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B. V. CURRY IS NAMED Appointed Receiver for Traders' State Bank at Arkansas City. B. V. Curry of Topeka, who has been a special deputy in the office of the state bank commissioner for the last six months, was appointed receiver for the Traders' State bank at Arkansas City late this afternoon by Frank H. Foster, state bank commissioner.
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Failure of the Traders' State bank at Arkansas City, with losses which officials admit will probably ruff more than $100,000, is the same old story oi the long list of Kansas bank failates of the last four years-the story of a bank which the state banking department had known for months was in a bad condition but which was permitted to run on and take the people's money until it finally became impossible to further juggle affairs of the tottering institution.
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ARREST A BANK HEAD Victor E. Creighton of Arkansas City Charged With Statement. Victor E. Creighton, president of the Traders State bank of Arkansas City, which was closed nearly two weeks ago, has been arrested. Creighton is charged with making a false statement in a report to the banking department regarding condition of the bank. He has furnished bond for $7,500. Creighton is the first person arrested in connection with failure of the Arkansas City bank which recently closed its doors with $200,000 worth of bad paper, according to estimates by the state banking department. B. V. Curry, bank examiner, has been appointed receiver for the Peoples State bank at Geuda Springs and the Traders State at Arkansas City. He expects to complete checking of accounts April 1.
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TO WIND UP THREE BANKS B. V. Curry Will Manage Settlement of Three Institutions. Frank H. Foster, state bank commissioner, today announced appointment of B. V Curry as receiver for the Condon State bank of Oswego. Affairs of the Oswego bank were taken over by the state department several weeks ago following a showing that the bank's affairs had been improperly managed. Curry is a state bank examiner. He was recently named as receiver for the Traders' State bank at Arkansas City ond the Citizens' State bank at Geuda Springs. He will manage settlement of affairs of the three banks under his new appointment.
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CASHIER TO STAND TRIAL. Former Gueda Springs Bank Officer Faces $14,000 Fraud Charge. Arkansas City, April 3.-A. A. McFall, cashier of the Citizens State bank of Gueda Springs, which was closed on March 21, was arraigned in a local justice court today and waived preliminary on the charge of embezzlement of the bank's funds in the sum of $14,350. He admits the charge and confessed several days ago to Receiver D. V. Curry, who is in charge of the Gueda bank and the Traders State bank off this city. The case is expected to come up in the district court at Winfield on April 10. Bond in the sum of $7,500 was not made late today and McFall is with relatives here and in charge of an officer.
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B. v. Curry in Charge of Half Dozen Banking Institutions. Named Today as Receiver for Two Additional Banks. BIGGEST JOB IN BANKING DEPT. He Will Have Charge of All Settlement of Accounts. No Two of Them Are in the Same County. Frank H. Foster, state bank commissioner, today appointed B. V. Curry as receiver for two additional state banks. Curry is now in charge of six banking Institutions which have recently been closed by the state department. Commissioner Foster today named Curry to direct the settlement of affairs of the Farmers State bank at Washington and the State Bank of Hope at Hope. These banks were closed by the state department in the last two weeks, Both were declared to be insolvent because of excessive cattle loans. Receiver Curry has been with the state department as a bank examiner during the last six or seven months. He was formerly cashier of a bank at Almena and also had banking experience in Alma. He is a son-in-law of E. E. Ames, one of the most widely known national bankers in the middle west and chairman of the board of directors of the Central National bank of Topeka. A Big Banking Job. Curry's assignment as receiver for the six state banks is the largest job ever assigned anyone by the Kansas banking department. He will have charge of settlement of all accounts of the closed banks and will handle the work of disposing of the assets of the institutions. Reports in the state house are to the effect that several of the banks may later be reorganized State banks over which Curry will have control in the making of settlements are in widely separated towns. No two of the banks are in the same county. Some time ago Curry was named as receiver for the big Condon State bank of Oswego, Labette county, which failed early this spring. The bank was rated as one of the strongest in southeastern Kansas. In Charge at Arkansas City. short time later Curry was placed in charge of the Traders' State bank at Arkansas City. When Commissioner Foster decided to appoint a receiver for the bank, Curry was selected for the job. When the Traders' State bank closed its doors it took the Citizens' State bank of Geuda Springs, Sumner county, in the fall. It was explained in the state banking department that because of the close relations of the two institutions that the same person should handle the affairs of both. So Curry was named as receiver for the Sumner county bank. About the same time the Farmers State bank of Quenemo, Osage county. encountered trouble. The cashier committed suicide and the state department stepped in. J. H. Sandell. assistant state commissioner. stated today that Curry was also receiver for the Quenemo bank. Last week when the state department decided to close the Farmers State bank at Washington, WashingBD. county, Curry was one of the two examiners sent to the town to take over its affairs. He was today given complete control over the bank thru his appointment as receiver. To Have Local Assistants. C The bank at Hope, Dickinson counf ty, failed less than two weeks ago. Curry is to also manage its affairs and direct settlement of its accounts for the state state banking department. It was explained today that a local assistant would be assigned to Curry o in each of the towns. The work of the local assistant, however will be largely clerical.
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PAYS BACK THE DEPOSITS. Arkansas City Bank Customers Start Receiving Their Cash, Arkansas City, Kan., July 21.-E. H. Armstrong, in charge of the defunct Traders' State bank here, today began distributing the depositors certificates of deposit from the state bank guaranty fund for those claims, including checking accounts, saving accounts and individual deposits amounting in all to approximately $527,000. These certificates, it was announced, will run until the bank is liquidated and will draw from 3 to 6 per cent interest.
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STATE CONTROLS TEN BANKS B. V. Curry Is Official Receiver for All Institutions. Ten state banks are now closed and under control of the state bank commissioner. B. V. Curry, an assistant bank commissioner, is the official receiver of all ten of these institutions. In addition to the ten, there are nine banks in the state now operating under individual receivers. The ten banks under state control and of which Mr. Curry is receiver: Farmers' State bank, Washington. State Savings bank, Leavenworth. Farmers' State bank, Quenemo. C. M. Condon & Co., State bank, Oswego. Traders' State bank, Arkansas City. Citizens State bank, Geuda Springs. Exchange State bank, Wichita, State bank of Hope. Citizens' State bank, Harper. Farmers State Bank, Belmont. Mr. Curry has just been appointed receiver of the Citizens State Bank of Harper, the last bank to be closed by State Bank Commissioner Foster. Following -are the institutions now operating under private receivers: Citizens State Bank, Manhattan. People's State Bank. Salina. Broeker-Lefferdink Bank, Salina. Farmers and Merchants Bank, Pawnee Rock. Farmers State Bank, McCune. Viola State Bank, Viola. Aulne State Bank, Aulne. Hanover State Bank, Hanover. Farmers State Bank, Spring Hill.