First National Bank (Redwood Falls, MN)

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First National Bank Here Is Closed REDWOOD COUNTY'S OLDEST BANKING INSTITUTION CLOSED BY NATIONAL BANK EXAMINER TUESDAY MORNING. The First National Bank of Redwood Falls closed its doors Tuesday morning by order of F. S. McGarvey of Minneapolis, Examiner of National Banks. Following a meeting of the directors with Mr. McGarvey it was decided to suspend the business of this institution in the interests of its depositors. A statement relative to its opening has not been made by the Examiner in charge nor by any of the officials of the Bank. The reason for the failure of this bank is the same general cause that has resulted in the closing of State and National banks in other sections of the state. The falling off in deposits was possibly the chief direct cause for the examiner's action. The First National like many other banks, had apparently weathered the period of inflation and deflation, but finally succumbed to the demands upon its reserve by financial disaster which overtook a number of the firms and individuals doing business with it.

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Bank Receiver Named.

Redwood Falls, Minn., Aug. 5.—Special: The affairs of the First National bank, recently closed and turned over to the national banking officials, have been placed in the hands of L. R. Ewart, of Wells, Minn., who has been named receiver. Plans for the reorganization of the bank have not been completed.

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Minneapolis-More than 500 members attended the sessions of the Minnesota Funeral Directors' association here.

Windom-Fire, discovered by a small boy at the Tuthill Lumber Company yard caused approximately $15,000 damage.

Lake Wilson-Merchandise valued at about $2,000, and $48 in cash was taken from the Stebel & Fussky general store here by truck bandits.

Windom-During the past month, Charles Mathews, county agent, has placed 135 men on farms in the county to help with the harvest.

Fairmont Improvements totaling well over $250,000 for the first seven months of 1925 is the record for this city, one not heretofore equaled.

Fergus Falls-Congressman Knut Wefald, Nonpartisan League congressman from this district, announced that he will be a candidate for re-election to congress.

Ada-The First Methodist and German Methodist congregations have been consolidated here under the name of Community Methodist church. Rev. F. W. Henke is the pastor.

Northfield-At the annual meeting of voters in the Northfield school district a budget of $84,600 in estimated expenses for the schools of this city during the coming year was approved.

Owatonna Final arrangements have been made by a joint committee of the Steele County Farm Bureau and the Owatonna Chamber of Commerce for a Steele county booth at the Minnesota State fair.

Fulda At their regular meeting conducted at Valhalla, the Murray County Bankers association approved of the "ranger" type of bank protection that is being inaugurated in many nearby counties.

St. Paul-A four-hour fire which attracted thousands of spectators caused damage estimated at between $150,000 and $200,000 to the two storage houses of the Jacob Schmidt Brewing Co.

New Richland-Leading dairy farmers of the New Richland community will consign a large number of purebred and high grade dairy cattle to a sale to be conducted here at the close of the annual New Richland Dairy day celebration, September 24 and 25.

Dennison-Captain Martin E. Trench formerly of Dennison, was ordered to the Virgin Islands as governor in succession to Captain Phillip Williams who has held the post for three years and who is to return to the United States for medical treatment.

Redwood Falls-Affairs of the First National bank, recently closed, have been placed in the hands of L. R. Ewart of Wells, Minn., who has been named receiver. Plans for the reorganization of the bank have not been completed.

Granite Falls-The levy made by the county commissioners for highway purposes in Yellow Medicine county set a new record. The sum of $150,000 has been appropriated for road and bridge work for the coming year.

Hibbing-A train of more than 50 automobiles, bearing boosters from St. Louis county, the largest county in the state, arrived here on the eighth annual club booster tour. Nearly 200 members of the St. Louis County Club were in the party.

St. Paul-The people of Minnesota have $15,000,000 more in savings accounts in state banks now than they had a year ago, marking an unusual strengthening of bank conditions and of individual savings, A. J. Veigel, state superintendent of banks reported.

Shakopee-Routing of highway No. 5 in a northeasterly direction from the state reformatory for women through Shakopee to connect with Highway No. 51 is contemplated, according to a committee of citizens who interviewed State Highway Commissioner C. M. Babcock.

St. Paul-The largest paving order ever signed by the state of Minnesota, and the greatest expenditure for highway improvements ordered by the state in 1925, was announced, when the state highway department asked for bids on nearly 75 miles of paved roads on main trunk highways through the state. Paving will care for vital links in important systems running out of the Twin Cities in three directions, giving the state one continuous paved road 208 miles long, from southern Minnesota to Brainerd, and putting builders at work at once on paving along long, badly worn parts of the highway from Minneapolis to Mankato.

Waseca-Mrs. William G. Ward, widow of the last state Senator W. G. Ward, died at her home in Waseca. She was 74 years old and one of the pioneer residents of Waseca.

Hamline Frederick. Remington's masterpiece, "A Dash for Timber," will be a part of the fine arts display at the Minneosta state fair, September 5 to 12, when paintings illustrating the history of popular art in the United States during the past 50 years will be the special attraction for art lovers. Between 100 and 600 canvasses will be shown, according to Maurcie I. Flagg, art sects.

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Oct

7 to Dec. 30 TREASURY DEPARTMENT The Office of the Comptroller of the Currency, Washington, D C. October 7th, 1925. Notice is hereby given to all persons who may have claims against "The First National Bank of Redwood Falls," Minnesota, that the same must be presented to L. R. Ewart, Receiver, with the legal proof thereof, within three months from this date, or they may be disallowed. CHARLES W. COLLINS, Acting Comrtroller of the Currency. 13-tf

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Oct

7 to Jan. 6. TREASURY DEPARTMENT The Office of the Comptroller of the Currency, Washington, D C. October 7th, 1925. Notice is hereby given to all persons who may have claims against "The First National Bank of Redwood Falls," Minnesota, that the same must be presented to L. R. Ewart, Receiver, with the legal proof thereof, within three months from this date, or they may be disallowed. CHARLES W. COLLINS, Acting Comrtroller of the Currency. 13-tf

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Oct

7 to Jan. 6. TREASURY DEPARTMENT The Office of the Comptroller of the Currency,'Washington, D C. October 7th, 1925. Notice is hereby given to all persons who may have claims against "The First National Bank of Redwood Falls," Minnesota, that the same must be presented to L. R. Ewart, Receiver, with the legal proof thereof, within three months from this date, or they may be disallowed. CHARLES W. COLLINS, Acting Comrtroller of the Currency. 13-tf

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Oct

7 to Jan. 6. TREASURY DEPARTMENT The, Office of the Comptroller of the Currency, Washington, D C. October 7th, 1925. Notice is hereby given to all persons who may have claims against "The First National Bank of Redwood Falls," Minnesota, that the same must be presented to L. R. Ewart, Receiver, with the legal proof thereof, within three months from this date, or they may be disallowed. CHARLES W. COLLINS, Acting Comptroller of the Currency. 13-tf

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Oct

7 to Jan. 6. TREASURY DEPARTMENT The Office of the Comptroller of the Currency, Washington, D C. October 7th, 1925. Notice is hereby given to all persons who may have claims against "The First National Bank of Redwood Falls," Minnesota, that the same must be presented to L. R. Ewart, Receiver, with the legal proof thereof, within three months from this date, or they may be disallowed. CHARLES, W. COLLINS, Acting Comrtroller of the Currency. 13-tf

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Oct

7 to Jan. 6. TREASURY DEPARTMENT The Office of the Comptroller of the Currency, Washington, D C. October 7th, 1925. Notice is hereby given to all persons who may have claims against "The First National Bank of Redwood Falls," Minnesota, that the same must be presented to L. R. Ewart, Receiver, with the legal proof thereof, within three months from this date, or they may be disallowed. CHARLES W. COLLINS, Acting Comrtroller of the Currency. 13 tf. tf.

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Oct

7 to Jan. 6. TREASURY DEPARTMENT The Office of the Comptroller of the Currency, Washington, D C. October 7th, 1925. Notice is hereby given to all persons who may have claims against "The First National Bank of P.edwood Falls," Minnesota, that the same must be presented to i. R. Ewart, Receiver. with the legal proof thereof, within three months from this date, or they may be disallowed. CHARLES W. COLLINS, Acting Cometroller of the Currency. 13 tf.

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COURT NOW AT WORK ON CO.'S CRIMINAL CASES

(Continued from page one) continued. Below is given a list of the cases to be heard before the judge in chambers: In the Matter of the Collection of Personal Property Tax for the year of 1925 against State Bank of Lamberton; In the Matter of the Collection of Personal Property Tax for the year of 1926 against P. J. Brantman; John Bendixen against Walter K. Nelson; William Raveling, Receiver of Central Minnesota Loan and Investment Company against F. Shandera, et al; Wm. Raveling, Receiver of Southern Minn. Loan & Investment Co. against Knute Anderson, et al; A. J. Veigel, Commissioner of Banks, Receiver of the First State Bank of Walnut Grove against E. E. Coverse, et al; A. J. Veigel, Commissioner of Banks, Receiver of First State Bank of Walnut Grove against E. E. Converse, et al; First Evangelical Lutheran Congregation of Belview against M. F. Mommsen, et al, continued; A. R. A. Laudon, as Trustee against First National Bank of Redwood Falls and L. R. Ewart, receiver; A. J. Veigel, Receiver of First State Bank of Walnut Grove against Frank B. Pettit; L. R. Ewart, as receiver of the First National Bank against Otto Lindeman; Farmers State Bank of Belview against C. J. Scott, et al; In the Matter of the Appeal by Fred Potzler, from an Order of the Town Board of Morgan Township; H. A. Sodergren against C. J. Mealy, et al; Clara Vierling against John Vierling; John Bittner, et al, against E. P. Eickholt; In the Matter of the Appeal of J. A. Shank from an Order of the County Board; Wm. Kurtz, et al against August F. Bloedow; John Franta against John R. Becker; Marvin Mace against Emma Mace; Courtland State Bank against Pliny Terry, et al; Independent School District No. 84 against Charles P. Goblisch, et al; Hugh McPhee against August Fenske; F. R. Smith, Receiver of Bigstone State Bank, et al against Carrie Hanska, et al; Effie Masche, et al against John Haas, et al; Effie Masche, et al against John Haas, et al; Annie Carkhuff, and K. Neutson against J. M. Little, et al.

On the criminal calendar the case of the State of Minnesota against Albert Johnson was continued; In the case of the State of Minnesota against Henry Hoffman the defendant plead guilty to writing checks without funds and was fined $100.00. In the cases of the State of Minnesota against John Bauer and the State of Minnesota against Joe M. Hlarka the defendants plead guilty to issuing checks without funds and were fined $50.00 each and costs.