JOB-MAKING PROGRAM LAUNCHED BY LEADERS SUES BANK STOCKHOLDERS Receiver Claims 100 Per Cent Assessment Not Made. collection $22,against two capital stockholders the insolvent Olympia Nationbank filed in federal court by Douglass, receiver The stockholders, Earle McRoskey and John C. Van Etten, the estate the late Clara Etten. have allegedly failed per cent assessments levied against their stocks
GREEN SUED FOR $25,000 BY BANK TACOMA, Sept. 7.—(AP)—O. M. Green, former Olympia banker, is named defendant in a $25,000 suit filed in federal court by H. W. Douglas as receiver of the defunct Olympia National Bank of Olympia, which closed its doors last January 22. The bank receiver seeks collection of a 100 per cent assessment on 250 shares of the bank capital stock held by Green. Similar suits were recently filed by the bank against Earle McCroskey and the estate of the late Clara C. Van Etten, Olympia. THEFT OF LUMBER CHARGED TO FARMER John Sloane, 48, a resident of the Black Lake district, was being held in the county jail on a larceny charge Wednesday in connection with the alleged theft of lumber from the Fifth avenue hotel, now being razed. Sloane was arrested by Deputy Sheriff Mike Lindsey and police authorities at his home Tuesday evening. Sloane, Lindsey said, admitted taking the lumber. He had built a chicken house on his ranch from material removed from the hotel structure, Lindsey indicated. In a search of the Sloane premises five dozen bottles of beer and 30 gallons of wine were found, Lindsey declared. No charges have yet been filed in connection with the liquor.
GREEN SUED FOR $25,000 BY BANK TACOMA, Sept. 7.—(AP)—O. M. Green, former Olympia banker, is named defendant in a $25,000 suit filed in federal court by H. W. Douglas as receiver of the defunct Olympia National Bank of Olympia, which closed its doors last January 22. The bank receiver seeks collection of a 100 per cent assessment on 250 shares of the bank capital stock held by Green. Similar suits were recently filed by the bank against Earle McCroskey and the estate of the late Clara C. Van Etten, Olympia.
R. F. C. AIDS OLYMPIA BANK 18 Per Cent Dividend Will Be Paid Today. OLYMPIA, Oct. (A)-Aided by funds from the finance corporation, the Olympic National bank tomorrow will pay an 18 nounced today. The dividend will be the first paid by the institution since was closed January 22. The payment will mean the distribution of to 2740 depositors. Douglas said he was not authorized to reveal the amount money received by the bank from the corporation.
STATE AWARDED MONEY FUNDS WASHINGTON, Oct. 22. (AP) tion was shown today in its report to congress to have loaned $177,346,000 during September. South clerk of the house representatives, made the report public. Total of The corporation authorised 691 loans aggregating and creases previous for total trust and companies building and loan asociations. Washington will izens' State $5000; Miners Merchants' bank. National bank, Valley bank, $3300; State bank Newport, Olympia, OlymNational (receiver), $125.Seattle State bank. Bank Sumas, $10,379: bank Winstate $1950.
E. B. BENN IS NAMED BANK RECEIVER HERE E. B. Benn, former state senator and at present receiver for a Kelso bank, has been named receiver of the Olympia National bank here, succeeding H. W. Douglass, according to a statement issued by the federal comptroller of currency Monday. Benn will assume charge January 30. Douglass left Olympia Saturday night for Sacramento, Cal., and there he will assume charge of the California National bank which closed its doors Friday. F. C. Wing, assistant to Douglass here, is in charge of the bank pending the arrival of Benn.
E. B. BENN IS NAMED BANK RECEIVER HERE E. B. Benn, former state senator and at present receiver for a Kelso bank, has been named receiver of the Olympia National bank here, succeeding H. W. Douglass, according to a statement issued by the federal comptroller of currency Monday. Benn will assume charge January 30. Douglass left Olympia Saturday night for Sacramento, Cal., and there he will assume charge of the California National bank which closed its doors Friday. F. C. Wing, assistant to Douglass here, is in charge of the bank pending the arrival of Benn.
E. B. Benn, former state senator and at present receiver for a Kelso bank, has been named receiver of the Olympia National bank here, succeeding H. W. Douglass, according to a statement issued by the federal comptroller of currency Monday. Benn will assume charge January 30. Douglass left Olympia Saturday night for Sacramento, Cal., and there he will assume charge of the California National bank which closed its doors Friday. F. C. Wing, assistant to Douglass here, is in charge of the bank pending the arrival of Benn.
BANK OFFICE BEING MOVED The receiver's office for the defunct Olympia National bank is to be moved to the Reed-Ingham building, on Washington street, to make way for the new Washington National to open about March 1 in the Olympia National building, E. B. Benn, receiver, announced Tuesday. The move will be made as soon as the vault has been completed in the Ingham building, probably in about a week. Benn said a lease is being prepared by which the new Washington National will obtain possession of the lower floor, or bank proper, of the Olympia National building. The lease is being made with the First National of Seattle, which is fostering the new institution here. Liquidation activities will be conducted at the new quarters by the same staff as employed for some time, consisting of Lindley R. Morf, assistant receiver, a bookkeeper, a secretary and Mr. Benn.
BANK RECEIVER SUES ON STOCK Collection of $10,000, plus attorney fees of $1,200, is sought by E. B. Benn, as received for the Olympia National bank in suit filed in federal court Wednesday against Flora B. Christenson of Olympia. The money is sought under three causes of action, each seeking assesments on capital stock of the failed bank. Benn, former United States marshal, is also acting as receiver for the First National bank of Kelso.
BANK RECEIVER REPORTS ON CONDITION Assets of Defunct Olympia National, Amounts Collected and Sums Paid Out Related