First National Bank (Wells, MN)

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conducted here

Walnut Grove- Three boys ranging in age from 15 to 19 years old, all claiming Seattle, Wash., as their home, were arrested here while in the act of robbing a pool hall. Rochester-As the result of complications that followed her injury when she was kicked by a cow, Mrs. D. G. Ottman, a pioneer resident of Genoa, died. Willmar-Dr. I. S. Benson, one of the surgeons at the Union clinic here, will move to Montevideo, where he will be a surgeon at the Community hospital. For nine years he has conducted a hospital in Willmar. Raymond-While chasing her mother's hat on the highway, Dorothy, seven-year-old daughter of Mr. and Mrs. A. Berghuis was run down by a truck and SO badly injured that she died a few hours later. Sleepy Eye-The hog which was the junior champion at the recent Minnesota State Fair may have to be killed as the result of injuries it sustained when run down by a car on a country highway north of here. St. Cloud-State highway No. 24, running from St. Cloud to Litchfield, is to be made an improved trunk line, it was announced here. Work has begun on a strip near St. Cloud four and one-half miles long. Rochester - Representative Sydney Anderson of the First district, is back in Rochester for medical examination. This is the third time he has been here in the last four months for the same purpose. Wells-Plans for reorganization of the First National bank of Wells are reported to be making good progress. It is believed here that depositors of the institution will suffer but slight loss, if any at all. Pipestone-Will'am Knute. aged 27, of Trotsky, Minn., was electrocuted here when he attempted to push his car from an electric light post into which he had driven in a severe rainstorm. Ely-Forest fires are breaking out in northern St. Louis county in the Superior national forest and on state lands adjoining and threaten to be very serious if dry weather continues, it was reported here. St. Cloud-Tobacco raisers in this section are congratulating themselves that, while almost half the tobacco crop of Wisconsin was blighted by frost this fall, the crop here was safely housed for curing before there was a sign of hurtful frost. Albert Lea - The Congregational church members of Freeborn village celebrated their 50th anniversary at the church. Hundreds of people were present to enjoy the all day program of feasting, singing and speechmaking. Jaspar-The potato harvest in this vicinity is on and farmers are receiving prices ranging from 20 to 25 cents a bushel. The yield is from 75 to 175 bushels to the acre for the early varieties. No late potatoes have been dug yet. Duluth-Charles E. Adams, state senator, announced at a meeting of the Duluth Professional Men's club, that he will introduce a bill at the next session of the legislature to compel all automobile drivers to be licensed. Thief River Falls-Inspired by the support given the movement at a noonday luncheon at the Commercial club, organizers started on a whirlwind campaign to sign up Pennington county spud raisers in the Minnesota Co. operative Potato exchange. Albert Lea-At the first consignment sale of the Freeborn County Holstein Breeders association, 43 head were sold for a total of $7,940, or an average of $165.41. A 7 months old heifer, consigned by A. C. Peterson of Clarks Grove, sired by Ormsby Sensation 19th. topped the sale at $305. New Ulm-Seventy Lutheran minis. ters were in session here at the pastoral conference of the Missouri and Wisconsin synods. The Rev. C. S. Met, of Truman, was elected chairman and the Rev. V. Schroeder of Rapidan, secretary. The Rev. C. Seltz of Gibbon and the Rev. F. Koehler of Nicollet, read papers on doctrinal sub. jects. St. Paul - Twenty-eight families moving to new homes in Minnesota passed through the Twin Cities during August and September, and indications point to increased immigration into the state during the remaining months of 1923, says Oscar H. Smith, state immigration commission-

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in age from 15 to 19 years old, all claiming Seattle, Wash., as their home, were arrested here while in the act of robbing a pool hall. Austin-R. M. Loeffler, special as sessor for the Minnesota tax com mission, is in Austin to make a reassessment of moneys and credits for the current year. Rochester-As the result of complications that followed her injury when she was kicked by a cow, Mrs. D. G. Ottman, a pioneer resident of Genoa, died. Willmar-Dr. I. S. Benson, one of the surgeons at the Union clinic here, will move to Montevideo, where he will be a surgeon at the Community hospital. For nine years he has conducted a hospital in Willmar. Raymond-While chasing her mother's hat on the highway, Dorothy, sev en-year-old daughter of Mr. and Mrs. A. Berghuis was run down by a truck and SO badly injured that she died a few hours later. Sleepy Eye-The hog which was the junior champion at the recent Minnesota State Fair may have to be killed as the result cf injuries it sus tained when run down by a car on a country highway north of here. 24 St. Cloud-State highway No. running from St. Cloud to Litchfield is to be made an improved trunk line, it was announced here. Work has begun on a strip near St. Cloud four and one-half miles long. Owatonna-A homecoming for for mer students of Pillsbury academy is to be conducted here on Saturday, Oct 27, arrangements for the event hav ing just been completed by Dr. M. B Price, principal of the school. Rochester - Representative Sydney Anderson of the First district, is back In Rochester for medical examination. This is the third time he has been here in the last four months for the same purpose. Wells-Plans for reorganization of the First National bank of Wells are reported to be making good progress It is believed here that depositors of the institution will suffer but slight loss, if any at all. Ely-Forest fires are breaking out in northern St. Louis county in the Superior national forest and on state lands adjoining and threaten to be very serious if dry weather continues, It was reported here. St. Cloud-Tobacco raisers in this section are congratulating themselves that, while almost half the tobacco crop of Wisconsin was blighted by frost this fall, the crop here was safe ly housed for curing before there was a sign of hurtful frost. Albert Lea - The Congregational church members of Freeborn village celebrated their 50th anniversary at the church. Hundreds of people were present to enjoy the all day program of feasting, singing and speechmaking. Jaspar-The potato harvest in this vicinity is on and farmers are re ceiving prices ranging from 20 to 25 cents a bushel. The yield is from 75 to 175 bushels to the acre for the early varieties. No late potatoes have-been dug yet. Duluth-Charles E. Adams, state senator, announced at a meeting of the Duluth Professional Men's club that he will introduce a bill at the next session of the legislature to com pel all automobile drivers to be licensed. Thief River Falls-Inspired by the support given the movement at a noon day luncheon at the Commercial club organizers started on a whirlwind campaign to sign up Pennington coun ty spud raisers in the Minnesota Co operative Potato exchange. New Ulm-Seventy Lutheran minis ters were in session here at the pas toral conference of the Missouri and Wisconsin synods. The Rev. C. S Met, of Truman, was elected chair man and the Rev. V. Schroeder o Rapidan, secretary. The Rev. C. Selt: of Gibbon and the Rev. F. Koehler of Nicollet, read papers on doctrinal sub jects. Dodge Center-Miss Mary L. Bull home management specialist at Uni versity farm, and Miss Julia O. New ton, University farm home demonstra tion leader, will be the principal speak ers at an ayhievement day progran to be conducted by more than 20 Dodge county farm women, who are completing their first home manage ment project courses. St. Paul - Twenty-eight families moving to new homes in Minnesota passed through the Twin Cities dur ing August and September, and indi cations point to increased immigra tion into the state during the remain ing months of 1923, says Oscar H Smith, state immigration commission er, in a report just issued. "Thes newcomers are of a most desirable class." declared Mr. Smith bich

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CITIZEN OF WELLS VICTIM OF APOPLEXY He Died While Preparing To Ship Carload of Cattle; City News Told [Special To The Free Press]Wells, Minn., November 5.-J. C. Sauer, fifty-seven years of age, a highly respected resident of Wells, dropped dead of apoplexy while preparing to ship a car of cattle at the stock yards Saturday morning. Mr. Sauer was manager of the Wells Farmers' Shipping association, Previous to his death he had been in the best of health and only before he was stricken was conversing in his usual cheery way. There had been much sorrow in his life-a dearly loved daughter, a bride of a few months, died of flu during the war while her young husband was in France. Eighteen months ago his wife passed away after a long illness, then six weeks ago, his young son, Leon, returned from the Orient where he had been in naval service in their winter quarters at Hong Cong, Seriously ill with tuberculosis. He enlisted during the war, and reenlisted and was honorably discharged after having been in the service six years. Besides another son, Earl, Mr. Sauer leaves two brothers, William J. of Wells and Henry C. of Walters. Interment will be in Wells. Word has been received here of th death of a former well known resident, Mrs. J. M. Joice of Evansville, III. With her Husband, Mrs. Joice came to Wells in '89 where Mr. Joice organized a private bank. Three years later it was changed to the First National bank, Mr. Joice being its first president. He was succeeded by his brother-inlaw, M. J. Phil who recently died at the home of his daughter, Mrs. S. M. Hohf of Yankton, S. Dak. L. R. Ewart of Cody, Wyo., has been appointed receiver for the First National bank at Wells and has been in charge there the past week. A change has been made here in essional circles whereby Dr. P. F. Holm, for the last two years a resident of California, once more takes up the practice of medicine here. He bought out Dr. S. E. Anderson of the firm of Best and Anderson and will renew his partnership with his former partner, Dr. F. E. Best with whom he was previously associated for eight years. Dr. Anderson expects to locate in the west. He leaves soon with his wife and daughter.

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Mrs. J. A. Hanson went to Kanawha, Iowa, Wednesday to visit her brother for a few days.

FOR SALE or trade—A Registered Guernsey Herd Sire. J. E. Foss, Hartland.—adv-20-21p.

R. M. Hoffman has been engaged to work in the mechanical department at the Motor Inn, Albert Lea.

Hugh Cooper has rented the Mayland farm south of town and will move from the John Donovan farm March first.

Andrew Jacobson is reported as being able to get around a little after being laid up a long time with rheumatism.

P. O. Hanson saw the Duluth Tigers defeat the Albert Lea Tigers 39 to 37 in a basketball game in Albert Lea Tuesday night.

By filing your automobile registration cards with us you will know where they are when you need them. State Bank of Hartland.—adv.

The Hospital Auxiliary of the City and County will give a Benefit Dance at the Auditorium on Monday Feb. 25. Al. Olson's Orchestra will furnish the music.—ad-20.

The Royal Neighbors initiated five new members last evening. Lunch was served by Misses Ella and Alma Erickson and a social hour followed the initiation ceremony.

Pocket billiard tables at the Hanson barber shop have recently been improved with new cloths and balls. P. O. believes in giving good service—even to the extent of cleaning the stovepipes on Wednes to keep his customers from suffocating.

Considerable trouble has been caused of late by leakage in the old service pipes connecting with the village water mains. Rust is beginning to eat thru the pipes and as no surface cut-offs were installed in the old days the entire system has to be shut off at the supply tank until the pipes are dug up and repaired.

The Wells National Bank closed its doors Wednesday evening following a run on the bank by depositors. The closing down is reported to be only temporary. The trouble followed the closing of the First National at Wells and the recent and sudden death of L. N. Olds, active head of the Wells National. Wells is now without a bank.

Quite a number of town people joined with the neighbors of Mr. and Mrs. N. B. Nelson in giving a farewell reception for the latter at their home near town which they will soon leave for their new home in Redwood Falls. It was a surprise affair planned by friends to honor Mr. and Mrs. Nelson on the eve of their departure from the locality where they have lived so long and where so many friendships have been formed. A pleasant social time was enjoyed, lunch served and best wishes expressed for the happiness and success of the family in their new location. A gift was presented carrying the friendly sentiments of the guests.

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FORMER BANKER IS LODGED IN BASTILE

Otto P. Hoff Is Arrested on Warrant Charging Grand Larceny.

Otto P. Hoff, for a short time first vice president of the now defunct First National bank of this city, was arrested Saturday by Sheriff John Bachtle on a charge of grand larceny.

The specific count lodged against the defendant is theft of $12,500 worth of notes, alleged to have been taken by him from the bank prior to closing of its doors.

It is unofficially reported that Hoff told of the alleged theft himself.

Bonds were fixed in the sum of $2,000. During a telephone conversation today between The Mirror office and Sheriff Bachtle, the latter stated the defendant had not as yet procured bail. In default of the same, he is being held in the county jail at Blue Earth.

Hoff resided at one time in Minneapolis. He came to Wells to become first vice president of the First National bank about a month a half prior to the closing of its doors.

The notes alleged to have been stolen by him are said to have been taken from the note case of the Minnesota Land Credit Co., which concern officed in the First National bank building.

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LOST—Boston Bull, white with brown spots, knot in tail. Phone 46, Charles Schulenberg.

Mrs. Ed. Tubbesing of St. Paul, was a guest at the E. A. Siddall home from Saturday until Tuesday.

Anna Klingerberger is taking a vacation from her duties in the Purdy studio and is enjoying the respite by visiting relatives.

Mr. and Mrs. Joe Kaspereck and Mr. and Mrs. Frank Segar and children were entertained at the Peter Segar home, Sunday.

Harriet Pasche, who has been spending the past three weeks at the J. H. Burmester home, returned Wednesday to her home at Blue Earth.

Phillis Curtis and Gladys Brown returned Monday from a 10 days visit at the home of the former's aunt, Mrs. Margaret Doolittle at Hayfield.

Mrs. William Payne and Margaret, Mrs. Joe Kaspereck and Mrs. Frank Segar and three children, spent Saturday afternoon at Albert Lea.

Mr. and Mrs. Ervin Cook and daughter, Helen, of Mankato, were weekend guests of Mr. and Mrs. George Gillsen and Mr. and Mrs. I. Cook.

Mr. and Mrs. Charles Bundy and baby Jane, who have been taking a 10 days outing, spent at Gull and Big Lakes returned to Wells Saturday.

Mr. and Mrs. Leomond Lamphier and baby, Dorothy Zimmerman, Elmer Werner, were Sunday guests of Mr. and Mrs. Thornton Zimmerman, at Albert Lea.

Mr. and Mrs. J. E. Schofield and daughter, Eana, motored to Blue Earth on business Monday and from there to Fairmont to attend the circus.

FOR SALE—Residences, town properties and good farms at bargain prices. Now is the time to buy.—L. R. Ewart, Receiver, First National Bank, Wells, Minn. 47-tf

Mr. and Mrs. E. A. Siddall, motored to Mankato Sunday and met her sister Mrs. Esther Stolberg, who has been visiting her daughter, Mrs. Roy Steele at Olivia and brot her to their home where she will remain for some time.

W. H. Keigley of the Keigley Land & Loan Co., made a business trip into Central Iowa, during the past week, bringing some land prospects back with with him to whom they were successful in making the sale of one farm.

Mr. and Mrs. C. E. Ford, accompanied by her mother, Mrs. F. F. White, were Sunday guests at the home of the former's daughter, Mrs. Monte Conrad of Albert Lea. Mrs. White remained for a more extended visit with her granddaughter.

Mrs. C. B. Holly and children, and her brother, Frank Banks and wife of Wall Lake, Iowa, returned Sunday, from an interesting and pleasant trip to the Cities, Superior and Duluth. They visited a sister near Superior and other relatives in the Cities.

The Keigley Land & Loan Co., reports recent sales of land in this vicinity as follows: 120 acres near Matawan, which sold for cash at $150.00 an acre. An improved 80 acre farm East of Wells, on the Faribault and Freeborn county line, sold to a party at West Bend, Iowa, at $120.00 an acre.

Mrs. Perry Buscho and sister, Mrs. Fred Miller, went to the Cities Saturday and met their sisters, the Misses Amanda, Sarah and Esther Fandry, milliners at Blue Earth who have been taking a pleasure trip thru the north and visited the Cities on the return trip in order to do their fall buying.

Those who went to Owatonna, Tuesday, expecting to attend the circus in the evening were disappointed. The afternoon show was put on at five p. m. and then the circus pulled out. Mr. and Mrs. Ed Weston and daughter, Carol, also Bessie Weston, were among the disappointed ones. However they had such a fine picnic in the tourist park.

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BANK DEPOSITORS DEFUNCT

Settles Suit Mackey Thompson First National Bank of The Wells The Nationof Against Company for Surety following article, under The headline appeared Wells Mirror of Wells, yesterday's and will be of interest to many of the readers of the Tribune:

(By Mackey Thompson) This suit was instituted case of the First National which receiver Bank of Wells against the National Surety Company to recover under indemnifying the bank bonds loss might sustain his against any certain of some of the through of the bank insured. The officers settled out of court by the suit was paying the present Surety company who is the trust's third receiver, phone the of $21,250. This receiver, sum of claim the full payment any have against the Surety trust may for the acts sued upon mean company action the trust and includes any bring the same acts un Judge might on der the bond of the first receiver, which bond written with the gued said National Surety Company. The First National Bank of Wells brief closed September, 1923. The Sure claimed the bank's con- fore company the Minnesota Land make nection Credit Company and acts leged in the were known national bank examiner and reported and therefore had the of the alleged acts so the distice reported later of the alleged covery acts was outside of the time the bond. The end tion stipulated claimed those who Surety company had charge of the bank after day, closed had access to all books of account and ords and should have known of these causes us action. The receiver disclaimed any act of negligence on His defense, under his part. stand him correctly, that on two duct separate and distinct occasions the department of justice had men our the First National Bank of amining Wells and did not report, that aware, any dishonest act and if they did not find any for criminal action how was he the to find for civil action pected any and with many other pressing duties he could not be expected the thresh matters he believed had been brought To The Surety company in its answer also set laches as a defense. the up This word means unreasonable de Certainly there is no doubt of lay. about delay. This discovery reported in the complaint of the trust two after the made over years bank closed. But has to be unreasonable delay to be laches. The trust had its case well prepared and would have this proposition given the Surety company good battle. Some of the items of the trust's complaint covery those where the notes or per were given for so-called volun assessments. The Surety com tary claimed was not participat pany in by all shareholders and ther the amounts function were the stock held one might say was more of donation, or say, voluntary contribution. The question then arises, was there any liability placed upon the donor in the conduct of the property donatof how could you say the Again, assets of the bank were lessened the conduct of the donor faulty gift? The Surety company claimed the bank was ahead by the contribution yielded. They to also claimed that several of al leged the assets of bank any as they accrued to the benefit of the The receiver read brief present outline of the matter representa tives of the depositors' committee of the First National Bank Wells and the things ered in his statement he said had never met job that required the technique of so many human activities as those required of receiver closed national bank village or small town in an district like ours. The agricultural first this trust in tion had to operate factory in the instance of canning plant. ceiver has to be skilled in chattel He has to know about mortgages. contagious abortion and tuberculo sis in cattle. Versed in drainage and tiling. What conditions allow preferred claim and when does an from Mr. offset obtain. Quoting remarks, said, Thompson's expect us to bat 1,000 per Babe Ruth can't do it and Well, do The rest of the receivcan't for On can speak 1923, there were not September receivers of many experienced tional banks. You don't have it in to either of us that one of the first things, if not the very first thing, in taking bank to examine the sure just closed, bonds of the officers for possible was fortunate enough recovery. make such recovery for the Wells National Bank, but Na words the refused by the office of the comptroller of the currency. They and this flat suggested refused by the Then $17,500 concurred the attorneys of both sides, but flatly refused this. receiver's is no has to make portant decisions and he plays lonely role. There was Thursday afternoon. had to have Good hart, Madland and Ringoen here Saturday to ready for case the following Thursday. We had all that research and positions could before well prepared. No matter the trial court held way would have been appealed. The cost and delay obvious and old Father Time was plugging along in prosiac way and the sun setting the west. Well, derson got his principals in New York on long distance and got the office on the and settled for $21,250 and, as they say, that's that. This epistle reminds me of judge's charge to the jury and that way. only wish lucid as those written Haycraft and Judge Norman Peterson. afraid have my case, which rules. You have this against outline of the matter and your own beyou and to verdict. good for What your unbiased opinion. However, before adjourn to and take your first jury room ballot assume refused settle and stood trial January 1930, and the curtain falls the of the month elapses before you just the setting the same and bring you message, namely, we lost case and the subject before shall appeal with all the attending expense, work and Would have blamed the you findings of the court upon the of the trial and would you have said if had understood you weakness you would have tled? wish you to sleep on this and have meeting and then letter to the comptroller of stating what think currency you about the settlement of Now, not what do think about you conduct of the trust by the othreceivers, not what you think the bank examiners should have done when the bank closed or what department justice should have done about the miscarriage justice, but what should have done on that Thursday afternoon the sun was setting in the

Lea against the American Company in which this inSurety surance company is by the Minneapolis firm The torneys, Messers. Fowler, Carlson, Ferber Johnson. It comes before the circuit court of appeals on an appeal from order sustaining demurrer and expect to Janet heard Kansas City during the March term. The Albert Lea Building Loan Association have Gendler, bond, believe, the sum Lenz, $75,000.00 under which it would son, be very advantageous to the assomade of Ardis recovery the had deposited with the Albert Lea State Bank at the time that bank closed. These surance companies use all the vices and artifices known to the genuity of the smartest brains the country and use all the intricacies, devious ways and pitfalls of our present rethods of litigation Robert to escape liability. You can lieve me not. It behooves some Harold attorney on behalf the Albert Building Loan Association be alert and of single purpose, by son, which mean, to be out first, last and always for the good of the Nelson, Lea Building Loan Association. Select an attorney that has affiliations that one no past or present would tend to temper the vigor of his prosecution. might be for all of the old officers and direc tors the Loan Association hold ing office the time the Albert State Bank closed, to resign. That of course is the shareholders of the Albert Lea Building Loan have wondered was possible make for the Albert Lea Building Loan Association of the remittance of made the Albert Lea ble, Company from the State Foundry Highway Commission by their Grobel, voucher No. C-11544 dated August Houge, state auditor's warrant No. mailed to payees on August Eileen 1928, covering negotiation No. state project No. understand able attorney resigned rector the Albert Lea Building Loan because this draft, the proceeds thereof, was to the Albert Lea Build paid over Loan Association as mort ing certain mortgage where gagee the Albert Foundry Company mortgagor and the property covered by the mortgage volved in the State Highway ject referred to above. The important thing at this time prompt, vigorous and loyal tion. The present men the helm have all these qualities and my of writing these few only purpose words to bring home to all the importance of the situation and to preclude the mistakes made in the Wells trust. Mary MACKEY let

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Opinions

News. Editor Tribune: on You have suggested that the article that furnished for publication in this week's issue of the Wells Mirror would prove interesting readers. If considto your you of any value have no objection to its being used. The people of Albert Lea have the question point right here and now.\ to say that the first rceiver of The First National Bank with the Wells when he took over from the National bank examiner, had known all the things we know now the conduct of the case would have been different. However, this surprising statement for me make because there are great things about which you could many make the same statement, namely, that hindsight lots better than foresight. Education gained in three First, by schools or reading of books, second, by experience and, third, by your own clusions. know of no courses schools for the education of National bank and know of no treatise the subject. fore, we limited to the last two are sources, namely, experience and our conclusions. They say costs this new $20,000.00 and ten lives to make do not know what surgeon. No cake flour ordinary costs to enducate receiver. the of win approval believe, however, it is my duty temporary resident in this com- of munity and having good many step good friends who interested in ever the Albert Building and Loan call attention to noticeable an improvement Association some of experiences on these my show surety bonds covering the acts of an Baking officer in bank that becomes insol- three vent and suspends. had an experrises ience with the Wells Bank (2) with the Citizens National and one Bank Albert Lea. In both cases made recoveries for the respective We believe be trust and this one that have just the First National Bank for easily Pillsbury's makes third case where Wells used. flour ever have made have now with the most delicate, on behalf of pending fourth case National of before finished The Citizens Bank