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IS RECEIVER FOR PROSPER BANK 1119270 Receivers for four closed banks have been named by the banking board, O. E. Lofthus, state examiner, announced today. Those named are: Bank, of New Rockford-A. J. Nathan, of Bismarck. Scandinavian-American Bank of Fargo-L. C. Reed, of Fargo. Security State Bank of Columbus-Geo. Witty, of Columbus. Prosper State Bank of ProsperLieutenant-Governor Howard Wood.
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Receivers Are Named For Four Closed Banks Bismarck, N. D., March 10.-Receivers for four closed banks have been named by the banking board, O. E. Lofthus, state examiner. announced today. Those named are: Bank of New Rockford-A. J. Nathan of Bismarck. of Scandinavian-American Bank Fargo-L. C. Reed of Fargo. Security State Bank of ColumbusGeo. Witty of Columbus. Prosper State Bank of ProsperLieutenant-Governor Howard Wood.
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FARGO, N. D.-Lieutenant Governor Howard Wood has been named as receiver for the Prosper State bank at Prosper, Cass county, which was recently closed, according to announcement made today by O. E. Lofthus.
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OFFICERS OF CLOSED BANKS ARE RECEIVERS Is Administration State Loyally Taking Care Of Its Friends The Nonpartisan league state administration is showing unusual ability in taking care of its friends in connection with the appointment of receivers for many of the closed banks of North Dakota. The methods pursued might seem a little peculiar to some bankers, but evidently not to O. E. Lofthus, the talented state examiner, appointed by Governor Frazier, who has the appointing of the receivers. Out at Tolley; for instance, one A. M. Fruhs was president of the Tolley State bank, one the first banks to close. In spite of the fact that it was under his administration that he bank found It necessary to close up he has been appointed by Mr. Lofthus an re ceiver of his own bank, rather a novel stunt it would seem There seems to be similar confidence in the ability of A. A. Swanson, who was cashier of the Tolley State bank At least such would seem to be indi cated bv the fact that Mr. Swanson is receiver of the Merchants' State bank at Kenmare. Ebbert Also. Another friend of the administration is G. A. Ebbert, who was general man ager of the First Farmers' bank of Minot, another institution which is in the hands of a receiver. In spite of the fact that Mr. Ebbert was unable to keep his own bank out of the hands of a receiver, he is now receiver of the Mohall Security bank of Mohall. Incidentally it might be mentioned that Lieut. Gov. Howard Wood is whiling away the time between legislative sessions as receiver of the Prosper State bank. These are only a few of the cases that have come to hand. Presumably there are others
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LEGÁL NOTICES BANK ASSETS FOR SALE Sealed blds for the purchase of all the assets of the closed banks listed below will be received up to November 15, 1922: Farmers State Bank, Greene, North Dakota. W. E. Burgett, receiver, Flaxton. Citizens' State Bank, Edgeley, North Dakota. O. L. Engen, receiver, Fargo. State Bank of Milton, Milton, North Dakota. John Vallely, receiver, Grand Forks, First State Bank, Crystal Springs, North Dakota. H. B. Hanson, receiver, Crystal Springs. Bank of New Rockford, New Rockford, North Dakota. C. H. Reimers, receiver, Carrington. Peoples' State Bank. Leith, North Dakota. C. F. Kellogg, receiver, Bismarck. Peoples State Bank, Grand Forks, North Dakota. John Vallely, receiver, Grand Forks. Crocus State Bank, Crocus, North Dakota. Fred F. Walz, receiver, Egeland. Security State Bank, Courtenay, North Dakota. C. H. Reimers, receiver, Carrington. Prosper State Bank, Prosper. North Dakota. O. L. Engen. receiver, Fargo. Timmer State Bank, Timmer, North Dakota. C. F. Kellogg, receiver, Bismarck. Williston State Bank, Williston, North Dakota. G. R. Van Sickle, receiver, Minot. Citizens' State Bank, Pingree, North Dakota. C. H. Reimers, receiver, Carrington. Citizens' State Bank, Hazen, North Dakota. C. F. Kellogg, receiver, Bismarck. Security State Bank, Brantford, North Dakota. C. H. Reimers, receiver, Carrington. Bank of Leal, Leal, North Dakota. C. I. Buslee, special deputy examiner, Leal. Peoples' State Bank, Hatton. North Dakota. O. L. Engen, receiver, Fargo. Citizens' State Bank, Bathgate, North Dakota. John Vallely, receiver, Grand Forks. Sawyer State Bank, Sawyer, North Dakota. G. R. Van Sickle, receiver, Minot. Itemized lists of the assets are on file in the office of the state examiner at Bismarck, and with the receivers of the above banks. Bids should contain terms of payment and may include time certificates of deposit in going banks in the same community, all bids to be accompanied by certified check of one per cent of the amount of the bid. All bide should be addressed to Gilbert Semingson, state examiner, Bismarck, North Dakota, and the State Banking Board reserves the right to reject any and all bids. (Herald Oct. 26-27; Nov. 2-3.)
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LEGAL NOTICE BANK ASSETS FOR SALE Sealed bids for the purchase of all the assets of the closed banks listed below will be received up to November 15, 1922: Farmers State Bank, Greene, North Dakota. W. E. Burgett, receiver, Flaxton. Citizens' State Bank, Edgeley. North Dakota. O. L. Engen, receiver, Fargo. State Bank of Milton. Milton, North Dakota. John Vallely, receiver, Grand Forks. First State Bank, Crystal Springs, North Dakota. H. B. Hanson, receiver, Crystal Springs. Bank of New Rockford. New Rockford, North Dakota. C. H. Reimers, receiver, Carrington. Peoples' State Bank, Leith. North Dakota. C. F. Kellogg. receiver. Bismarck. Peoples State Bank, Grand Forks, North Dakota. John Vallely, receiver, Grand Forks. Crocus State Bank, Crocus, North Dakota. Fred F. Walz, receiver. Egeland. Security State Bank, Courtenay, North Dakota. C. H. Reimers, receiver, Carrington. Prosper State Bank, Prosper. North Dakota. O. L. Engen. receiver, Fargo. Timmer State Bank, Timmer. North Dakota. C. F. Kellogg. receiver, Bismarck. Williston State Bank, Williston. North Dakota. G. R. Van Sickle, receiver, Minot. Citizens' State Bank, Pingree, North Dakota. C. H. Reimers, receiver, Carrington. Citizens' State Bank, Hazen. North Dakota. C. F. Kellogg, receiver, Bismarck. Security State Bank, Brantford, North Dakota. C. H. Reimers, receiver, Carrington. Bank of Leal. Leal, North Dakota. C. I. Buslee, special deputy examiner, Leal. Peoples' State Bank, Hatton, North Dakota. O. L. Engen, receiver, Fargo. Citizens' State Bank, Bathgate, North Dakota. John Vallely, receiver, Grand Forks. Sawyer State Bank, Sawyer, North Dakota. G. R. Van Sickle, receiver, Minot. Itemized lists of the assets are on file in the office of the state examiner at Bismarck, and with the receivers of the above banks. Bids should contain terms of payment and may include time certificates of deposit in going banks in the same community, all bids to be accompanied by certified check of one per cent of the amount of the bid. All bids should be addressed to Gilbert Semingson, state examiner, Bismarck, North Dakota, and the State Banking Board reserves the right to reject any and all bids. (Herald Oct. 26-27; Nov. 2-3.)
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Echo of Scandinavian Bank Deal Heard Today in District Court
Suit for $22,250 against O. L. Engen, as receiver for the Prosper State bank of Prosper, N. D., was started today in Cass county district court by the State of North Dakota, doing business through the Bank of North Dakota. Alleged transactions between the Scandinavian American bank and the Bank of North Dakota under the former state administration, were brought into the case by the defense.
The Bank of North Dakota alleges that $22,250 was redeposited with the Prosper State bank. The defense denies that the bank ever actually deposited this sum with the Prosper State bank.
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Suit for $22,250 against O. L. Engen, as receiver for the Prosper State bank of Prosper, N. D., was started today in Cass county district court by the State of North Dakota, doing business through the Bank of North Dakota. Alleged transactions between the Scandinavian American bank and the Bank of North Dakota under the former state administration, were brought into the case by the defense.
The Bank of North Dakota alleges that $22,250 was redeposited with the Prosper State bank. The defense denies that the bank ever actually deposited this sum with the Prosper State bank.
It is claimed by the defense that when the attempt was made to save the Scandinavian American bank, deals were made with a number of league banks to take up farmers notes, given to the Scandinavian bank. The Bank of North Dakota, it was said, was supposed to have deposited cash with these local banks to protect them, making them merely clearing houses for the notes.
It is held by the defense that a draft for $22,250 given to the Scandinavian American bank by the cashier of the Prosper State bank, without authority of the board of directors, was forwarded to the Bank of North Dakota.
Mr. Engen maintains that the Prosper State bank never received the cash from the Bank of North Dakota to reimburse the bank for this draft, and that the bank never received notes or any other compensation for this draft.
Kolden, War Veteran, Alleged Check Forger
Sever Kolden, U. S. Veterans bureau trainee at the North Dakota Agricultural college until he left Fargo about 10 days ago after, it is claimed, he wrote some $300 worth of bad checks and who was brought back to Fargo from Durant, Wis., by the Cass county sheriff's office, was arraigned before Justice of the Peace H. F. Miller today on a charge of issuing a worthless check of $145. A preliminary hearing was set for 10 a.m. tomorrow. In default of $100 bail he was committed to the county jail to await the hearing.
The check on which Kolden is being held is alleged to have been issued to Mrs. Clara Erdal, 1012 Fourteenth st N, in partial payment of house rent.
Other checks are claimed to have been issued by Kolden for the purchase of merchandise of many varieties and for cash.
It is claimed that Kolden issued a check for $15 to cover a bad check of $5 given previously at a local restaurant taking $10 in cash for the balance, the $15 check later being found
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ECHO OF SCANDINAVIAN BANK DEAL HEARD TODAY IN DISTRICT COURT
Fargo, N. D., Jan. 18—Suit for $22,250 against O. L. Engen, as receiver for the Prosper State bank of Prosper, N. D., was started today in Cass county district court by the State of North Dakota, doing business through the Bank of North Dakota. Alleged transactions between the Scandinavian-American bank and the Bank of North Dakota under the former state administration, were brought into the case by the defense.
The Bank of North Dakota alleges that $22,250 was redeposited with the Prosper State bank. The defense denies that the bank ever actually deposited this sum with the Prosper State bank.
It is claimed by the defense that when the attempt was made to save the Scandinavian-American bank, deals were made with a number of league banks to take up farmers' notes given to the Scandinavian bank. The Bank of North Dakota, it was said, was supposed to have deposited cash with these local banks to protect them, making them merely clearing houses for the notes.
It is held by the defense that a draft for $22,250 given to the Scandinavian-American bank by the cashier of the Prosper State bank, without authority of the board of directors, was forwarded to the Bank of North Dakota.
Mr. Engen maintains that the Prosper State bank never received the cash from the Bank of North Dakota to reimburse the bank for this draft and that the bank never received notes or any other compensation for this draft.
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SUIT STARTED Fargo, N. D., Jan. 18.-Suit for $22,250 against O. L. Engen. as receiver for the Prosper State bank of Prosper, N. D., was started today , in Cass county district Court by the State of North Dakota, doing business through the Bank of North Dakota. Alleged transactions between the Scandinavian American bank and the Bank of North Dakota under the former state administration, were brought into the case by the defense. The Bank of North Dakota alleges that $22,250 was redeposited with the Prosper State bank. The defense denies that the bank ever actually deposited this sum with the Prosper State bank.