First National Bank (Salmon, ID)

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FIRST NATIONAL BANK SALMON CITY CLOSED Action Ordered by Special Bank Examiner-Large Loans the Cause of Failure The First National Bank of Salmon City, in Lemhi county, closed its doors today. A message was received in the city late this afternoon from Salmon bearing the above announcement. The bank was closed up by special nation al bank examiner from Washington D. C. Other than this information the telegram gave no details. The First National bank of Salmon was organized about five years ago and was regarded as one of the principal financial institutions of the Salmon City country. It was capitalized at $50,000 with a surpus of $7500. H. G. King, who is well known in Boise, was the president of the defunct institution and John Lottridge was cashier. Both of these men, as well as all others connected with the bank, have always been held in high regard by the patrons and friends of the institution, and have occupied enviable positions among the banking fraternity of the state. The only reason assigned by local parties for the failure of the bank at this time is the practice of mak ing heavy loans so great in volume that the institution's available funds were not sufficient to meet up with the demand. While the true state of affairs which brought about the closing are not known here, the belief prevails among men well informed upon the subject that this practice of overloaing is doubtless the direct cause of the failure. Charles S. Loveland, who is known to Boise citizens, is the regularly employed examiner for national banks but in this instance the bank was closed by a special federal agent. There are two other banks located at Salmon City, both of which are in excellent shape.

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TOO MANY SUCH When the First National Bank of Salmon City closed its doors a few weeks ago it was announced that it was in a perfectly safe condition, and nobody would lose anything. That the officers had merely concluded that there were too many banks in Salmon and that it would be wise for somebody to quit. That statement created a little surprise and as the facts became known, some little amusement coupled with grave concern. It was so obliging of them to do the quitting and let the other fellows have the field! Now it appears that they simply got to the end of "their rope and th .t there was nothing left. At a sale of the business last week by Deputy United States Marshal E. W. Beemer they were not offered a cent for the bank stock. The home and the ran h of the bank president were sold to apply on the claims of the creditors and depositors. Naturally these people whose money was diverted into other hands and lost, are asking what is the use in having bank inspectors to watch over the affairs of banks with a view of protecting the people, and still let things go from bad to worse until the business is wrecked and then allow the statement to go out that everything is *all right and that if they will just go about their business and wait awhile that somebody will come and hand them their money. In the meantime the depositor is getting into embarrassment by being deceived and by waiting for money that is never coming. Of course, human institutions are subject to human frailities and errors, but after all, there is something in the contention that the 1 people, through the government, ought to be their own bankers. and that the money of the United States when deposited would be good and returnable to the owner at any time. If a postoffice in one town runs out of money it does not impair the value of a postal money order, because the whole system is behind it, and the banking business ought to be made e just as safe.

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MERIDIAN IDAHO IDAHO STATE NEWS Idaho Falls has received an offer for her municipal power plant from the Byllsby people of Chicago, Governor Hawley is exerting every effort to secure the 1913 session of the International Dry Farming congress for Bolse. That a motor car service will soon be in active operation between Idaho Falls and the several towns adjacent in the very near future is a foregone conclusion. North Idaho is second in the United States in the production of lead, this year, according to the annual advance statement of the United States geological survey. Indicative of interest in the movement for better educational facilities, figures show that $250,000 is to be expended in northern Idaho this year for school buildings. Work on the Burley sugar factory Is progressing very rapidly. Over 100 men are now employed on the building. and twenty-five carloads of machinery have been received. "Hamp" (J. H.) Peacock, a printer, aged 49, died at McCammon from heart failure last week. Peacock had worked in a number of printing effices throughout the state. Several of the negroes who have been giving the police department of Boise all kinds of trouble lately have been escorted to the city limits and shown the way out of town. More than 21,040 acres of land in the dry farming belt of Ada, Boise and Canyon counties have been added to the enlarged homestead classifications of the interior department. The comptroller of the currency has authorized the payment of a second dividend of 10 per cent to the creditors of the First National bank of Salmon, which was closed last June. That Bonneville county will soon have a home for her officials is evi. denced by the act that the county commissioners are already figuring on such a building, says an Idaho Falls dispatch. The Soda Springs Commercial club is urging the county commissioners of Bannock county to appropriate $1,500 for the construction of a road from Soda Springs through the Tin Cup country. The last of the work of grading the Salt Lake & Idaho railroad has been completed. The roadbed is now ready for the steel for the entire sixty-five miles from Burley to Kelton Summit, near the Utah line. Mike Davis, who held up Mike Ryan at Mountain Home and robbed him of $2.50, must serve a term in the penitentiary. The sheriff heard of the robbery and ran out in his night clothes and arrested Davis. William Martinsen of Idaho Falls, who owns extensive ranch interests near Grant, has been shipping baled alfalfa to the St. Louis markets and has received a price ranging from $24.50 to $26 per ton for it there. The village board of Burley has had prepared an ordinance calling an election for voting upon the question of bonding for $85,000 to extend the electric lighting and power station, and put in water works and sewers. Legal authorities in Adams county have requested an opinion from the office of Attorney General McDougall as to whether the question of removing the county seat from Council to some other city within the county may be submitted to the people at the general election this fall. Notice of intention to circulate petitions for a vote on the question of moving the county seat of Cassia county from Albion to Burley has been published, and the petitions will be circulated within a few weeks, and the question will be settled at the polls in November. The interior department, notwithstanding the action of the attorney general in dismissing the criminal suits against the Barber Lumber company, says a Washington dispatch, has recommended and urged that an appeal be taken to the supreme court in the civil cases against this company. After waiting nearly ten years for water, the people of Dead Ox Flat last week saw water lifted 110 feet high at the rate of twenty cubie feet a second and running in three of the ditches, one fifty, one eighty, and one 110 feet lift. It is estimated this section will now furnish homes for from 500 to 1,000 families. Mrs. Mary A. Rich, widow of Apostle Charles C. Rich of the Mormon church, a prominent and wealthy woman of that region, died at her home at Paris, April 17, aged seventy-five years. General debility was the cause. M. A. Thometz received a check for $974.80 for a single car of Idaho Rural potatoes, last week, grown on his ranch at Goodwin station, near Hollister. H. Lambing of Kimberly reports gross returns of $300 per acre on his this year's potato erop.

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IDAHO STATE NEWS Idaho Falls has received an offer for her municipal power plant from the Byllsby people of Chicago. Governor Hawley is exerting every effort to secure the 1913 session of the International Dry Farming con. gress for Boise. That a motor car service will soon be in active operation between Idaho Falls and the several towns adjacent in the very near future is a foregone conclusion. North Idaho is second in the United States in the production of lead. this year, according to the annual advance statement of the United States geological survey. Indicative of interest in the movement for better educational facilities, figures show that $250,000 is to be expended in northern Idaho this year for school buildings. Work on the Burley sugar factory is progressing very rapidly. Over 100 men are now employed on the building, and twenty-five carloads of machinery have been received. "Hamp" (J. H.) Peacock, a printer, aged 49, died at McCammon from heart failure last week. Peacock had worked in a number of printing offices throughout the state. Several of the negroes who have been giving the police department of Boise all kinds of trouble lately have been escorted to the city limits and shown the way out of town. More than 21,040 acres of land in the dry farming belt of Ada. Boise and Canyon counties have been added to the enlarged homestead classifications of the interior department. The comptroller of the currency has authorized the payment of a second dividend of 10 per cent to the creditors of the First National bank of Salmon, which was closed last June. That Bonneville county will soon -140 si officials her JOJ home B base denced by the act that the county commissioners are already figuring on such a building, says an Idaho Falls dispatch. The Soda Springs Commercial club is urging the county commissioners of Bannock county to appropriate $1,500 for the construction of a road from Soda Springs through the Tin Cup country. The last of the work of grading the Salt Lake & Idaho railroad has been completed. The roadbed is now ready for the steel for the entire sixty-five miles from Burley to Kelton Summit, near the Utah line. Mike Davis, who held up Mike Ryan at Mountain Home and robbed him of $2.50, must serve a term in the penitentiary The sheriff heard of the robbery and ran out in his night clothes and arrested Davis. William Martinsen of Idaho Falls, who owns extensive ranch interests near Grant, has been shipping baled alfalfa to the St. Louis markets and has received a price ranging from : $24.50 to $26 per ton for it there. The village board of Burley has had prepared an ordinance calling an election for voting upon the question of bonding for $85,000 to extend the electric lighting and power station, and put in water works and sewers. Legal authorities in Adams county have requested an opinion from the office of Attorney General McDougall as to whether the question of removing the county seat from Council to some other city within the county may be submitted to the people at the general election this fall. Notice of intention to circulate petitions for a vote on the question of moving the county seat of Cassia county from Albion to Burley has been published, and the petitions will be circulated within a few weeks, and the question will be settled at the polls in November. The interior department. notwithstanding the action of the attorney general in dismissing the .criminal suits against the Barber Lumber company, says a Washington dispatch, has recommended and urged that an appeal be taken to the supreme court in the civil cases against this company. After waiting nearly ten years for water, the people of Dead Ox Flat last week saw water lifted 110 feet high at the rate of twenty cubic feet a second and running in three of the ditches, one fifty, one eighty, and one 110 feet lift. It is estimated this section will now furnish homes for from 500 to 1,000 families. Mrs. Mary A. Rich, widow of

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IDAHO STATE NEWS Wabe Falls has received an offer the her municipal power plant from the Byllsby people of Chicago. Governor Hawley is exerting every affort to secure the 1913 session of the International Dry Farming con- for Boise. That a motor car service will soon the in active operation between Idaho *Falls and the several towns adjacent in the very near future is a foregone North Idaho is second in the United States in the production of lead, this year, according to the annual advance statement of the United States geoIndicative of interest in the move ment for better educational facilities, figures show that $250,000 is to be expended in northern Idaho this year for school buildings. Work on the Burley sugar factory is progressing very rapidly. Over 100 -Plinq the uo employer MOU are was -sm JO carlosds the pus "Bup thisery have been received. "Hamp" (J. H.) Peacock, a printer, aged 49, died at McCammon from heart Sailure last week. Peacock had worked in a number of printing offices throughout the state. Several of the negroes who have been giving the police department of Boise all kinds of trouble lately have been escorted to the city limits and shown the way out of town. More than 21,040 acres of land in the dry farming belt of Ada, Boise and Canyon counties have been added to the enlarged homestead classificasions of the interior department. The comptroller of the currency has authorized the payment of a secthe 07 cent Jed OT JO puck creditors of the First National bank of Salmon, which was closed last "MINT That Bonneville county will soon have a home for her officials is evidenoed by the act that the county commissioners are already figuring on such a building, says an Idaho Falls dispatch. The Soda Springs Commercial club its urging the county commissioners of Baunock county to appropriate $1,500 for the construction of a road from Soda Springs through the Tin day The last of the work of grading the Salt Lake & Idaho railroad has been completed. The roadbed is now ready for the steel for the entire sixty-five uniles from Burley to Kelton Summit, In ЧЕТП and JW30 Mike Davis, who held up Mike Ryan at Mountain Home and robbed thing of $2.50, must serve a term in the penitentiary. The sheriff heard of the robbery and ran out in his eight. clothes and arrested Davis. William Martinsen of Idaho Falls, who owns extensive ranch interests near Grant, has been shipping baled alfalfa to the St. Louis markets and has received a price ranging from $24.50 to $26 per ton for it there. (The willage board of Burley has had prepared an ordinance calling an election for voting upon the question of bonding for $85,000 to extend the electric lighting and power station, and put in water works and sewers. Legal authorities in Adams county have requested an opinion from the affice of Attorney General McDougall to whether the question of removEng. the county seat from Council to some other city within the county may be submitted to the people at the general election: this fall. Notice of intention to circulate peJO question the uo 2016 B Jog supper meving the county seat of Cassia county from Albion to Burley has been published, and the petitions will be circulated within a few weeks, and the question will be settled at the Noverber. any sgodi The interior department, notwithstanding the action of the attorney general in dismissing the criminal suits against the Barber Lumber sip Mashington B says match, has recommended and urged that an appeal be taken to the sugreme court in the civil cases against 'Auedwes spen After waiting nearly ten years for Tab x0 Dead jo peeple em Last week saw water lifted 110 feet High at the rate of twenty cubic feet = second and running in three of the litches, one fifty, one eighty, and one T10 feet lift. It is estimated this section will now furnish homes for Trom 580 to 1,000 families. Mrs. Mary A. Rich, widow of Epostle Charles C. Rich of the MorTOTAL church, a prominent and wealthy woman of that region, died at her home at Paris, April 17, aged - years. General debility cansed en M. A. Thometz received a check for $574.80 for a single car of Idaho

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The Harry White family are enjoying a visit this week from Chester Gould, of St Anthony. Mr. Gould is the father of Mrs. Harry White. Frank R. McCormick, accompanied by his wife, son and sister-in-law, Miss Thomas, came in on Monday's train. Mr. McCormick, who was receiver for the First National Bank was transferred to Netraska some months.ago, but having settled up the affair there has been returned to Salmon to close up the affairs of the defunct bank at this place.

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Frank McCormick and wife and son came in Tuesday from their home at Sutton, Nebraska. They came all the way by auto and enjoyed the trip very much. Mr. McCormick is here to attend to matters pertaining to the settling up of the affairs of the First National Bank, of which he was appointed receiver. They will be here several weeks.

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Depositors Meeting

In response to the call which was made for the depositors of the First National Bank last Friday evening a very good representation was present. omething like fortv or fifty thousand dollars of the deposits of that bank was represented. The First National Bank closed Its doors on June 8, 1911, over four years ago. Since that time there have been five dividends of 10 per cent paid to the depositors, the last one being in March 1914. The object in calling the meeting way to consult together as to the best way to proceed toward getting the affairs settled up. They felt that unless some action was taken the matter would drag along until the funds would go to the ones who were employed to settle the business. The general opinion of the leading depositors was that it would be advisable to procure the services of an attorney and commence suit in the Federal court against Frank W. McCormick, receiver of the defunct bank. Steps are being taken to begin the suit and it will be watched with keeen interest. It only a portion of the rumors have any foundation there will be some interesting things develop be. fore it is settled.

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Sheriff's Sale.

NOTICE OF FORECLOSURE SALE BY SHERIFF. The First National Bank of Salmon, a corporation, By C. A. Korbly, General National Bank Receiver, Plaintiff, vs. Winslow T. Smout, Defendant. Under and by virtue of an order of sale and decree of foreclosure and sale, issued out of the district court of the SIXTH JUDICIAL DISTRICT in and for the county of Lemhi, State of Idaho, on the 1st day of July, 1916, in the above entitled action, wherein The First National Bank of Salmon, a corporation, By C. A. Korbly, General National Bank Receiver, the above named plaintiff obtained a judgment and decree of foreclosure and sale against WINSLOW T. SMOUT, defendant, on the 16th day of June, 1916, for the sum of $2455.56, lawful money of the United States, besides interest, coss and counsel fees, etc., which said decree was, on the 29th day of June, 1916, recorded in judgment book "B" at pages 314 and 315, of said court, I am commanded to sell that certain lot, piece or parcel of land situate, lying and being in Lemhi county, State of Idaho, and bounded and descibed as follows, to-wit:

All of the Southeast Quarter of the Northwest Quarter, and the Northeast Quarter of the Southwest Quarter and the lot three of Section 31, in Township 23, North of Range 23 East of Boise Meridian, Containing One Hundred Eighteen and 44-100 acres of land, according to the Government survey thereof

Together with all buildings, fences, ditches, water rights, and other improvements situated or erected thereon, belonging or appertaining thereto or used in connection therewith. Public Notice is hereby given that, on Saturday, the 29th day of July A. D. 1916, at 2 o'clock P. M. of that day, in front of the Court House Door of the County of Lemhi, State of Idaho, I will, in obedience to said order of sale and decree of foreclosure and sale, sell all the right, title, claim and interest of Winslow T. Smout, defendant, in, of and to the above described property, or so much thereof as may be necessary to satisfy said judgment, with interest and costs, etc., to the highest and best bidder, for lawful money of the

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Sheriff's Sale

NOTICE OF FORECLOSURE SALE BY SHERIFF. The First National Bank of Salmon, a corporation By C. A. Korbly, General National Bank Receiver, Plaintiff, VS. Winslow T. Smout, Defendant. Under and by virtue of an order of sale and decree of fore. closure and sale, issued out of the district court of the SIXTH JUDICIAL DISTRICT in and for the county of Lemhi, State of Idaho, on the 1st day of July, 1916, in the above entitled action. wherein The First National Bank of Salmon, a corporation, By C. A. Korbly, General National Bank Receiver, the

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July 7-28

PUBLIC NOTICE is hereby given that the sale, wherein THE FIRST NATIONAL PANK. a corporation, by C. A. KORBLY, general NATIONAL BANK RECEIVER, is Plaintiff and WINSLOW T. SMOUT is Defendant, which was advertised to take place in front of the Court House door in the City of Salmon, County of Lemhi, State of Idaho, on Saturday, the 29th day of July, A. D. 1916, at 2 o'clock P. M. of that day, 10 hereby postponed until Tuesday, 8th day of August, A. D. 1916, at 2 o'clock, at which time the said sale will take place as aforesaid. Dated this 29th day of July, 1916. THOMASJ. STROUD, Sheriff.

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Sheriff's Sale.

NOTICE OF FORECLOSURE SALE BY SHERIFF.

The First National Bank of Salmon, a corporation, By C. A. Korbly, General National Bank Receiver, Plaintiff, vs. Winslow T. Smout, Defendant. Under and by virtue of an order of sale and decree of foreclosure and sale, issued out of the district court of the SIXTH JUDICIAL DISTRICT in and for the county of Lemhi, State of Idaho, on the 1st day of July, 1916, in the above entitled action, wherein The First National Bank of Salmon, a corporation, By C. A. Korbly, General National Bank Receiver, the above named plaintiff obtained a judgment and decree of foreclosure and sale against WINSLOW T. SMOUT, defendant, on the 16th day of June, 1916, for the sum of $2455-56, lawful money of the United States, besides interest, costs and counsel fees, etc., which said decree was, on the 29th day of June, 1916, recorded in judgment book "B" at pages 314 and 315, of said court, I am commanded to sell that certain lot, piece or parcel of land situate, lying and being in Lemhi county, State of Idaho, and bounded and described as follows, to-wit:

All of the Southeast Quarter of the Northwest Quarter, and the Northeast Quarter of the Southwest Quarter and the lot three of Section 31, in Township 23, North of Range 23 East of Boise Meridian, Containing One Hundred Eighteen and 44-100 acres of land, according to the Government survey thereof. Together with all buildings, fences,