State National Bank (Albuquerque, NM)

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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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SUITS BROUGHT TO LIQUIDATE BANK'S LOANS

Receiver for State National Brings Action Against Cattle Interests Totaling Quarter Million

Santa Fe, N. M., June 17.—The first step toward liquidation of cattle loans involving a quarter of a million dollars was taken in the United States district court here today, when Francis A. Chapman, receiver for the State National bank of Albuquerque, filed three bills in equity seeking foreclosure of the Nunn and Latham interests in Sierra county, New Mexico. In addition to judgment of foreclosure, the bills ask for the appointment of a receiver to take charge of the various herds of cattle and ranches and a demand is made for an accounting of all the assets pledged as security at the time the loans were made.

The pleadings in the bills are long and technical and disclose that the loans are what are known as "split loans," and for that reason many defendants are named. It is understood that the notes which make up the total indebtedness are owned by the State National bank of Albuquerque, the Sierra county bank of Hillsboro, the City National bank of El Paso and the State Trust and Savings bank of Albuquerque. All of the banks named are now in the hands of receivers.

Hearing Next Monday

Following the filing of the bills today the court ordered the defendants to show cause before Monday next why a receiver should not be appointed to take over and control all of the property described in the chattel mortgages and deeds of trust described in the pleadings.

In the first suit filed, Mr. Chapman, as receiver for the State National, names the following defendants: Nunn and Latham, a corporation; J. P. Nunn, D. M. Nunn, Emmett M. Nunn, Arch Latham, Cora Latham, Albert H. Denton, receiver of the City National bank of El Paso, Texas; Walter C. Hammell, receiver of Sierra county bank and T. K. D. Maddison, receiver of the State Trust and Savings bank of Albuquerque. This suit involves approximately $82,090, plus interest. The receiver for the State National asks judgment for $25,000 of this sum.

The second suit names as defendants L. C. Latham, Ella P. Latham, Arch Latham, Albert H. Denton, receiver of the City National of El Paso; Walter C. Hammell, receiver of the Sierra county bank, and T. K. D. Maddison, receiver of the State Trust of Albuquerque and involves a total of approximately $72,000 plus interest, of which amount Receiver Chapman asks $11,279.92.

The third suit, involving a total of approximately $50,000 plus interest asks specific judgment in favor of Receiver Chapman for $22,000 and makes as defendants Arch Latham, Nellie Latham, Cora Latham, Albert Latham, Receiver Denton of the City National, Receiver Hammell of the Sierra county bank and Receiver Maddison of the State Trust of Albuquerque.

The cattle interests affected are large outfits and control numerous ranches and grazing privileges in the southern part of the state. A United States deputy marshal left this afternoon for Sierra county to serve papers on the defendants.

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Bank Receiver Sues to Collect on Note

SANTA FE, N. M., July 26.—Francis A. Chapman, receiver of the State National bank of Albuquerque, filed suit in federal court today against Joe Mangum, Kay Mangum, Thomas K. D. Maddison, receivers of the State Trust & Savings bank of Albuquerque, Frank B. Mapel, receiver of the Gallup State Bank of Gallup; Levi Hughes, receiver of the Livestock & Agricultural Loan company of New Mexico, and T. A. Pierce, trustee. Judgment is asked against the Mangums for $25,000 and $8,000 with interest. It is prayed that a chattel mortgage, dated October 10, 1922, be declared a valid first lien on all property desired in the complaint, to secure the judgment, that the property be sold and a receiver named. It is alleged that the Mangums, who live in San Juan county, executed a promissory note for $25,000 to the State National bank of Albuquerque, and another for $8,000, which had been made to the Mangums by Tom Rogers.

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BANK RECEIVER SUES ON STOCK ASSESSMENTS

Two suits were filed today in the U. S. District Clerk's office by Francis A. Chapman, receiver of the State National Bank of Albuquerque, to recover on stock assessments. One suit was against T. J. Ross, for $10,000, on an assessment ordered on 100 shares at $100 each. The other suit is against Thomas De Lallo for $2,500 on 25 shares at $100 each. Plaintiff's attorneys are Downer and Keleher, of Albuquerque.

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BANK RECEIVER SUES MERRITT FOR $14,962

Albuquerque, N. M., Oct. 8.—F. A. Chapman, receiver of the State National bank, has filed suit in the federal district court against Ross M. Merritt for $14,962.67. Of this amount $1,000 is alleged to be due as stockholders' liability and the rest on promissory notes.

He also filed suits against Antonio Ortiz for $2,115; against W. L. Childers for $427.98 and against F. A. Sahd for $2,536.18, all alleged to be due on promissory notes.

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KASEMAN SUED FOR $100,000 BY DUKE CITY BANK RECEIVER

Charging that the sum was withdrawn from the now defunct State National bank of Albuquerque just before it closed its doors and "appropriated to the individual use and benefit of the defendant", F. A. Chapman, receiver of the bank, has filed suit in the federal court against George A. Kaseman, former stockholder and director in the bank, for $100,000.

This suit is similar to one filed by the depositors some time ago, but later dismissed on motion of the depositors.

Another suit by the depositors against Kaseman for $59,315.54 also was dismissed.

The complaint in the $100,000 suit alleges:

That after the closing of the bank on January 16, Roy McDonald, vice president of the institution, in a telephone conversation, directed the federal reserve bank at El Paso, Texas, to transfer out of funds of the State National bank of Albuquerque on deposit in that institution $50,000 to the New England National bank of Kansas City to the credit of G. A. Kaseman and $25,000 to the City National bank of El Paso, to the credit of G. A. Kaseman. And further, that on the morning of January 17, the State National bank of Albuquerque telegraphed to the New England National bank of Kansas City instructing that institution to transfer $25,000 of the funds of the State National bank to the credit of G. A. Kaseman.

The bank closed on the morning of January 17.

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BANK RECEIVER SUES G. A. KASEMAN AND O. N. MARRON FOR OVER $36,000

Suit was filed in the U. S. district clerk's office here today by Francis A. Chapman, receiver of the State National bank of Albuquerque vs. George A. Kaseman and O. N. Marron, asking judgment for $36,415.86 and interest as provided by law and costs. The attorneys for plaintiff are Downer & Keleher, Rodey & Rodey, of Albuquerque, and Wilson and Perry of Santa Fe.

This is over a $50,000 bond alleged to have been given by defendants to the county of Bernalillo guaranteeing deposits of that county in the State National bank. It is alleged certain notes were deposited by defendants as indemnity on the bond amounting to $70,437.67 and that later defendants turned over the notes belonging to the bank to F. H. F. Brewer Jr., examiner in charge of the bank, and that Brewer paid $36,415.86 to G. A. Kaseman out of money belonging to the bank.

SUIT OVER SAFETY APPLIANCE

Suit was filed by the government vs. the A. T. & S. F. railway, asking alleged damage in the sum of $200 for alleged violation of the safety appliance act charging that the uncoupling apparatus on a box car, going out of Gallup, in an easterly direction, was out of order on August 27, of this year.

BANKRUPTCY MATTERS

The petition of William W. Ogle, of Roswell, to be discharged from bankruptcy was referred to Howard C. Buchly of Roswell, for a hearing December 5, by U. S. District Judge Neblett today.

Jacob C. Efromson, of Tyrone, was ordered discharged from bankruptcy.

The petition of Ralph L. Hicks of East Las Vegas to be discharged from bankruptcy, was referred to Referee Fullerton at Santa Fe for December 5; that of William R. Neal, of Albuquerque, to Referee Taylor, of Albuquerque, for December 5; and that of Robert R. Garrison of Hagan, to Mr. Fullerton at Santa Fe for December 5.

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BANK RECEIVER FILES SUIT FOR $500 ON A STOCK ASSESSMENT

Suit was filed in the U.S. district clerk's office here today by Francis A. Chapman, receiver of the State National bank of Albuquerque, against Mrs. Jane L. Walsh Dunlap, asking judgment for $500 and interest. Suit is over an assessment on five shares of stock. George S. Downer, of Albuquerque, is attorney for plaintiff.

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URGES LICENSES FOR BUSSES.

Mayor's Traffic Committee Advocates Curb on Parking.

A license for busses, designating the routes and stops, is recommended in an incomplete report of the mayor's traffic committee.

The report was read at a meeting of the committee yesterday at the Mid-Day Club.

The recommendation on the operation of the interurban busses was they should not enter the congested district between Eighth street, Thirteenth street, McGee street and Wyandotte street.

The committee recommended also private motor car parking on streets in the congested district used by the city service busses be prohibited so as to give the busses a clear way.

The committee will continue work on the report. The members:

John Prince, chairman, David Charles, William F. Fleming, W. S. Osgood, C. C. Peters, Nelson S. Riley, Robert Woods, Andrew Young, Herbert M. Woolf.

SUES NEW ENGLAND NATIONAL.

Albuquerque Bank Receiver Says Local Concern Holds $22,498.

The receiver for the closed State National Bank of Albuquerque, N. M., yesterday sued the New England National Bank of Kansas City in federal court for $22,498.33.

The receiver for the Albuquerque bank alleged that when the bank was closed January 1, this year, the institution had $35,439.75 on deposit in the New England National Bank. It was alleged the New England National Bank withheld $22,498.33, the amount claimed in the suit, in settlement with the receiver.

Blatchford Downing, attorney for the New England National Bank, said the money was held in the Kansas City Bank to satisfy a claim against the Albuquerque bank.

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FILE PETITIONS IN BANKRUPTCY

Two voluntary bankruptcy petitions have been filed in the U. S. District court.

Frank Knoblock, Jr., of Magdalena, lists debts of $22,443.95, (unsecured claims) and $150, (taxes due the state) and assets of $400, including a half interest in two lots in Magdalena, which he values at $300, five head of horses at $75 and wearing apparel at $25.

Among the debts are First National bank of Magdalena, $420; same, $1,695.17; same, $2,665.22; same, $121.20; same, $147.46; same, $325; Becker-Mactavish Co., Magdalena, $1,653.47; same, $505.45; MacDonald Co., Kelly, $607; all on notes); Becker-Mactavish Co., $210.09 (goods bought on open account); Federal Reserve bank, Dallas, Tex., $5,425.25; First National bank of Magdalena, $5,513.73; Bank of Magdalena, $3,150.91 (on judgments).

John Jones of Quemado lists debts of $33,633.98, including $1,050 taxes, and $32,583.98 secured claims and assets of $1,192.

The secured claims are State National bank, Albuquerque, $18,727.66; State Trust & Savings bank, Albuquerque, $13,856.32.

BANK RECEIVER SUES ON NOTES

Francis A. Chapman, receiver of the State National bank of Albuquerque, filed suit in the U. S. District court against Frank M. Gomez, Toney Gomez, Refugito R. de Gomez and Jose P. Gomez on promissory notes.

The receiver asks judgment for $3,000 with interest at 8 per cent from Dec. 14, 1923; the amount of interest on $3,000 from Dec. 14, 1923, at 8 per cent; the amount of interest on $4,121.23 from Dec. 14 at the same rate; 10 per cent on the amount found due and unpaid for attorney's fees and court costs.

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TEN NEW MEXICO BANKERS INDICTED

Federal Grand Jury Reports at Santa Fe Scoring National Laws.

SANTA FE, N. M., March federal grand jury here late today indicted number prominent New Mexico bankers, including a group involved in the failure of the State Bank and Trust company and the State National bank, of Albuquerque. Violation and conspiracy to violate the federal banking laws are alleged. Defendants named are: J. B. Herndon, Roy McDonald, George A. Kaseman, Ross and Dr. M. K. Wylder, of Albuquerque: Cecil E. Bigelow, Henry T. Brewer, Jr., former bank aminer: Guy W. Blakely, H. Smith, of Roswell, and W. D. Murray, of Silver City. in some cases numerous indictments are brought against the same individual. The national banking laws were heavily scored in report by the grand jury. "It appears," says the report, "that some provision other than those now provided in our laws should be made to punish those responsible for such con. The report recommends laws providing criminal prosecution for granting of excess loans prohibiting formation of livestock loan companies by banks to take care their excess loans; penalization for excessive loans to officers and directors. making all overdrafts part of the bank's prohibiting man from acting as an officer of two banks and control stock by one individual or family: forbidding bank examiners to borrow money from examined banks; and requiring approval of loans in writing by discount commitfee. It is recommended that no tional bank be allowed to accept de. posits while insolvent. John R. Gaunt, former head of the defunct Reserve bank at Reserve, N. M., and postmaster there, was sentenced to two years in Leavenworth and a $5,000 fine for fraud in connection with $100 postal order. M. Nell Smith, assistant cashier of the bank. was given a year and day in the prison, and Mrs. Ida Jones, assistant postmaster, was fined $250.

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Federal Court

Federal Judge Neblett today sustained the defendant's motion in the case of Nova E. Myrick, because the suit has not been brought within six years after the date of the patent on the homestead. An order was signed by Judge Neblett in the case of the state of New Mexico vs. the State National bank of Albuquerque, N. M., and Francis A. Chapman. receiver of the State National bank of Albuquerque The order sustains the demurrer and dismisses the bill of complaint. In the matter of Almon P. Orier, bankrupt. Judge Noblett signed order disqualifying R. P. Fullerton referee in bankruptcy. If orders the matter be referred George C. Tay lor another referee in bankruptcy in this court. Judge Neblett signed an order allowing payment of attorney's fees in the case of Joseph S. Skarda. bankrupt further orders the payment of other expenses in connection with the case.

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RETAIN CASE VS. SURETY CO.

Sandoval County Commissioners Engage Sedillo and Venable. Subject to Approval of State Officials

The Sandoval county commissioners at meeting at Bernalillo Tuesday afternoon decided to retain Sedillo and John Venable as attorneys for the county its suit against the National Surety company to recover Sandoval county money on deposit in the State National bank of Albuquerque when it closed its doors on January, 17. 1924. This federal case and therefore out of the jurisdiction of Mr. Sedillo and Mr. Venable district attorney and assistant district attorney. The Sandoval county commissioners retain them, incounsel. Mr. Sedillo brought the suit, which was for against the surety district court soon after took office year ago. The was transferred federal where judgment of secured for the county being amount due after the deduction of dividends paid the county by the bank The appealed the case, and the to prosecute in the circuit court of appeals. Mr. Sedillo, with them, suggested that they special as he and Mr. Venable did not care to continue the case in federal court. The wished to Mr. Sedillo and Mr. Venable, they were already millar with the case, voted pay retainer of subthe of Judge Milton Helmick, Comptroller H. Carter and Governor T. Hannett.