Stockmen's National Bank (Fort Benton, MT)

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Federal Bank Inquiry In Northwest States Is Not Yet Completed

CHICAGO, Jan. 22.—Although the four federal officials named by President Coolidge to plan for the relief of the credit situation of banks and farmers in the northwest have held two conferences with Chicago bankers and federal reserve bank officials, no statement regarding the situation has been made.

Henry M. Dawes, comptroller of the currency, a member of the investigating commission, said after last night's conferences that he could not predict when any statement would be forthcoming.

The officials will visit South Dakota, Nebraska and other middle western states of the wheat belt to investigate depression conditions.

MONTANA BANK GOES INTO VOLUNTARY LIQUIDATION

GREAT FALLS, Mont., Jan. 22. A decision to go into voluntary liquidation was reached yesterday by stockholders of the Stockmen's National bank, of Fort Benton, it was learned here today. F. E. Stranahan, president of the bank, estimated that the bank, after charging off losses, is solvent with a surplus of $200,000. The bank has been in business forty-four years.

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STOCKMEN'S NATIONAL BANK TO LIQUIDATE BUSINESS

Fort Benton, Jan. 21.—A decision to go into voluntary liquidation was reached Monday afternoon by stockholders of the Stockmen's National bank, one of the oldest banking institutions in Montana. Two-thirds of the stock unanimously approved such action, which is subject to the sanction of the comptroller of currency.

F. E. Stranahan, president of the bank, was appointed liquidating agent under bonds of $25,000. It is his estimate that the bank at the present time after charging off losses, is solvent with a surplus of $200,000. The bank has been in business here for 44 years and during that time it has paid in dividends to stockholders more than $900,000, officials said.

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The Stockmen's National bank of Fort Benton, one of the oldest banks in Montana, and at one time fifth largest in the United States, suspended business Monday.

Mr. and Mrs. O. W. Olson left Monday for the coast, where they will visit for a few weeks. Upon their return to Hinsdale Mr. Olson will dispose of his garage here and move to Harlem, where he has purchased another garage.

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TELEGRAMS

ST. CROIX STATION. Chicago, Jany. 22nd -With the list of bank failures in the Northwest swelled during the last two days by forced closures, representatives of the financial powers of the United States Government named by President Coolidge, are holding conferences here designed to bolster the credit of the Northwest. Pwo Montana banks decided to close their doors today. At Havre, the security bank of Havre, with approximately $750, 000 in deposits, was forced to close because of heavy withdrawals, and the Stockmans National Bank of Fort Benton was placed in voluntary liquidation by the stockholders. The Fort Benton Bank had been in business forty-four years. Two banks in South Dakota closed yesterday due to withdrawals. They were the International State Bank of Sioux Falls, and the Western National Bank of Mitchell, the former having deposits of $1 300,000 and the latter $425,000. About twe ve banks have closed in South Dakota since January 1st, because of depleted reserves. The youngmens Booster Association, the largest businessmens organization in Sioux Falls. after a meeting last night, at which the banking situation was considered. passed resolutions declaring the complete financial ruin in South Dakota is likely, unless there is immediate relief from federal and other outside sources. Paris, Jan. 23rd. - The controversy between Great Britain and France, concerning the operation of the railways in the Rhindland appears to be reaching an acute stage. The British complain that the French and Belgians are operating

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Talk Reorganization of Stockman's Bank; Receiver in Charge

Special to The Tribune. Fort Benton, Jan. 31.—Word has been received here of the appointment of J. P. Rigler, as temporary receiver of the Stockmen's National bank, pending reorganization. Much talk is heard here regarding the prospects of reopening the bank under a reorganization plan. It is reported that $75,000 of the necessary $100,000 has been pledged. Hopes are being entertained that the federal scheme to assist banks in this section will be utilized to aid in the reopening.

J. P. Rigler, the new receiver, was a resident of Fort Benton for some time and is well known in this vicinity and being acquainted with the conditions here should prove a good man for the position.

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Talk Reorganization of Stockman's Bank; Receiver in Charge

Fort Benton, Feb. 2—Word has been received here of the appointment of J. P. Rigler as temporary receiver of the Stockmen's National bank, pending reorganization. Much talk is heard here regarding the prospects of reopening the bank under a reorganization plan. It is reported that $75,000 of the necessary $100,000 has been pledged. Hopes are being entertained that the federal scheme to assist banks in this section will be utilized to aid in the reopening.

J. P. Rigler, the new receiver, was a resident of Fort Benton for some time and is well known in this vicinity and being acquainted with the conditions here should prove a good man for the position.

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Talk Reorganization of Stockman's Bank; Receiver in Charge

Fort Benton, Feb. 2—Word has been received here of the appointment of J. P. Rigler as temporary receiver of the Stockmen's National bank, pending reorganization. Much talk is heard here regarding the prospects of reopening the bank under a reorganization plan. It is reported that $75,000 of the necessary $100,000 has been pledged. Hopes are being entertained that the federal scheme to assist banks in this section will be utilized to aid in the reopening.

J. P. Rigler, the new receiver, was a resident of Fort Benton for some time and is well known in this vicinity and being acquainted with the conditions here should prove a good man for the position.

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Plan Reorganization Fort Benton Bank

Fort Benton, Feb. 5.—(Special)—An announcement is made of the appointment of J. P. Rigler as temporary receiver of the Stockmen's National bank, pending reorganization. Much talk is heard here regarding the prospects of reopening the bank under a reorganization plan. It is reported that $75,000 of the necessary $100,000 has been pledged. Hopes are being entertained that the federal scheme to assist banks in this section will be utilized to aid in the reopening.

J. P. Rigler, the new receiver, was a resident of Fort Benton for some time and is well known in this vicinity.

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RIGLER SUCCEEDS T. E. McCLINTOCK AS BANK RECEIVER

New Manager of Affairs of Defunct Institution Has Been in Montana 10 Years and Formerly Was Connected With War Finance Corp.

J. P. Rigler. for the last two years associated with the receiver. ship of the Commercial National bank of Great Falls, has been appointed receiver take the place of T. E. McClintock whose resignation was given the comptroller of the treasury July He also sueceeds the receiverships of the First National bank of Highwood and First National bank of Carter Mr. McClintock still Is receiver of the Stockmen's National bank of Fort Benton and the First National and Citizens National banks of Wyo Mr. Rigler has resided in Montana 10 years and formerly was connected with the War Finance corporation He now is representa tive of the Hanover National bank of New York in Montana, Idaho and South Dakota. The Commercial bank which failed October 4. 1922 with deposits one 15 per cent dividend year ago The Highwood bank has paid 1-2 per cent to date

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Malta Bank Receiver Authorized to Sell Fixtures, Furniture

Frank Browne. receiver of the First National Bank of Malta was authorized to sell bank fixtures and furniture not needed in the conduct of the receiver's work. in an order signed by Judge Charles N. Pray in federal court here Friday The order permits the disposal of the property at either public or private sale at the highest prices obtainable. The sale will be subject to the approval of the comptroller of currency and the court. The petition of T. E. McClintock receiver of the Stockmen's National Bank of Fort Benton, for permission to compromise with Robert E. Camp in settlement of promissory note held by the bank also was approved by the court. Under the terms of the compromise a note for $7,610 secured by 90 acres of Gallatin county land. will be settled and the mortgage the land released upon payment of $6,000. This amount is more than could be obtained in any other legal manner. Mr. McClintock stated in his petition.

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Bank Buys Building The Chouteau County bank has purchasthe Stockmen's National Bank building the corner of Front and Bond streets Benton. National Bank building was built in 1896, and occupied by the builders until the close of the bank in receiver was appointed, still in the hands of receiver. is very advantageously located, and substantial structure. Above the banking floor offices are by men. To the of the bank is the Fort Benton postoffice.