First National Bank (Sidney, NE)

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BANK CLOSES DOORS Sidney, Neb., May 11.-The First National Bank of Sidney closed its doors today. Officers say it Is not insolvent. and that the suspension is temporary brought about by the existing financial stringency Closing of the bank It was stated was due to the fact that withdrawals reduced the reserve below the point of safety. A depositor precipitated the closing by presenting a check for $10,000 when there was not that much cash on hand. The bank had a capital stock of $25,000 and deposits of $424,000. W. E. Swartzlander is president and Leslie Neubauer, cashier.

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New Bank Chartered

Sidney.-The Sidney National bank has been chartered and will open about May 1. This new bank will take over the business of the First National bank of Sidney. which closed May 10, 1921, and will pay depositors in full under a certificate of deposit plan, which has been approved by the comptroller of the currency at Washington, D. C. The officers of the new bank will be Francis A. Chap. man, president; Ralph S. Price, vice president, and Charles L. Mann, cashier. The capital stock will be $50,000 with a paid up surplus of $25,000 at the start. There will also be organized and operated in the same building the Sidney Investment company with a capital stock of $300,000 and surplus of $200,000. They will handle the investments of the closed First National bank and act as holding company for the loans and deposits of the defunct bank. The officers of the Investment company will be Francis A. Chapman, president and Ralph S. Price, secretary and treasurer, with W. F. Swatzlander as general manager. This company will attend to the liquidation of the assets of the First National bank. Mr. Chapman, the president of the institutions, comes from Colorado, where he has had banking experience. He also has been the receiver of the First National bank of Sidney, Chappel and Bridgeport. Mr. Price has been assistant to Mr. Chapman and was formerly engaged in the banking business in Grand Island, where he was associated with the Grand Island State bank. Mr. Mann has lived in Sidney for several years and was formerly assistant cashier of the First National bank. - The new bank will occupy the quarters formerly occupied by the First National bank.

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Over Nebraska

Sidney—William Zigler, pioneer, died here.

Sidney—With one exception, all councilmen were renominated.

Sidney—Five inches of moisture has fallen here within the past ten days.

Neligh—Neligh High won a state league debate from Ewing by a 2 to 1 decision.

Callaway—Almost two feet of snow has fallen here in the past fortnight.

Humboldt—O. A. Cooper, 73, pioneer miller of this place, is dead after a long illness.

Pawnee City—The local legion post is sponsoring the formation of a women's auxiliary here.

Kearney—Fire in the basement of the Ohlson-Henning drug store caused a $1,500 loss. Origin is unknown.

Grand Island—Fred Meyer, farmer, was seriously hurt when kicked by a horse. He was brought to a local hospital.

Neligh—Eight northeastern Nebraska schools are entered in the sectional declamatory contest to be held here.

Sidney—The First National bank, through its receiver, Francis Chapman, has begun payment of a 15 per cent dividend.

Ravenna—A faithful dog which came at his call probably saved the life of W. Harrington when he was attacked by a large hog.

Fremont—Members of the school board of the German Evangelical Lutheran synod of Nebraska held a meeting in Fremont Friday.

Fremont—Midland's new fraternity, Phi Kappa, will make its first public appearance by presenting a play at a local theater on April 9.

Scottsbluff—Union services of the Christian, Methodist, Baptist and Presbyterian churches are attracting crowds of 300 and 400 each night.

Pawnee City—The week preceding Easter has been designated as "clean-up" week and boy scouts will have charge of the city-wide campaign.

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MANN NEW NATIONAL BANK RECEIVER ASSISTANT HERE

Ralph S. Pryce, assistant receiver of the defunct national banks of here and Chappell, has resigned and expects to leave this week for Alliance, where he will engage exclusively in the undertaking business. He will not remove his household goods for a few days, however. Mr. Pryce's duties as assistant receiver of the First National bank of Sidney will be assumed by Charles L. Mann.

Mr. Pryce has received fine offers to enter the banking business in Nebraska but believes he can better himself by going into business for himself. Alliance, previous to his entrance, did not have an exclusive undertaking establishment. He divided his time between the Sidney and Chappell institutions. The Sidney bank has already paid a 15 per cent dividend and another of unknown percentage probably will be paid next winter, Mr. Pryce declared.

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RESIGNS AS ASSISTANT BANK RECEIVER

Ralph S. Pryce, of Sidney, who has been assistant receiver of the Chappell First National Bank and also of the defunct First National Bank of Sidney, has resigned his appointment, and is to leave Sidney to make his home at Alliance, Nebr., where he will engage exclusively in the undertaking business. Previous to the entrance of Mr. Pryce's business Alliance had no exclusive undertaking establishment, we understand, so the field of Mr. Pryce's new chosen endeavor should offer splendid opportunities.

Mr. Pryce and family made their home in Chappell about a year following his appointment as assistant receiver of the First National bank, going to Sidney to reside after his appointment to the assistant receivership of the Sidney bank, and has since divided his time between the two institutions. We understand that Mr. Pryce has received fine offers to become interested with several well known Nebraska banking institutions to which his extensive experience in financial matters is a readily recognized asset, but it is Mr. Pryce's belief that he will find greater opportunities in a different field, so he is going into business for himself.

His position as assistant receiver at Sidney will be assumed by Mr. Chas. L. Mann of Sidney.

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SIDNEY MEN RECEIVERS OF ALBUQUERQUE BANK

Francis A. Chapman, United States National bank receiver, and assistant Charles Mann left last Friday for Albuquerque, N. M., to take charge of the State National bank there. Mr. and Mrs. Chapman will make their residence at Albuquerque while winding up the affairs of the bank. Mr. Mann will assist him probably two or three months.

Harry Wilson, assistant to Receiver Chapman, who has been in charge of the First National bank at Chappell for several months, has taken charge of the affairs of the First National bank of Sidney. He was formerly associated with the winding up of the affairs of the Sidney bank. The assets and property of the Chappell bank have been sold and the receivership of that bank has practically come to a close.

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Final Dividend Awaits Defunct Bank's Depositors Sidney, Nov. 28.-Receiver Wilson of the defunct First National bank, is unable to deliver dividend checks to many former depositors of that institution. He has recently announced the last dividend of 28 per cent, but letters to scores of depositors, telling them the money is ready for them. have received no response. He has thousands of dollars on hand that he is unable to deliver to the depositers.

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SUIT GOES TO JUDGE

Read Testifies That Note Not Owned by Bank.

Special Dispatch Sidney, Feb. Read, former vice-president of the defunct First National bank here testified that thousand dollar note claimed by James Connell to be forgery was the property of H. Read, former president, not of the bank. Spurway, bank receiver, is suing Connell for collection on notes held by the bank. The case was given to Judge H. Mantz Monday night.