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SEAT RECEIVER Baner of New Boston Is Installed by State Banking Department. (Special to Aledo, Jan. Baner New Boston was checked in totemporary receiver the Aledo State bank, which closed Dec. by action of the board of directors protect depositors. Clinton Jones, examiner repthe state banking department, Mr. Baner. Mr. Baner was connected with the New Boston State bank for 20 years in various capacities and at the time closing, Dec. 12, by action of the directors, he was president.
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RECEIVER ISSUES STATEMENT TODAY ALEDO Ill., Aug. issued today by H. O. Baner, temporary for the Aledo State bank which was closed Dec. 21, 1931, reorganization of the institution: meeting of the stockholders the Aledo State bank was held office of Attorney General Oscar E. Carlstrom Monday ning consider the plans and hasten the opening the bank. new capital of $55,000 and surplus of is to be raised and paid in by Sept. 10. "One hundred and ninety-nine shares stock were taken at the meeting Monday evening and other stockholders present indicated their intention making immediate arrangements to take stock in the reorganization. committee was appointed to get touch with who were not present and the work hastened to an early completion. The statement of the bank's condition as of Aug. 13, 1932 indicates that the reorganized bank will one of the strong banks of this section of Illinois. Since the closing of the bank, bills payable, to state treasurer, and $10,233.21 to the receiver of the Keithsburg bank, total of has been paid Aug. 13, balance of $85,063.32 is shown. Since the closing of the bank, H. O. Baner has interest and rent and has paid for all purposes leaving total earning of $9,935.67. "With the new capital, present amount of cash hand, and accrued interest that will be paid by Sept. 10, the bank will have cash reserve of over 40 per cent."
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Encouraging Response Met In First Sales of Stock for Reorganizing Aledo Bank (Special to The Argus.) Aledo, Ill., Aug. of stock in the reorganization of the closed Aledo State bank is being started this week, and total of 199 shares has already been subscribed, according to a statement made today by bank officers following meeting of stockholders. Many stockholders not present the meeting have indicated their intention of making immediate rangement to take stock in the organization. committee posed of Ed Emrick, Detwiler, Dr. D. H. Eastman, Dr. M. Marquis and Harry Fisher pointed to get in touch with stockholders who not and work of reorganization will be hastened an early completion. statement the bank's condition as of Aug. 13, 1932, indicated that the reorganized bank will be one of strong banks of this section Illinois, according to offiSince closing of the bank December, bills payable. state and the receiver of the Keithsburg bank, totaling have been paid and Aug. 13 cash shown. Since the closing of the bank Baner, has terest and rent $15,590.65 and paid out for all purposes leaving total net earning of 935.67. With the new capital, present amount of cash on hand. and accrued interest that will be paid by Sept. 10, the bank will have cash reserve of over 40 per cent. Following the financial statement of Aug. Paid. Bills payable. $60,000. State treasurer, Connors, receiver for State bank of Keithsburg. Balance, cash on hand Aug. 13, Receipts from interest, rent, etc., Less auditors' expenses in closing bank, taxes and back salaries before the bank closed, receiver's books purchased, clerk's and stenographer's salaries and other miscellaneous expenses paid, $5,654.98. Leaving net earnings,
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Trustees Bankruptcy Sue Aledo to Recover Funds Aledo Several trustees who had deposited funds from bankrupt estates adjustment the Alede State bank prior to its closing on Dec. 1931, have brought suit against several directors the closed institution federal district court in Peoria. the suit are Ed Complaintants Lewis, trustee bankruptcy for Illinois Military school; trustee for Patterson, bankrupt; Petersen. trustee Karl Bredberg, bankrupt; Moberg, trustee John Pinger, bankrupt; Dale Ives, trusFred Johnson, bankrupt; Robert Cox, trustee for Whitehall all receivand trustees in backruptcy pending court of the United the States for the district Illinois, Jan. 17, 1929, the Aledo State bank was named pository money bankrupt estates process of adjustment and that time bond was given for signed by the bank principal Emrick, Nelson, Detwiler and the late Detwiler as securities. The suit filed against Mr. Emrick Mr. Nelson, and Miss Miriam Detwiler. Mrs. Orpha Jane Walters and Everett Walheirs of the late W. ters, wiler. After the date of Jan 17. 1929 the closing of the prior bank the posited funds from the estates when Baner was named the the following amounts on posit various Moberg, H. H. Peterson, $698.62; Dale Ives, $204.62; Robert M. Cox, 22 and E. W. Lewis, cents, $2,883.01.
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Bank Receiver at Aledo To File Deposit Claims (Special to The Argus.) Aledo, III., Feb. depositors against the Aledo State bank, which not proven share the distribution time the first 10 per cent dividend be submitted Judge Leonard Telleen circuit Aletoday dividend will be made by the H. after of the court.
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Receivers File in Reports in ALEDO, July of three closed banks Mercer county were filed in Mercer county circuit court and proved by Judge Paul Califf yesterday. The reports the Aledo State bank, Aledo; Farmers State bank North Henderson the Farmers State bank Preemption were filed. Baner receiver the Aledo bank; Shaver of the bank North and Simpson the Preemption bank. April 18 there was cash of hand at the Aledo State bank the audit shows. Dividends to have paid of which to creditors, the balance being paid The audit shows that sources totaling charged against the bank of which $274,270.47 per cent been collected. Of as liabilities 23.58 per cent been liquidated with cash or inventory balance at the the bank closed, Dec. Adjustments totaled liabilities liquiwere cash offsets. The amount remaining is listed At the Farmers State bank North hand April listed Dividends totaling have been paid since was closed Aug. 18, 1931. Total were charged against the bank and upon. Net with being charged On April cash balance reported the Farmers State bank Preemption. Dividends totaling been paid which common creditors received 99 cent. per Resources closing Dec. were charged Cash realized from these with $1,848.55 offsets.
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BY Preparations Being Made to $73,148.57 Available to positors Soon. Aledo, made by Baner, of the Aledo State bank, to pay the second 10 per cent dend, pending certain legal ceedings. court entered last placed funds amounting more than the general division, payment of dividend possible in the near 10 cent dividend will per amount to $73,148.57, and checks be issued to 2,501 depositors. Conference Called. Telegrams received by the receivers closed state banks Mercer county this state auditor; Barasking them to attend ference receivers, the auditing officials Federal Land bank of St. Louis, Ridgley Farmers bank in Springfield tomorrow morning o'clock. Cooperation the Federal Land bank with the auditing department the liquidation of assets, through refinancing of farm and home gages the subject the conference. The Federal Land bank opening office the Ridgley bank in Springand has been authorized farm mortgage loans of not exceed 50 cent of appraised value. Commission loans will be made second not an 25 the debts of the been satisfied. details and loans held by closed banks be discussed along other plans for satisfactory liquidation assets. Among the receivers from this county who attend conference are: Aledo: Connors, Keithsburg: Henry Peterson, New Boston: R. North Henderson: Moberg, Simpson, Louis Barnes, therville: Petrie. New WindSmith. New Windsor, and Morgan, Burgess.
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State Banks in County Merged Banks in Receivership in cer County Will Be Liquidated. Aledo merger of all closed state banks Mercer which are receivership, with liquidation under one organization, was nounced Tuesday through the state auditor, Edward Under the plan, all business will be handled through the closed Aledo State bank, which will used as county headquarters, with Conners, former receiver the Citizens State bank of Keithsburg, in charge as deputy ceiver. William O'Connell Chicago will be the receiver charge. Stuart Boultinghouse Aledo has been named county field representative of the ceiver. For the present some the present bank receivers will retained to assist in organization work. Closed state banks which affected by the new order the Aledo State bank, the Matherville State bank, the farmers State bank of Burgess, the New Boston State bank, the Farmers State bank of North Henderson, the bank of Windsor in New Windsor, the Farmers State bank in New the Sherrard State bank. the State bank, Farmers bank the Farmers bank Reynolds. The order effective once of bringing the records and work Aledo has already been started. Mr. Conners, the deputy receiver, former state bank examiner receiver of the and has been closed bank Keithsburg for three years. Mr. Boultinghouse, who associated with him, auctioneer, member of the firm of and sons of Aledo.
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State Banks County Merged Banks in Receivership in MerCounty Will Be Liquidated. Aledo all closed state banks which are in receivership, with liquidation under one organization, was announced Tuesday through the state auditor, Edward Under the plan, all business will be handled through closed Aledo State bank, which will used county headquarters, with Conners, former for the Citizens State bank of Keithsburg, in charge as 'deputy ceiver. William O'Connell of Chicago will be the receiver in charge. Stuart Boultinghouse of Aledo has been named as county field of the ceiver. For the present some of the present bank receivers will to assist in organization work. Closed state banks which affected by new order the Aledo State bank, the State bank, the farmers State of Burgess, the New Boston bank State bank, Farmers State bank North Henderson, the bank of Windsor in New the Farmers State bank in New Windsor, the Sherrard State bank State bank, the the Preemption Farmers bank of Preemption the Farmers bank of Reynolds. The order effective at once of bringing the records and work Aledo has already been started. Mr. Conners, the deputy receiver, former state bank examiner been receiver of the and has bank Keithsburg for closed in three years. Boultinghouse, who associated with him, member of the firm and sons of Aledo.
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RESIDENTS OF ELIZA DEFENDANTS IN CASE Receiver for Aledo Bank Seeks to Recover on Judgment. (Special to The Argus.) Aledo, March Nelhis two sons, Virgil and Lytle and his daughter, Miss Pearl Nelson of Eliza, named defendants suit filed Mercer circuit in Aledo yesterday by William O'Connell, for the Aledo State bank. The bank attempting obtain court order permit the judgment of interest and costs entered against Samuel Nelson. According to the bill filed by torney Virgil representreceiver, judgment against Nelson entered Nov. 1930 for and the tion returned by the sheriff satisfied report that no propfound. Investigation showed. is claimthat transfer of property made by and Nelson under July 1932. in which hundred acres of real estate and all their property the daughter and grandson, Samuel The bank receiver claims in the bill that this transfer conveyproperty illegal and fraudulent. and court order aside also asks order restraining the defendants from selling any of the real estate or personal property. the appointment receiver and another writ of execution on said judgment, with further order to sheriff levy the to satisfy the bank indebtedness. Another suit against the filed federal court aud summer after dence had been taken at master's hearing.