, Boise, Idaho. Dated this 13th day of November, 1924. S. H. KUNAU, Special Master. RICHARDS & HAGA, Solicitors for Plaintiff, Residence, Boise, Idaho. First publication November 14, 1924. Final publication December 26, 1924.

10. May 28, 1925 South Idaho Press Burley, ID
Article from South Idaho Press, May 28, 1925

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Robinson Resigns As Bank Receiver Robinson. receiver for the First National Bank of Burley and the First National Bank of Rupert, has tendered his resignation to the federal comptroller, effective as soon as another receiver is sent here. Mr. Robinson will devote all of his time this summer to construction work. His company contracts to approximately $250,000 for road work Nevada. One job includes stretch of new road 30 miles long.

11. August 27, 1925 South Idaho Press Burley, ID
Article from South Idaho Press, August 27, 1925

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BANK RECEIVER $16,000 IN FEDERAL Depositors in Defunct First National of Burley Win Large Sum Court of Appeals Confirms Decision Over Bonding Company Judgment of over $16.000 favor First National Bank Burley, against the Fidelity Surety and company granted before Dietrich. the United States district court. affirmed circourt appeals. San Franwhich appeal taken by surety company according the the decision received John Graham. of Twin Falls. attorney Mr Robinson financial aspect that than $16. surety company sought hold depositors of Burley bank Company Would Hold Out The surety company held that while the bond indicated that liable for amount named. surety for bank officials. liable in the sum $40,000 and that. should allowed apply the $16.the $40.000 reimburse In handing down the decision the after saying question presented writ May pany offset by surety national bank against the claim by the after insolon bond given by the surety company indemnify the bank against loss sustained through fraud The facts are the before the court in United Fideland Guarantee Woolcompany ridge. 295 There bond was executed the surety company national bank harmless against loss through dishonesty of emploves. and second bond the company harmless from from deposit in the The ruling of the supreme court in Fidelity case. which was cided after the appeal the suit the Burley bank. held that the surety could apply proceeds one bond issued by itself off its losses under another band. This case was passed by the supreme court May 1925. and thought that the surety case will not carry up the decision referred the highest court seem to renfurther appeal useless. Heiss Jerome now ceiver of the First National Bank, Mr. Robinson. having resigned since was instituted.

12. June 17, 1926 South Idaho Press Burley, ID
Article from South Idaho Press, June 17, 1926

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Receiver of Local Bank Has Resigned W. A. Heiss has resigned as receiver of several failed Southern Idaho banks and C. O. Thomas. a national bank receiver of Pocatello, Idaho, will have charge in closing up the remaining business of the institutions. The receiverships which Mr. Heiss, resigns are the First National Bank of Burley, First National Bank of Rupert, First National Bank of Wendell and City National of Jerome. First National Bank of Burley, elosed November 19th, 1921. Mr. Heiss appointed receiver May 28, 1925. Divinone. As the Wendell and Burley banks assets were sold some time ago, the affairs of these two banks are practically ready to be closed.