Loveland National Bank (Loveland, CO)

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LOVELAND BANK CLOSES DOORS

The Loveland National bank, one of the oldest banks of Loveland, Colo., closed its dors Monday morning. Officials of the bank indicated that disagrements among stockholders over a reorganization of the bank, the "freezing" of assets acquired during the past war inflation period, and a run on the bank following publication of its Oct. 8 report were the causes of the bank's closing down. J. M. Riley of Cheyenne, federal bank examiner, is in charge of the bank. No official indication was given as to how depositors will share in the liquidation of the bank's assets, or as to the probability of reorganization of the bank and resumption of business.

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Pulliam Tells Commission the Farmer's Status

Farmers of Larimer and Weld counties would benefit if they could put their farm investment out per cent interest, D. T. Pulliam. Loveland farm owner and banker who is well known in Fort Collins, told the examiner of the interstate commerce commission in Denver the hearing on the proposed freight boost. Mr. Pulliam, who owns and superintends 14 farms in the vicinity of Loveland and who is also Interested in several banks, was the first at the opening session yesterday He painted gloomy picture of the farming Industry under exiting and declared that the proposed freight increase would tend only to make things worse. farm owner would benefit by putting his land out at per cent return on his investment,' he said, 'and at this time it is almost impossible to get renter on land and then only after concessions are made. "Boys are leaving the farms and farm labor cannot had. This because they can leave the farm and go work as plasterers, bricklayers, mechanics or almost any line and make more money than they can by working hard on the farm. "The steadily increasing taxes, high cost of labor and high freight rates have burdened the Farming today is question of profit, It is one solely of trying to earn enough pay taxes and provide living for family.' Mr. Pulliam also told of the recent closing the Loveland National bank which he declared was to poor year on the farms and the inability of the farmers to take up notes. In many instances, he said, the farmers did not seek go into bankruptcy, but turned deed for their farms over to the banks individuals holding mortgages on their places.

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CLOSED DOORS

Loveland Bank Fails to Open to the Public.

The Loveland National bank, one of the oldest banks of Loveland, Colo., closed its doors Monday morning. Officials of the bank indicated that disagreements among the stockholders over a reorganization of the bank, the "freezing" of assets acquired during the past war inflation period, and a run on the bank following publication of its October 8 report were the causes of the bank's closing down.

J. M. Riley of Cheyenne, federal bank examiner, is in charge of the bank. No official indication was given as to how depositors will share in the liquidation of the bank's assets, or as to the probability of reorganization of the bank and resumption of business.