City National Bank (Kearney, NE)

Episode Information

Episode Type
Suspension → Closure
Start Date
May 1, 1927*
Location
Kearney, Nebraska (40.699, -99.081)
Bank Type
national
Charter Number
3958

Metadata

Receivership Details

Depositor recovery rate
1.5%
Date receivership started
1927-09-30
OCC cause of failure
Losses
Share of assets assessed as good
2.8%
Share of assets assessed as doubtful
59.7%
Share of assets assessed as worthless
37.5%

Notes

Used contemporary newspaper reports; official receivership date (1927-09-30) recorded in bank data noted.

Events (5)

1. January 11, 1889 Chartered
Source
historical_nic
2. March 30, 1927 Voluntary Liquidation
Source
historical_nic
3. May 1, 1927* Suspension
Cause
Bank Specific Adverse Info
Cause Details
Frozen paper / frozen loans dating from 1920 cited as reason for closure; bank failed to open its doors in May 1927.
Newspaper Excerpt
Kearney was thrown into excitement this morning when the City National Bank... failed to open its doors. Dan Morris... attributed the trouble to frozen paper,
Source
newspapers
4. September 30, 1927 Receivership
Newspaper Excerpt
M. A. Ross, receiver of the City National bank of Kearney since last May, brought suit... (article notes receiver in charge since May)
Source
newspapers
5. September 30, 1927 Receivership
Source
historical_nic

Newspaper Articles (23)

Article from The Brainard Clipper, December 23, 1926

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OF CURRENT WEEK

BRIDGES BUILT OVER MISSOURI RIVER

Be Requested of and Nebraska Legislatures of Nebraska will be asked for funds to construct eight bridges over the Missouri river at the coming session, decided at meeting of the Nebraska Bridge association, which attended by Iowa bridge enthusihere. The bridges would be constructed South Sioux City, Decatur, Omaha, Blair, Plattsmouth, Nebraska City, Rulo and Iowa bridge advocates will ask the legislature give cent of the per primary road fund each year toward the construction of the bridges. the plan works out bridge year could be built, was stated.

Two Kearney National Banks Merge Central National with the City National bank, of this following negotiations which extended over several weeks. Though the merger, the City National bank becomes one of the strongest houses in the state, outside of Omaha and Lincoln, with deposits exceeding $2,500,000 and capital and surplus and cash and bonds on

Graduate Voted an Oxford Scholarship Cox. who graduated from the University Nepreparing upon course in Oxford university following his winning the Rhoades scholarship for Nebraska from list dozen candidates. The Rhodes award provides for three years residence the English school with annual gift of 400 pounds sterling. Cox graduated from Lincoln high school in 1922. He immediately enrolled in course the University of Nebraska, where he was associated with the Daily Nebraskan, student publication, as editor for two years. He graduated from the university with Beta Kappa honors. He entered the Harvard law school this fall.


Article from The Bennet Sun, December 23, 1926

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NEBRASKA NEWS OF CURRENT WEEK

ASK 8 BRIDGES BUILT OVER MISSOURI RIVER

Funds to Be Requested of Iowa and Nebraska Legislatures

Omaha.-L.egislatures of Nebraska and Iowa will be asked for funds to construct eight bridges over the Missouri river at the coming session, It was decided at a meeting of the Nebraska Bridge association, which was attended by Iowa bridge enthusiasts here. The bridges would be constructed at South Sioux City, Decatur, Omaha, Blair, Plattsmouth, Nebraska City, Rulo and Niobrara. Iowa bridge advocates will ask the legislature to give 5 per cent of the primary road fund each year toward the construction of the bridges If the plan works out one bridge & year could be built, it was stated.

Two Kearney National Banks Merge Kearney.-The Central National bank, of Kearney, has been merged with the City National bank, of this city, following negotiations which extended over several weeks. Though the merger, the City National bank becomes one of the strongest banking houses in the state, outside of Omaha and Lincoln, with deposits exceeding $2,500,000 and a capital and surplus of $165,000, and cash and bonds on hand exceeding $600,000.

Graduate Voted an Oxford Scholarship

Lincoln.-Hugh B. Cox. who graduated from the University of Nebraska last spring, is preparing to embark upon a three-year course in Oxford university following his winning the Rhoades scholarship for Nebraska from a list of a dozen candidates. The Rhodes award provides for three years residence at the English school with an annual gift of 400 pounds sterling. Cox graduated from Lincoln high school in 1922. He immediately enrolled in a course at the University of Nebraska, where he was associated with the Daily Nebraskan, student publication, as editor for two years. He graduated from the university with Phi Beta Kappa honors. He entered the Harvard law school this fall.


Article from The Cairo Record, December 23, 1926

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NEBRASKA OF CURRENT WEEK

BRIDGES BUILT MISSOURI RIVER to Be Requested of Iowa and Nebraska Legislatures of Nebraska Iowa will be asked for funds to construct eight bridges over the river at the coming session, was decided at meeting of the Nebraska Bridge association, which attended by Iowa bridge enthusihere. The bridges would be constructed South Sloux City, Decatur, Omaha, Blair, Plattsmouth, Nebraska City, Rulo and Niobrara. Iowa bridge advocates will ask the legislature to give per cent of the primary road fund each year toward the construction of the bridges. If the works out one bridge year could be built, it was stated.

Two Kearney National Banks Merge Central National bank, of Kearney, has been merged the City National bank, of this city, following negotiations which tended several weeks. Though the merger, the City National bank becomes one of the strongest banking houses in the state, outside of Omaha and Lincoln, with deposits exceeding $2,500,000 and capital and surplus of $165,000. and cash and bonds on hand exceeding $600,000.

Graduate Voted an Oxford Scholarship Cox. who graduated from the University of Nebraska to embark upon course in Oxford university following his winning the Rhoades scholarship for Nebraska from list dozen candidates. The Rhodes award provides for three years residence at the English school with an annual gift of 400 pounds sterling. Cox graduated from Lincoln high school in 1922. He immediately enrolled in course at the University of Nebraska, where he was associated with the Daily Nebraskan, student publication. RS editor for two years. He graduated from the university with Phi Beta Kappa honors. He entered the Harvard law school this fall.


Article from Hildreth Telescope, December 23, 1926

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CURRENT

BUILT OVER MISSOURI

Funds Be Requested and Nebraska Legislatures of Nebraska and lowa will be asked for funds construct eight bridges over the Missouri river at the coming session, decided at meeting of the Nebraska Bridge association, which attended by Iowa bridge enthusihere. The bridges would constructed South Sloux City, Decatur, Omaha, Blair, Plattsmouth, Nebraska City, Rulo and Niobrara. Iowa bridge advocates will ask the legislature to per cent of the primary road fund each year toward the construction of bridges. the plan works out one bridge year could be built, stated.

Two Kearney National Banks Merge Central National bank, of Kearney, has been merged the City National bank, of this negotiations which extended over several weeks. Though the merger, the City National bank one of the strongest banking houses the state, outside of Omaha and Lincoln, with deposits exceeding $2,500,000 and capital and surplus $165,000. and cash and bonds on exceeding

Graduate Voted Oxford Scholarship Cox. who graduated from the University Nobraska last preparing bark upon course in Oxford university following his winning the Rhoades scholarship for Nebraska dozen candidates. Rhodes for three years residence at the English school with Cox graduated from Lincoln high school in 1922. He immediately enrolled in course at the University of Nebraska, where he associated with the Daily Nebraskan, student publication, as editor for two years. He graduated from the university with Beta Kappa honors. He entered the Harvard law school

Infant Mortality Nebraska mortality Nebraska, Iowa, Minnesota, Oregon lower other during 1925, Grace Abbott, chief of the children's bureau, said her annual report. year the maternity and Infancy act, through which federal aid states for the promotion of birth hy giene, urged. Although progress been reducing the mothers and babies, further effort toward this end is needed, was said. The infant mortality during 1925 for the United States was per births. The five leading states had or below.


Article from The McCook Republican, December 24, 1926

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OF CURRENT

BRIDGES BUILT OVER MISSOURI to Be of and Requested Nebraska Legislatures

Nebraska will be asked for funds construct over the eight bridges Missouri at the coming session, decided at meeting of the Nebraska Bridge association, which attended by Iowa bridge enthusihere. The bridges would be constructed South Sioux City, Decatur, Omaha, Blair, Plattsmouth, Nebraska City, Rulo and Niobrara. Iowa bridge advocates will ask the legislature to give cent of the per primary road fund each year toward the construction of the bridges. If the plan works out one bridge year could be built, was stated.

Two Kearney National Banks Merge Central National bank, of Kearney, has been merged with the City National bank, of this city, following negotiations which tended over several weeks. Though the merger, the City National bank becomes one of the strongest banking houses in the state, outside of Omaha and Lincoln, with deposits exceeding $2,500,000 and capital and surplus of $165,000, and cash and bonds on exceeding

Graduate Voted Oxford Cox. who graduated from the University of Nebraska last spring, preparing to embark upon three-year course in Oxford university following his winning the Rhoades scholarship for Nebraska from list of dozen candidates. The Rhodes award for three years residence at the English school with an annual of 400 pounds sterling. Cox graduated from Lincoln high school in 1922. He immediately enrolled in course at the University of Nebraska, where he associated with the Daily Nebraskan, student publication, as editor for two years. He graduated from the university with Phi Beta Kappa honors. He entered the law school this fall.


Article from The Peru Pointer, December 24, 1926

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NEBRASKA NEWS OF CURRENT WEEK

ASK 8 BRIDGES BUILT OVER MISSOURI RIVER

Funds to Be Requested of lowa and Nebraska Legislatures

Omaha.-Legislatures of Nebraska and Iowa will be asked for funds to construct eight bridges over the Missouri river at the coming session, it was decided at a meeting of the Nebraska Bridge association, which was attended by Iowa bridge enthusiasts here. The bridges would be constructed at South Sioux City, Decatur, Omaha, Blair, Plattsmouth, Nebraska City, Rulo and Niobrara. Iowa bridge advocates will ask the legislature to give 5 per cent of the primary road fund each year toward the construction of the bridges If the plan works out one bridge & year could be built, it was stated.

Two Kearney National Banks Merge Kearney.-The Central National bank, of Kearney, has been merged with the City National bank, of this city, following negotiations which ex. tended over several weeks. Though the merger, the City National bank becomes one of the strongest banking houses in the state. outside of Omaha and Lincoln, with deposits exceeding $2,500,000 and a capital and surplus of $165,000, and cash and bonds on hand exceeding $600,000.

Graduate Voted an Oxford Scholarship Lincoln.-Hugh B. Cox. who graduated from the University of Nobraska last spring, is preparing to embark upon a three-year course in Ox. ford university following his winning the Rhoades scholarship for Nebraska from a list of dozen candidates. The Rhodes award provides for three years residence at the English school with an annual gift of 400 pounds sterling. Cox graduated from Lincoln high school in 1922. He immediately enrolled in a course at the University of Nebraska, where he was associated with the Daily Nebraskan, student publication, as editor for two years. He graduated from the university with Phi Beta Kappa honors. He entered the Harvard law school this fall.


Article from The Potter Review, December 24, 1926

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NEBRASKA NEWS OF CURRENT WEEK

ASK 8 BRIDGES BUILT OVER MISSOURI RIVER

Funds to Be Requested of lowa and Nebraska Legislatures

Omaha.-Legisiatures of Nebraska and Iowa will be asked for funds to construct eight bridges over the Missouri river at the coming session, It was decided at a meeting of the Nebraska Bridge association, which was attended by Iowa bridge enthusiasts here. The bridges would be constructed at South Sioux City, Decatur, Omaha, Blair, Plattsmouth, Nebraska City, Rulo and Niobrara. Iowa bridge advocates will ask the legislature to give 5 per cent of the primary road fund each year toward the construction of the bridges. If the plan works out one bridge & year could be built, it was stated.

Two Kearney National Banks Merge Kearney.-The Central National bank, of Kearney, has been merged with the City National bank, of this city, following negotiations which extended over several weeks. Though the merger, the City National bank becomes one of the strongest banking houses in the state, outside of Omaha and Lincoln. with deposits exceeding $2,500,000 and a capital and surplus of $165,000, and cash and bonds on hand exceeding $600,000.

Graduate Voted an Oxford Scholarship Lincoln.-Hugh B. Cox. who graduated from the University of Nebraska last spring, is preparing to embark upon a three-year course in Oxford university following his winning the Rhoades scholarship for Nebraska from a list of a dozen candidates. The Rhodes award provides for three years residence at the English school with an annual gift of 400 pounds sterling. Cox graduated from Lincoln high school in 1922. He immediately enrolled in a course at the University of Nebraska, where he was associated with the Daily Nebraskan, student publication, as editor for two years. He graduated from the university with Phi Beta Kappa honors. He entered the Harvard law school this fall.


Article from The Douglas County Gazette, December 24, 1926

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CURRENT

MISSOURI

Be Requested of Nebraska Legislatures of Nebraska will be asked for funds construct eight bridges the Missouri river the coming decided at meeting the Nebraska Bridge which attended by Iowa bridge enthusihere. The bridges would be constructed South Sloux Decatur, Omaha, Blair, Plattsmouth, Nebraska Rulo and Iowa bridge advocates will ask the legislature cent of the per primary road fund each year toward the construction of the bridges the plan works out bridge could be built, stated.

Kearney National Banks Merge Central National bank, Kearney, has been merged the City National bank, of this following negotiations which tended over several weeks. Though the merger, the City National bank becomes one of the strongest houses the state, outside of Omaha and Lincoln, deposits exceeding $2,500,000 and capital and surplus and cash and bonds hand exceeding

Graduate Voted Oxford Cox. who graduated from the University Nebraska last preparing to emupon three-year course Oxford university following his winning Rhoades for Nebraska from list dozen candidates. The Rhodes award provides for three years residence the English school with annual gift of 400 pounds sterling. graduated from Lincoln high school He immediately rolled in course the University of Nebraska, where associated with the Daily Nebraskan, student publication, as editor for two years. graduated from the with Beta Kappa honors. He entered the Harvard law school fall.

Infant Mortality Low in Nebraska mortality Nebraska, Iowa, Minnesota, Washingand Oregon was lower than other states during Grace Abbott, chief of the children's bureau, said her annual report. two year extension of the maternity and infancy act, through which federal aid given states for the promotion of birth giene, urged. Although progress has been made reducing mothers and babies. further effort toward end needed. The infant mortality rate during for the United States was per births. The five leading states of 60 or below.


Article from Cedar Rapids Outlook, December 30, 1926

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NEBRASKA NEWS OF CURRENT WEEK

ASK 8 BRIDGES BUILT OVER MISSOURI RIVER

Funds to Be Requested of Iowa and Nebraska Legislatures

Omaha.—Legislatures of Nebraska and Iowa will be asked for funds to construct eight bridges over the Missouri river at the coming session, it was decided at a meeting of the Nebraska Bridge association, which was attended by Iowa bridge enthusiasts here.

The bridges would be constructed at South Sioux City, Decatur, Omaha, Blair, Plattsmouth, Nebraska City, Rulo and Niobrara.

Iowa bridge advocates will ask the legislature to give 5 per cent of the primary road fund each year toward the construction of the bridges. If the plan works out one bridge a year could be built, it was stated.

Two Kearney National Banks Merge

Kearney.—The Central National bank, of Kearney, has been merged with the City National bank, of this city, following negotiations which extended over several weeks. Though the merger, the City National bank becomes one of the strongest banking houses in the state, outside of Omaha and Lincoln, with deposits exceeding $2,500,000 and a capital and surplus of $165,000, and cash and bonds on hand exceeding $600,000.

Graduate Voted an Oxford Scholarship

Lincoln.—Hugh B. Cox, who graduated from the University of Nebraska last spring, is preparing to embark upon a three-year course in Oxford university following his winning the Rhoades scholarship for Nebraska from a list of a dozen candidates. The Rhodes award provides for three years residence at the English school with an annual gift of 400 pounds sterling. Cox graduated from Lincoln high school in 1922. He immediately enrolled in a course at the University of Nebraska, where he was associated with the Daily Nebraskan, student publication, as editor for two years. He graduated from the university with Phi Beta Kappa honors. He entered the Harvard law school this fall.

Infant Mortality Low in Nebraska

Washington.—Infant mortality in Nebraska, Iowa, Minnesota, Washington and Oregon was lower than in any other states during 1925, Grace Abbott, chief of the children's bureau, said in her annual report. A two year extension of the maternity and infancy act, through which federal aid is given states for the promotion of birth hygiene, was urged. Although progress has been made in reducing the deaths of mothers and babies, further effort toward this end is needed, it was said. The infant mortality rate during 1925 for the United States was 72 per 1,000 births. The five leading states had rates of 60 or below.

Want Good Roads In Pawnee County

Pawnee City.—Heightening interest in good roads was marked by the meeting with the Public Service club of retiring and newly elected county commissioners and four citizens of Mission Creek, all of whom declared in favor of concerted action to secure a more widespread system of good roads for this county. At the present time state department men are staking the highway from the end of gravel surfacing west of here to Lewiston, preparatory to grading, and prospecting for gravel has been conducted near here by engineering forces of the state.


Article from Sherman County Times, December 31, 1926

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NEBRASKA NEWS OF CURRENT WEEK

ASK 8 BRIDGES BUILT OVER MISSOURI RIVER

Funds to Be Requested of Iowa and Nebraska Legislatures

Omaha.—Legislatures of Nebraska and Iowa will be asked for funds to construct eight bridges over the Missouri river at the coming session. It was decided at a meeting of the Nebraska Bridge association, which was attended by Iowa bridge enthusiasts here.

The bridges would be constructed at South Sioux City, Decatur, Omaha, Blair, Plattsmouth, Nebraska City, Rulo and Niobrara.

Iowa bridge advocates will ask the legislature to give 5 per cent of the primary road fund each year toward the construction of the bridges. If the plan works out one bridge a year could be built, it was stated.

Two Kearney National Banks Merge

Kearney.—The Central National bank, of Kearney, has been merged with the City National bank, of this city, following negotiations which extended over several weeks. Though the merger, the City National bank becomes one of the strongest banking houses in the state, outside of Omaha and Lincoln, with deposits exceeding $2,500,000 and a capital and surplus of $165,000, and cash and bonds on hand exceeding $600,000.

Graduate Voted an Oxford Scholarship

Lincoln.—Hugh B. Cox, who graduated from the University of Nebraska last spring, is preparing to embark upon a three-year course in Oxford university following his winning the Rhodes scholarship for Nebraska from a list of a dozen candidates. The Rhodes award provides for three years residence at the English school with an annual gift of 400 pounds sterling. Cox graduated from Lincoln high school in 1922. He immediately enrolled in a course at the University of Nebraska, where he was associated with the Daily Nebraskan, student publication, as editor for two years. He graduated from the university with Phi Beta Kappa honors. He entered the Harvard law school this fall.

Infant Mortality Low in Nebraska

Washington.—Infant mortality in Nebraska, Iowa, Minnesota, Washington and Oregon was lower than in any other states during 1925, Grace Abbott, chief of the children's bureau, said in her annual report. A two year extension of the maternity and infancy act, through which federal aid is given states for the promotion of birth hygiene, was urged. Although progress has been made in reducing the deaths of mothers and babies, further effort toward this end is needed, it was said. The infant mortality rate during 1925 for the United States was 72 per 1,000 births. The five leading states had rates of 60 or below.

Want Good Roads in Pawnee County

Pawnee City.—Heightening interest in good roads was marked by the meeting with the Public Service club of retiring and newly elected county commissioners and four citizens of Mission Creek, all of whom declared in favor of concerted action to secure a more widespread system of good roads for this county. At the present time state department men are staking the highway from the end of gravel surfacing west of here to Lewiston, preparatory to grading, and prospecting for gravel has been conducted near here by engineering forces of the state.

Wild Elk Seen in Cedar County

Hartington.—Probably the only elk seen in Cedar county in many years


Article from Nebraska City News Press, May 15, 1927

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Kearney Bank Fails to Open Its Doors

KEARNEY, Neb., May Kearney was thrown into excitement this morning when the City National Bank, with deposits of failed to open its doors. Dan Morris, president, and of the best known bankers in the state, attributed the trouble to "frozen paper," but declared that the bank will be able to pay out 100 cents on the dollar. A national bank examiner who to Kearney Friday night was in charge of, the institution. The City National was capitalized There are two other banks. both state institutions, at Kearney.


Article from Dorchester Star, May 26, 1927

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OF CURRENT WEEK

KEARNEY BANK CLOSES, HOPES OUT

City National Leans," Deposits Nearly $1,760,000.

National bank Kearney has closed had deposits million, 750 thousand dollars and loans of two milthousand "Frozen loans" dating from 1920. assigned the reason for the failure. Last the City !onal bank and the Central National of sold their assets corporation. the City Na. tional bank Kearney The new stitution. controlled by the stockholders the two tormer banks and several amounting to thousand dollars capital stock and 15 thousand dollars surplus. After the organization of the bank by the purchase two old deposits were two million, 440 thousand dollars, and loans about the amount. While the bank. since then, reduced its loans approximately 300 thousand dollars the loss deposits amounts twice that sum. Kearney now has two state banks, the State and the American State

Bradley Horses Enter Omaha Races

Bradley, owner Bubbling Over, which won the 1926 version of the classic Kentucky derand owner of Bewithus and Buddy Bauer, of year's entries. has promised racing association several his horses the meet here June Bradley, said Byrne wealthy Omaha race enthusiast promised me send three four of his best horses, presume he will send Bewithus Buddy Bauer, but any Bradley horse real horse, Bradley

Corn Leading Nebraska Crop than acres under cultivation or per cent was corn. Winter wheat credited acres while oats. was Hated and tame hay of all kinds totalled acres. There bushels produced the state average during the five-year period 1921-25 which put Nebraska third place corn production the nation. Iown led all states and Illinois was second

Attractive Mail Boxes Beautify Roads

Nebraska national campaign beautify public highways by making mail boxes attractive and more uniform, has been taken here. with an active attempt unsightly boxes removed, those improperly placed, correctly stationed. Co-operation of all rural subscribers being sought the post office department, and ters actively engaged helping along.

Tubercular Eradication Reduces LOSS report recently issued Omaha Livesfock exchange ing comparative figures hogs Omaha and Nebraska City from accredited counties show there reduction per cent in the number of tubercular infected hogs slaughtered during the first three months 1927, first three months of 1926.

Restrain Issue Of School Bonds Scott and other taxpayers for and restraining order against the board prevent from Issuing bonds for the erection school building, upon petition payers, without an The junction will be argued before Carter.

Cutwerms Real Menace Crops braska have reported cutworms menace their this The rainy spring believed been responsible for inroads of the worms, which have shown quantities such not this vicinity for many

To Begin Drive On Barberry Nebraska obtained $21,000 from federal appropriation for the new year beginning July for barberry eradication. The survey work for common barberry will Pierce. and Stanton the result work in bushes have been found and troyed from 4,045 properties. search carried during the shows that barberries been observed counties the state.


Article from Kearney Hub, June 21, 1927

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Now or Never!

The hotel drive will close tomorrow evening. and the result reached that time may have definite bearing upon the future Our Town for to come. Admitting that many years the drive to secure subscription of $35,000 the preferred stock of the proposed operating company follows upon the heels of the recent City National bank suspension, with the consequent depressing influences, the fact nevertheless remains that this allotment to Kearney citizens not beyond our reach or our financial ability. To admit that this city of ten thousand people can not or WILL NOT invest thousand dollars in sound home enterprise which means so much this particular moment, would be shameful and humiliating confession made publicly without reservation plea in extenuation. Surely we do not intend to make such confession. Moreover climax of injustice reached when it becomes necessary for the generous and public spirited foot the bill for community and progress while his citizen lacking in public spirit or generosity is equally benefitted although his contribution pittance possibly nothing at all. Indeed, for circumstanced citizen to ride free the cost of another person not well circumstanced, is thing so repugmant as to be inconceivable, were not true and did we not know that such things are really done. The last lap of the drive is now on. The amount in sight at this time approximately $21,000.00. Strenuous will be needed to put the drive across for the full $35,000. Of course can be done. But to do It there must be addition to the list of subscribpossibly will be necessary for those who have subscribed to increase the amounts pledged. No "piker" be on good terms with himself he has contributed to the transformation of Splendid Effort Humiliating Failure. Again, great deal depends upon the action of Kearney's absentee of Mr. Keens, Mr. DownMr. Porterfield and present residents California, but having heavy property interests modest gesture from these four and step forward by other group of citizens are holdwould instantly change discouraging outlook into assurance of gratifying SUCCESS. should be borne in mind that the new owners of the uncompleted hotel asking for gifts or donations, offering reasonably safe investment six per cent with probability of future liquidation from the profits operation. But be that as may, the proposal were for gift instead of an investment, every subscriber would still be making the best of all investments, based upon his own community pride and the indirect benefits derived from the building of proud and community.

Color blindness is frequently just annoying, but when the vision distorts to baby pink It high time do something about It.

Censorship of bathing costumes on the Atlantic City beaches has been abandoned. You can censor some things all of the time, others some of the time but appears futile to expect to censor feminine dress at any time.

This year, we are told, to petition of 1816, year without Let's worry about that when over and for the time being on finishing the hotel and looking forward to harvesting that wonderful small grain crop which now in sight.

Canada threatens embargo filth" of American origin. There seems to be ample justification step, decent can thus be saved from polution. Cheap, degrading, filthy "magazine perhaps even more danthe future mankind than corn borer foot and mouth greatest says Charles "is for air ports great cities. This country situated be the leader We have no International 8 complicate things, our conditions are relatively good people to whom time means more than does to any Lindbergh merely stunt attitude toward him mere sentimentality.


Article from Evening World-Herald, September 7, 1927

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SUES SOUTH SIDE BANK

Receiver at Kearney Wants Accounting on N

M A. Ross, receiver of the City National bank of Kearney since nst May, brought suit in federal court here sday against the State Bank of South Omaha for an accounting, as the result 01 the latter's efforts to collect on a note. The note given by the Kearney blank, for $12,500. was not paid at maturity, and collateral notes were ordered sold, the receiver contends in his petition. The Omaha bank then bought them in Mr. Ross claims he did not get notice of the sale. The suit was filed by Brogan, Ellick and Raymond.


Article from Omaha World-Herald, September 7, 1927

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SUES SOUTH SIDE BANK

Receiver at Kearney Wants Accounting on N

M A. Ross, receiver of the City National bank of Kearney since ast May, brought suit in federal court here sday against the State Bank of South Omaha for an accounting as the result of the latter's efforts to collect on note The note given by the Kearney blank for $12,500. was not paid at maturity. and collateral notes were ordered sold. the receiver contends in his petition. The Omaha bank then bought them in Mr. Ross


Article from Kearney Hub, September 24, 1927

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REPORTS ON AUDIT OF LOCAL COLLEGE

Suggests Bonds to Secure Deposit of School Funds.

The suggestion has been made by State Accountant Sommer, in report on his audit of the Kearney State Teachers college, that normal schools exact bonds securing their deposits in local banks, that do not operate under the depositors guarantee law. This recommendation made in view of the fact that the Kearney State Teachers' college carried on deposit in the City National bank matter of $7,275.02 Proper claims for these amounts have been filed with the bank receiver; It is set forth. The audit completed by the state accountant covers the period from August 1925 to August 1927. The matriculation and other college fees collected and turned into the state treasury amounted to $52,018.16 Of this $44,744.16 was credited to the Kearney normal cash and $7,274.00 to their library fund. There funds have been appropriated for the benefit of the normal schools, and warrants are issued against same by the state auditor upon presentation of proper vouchers. dining room is operated at the Kearney normal in connection with the dormitory. The charges for board are week for those rooming the dormitory and $5.50 for outsiders. The intention is to cost, The dormitory rent $1 to per week. The attendance has been as follows: Summer Year Term 1927 Post graduate students Seniors Juniors 68 160 Sophomores 154 244 Freshmen 454 683 Unclassified 13 Specials 48 Training school 181 283 Affiliated rural schools 227 50 and Study Center 332

Dance to Karl Bartz and his Black and Gold Orchestra, at the 1733 Park, Thursday evening, Sept. 22nd.

A. G. Bower & Son Funeral Director and ambulance service.

BANKRUPTCY SALE. JEWELRY AND FIXTURES. will sell at Public Sale, the entire stock and fixtures of the McKee's Jewelry Store, as whole or in part, located at Kearney, Nebraska. The stock consists of good line of watcher, clocks, high grade China, glass ware and jewelry togethwith fixtures. This will be great opportunity for someone to bargain prices. Jewelrymen and others interested may make inquiry of the trustee at any time before Terms and conditions of sale will be at time of sale. Sale opens at Saturday, Septem24, 1927. The right is reserved to reject all blds and made and all sales are subject to approval the Bank ruptey court. E. CROSIER, Trustee In Bankruptcy W. W. Wimberly, Auctioneer.


Article from Nebraska Signal, April 19, 1928

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"proclamation the become and executive committee offers the following comment in regard to the adoption the above proposed amendment: This proposal tax the erty of the people the merely poses to loan the credit of the state temporarito the banking department for the purpose hastening the closing of the affairs of insolsaving expense guarantee fund. The deposits banks trebled the past fifteen the average increase been about ten million dollars year. All state banks pay annual assessment of of per cent on their deposits for the benefit the guarantee fund. The continued the deposits will hasten the payment of the the guarantee fund. public confidence the bank deposit law maintained the deposits the banks will continue, and swell the upon the banks. the is adopted the state can sell bank receivers' cortificates low rate of interest, pay the depositors the money found legally due them and millions dollars of expense interest charges and for the cost of operating large number banks by the guarantee fund commission over long periods without earning come. As nearly can estimate, one-half more of the money the banks upon assessments has to present pay interest and in the of bankrupt banks by the commission. Our proposal would stop great deal of this expense. money saved would go towards out of the deficit. creation of the guarantee fund commission for the temporary handling of solvent banks has undoubtedly large sums to the guarantee fund. proposed amendment will make possible tional large sums besides aiding the intent the law, the payment of depositors within reasonable time. This is not issue each depositor an individual certificate, scattering thousands of such certificates over the state and making the holders of the prey speculators and loan sharks, No one who considers the impossible difficulties paying dividends on such widely scattered dividual certificates, some very small, and the involved will consider such plan any practical value. would be least partial repudiation: will not do to say that every should be smart enough select sound bank for his deposit. Everybody had implicit faith in the City National bank of Kearney. bank broke last May with deposits more than two million dollars. April the received an order to pay dividend twentyfive per cent, that being the first dividend paid. Every depositor that bank will be heavy loser. Even financial experts celved occasionally and the average citizen not hope to be an expert in banking. the state is pledged to make the guar antee law work long stands the books. After provision made to handle the present overdraft the people of the state and their representatives in the legislature calmly consider the step should be benefit the people state the solvent banks can be given more time to pay off the guarantee fund deficit. that can be done the assessments be duced. All of the advantages recited secured the people of the state the proposed constitutional


Article from The Pilot-Tribune, April 25, 1928

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tee Fund Law. The legislature shall provide by law the payment of such secured certificates by an annual assessment on the banks. The credit of the state shall under this provision after January 1932. not be pledged all certificates thus secured shall have been paid, When this amendment to the shall, by proclamation of the governor, become and be repealed. The executive committee offers the following comment in regard to the adoption of the above proposed amendment: This is not proposal to tax the property of the of the state. merely to loan the credit people proposes of the state temporarily to the banking department for the purpose of hastening the closing of the affairs of solvent banks and saving great expense to the guarantee fund. The deposits in state banks have trebled in our the fifteen the average increase having been past years, million dollars All state banks have to about ten year. pay an annual assessment of six-tenths of one per cent on their deposits for the benefit of the guarantee fund. continued increase in the deposits will hasten the The of the claims against the guarantee fund. If payment public confidence in the bank deposit law is maintained the deposits in the banks will continue to grow and swell the from the assessments the banks. sums upon 3. If the above amendment is adopted the state can sell bank receivers' certificates at a very low rate of terest, pay the depositors the money found legally due them and save millions of dollars of expense in interest and for the cost of operating a large number charges banks by the guarantee fund commission over long periods without earning income. As nearly as we can mate, or more of the money collected from the solvent banks has to be used at present upon to pay interest and in the operation of bankrupt banks the commission. Our proposal would stop a great deal of this expense. The money saved would go towards the wiping out of the deficit. early 4. The creation of the guarantee fund commission for the temporary handling of insolvent banks has undoubtedly saved large sums to the guarantee fund. The proposed amendment will make it possible save additional large sums besides aiding the intent of the law, the payment of depositors within a reasonable time. 5. This is not proposal to issue to each depositor an individual certificate, scattering thousands of such certificates over the state and making the holders of such certificates the prey of speculators and loan sharks. No one who considers the impossible difficulties of paying dividends on such widely scattered individual certificates, some very small, and the great expense involved will consider such a plan of any practical value. It would be at least partial repudiation. It will not do to say that every person should be smart enough select sound bank for his deposit. had implicit faith in the City National bank of Kearney. The bank broke last May with deposits of more than two million dollars. April 12 the receiver received an order to pay dividende of 25%, that being the first dividend paid. Every depositor in that bank will be heavy loser. Even financial experts are deceived occasionally and the average citizen can to be an expert in banking. The faith of the state pledged to make the guarante law work as long as stands on the books. After provision is made to handle the present overdraft the of the state and their people presentatives in the legislature can calmly consider what the next step should be. will benefit all of the people of the state if the solvent banks can be given more time to pay off the guarantee fund deficit. that can be done the can be reduced. All of the recited can cured if the people of the state adopt the proposed constitutional amendment.

Frank O. Edgecombe, Chairman. Brown, Secretary.


Article from Falls City Daily News, April 26, 1928

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CITIZENS BANK GUARANTEE UNION

March 23 citizens engaged in var- prey of speculators and loan sharks. No one who considers the impossible fous occupations in a meeting at Lindifficulties of paying dividends on coln organized the Citizens Bank such widely scattered individual cerGuarantee union, an executive comtificates, some very small, and the mittee being selected. The reason for great expense involved will consider organizing was the heavy deficit in such a plan of any practical value. the bank deposit guarantee fund and It would be at least partial repudiathe Inability of the state banking detion. partment to sell bank receivers' certificates because of the uncertainty as 6. It will not do to say that every to the time of payment. After all person should be smart enough to sesuggestions as to remedies has been lect a sound bank for his deposit. examined, It was decided that the only Everybody had implicit faith th the practical remedy was to offer to the City National bank of Kearney. The people limited constitutional amendbank broke last May with deposits of ment. The form of the proposed more than two million dollars. April amendment decided upon is as fol12 the receiver received an order to lows: pay a dividend of twenty-five per cent, "Guaranteeing the payment of dethat being the first dividend paid. posist in banks is a public purpose. Every depositor in that_bank will be The legislature may pledge the credit a heavy loser. Even financial experts of the state for the payment of certiare deceived occasionally and the avficates to liquidate claims against the erage citizen can not hope to be an fund for the payment of deposits, in expert in banking. The faith of the an amount not greater than five per state is pledged to make the guarantee cent of the average daily deposits in law work as long as It stands on the the bank operating under the Guaranbkooks. After provision is made tee Fund Law. The legislature shall handle the present overdraft the peoprovide by law for the payment of such secured certificates by an annual assessment on the banks. The credit of the state shall not be pledged under this provision after January 1, 1932. When all certificates thus secured shall have been paid, this amendment to the constitution shall, by proclamation of the governor, become and he repealed.' The executive committee offers the following comment in regard to the adoption of the above proposed amendment: 1. This is not a proposal to tax the property of the people of the state. It merely proposes to loan the credit of the state temporarily to the banking department for the purpose of hastening the closing of the affairs of of insolvent banks and saving great expense to the guarantee fund. 2. The deposits in our state banks have trebled in the past fifteen years, expirations. the average increase having been about ten million dollars a year. All state banks have to pay an annual assessment of six-tenths of one per cent on their deposits for the benefit of the guarantee fund. The continued increase in the deposits will hasten the payments of the claims against the guarantee fund. If public confidence in the banks will continue to grow and swell the sums realized from the assessments upon the banks. 3. If the above amendment is adopted the state can sell bank receivers' certificates at a very low rate and Improvements of interest, pay the depositors the money found legally due them and save millions of dollars of expense in interest charges and for the cost of operating a large number of banks by the guarantee fund commission over long perjiods without earning income. As nearly as we can eliminate, one half or more of the money collected from the solvent banks upon assessments has to be used at present to pay interest and in the operation of bankfeet to shoe. rupt banks by the commission. Our proposal would stop a great deal of this expense. The money saved would go towards the early wiping out of the dficit. home town. 4 The creation of the guarantee commission for the temporary hand- ling of insolvent banks has undoubtedly saved largs sums to the guarantee fund. The proposed amendment will make It possible to save additional large sums besides aiding the intent of the law, the payment of depositors within a reasonable time. 5. This is not a proposal to issue to each depositor an individual certificate over the state and making the holders of such certificates the to pie of the state and their representstives in the legislature can calmly consider what the next step should be. 7. It will benefit all of the people of the state at the solvent banks can be given more time to pay off the guarantee fund deficit. If that can be done the assessments can be reduced. All of the advantages recited can be secured if the people of the state adopt the proposed constitutional amendment. Frank O. Edgecombe, Chairman. W Brown, Secretary.


Article from The Guide Rock Signal, April 26, 1928

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Citizens Bank Guarantee Union

March 23 citizens engaged in various occupations in meeting Lincoln organized the Citizens Bank Guarantee union. an exécutive committee being selected. The reason for organizing was the heavy deficit in the bank deposit guarantee fund and the inability of the state banking department to sell bank receivers' certificates because of the uncertainty as to the time of payment. After all suggestions as to remedies had been examined, It was decided that the only practical remedy was to offer to the people a limited proposed amendment decided upon is as 'Guaranteeing the payment of deposits in banks is a public purpose. The legislature pledge the credit of the state for the payment of certificates to liquidate claims against the fund for the payment of deposits, in an amount not greater than five per cent of the average daily deposits in the banks operating under the Guarantee Fund Law The legislature shall provide by law for the payment of such secured certificates by an annual assessment on the banks. The credit of the state shall not be pledged under this provision after January 1, 1932. When all certificates thus secured shall have been paid. this amendment to the constitution shall, by proclamation of the governor, become and be 'repealed The executive committee offers the following comment in regard to the adoption of the above proposed amendment: 1. This is not a proposal to tax the property of the people of the state. It merely proposes to loan the credit of the state temporarily to the banking department for the purpose of hastehing the closing of the affairs of insolvent banks and saving great expense to the guarantee fund. 2. The deposits in our state banks have trebled in the past fifteen years, the average increase having been about ten million dollars a year. All state banks have to pay an annual assessment of six-tenths of one per cent on their deposits for the benefit of the guarantee fund. The continued increase in the deposits will hasten the payment of the claims against the guarantee fund. If public confidence in the bank deposit law is maintained the deposits in the banks will continue to grow and swell the sums realized from the assessments upon the banks. 3. If the above amendment is adopted the state can sell bank receivers' certificates at a very low rate of (interest, pay the depositors the money found legally due them and say, millions of dollars of expense interest charges and for the eostof operating a large number of bants by the guarantee fund commisson over long periods without earning income. As nearly as we can estimate. one-half or more of them only collected from the solvent bank upon assessment has to be used a present to pay interest and in the operation of bankrupt banks by be commission. Our proposal would stop a great deal of this expene. The money saved would go twards the early wiping out of the eficit. 4. The cration of the guarantee fund commision for the temporary handling of Insolvent banks has undoubtedly seed large sums to the guarantee full The proposed amendment will nake it possible to save additional rge sums besides aiding the inten of the law, the payment of depettors within a 5. This is not proposal to issue to each depositom individual certificate, scattering thousands of such certificates overme state and making the holdersor such certificates the prey of eculators and loan sharks. No or who considers the impossible diculties of paying Lividends on hch widely scattered individual ctificates, some very small, and to great expense involved will conter such a plan of any Wactica. It would be at least * wrinot do to say that every person shilld be smart enough to select Sund bank for his deposit. Everyboy had implicit faith in the City ational Bank of Kearney, The ank broke last May with deposts of more than two million dollars April 12 the receiver receivan order to pay dividend of wenty per cent. that being the first dividend paid. Every depositor in that bank will be a heavy loser Even financial experts are deceived occasionally and the average citizen can not hope to be an expert in banking. The faith of the state is pledged to make the guarantee law work as long as it stands on the books. After provision is made to handle the present overdraft the people of the state and their representatives in the legislature can calmly consider what the next step should be. 7. It will benefit all of the people of the state if the solvent banks can be given more time to pay off the guarantee fund deficit: If that can be done the assessments can be reduced. All of the advantages recited can be secured if the people of the state adopt the proposed constitution amendment. FRANK O. EDGECOMBE, Chairman. W. A. BROWN. Secretary


Article from Cedar County News, April 26, 1928

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Citizens Bank Guarantee Union Proposes Remedy For The State Bank Institution

Citizens engaged in various occupations Lincoln March 23 organized the meeting on Citizens Bank Guarantee union, an executive committee being selected. reason for ganizing the heavy deficit in the bank deposit guarantee fund and the inabiltiy of the state banking department to sell bank receivers' certificates because of the uncertainty as to the time of payment. After all suggestions as to remedies had been examined, it was decided that the only practical remedy was to offer to the people limited constitutional amendment. The form of the proposed amendment decided upon is as follows: "Guaranteeing the payment of deposits in The legislature banks public purpose may pledge the credit of the state for the pay. ment of certificates to liquidate claims against the fund for the payment of deposits, in an amount not greater than five per cent of the average daily deposits in the banks operating under the Guarantee Fund Law. The legislature shall provide by law for the payment of such secured certificates by an annual assessmeit on the banks. The credit of the state shall not be pledged under this provision after January 1932. When all certificates thus secured shall have been paid, this amendment to the constitution shall, by proclamation of the governor, become and be repealed." The executive committee offers the following comment in regard the adoption of the above proposed amendment: This not to tax the proposal propof the people of the state. It merely proerty poses to loan the credit of the state temporarily the department for the purpose banking the of the affairs of insolof hastening closing banks and saving great expense to the vent guarantee fund. The deposits in our state banks have trebled in the past fifteen years, the average increase having been about ten million dollars year. state banks have to pay an annual assessment of six-tenths of one per cent on their deposits for the benefit of the guarantee fund. The continued increase the deposits will hasten the payment of the claims against the guarantee fund. If public confidence. in the bank deposit law is maintained the dein the banks will continue to grow and posits swell the sums realized from the assessments upon the banks. 3. If the above amendment is adopted the state can sell bank receivers' certificates at low rate of interest, pay the depositors very the money found legally due them and save millions of dollars expense in interest charges and for the cost of operating large number of banks by the guarantee fund commission over long periods without earning income. As nearly as we can estimate one-half or more of the money collected from the solvent banks upon assessments has to be used at present to pay interest and in the operation of bankrupt banks by the commission. Our proposal would stop great deal of this expense. The money saved would go towards the early wiping out of the deficit. The creation of the guarantee fund commission for the temporary handling of insolvent banks has undoubtedly saved large sums to the guarantee fund. The proposed amendment will make it possible additional large sums besides aiding the intent of the law, the payment of depositors within reasonable time.

5. This is not proposal to issue to each depositor an individual certificate, scattering thousands of such certificates over the state and making the holders of such certificates the prey of speculators and loan sharks. No one who considers the impossible difficulties of paying dividends on such widely scattered individual certificates, some very small, and the great expense involved will consider such plan of any practical value. It would be at least partial repudiation. 6. It will not do to say that every person should be smart enough to select sound bank for his deposits. Everybody had implicit faith in the City National Bank of Kearney. The bank broke last May with deposits of more than two million dollars. April 12 the receiver received an order to pay dividend of per cent, that being the first dividend paid. Every depositor that bank will be heavy loser. Even financial ex perts deceived occasionally and the average citizen can not hope to be an expert in banking The faith of the state pledged to make the guar antee law work as long as stands on the books. After provision is made to handle the present overdraft the people of the state and their representatives in the legislature can calmly consider what the next step should be. It will benefit all of the people of the state if the solvent banks can be given more time to pay off the guarantee fund deficit. If that can be done the assessments reduced. the advanta ges recited can be secured if the people of state adopt the proposed constitutional amendment FRANK EDGECOMBE, Chairman, W. BROWN, Secretary.


Article from The Leigh World, April 27, 1928

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PROPOSED AMENDMENT TO CONSTITUTION RELATIVE TO GUARANTEE-FUND

Inasmuch as the people of Nebraslea will be called upon to vote on the proposed constitutional amendment relative to the bank guarantee fund at the November election it behooves them to become familiar with the provisions of that amendment. Frank Edgecombe as chairman and W. A. Brown as secretary of the newly organized "Citizens Bank Guarantee Union," have issued the following statement, with the approval of the executive committee of that body. March 23 citizens engaged in various occupations in a meeting at Lincoln organized the Citizens Bank Guarantee union, an executive committee being selected. The reason for organizing was the heavy deficit in the bank deposit guarantee fund and the inability of the state banking department to sell bank receivers certificates because of the uncertainty as to the time of payment. After all suggestions' as to remedies had been examined, it was decided that the only practical remedy was to of fer to the people a limited constitutional amendment. The form of the proposed amendment decided upon is as follows:

"Guaranteeing the payment of de"posits in banks is a public purpose. "The legislature may pledge the credit "of the state for the payment of "certificates to liquidate claims "against the fund for the payment "of deposits, in an amount not great"er than five per cent of the average "daily deposits in the banks operating "under the Guarantee Fund Law. "The legislature shall provide by law "for the payment of such secured "certificates by an annual assessment "on the banks. The credit of the "state shall not be pledged under this "provision after January 1, 1932. "When all certificates thus secured "shall have been paid, this amend"ment to the constitution shall, by "proclamation of the governor, be"come and be repealed." The executive committee offers the following comment in regard to the adoption of the above proposed amendment: 1. This is not a proposal to tax the property of the people of the state. It merely proposes to loan the credit of the state temporarily to the banking department for the purpose of hastening the closing of the affairs of insolvent banks and saving great expense to the guarantee fund. 2. The deposits in our state banks have trebled in the past fifteen years, the average increase having been about ten million dollars year. All state banks have to pay an annual assessment of six-tenths of one per cent on their deposits for the benefit of the guarantee fund. The continued increase in the deposits will hasten the payment of the claims against the guarantee fund. If public confidence in the bank deposit law is maintained the deposits in the banks will continue to grow and swell the sums realized from the assessments upon the banks. 3. If the above amendment is adopted the state can sell bank receivers' certificates at a very low rate of interest, pay the depositors the money found legally due them and save millions of dollars of expense in interest charges and for the cost of operating a large number of banks by the guarantee fund commission over long periods without earning income. As nearly as we can estimate, one-half or more of the money collected from the solvent banks upon assessments has. to be used at present to pay interest and in the operation of bankrupt banks by the commission. Our proposal would stop great deal of this expense. The money saved would go towards the early wiping out of the deficit. 4. The creation of the guarantee fund commission for the temporary handling of insolvent banks has undoubtedly saved large sums to the guarantee fund. The proposed amendment will make it possible to save additional large sums besides aiding the intent of the law, the payment of depositors within a reasonable time. 5. This is not a proposal to issue to each depositor an individual certificate, scattering thousands of such certificates over the state and making the holders of such certificates the prey of speculators and loan sharks. No one who considers the impossible difficulties of paying dividends on such widely scattered individual certificates, some very small, and the great expense involved will consider such a plan of practical value. It would be at least partial repudiation. 6. It will not do to say that every person should be smart enough to select a sound bank for his deposit. Everybody had implicit faith in the City National bank of Kearney. The bank broke last May with deposits of more than two million dollars. April 12 the receiver issued an order to pay a dividend of twenty-five per cent, that being the first dividend paid. Every depositor in that bank will be a heavy loser. Even financial experts are deceived occasionally and the average citizen can not hope to be an expert in banking. The faith of the state is pledged to make the guarantee law work as long as it stands on the books. After provision is made to handle the present overdraft the people of the state and their representatives in the legislature can calmly consider what the next step should be. 7. It will benefit all of the people of the state if the solvent banks can be given more time to pay off the guarantee fund deficit. If that can be done the assessments be reduced. All of the advantages recited can be secured if the people of the state adopt the proposed constitutional amendment.


Article from Sherman County Times, May 4, 1928

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Citizens Bank Guarantee Union

March 23 citizens engaged in various occupations in a meeting at Lincoln organized the Citizens Bank Guarantee Union, an executive committee being selected. The reason for organizing was the heavy deficit in the bank deposit guarantee fund and the inability of the state banking department to sell bank receivers' certificates because of the uncertainty as to the time of payment. After all suggestions as to remedies had been examined, it was decided that the only practical remedy was to offer to the people a limited constitutional amendment. The form of the proposed amendment decided upon is as follows: "Guaranteeing the payment of deposits in banks is a public purpose. The legislature may pledge the credit of the state for the payment of certificates to liquidate claims against the fund for the payment of deposits, in an amount not greater than five per cent of the average daily deposits in the banks operating under the Guarantee Fund Law. The legislature shall provide by law for the payment of such secured certificates by an annual assessment on the banks. The credit of the state shall not be pledged under this provision after January 1, 1932. When all certificates thus secured shall have been paid, this amendment to the constitution shall, by proclamation of the governor, become and be repealed." The executive committee offers the following comment in regard to the adoption of the above proposed amendment. 1. This is not a proposal to tax the property of the people of the state. It merely proposes to loan the credit of the state temporarily to the banking department for the purpose of hastening the closing of the affairs of insolvent banks and saving great expense to the guarantee fund. 2. The deposits in our state banks have trebled in the past fifteen years, the average increase having been about ten million dollars a year. All state banks have to pay an annual assessment of six-tenths of one per cent on their deposits for the benefit of the guarantee fund. The continued increase in the deposits will hasten the payment of the claims against the guarantee fund. If public confidence in the bank deposit law is maintained the deposits in the banks will continue to grow and swell the sums realized from the assessments upon the banks. 3. If the above amendment is adopted the state can sell bank receivers' certificates at a very low rate of interest, pay the depositors the money found legally due them and save millions of dollars of expense in interest charges and for the cost of operating a large number of banks by the guarantee fund commission over long periods without earning income. As nearly as we can estimate, one-half or more of the money collect ed from the solvent banks upon assessments has to be used at present to pay interest and in the operation of bankrupt banks by the commission. Our proposal would stop a great deal of this expense. The money saved would go towards the early wiping out of the deficit. 4. The creation of the guarantee fund commission for the temporary handling of insolvent banks has undoubtedly saved large sums to the guarantee fund. The proposed amend ment will make it possible to save additional large sums besides aiding the intent of the law, the payment of depositors within a reasonable time. 5. This is not a proposal to issue to each depositor an individual certificate, scattering thousands of such certificates over the state and making the holders of such certificates the prey of speculators and loan sharks. No one who considers the impossible difficulties of paying dividends on such widely scattered individual certificates, some very small, and the great expense involved will consider such plan of any practical value. It would be at least partial repudiation. 6. It will not do to say that every person should be smart enough to select a sound bank for his deposit. Everybody had implicit faith in the City National bank of Kearney. The bank broke last May with deposits of more than two million dollars. April 12 the receiver received an order to pay a dividend of twenty-five per cent, that being the first dividend paid. Every depositor in that bank will be a heavy loser. Even financial experts are deceived occasionally and the average citizen can not hope to be an expert in banking The faith of the state is pledged to make the guarantee law work as long as it stands on the books. After provision is made to handle the present overdraft the people of the state and their representatives in the legislature can calmly consider what the next step should be. 7. It will benefit all of the people of the state if the solvent banks can be given more time to pay off the guarantee fund deficit. If that can be done the assessments can be reduced. All of the advantages recited can be secured if the people of the state adopt the proposed constitutional amendment. FRANK O. EDGECOMB, Chairman W. A. Brown, Secretary.