f0566510None
Click image to open full size in new tab
BANK CLOSED (United Press) COTTONWOOD. Cal., April 16.The Bank of Cottonwood, capitalized at $50,000, failed to open its doors for business Monday, and Deputy State Superintendent of Banks E. D. Holly assumed charge of the institution. "Frozen credits" were believed responsible for the bank's suspension.
Click image to open full size in new tab
REDDING (Shasta Co.), July 11. Shasta County has $10,000 on deposit in the Bank of Cottonwood, which has been in the hands of the state bank superintendent since late in May. The county treasurer is protected by the deposit of $12.000 in Anderson Cottonwood Irrigation District 6 per cent bonds. The bank receiver has recommended that the county treasurer sell the bonds and turn over what surplus may be left. If there should be shortage, the county would have to share that much with other depositors. As the bonds are quoted at 84, the county will not lose cent.
Click image to open full size in new tab
SHASTA COUNTY $10,000 IN DEFUNCT BANK Treasurer Is Well Protected, However, With $12,000 Bonds of the AndersonCottonwood Irrigation Dis. trict Shasta county has on deposit the Bank of Cottonwood. which has been in the hands of the state superintendent of banks since late The county treasurer is protected in bonds of the AnIrrigation district, which on deposit in the county treasury since the $10.000 was deposited the bank. The the bank has the treasurer sell the bonds and turn over the surplus if there the bank The irrigation bonds bear per and the market price to 84. So the sale of the bonds to repay the county full and leave margin for the bank If there should no margin. or an actual loss, the county would have take its chances with the rest the depositors for any small shortage that might appear The irrigation district flourishing condition. It has always made its interest payments promptly. there small delinquencies year. and the years pass the district coming more more solid financially
Click image to open full size in new tab
STATE BANK SUPERINTENDENT PROPERTY AUTHORIZED AT COTTONWOOD OF THE BANK Will C. Wood, state superintendent of banks, was authorized Thursday by Judge Walter E. Herzinger in the superior court, who granted a petition made in all" of the personal and due to sell and "any real property belonging to the Bank of Cottonwood in liquidation at public or private sale, as the bank superintendent may deem expedient and necessary. The bank superintendent thorized to employ brokers to negoand pay them the After made the bank has report all the court for firmation and approval long list parcels of real estate to sold attached. including the bank building in Cottonwood. fifteen lots Lassen View park Redding and 25 in section 10. township north. Notes. Savings Department Walter and Eva Balance of $2000 secured by deed of George M. due secured by chattel John due of 3000 secured by deed of trust. John note of $2000. secured by deed of trust Harry $135: cured by deed of trust. for secured by deed of trust Pledged San Francisco to receive loan to commercial department. Roy Duggins- Balance due deed trust Roy deed trust. E. San Francisco bank. William R. of deed of trust. James due deed of trust. Jamerson, due deed of Thomas R. due deed of trust. due $4200; deed of McCarley Smith ance $2000 deed of trust. W. H. of $250; deed of trust John W. due of $1000 deed of trust. William deed Loretta of trust Harry deed Ira Del deed trust Franz deed of trust.
Click image to open full size in new tab
LOCALS Charles A. Winegar, trucking contractor of Palo Cedro, was in this city on business Friday. Clarence Van Matre, the Lewiston merchant. was in this city Friday on business nt the bank. Enjoy our 650 Merchants' Lunch tf Lester Butzbach, the Anderson wood dealer. was in this city Friday to purchase some automobile fixtures. J. W. Strode, entropractor. Craddock building. Redding. Phone 717. tf Mr. and Mrs. Clarence E. Carr and John E. Stoddard, all from Carrville, were in Redding Friday. Jack Means, a miner of Coffee creek, will return to Carrville Saturday, after spending two days in Redding. William Trowbridge returned Thursday from Oakland, where he had spent six days with Mr. and Mrs. Weaver Tracy. He is Tracy's uncle. Moon Lee came in from Weaverville before Friday morning, bringing the Wilson sisters in time to catch the 3 o'clock train for the south. Mr. and Mrs. Joseph Lourdeaux and daughter. Miss Olive Lourdeaux, came in from Centerville Thursday to attend the funeral of Charles B. John E. Wing. the Cottonwood bee man, was in this city Thursday afternoon. Wing was one of the heaviest depositors in the Bank of Cottonwood when it closed its doors. Frank Clayton: day chef at Jaegel's. and Mrs. Clayton returned Thursday from a vacation trip of ten days that took them thru Yellowstone park and back home By way of Oakland and San Francisco. J. C. Moon returned from Coffee creek Thursday, having aided in bringing an invalid miner to the county hospital. While he is in this city this time he will settle up with the insurance company on account of the fire that destroyed his Callfornia street home week before last.