National Bank (De Pere, WI)

Article Text

CONFERS WITH KILEY REGARDING THE BANK

Milwaukee—(AP)—The receiver for the closed National bank of De Pere yesterday conferred with Omer M. Kiley, former De Pere mayor and former cashier of the bank, in jail here after admitting embezzling about $100,000 of the institution's funds.

The receiver, L. J. Bosworth, refused, because of regulations involved in his official position, to state the outcome of the conference. However, it was understood the discussions centered about how Kiley might assist in untangling the bank's affairs.

The banker is held under $20,000 bond to await grand jury action.

THREE BANKS OPEN.

Stanley, Wis.—(AP)—Three banks, closed several months ago because of financial difficulties, have reopened for business in this territory.

The institutions are: The Farmers and Merchants bank, Stanley; the Northwestern State bank, Chippewa Falls, and the Bank of Elk Mound, Elk Mound.

Officials said the conditions of the banks were such that "their communities will not suffer materially from the closings." The banks have been reorganized.

Article Text

BAIL; TO RECEIVER

Spends First In SeDay clusion, May Make Statement Later.

DE PERE Wis Released the county der Omer M. former cashier of the De Pere National bank. was ready to help out the institution's tangled affairs today Kiley arrived De Pere on the Milwaukee road train night. in company his brother. W. Kiley. also one of men He went directly to his home and remained in clusion intimated that he might have statement later. Kiley was his arrest by United States orities Feb. charges embezzling more of the bank's funds. He has admitted the estimated the amount involved would total more Friends strenuous effort raise the bond that Kiley could Bosworth. receiver, in going over the accounts. The bond executed the banker's brother Walter Kiley. and William of Pere Bosworth has that 79 stockholders the bank will be sessed

Article Text

$57,000 OF CLAIMS NOT FILED AGAINST CLOSED DE PERE BANK

Receiver Requests That Depositors Present Claims to Avoid Disallowance.

DE PERE days remain filed against the National bank of De Pere. clos. Feb. and claims aggregating nearly not been filed by was said today the receiver, Bos worth. Those who have neglected file their claims asked by worth do without further delay. When the bank was closed by der of the directors on Feb. 15. after

Article Text

BANK RECEIVER GETS $4,500 ON KILEY BOND

DE PERE-A check for $4,500 from the American Surety company, New York city, was turned over by the company's De Pere Agency, Smith and Smith to J. Bosworth receiver of the National bank of De Pere. yesterday afternoon in settlement in full on the bond it carried on the bank's former cashier. Omer M. Kiley. The American company is the second to meet its obligation by paying the amount of the cashier's bond. The first company paid $2,500. making total of $7,000 paid to date of the total carried by the cashier. One more company carried $3,500 and when that is paid the bank will receive total of $10,500 from surety companies.

AUXILIARY TO MEET DE PERE-The American Legion auxiliary will meet tomorrow night at the Legion building. and the president. Mrs. Earl Walsh, and the secretary, Mrs. Louis Plog. will report on the ninth district conference held here last week. Plans will be completed for the sale of memorial poppies next Saturday.

DE PERE PERSONALS Mrs. Kate Sullivan returned yesterday from St Mary's hospital, Green Bay, where she received treatments for five weeks She is at the home of James Manning, 918 Third-st Miss Nell Peters arrived from Milwaukee yesterday to spend a vacation here.

Article Text

$119.000 CASH ON HAND FOR BANK'S CLAIMS

Over 80 Per Cent of Stock Assessment Paid to Date.

DE PERE Cash amounting to $119,046.14 is in the hands of the comptroller of the currency to the credit of the National bank of De Pere, revealed in the latest quar terly statement issued today by the bank receiver. L. J. Bosworth. This statement shows the condition of the bank at the close of business Sept 30, and is as follows: Assets

Bills receivable $639 699 Cash hand $5,019.25 on Assets other than bills receivable and cash on hand $168,312.60 Additional assets acquired Stock assessment $100,000.00 Total of all assets coming into the hands of receiver $946,141.0 Remaining Assets Uncollected Bills receivable $464,116.40 Assets other than bills receivable $124,551.15 Additional assets acquired Stock assessments $19,885.88 Total assets uncollected. $629,645.56 Liabilities Total claims proven on unsecured liabilities $551,689.50 Total unproven unsecured claims $26,380.87 Total additional liabilities proven $3,215.48 Total of all liabilities $581,285.85 Dividends paid during last quarter $110,765.21 Dividends paid prior thereto. None Total dividends paid to date $110,765.21 Cash on hand $119,046.14 Progress in the liquidation of the affairs of the closed bank is shown in the statement. The collection of stock assessments has reached total above $80,000. approximately 80 percent of the bank's capital, $100,000. An 80 percent collection is above the Since the statement of June 30. the amount paid by stockholders amounted to $20,219.15. leaving $19,885.88 unpaid. The total assets uncollected was reduced $70,539 56 in the last three months, and the bills receivable were reduced $56,026.67 in that period. The large amount of cash In reserve is being held pending the adjudication additional claims filed, it is understood.

Article Text

FILES SUIT

Milwaukee, Feb. 18—(AP)—L. J. Bosworth, receiver for the closed National Bank of DePere, filed suit in federal court yesterday to collect $7,000 from the C. A. Lawton company of DePere on a promissory note held by the bank. A similar suit for $500 against the Auto Exchange, Inc., Green Bay, also was filed.

Article Text

APPROVE BID ON OF BANK SITE

Judge F. A. Geiger Authorizes Sale to Frank Schumerth.

DE PERE-Authority to sell the lot, building. fixtures and furnishings of the National bank of De Pere to Frank Schumerth was granted by Judge F. A. Geiger in federal court, Milwaukee, Saturday, to the bank receiver, L. Bosworth, according to Jerome R. North, the receiver's attorney. The bid of $10,000, submitted sevetal weeks ago by Mr. was not the date of the expiration notices by the receiver, and the sale to the De Pere furniture and undertaker was approved. Formal transfer of the property will shortly. it assumed, although Mr. Bosworth was not his office today to confirm such an Although Mr. Schumerth is buying the property of the bank, which was closed Feb. 15. 1932, it is not his intention to hold it, it is understood. Negotiations for the acquisition of the building and furnishings to the State bank of De had been discussed by the officers Mr. Schumerth filed his and understood that the are to meet at convenient this week further into the deal. The National bank building larger than the and occupied, by the State bank, contains greater vault space. Both properties are lo. cated the Broadway, between George and James-sts.

Article Text

JUDGE GEIGER PRESIDES AT GREEN BAY HEARING

GREEN Federal Judge Geiger, Milwaukee. day opened hearing on actions recover bonds from the closed National Bank DePere. The against Bosworth bank receiver allege certain bonds were placed the bank. for safekeeping and should not be considered as part the bank's assets. Omer Kiley, cashier now term at Leavenworth prison for the institufunds, was here der guard testify in the

Article Text

Seek To Recover Bonds From Bank

By United Press

Green Bay. — Federal Judge F. A. Geiger, Milwaukee, today opened a hearing on actions to recover bonds from the closed National Bank of DePere.

Article Text

By United Press

Green Bay. — Federal Judge F. A. Geiger, Milwaukee, today opened a hearing on actions to recover bonds from the closed National Bank of DePere.

The suits, against L. J. Bosworth, bank receiver, allege certain bonds were placed in the bank for safekeeping and should not be considered as part of the bank's assets.

Omer Kiley, former cashier now serving a term at Leavenworth prison for misappropriating the institution's fund's was brought here under guard to testify in the actions.

Article Text

Wins Judgment Against Bank

DePere Man Awarded Judgment Against Bank Receiver by Geiger

Green Bay, Wis. — (U.P.) — Joseph Minch, De Pere, today held a $20,000 judgment against the receiver of the closed National Bank of De Pere.

Federal Judge F. A. Geiger of Milwaukee entered the judgment for Minch in his suit to recover bonds placed in the bank for safekeeping. He charged that the bonds were taken by Omer M. Kiley, defaulting cashier, and converted to his own use.

Kiley, brought here from Leavenworth penitentiary to testify, admitted that interest payments to Minch in the bank's records were fraudulent.

Article Text

$59,447 ON HAND AT DE PERE NATIONAL BANK

DE PERE-Cash in the hands of the receiver of the National bank of De Pere and of the comptroller the currency amounts to it revealed in the latest statement of conditions of the bank just issued by the receiver, L. Bosworth does not include $10.000 which agreed recently to pay while making a compromise offer the receiver. Total remaining uncollected assets amount to $230,067 the statement shows The amount of cash collected from and stock assessment is since the receiver began functioning in February of 1932. the the bank suspended operation Collections from other est. premium, rent, etc., bring the total to $383,173.