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RFC Loan Asked for Failed Kearney Bank KEARNEY, Jan. 17.-To ex. pedite payment of another dividend by the failed Farmers State bank here, Receiver E. H. Luikart of Lincoln has applied to District Judge B. O. Hostetler for permission to mortgage remaining assets of the bank to the RFC for $145,Hearing on the matter will be held Jan. 27. the loan is granted by the RFC, depositors will receive dividend of 35 per cent, which will make 70 per cent of the deposits repaid.
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FAILED BANKS GET R. F. C. CASH LOAN Washington, May 24. (P)-Receivers of closed Nebraska banks were' authorized to borrow $2,022,653.43 from the Reconstruction Finance corporation between February 2, 1932, and May 18, 1934, Jesse H. Jones, chairman, reported today. The largest individual loan authorized in Nebraska was $175,000 to the Farmers State Bank of Columbus. The Farmers State Bank of Kearney borrowed $141,750. and the Norfolk National bank received $130,000. Besides the loans to closed bank receivers, the RFC also authorized a loan of $50,000 to the Fremont Mortgage company. The table of loans to closed bank receivers includes Auburn. First National Bank of Auburn. $26,000 First National Bank of Auburn. $23,000. Aurora. Fidelity State Bank, $49,675. Columbus, The Commercial National Bank Columbus, $60,000; Farmers State $175,000. Fremont, The Union National Bank of Fremont, $85,000. Holdrege Phelps County Bank, $50,000. Hooper, Hooper State Bank, $40,000. Litchfield, The First National Bank of Madison. The First National Bank of Madison, $83,000. McCook Farmers & Merchants State Bank, $26,000. Norfolk, The Norfolk National Bank, $130,000 Platte Center, Platte County Bank, St. Edward The Smith National Bank of St. Sterling, First State Bank. $31,000. West Point. The Point National Bank, $50,000; West Point National Bank,
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Receivers of closed Nebraska banks to from the Finance corporation February 1934, reported. largest dividual authorized in Nebraska $175,000 Farmers State bank Columbus. The Farmers bank of Kearney borrowed $141,750 and the Norfolk National bank receiv $130,000. Besides loans closed the authorized loan $50,000 Fremont Mortgage company.
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STATE NEWS Dick Busacker of Talmage, fishing in the new channel of the Nemaha river near Talmage, unearthed what appeared to be a part of the jawbone of some prehistoric animal. The jawbone IS nearly three feet in length with eight teeth on one side and five on the other. The teeth are nearly three inches wide and the roots are deeply imbedded in the jawbone. The jawbone appears to be the upper part of the animal's jaw and the snout is spoon shaped Busacker saw the object in the river bed and waded through the shallow water to unearth it. The new channel is 20 feet deep and the water had apparently washed away the last covering of the soil. State Engineer Roy Cochran recently reported maintenance costs for Nebraska's state highway system last year were threequarters of a million dollars less than in 1930. despite a 1,500 mile addition to the state system being maintained. Cochran said part of the reduction was effected by improved practices and part by reducing the standard of maintenance in cases where temporary retrenchments could be made without greater additional maintenance cost in later years. The total maintenance bill last year was $2,282,135. compared with $2,833,527 in 1929. $3,043,508 in 1930. $2,854,968 in 1931 and $3.027,522 in 1932. The mileage increased each year. A. C. Tilley, maintenance engineer, said the average maintenance cost for a mile of gravel was cut from $439.64 in 1932 to $315.35 last year. of Approximately one-fourth the Nebraska taxes which became delinquent on May 1. 1933, had not been paid by February 1934. it was revealed at Washington recently. The figures were ohtained through a CWA survey. conducted by the department of commerce. The tabulation is based on returns from 81 of the 93 counties, and shows a delinquency in state and local taxes of 24.97 per cent. The survey covers only property taxes, which, in the counties covered. should have totaled $47,174.54 The total delinquency was $11,777,200. In Douglas county the total delinquency is $1,830,939, of a total property levy of $10,891,967-or 16.81 per cent Delinquency in other counties runs from 8.86 per cent up to the unprecedented high mark of 80.06 per cent. In 12 counties most of them in the drouth area of the north and west, less than half of the taxes had been paid. A meeting of the state relief committee has been called by Chairman W H. Smith for the first of June. to make allotments to counties for the month of June and to pass on matters which have come up since the last meeting including the 14 thousand dollar deficit for work relief incurred in ancaster county during May Federal Relief Agent Havnes est imates that it will take eight hundred dollars a day to meet emergency relief requirements of Lancaster county for the month The federal government has been asked to provide 550 thousand dollars for relief in Nebraska during June National Administrator Hopkins has already promised 276 thousand dollars for pecial relief to distressed farmers as an additional fund. and another 50 thousand dollars is expected to carry on rural rehabilitation work A compilation prepared in the federal state relief office shows that Lancaster county is spending the highest percentage of its own local revenues to meet relief needs of any county in the state Its proportion is 36 per cent compared with 34.4 in Dougles county. No other county is using as much as 30 per cent of its total income for relief purposes Funds for Nebraska's Sutherland project are expected to be available to the district within 30 days, it, was indicated recently after directors at North Platte finished executing two mortages and a temporary bond Daniel J Monen, trust officer of the Omaha National bank. said a requisition for 495 thousand dollars, the first federal cash for the project. was made out when he met with directors of the project recently. The first cash is to meet expenses of completing surveys, obtaining right of way and of initial construction. 18. 1934, Jesse H. Jones, chair man, reported. The largest in dividual loan authorized in Nebraska was $175,000 to the Farmers State bank of Columbus. The Farmers State bank of Kearney borrowed $141,750 and the Norfolk National bank received $130. 000 Besides the loans to closed bank receivers, the RFC also authorized a loan of 50,000 to the Fremont Mortgage company. State Treasurer George F. Hall recently announced purchase of $1,000,000 of U. S. treasury bills with current state funds on hand Hall has been worried about find ing a place to deposit state bal ances, large at this time of year He said the bills will mature the latter part of next November and were purchased at a discount of 07 of one percent SO that the state will obtain a vield of $350 interest which will go into the state gem ral fund The bonds were purchased through the l' S National Bank of Omaha
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Receivers of closed banks were borrow from the Finance between February May Jesse Jones, chairman, reported. The largest dividual authorized in Nebraska was the Farmers State Columbus. The Farmers bank of Kearney borrowed and the Norfolk National Besides the loans closed RFC also authorized the
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Receivers of closed Nebraska banks to borrow $2,022,653.from the Finance February May 1934, Jesse Jones, chairman; reported. largest dividual authorized Nebraska $175,000 to the Farmers State Columbus. Farmers Kearney $141,750. the Norfolk National bank receiv$130,000. Besides the loans closed bank receivers, the RFC authorized loan the Fremont Mortgage